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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who started this subject9/12/2001 9:13:27 AM
From: Frank Pembleton   of 36161
 
Shiningbank Energy Announces Third Quarter 2001 Distribution

CALGARY, ALBERTA--Shiningbank Energy Management Inc., manager of Shiningbank Energy Income Fund (the ``Fund''), today announced the quarterly distribution to unitholders for the third quarter 2001. The record date for the distribution is September 30, 2001 and the ex-distribution date is September 26, 2001. The distribution will be made on October 15, 2001. THE AMOUNT OF THE DISTRIBUTION WILL BE $0.70 PER UNIT. This distribution represents a 36% decrease from the second quarter 2001 distribution of $1.10 per unit as a result in the erosion of natural gas prices over the course of 2001. Total distributions for the last twelve months amount to $3.90 per unit, resulting in a cash-on-cash yield of over 29% based on recent unit prices.

Shiningbank Energy provides its unitholders with a high-quality asset base, a strong financial position and experienced management. Its production is approximately 75% natural gas weighted and is rich in natural gas liquids providing premium netbacks in spite of lower overall natural gas prices.

Shiningbank Energy Income Fund is a conventional oil and gas royalty trust and its units are listed on The Toronto Stock Exchange under the symbol ``SHN.UN''.

biz.yahoo.com
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