EnerVest Natural Resource Fund Ltd.

EnerVest Natural Resource Fund Ltd.

April 25, 2008 17:28 ET

EnerVest Natural Resource Fund Ltd.: 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.

EnerVest Funds Management Inc. (the "Manager"), the Manager of EnerVest Natural Resource Fund Ltd. ("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 Manager. 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 subject to receipt of regulatory approvals and other customary closing conditions.

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

EnerVest is an open-end mutual fund corporation, specializing in energy investments and is actively managed by Cypress Capital Management Ltd. EnerVest trades under the symbol ENV 040.

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

Contact Information

  • EnerVest Funds Management Inc.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Funds Management Inc.
    Sean J. H. Morgan
    Chief Financial Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Funds Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Funds Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Funds Management Inc.
    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