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

To: Seeker of Truth who wrote (7657)	9/19/2004 1:23:51 PM
From: LTBH	Respond to of 11633

Confused, not sure what trust you are discussing, however Paramount Energy Trust symbols are PMT.UN for TSX or PMGYF on OOTC and PMT_U.TO for Yahoo lookup. Paramount estimated ROC is ~50% for 2004 IIRC. In US tax deferred accounts, as long as your broker has properly registered your account, no Canadian tax is with held. In US taxable accounts, 15% of the GROSS proceeds are with held at the source (NOT by your broker). Some small portion of this Canadian tax is usable as either a tax deduction or tax credit. The IRS will NOT allow claims for the whole amount Canada has with held as they have over with held by also taxing the ROC component. To reclaim this over with held amount you must submit to the Canadian authorities which they have made very costly and to my knowledge the few that have attempted are still waiting after several years. In 2002, I was able to get a tax credit of ~1% of the IRS Allowable tax Canada with held, In 2003, I did much better at ~40%. The credit is a simple one line checkoff on the 1040 IF no more than 300/600 for single/joint AND you did not hold any partnerships or several other overides which throw you into the form 1116 free for all. IMHO, take what little credit your accountant calculates and write off the Canadian over with holding as cost of doing business For what it is worth, I am a US resident and have held PMGYF in 2 IRAs, 1 Roth and a taxable account since shortly after it trusted and before the first price blowup. I also have continued to add during that time until very recently. Luck Networm

To: Seeker of Truth who wrote (7657)	9/20/2004 1:55:30 PM
From: Taikun	Read Replies (1) \| Respond to of 11633

Hi Malcolm, I took a position in the Canadian Total today: finance.yahoo.com I read their Annual Report 1. 03 revenues doubled from 02, 40% increase in earnings margins. 2. Heavily exposed to drilling in Western Canada-which is growing rapidly 3. Possibly converting to a trust 4. For the six mos ending 6/30/04 grew revenue 40%, net earnings 30% 5. The fund manager David Taylor (no relation), on RobTV, pegged the value at $10+ if in a trust format. P/E is 10.7, for comparison here are a few other CDN service co P/E's PDS: 16.64, SLB 38.96, ESI.TO 13.01 At $5.60 I think this could appreciate 25% just to get to ESI.TO's level. TDG_U.TO's PE is 32.74 As a trust, TOT.TO would be worth much more. Best Regards, David Taylor

To: Seeker of Truth who wrote (7657)	9/21/2004 11:22:46 AM
From: Tommaso	Respond to of 11633

Hi Malcolm, Just another Energy Split bulletin. According to my model portfolio, the value of the ES portfolio is up 9.25% from the middle of the summer. It is rising so fast that it might possibly eliminate the premium, and in any case strongly supports the price of ES itself. It will be exciting to see what happens if it's a cold winter, natural gas spikes up, trust distributions increase, and the prices of their shares rise. Maybe there is pie in the sky after all.

To: Seeker of Truth who wrote (7657)	9/21/2004 5:53:17 PM
From: Taikun	Read Replies (1) \| Respond to of 11633

Hi Malcolm. I added Zargon as possibly the next Peyto. ZAR.UN 8400 BOE/Day, 60% gas 405,000 net acres to develop P+P BOE 1.39/share (ARC: 1.40, Peyto 1.12, Penn West 1.46, Canadian Oil Sands 3.44, using oilpatchupdates) 2004 E&P + Acquisition budget: $45m Payout rate: 50% Debt/CF: 0.1 RLI 8 yrs Distributions 100% taxable-holding in a sheltered account. Yield of 8% I took profits on PMT and rotated into ZAR.UN They call themselves the sustainable trust. I like that. Regards, David