ERF’s share price has dropped mainly because of low natural gas and oil prices.  However I really like the monthly dividend payments which still amount to 9.5% per year.  There is no doubt that gas and oil prices will go up and I’m happy to wait while getting well paid in the mean time.

Enerplus (ERF.UN-T) is steadily increasing it’s land holdings and production.  They also have made a commitment to convert from an “Income Trust” to a Corporation.  They have also chalked up sufficient tax credits allowing them to continue paying their current dividends for the next couple of years.  I can live with that.

Because of the market’s volatility I am being very cautious about buying anything and may actually sell something on any significant rally.  I think this is getting to be more and more a range trading opportunity rather that a long term holding market. But it’s summer and that means unpredictability.

That’s all for now.

TL