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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: bhartley who wrote (613)11/20/2000 6:50:57 PM
From: Braincramp  Read Replies (2) of 11633
 
My interpretation of the latest press release, is that Maximum has a limited partnership with a bank that has assets from a foreclosure, such as what occurred with Merit Energy. Therefore allowing Maximum to operate the property and paying interest payments directly to the bank. The property that Maximum gave to the limited partnership is the difference between the debt and the partnerships assets. This is the only logical scenario that I can figure out at this time as this would make sense for both parties involved. Based on a conservative figure of around $ 35,000 per producing barrel this should give them approx. $ 2,200 barrels of extra production. From what I interpret, the extra production would be gas production which would give the trust a 50/50 mix.
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