EV Energy Partners Prices Initial Public Offering

EV Energy Partners, L.P. (Nasdaq:EVEP) has priced its initial public offering of 3,900,000 common units representing limited partner interests at a price of $20.00 per common unit. Total proceeds, net of underwriting discounts and a structuring fee, from the sale of the 3,900,000 units are expected to be approximately $72.54 million. The underwriters have been granted a 30-day option to purchase up to an additional 585,000 common units to cover over-allotments, if any. The common units will begin trading tomorrow on The NASDAQ Global Market under the ticker symbol "EVEP." Completion of the offering is expected to occur on September 29, 2006.

The managers of the offering include A.G. Edwards & Sons, Inc., as representative and sole book-running manager, Raymond James & Associates, Inc. as co-lead manager, and Wachovia Capital Markets, LLC and Oppenheimer & Co. as co-managers. A copy of the final prospectus relating to this offering may be obtained when available from A.G. Edwards & Sons, Inc., One North Jefferson Avenue, St. Louis, Missouri 63103, Attn: Proxy Department, Phone: (314) 955-3000, or from any of the other underwriters.

EV Energy Partners, L.P. is a master limited partnership engaged in acquiring, producing and developing oil and gas properties.

This news release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of the prospectus.


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