Mulvihill Premium Oil & Gas

Mulvihill Premium Oil & Gas

March 30, 2005 09:00 ET

Mulvihill Premium Oil & Gas Announces Year End Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM OIL & GAS

TSX SYMBOL: FPG.UN

MARCH 30, 2005 - 09:00 ET

Mulvihill Premium Oil & Gas Announces Year End Results

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Mulvihill Premium Oil
& Gas (the "Fund")(TSX:FPG.UN) announces results for the year ended
December 31, 2004. Total results from financial operations amounted to a
gain of $2.4 million or $1.64 per unit, which included both realized and
unrealized capital gains and losses. Net assets were $11.5 million or
$10.81 per unit, net of distributions to unitholders in the amount of
$1.0 million or $0.75 per unit.

The Fund's investment objectives are to provide unitholders with a
stable stream of quarterly distributions of at least C$0.1875 per unit.
The Fund achieves its investment objectives by investing in a
diversified portfolio consisting primarily of common shares issued by
corporations that are included in the S&P/TSX Energy Index and up to 20%
of the cost amount of its assets in common shares issued by corporations
that are included in the Standard & Poor's 500 Oil & Gas Sub-Index.

In order to generate returns above the dividend income generated by the
portfolio, the Fund may write covered call options in respect of all or
part of the securities in the portfolio. In addition, the Fund may write
cash covered put options in respect of securities in which the Fund is
permitted to invest.

The Fund's investment portfolio is managed by its investment manager,
Mulvihill Capital Management Inc. Fund units are listed on The Toronto
Stock Exchange under the symbol FPG.UN.



------------------------------------------------------
Selected Financial Information : ($ Millions)
------------------------------------------------------

Statement of Net Assets 2004
-------

Assets $ 14.1
Liabilities 2.6
-------

Net Assets (Unitholders Equity) $ 11.5

Statement of Financial Operations

Income $ 0.2
Expenses (0.3)
-------
Net Investment Loss $ (0.1)

Net Gain on Investments 2.5
-------

Total Results from Financial Operations $ 2.4
------------------------------------------------------



-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966
    or
    Mulvihill Structured Products
    Bruce Graham
    Vice President
    (416) 681-3966 or (800) 725-7172
    hybrid@mulvihill.com
    www.mulvihill.com
    A member of the Mulvihill Capital Management Inc. Group of Funds