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Claim Your “Gas Rebate” Check — Oxford Club

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The ad we’ll look at today starts, as they always do, with an incredible promise:

“How to Claim Your First ‘Gas Rebate’ Check on January 15

“Some smart Americans have begun collecting checks from a little-known government-guaranteed gas rebate program. And they’ll continue receiving payments until 2011. Now you can join them….

“Simply put your name on the list below to claim your ‘Gas Rebate’ checks ($400-plus every month!) starting with the next payout…

“New York Times reports that Americans “are making significant amounts of money” from this gas rebate program”

Sounds interesting, eh? Clearly there’s some obfuscation afoot, but we do love to see all the details. How did this kind of “Gas Rebate” come into being?

You can sign up for your membership in the Oxford Club if you want to hear their version … but if you’ve got a few moments, I’ll dig in and see if I can explain it for you and chase down these clues (for free, naturally).

The letter is signed by Louis Basenese, who we see cropping up quite often as an Oxford Club analyst, and he spreads it on nice and thick …

“As a former analyst for a Wall Street bank with $749 billion in assets under management, I’ve seen my fair share of “get rich quick” schemes.

“And I must admit, I was skeptical when I heard about this gas rebate program. But in the five months I spent researching this opportunity, I discovered that it is very real… and can be very profitable.
This Gas Rebate Program dates back to 1985 when gas prices also spiked….

“So they passed legislation that required certain energy companies to distribute rebate checks to everyday people.

“But over the years as gas prices retreated, people forgot about the program.

“Even last year, when prices reached all-time highs, only a handful of Americans were turned on to this opportunity. As Marketwatch recently revealed, ‘Few people know about [the Gas Rebate Program]… but this is a great income generator.’”

So what is this “gas rebate check” that Louis says you can “sign up” for? Well, it’s an investment, of course — not a government program, really, but an investment vehicle that was created by a government decision.

Oh, and it wasn’t even our government — it was Canada’s. What the Oxford Club folks are teasing here are Canadian Income Trusts (Canadian Royalty Trusts, CanRoys, whatever — there are several terms that are used to refer to these … not, until now, “Gas Rebate Checks”, however).

These trusts are fairly similar to a Real Estate Investment Trust in terms of taxation — these companies don’t pay corporate income tax, and in return they pass through the vast majority of their income to unitholders, who are then obligated to pay tax on that income. Traditionally most of these trusts in Canada have been in the oil and gas production business, and they tend to pay their dividends on a monthly schedule, which has been very appealing for income investors for many years — high dividends, rising nicely thanks to the steady climb of oil and natural gas prices in recent years (until this past Summer, at least), and monthly payouts.

There are several good US-based oil and gas trusts as well, but they are really closed-end trusts that own royalties on specific oil or gas production facilities or fields, and they are essentially owners of depleting assets that they can’t replenish — trusts like San Juan Basin or BP Prudhoe Bay or the several others exist solely to deplete an oil field (or multiple fields), and when production at that field stops they essentially go out of business. Canadian trusts, however, had the ability to grow — they were allowed to buy and sell assets and interests in new discoveries or developments, so the ones that reinvested well and built their asset base were able to grow dramatically over the years and continually replenish their base of reserves. I say “had” because although they still can grow and replenish reserves, that 2011 bit in the introduction is real — these investments will probably change dramatically in almost exactly two years … more on that in a moment.

The “came into being” in 1985 part refers to the court decision in Canada that allowed for the income trust structure to be used — specifically, the fund that came out of that case as an income trust remains probably one of the couple most significant and steadiest Canadian energy trusts, Enerplus Resources Fund (ERF).

Just as an aside, I’d argue that it now seems a little silly to say that prices “spiked” in 1985, that year was part of a long and gradual downtrend in oil prices, and though the price of oil did briefly jump from $24 or so to $30 they spent much of the year in the high $20s, a bit lower than the previous couple years. But we’ll let it pass, there was a wee spike that Spring.

