FREEDOM 51 !!!!!!!!!!!!!!!!!!!!!!!!
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I'll bite... looks like it could be a good one only 1.3 million o/s. After the f/s it will still be very low o/s so it has excellent potential to move higher
It's been a good money maker for me several years ago as it used to have pretty regular swings but it's been drifting down the last few years without bouncing. I got back in last fall when it finally started dumping under .05 again.....
Re: CJGH......TAKI's post intrigued me the other day I coated mine with steel and took a good chunk at .065 yesterday.
COWP another pump on nothing sooner or later it always seems to have a nice run.... been a while since the last one... Good for me though as I put shares out for sale at .15 and .20 and they took em :):):)
Filled a couple yesterday 16.00 buks a tank. Was 12.00 last year
Yup... Not my type of play either.... However I did feel right at home picking up 100 shares here and there sitting on the bid after the roll back. Guessed right about them running it up before blowing it out like they are now....
YUP sold my 3k shares between 6.00 an 6.50 second guessed myself seeing it head higher but feel prutty gud now :):):)
Same here... was thinking of adding under a dime but it never really traded there in any signigicant quantity and in any event I forgot to even set a low alert on it :(:(
Did you just go short GXS ??
EIS.un results looked pretty good to me... It's been dragging because of it payout in stock policy but it's starting to move and is close to breaking out.....
Eveready Income earns $18.73-million in Q1
2008-05-09 07:49 MT - News Release
Mr. Rod Marlin reports
EVEREADY INCOME FUND ANNOUNCES 2008 FIRST QUARTER FINANCIAL RESULTS
Eveready Income Fund has released its 2008 first quarter financial results.
SELECTED CONSOLIDATED FINANCIAL INFORMATION
(in thousands of dollars, except per unit amounts)
Three Three
months months
ended ended
March 31, March 31,
2008 2007
Revenue $184,721 $143,972
Gross profit 56,971 45,547
Gross margin 30.8% 31.6%
EBITDA (earnings before interest, tax,
depreciation and amortization) (1) 36,469 24,942
EBITDA margin (1) 19.7% 17.3%
Per unit (1, 2) 0.42 0.34
Net earnings $18,734 $11,733
Per unit -- basic (2) 0.21 0.16
Per unit -- diluted (2) 0.20 0.16
------ -------
Cash (used in) provided by operating
activities (6,019) 2,875
Funds from operations (1) 31,762 22,723
Per unit (1, 2) 0.36 0.31
Distributions declared 15,351 13,080
Per unit 0.18 0.18
------ -------
Total assets 666,943 503,650
Total liabilities 363,074 235,144
Unitholders' equity 303,869 268,506
Notes:
(1) These financial measures are identified and defined under
the section non-GAAP financial measures in the the management
discussion and analysis available on SEDAR.
(2) Comparative unit and per unit amounts for the three months
ended March 31, 2007, were restated to reflect the dilutive
effect of the in-kind distribution declared to unitholders of
record on March 31, 2008.
(3) Certain of the comparative figures were reclassified from
statements previously presented to conform to the current
period's presentation.
Quarter overview:
Revenue for the three months ended March 31, 2008, was approximately $185-million, reflecting an increase of 28 per cent from 2007.
The company continued its expansion in the Alberta oil sands region, generating revenue of approximately $80-million from operations located in this area, compared with approximately $45-million in 2007. This represented 43 per cent (2007 -- 31 per cent) of the company's total revenue.
The company reported EBITDA of $36.5-million in the first quarter. This reflects an increase of 46 per cent from EBITDA of $24.9-million in 2007.
The company reported record net earnings of $18.7-million, or 21 cents per unit, in the first quarter, compared with net earnings of $11.7-million, or 16 cents per unit, in 2007.
The company invested $24.9-million (2007 -- $21.8-million) in property, plant and equipment during the first quarter, including $22.5-million in growth capital expenditures to expand the company's service offerings in several areas. These expenditures are part of the company's $78-million 2008 capital expenditure program. A large portion of the company's 2008 capital expenditure program is being incurred to support further revenue and earnings growth in 2009.
