EnerVest FTS Limited Partnership 2007

EnerVest FTS Limited Partnership 2007

April 25, 2008 17:26 ET

EnerVest FTS Limited Partnership 2007: News Release

CALGARY, ALBERTA--(Marketwire - April 25, 2008) -

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

(Privately Held) EnerVest 2007 General Partnership Corp. (the "General Partner"), the General Partner of EnerVest FTS Limited Partnership 2007 ("EnerVest"), announces that EnerVest Limited Partnership, a limited partnership interest controlled by Avenir Diversified Income Trust, has entered into an agreement with Canoe Financial LP ("Canoe") to sell, indirectly, its interests in the General Partner. Canoe is a private entity owned by Mr. M. Bruce Chernoff. Mr. Chernoff is a businessman resident in Calgary, Alberta.

The transaction is expected to close on or about June 30, 2008.

Cypress Capital Management Ltd. ("Cypress"), the Investment Manager of EnerVest, and management and staff of the General Partner will remain in their current roles. This transaction will have no impact on the investment management agreement between the General Partner and Cypress.

EnerVest's investment objective is to provide the limited partners with a tax-assisted investment in a diversified portfolio of common shares and special warrants convertible into certain common shares of resource companies involved in oil and gas or mineral exploration, development and/or production in Canada or certain energy production that may incur Canadian renewable and conservation expense with a view to earning income and achieving capital appreciation.

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.
    Sean J. H. Morgan
    Chief Financial 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: www.enervest.com
    Website: info@enervest.com