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NCE Resources Group announces full investment of NCE Diversified Flow-Through (08) Limited Partnership and capital gains guidance for 2008
2008-12-19

TORONTO: NCE Resources Group (“NCE”) announces that NCE Diversified Flow-Through (08) Limited Partnership (the “Partnership”) has fully invested the assets of the Partnership prior to December 31, 2008. The assets of the Partnership have been invested in flow-through shares of resource issuers engaged in oil and gas exploration, development and/or production, and mineral exploration, development and/or production.

NCE would also like to announce estimated capital gains for the following flow-through limited partnerships (the “Partnerships”):

  • NCE Diversified Flow-Through (07) Limited Partnership: $5.00 per unit*
  • NCE Diversified Flow-Through (07-2) Limited Partnership: $9.50 per unit*
  • NCE Diversified Flow-Through (08) Limited Partnership: $3.20 per unit*

Capital Gains: 

The Partnerships invested in a number of companies that were sold, merged or taken over in 2008. These transactions resulted in capital gains, which the Partnerships are required to report on T5013A tax slips issued to limited partners by March 31, 2009.

The figures above are estimates only and may differ from the final amounts. Furthermore, these estimates are for information purposes only and are not intended as legal or tax advice. Limited partners should consult their tax advisors.

Sentry Select Capital Corp.: Sentry Select Capital Corp. (“Sentry Select”), the investment advisor to the Partnerships, is a Canadian wealth management company that offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

Management: The General Partner is a member of NCE, which was formed in 1984 as an oil and gas investment management organization specializing in energy investments and providing a full range of technical, operational, administrative and investor services. Since 1984, NCE has invested or managed the investment of more than $4.1 billion in the acquisition, development and exploration of resource properties and securities of resource issuers and has entered into drilling, joint venture and other similar arrangements with oil and gas industry participants.

*It should be noted that 50% of the capital gains is taxable.

More information: Investor Services (broker/investor inquiries and media inquiries)Tel: 1-888-730-4623Fax: 416-364-1197Email: info@sentryselect.com

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ‘‘expect’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to NCE. The forward-looking statements are not historical facts but reflect NCE’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the amount of any capital gains for the Partnerships. Although NCE believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. NCE undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.


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