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Strategic Energy Fund (TSX: SEF.UN) Updates Early Warning Report re: Tiverton Petroleums Ltd. (TSX: TIV)
2005-11-08

Strategic Energy Fund announced the following change in the information included in a report filed by it pursuant to National Instrument 62-103, dated October 25, 2005, concerning its acquisition of common shares of Tiverton Petroleums Ltd. (“Tiverton”).

C.A. Bancorp Inc. (“C.A. Bancorp”) has become a joint actor with Strategic Energy Fund in respect of Tiverton, as a result of C.A. Bancorp and Strategic Energy Fund agreeing to requisition the directors of Tiverton to call a special meeting of its shareholders for the purpose of removing the current board of directors and electing John F. Driscoll, H. (Bert) Alfaro, John Shiry and Mark Gardhouse as directors.

The issuance of this news release is not an admission that Strategic Energy Fund and C.A. Bancorp are joint actors for any purpose other than the requisition of such special meeting and the voting of their respective shareholdings in Tiverton in support of the foregoing matters. John F. Driscoll controls and beneficially owns, together with Driscoll Family Trust (a trust for the benefit of members of Mr. Driscoll’s family), C.A. Bancorp. C.A. Bancorp beneficially owns 919,500 common shares of Tiverton, representing approximately 0.9929% of all issued and outstanding common shares of Tiverton. As a result of the foregoing agreement, Strategic Energy Fund, together with C.A. Bancorp, have ownership and control over 10,919,500 common shares of Tiverton, representing approximately 11.79% of all issued and outstanding common shares of Tiverton.

The manager of Strategic Energy Fund, Strategic Energy Management Corp, exercises the voting rights attached to securities held by Strategic Energy Fund, including the foregoing common shares of Tiverton. The common shares held by Strategic Energy Fund and C.A. Bancorp were acquired for investment purposes. Strategic Energy Fund and/or C.A. Bancorp may increase or decrease their respective ownership positions in Tiverton at any time.

Strategic Energy Fund (TSX: SEF.UN) Updates Early Warning Report re: Tiverton Petroleums Ltd. (TSX: TIV), continued page

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