Kerms Korner / Tier's II & III Portfolio Material Changes
Beginning Cash Component = $39,047.34
Bonavista Petroleum
As a result of the reorganization of Bonavista Petroleum, the portfolio inherited 800 Bonaviasta Energy Trust Units.
Effective at the market closing yesterday, the 800 Trust Units were sold at $18.00 per unit.
Original Purchase:
400 shares Bonavista Petroleum $5.70/share, $2,280.00
Exchanged into 800 Units Bonavista Energy Trust
Sold:
800 Units Bonavista Petroleum Trust $18.00/unit, $14,400.00
Gain = $12,120.00
This amount will be added to the Cash Component of the Tier II Portfolio.
In addition as a result of the reorgination of Bonavista, the Tier II Portfolio received 400 shares of a new company, NuVista Energy (NVA). This share holding will be transferred into the Tier III Portfolio and carried at no cost. Current shares closed yesterday at $7.10/share.
Upton Resources
Upton is in the process of being bought out by Starpoint Energy (SPN). Shareholders of Upton are to receive 1.1 share for each Upton share with the deal probably closing in January.
I am intending to assume a position in Starpoint as a result which will amount to 1650 shares.
I am in belief that the current market price is a good entry point for investment now. As a result, I have made the following addition to the Tier II Portfolio.
Purchased:
850 Shares Starpoint Energy $3.38/Share
Total Amount $2,780.00
Ending Tier II Cash Component $50,667.34
Special Note: The cash component is approaching the total actual investment into this portfolio which amounts
to $55,491.00. |
