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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (10116)3/15/2004 9:59:31 AM
From: Kerm Yerman  Read Replies (3) of 24927
 
Material Change Report / TIER I Portfolio

I have decided to little more than double my holdings in Penn West Petroleum. I believe the company will take action in one form or another to enhance shareholder value.

If they go the energy trust route - I'm looking at an evaluation of approximately $80.00 per unit in 12 months.

However, there are other alternatives that might occur - but, the bottom line is enhancement of share value of which I feel the company will meet in terms of share price appreciation.

Personally, I'm hoping for the energy trust route with a spin-off of an E&P company to support the operations of the trust. The company has positioned itself to pursue whatever internal restructuring they desire.

3/12 Market Close
Purchased 300 shares @ $58.89 - Total Transaction $17,667.00

Beginning Cash Component $19,851.34
Ending Cash Position $ 2,184.34
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