Catapult Energy Small Cap 2007 FTS Limited Partnership Completes Rollover And Dissolution

Calgary, Alberta January 6, 2009 – Catapult Energy Management 2007 Inc., the general partner (the "General Partner") of Catapult Energy Small Cap 2007 FTS Limited Partnership (the "Partnership") is pleased to announce that the Partnership has completed the transfer and sale (the "Rollover Transaction") of all its eligible assets on a tax-deferred basis to Ark Resource Corp. (the "Mutual Fund Corporation") in exchange for Series A shares in the Ark Catapult Energy Class Fund (the "Energy Class Fund"), a class of shares in the capital of the Mutual Fund Corporation, effective December 31, 2008.

The Rollover Transaction was approved by the required majority of the votes cast by limited partners of the Partnership (the "Limited Partners") at a special meeting of the Partnership held on October 31, 2008.  The Rollover Transaction was also approved by the independent review committee of the Partnership on September 30, 2008.

As at December 31, 2008 the final net asset value per Partnership unit was $5.89 and the net asset value per Energy Class Fund share was $10.00.  Each Limited Partner received 0.5895 Series A Energy Class Fund shares for each Partnership unit held. The Partnership was dissolved on December 31, 2008 and its assets, including Series A shares of the Energy Class Fund, were distributed among the Limited Partners in accordance with the provisions of the amended and restated partnership agreement dated April 27, 2007 (the "Partnership Agreement").

Investors who want to redeem their Energy Class Fund shares must contact their authorized dealer or provide written notice to the Mutual Fund Corporation, accompanied by the appropriate documentation.  The redemption proceeds (less any applicable fees or other withholdings required under applicable law) will be paid within three business days after the redemption price is determined, provided all necessary documents and/or information has been received.
Ark Fund Management is the manager and Catapult Financial Management Inc. is the portfolio advisor to the Mutual Fund Corporation.  The Energy Class Fund's investment objective is to achieve long-term capital appreciation by investing primarily in the equity securities of Canadian energy and resource issuers.  The portfolio advisor manages the investment portfolio and assists the Energy Class Fund in selecting investments in common shares and other securities of resource issuers, including junior resource issuers, in accordance with investment strategies that may include investments in corporate debt, government bonds or small exposures to small capitalization companies throughout the world, including Canada and the U.S.

The General Partner is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSXV:AHF).  The Partnership was formed under the laws of Alberta and governed by the Partnership Agreement.  The Partnership Agreement was amended by the general partner on December 29, 2008 to incorporate an amendment clarifying the interpretation of time under the Partnership Agreement.
Aston Hill Financial Inc. is a Calgary-based asset management company with expertise in the junior oil and gas sector, energy based trusts, oil and gas property management, private equity and high yield structured products.

For further information concerning this Press Release, please contact:

Catapult Energy 2008 Inc.

Eric Tremblay
Aston Hill Financial Inc.
(403) 770-4817

Joanne A. Hruska
President
(403)770-4814

Larry Titley
Chief Financial Officer
(403)770-4808

 

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