The acquisition is expected to close by July 1, 2009, and is subject to customary closing conditions and purchase price adjustments.

The acquisition is comprised of 276 wells producing primarily from the Austin Chalk formation in six counties in Central Texas. The properties, and EVEP's share of reserves and production, include:

- 185 of the wells are operated by the seller, and 48 are operated by EnerVest; EVEP already owns an interest in 84 percent of the wells to be acquired;

- Estimated proved reserves as of April 1, 2009, net to EVEP, (based on current strip prices) of approximately 9 BCFE

- 60 percent proved developed producing

- 92 percent natural gas

- 2009 Reserves-to-production ratio of 13.9 years

- Current net daily production to EVEP's interest of approximately 1.8 MMCFE

- 30 currently identified proved undeveloped locations, most of which will be drilled at lower cost through reentering existing well bores

For the second half of 2009, EVEP expects the following for the properties to be acquired:

 Net Daily Production:     Natural gas (Mcf)                                 1,550  -  1,750     Crude oil (Bbls)                                     15  -     18     Natural gas liquids (Bbls)                           16  -     20     Total (Mcfe)                                      1,736  -  1,978 Price Differentials vs. NYMEX:     Natural gas (% of NYMEX Natural Gas)                75%  -   80%     Crude oil (% of NYMEX Crude Oil)                    96%  -  100%     Natural gas liquids (% of NYMEX Crude Oil)          45%  -   55% Lease operating expenses ($/Mcfe)                     $1.25  -  $1.65 Production and other taxes (% of revenues)            4.75%  -   5.25% 

John B. Walker, Chairman and CEO, said, "The Austin Chalk is EnerVest's largest and most successful area of operations. This new acquisition offers many new locations and re-entry possibilities into the 276 well bores that have unexploited Chalk potential."

In conjunction with the acquisition, and consistent with its strategy of hedging a significant percentage of its production, EVEP intends to enter into arrangements to hedge a substantial portion of the acquired production volumes at or prior to closing.