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To: flatsville who wrote (12792)	8/22/2000 1:19:26 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

allow me to chime in...oil and gas royalty trusts are ideally bought at the bottom of the cycle. that's definitely not where we are. the danger is that once oil and gas prices turn down again, yields will shrink, and with them the prices of the o&g trusts. at the bottom of the cycle, Torch Energy had more or less the same yield as now, with the stock trading 45% lower. so in the meantime one would not only have reaped nice capital gains, but would have profited from rising divvies as well, a sort of double leverage. it works in reverse when energy prices fall.