Advantage Energy Income Fund (AAV)

Advantage Energy Income Fund operates as an open-ended mutual fund trust company. The company, through its subsidiary, Advantage Oil & Gas, Ltd., engages in the exploration, development, acquisition, and production of oil and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan in Canada. The company holds interests in the Martin Creek property and the North Pine Charlie Lake oil pool in British Columbia. It also holds interests in the Zama Lake, the Rainbow, and the Fontas natural gas properties; the Glacier property that consists of 83 sections; the Sunset/Valleyview property, which consists of Sunset Triassic A Unit, Sunset B, and Valleyview-Stump properties; and 6 gas processing/compression facilities and approximately 200 kilometres of gas gathering pipelines in Alberta. The company also holds interests in the Worsley, Cecil, Clear River, and Boundary Lake properties; the Nevis, the Willesden Green, the Westerose, the Brazeau Riverm, and the Lookout Butte properties; and the shallow gas properties comprising the Medicine Hat, Bantry, and Shouldice properties in Alberta. In addition, it holds interests in the Wapella/Red Jacket property, Saskatchewan; and western Saskatchewan properties, as well as owns interests in oil and gas wells located in Alberta, British Columbia, Saskatchewan, and Manitoba. Advantage Investment Management, Ltd. serves as the manager of the company. Advantage Energy Income Fund was founded in 2001 and is headquartered in Calgary, Canada.

For the nine months ended 30 September 2006, Advantage Energy Income Fund's revenues increased 22% to $253.3M. Net income decreased 17% to $41.1M. Revenues reflect increased Crude Oil & Natural Gas Production due to the acquisition of Ketch Resources and higher commodity prices. Net income was offset by increased operating expenses, higher depletion & depreciation expenses and the presence of management internalization expenses.