EnerVest Completes Trust Rights Offering

Calgary-based EnerVest Diversified Income Trust completed a rights offering, on February 19, 2004, under which EnerVest issued approximately 25 million of its trust units. Total proceeds of the offering were approximately $159 million. Holders of approximately 94 per cent of the rights exercised under a basic subscription privilege, with the balance of rights issued being exercised under an additional subscription privilege.

The EnerVest legal team was directed by Ward Mallabone, vice-president, law. EnerVest was also represented by Heenan Blaikie LLP, with a team led by Lloyd Symons and Richard Lewin (tax), and assisted by Bruno Caron (securities). As dealer manager, GMP Securities Ltd. was represented by Macleod Dixon LLP, with a team that included Lianne Tysowski, Harvey Steblyk and Darren Hueppelsheuser (tax).