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

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To: David Culver who wrote (1834)	11/8/2001 7:18:53 PM
From: Lorne Larson	Read Replies (2) of 11633

See that APF has announced a 20 well drilling program. Am I the only one that is bothered by this type of announcement? I've always assumed that the oil and gas trusts existed to buy proven assets from companies that wished to monetize those assets. It seems to me that drilling programs introduce an element of risk which is inconsistent with the fundamental approach of a trust. Presumably APF is spending money on this drilling program which would otherwise be available for distribution to unitholders or for buying proven assets. I use APF as an example only because of their recent press release. AET has recently also recently announced a similar program. I guess what I'm saying is that if I want to buy an E&P, I'll buy an E&P - not a trust.

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