A very smart restructuring and was the absolutely right thing to do. Good for shareholders short-term and long-term. Very modest capital appreciation four people who were looking for steady income. There won't be substantial growth.

Well run company. Recently completed a merger that was a very smart move. Sold off primarily because it is an energy services group. Reaction has been far beyond the actual deterioration of their business. A great holding.

An odd one in the Canadian business trust as it is a set of small medical facilities in the US. Represents stable distributions. Extremely well run company. US$ exposure.

Can't see any more distribution cuts. Great management team. A good way to play rebounding gas. Good level.

Despite having a payout ratio in excess of 100%, they have been quite resilient in not cutting distributions. Now that they have their acquisition of the way, he would expect they should do a cut. This is his least favourite oil/gas trust. Has serious issues.

Not near the top of his list in terms of oil/gas trusts.

Has dropped off with all the oil/gas trusts. Represents good value here.