Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David Michaud who wrote (382)	6/14/2000 9:34:00 AM
From: Scott Mc	Read Replies (2) \| Respond to of 11633

ERF.G trading around $19.50 = 3.25 pre cons..Scott Shiningbank to make quarterly distribution Shiningbank Energy Income Fund SHN.UN Shares issued 11,791,833 Jun 13 close $12.70 Wed 14 Jun 2000 News Release Mr. Arne Nielsen reports Shiningbank Energy Management, manager of the Shiningbank Energy Income Fund, today announced the quarterly distribution to unit holders for the second quarter, 2000. The ex-distribution date for this distribution is June 28, 2000, and the record date for the distribution is June 30, 2000. The distribution will be made on July 15, 2000. The amount of the distribution will be $8,259,344.42, or 58 cents per unit, based on total units outstanding of 14,240,249. Strong oil prices and continued strength in natural gas pricing have supported this record quarterly distribution. This distribution for second quarter 2000 brings total distributions for the last 12 months to $1.95 per unit, resulting in a cash-on-cash yield of 15.6 per cent based on recent unit prices. The distribution marks the fifth consecutive increase in distributions since first quarter 1999. Shiningbank's continued leverage to natural gas has the fund well positioned to take advantage of strong natural gas markets. Shiningbank recently closed the acquisition of Raider Resources Ltd., a junior oil and gas exploration and production company levered to natural gas. On June 2, 2000, the offer expired with over 94 per cent of the Raider shares tendered. The remaining shares will be acquired pursuant to the compulsory acquisition rules before the end of June, 2000. This acquisition has been recorded effective June 1, 2000, and is accretive to Shiningbank's unitholder distributions, net asset value and gas weighting.