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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (35401)	9/29/2004 12:14:48 PM
From: chris714	Read Replies (1) \| Respond to of 206321

<<<Anyone know why PGH is tanking? Any prognostications going forward?>>> I'm not 100% sure but I believe that 2 reasons could be: (1)standard correction of an overly exuberant run-up...PGH has had a much bigger run-up of late than has ERF. Many people think that ERF has the better fundamentals of the two. (2) could also be due to fears of a selloff regarding Canadian vs. foreign ownership issues. BTW...my favorite in the sector is Peyto PEY/UN.TO Chris

To: chowder who wrote (35401)	9/29/2004 12:26:18 PM
From: profile_14	Respond to of 206321

Dabum, PGH went ex-dividend on 9/28/04. The announcement date was 9/21/04 and the record date is 9/30/04. The pay date is 10/15/04. With a 12.21%+ yield according to Bloomberg in real time, that is the reason for the major pullback in price in my opinion. The distribution relates to the production in the month of August, which represents the 3rd full month of net revenue and cash flow from the Murphy acquisition. Cash distributions paid out during the last twelve months now total about US$1.92 per trust unit. Hope this helps. Best regards,

To: chowder who wrote (35401)	9/29/2004 1:23:08 PM
From: upanddown	Respond to of 206321

Dabum Huge runup to the dividend for PGH. Now it is really just back to where it was a week ago. Sometimes it is better to sell just before the dividend. I was planning to check the price late on Monday but didn't get back from the golf course before the close. Hard to complain though since the Canadian energy trusts have been wonderful investments in the last couple of years. John

To: chowder who wrote (35401)	9/29/2004 9:25:20 PM
From: Taikun	Respond to of 206321

Dabum, IMO, the current response by many of the CRTs is similar to March/April 04, 1. In March the Canadian FM tabled a proposal to cap non-resident ownership as they did again Sept 16, 04. Canadian Parliament begins next Monday and once the debates start on this it will be all over the media. 2. In April US interest rates and the FOMC decision (or non-desision really) pushed the market down. As I believe profile pointed out this is the first dividend payment since the Bank of Canada raised the Benchmark rate. (CRT investors are concerned about the impact of interest rates on debt since previous interest rate increases increased borrowing costs, and a selloff over interest rates has occurred) 3. In March/April the CRTs had just completed quite a run similar to the one from August to now, and subsequently sold off 4. The failure of oil to rise over $50. (?-not sure on the impact of this) 5. Since I do not own PGH at present, I do not know the status of their Forex hedging but for some CRTs the rise of the CDN$ (up aprox. 20% YTD) is negatively impacting earnings. Not sure if that helps, David