Portfolio Holdings

As of May 31, 2009 (Unaudited & Unreconciled)

EnerVest FTS 2007

Security Number of Shares
Action Energy Inc. 82,093
Athabasca Oil Sands - Private 69,350
Baytex Energy Ltd. 4,575
Churchill Energy Inc. 5,798
Cobalt Energy Ltd. Cl A 120,000
Cobalt Energy Ltd. Cl B 22,000
Exshaw Oil Corp. - Private 20,000
Fronteer Development Group Inc. 6,187
Galleon Energy Inc. 15,000
Glamis Resources Ltd. 111,200
Laricina Energy Ltd.- Private 8,000
Liberty Mines Inc. 48,000
Livingstone Energy Ltd. - Private 145,000
Nuloch Resources Inc. 312,500
One Exploration Inc. 182,000
OPTI Canada Inc. 12,000
Painted Pony Petroleum Cl A 110,000
Painted Pony Petroleum Cl B 24,750
Pegasus Oil & Gas Inc. 50,000
Redcliffe Exploration Inc. Cl A 388,888
Rising Sky - Private 50,000
Rubicon Minerals Corp 110,000
Salvo Energy Corporation-Private 96,774
Solara Exploration Ltd. 200,000
Southern Pacific Resources Corp 137,000
Spitfire Energy Ltd. 334,000
Stonefire Energy Corp. 75,000
Storm Exploration 7,000
Tango Energy 460,000
Triton Energy Corp 230,000
UTS Energy Corporation 20,000
Vero Energy Inc. 28,000
Welton Energy Corporation 291,000
  Net Asset Value Per Unit: $8.37