In January, 2008, the company announced strategic changes to its distribution policy, to maximize the retention of operating cash flow to reinvest in growth. Eveready's monthly cash distributions of six cents per unit (72 cents per unit on an annualized basis) were eliminated and replaced with a quarterly in-kind distribution of 18 cents per unit (72 cents per unit on an annualized basis). In March, 2008, the company declared an in-kind distribution of 18 cents per unit to unitholders of record on March 31, 2008.
TOPLF close to breaking out......
Trans-Orient Presents Video on its Fractured Oil-Shale Project
2008-04-23 15:58 MT - News Release
VANCOUVER, April 23 /CNW/ - Canadian-based oil and gas exploration company Trans-Orient Petroleum Ltd. (OTCBB: TOPLF) is pleased to announce that it has launched TransOrient.tv, which includes a number of informative video clips taken on a recent geological field trip to its East Coast basin fractured oil-shale project in New Zealand.
To view these short videos please visit: http://www.transorient.tv
Trans-Orient also advises that Mr. Drew Cadenhead, Chief Operating Officer, is scheduled to present to investment representatives, fund managers and private investors attending the Equities Mining and Resource Conference in New York City at 9:40 am, Thursday, April 25th at the Princeton Club of New York.
About Trans-Orient
Trans-Orient Petroleum Ltd. holds a 100% interest in two exploration permit areas totaling approximately 2.2 million onshore acres of the East Coast Basin of New Zealand. The acreage contains several exploration play types including an unconventional opportunity targeting the fractured Waipawa Black Shale and Whangai Shale formations. These high-quality source-rock formations are widespread and thickly developed across Trans-Orient's acreage and have a number of similarities to developing shale projects in North America.
CWIR looks like a pump coming up......
The powers that be are trying very hard to say there is not inflation. They can say anything the want and manipulate the numbers any way they want but I was driving by my neighborhood "Nothing over a Buck store" and the name of the store has now changed to " Nothing over Five Bucks store". Bernanke and his boys aren't fooling anyone but themselves...
All salmon fishing banned on West Coast
Peter Fimrite, Chronicle Staff Writer
Friday, May 2, 2008
Salmon fishing was banned along the West Coast for the first time in 160 years Thursday, a decision that is expected to have a devastating economic impact on fishermen, dozens of businesses, tourism and boating.
Commerce Secretary Carlos Gutierrez immediately declared a commercial fishery disaster, opening the door for Congress to appropriate money for anyone who will be economically harmed.
The closure of commercial and recreational fishing for chinook salmon in the ocean off California and most of Oregon was announced by the National Marine Fishery Service.
It followed the recommendation last month of the Pacific Fishery Management Council after the catastrophic disappearance of California's fabled fall run of the pink fish popularly known as king salmon.
It is the first total closure since commercial fishing started in the Bay Area in 1848.
Gov. Arnold Schwarzenegger declared a state of emergency last month and sent a letter to President Bush asking for his help in obtaining federal disaster assistance. Schwarzenegger plans to appropriate about $5.3 million for coastal salmon and steelhead fishery restoration projects.
The disaster declaration allows state officials to work with Congress on obtaining appropriations for businesses and fishermen and women, some of whom will lose as much as 80 percent of their annual income.
Although salmon spawning has been in decline all up and down the coast, the biggest problem is in the Sacramento River and its tributaries. So few salmon returned last fall that the fishery council was required under its management plan to halt fishing throughout the salmon habitat, which is all along the California and Oregon coasts.
The commercial salmon season off California and Oregon typically runs from May 1 to Oct. 31. The recreational season was to have begun April 5.
E-mail Peter Fimrite at pfimrite@sfchronicle.com
SXP.un 6.90 up .40 man o man i'm making a killing on these trusts yeehaw !!! Took almost 1/2 my money off the table late fall when the market bounced I should have took all my money off the table and put all of it into the trusts
Yuppers looking good and nice distribution to boot...
Ecuador May Be Worth a Punt
By Ben Abelson
22 Apr 2008 at 03:50 PM GMT-04:00
http://www.resourceinvestor.com/pebble.asp?relid=42145
SEATTLE (ResourceInvestor.com) -- The recent announcement by the Ecuadorian government of a dramatic revamping of mining policy has left investors in the country scrambling to dump shares of miners remotely affiliated with the developing South American nation.
