OVERLAND PARK, Kan. - Jan. 29, 2008 -- Tortoise North American Energy Corp. (NYSE: TYN), today announced the release of its fiscal 2007 results. The company posted its 2007 annual report at www.tortoiseadvisors.com and commenced mailing of its annual report and proxy materials to stockholders.
For the year ended Nov. 30 2007, Tortoise North American Energy's total assets were $195 million and its net assets were $126 million. The company's aggregate distributable cash flow was $6.9 million for the year. The company distributed $6.7 million to stockholders in the form of dividends.
2008 Annual Stockholders' Meeting
The company will discuss financial results at its annual stockholders' meeting on April 21, 2008 at 9 a.m. CT at the Doubletree Hotel, 10100 College Blvd, Overland Park, Kan.
For those unable to attend the meeting, a listen-only conference call will be provided. Please dial-in approximately five to 10 minutes prior to the scheduled start time:
U.S./Canada: (800) 218-0713
International: (303) 262-2139
The meeting will also be webcast in a listen-only format. The link to the webcast and supplemental information will be accessible at www.tortoiseadvisors.com.
A replay of the meeting will be available beginning at 12 p.m. CT on April 21, 2008 and continuing until 12 p.m. CT May 6, 2008, by dialing (800) 405-2236 (U.S./Canada). The replay access code is 11107206#. A replay of the webcast will also be available on the company's Web site at www.tortoiseadvisors.com through April 21, 2009.
About Tortoise North American Energy Corp.
Tortoise North American Energy Corp. invests in a portfolio consisting primarily of publicly-traded Canadian upstream royalty trusts and income trusts (collectively, RITs) and publicly-traded United States master limited partnerships (MLPs) with diversified exposure to the growing and physically integrated North American energy markets. Tortoise North American Energy Corp.'s goal is to provide its stockholders with a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy sector. As of Dec. 31, 2007, the adviser had approximately $2.9 billion of assets under management. For more information, visit our Web site at www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Investors should consider the investment objective, risks, charges and expenses of the fund carefully before investing. For this and other important information, investors should refer to the closed-end fund prospectus and read it carefully before investing.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, email@example.com