www.hesperiancapital.com
e: info@hesperiancapital.com :: tel: 403.531.2650 ::  toll free: 877.531.9355 ::  fax: 403.508.6120
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Unit Value $8.52
3-Sep-10
monthly stats:
norrep performance 2010 FTLP
30-Jun-10
CLOSE
% CHG
$ CHG
$9.11
-8.90%
-$0.89

norrep performance 2010 FTLP:
as at 30-Jun-10
3 month: 0.00%
Year to date: -8.89%
1 year:

norrep performance 2010 FTLP after-tax return since inception: 28.38%*

*annualized
*assumes 45% marginal tax rate.
*assumes full cycle investing with all tax deductions taken, sale of investment, and all capital gains taxes paid.

cash distribution history:
year amount

Investment Objective

The Partnership's investment objective is to achieve capital appreciation and provide tax deductions through investments in flow-through shares of resource companies. The offering is currently available with an expected close at the end of May 2010.

Focus on development flow-through (CDE) – up to 70% in development drilling provides lower deal premiums and focuses on lower risk drilling

Experienced portfolio management team focuses on investment quality first with the added advantage of tax benefits

Right time – the commodity outlook is positive as oversupply will eventually be corrected by production declines and low reinvestment

Right structure – aligns our FTLP with the producers’ capital spending focus on development over exploration drilling as well as the royalty incentive programs in Alberta and British Columbia

2010 Norrep Flow Through Simplified 2010 Norrep Flow Through Simplified (138 KB)

Flow Through Shares Explained Flow Through Shares Explained (96 KB)

2010 Flow Through Preliminary Prospectus 2010 Flow Through Preliminary Prospectus (512 KB)

Norrep 2010 Flow Through Web Cast (5 minutes) Norrep 2010 Flow Through Web Cast (5 minutes) (6477 KB)

Interim MRFP - Norrep 2010 FTLP - June 30, 2010 Interim MRFP - Norrep 2010 FTLP - June 30, 2010 (320 KB)

Interim Financial Statements - Norrep 2010 FTLP - June 30, 2010 Interim Financial Statements - Norrep 2010 FTLP - June 30, 2010 (554 KB)

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