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

To: Tommaso who wrote (5588)	2/26/2003 9:54:17 AM
From: Marc Fortier	Respond to of 11633

Well, I can assure you that I got some in my account.

To: Tommaso who wrote (5588)	2/26/2003 10:55:42 AM
From: a.handbag.	Read Replies (3) \| Respond to of 11633

Over on Stockhouse they are analyzing the energy trusts to death. Analyzing the past is factual. Trying to extrapolate forward is a guessing game. An analogous situation is Morningstar's rating of mutual funds. Research shows that it has zero or negative predictive value. For the energy trusts we would love to know forward cash flow per unit, for how much we will get, and forward reserves per unit, for how long it will last. In my opinion there are too many variables at work to attempt an answer. I am keeping my PWI and hoping for the best.

To: Tommaso who wrote (5588)	2/26/2003 11:20:10 AM
From: Gulo	Respond to of 11633

I am still waiting for someone to explain to me where all of PWI's income went to for 2002 I can answer that. Revenue was down due mostly to lower prices. Expenses were up due mostly to increased depletion and to buying out the management contract. 2002 2001 Net revenue 264,248 306,515 Expenses: Depletion, etc. 181,956 159,332 Cash internalization 3,598 - Non-cash internalization 13,124 - Total Expenses: 293,041 254,885 Operating Income (28,793) 51,630 Add $30M in future tax recovery each year and we break even in 2002 but earn $80M in 2001. -g