Kerm’s Korner / Notes: Tier II Portfolio Report
These notes pertain to TIER II PORTFOLIO, dated April 8, 2002.. The portfolio can be found at:
Message 17309780
Portfolio cash on hand back in 1999 consisted of $2,519.00.
This portfolio last consisted of holdings in 10 companies. Of the 10 companies, 4 were acquired. The remaining six companies consisted of Bonavista Petroleum, NIKO Resources, Thunder Energy, Upton Resources, Vermilion Resources and Westminster Resources.
The events concerning the holdings of the original remaining companies are as follow:
Cypress Energy - Holdings consisted of 1,000 shares which were purchased at an average of $3.75/share for a total investment of $3,750.00. CYZ.A was acquired by Prime West Energy for cash consideration of $14.00/share which amounted to $14,000.00.
Genesis Exploration - Holdings consisted of 1,600 shares which were purchased at an average of $5.19/share for a total investment of $8,304.00. GEX was acquired by (U.S.) Vintage Petroleum for cash consideration of $18.25/share which amounted to $29,200.00.
Post Energy - Holdings consisted of 800 shares which were purchased at an average of $3.60/share for a total investment of $2,880.00. PSN was acquired by Ketch Energy for cash consideration of $5.687139/share which amounted to $4,050.00. In addition, the portfolio received 352 shares of Ketch Energy which amounted to a share exchange of 0.440316 Ketch share for each PSN share held. Further, 80 shares of Kick Energy were received which amounted to a share exchange of 0.10 Kick share for each PSN share. Subsequently, Ketch Energy shares were sold for $5.12/share which amounted to $1,802.24. Kick Energy shares were sold at $1.30/share which amounted to $104.00. In summary, the Post Energy holdings generated cash in the amount of $5,956.24.
Startech Energy - Holdings consisted of 500 shares which were purchased at an average of $3.75/share for a total investment of $1,875.00. SEH was acquired by ARC Energy Trust and shares amounting to 0.96 of ARC Resources “Exchangeable Shares” were received for each Startech share which amounted to a total of 480 shares. Effective April 15, 2002, these shares will be exchanged into 590 ARC Energy Trust Units which amounts to receiving 1.22888 Trust Unit for each ARC Resources Exchangeable Share. Also as a result of the ARC acquisition of SEH, 500 shares of Impact Energy were received which amounted to 1 Impact share for 1 SEH share. Subsequently, the Impact Energy shares were sold at $1.68/share, amounting to a total of $840.00.
In summary, the above acquired companies resulted in $49,996.24 added to the cash position of this portfolio.
Most Current Events:
GRADUATION DAY:
I elevated holdings in two companies from TIER III to TIER II. These companies are Compton Petroleum and Purcell Energy. All investment related data is factored into this portfolio.
SOLD
The holdings of Westminster Resources were sold - 600 shares @ $1.00, amounting to $600.00. Original investment consisted of 600 shares obtained at $6.40/share, a total investment of $3,840.
Holdings of Bonavista Petroleum were reduced by 100 shares, leaving a balance of 400 shares. Shares were sold at $35.60 for a total amount of $3,560.00. Original investment was $570.00.
Holdings of Vermilion Resources were reduced by 600 shares, leaving a balance of 1,200 shares. Shares were sold at $10.50 for a total of $6,300.00. Original investment was $2,000.00.
In summary, the above sold holdings resulted in $10,460.00 added to the cash position of this portfolio.
PURCHASES
Picked up additional shares in Upton Resources amounting to 900 shares at $3.90/share for a total investment of $3,510.00. Total holdings now amount to 1,500 shares.
Established a new position in Meota Resources amounting to 1,000 shares at $5.29/share for a total investment of $5,290.00.
Established a new position in Olympia Resources amounting to 1,000 shares at $4.13/share for a total investment of $4,130.00.
In summary, the above purchases decreased the portfolio’s cash on hand by $12,930.00. |