The 2011 date refers to the change of Canadian tax law which will essentially do away with royalty trusts as they’re currently structured (some may hold on for a while, depending on their strategies for handling other tax credits, and many of them may remain high-dividend corporations, though the ridiculously high yields of the past few years seem very unlikely to persist for most trusts). Many folks have called the initial proposal for this new tax law change the “Halloween Surprise,” happening as it did on October 31, 2006.

And there remains a lot of debate about exactly what the trusts will do, how they will change or cope, and what will happen to investors who own the shares. A few trusts have since been acquired, since the depressed prices made them look appealing for private buyers — but falling oil and natural gas prices made that a bit less appealing in the second half of this year, so in many ways Canadian trusts seem to be in a holding pattern as we await more clarity about the changes that 2011 will bring.

It may well be that many of these trusts will continue to exist, using tax credits or whatever else to remain yield-focused, tax-paying corporations going forward, but it would probably be a mistake to assume that you can buy them now, get two years of high dividends (assuming oil prices don’t continue falling), and then end up with something that has a predictable value in January of 2011. It’s very hard to know what might happen to these companies in two years, and most of them are still being fairly mum about their specific plans for dealing with the new tax regime. Plus, we have to consider that once the income trust tax advantages get erased, there’s still some likelihood that the firms will continue to get some tax advantages — every country likes to protect their local energy producers, and politicians don’t hate these companies nearly as much when oil is at $40 a barrel as they might have at $150.

And the article from the NY Times? That quote is accurate, it was from an S&P credit analyst who did note that people (not just Americans” were making significant amounts of money. But the article that quote appeared was published in 2004, when oil prices were climbing and it was an almost unimaginably great time to invest in Canadian trusts — so great, in fact, that that was really when the government started to notice the huge amount of money being distributed from trusts to foreign investors that was effectively (in many cases) never really being taxed. And a couple years later, the government felt the need to do something, and the tax law changed and the trust prices collapsed overnight.

Lately, with stimulus being the word of the day from governments everywhere, and with the political situation in Canada in severe flux (they’ll probably either have a weak minority government or a new election soon, and the partisanship posturing is now rivaling our own here South of the border), I keep hearing from folks who believe that the taxation of trusts will become a political football again, perhaps leading to a “stimulative” reversion to the old tax-free status or some other kind of compromise. I have no idea whether this is just blind hope, or if there’s any possibility of real change to the law before 2011 (I know there are a good number of Canadian readers out there, so if you’ve got a perspective on this, please feel free to share with a comment below).

If you’re curious about the whole history of these funds/trusts, and about the debate about the tax changes, the Wikipedia article about this is pretty good, just FYI.

But wait, we’re not done yet!

So we know that the Oxford Club folks have been touting Canadian Income Trusts, and specifically some oil and gas-related trusts. We also know that there are certainly some of these that are better than others — so which ones are specifically teased for us here? We’ve got three that are teased … can the Gumshoe track down the clues?

Let’s give it a look-see, no?

There is really one of these trusts that is the focus of the ad, and that appears to be the main or favored investment idea, so we’ll start there:

“There’s one under-the-radar company that is legally obligated to siphon off the majority of its $640 million cash flow and pass it on to everyday people.

“Last year, it distributed $610 million to just a few thousand check recipients.”

That’s probably enough to narrow it down for us, but they do provide a few other clues:

This is an integrated firm, to a much greater degree than most trusts, with refining and distribution assets (including some gas stations) as well as drilling (they produced 20 million barrels of oil last year)

“… this company is sitting on $351 BILLION DOLLARS worth of oil at current prices… right here in North America! There’s nothing to disrupt the flow of oil or profits… or rebate checks.”

