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TWST: Could you give us a brief overview of NCE Resources Group and NCE Petrofund (AMEX:NCN)?

Mr. Driscoll: NCE Resources Group is basically the parent company, which was founded in 1984. Since that time, we have accumulated assets of about 1.2 billion. We were the first company to develop a limited partnership to buy and develop oil and gas assets. We did that in 1986. In 1988 we founded NCE Petrofund, which was only the second royalty trust in Canada to be financed as an initial public offering. Our gross revenue is around 300 million and we produce about 22,000 barrels of oil per day. We employ 170 people and our main office is in Calgary, but we also have an office in Toronto where we look after all the communications, investor relations and the legal aspects with regard to public financings. We have grown NCE Petrofund now to where it has about a 400-million market capitalization and an enterprise value of about 550 million. In 2000, we had two public financings. We raised 27 million in March and another 52 million in September, and again those issues were oversold. Every issue that we’ve ever done in NCE Petrofund has been oversold in the marketplace. Of course we have picked our spots as far as when we came out to market. Right now, in terms of size, NCE Petrofund is among the top six royalty trusts in the Canadian marketplace.

TWST: Where would you like to see NCE in three to five years?

Mr. Driscoll: Our objective right now is to bring NCE Petrofund up into a billion-dollar capitalization. That means we have to raise further capital, and make some significant acquisitions as we have done in 2000. I believe that within about three years, we can move from 400 million in capitalization to 1 billion in capitalization. We want to maintain the returns that we have been able to deliver to our unitholders. You’re going to get volatility in the markets and those rates of return will fluctuate. Returns are very commodity price sensitive. I believe that over the next decade we’re going to have much more stable markets in oil and natural gas, and prices will continue to be on the strong side.

TWST: What are you spending your time on in the company? Where are you focusing at this point?

Mr. Driscoll: We are focusing on buying producing oil and gas assets in the Western Canadian Sedimentary Basin. Most of our assets are in Alberta. Central and southern Alberta is really where we look for our core areas but we have properties in British Columbia, Saskatchewan and Manitoba as well. We’re very, very active in acquisitions. I’m focusing on expanding the company and getting more investment dealers to initiate research coverage of us. We’re going to be very active in the United States in 2001, putting on presentations throughout the United States to investment analysts, to corporate finance departments as well as to investment professionals. That is job number one for us, for me, for 2001.