Opinions
Dean Orrico
Acclaim Energy Trust
AE.UN-T
BUY
Jul 29, 2005
Likes the company. Over the course of 4 or 5 years it made about 5 acquisitions. Have beefed up their technical expertise which will look to exploit and integrate those acquisitions. Has a lower reserve life index than he would like to see. Good value.
$17.190
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Acclaim Energy (AE.UN-T) and Starpoint (SPN.UN-T) are merging. This will make it close to the 4th or 5th largest royalty trust. They will be getting a NYSE listing so there will be more demand from the US. There might be some short term weakness as many managers will end up owning too much and will have to reduce the weighting in their portfolios.
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BUY
There is a friendly merger with Starpoint Energy (SPN.UN-T). Likes Royalty Trusts. The only risk factor is that there are two large energy trusts making one of the largest Royalty trusts. There will be a lot of integration risks. It will be listed on the New York stock exchange giving access to US investors.
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