EnerVest FTS Limited Partnership 2007

EnerVest FTS Limited Partnership 2007

April 02, 2007 16:12 ET

EnerVest FTS Limited Partnership 2007 Announces Second Closing of Flow-Through Offering

CALGARY, ALBERTA--(CCNMatthews - April 2, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

EnerVest FTS Limited Partnership 2007 (the "Partnership") is pleased to announce the second closing of its initial public offering on April 2, 2007. The total number of limited partnership units issued under the closing was 31,240 at $25.00 per unit, resulting in total proceeds raised for the Partnership of $781,000. The Partnership units were offered for sale to the public in all of the provinces of Canada. The 2007 Offering is the thirteenth consecutive year in which EnerVest has closed a flow-through limited partnership.

The proceeds of the offering will be invested in flow-through shares of resource companies involved in oil and gas and mineral exploration, development and/or production in Canada or certain energy production that may incur Canadian renewable and conservation expense. The Partnership's investment objective is to provide limited partners with a tax-assisted investment in a diversified portfolio of equity securities of resource companies with a view to achieving capital appreciation. The Partnership's investment portfolio will be actively managed by Cypress Capital Management Ltd., an experienced investment manager.

The offering was conducted by a syndicate of agents led by CIBC World Markets Inc. and BMO Capital Markets Inc., and included GMP Securities L.P., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Acumen Capital Finance Partners Limited, Blackmont Capital Inc., Tristone Capital Inc. and Berkshire Securities Inc.

A copy of the Final Prospectus can be found at www.sedar.com.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EnerVest 2007 General Partnership Corp.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2007 General Partnership Corp.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2007 General Partnership Corp.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2007 General Partnership Corp.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2007 General Partnership Corp.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    Email: info@enervest.com
    Website: www.enervest.com