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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: GST who wrote (93006)11/2/2007 1:57:40 PM
From: Tommaso  Read Replies (1) of 206325
 
I have to stick with what I know best, and that is Canadian Oil Sands Trust. COSWF pink sheets, COS.UN Toronto.

Curiously, I just sent a PM to David Culver, who first discussed this trust five or more years ago. I originally bought it for my IRA and paid about $24 (presplit 5-1) a share, giving it an original purchase basis of $4.80. After a while I took it out of my IRA and paid taxes on it. At that point it had a basis 50% higher. It now trades at eight times my purchase price and pays a distribution equal to 50% of the purchase price.

Despite all this appreciation, I think it will continue to increase production and profits. I just bought another big block in my IRA when I realized that an increase in distribution was probably in the offing.

I have been severely criticized on the oil sands thread for my continual recommending of COS.UN and was banned some time back from that thread because I said here that I thought it had been overrun by ignorant speculators. You may, however, learn about other oil sands stocks there. One new factor is the intent of the Alberta government to make large increases in the royalties they take from such projects. COS.UN is supposed to have a contract running to 2015, but Alberta wants to break the contract. Even with increased royalties, COS.UN ought to repay investment. Some of us would not be surprised to see an attempted preemptive buyout of the whole syncrude project by Exxon, though I do not know if that is legally possible. Another possibility at some point might be nationalization of the tar sands by Canada.

cos-trust.com
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