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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: David Culver who wrote (511)	9/9/2000 6:37:50 PM
From: Scott Mc	Read Replies (2) of 11633

Yes, due to the nature of their activities, from their Q2 report on their web site it looks like there total costs are approx $18Cdn per barrel(Incl royalties etc) Also from their Q2 report Operationally, Maximum’s second quarter sales volumes are down by 161 BOEs relative to our first quarter. Aside from normal production declines that occur in the absence of new capital expenditures, the reduced production is attributable to usual restricted road access that impairs our ability to access some of Maximum’s wells every year during spring breakup. Although we incurred a reduction in cash flow from operations during the second quarter, we anticipate that cash flow and sales volumes should be restored in the third quarter.

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