replyPoundmaker
Didn't actually buy in. I anticipated jumping in this morning after I saw the financials but I am not impressed by high revenues with no profits. I think it is quite likely that they will post a profit in the next quarter or two. I think their is still excess drilling capacity in the industry but demand will remain high in 2004. If the utilization rates continue to increase their should be absolutely no reason to drill below cost considering basic supply and demand.
Most of my growth this year has been on income trusts with good yield and increase in value. Consider adding Simmons SMN.un to your portfolio. They seem to have hit bottom and could be in a position to increase distributions next year. They have normalized earnings after 2 soft quarters. The last time they earned .40 in a qrtr they paid out $0.10/month. They are currently paying 8 cents. 10% dividend plus increase in share price is rewarding enough.
Venture100