While the language in the recent mining mandate is far from positive, it stops well short of outright nationalization. The new mandate calls for a 180-day suspension of all mining activities until a new mining code can be approved, and a limit of three concessions to any given mining company.
Investors would do well to be concerned by these new regulations. But, that being said, as any investor involved in developing nations knows, the risks of outright nationalization of mining projects is often well overblown. Beyond the disaster called Venezuela, government scares in Turkey, Mongolia, Eritrea and others over the past few years have created tremendously profitable opportunities for risk-seeking investors.
Witness the share price of Aurelian Resources [TSX:ARU], for one, which owns rights to one of the largest undeveloped gold deposits in the world. Worth more than C$10/share just days ago, Aurelian’s shares have sunk to as low as C$4 in the past few days on concern over its ownership stakes.
Aurelian’s FDN deposit contains some 13.7 million ounces of inferred gold – and Aurelian’s stake is worth only about C$500 million at today’s share prices. Even if one factors in the Ecuadorian government taking a very large ownership stake in this project upwards of 50%, these numbers don’t make much sense.
The price obviously reflects uncertainty in the outcome in Ecuador, which is certainly binary in nature – either the deposit is confiscated, or Aurelian retains some reasonable ownership stake and builds it. There are many good reasons to believe the odds favour the latter.
Given that the new mining mandate was reportedly drafted by a small faction of legislators, and that the Aurelian had previously made reasonable progress in negotiating with the Ministry of Mines for a stability agreement, there appears to be a reasonable hope that logic will eventually succeed in Ecuador.
Logically speaking, Ecuador will need an experienced mining company involved to have any hope of profitably developing FDN to help the country. The Ministry of Mines understands the difficulty of developing a large-scale mine, has generally been supportive of Aurelian’s efforts, and will likely get involved in the process long before any nationalization takes place.
That’s not to say there aren’t likely to be massive delays in FDN’s development, and that the government isn’t likely to take a big cut. But even with these reasonable assumptions for an outcome in effect, the numbers simply don’t make a tonne of sense.
CIBC analyst Barry Cooper finds a fair value of FDN at $12/share, assuming gold prices of $1,000/ounce, that Aurelian trades at its NAV, that the government takes a 50% ownership stake, and that there is a 10% discount rate for the project. Given the political situation and resolutions to prior conflicts in developing markets, these don’t appear to be unreasonable expectations to price in.
While tremendous risk remains in Ecuador, the fact of the matter remains that this is not another Venezuela run by pseudo-socialist dictator. For investors with speculative risk-taking ability, the shares warrant a close look. The prize of FDN’s massive deposit is too potentially lucrative to both the government and investors that it doesn’t get built in some shape or form. With the massive haircut in Aurelian’s share price, it seems more likely than ever that some of the major gold miners experienced in such political uncertainty start taking a very close look at the firm.
The same is true for other up and coming Ecuadorian developers, particularly Dynasty Metals & Mining [TSX:DMM], which was close to developing several sizeable deposits in the country. While exploration firms also have been tremendously bruised, we’d prefer to speculate on the rebound of developing producers as the value of these firms has been more clearly defined, and these firms have a more involved history of working with the government on the permitting and development of their deposits.
Pmt.un still moving higher :):):)
Almost everything that's had a symbol change in the last several months seems to be under the radar screen and can be traded online
FWIW TD outhouse finally took all the MXSV shares out of my account yesterday and reversed them to 0......
PMT.un rocketship!!!!!
Re:PMT.un this has been a huge winner plus great distributions. Outlook for natural gas looks great. Fellow on BNN this morning mentioned a lot o&g companies may surprise on the upside when the next set of earning come out as market just not believing these prices:):):)
RUBD--No more more Rub a Dub Soap... looks like name change coming up....
http://www.secinfo.com/dUqRq.t81.htm
ASNL still some life left here it looks like... It's deep down in my baghold bag somewhere... http://www.secinfo.com/dV3p8.t1fh.htm
The trust sector section of my p/f has been doing handstands. Thankfully I took a lot of money off the table earlier last summer and moved it into trusts. Should have took more money out but who would have thought that with gold skyrocketing that gold stocks in particular the juniors would do so poorly. The otccb section of my holdings are particularly "dead".
