AGS Energy 2005-1 Limited Partnership Rollover and Dissolution

AGS Energy 2005-1 Limited Partnership Rollover and Dissolution

AGS Energy 2005-1 Limited Partnership (the “Partnership”) is pleased to announce that limited partners approved the transfer of the assets of the Partnership to AGS Lawrence Resource Fund Ltd., an open-end mutual fund corporation (the “Mutual Fund”) on April 30, 2007.

The assets of the Partnership were transferred to the Mutual Fund in exchange for shares of the Mutual Fund having an aggregate net asset value equal to the value of the transferred assets. These transfers occurred on a tax-deferred basis. As of April 30, 2007, the final net asset value per Partnership unit was $13.9348 and the net asset value per Mutual Fund share was $18.493. Each Limited Partner will receive 0.7535 Mutual Fund shares for each Partnership unit held. The Partnership will be dissolved on May 14, 2007 and Limited Partners will automatically become shareholders of the Mutual Fund.

Shares of the Mutual Fund are redeemable by shareholders at their net asset value on the last business day of each week commencing on May 18, 2007 under the fund code LAW301. Investors who want to redeem their Mutual Fund shares must contact their brokers or dealers to exercise the redemption option. The redemption price for Mutual Fund shares will be paid within three business days. There is no redemption fee.

Lawrence Asset Management Inc. is manager and AGS Resource Management Inc. is consultant to the Mutual Fund. The Mutual Fund’s investment objective is to achieve long-term capital growth by investing primarily in equity securities of Canadian resource issuers engaged in oil and gas exploration and to a lesser extent, mining exploration. The manager and the consultant will assist the Mutual Fund in selecting investments in common shares and other securities of resource issuers, including junior resource issuers, in accordance with the investment strategies that may include short selling of securities. The Mutual Fund is not a reporting issuer.

An offering memorandum was previously mailed to limited partners of the Partnership and is available by calling Lawrence Asset Management Inc. at (416) 362-6283.