Gavin Graham Oil Sands Split Trust OST.UN-T BUY Jun 12, 2006

Direct play on the oil sands. A split trust. There are shares that receive the income from investments in oil sands and there are shares that receive the couple growth. Oil sands plays have not worked out poorly.

Gavin Graham

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There are 2 sides to the Canadian Oil Sands. One is the capital side and one is the preferred side. The preferred side pays a fixed income. This one has a larger leverage to the oil sands, so there will be more fluctuation.

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Leverage on oil sands, trading at a $6 discount. His company is the administrator of this fund. They are still buying.

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Gavin Graham Oil Sands Split Trust OST.UN-T BUY Jun 12, 2006

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