Octavian Submits Second Requisition for a Special Meeting of EnerCare Shareholders

Criticizes EnerCare's Board's Attempt to Disenfranchise Shareholders Calls on Board to Establish a Timely, Transparent and Fair Process and Appoint an Independent Chairman for the Special Meeting

Octavian Advisors, LP, the largest shareholder of EnerCare Inc. (TSX: ECI), which exercises control or direction over securities representing approximately 13% of EnerCare's outstanding common shares, delivered a second requisition to EnerCare on December 30, 2011 for a Special Meeting of Shareholders. The meeting has been re-requisitioned after EnerCare disingenuously rejected Octavian's first requisition for the purpose of expanding EnerCare's Board to ten and adding four highly qualified and independent nominees nominated by Octavian. To prevent the Board's obvious attempt to disenfranchise shareholders - the only possible explanation for EnerCare's frivolous position regarding the meeting - Octavian has registered its shares and re-requisitioned the meeting. Octavian has also proposed protocols to ensure that the meeting takes place with integrity, including the appointment of a mutually agreed upon independent Chairman. In addition, in light of the amount of time EnerCare's Board has had to consider Octavian's requisition, Octavian has requested that the Special Meeting of Shareholders be held on a date no later than February 10, 2012.

"In an attempt to avoid an unnecessary court process that would be costly to both EnerCare and its shareholders, we have submitted a second requisition for a Special Meeting to expand the Board to ten and to add four nominees nominated by Octavian to the Board," said Richard Hurowitz, Chairman and Chief Executive Officer of Octavian. "The Board's rejection of our first requisition was a desperate and self-serving move in an effort to further entrench itself and ignore the wishes of the company's shareholders. We request that the Board establish a timely, fair and transparent process for a Special Meeting so that EnerCare's shareholders are not inconvenienced or disenfranchised either before or at the Special Meeting. We also call upon the Board to exercise good corporate governance and stop seeking spurious obstacles to the simple matter of letting shareholders exercise their rights for proper representation."

About Octavian Advisors, LP

Octavian Advisors, LP is a global investment firm with offices in New York and London. The firm focuses on special situations and distressed investments in international markets, and has successfully invested in over 40 countries on six continents. Octavian currently manages approximately $1 billion for leading endowments, foundations, pension funds, family offices and institutions.

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