This one is Harvest Energy (HTE in both NY and Toronto)

Harvest Energy is indeed one of the larger trusts, and it did distribute $610 million to unitholders last year. It has also significantly outperformed the average income trust over the last five years. They had a reserve life index of just over ten years as of the last annual report (for 2007), though I don’t know if current oil prices change those underlying assumptions at all, or if they have acquired significant new reserves this year. Those reserve life numbers are a key consideration for any trust, they essentially estimate the number of years of oil and gas production that the company can expect if they don’t replenish their reserves or change their production levels — some people think of this as a shorthand for the number of years you might expect to receive distributions if the company stopped investing in new assets.

They have pre-announced their dividends through March, so the expectation is that unitholders will receive thirty cents (Canadian) per share on the 15th of January, 16th of February, and 17th of March. After that, who knows — if they keep up that annualized dividend rate, which is certainly not guaranteed, you’d be looking at an annual yield of about 35% based on today’s share price of US$8.36 and the current exchange rate.

And yes, the fact that the current yield is 35% means that most investors assume that the falling oil and gas price, and the impending tax law change in a couple years, means that the yield will fall — either because the company will cut the dividend, or because the share price will drop.

I know there are a lot of folks out there in Gumshoedom who have a lot of experience with CanRoys, and probably several who hold this particular stock … I’ll let you hash out amongst yourselves what’s going to happen in 2011, and whether or when you think the dividend will drop, and by how much. If you like CanRoys, it’s certainly reasonable to put this one on your short list.

Now, a quick look at the other two that were teased …

More from Basenese:

“There are still two more opportunities… similar companies raking in fuel profits and being forced by the government to funnel millions back to ordinary people like you and me.

“Together, these three companies make up what my colleagues and I call the ‘Gas Rebate Program.’

“According to Forbes, these opportunities offer ‘fat payouts’ that ‘ease your pain at the pump.’”

“But you must get in before the deadline to qualify for your first check on January 15th.”

(just FYI, if you want the HTE dividend for January, the “deadline,” which the company would call the “ex distribution date” is December 29, meaning you have to own shares by December 28 to get the next divideend — so you’ve got a couple days to think about whether or not you want that 30 cents on January 15).

Oh, and just by the way — they tease this as a “$3 billion company,” which means these ads were written probably back in September, the shares have fallen by much more than 50% since then, the market cap is now about half that.

“Gas Rebate Opportunity #2:

“This opportunity provides you with direct access to a $1 billion gas revenue stream.

“Per government mandate, this company returns roughly 70 cents of every dollar it earns to check recipients. And although the government has decided to end the Gas Rebate Program in 2011, investors in this particular company have discovered a secret “loophole” that means they could continue receiving hefty checks until 2014.

“This is a stable, long-term income play. Since it started distributing checks, this company has never reduced payouts. It has only increased them.”

This one is a bit more of a guess for the mighty Thinkolator, but from those clues I’d have to tell you that this is Penn West Energy (PWE). I don’t know much about this one, but I can tell you that they do think they have announced in the past that they think they have enough Net Operating Loss credits to keep them shielded from the new tax law until 2014, and they have never cut their dividend … though I wouldn’t bet much on their ability to keep that going.

You can dig into this one if you like, and let us know if you’ve got any strong feelings about Penn West — the market has spoken, and they trade at an annualized yield of about 30%, so that’s what Mr. Market thinks about the safety and security of that dividend going forward. The market can be wrong, of course, and if you’ve got a good crystal ball for oil prices and political decisions you may well do great with any of these.

And the last one?

“Gas Rebate Opportunity #3:

“This energy company was the first of its kind to send out gas rebate checks 22 years ago. Back then it was worth barely $9 million dollars. Today its value exceeds $7 billion.

“In 2007, the company sent out over $646 million in checks. But this year, it’s on track to deliver even more. This company just announced that it will increase distributions by 12%.

“By depositing a bit of cash with this company, you can collect an easy $117 each month… that’s more than $1,404 each year.”

This is Enerplus Resources Fund (ERF), which was indeed the first of its kind after that court decision in 1985. And they did distribute $646 million in 2007, though pay close attention if you research this one: They are among the more conservative trusts when it comes to their balance sheet, and they have scaled back development spending for next year thanks to the lower oil and gas pricing, but they have already announced that they’re shrinking their dividend. The distribution for January will be 25 cents (Canadian) — current price is about US$18, so the fact that they’re larger and have a strong and stable reputation means that their annualized yield is “only” up to 20%.

