Natural Resources >> Analyst Interviews >> April 18, 2005

INVESTING IN OIL & GAS INCOME TRUSTS: ROGER SERIN – TD NEWCREST

ROGER SERIN joined TD Newcrest in January 2003 as an oil and gas analyst, covering oil and gas royalty trusts, Canadian exploration and production companies. Prior to that, he covered the same sectors as an equities analyst with other investment dealers. He recently expanded coverage into the Canadian oilfield services sector. He is a professional engineer who has more than 25 years of oil and gas industry experience with various large and small oil and gas companies. In addition, he was a partner in the predecessor to Gilbert Laustsen Jung Associates Ltd., one of Calgary's premier evaluation consulting firms. He graduated with a BSc (honors) in mechanical engineering from Queen's University in 1975. With a reservoir engineering background, he provides research analysis that leverages off his technical knowledge of the oil and gas sector. Profile
TWST: Roger, what's gone on in the royalty trusts space? It looks like

they've been very successful over the past couple of years.

Mr. Serin: I think what's gone on is the commodity price. We