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

To: LLCF who wrote (416)	6/29/2000 5:42:00 PM
From: David Culver	Read Replies (1) \| Respond to of 11633

Thanks you very much nice to see the quick response from the firm. I am not overly concerned when the distribution starts at these oil prices the cash flow has to be great. dave

To: LLCF who wrote (416)	7/1/2000 12:10:05 PM
From: Lorne Larson	Respond to of 11633

I called Carmichel about 6 weeks ago, and he also returned my call immediately. I was impressed with the fact that he was very open about the various options being considered by the company. He was also very aggravated with his present bankers. It seems to me that if you're in MXT for a time horizon of 6 months to a year, it doesn't really matter whether they pay down debt or reinstitute dividends. Both are legitimate uses of cash flow. What counts is the amount of cash flow. (Interesting in this regard to hear that Carmichel says they're paying down debt even faster than previously estimated.) Of course if you're looking for an immediate bump in the price, reinstating dividends would do the trick. Personally I would rather see them use the money for debt reduction. Allows me to accumulate more shares, and will mean a larger dividend when it is in fact reinstated.