AGDI unsual trading today
Damn liars running these companies sure isn't going to instill any confidence in the markets anytime soon... Not only that but they have the gall to pay themselves huge salaries and when things go wrong they give them selves huge pay raises to reward themselves for their lies and stupidity
Re; PKRC It seems the move higher after most f/s' are taking a little longer these days with mm's initially lowballing the bid. My guess is they are making the quick flip wankers pay the price if they try get out right after the split.. Once the wankers are out up she goes......
DLPC looks like it could be a good one after the f/s
UHCR .10 moving even nicer today
PMT.un up .23 yeilding over 15% and a POR of only 55% gotta like that
I believe tomorrow will be the last day as Friday is the ex-date
DLPC - Dialpoint Communications Corporation Common Stock
Declaration Date:
Ex Date:3/14/2008
Record Date:3/13/2008
Payment Date:3/13/2008
PARAMOUNT ENERGY TRUST RELEASES YEAR END 2007 FINANCIAL AND OPERATING RESULTS
Paramount Energy Trust (PET) has released its fourth quarter and year-end 2007 financial and operating results. Increased production and gains from the trust's commodity hedging program helped offset weaker natural gas prices, leading to solid financial results in 2007. The full text of the trust's audited consolidated financial statements and related management's discussion and analysis can be found on PET's profile at the SEDAR website as well as on the trust's website.
PET is also pleased to confirm that its distribution to be paid on April 15, 2008, in respect of income received by PET for the month of March, 2008, for unitholders of record on March 31, 2008, will be 10 cents per trust unit. The ex distribution date is March 27, 2008. The March, 2008, distribution brings cumulative distributions paid since the inception of the trust in February, 2003, to $12.224 per trust unit. The trust also announces that there will be no trust units available under the optional cash payments component of its distribution reinvestment plan (DRIP) following the trust's distribution payable on March 17, 2008. Optional cash payments that had been received by Computershare Trust Company of Canada (the agent) in accordance with the DRIP no less than three business days prior to the Feb. 29, 2008, distribution record date will be accepted with respect to the distribution payable on March 17, 2008; however, no additional optional cash payments will be accepted until further notice. Optional cash payments received by the agent subsequent to Feb. 29, 2008, will be returned by the agent.
Conference call and webcast
PET will be hosting a conference call and webcast at 10 a.m. MT on Wednesday, March 12, 2008, to review this information. Interested parties are invited to take part in the conference call by dialling one of the following telephone numbers 10 minutes before the start time:
Toronto and area: 1-416-644-3421
Outside Toronto: 1-800-594-3615
The webcast will also be archived shortly following the presentation up until March 19, 2008. For a replay of this call, please dial 1-416-640-1917 (in Toronto and the surrounding area) or 1-877-289-8525 (outside Toronto), and enter passcode 21265364, followed by the number sign. To participate in the live webcast, visit PET's website.
Fourth quarter 2007 results include:
Production increased 32 per cent to average 190.3 million cubic feet per day, compared with 144.6 million cubic feet per day for the fourth quarter of 2006, primarily resulting from additional volumes from acquisitions completed in 2007.
The trust's realized natural gas price decreased to $7.07 per thousand cubic feet for the three months ended Dec. 31, 2007, from $7.83 per thousand cubic feet for the three months ended Dec. 31, 2006, consistent with the decrease in AECO gas prices from quarter to quarter.
Funds flow totalled $59.6-million for the quarter, or 55 cents per trust unit, as compared with $58.2-million, or 69 cents per trust unit, in the fourth quarter of 2006, as lower realized natural gas prices in the current quarter partially offset the increase in production volumes.
Capital spending totalled $20.3-million for the fourth quarter, including the drilling of 24 wells (19.3 net wells) primarily in east-central and Southern Alberta with a 95-per-cent net success rate.
Distributions for the fourth quarter of 2007 totalled 30 cents per trust unit, paid on Nov. 15, 2007, Dec. 17, 2007, and Jan. 15, 2008. PET's payout ratio, which refers to distributions measured as a percentage of funds flow, was 55.0 per cent for the quarter.
PET closed the sale of the Calgary office building that it owned and occupied in December, 2007, for net proceeds of $35-million after realtor fees, realizing a $22-million gain on disposition.
