EnerVest Natural Resource Fund Ltd.

EnerVest Natural Resource Fund Ltd.

July 07, 2008 16:22 ET

EnerVest Natural Resource Fund Ltd.: News Release

CALGARY, ALBERTA--(Marketwire - July 7, 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 Canoe Financial LP ("Canoe") has completed its previously announced acquisition of EnerVest Limited Partnership.

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. The members of the Independent Review Committee have also been reappointed as per National Instrument 81-107.

Canoe is pleased to announce the appointment of the following individuals to the board of the Manager:

M. Bruce Chernoff, Director

Professional Engineer; Chairman of Harvest Energy Trust; President and Director of Caribou Capital Corp. (a private investment management company) since June 1999.

David J. Rain, Director

Chartered Accountant; Vice President and Director of Caribou Capital Corp. since June 1999; Vice President, Chief Financial Officer of Harvest Energy Trust from July 2004 to February 2006 and Corporate Secretary since July 2002.

Craig Spurn, Director

Barrister and Solicitor; Partner of Blake, Cassels & Graydon LLP, Calgary, Alberta (a law firm).

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
    (403) 571-5554 (FAX)
    or
    EnerVest Funds Management Inc.
    Sean J. H. Morgan
    Chief Financial Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Funds Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Funds Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Funds Management Inc.
    Suite 2800, 700 - 9th Avenue S.W.
    Calgary, Alberta T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com