To be fair, they did increase distributions in September — but they cut them again in November, and, as noted, they will do so again next month.

So what does one do with an investment that should have a high yield for two years, then a very uncertain several years of adjusting, and perhaps or perhaps not a future as a high dividend company in the years then to come?

And while most of these large trusts have established fields that can make a nice profit with oil and gas at these prices, they also will almost all probably have to cut their dividends and their capital spending, which some will do better than others — and if you think any of those companies know whether oil will be at $25 or $75 in six months, you’re more confident than I am.

So now it’s your turn — throw on that thinking cap, and let us know if you’re ready to bring those Canadian trusts into your portfolio. As with so many things that look cheap and compelling based on the numbers, there’s a reason for the prices to be so low … whether it’s a good reason, well, that’s your call.

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63 Responses to Claim Your “Gas Rebate” Check — Oxford Club

  1. FYI- for those thinking of investing in Canadian Royalty Trusts, if you put it into a retirement plan, you can’t deduct the foreign taxes paid, which I believe is 15%.

    Most of the tar sands trusts need to see the price of crude go back up ( between $65-90 per barrel depending on the particular trust) to be economically feasible/viable.

    I own AAV and haven’t sold it through its 40+% decline, but I know it is priced so low for good reason.

  2. Conrad likes EPD.
    Blue Chip rates BTE as “A”, EPD, PWE, and PGH as “B”,, most of the others as “C”.
    Not CanRoyals, but similiar sector and returns, are KMP and TGP that Bullmarket likes. Bullmarket also gives PWE a “B”.
    Held most of these over 5 years and like the energy, foreign, and dividend aspect. While fall oil prices will reduce dividends, I think much of the 2011 restructure is priced in and all the above are working to sustain their high dividend structures. (NOte foreign tax withheld on these)
    REP

  3. I own a few different ones of these trusts including one of those mentioned (Penn West) and so far I like the cash distributions they are sending my way. Since I am Canadian there is no issue with tax witholding.

    I agree with the above poster that much of the change in 2012 is priced in…one would hope with the way prices have gone. Also, with yields around 30% on some of these it is apparent that cuts to distributions are also being priced in.

    My strategy with these…if you can call it that…is to buy trusts with increasing production (for the oil and gas ones anyway). On the other ones (many of these are not in oil/gas) I’m looking at the after tax implications beyond 2011 and possibilities for dividend yields after conversion. For most if the dividend yield is 60-70% of the former distribution yield it is a wash for the investor – if the investor is paying Canadian tax and gets the break on dividend income versus cash distributions (which have no tax break – straight income). So for a US investor I suspect this is not good news as I understand that they would not qualify for a US dividend tax treatment (which I presume gives some sort of break relative to straight income). That I am not sure of however…someone post otherwise if you know more about it.

  4. have you heard about John Langsing’s option service declaring 596% profit since May?!!
    all responses are appreciated.

  5. Thanks so much again Travis for taking the time to do the detective work and very timely post too. I was about to sign up today (this didn’t cost too much compared to others), saved me the time and having to go get refund. I did figure it was Canroy, with the energy and 2011 hints and already own HTE, PWE, and ERF plus KMP, MMP, APL, TGP, MWE and KYE (etf) Oil can’t stay too low for long as demand will increase, especially in emerging countries like China. Besides higher oil prices is better in long run to stimulate North American production and especially alternative energy. Happy Holidays!