PET disposed of a minor royalty interest in the fourth quarter of 2007 for total proceeds of $8.1-million. In addition, several non-core dispositions were closed in January, 2008, and February, 2008, that will result in additional net proceeds of $6.4-million to the trust, with minimal impact to production volumes.
As a result of the building disposition and the trust's relatively low payout ratio, net bank debt at Dec. 31, 2007, was reduced to $336-million, compared with net bank debt of $382-million at Sept. 30, 2007.
PET finished planning and began the execution of a $48-million 2008 winter capital program targeting 15 million to 20 million cubic feet per day of natural gas production additions through drilling, completion, tie-in and facility projects, primarily in the trust's three core areas in northeast Alberta.
The trust's bank credit facility borrowing base redetermination was completed during the quarter and resulted in PET's borrowing base remaining unchanged at $400-million through May 26, 2008.
Annual 2007 results include:
In June, 2007, PET closed a significant acquisition of predominantly natural-gas-producing properties in east-central Alberta (the Birchwavy acquisition) for cash consideration of $391.8-million, plus $17.6-million in respect of working capital and acquisition costs of $3.8-million. The properties acquired (Birchwavy assets) are located in year-round access areas within and adjacent to the trust's core areas in Southern Alberta and are an operational, geographical and strategic fit with PET's existing shallow gas operations. The properties acquired averaged daily production of approximately 44.5 million cubic feet per day for the last six months of 2007, including 41.6 million cubic feet per day of natural gas production and 475 barrels per day of oil and natural gas liquids (NGLs) production. The Birchwavy acquisition was financed through the issuance of 20.45 million subscription receipts, which were converted into trust units on closing of the acquisition at a price of $12.25 each for gross proceeds of $250.5-million, as well as $75-million in total principal amount of 6.50-per-cent convertible extendible unsecured subordinated debentures.
PET also completed two other producing property acquisitions in the second quarter of 2007 in order to consolidate the trust's assets in northeast Alberta for a total cost of $59-million.
Daily average production increased 11 per cent to a record 170.2 million cubic feet per day in 2007 as a result of the Birchwavy acquisition as well as successful capital programs during the year. Average production from the Birchwavy assets and other acquisitions contributed 27.0 million cubic feet per day to production levels for 2007. Exploration and development capital spending of $110-million in 2007 worked to mitigate production declines on both the base and acquired assets. Further production additions from 2007 capital expenditures will continue to enhance the trust's base production as wells drilled in the trust's all-weather access areas in the fourth quarter of 2007 are completed, tied in and brought on stream in early 2008.
Proved reserves increased 66 per cent to 294.8 billion cubic feet and proved-and-probable reserves increased 95 per cent to 509.9 billion cubic feet at Dec. 31, 2007, as compared with year-end 2006. Excluding future development capital, PET realized finding, development and acquisition costs of $2.75 per thousand cubic feet for proved reserves and $1.59 per thousand cubic feet for proved-and-probable reserves in 2007. Including future development capital, finding, development and acquisition costs for 2007 totalled $3.21 per thousand cubic feet for proved reserves and $2.53 per thousand cubic feet for proved-and-probable reserves.
PET recorded funds flow of $239.1-million, or $2.44 per trust unit, for the year, compared with $236.7-million, or $2.82 per trust unit, for 2006, as higher production levels were partially offset by higher operating, interest, and general and administrative expenses. The decrease in funds flow per trust unit is a function of the higher number of trust units outstanding relating to the financing for the Birchwavy acquisition.
PET's average realized gas price was $7.44 per thousand cubic feet in 2007, down 1 per cent from $7.52 per thousand cubic feet in 2006. PET's natural gas price before financial hedging and physical forward sales decreased 3 per cent to $6.44 per thousand cubic feet in 2007 from $6.61 in 2006, in line with the decrease in AECO prices for the year. The increase of $1 per thousand cubic feet in the trust's realized natural gas price, as compared with PET's gas price before financial hedging and physical forward sales, can be attributed to fixed-price forward natural gas contracts entered into by the trust in order to provide distribution stability for PET's unitholders and to take advantage of periodic relative strength in the forward price curve for natural gas in 2007, despite weak spot prices in the second half of the year. As a result of price management activities, PET realized $62.5-million of additional revenue and funds flow in 2007.
