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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (38930)	8/23/2010 8:44:02 PM
From: E_K_S	Read Replies (1) \| Respond to of 78673

Hi Paul RE: ERF & PWE I have been harvesting my losses and buying back after 31 days. Therefore, it's not really an add but basically reducing my average cost basis. I then use the losses to off set my stellar gains. It's not the best way to work a stock but at the right price (ie cost basis) both PWE & ERF are good core positions to hold. From their presentation ERF has 7-10 years of reserves that can be used to make the current distributions even if nothing is replaced. My strategy is to use this as a parking space for capital (as long as my cost basis is low) and then from time to time I can peel off shares if I need a source of funds. I will be adding TOT tomorrow as I believe they go x-dividend. I have been picking through my stocks to build a sell list and am really working hard to pull the trigger on several winning positions that are in fair value territory. The decision is difficult as (1) I have good profits that I need to book, (2) they are still ok "buys" but not as good when I originally bought, (3) I have identified some new buy candidates but I think I will get better entry points in the future. So do you sell now or just wait? Therefore my new strategy is to make several partial sells now similar to when I create a new position, park the cash in some steady high yield equity (or fund) for 30-90 days and eventually I hope to get several good buying opportunities that will allow me to establish some new "value" buys in out of favor sectors. If I need a source of funds, I can then peel off shares from one or more of my parking high yield funds (ERF, PWE, PVX, TPZ, or PFD). Note: All of these funds in my list pay their distribution monthly which is good for my cash flow needs. I believe you even posted a few high yield bond funds you are using in a similar manner. A new screen on my Schwab Street Smart Pro allows me to sort my positions by "Dividend Yield" so I can actively monitor my positions w/ this sort key in mind. I also use the PE field as a secondary sort so I can also apply a "value" metric filter. EKS

To: Paul Senior who wrote (38930)	9/22/2010 11:12:16 AM
From: E_K_S	Respond to of 78673

Re Enerplus Resources Fund (ERF) Enerplus Acquires Bakken and Marcellus assets and sells Kirby Oil Sands lease and other non-core assets finance.yahoo.com Enerplus has added approximately 450,000 net acres of highly prospective land in both Canada and the U.S. creating new growth areas that are expected to add production and reserves in the years ahead. o Enerplus has entered into an agreement to acquire an additional 46,500 net acres (72 sections) of land in the Fort Berthold area of Dunn and McKenzie counties in North Dakota. The acquisition includes approximately 800 bbls/day of light crude oil production and proved plus probable reserves of 10 million BOE primarily attributable to the Bakken formation based upon our internal evaluation. This compliments our existing estimate of eight million BOE of unbooked proved plus probable reserves in this area. o Enerplus closed the acquisition of 58,500 net acres of undeveloped land in the Marcellus shale natural gas play in northwest West Virginia and Maryland.... While no proved or probable reserves have been acquired, we estimate original gas in place on this acreage of approximately 50 to 60 Bcf per 640 acres. o Enerplus has entered into an agreement to sell 100% of its Kirby steam-assisted gravity drainage oil sands lease for gross proceeds of $405million. ===================================================================== ERF is consolidating their Oil & NG reserves and selling their producing Kirby Oil Sands Lease where they should net $150 million on the transaction. EKS