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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (7897)	12/12/1997 8:50:00 AM
From: Kerm Yerman	Respond to of 15196

ENERGY TRUSTS/ Enervest Income Trust Course Issuer Bid ENERVEST FTS LIMITED PARTNERSHIP FUND (1997) DECEMBER 10, 1997 EnerVest FTS Limited Announces Closing of Initial Public Offering CALGARY, ALBERTA--EnerVest FTS Limited Partnership Fund (1997)(the "Partnership") announced today the final closing of its initial public offering. The closing was for 260 limited partnership units at $1,000 per unit of gross proceeds from the offering of $260,000. The aggregate gross proceeds raised by the Partnership to date are $22,054,000. The limited partnership units were offered for sale to the public in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba, Ontario and Quebec by a syndicate led by Research Capital Corporation and Midland Walwyn Capital Inc. and included RBC Dominion Securities Inc., CIBC Wood Gundy Securities Inc., Fortune Financial and DPM Securities Inc. The proceeds of the offering will be invested by the Partnership in flow-through shares or flow-through convertible securities of companies involved in oil and gas exploration and development in Canada. The Partnership's investment objective is for its Limited Partners to obtain benefits from certain tax deductions and to achieve capital appreciation through investment in a portfolio of equity or equity-linked securities with companies involved in oil and gas exploration and development in Canada. The Partnership's investment portfolio will be actively managed by Morrison Williams Investment Management Ltd. to obtain this objective. TSE SYMBOL: EIT.UN DECEMBER 11, 1997 EnerVest Diversified Announces Acceptance of Normal Course Issuer Bid CALGARY, ALBERTA--EnerVest Diversified Income Trust (the "Trust" or "EDIT") announced today that The Toronto Stock Exchange has accepted its notice to make a normal course issuer bid (the "Bid") to purchase, from time to time, up to 645,000 of its issued and outstanding units on the open market through the facilities of The Toronto Stock Exchange, representing 10 percent of the public float. The price which EDIT will pay for any units purchased by it will be the prevailing market price of such units on The Toronto Stock Exchange at the time of such purchase, but in any event at a price no greater than the net asset value per unit for the day immediately prior to the day of purchase. Decisions on any purchases of units under the Bid will be made by the Investment Manager of the Trust, Morrison Williams Investment Management Ltd. (the "Investment Manager"). There are currently 6,450,000 units of the Trust outstanding. The Bid will commence on December 15, 1997 and will terminate on December 14, 1998 or such earlier time as the Bid is completed or terminated at the opinion of EDIT. The Investment Manager believes that the current and recent market prices of its units does not reflect their underlying value and that, at such times, the purchase of units will increase the proportionate interest of, and be advantageous to, all remaining unitholders. Any normal course of purchases made by the Trust will also afford an increased degree of liquidity to those unitholders of EDIT who wish to dispose of their units.