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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (5219)	12/12/2001 12:23:03 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Russ, if you're talking about energy trusts ... I don't like them at all. I'm not the type to invest in tax shelters, especially a shelter that depletes it's reserves in return for a dividend. And as you might expect, because you invest for the dividend you might just get it in your head to buy and hold and that's what we don't do in the patch. Other than that it's a legal money laundering scheme -- but that's my opinion. As for "long-lifers" Canadian Oilsands Trust is the only one I can think of and it's a large part of the Syncrude project which is expanding it's mining operations along with it's partners, so having said that -- it's the only energy trust that doesn't deplete it's reserves. BTW; other than Suncor (90% oilsand), it's the only pureplay in the tarsands business. syncrude.com ...and for valuation wise? long, long, l-o-n-g term they're great -- but short term -- if we fall to $12 oil you'll be killed ... these guys have been spending a fortune expanding their operations. Regards Frank P.