Encore Energy Partners LP

8 Feb 2008capital raising announcement▲ GoodMajor

The Permian and Williston Basin acquisition from Encore Operating closed on February 7, 2008, completing the deal announced in the prior filing, for about $250.4 million ($125.4 million cash plus 6,884,776 units). The properties have about 10.8 million BOE of proven reserves and roughly 1,800 BOE per day of production. The credit facility's borrowing base was raised to $240 million and the cash was borrowed under it; EAC and affiliates keep about 67% of units.

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3 Jan 2008capital raising announcement● NeutralMajor

The partnership's operating subsidiary agreed to buy producing oil and gas properties in the Permian and Williston Basins from EAC's subsidiary Encore Operating for $125 million in cash plus 6,884,776 new common units, with the cash to be borrowed under its existing credit facility. The deal was approved on the recommendation of the independent Conflicts Committee, and EAC and affiliates would hold about 67% of the units afterward. Closing was expected in January 2008.

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