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Gold/Mining/Energy : Canadian Oil Sands Trust -- Ignore unavailable to you. Want to Upgrade?

To: gregor_us who wrote (6)	2/28/2007 9:14:42 PM
From: Wyätt Gwyön	Respond to of 15

Separately, Wednesday, the Harper government suggested it may include the income trust legislation in the March 19 budget bill. This would force MPs opposed to the tax to either back the full budget or defeat the entire fiscal plan – and prompt an election. it would be ironic if this tax proposal ends up with a dissolution of the government. i still don't understand how the Conservative could back such a ridiculous proposal. at least it seems the Liberals and Quebecois can form an opposition majority: The recommendations were largely authored by the Official Opposition Liberals and the Bloc Quebecois, which have enough seats to command a majority on House of Commons finance committee and control the writing of the main report. regardless of what happens, i think the trusts will adapt to the new structure. one good thing (to my mind) is that COS is going to be raising its payout percentage sooner rather than later.

To: gregor_us who wrote (6)	4/25/2007 4:15:14 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 15

COS dividend up to 40 cents! Canadian Oil Sands Trust announces 2007 first quarter results and a quarterly distribution increase to $0.40 per Trust unit Calgary, Alberta (April 25, 2007) – Canadian Oil Sands Trust (“Canadian Oil Sands” or the “Trust” or “we”) (TSX - COS.UN) today announced first quarter 2007 results and a 33 per cent increase in the Trust’s quarterly distribution to $0.40 per Trust unit (“Unit”) for Unitholders of record on May 8, 2007, payable on May 31, 2007. Net income in the first quarter of 2007 increased to $262 million, or $0.55 per Unit, from $91 million, or $0.20 per Unit, during the previous year’s same period. First quarter 2007 cash from operating activities was $202 million, or $0.42 per Unit, compared to $187 million, or $0.40 per Unit, in 2006. Non-cash operating working capital requirements, primarily a result of higher accounts receivable, reduced first quarter 2007 cash from operating activities by $94 million. Net income and cash from operating activities reflect higher revenues as a result of incremental Stage 3 production, less turnaround and maintenance activity compared to the prior year, and a larger Syncrude working interest. As well, net income and cash from operating activities benefited from a 41 per cent reduction in per barrel operating costs quarter-over-quarter, offset somewhat by a higher Crown royalty expense. Crown royalties increased to $9.58 per barrel in 2007 from $0.67 per barrel in 2006 with the shift to the higher royalty rate of 25 per cent of net revenues from the minimum one per cent of gross revenue, which occurred in the second quarter of 2006. In the first quarter of 2007 Syncrude paid royalties totaling $256 million to the Province of Alberta. The Syncrude project began paying the higher rate at roughly the same time as the Stage 3 expansion was completed as a result of robust crude oil prices, which increased revenues from the base plant and accelerated project payout. “Reflecting our constructive view of our free cash flow over the next several quarters and our intention to move to fuller payout of that free cash flow, we are very pleased to announce our third distribution increase since our Stage 3 project funding began to diminish,” said Marcel Coutu, President and Chief Executive Officer. “Reduced capital spending, growing volumes from our recently expanded facilities and a renewed focus on costs and operational reliability are cornerstones of our current operation. These form the foundation upon which our next growth stages will be launched.”