Heating Oil Partners Income Fund

Heating Oil Partners Income Fund

October 04, 2005 16:05 ET

Heating Oil Partners Income Fund Advised of Suspension and Delisting of Units from the TSX

TORONTO, ONTARIO--(CCNMatthews - Oct. 4, 2005) - Heating Oil Partners Income Fund (the "Fund") (TSX:HIF.UN) announced today that it has been advised by the TSX that the Fund's units will be suspended from trading on the TSX effective at the close of business on Thursday, October 6, 2005. Trades executed before that time will settle in the normal course. It is expected that the Fund's units will be formally delisted from the TSX on November 7, 2005. At this time, it is not expected that an alternative listing for the Fund's units will be obtained on another public market.

The Fund indirectly owns approximately 88.1% of HOP, one of the largest residential heating oil distributors in the United States. HOP delivered over 236 million gallons of heating oil and other refined liquid petroleum products for the twelve months ended June 30, 2005 to approximately 137,000 residential, fleet and commercial customers, primarily in Connecticut, Delaware, Maryland, Massachusetts, New Jersey, New Hampshire, New York, Pennsylvania, Rhode Island, Virginia and the District of Columbia. HOP's operations are conducted through 16 regional distribution and service centres. From these centres, HOP provides its customers with a full range of value-added services, including the delivery of heating oil and the installation, maintenance and service of furnaces, boilers, heating equipment and air conditioners on a 24 hours-a-day, 365 days-a-year basis.

This news release contains forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors outside of Management's control that could cause actual results to differ materially from those described in the forward-looking statements. The Fund does not assume responsibility for the accuracy and completeness of these forward-looking statements and does not undertake the obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Additional information, including the Fund's complete financial statements for the fiscal year ended September 30, 2004 and the quarter ended June 30, 2005, can be found at www.sedar.com or on the Fund's website at www.hif-un.com.

Contact Information

  • Heating Oil Partners, L.P.
    Carlos Rojas
    Chief Financial Officer
    (203) 655-8290