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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 (5000)	12/6/2002 8:19:29 PM
From: CharlieChina	Respond to of 11633

Then, I like your thinking for the physical of Gold has comfort

To: Cogito Ergo Sum who wrote (5000)	12/7/2002 3:42:36 PM
From: russet	Read Replies (2) \| Respond to of 11633

DECEMBER 6, 2002 - 18:30 EST Provident Energy Trust Announces Increase in December 2002 Cash Distribution CALGARY, ALBERTA--Provident Energy Trust ("Provident") (TSX - PVE.UN; AMEX - PVX) today announced the cash distribution for December 2002 has been increased to Cdn $0.20 per trust unit. The December 2002 cash distribution will be paid on January 15, 2003 to unitholders of record on December 17, 2002. The ex-distribution date is December 13, 2002. For unitholders receiving their distribution in U.S. Funds, the January 15, 2003 cash distribution will be approximately U.S.$0.1281, based on an exchange rate of 1.5612. The actual U.S. dollar distribution will depend on the U.S./Canadian dollar exchange rate on the payment date and will be subject to applicable withholding taxes. Based on the December 5, 2002 closing price of Cdn $9.90 (TSX - PVE.UN) per unit, the declared December 2002 cash distribution represents a cash-on-cash yield of approximately 24 percent. The Trust estimates that, for Canadian residents, approximately 50 percent of the 2002 cash distributions will be tax deferred. The December distribution brings total declared distributions for 2002 to Cdn$2.03 per unit and represents approximately 88 percent of forecast 2002 cash flow, net of the interest payable on Provident's convertible debentures. The increase in the monthly distribution is attributable to higher crude oil and natural gas prices supported by Provident's Commodity Price Risk Management Program. The Trust has used a combination of fixed price and costless collar contracts to hedge between 70 and 80 percent of first quarter 2003 production. As a result of this program, and without significant changes in commodity prices, Provident forecasts distributions to be Cdn$0.20 per unit per month for the first quarter of 2003. For the remainder of 2003, Provident currently has approximately 45 percent of current production hedged. Provident Energy Trust is Calgary based, open-ended oil and gas trust that acquires, develops, produces and markets crude oil, natural gas and natural gas liquids and provides monthly cash distributions to its unitholders. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Forward Looking Statements This disclosure contains certain forward-looking estimates that involve substantial known and unknown risks and uncertainties, certain of which are beyond Provident's control, including: the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. Provident's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking estimates and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking estimates will transpire or occur, or if any of them do so, what benefits, including the amounts of proceeds, that Provident will derive therefrom.