英语翻译An oil and gas royalty trust which specializes in natura

英语翻译
An oil and gas royalty trust which specializes in natural gas that Guichon is selecting for the column:- Progress Energy Trust (PGXun/ TSX) This Calgary-based trust's main interests are in Alberta and B.C.Natural gas constitutes some 84% of its production."It has a strong management team,low operating costs and high-quality assets in the B.C.Foothills and in the Alberta Deep Basin," he says.Progress has 600,000 net acres of undeveloped land and thus "considerable exploration upside." There are a number of identified opportunities within its existing asset base,he says,which means Progress can replace reserves without making acquisitions.Mr.Guichon notes that the trust's distribution profile has been improved by its recently announced signing of new hedge contracts for its natural gas production.Its current distribution per unit per annum its $1.20 and its payout ratio is 66%.
A business trust Mr.Guichon is highlighting for the column:- BFI Canada Income Fund (BFCun/TSX) Toronto-based,this full-service waste-management firm provides nonhazardous solid waste collection and landfill disposal services in Canada and the United States."Its business is recession proof and it is producing higher internal growth rates than its industry peers." Mr.Guichon says.It is also a consolidator in this industry."It is good at acquiring and integrating businesses," he says.BFI recently bought Winter Bros.Waste Systems Inc.,which operates principally on Long Island,N.Y.In all,the trust has good profit margins and good growth potential,he says.The current distribution per annum per unit is $1.81 and the payout ratio is 70%.
Mr.Guichon has been paring back his holdings of real estate investment trusts.Specifically,he sold his holding in H&R Real Estate Investment Trust (HRun/TSX),which owns interests in a portfolio of office and retail properties."This trust has the contract to build EnCana Corp.'s new headquarters in downtown Calgary and this adds a substantial layer of risk to its business," Mr.Guichon says.