ENERGY TRUSTS / NCE Petrofund (NCF.UN) February Distribution 5 Cents
($0.05) / Unit
TSE SYMBOL: NCF.UN
FEBRUARY 10, 1998
TORONTO, ONTARIO--John Driscoll, President of NCE Resources Group,
announced today that NCE Petrofund Corp. has declared a cash
distribution of 5 cents ($0.050) per unit for the month of
February, 1998.
Date payable
The distribution is payable on February 27, 1998 to holders of
record on February 16, 1998. Distributions are made monthly.
Distributions for the past 12 months total 74 cents ($0.74).
Oil and gas prices
A warm winter has resulted in high oil and natural gas inventories
and lower prices. These have been partially offset by the lower
Canadian dollar and unsettled politics in the Middle East that
threaten supply.
NCE Petrofund
NCE Petrofund is a royalty trust that derives income from
producing oil and gas properties, primarily located in Western
Canada. It trades on the Toronto Stock Exchange under the symbol
NCF.UN.
Current price
The price for NCE Petrofund on the Toronto Stock Exchange at the
close of the market, February 9, 1998, was $4.10 per unit.
continued on next page
Distributions
Distributions for the past 12 months are:
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Month Amt. of distribution
March 1997 $0.080
April 1997 $0.070
May 1997 $0.070
June 1997 $0.060
July 1997 $0.060
August 1997 $0.060
September 1997 $0.060
October 1997 $0.060
November 1997 $0.060
December 1997 $0.060
January 1998 $0.050
February 1998 $0.050
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Total 12 month distribution: $0.74
NCE Resources Group
NCE Resources Group was formed in 1984 as an oil and gas
investment management organization. NCE investment funds have
interests in over 5,000 wells. NCE employs approximately 130
people in the areas of engineering, land management, marketing,
geology, accounting, finance and investor relations. It provides a
full range of technical, operational, administrative and investor
services. Based on total oil and gas production, NCE ranks among
the top 30 oil and gas companies in Canada.
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Investor Services
Hours of service*: Monday -- Thursday 8 a.m. - 8 p.m.
Fridays 8 a.m. - 6 p.m. Eastern
Time
*except on Canadian statutory holidays.
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