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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Scott Mc who wrote (373)	6/12/2000 12:35:00 AM
From: Lorne Larson	Read Replies (2) \| Respond to of 11633

Scott, do you know if the ERF.G shares will trade on a consolidated basis on Monday? They've got a presentation on their web-site which indicates a Q1 annualized distribution of $4.56/Unit. That's a yield of 23.75% based on a $19.20 consolidated share price. The 40/60 gas/oil ratio is also one of the higher ones amongst the trusts. Trading action on Friday was kind of strange. Started out quite strong, but faded near the end of the day. Closing bid/ask was $3.14/$3.25. Starting to wonder though if there is going to me any real dip in the price after the consolidation. A drop to $18.00 would result in a yield over 25%. This trust has a good CF/Debt ratio, and I don't believe does any hedging (at least they haven't announced any in press releases). Seems to me it's way undervalued at $19.20 and would be a steal at anything under $18.00, particularly if NG prices stay high, as the experts seem to be predicting. I'm definitely going to be buying. Only question is whether to wait and see if there is a post-consolidation dip. Still picking away at MXT. Closest thing to a sure thing I've seen in a long time.