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

To: bhartley who wrote (613)	11/20/2000 6:50:57 PM
From: Braincramp	Read Replies (2) \| Respond to of 11633

My interpretation of the latest press release, is that Maximum has a limited partnership with a bank that has assets from a foreclosure, such as what occurred with Merit Energy. Therefore allowing Maximum to operate the property and paying interest payments directly to the bank. The property that Maximum gave to the limited partnership is the difference between the debt and the partnerships assets. This is the only logical scenario that I can figure out at this time as this would make sense for both parties involved. Based on a conservative figure of around $ 35,000 per producing barrel this should give them approx. $ 2,200 barrels of extra production. From what I interpret, the extra production would be gas production which would give the trust a 50/50 mix.

To: bhartley who wrote (613)	11/20/2000 8:31:03 PM
From: Lorne Larson	Read Replies (2) \| Respond to of 11633

I guess we'll know the short-term picture when they announce the amount of the dividend. Stock price is holding up pretty good, considering the new issuance at $3.5, which would lead one to believe the distribution will be healthy. I found the press release somewhat confusing. As I understand it there is a major acquisition being considered in addition to the partnership interest acquisition. In other words the 185 barrel exchange for the 92% partnership interest is not the "proposed major acquisition", this proposed major acquisition being a "premium long-life producing property". Is this the way everyone else reads this? I also note that the press release indicates that this acquisition is "accretive" to MXT's distributable cash. I hope this means that the delay in announcing the dividend is too see if they can distribute more than originally planned, as opposed to reducing the distribution.