ENERGY TRUSTS / NCE Energy Trust, (NCA.UN) March Distribution Ten
Cents ($0.10) Per Unit
TSE, ME SYMBOL: NCA.UN
MARCH 12, 1998
TORONTO, ONTARIO--John Driscoll, President of NCE Resources Group,
announced today that NCE Energy Trust has declared a cash
distribution of ten cents ($0.10) per unit for the month of March,
1998.
Date payable
The distribution is payable on March 31, 1998, to holders of
record on March 18, 1998. Distributions are made monthly.
Oil prices
A warm winter in the major oil consuming regions and reduced
consumption in Asia have resulted in high inventories and lower
prices. In addition, OPEC over-production and member nations'
inability to reach consensus on quotas have contributed to the
current excess supply. On February 28, 1997, oil was priced at
$20.30 U.S. West Texas Intermediate (WTI). On February 28, 1998,
it was $15.34 WTI.
Current price
The price for NCE Energy Trust on the Toronto Stock Exchange at
the close of the market, March 11, 1998, was $7.10 per unit.
continued over page
NCE Energy Trust
NCE Energy Trust is an income trust designed to acquire oil and
gas companies. The units trade on the Montreal Exchange and The
Toronto Stock Exchange under the symbol NCA.UN.
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Distributions
Distributions to date are:
Month Distributions per unit
September 1997 $0.05
October 1997 $0.05
November 1997 $0.09
December 1997 $0.13
January 1998 $0.10
February 1998 $0.10
March 1998 $0.10
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Total: $0.62
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NCE Resources Group
NCE Resources Group was formed in 1984 as an oil and gas
investment management organization. NCE investment funds have
interests in over 5,000 wells. NCE employs approximately 130
people in the areas of engineering, land management, marketing,
geology, accounting, finance and investor relations. It provides a
full range of technical, operational, administrative and investor
services. Based on total oil and gas production, NCE ranks among
the top 30 oil and gas companies in Canada.
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More information
Hours of service (x):
Monday -- Thursday 8 a.m. - 8 p.m.
Fridays 8 a.m. - 6 p.m. Eastern Time
(x) except on Canadian statutory holidays.
e-mail: info@nceresources.com
Website: www.nceresources.com
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