2 analysts and top management from 13 firms examine royalty & income trusts in this 55 page report from The Wall Street Transcript.
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Investing in Royalty Trusts: Mark Bridges, CIBC World Markets
Outlook for Royalty Trusts: Gordon Tait, BMO Capital Markets
CEO Interviews (average 2,500 words): Top management from 13 firms examine the outlook for their firm and sector. Firms interviewed include: Morneau Sobeco Income Fund, Atlantic Power Corporation, Big Rock Brewery Income Trust, Cathedral Energy Services Income Trust, General Donlee Income Fund, Harvest Energy Trust, Medical Facilities Corporation, Newfield Exploration Company, Newport Partners Income Fund, Peyto Energy Trust, Pizza Pizza Royalty Income Fund, Supremex Income Fund, Trimac Income Fund.
Topics covered: The trust taxation announcement late in 2006 - Oil weighted companies vs. gas weighted companies - Trust structure - Redistributing free cash flow - Production declines - Cash yields - Sustainable models - Attractive commodity exposure - Value investors - Western Canada - Impending change in tax legislation - Weak gas market - Natural gas reserves - Balance sheets - A recovery in the gas market - Stability of distributions
Companies covered: Progress Energy Trust (PGX:TSX) and Vermilion Energy Trust (VET:TSX).