  6. I have enjoyed the terrific returns of many Canadian Energy Trusts. Several years ago we could apply, as US citizens for a tax rebate from the Canadian government. Similar to tax rebates offered at Canadian entry points.Proof of purchase was all that was required. Applying and recieving tax rebates on the 15% Canadian taxes were two different matters. After many months and efforts of correspondence, plus phone calls, I admitted defeat. Now as to the new situation in Canadian Trusts. At present we are receiving dividends on earnings and return of capitol,part of which we can report to the IRS as non taxable income. You have to specify what dividend is from profits and which are return of capitol. Your accountants can help you, but remember that at sales time, the return of capitol portion affects your profit or loss figures.Two more ponts. There is the possibility that new elections will bring in an administration that will rescind the tax laws pior to 2011. The second point is that Canadas economy is faultering as is ours. The money people there will do whatever they can to maintain the present staus in order to keep billions of investment dollars from returning to the US. Big money usually has considerable influence on government policy, especially during weakening economic circumstances.

  7. Note, that while I don’t know of a way to get a refund on tax from Canada, they and the US have the common mutual tax credit system where we (US) can claim a tax credit for all such foreign taxes paid.

  8. Present tax law in the US for taxable accounts with the 15% tax on dividends combined with the 15% Canadian Foreign tax and the tax credit on the Form 1040 ends up being a wash. US investors end up sending the 15% to Canada instead of to the Beltway. That might not work quite so well for investors with serious money in the game, but for us little guys it is even up.

  9. Sorry, forgot something. KCI has a lot to say on a regular basis about the Canadian Trusts. In their teasers for “Canadian Edge” and in their free E-mail letter, “Maple Leaf Memo,” they repeatedly say that the tax law changes will have very little effect on many of the Trusts. Mainly, there will be no new trusts created. They discuss at length about some trusts converting back and some folding. The good ones will probably endure and, as ‘peak oil’ emerges in the larger realities, will prosper. I hope so for the benefit of my portfolio.

  10. Odd… None of the mentioned Canadian Income Trusts are currently part of the Oxford Club’s various portfolio’s. PWE was held up until October when it hit the stop loss.

    Is this an old ad?

  11. I like Both PWE, and HTE…
    As importantly to me is Canada as a
    desirable investment area…
    The World Bank, lists Canada as the safest financial country…
    It also has the prime two requisits for economic safety….
    A large natural resource base,comenserate with a relatively small population(Compare that with Japan having “no” natural resources and a elatively “dense”, and elderly, population…I don’t invest there).
    In October, Canada had it’s worst
    financial month since 1950 (CND $0.71 vs. $USD); And the worst commodities month since 1972…
    Since then the CND is up to $0.81 vs. the $USD.
    The political front concerns me.
    You Canadians might share your take on the investment quality of Canada, all things considered….

  12. As long as they pay out most of their income, the O&G trusts don’t have to write off expenses to avoid paying tax. This means that the ones with high payout ratios have significant “tax pools” stored up. For example TSE:TUI.UN has over four times their market cap in tax pools. This means they won’t have to pay any tax for many many years after they switch to a corporation. But the dividend tax credit will shield half their dividend from taxation (for Canadians anyway). Not bad. That is, if you don’t mind owning a poorly run, debt laden, high payout producer. On the other hand, TSE:ZAR.UN has no “tax pools” because of their low payout ratio (they’ve been paying taxes for a while). But then, they have almost no debt (unheard of in the canroy business). From an American perspective, their dividend will go down by 35% as a corporation. My point is, after 2011, the poorly run canroys will look like the better choice. But are they really?

  13. Good work finding this, Gumshoe! I received the Oxford ad 8 Jan 09, where the payout date has been bumped to 17 Feb, so they’re still pumping it.

  14. As an investment advisor, I am familiar with the oil royalty trusts. The Canadian trusts have been interesting plays. There are foreign taxes withheld on the earnings that can be recouped on U.S. tax forms. A better play is probably the U.S. royalty trusts. The U.S. trusts not only have monthly distributions, but also include depletion allowances that make most – if not all – of the income tax free. This is, of course, only if you hold the trusts in taxable accounts. Be prepared to file taxes later, though, since most distribute their K-1 statements in March.

    The Canadian trusts are better for IRA accounts, though you do give up some of the distribution in the form of the Canadian tax withheld that cannot be reclaimed.

