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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Hrothgar who wrote (46044)6/8/1999 12:33:00 PM
From: ChanceIs  Read Replies (2) of 95453
 
Hrothgar - HGT looks interesting. I will research further. Have you looked at TRU and WTU. TRU is paying 20%-25% dividend and includes a significant Section 29 tax credit. WTU pays a smaller dividend, but includes a whopping tax credit.

TRU is especially interesting as it is selling for $5.25 and its book value is $6.61. Furthermore it had to include a very large impairment at the year's end (approximately 25%) because gas prices had dropped so much. Because gas prices have now recovered, I estimate their book at roughly $8.00. The impairment cannot be reversed under accounting rules, but its effect has been nullified by the market. I look at it as an almost guaranteed 60% gain, and I have a long position.

Love those high temperatures and rising gas futures.
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