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

To: Lorne Larson who wrote (3091)	3/31/2002 10:05:14 PM
From: russet	Respond to of 11633

The reserve estimates (in terms of boe) being hit the hardest are in the newer fields that have short track records. Initial flow tests, production etc., implied strong producing futures, but subsequent production showed quicker declines than predicted. The tried and true tested fields with long producing records should not get hit to the same extent,...so I'm told. Reserve estimates converted to dollar amounts will likely all decline, due to the drop in average oil and gas prices from last year,...but I don't think that's what you meant. Which trusts get hit from the former factor will depend on what fields they are producing from. Many trusts have the largest portion of their reserves attributed to older fields having considerable production data. I think this should allow them to fare much better in these downgrades than companies like Paramount and Rio Alto,...at least as a group. A good knowledge of the fields, and which have forced companies to downgrade reserve estimates would be a good thing for an investor to know right now. Anyone know anything bad about the fields PVE.un and AY.un are producing from?