Press Releases

Octavian Comments on Investment in EnerCare


NEW YORK--(BUSINESS WIRE)-- Octavian Advisors, LP, the largest shareholder of EnerCare Inc. (TSX: ECI), which owns approximately 12% of EnerCare’s outstanding common shares and has been a shareholder for more than two years, today issued the following statement:

“As a long-term investor in EnerCare, Octavian remains fully committed to its investment and to getting EnerCare back on the right path and working to position the company for future value creation. Contrary to recent market speculation, Octavian is under no pressure to reduce its stake in EnerCare and will continue to work with its fellow shareholders to take all actions necessary to protect their interests.”

About Octavian Advisors, LP

Octavian Advisors, LP is a global investment firm with offices in New York and London. The firm focuses on special situations and distressed investments in international markets, and has successfully invested in over 40 countries on six continents.

Cautionary Statement Regarding Forward-Looking Information

Certain information in this press release may constitute “forward-looking information”, as such term is defined in applicable Canadian securities legislation, about the objectives and intentions of Octavian as they relate to EnerCare and EnerCare shareholders, and other matters. All statements other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions.

Material factors or assumptions that were applied in providing forward-looking information, include, but are not limited to, EnerCare’s future growth potential, its results of operations, future cash flows, the future performance and business prospects and opportunities of EnerCare, the requirements for Octavian to sell investments held by the funds Octavian manages and the current general regulatory environment and economic conditions remaining unchanged.

Forward-looking information contained in this press release reflect the current expectations of Octavian regarding future events and operating performance of EnerCare, and speak only as of the date of this press release. Such forward-looking information is based on currently available information, competitive, financial and economic data and operating plans and are subject to known and unknown risks, uncertainties and other factors which may, among other things, cause the time period in which Octavian is required to sell investments held by the funds Octavian manages, the actual results, performance or achievements of EnerCare, or general industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Recent events in global financial and credit markets have resulted in abnormally high market volatility and a level of uncertainty not seen in decades. Such uncertainty may continue to impact the global, North American and Canadian economies in unpredictable ways and may impact the results of EnerCare in a manner which is currently impossible to ascertain. Many other factors could also cause Octavian’s objectives and intentions as they relate to EnerCare and EnerCare shareholders and/or EnerCare’s actual results, performance or achievements to vary from those expressed or inferred herein, including without limitation, any requirement on Octavian to sell the investments held by the funds Octavian manages, the impact of legislative, regulatory, competitive and technological changes; the state of the economy; credit and equity markets; availability of credit and other financing; and the financial markets in general. Many of these risks and uncertainties could affect Octavian’s objectives or intentions as they relate to EnerCare and EnerCare shareholders, EnerCare’s actual results and could cause results or the actions taken by Octavian to differ materially from those expressed or implied in any forward-looking information provided by Octavian. The impact of any one factor on a particular piece of forward-looking information is not determinable with certainty as such factors are interdependent upon other factors, and Octavian’s course of action would depend upon its assessment of the future considering all information then available.

Should any factor affect EnerCare, Octavian or the funds managed by Octavian in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking information reflected in this press release is qualified by these cautionary statements. There can be no assurance that the results or developments anticipated by Octavian will be realized or, even if substantially realized, that they will have the expected consequences for EnerCare, Octavian and the funds managed by Octavian. Forward-looking information is provided and forward-looking statements are made as of the date of this press release and except as may be required by applicable law, Octavian disclaims any intention and assumes no obligation to publicly update or revise such forward-looking information or forward-looking statements whether as a result of new information, future events or otherwise.

Sard Verbinnen & Co
Jonathan Doorley / Elizabeth Smith, 212-687-8080

Source: Octavian Advisors, LP