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

To: kingfisher who wrote (756)	2/28/2001 11:41:24 AM
From: Lorne Larson	Read Replies (1) \| Respond to of 11633

Regarding CYZ I think you're right - I doubt the price will drop much more at this point. Announcement this morning that SHN has made an offer to take out Ionic. Interesting to compare the price paid by SHN (per flowing BOE and per reserves) to the price paid by PWI for Cypress. Looks like PWI paid more, but Cypress has a much lower operating cost structure. Price paid on a cash-flow basis looks pretty similar. The same arbitrage game is happening with the SHN/Ionic shares - price of SHN immediately dropped about .60. What is interesting is that SHN goes ex-dividend in March on its 1st Q distribution, which should be around $1.00 again. The Ionic shareholders will not participate in this one according to the press release. Will have to see if there are any plays on this. Regards

To: kingfisher who wrote (756)	2/28/2001 12:05:51 PM
From: LLCF	Read Replies (1) \| Respond to of 11633

Just bid for a slug as well, thanks for the heads up all... my portfolio sure looks good compared to the general markets. Your average investor is learning the beauty of dividends in a hurry. DAK

To: kingfisher who wrote (756)	3/3/2001 9:30:11 AM
From: Lorne Larson	Read Replies (2) \| Respond to of 11633

I see that PWI is going to do a dog and pony show for analysts in Toronto, Montreal and Calgary next week. I hope they're going to speak in nothing more than 2 syllable words, and use lots of simple cartoon-like pictures. Based on market reaction, most of these guys are obviously too stupid to understand the deal in any other way. Maybe they should simply provide a one-page sheet of paper that says: BOUGHT THE ASSETS AT LESS THAN 3 TIMES CASH-FLOW, AND IMMEDIATELY HEDGED MOST OF THE PRODUCTION TO LOCK IN TODAYS PRICES = GREAT RETURN AT NOMINAL RISK.