  15. I received a coupon for $3oo in gas I am beginning to think it is a fraud. I was told to go to Claimyour gas.com and this is where i WAS SENT.

  16. I called “THE OXFORD CLUB” and
    “FORBES” about this and got the run around! I was unable to talk with anyone in
    a position of authority. So – if it seems too good to be true………

  17. I received this slaes brochure. After googling I found your analysis which I found to be of immense value. Thanks Gumshoe for the research.

  18. Is gas rebate check a scam or not?
    Or do canadian trusts pay this kind of dividend? If so Is it worth while to add some of these to my portfolio or am I gonna get taxed to death on these trusts if in fact they do pay out!

  19. Here we are in July 2009 and I’m getting another “Gas Rebate” push from the Oxford Club. My question is: Is it too late to buy Canadian O&G trusts and is it worth it? I’ve read recent comments but being a real newbie when it comes to investments…I’m walking blind here. Appreciate any and all advice.

  20. I received a brochure in the mail yesterday, July 31, 2009 telling me how to claim my first “Gas Rebate” Check on September 15. I can join The Oxford Club for only $ 49.00.
    I am a pastor and not a big investor. Is there any truth to really getting a gas refund or is this just a big come on to increase membership?
    I do not have $ 49 to throw away.
    Thanks to anybody that will reply.
    God bless.
    Arlie Lammers

  21. dear rev.arlie lammers,i got the same brochure in the mail today,am too new to investing,had my check made out for,but will now gladly tear it up.i suggest you do the same after reading the above comments and intense research and time spent on investigating this subject(investment). thanks to the guys at gumshoe. i have an advisor with my other investments and you know the old saying,if it sounds too good to be true,then it probably is.

  22. Sooo glad to find this website — good, clear info — straightforward and to the point. Like a few other novices, I was about to go the $79 Oxford Club route. Was disappointed to find out that they seem to be misrepresenting the real deal, but so, so glad that I didn’t send them my money. Brad, hope you don’t mind that I copied down your info intended for Pastor Lammers.

  23. Their brochure is filled with “misleading inferences” and using Forbes as a source to establish credibillity is really bad. Is this fraud by mail and if so what is the Post Office doing about it. At the very least, I would expect Forbes to come down hard on the Oxfords Club for using them in their “advertising”

  24. I’ve been in Canroys for over 10 yrs. At one time they were a terrific investment. Over the last eight months this investment has fallen by 80%, and nearly the same on dividends. As a long time investor with these, I have received my initial back times two. As such I will ride out the 2011 thing. Plus I like my Canadian brothers to the north. hehe.
    I would not advise getting into these now.
    I have also had a relationship with that rascal Bill Bonner at the Oxford Club, Rude Awakening and Money Morning. I read them daily for comedic entertainment. Rather like Mad Magazine of the 60′s. A few gems, but rarely, and a quick Inet search can disclose the companies.
    This site works hard and is reliable. Use it as a fall back before sending Mr Bonner any funds to pay for his castle in France.
    I hope my experience helps you.

  25. canadian energy trusts are as good an investment as the big boys calling the shots will allow….stop being so greedy and use up what time is left.and dont worry about tax rates on these or any other investments.. be happy you get to keep some profits…

  26. Thanks GumShoe. Great Information. Oxford does have some excellent marketing. I just received a 20+ page brochure in the mail Oct 3rd, 2009 from these guys. Read the entire thing and provoked me to do a search. Great Service you have here — Gum Shoe is definitely going on my favorites for future reference.

  27. I must say that I really appreciate the HONEST appraisal and explanation of these so-called Gas-rebate Trusts by Gumshoe. I don’t understand why some would call it a scam, or why some are so quick to claim that anything highly profitable ‘sounds too good, it must be..’ etc. I’ve heard that same claim about some health treatments that are highly effective on even terminal conditions. Apparently, many people are foolish to believe that if it’s not on the evening news, it must not be true. Gumshoe has given good info on these ‘Gas Rebates’ and there are readers who have actually bought and profited from them, even if the profits may drop soon. A scam? Sounds like a typical investment to me! Go figure.

