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

To: Scott Mc who wrote (407)	6/23/2000 8:59:00 AM
From: kingfisher	Read Replies (1) \| Respond to of 11633

I replayed conference call discussing this acquisition and am reinforced in my opinion that this is a great deal for Prime West. ROI is currently flowing $17 million of cash flow after debt servicing.Prime West is paying slightly less than 4.5 times cash flow and are picking up 300,000 acres of land in which not a penny needs to be spent by Prime West to develop since they are part of royalty deals.ROI have cleaned up their hedges with only 2 outstanding remaining from an original 19 hedges. Also I have a hunch that since Prime West has outperformed its peers in the industry and with 2 recent acquisitions they have enough shares outstanding and market capitalization and liquidity to be included in one of the tse indexes. Also during conference call it was suggested that 2nd quarter results would be very strong.They flowed .50 cents cash flow in 1st quarter with gas at $3. Second quarter will include gas at $5 and the addition of Vennator cash flow. Have a good one, Richard P.S In 1996 shares were issued at $9 and net asset value was $8.50.They proceeded towards $12.Current net asset value undiscounted probably around $9.