Exploration and development capital spending totalled $109.9-million in 2007, comprising a $63-million winter capital program focused on activities in the trust's three core areas in northeast Alberta with the remaining capital expenditures directed primarily toward PET's expanding all-season-access asset base in east-central Alberta. In total, 137 wells were drilled (110.4 net), including 25 wells (23.9 net) on lands acquired through the Birchwavy acquisition. Land purchases totalling $8-million for 2007 added 203,000 net acres to the trust's land inventory.
FINANCIAL AND OPERATING HIGHLIGHTS
(in thousands of dollars, except per-unit and other amounts)
Three months ended
Dec. 31,
2007 2006
Financial
Revenue 123,747 104,166
Funds flow 59,622 58,166
Per trust unit 0.55 0.69
Cash flow provided by operating activities 38,224 56,693
Per trust unit 0.35 0.67
Net earnings (loss) (4,970) (68,254)
Per trust unit (0.05) (0.80)
Cash distributions 32,756 50,968
Per trust unit 0.30 0.60
Payout ratio (%) 55.0 87.6
Capital expenditures
Exploration and development 20,270 24,104
Acquisitions, net of dispositions (47,740) 2,536
Other 389 456
Net capital expenditures (27,081) 27,096
Operating
Production
Total (bcf) 17.5 13.3
Average daily (mmcf/d) 190.3 144.6
Gas over bitumen deemed production (mmcf/d) 20.0 19.8
Average daily (actual and deemed -- mmcf/d) 210.3 164.4
Average natural gas prices ($/mcf)
Before financial hedging and physical
forward sales 6.19 6.59
Including financial hedging and physical
forward sales 7.07 7.83
Reserves (bcf)
Company interest -- proved 294.8 177.1
Company interest -- proved and probable 509.9 261.5
Per trust unit (mcf/unit) 4.65 3.07
Estimated present value before tax ($, millions)
Proved 972.0 675.2
Proved and probable 1,481.0 942.5
Year ended Dec. 31,
2007 2006
Financial
Revenue 462,409 420,846
Funds flow 239,100 236,653
Per trust unit 2.44 2.82
Cash flow provided by operating activities 222,937 228,581
Per trust unit 2.27 2.72
Net earnings (loss) (32,859) (18,850)
Per trust unit (0.33) (0.22)
Cash distributions 145,829 221,789
Per trust unit 1.50 2.64
Payout ratio (%) 61.0 93.7
Capital expenditures
Exploration and development 117,958 138,259
Acquisitions, net of dispositions 404,168 79,760
Other 1,254 1,267
Net capital expenditures 523,380 219,286
Operating
Production
Total (bcf) 62.1 56.0
Average daily (mmcf/d) 170.2 153.4
Gas over bitumen deemed production (mmcf/d) 19.9 20.8
Average daily (actual and deemed -- mmcf/d) 190.1 174.2
Average natural gas prices ($/mcf)
Before financial hedging and physical
forward sales 6.44 6.61
Including financial hedging and physical
forward sales 7.44 7.52
Reserves (bcf)
Company interest -- proved 294.8 177.1
Company interest -- proved and probable 509.9 261.5
Per trust unit (mcf/unit) 4.65 3.07
Estimated present value before tax ($, millions)
Proved 972.0 675.2
Proved and probable 1,481.0 942.5
We seek Safe Harbor.
ZABRF .01 x .02 what a huge disappointment.... I thought Bedo and Jacob could do better than just let this sink into an abyss..... ouch
HNTM .80 x.81 moving nicely sold most on first move to the mid .70's but still own a good sized chunk. Looks at this point it is breaking out and moving to higher levels. Has had some announcement regarding adding additional directors with extensive mining experience, released some drilling results and we still have the upcoming tsx.v listing to look forward too.
http://biz.yahoo.com/e/080311/hntm.ob8-k.html
http://biz.yahoo.com/bw/080306/20080306005181.html?.v=1
http://biz.yahoo.com/iw/080219/0363571.html
HNTM .80 x.81 moving nicely sold most on first move to the mid .70's but still own a good sized chunk. Looks at this point it is breaking out and moving to higher levels. Has had some announcement regarding adding additional directors with extensive mining experience, released some drilling results and we still have the upcoming tsx.v listing to look forward too.
http://biz.yahoo.com/e/080311/hntm.ob8-k.html
http://biz.yahoo.com/bw/080306/20080306005181.html?.v=1
http://biz.yahoo.com/iw/080219/0363571.html
CWX.UN trading at lowly levels as there was a concern about distributions. Latest earning out and distribution is maintained and a special distribution was announced.Yeilding over 16% at this level...