  28. I heard that if the gov had BAILED OUT each and every tax paying American with the trillion dollars it bailed out the banks,wall street, the car manufacturers,etc that each one would have received several thousands of dollars. Does anyone knoe how much that would have been? Wouldn’t this have worked much better in boosting our economy since people could have caught up their motgages, or even paid their homes off. Could have bought a new vehicle,caught up the electric bill so the lights would be left on, how about put extra food in the pantry or food period? Maybe even take a little vacation or at least go to a movie. Seems like this would have been a better way to bail out banks, car manufacuers, and boosted a lot of other down and out areas ( I just named a fraction). A little boost in the economy MIGHT have have saved some their JOBS!!! Reckon why no one thought of this? Doesn’t take a genius, but then again no one asked us if we wanted the help or just to give it away to the ones who got us in this mess in the first place. Why didn’t we get to vote on it?

  29. This entire article is a bunch of bullshit, and I hope that none of you believe one single word of it. I have never read such a scamming bunch of crap as what is in this piece of garbage of an article. Now, if you want to invest wisely, invest with me and I will show you how to really lose your money, guaranteed!

  30. I just sent my cheque for $99.00 for my Gas Rebate Cheque and Membership in the amil today.

    Please do not tell me this is anothewr scam
    Please reply A.S.A.P.

    Thank You

    Ruth Walker

    P.S. I cannot afford to throw money away to anyone or anything.

  31. It is certainly a couple months old, though it’s still circulating heavily. It’s possible that it’s older than that and is being recycled further, but I think the oldest copy of it that I have is from October. The most recent copy came rolling in just a few days ago.

  32. I do…ideally I would put these in my RRSP and actual dividend paying or capital gainers in my non-registered investments.

    However life has made things a bit cloudier…and I have a mix on both sides at the moment.

  33. Excellent point — it really pays to dig into these, listen to their conference calls, and try to figure out what their options are (most of them are still being a bit coy about what they might do).

  34. I personally appreciate this information. When one reads what Louis B. says it sounds real good, but like most things that look good we cannot take them at face value.
    Thank you for your willingness to expose the whole truth, and also for the work you put into it.

  35. I just received this same circular (I’m in Ottawa) yesterday. Now they are pushing April 15th. Milking it for all it’s worth. ;)

    Thanks for the enlightenment StockGumshoe. It’s much appreciated.

  36. I received the circular Feb 19, 2009, pushing March 15, 2009. I felt it was Canadian Royalty Trust as well as I own ERF, PWE & HTE for 2 years and being a retired landman love the oil & gas business and will continue to hold on and even nibble on these stocks and US Royalty Trust as well. Glad I found your sight. Keep up te good work.

  37. I just received the Oxford Club brochure offering a gas rebate program with details if I subscribe. Is this a legitimate program by U.S. Govt or a scam ?

  38. Tax Treaty. I am a Cdn citizen, US permanent resident. Most of my income is Cdn. I have a 15% witholding in Canada which becomes a tax credit against US tax due. In the US you must declare world income, and pay tax on that amount. Therefore, the tax that Canada witholds is a credit against whatever I owe the US.

  39. Dear Pastor Lammers
    Thank you for your inquiry in August 2009 regarding “Gas Rebate” I received the Oxford Club offer today. With tithes and offerings suffering due to the poor economic climate (Detroit, MI area) I too, am looking for other ‘real’ ways to bring income into our small church. The Oxford Club offer sounded good; but before moving forward I decided to check out stockgumshoe; I am so happy I did. Lots of good info; and the fact that you, like myself, a pastor, don’t have any amount of money to throw into a black hole. Brad Moser’s response to you was very timely. Have you found another venture you can share with another humble servant?
    Please email me at: Standifer2@ATT.net.
    Thank you,
    Pastor Renaye

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