2010-01-12-2009-12-08-2009-12-08

To earn 75% WI in Marcellus shale in Harrison, Marion, Doddridge, Barbour, Upshur & Randolph counties, WV.

Houston-based PetroEdge Energy LLC has entered a farm-out agreement with EV Energy Partners LP, Houston, (Nasdaq: EVEP) and EnerVest Ltd. concerning approximately 9,500 net acres targeting the Marcellus shale formation in Harrison, Marion, Doddridge, Barbour, Upshur and Randolph counties in north-central West Virginia, for approximately $33 million in drill-to-earn costs. EV Energy is contributing approximately 7,760 net acres (81%) with EnerVest contributing the remainder. PetroEdge will earn a 75% working interest in the contributed acreage related to each well it drills and completes, and will earn a 75% working interest in the total contributed acreage if it spends approximately $33 million on drilling and related expenditures within a four-year period. EV Energy and EnerVest will retain their proportionate share of the remaining 25% working interest on the total contributed acreage and will each separately retain all net revenue interest in excess of 82% on their respective contributed acreage. EV Energy will continue to hold approximately 27,000 net acres with Marcellus shale potential, primarily in West Virginia.