CanWel earns $36.2-million in 2007
2008-03-10 08:04 MT - News Release
Mr. Tom Donaldson reports
CANWEL BUILDING MATERIALS INCOME FUND ANNOUNCES RECORD FISCAL 2007 FINANCIAL RESULTS AND SPECIAL DISTRIBUTION
CanWel Building Materials Income Fund has released its results for the three months and year ended Dec. 31, 2007. Fourth-quarter highlights include:
CanWel earns record fourth-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) of $7.1-million in fourth quarter 2007, up 39 per cent;
CanWel earns record EBITDA of $36.2-million for full year ended 2007, up 32 per cent;
CanWel to make one-time special distribution of five cents per unit.
For the three-month period ended Dec. 31, 2007, the fund reported revenues of $189-million compared with $192-million for the same period in 2006. Gross margin during the fourth quarter of 2007 increased to 12.8 per cent or $24.2-million, against 11.7 per cent or $22.4-million in 2006. Earnings before interest, taxes, depreciation and amortization for the quarter was $7.1-million, a record for the company's fourth quarter, and compares with $5.1-million for the fourth quarter of 2006, an increase of 39 per cent.
For the year ended Dec. 31, 2007, revenues totalled $862-million compared with $911-million in 2006. Gross margin for the year was $108-million against $97-million in the prior year. Fiscal 2007 EBITDA increased 32 per cent to a record $36.2-million against $27.5-million in 2006.
"We are very pleased with our gross margin expansion which has resulted in improved EBITDA and a decrease in our payout ratio," noted Tom Donaldson, president and chief executive officer of CanWel Building Materials Income Fund. "While the economic environment remains challenging for our business, we have made significant progress in strengthening our business in 2007."
"I am very proud that CanWel has achieved these record results in light of the ongoing and unprecedented retraction in commodity pricing in our business. We have focused on cost control, accretive acquisitions and serving our customers' needs and the results are evident. I am also pleased to announce that we will pay our unitholders a one-time special distribution of five cents per unit," stated Amar Doman, chairman of the fund. The record date for the one-time special distribution will be March 31, 2008, and will be payable on April 18, 2008, along with the company's ordinary March, 2008, distribution.
We seek Safe Harbor.
Yup got stung on this one... it's pretty deep down on my list of bagholds. Was hoping that there might have been a pump but it looks like it's going to be dump :(:(
BUK 1.49 starting to move higher on drilling speculation
BRIDGE RESOURCES (V-BUK) $1.34 +0.10
One of the more intriguing plays just developing in the North Sea over the next year or years is that of Bridge Resources. For those who have been following some of the more intriguing stories in the North Sea such as Oilexco (OIL), Ithaca Energy (IAE), Antrim Energy (AEN) or the like, this could be a story that should be on the top of your list.
There is one analyst report out that is probably must reading both for Bridge Resources and for that matter, the entire North Sea as the 40-page report gives you information in abundance.
Martin Pelletier is the author for Blackmont Capital and he writes, “Bridge’s primary focus at this time is to establish a reserve, production, and cash flow base from its first development project at its 100%-interest Durango play in the Southern North Sea. A US$30 million horizontal well is scheduled to be spudded by the end of February, with first production targeted by the end of the year at anticipated rates of 30 mmcf/d of natural gas and 1,000 bbls/d of condensate. Should this prove successful, Bridge plans to use Durango as the springboard to prove up the extensive resource potential of its remaining prospects on 20 blocks.”
Pelletier is a little more sedate in talking about the Piper prospect than some analysts, as some folks just get carried away with the potential of Piper’s 400-500 million barrel potential, but this is must-reading. He points out that Bridge over the next few years expects to be drilling three significant wells a year and once again, this is must reading.
If you would like a look-see at Blackmont and Pelletier’s work, just e-mail Debbie at debbie_lewis@canaccord.com.
SHZ 7.50 weeee....