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1998 Performance

1998 Performance Review

Financial Highlights ($CDN - 000's)
Revenue 67,124
Per Unit 2.62
Per boe n/a
Cash flow 30,040
Per unit 1.17
Per boe n/a
Net Income (14,093)
Per unit (0.55)
Net Debt Outstanding 69,683
Market Capitalization 157,464
Enterprise Value 277,148
Cash Distributions 30,724
Per unit 1.20
Cash withheld (684)
Payout Ratio 102%
Total Return (Inception) (14.72%)
Operating Highlights  
Production
Crude Oil (bbl/d) 4,439
Natural gas liquids(bbl/d) 2,018
% split 51%
Natural gas (mcf/d) 37,700
% split 49%
Total production (boe/d) 12,737
Average Prices ($CDN)
Crude oil ($bbl) 18.99
Natural gas ($mcf) 1.93
Natural gas liquids ($bbl) 13.17
Oil equivalent ($boe) 17.99
Netback ($boe)
Commodity & other revenue 14.43
Royalties (2.06)
Operating Costs (4.04)
Netback 8.33
Wells Drilled  
Oil Wells n/a
Natural Gas Wells n/a
Dry Holes n/a
Total n/a
% success n/a
Trust Unit Highlights (thousands)
Units outstanding 25,604
Exchangeable shares n/a
Total outstanding 25,604
Weighted average units 25,604
Trust unit trading stats ($CDN)
High 11.40
Low 6.10
Close 6.15
Average daily volume 32,000
Reserves Highlights
Based on Company Interest
Proved Reserves  
Crude oil & NGL's (mbbl) 29,309
Natural gas (bcf) 103.6
Total oil equivalent (mboe) 46,576
Proved + Probable Reserves
Crude oil & NGL's (mbbl) 35,034
% split 63%
Natural gas (bcf) 121.9
& split 37%
Total oil equivalent (mboe) 55,351
Reserve Life Index 11.9
Expenditures ($CDN - 000's)
Capital expenditures 10,596
Net acquisitions 60
Total expenditures 10,655
FD&A Costs (per boe) 3.62 
G&A expenses 3,246