| Business Summary | | NCE
Petrofund
(the
Trust)
is
an
open-ended
investment
trust
that
acquires
and
manages
producing
oil
and
gas
properties
in
Western
Canada.
The
Trust
holds
royalties
derived
from
the
interests
in
petroleum
and
natural
gas
rights
held
by
its
wholly
owned
subsidiary,
NCEP
Petrofund
Corp.
(NCEP),
and
related
assets.
The
Trust's
objective
is
to
purchase
royalties
issued
by
NCEP,
securities
of
resource
issuers
and
resource
properties
and
other
related
assets.
As
of
December
31,
2000,
NCEP's
principal
properties
were
located
in
Alberta,
British
Columbia,
Manitoba
and
Saskatchewan,
Canada.
NCEP
primarily
produces
light
oil,
natural
gas
and
natural
gas
liquids.
Its
asset
base
includes
Established
Reserves
(proved
reserves
and
50%
risked
probable
reserves),
before
royalties,
of
29,573
mbbls
(thousand
of
barrels)
of
oil,
189,204
mmcf
(millions
of
cubic
feet)
of
natural
gas
and
3,754
mbbls
of
natural
gas
liquids,
and
an
inventory
of
undeveloped
lands
totaling
278,
694
gross
(115,185
net)
acres. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NCE
Petrofund
is
a
closed-end
investment
trust
that
acquires
and
manages
producing
oil
and
gas
properties
and
related
assets
in
Western
Canada.
For
the
three
months
ended
3/31/01,
revenues
totaled
C$54.4
million,
up
from
C$26.1
million.
Net
income
totaled
C$26.3
million,
up
from
C$8.8
million.
Revenues
reflect
an
increase
in
crude
oil,
natural
gas,
and
natural
gas
liquid
sales
due
to
higher
production
and
prices.
Net
income
also
reflects
higher
margins. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
60,007;
after
tax
earnings
were
16,380. (Preliminary; reported in thousands of Canadian Dollars.) | More
from
Market Guide: Significant
Developments |
| Officers | | John
F. Driscoll,
Chmn./CEO/Pres. Jeffery
E. Errico,
Exec. VP/COO Glen
Fischer,
VP-Oper. Vince
P. Moyer,
VP-Fin. John
Vooglaid,
Secy./Treas. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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