Natural Resources >> Analyst Interviews >> May 9, 2005

INVESTING IN OIL & GAS ROYALTY TRUSTS: PATRICK BRYDEN – RBC CAPITAL MARKETS (CANADA)

PATRICK I. BRYDEN joined RBC Capital Markets in 2004 and is focused on coverage of the Canadian oil and gas trust sector. Prior to his position with RBC Capital Markets, he worked for Calgary-based FirstEnergy Capital Corp. since 1997, initially as a Research Associate and later as Research Analyst, Energy Income Trusts. He holds a BA (honors) from the University of Calgary and was awarded his CFA designation in 2001. Profile
TWST: Would you start by telling us what you cover in the royalty trust

space at RBC Capital Markets?

Mr. Bryden: Looking at some of the conversions and reorganizations in

the space, you find