Constellation Energy Partners LLC to announce cash distribution

Sep 19, 2008 (M2 EQUITYBITES via COMTEX) -- CEP | Quote | Chart | News | PowerRating -- The board of managers of Constellation Energy Partners LLC (NYSE: CEP), which is focused on the acquisition, development and exploitation of oil and natural gas properties, said on 18 September that the company will declare a cash distribution of USD0.5625 per outstanding common unit and Class A unit for the quarter ended 31 September 2008, which equates to USD2.25 per unit on an annual basis.

The company also reported that its sponsor, Constellation Energy Group, will continue to provide services to the company following the Management Services Agreement.

In addition, MidAmerican Energy Holdings Company has signed a tentative agreement toacquire all of the outstanding shares of Constellation Energy Group.

According to Constellation Energy Partners LLC it has no hedging or other contractual counterparty exposure to Lehman Brothers Holdings Inc, its subsidiaries or its affiliates.

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