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

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To: bhartley who wrote (666)	12/19/2000 8:03:39 PM
From: Lorne Larson	Read Replies (2) of 11633

Talked to Brian Gieni re MXT today. No problem at all in getting him on the phone and he was quite willing to talk. He stated as follows: - getting lots of flak on the .06 distribution. - concern is not on the revenue side because a lot of their production is hedged and so they have a reasonable idea of what their cash-flow will be. Concern is on the expense side; they have a 4 well drilling program in Sask, and expenses related to the Weyburn acquisition. They are doing some "deep budgeting" right now. - board meeting scheduled for Jan 17; they hope to at that point have their number-crunching done so that a announcement can be made regarding the February distribution. - I asked him why anyone would buy MXT right now instead of a oil and gas royalty trust paying a better distribution. Answer was that one could expect capital appreciation from MXT (whereas I assume he is suggesting the other trusts are fully valued). I guess it boils down to whether you want to give it another month to see what develops.

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