EnerVest FTS Limited Partnership 2008

EnerVest FTS Limited Partnership 2008

June 06, 2008 11:31 ET

EnerVest FTS Limited Partnership 2008 Announces Flow-Through Offering

CALGARY, ALBERTA--(Marketwire - June 6, 2008) -

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

EnerVest FTS Limited Partnership 2008 (the "Partnership") has filed a preliminary prospectus for the initial public offering of its limited partnership Units at a price of $25 per Unit for a minimum subscription of $5,000 (200 Units). The offering has been set at a maximum of $20,000,000 (800,000 Units) and minimum of $4,000,000 (160,000 Units). The limited partnership Units will be offered for sale to the public in each of the provinces of Canada.

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. Cypress manages in excess of $4.9 billion in assets which include the holdings of EnerVest FTS Limited Partnership 2007 and EnerVest FTS Limited Partnership 2007 II.

The offering is being conducted by a syndicate of Agents that is led by CIBC World Markets Inc. and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., FirstEnergy Capital Corp., Haywood Securities Inc., Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Richardson Partners Financial Limited, Raymond James Ltd., Wellington West Capital Inc., Berkshire Securities Inc. and GMP Securities L.P.

A copy of the Preliminary Prospectus can be found on our website at www.enervest.com or on SEDAR 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 2008 General Partner Corp.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2008 General Partner Corp.
    Sean J. H. Morgan
    Chief Financial Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2008 General Partner Corp.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2008 General Partner Corp.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2008 General Partner Corp.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    (403) 571-5554 (FAX)
    Email: info@enervest.com
    Website: www.enervest.com