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

To: Cogito Ergo Sum who wrote (2245)	12/17/2001 6:29:08 PM
From: sportsman	Read Replies (2) \| Respond to of 11633

George, It appears our welfare checks are going to take a significant cut. I wonder when they go to zero? <g> I will be out of PWI in the morning, hedges can't even hold up distributions. I'm going to hold AVN and hope their hedges support their distributions much better than PWI. Sportsman

To: Cogito Ergo Sum who wrote (2245)	12/17/2001 7:12:36 PM
From: David Alon	Respond to of 11633

Including the regular 10 cent per unit distribution payable in January, PrimeWest will have paid a total of $2.31 per trust unit during the previous 12-month period (February 2001 through January 2002), and $7.78 per trust unit since inception in October 1996. To compare Primewest with AY, including this month's dist., they have paid out approx. $10. and they started a little after Prime. The problem with Prime is they overpaid on some assets and diluted themselves because of that. I would only buyAVN and AY at this point. AVN because of their hedge program and because it's relatively small, and AY because of what I see is good management. But if prices of oil and gas collapse, I will admit they will go down with it. At this time, I have 15% of my portfolio with the oil and gas trusts. To quote from the Globe, PrimeWest under pressure Friday, December 14, 2001 Andrew Bell TORONTO (GlobeinvestorGOLD) -- Battered unitholders in PrimeWest Energy Trust, one of the biggest oil and gas income funds, this week approved a plan to simplify the fund’s sprawling structure. But it doesn’t look as if they'll get relief from a slumping unit price any time soon, at least until natural gas prices come back to life. PrimeWest, which has a hefty stock market capitalization of almost $800-million, slumped as low as $6.18 on the Toronto Stock Exchange this week, the lowest price since 1999. As of this week, the trust’s units had dropped 30 per cent this year. That’s in line with a slide by the $1-billion Pengrowth Energy Trust. But Pengrowth has its own troubles, including November’s departure of widely respected chief financial officer Robert Waters, and questions over the $265-million price it paid for a stake in the Sable natural gas project off Nova Scotia. The showing by PrimeWest’s units is much worse than the performance of other big other energy trusts such as the $1.2-billion Arc Energy Trust, which is still up about 3 per cent this year. PrimeWest’s big problem is that it’s widely seen as having over-paid when it shelled out almost $800 million, mostly in trust units or shares of a subsidiary, for natural gas producer Cypress Energy this spring. Cypress co-founder Don Archibald couldn’t resist a little boasting about his coup: “We were happy to sell at the top,” he told Canadian Business.