EnerVest FTS Limited Partnership 2008

EnerVest FTS Limited Partnership 2008

July 15, 2008 16:40 ET

EnerVest FTS Limited Partnership 2008 Announces Initial Closing of Flow-Through Offering

CALGARY, ALBERTA --(Marketwire - July 15, 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") is pleased to announce the first closing of its initial public offering on July 15, 2008. The Partnership has issued 629,237 limited partnership units at $25.00 per unit under this closing, for gross proceeds of $15,730,925. The Partnership units were offered for sale to the public in all 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.

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 final prospectus can be found at www.sedar.com or on our website at www.enervest.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.
    Gary Sharpe
    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