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

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To: David Alon who wrote (3086)	3/31/2002 1:28:36 PM
From: Lorne Larson	Read Replies (2) of 11633

Interesting to compare what PVE paid for their recent acquisition vs what was being paid for acquisitions in mid-2001. Investors Digest indicates that at that time the average cost was $15.79 per proven BOE reserves; PVE paid $6.82. Average price per BOE/day production was $40,221, whereas PVE paid $18,055. I realize it's difficult to compare straight across because of other factors. However the lowest prices paid in mid-2001 (excluding the PVE Maxx acquisition which was heavy oil) were $12.23 and $24,216. Interesting to note that the highest price paid by a trust for an acquisition was PWI for Cypress at $20.09 and $52,529! Some of the trusts went a little crazy in 2001. Wonder what PWI could have got Cypress for if they had waited for 6 months?

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