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

To: Lorne Larson who wrote (3276)	5/9/2002 7:57:04 PM
From: David Culver	Read Replies (1) \| Respond to of 11633

I agree I own pengrowth but would not buy more the smaller trust can do the smaller deals which can be profitable. I am also not sure if the Sable Island deal was that good for pengrowth

To: Lorne Larson who wrote (3276)	5/10/2002 12:47:44 AM
From: russet	Respond to of 11633

There seems to be two philosophies amongst the trusts,...well maybe more but I see two. One is the quest for long life reserves,...but with long life comes higher prices when they try to buy new supplies. When they go to float new share issues they don't have much problem because the shareprices seem to be stable and they are backed by the analysts who love long life reserves. Then there are the trusts that go after shorter life reserves, but pay a lot less per barrel to acquire them. These ones coincidentally also seem to be the ones paying the highest monthly distributions possibly because their reserves came at lower costs and they know they need to float more shares or convertibles to acquire new properties so they pander to the brokers with high returns so bought deals will be bought by the public with no risk to the brokers. As long as there is lots of shorter life reserves to buy, it seems shareholders and brokers can both eat lots of cake with high distributions and underwriting fees.