Sandy McIntyreTaylor NGL LP FundTAY.UN.TOBUYAug 12, 2005

(A Top Pick July 4/07. Up 26%.) Acquired by Altagas (ALA.UN-T).

A thinly traded stock, so not one he was able to own. Fundamentals suggest it as a great long-term hold.

Natural gas processing and liquid extraction. Recently acquired some hydro assets in B.C. Very creative management. Paying down debt.

Have 2 extraction natural gas plants. Have 2 liquid natural gas pipelines. Well-run company. Long-term contracts. Very little commodity risk.

As a mid stream facility, they actually don't take a lot of risks on. A relatively steady business. Less dependent on the commodity price and the direct ownership in a well or a producing facility. Good risk/reward

Runs a natural gas processing plant. Derive their product from industry flow of natural gas in major pipelines. Extremely well managed. They're incentivized to make distributions per unit grow. Trades at a cash return of about 8.5%. Acquisition minded, so should see distributions grow.