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Strategies & Market Trends : Value Investing
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To: Wallace Rivers who wrote (24931)10/4/2006 7:14:48 PM
From: Madharry   of 78717
 
i would say that just about everything i own now is underwater. pwe is not an oil service stock but a producer. In addition it owns rights to some 4 million acres which it plans to farm out for a portion of the revenues. The way its been beaten down is a little suspicious to me. I know that there is talk of amending the way cash flow of the trusts are being reported and there is conjecture that this will affect the distributions in some negative way. I have not seen any comments by management in regard to this issue. I suppose there is always the possibility that the canadian government will rethink the trust structure as well. But perhaps its all due to leveraged entities coming under the pressure of stock declines and withdrawals. My latest purchase of pwe today resulted in a net yield after withdrawal of taxes of 9.5% paid out on a monthly basis. assuming an exchange rate of .90 and no change in the distribution. According to the ceo their current reserves are approximately 20 years and they distribute 50% of cash flow. OF course they are replacing reserves on an annual basis.
Do your own dilligence but unless something crawls out from under a rock I think it should be in good shape. I also own pds in a retirement account. dont see anything wrong with that one either. But who knows. The metal stocks are faring worse if anything than the oil stocks. I guess I should start rooting for cold weather and hurricanes.
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