March Distribution Five Cents--$0.05/Unit.TORONTO--(BUSINESS WIRE)--March 12, 1998--NCE Petrofund(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :NCF See National Cristina Foundation. .UN.) John Driscoll John Edmund Driscoll (b. June 27, 1981 in Fort Belvoir, Virginia) is an American television and soap opera actor. Early Life Driscoll grew up in Virginia. He went to Woodbridge Senior High School in Woodbridge, Va and graduated in 1999. , President of NCE NCE Networks of Centres of Excellence NCE New Chemical Entity (pharmaceutical research) NCE Normal Curve Equivalent NCE New Civil Engineer (UK Journal) NCE Non-Commercial Educational NCE New Century Energies Resources Group, announced today that NCE Petrofund Corp. has declared a cash distribution of five cents ($0.05) per unit for the month of March, 1998. Date payable The distribution is payable on March 31, 1998 to holders of record on March 18, 1998. Distributions are made monthly. Distributions for the past 12 months total 71 cents ($0.71). Oil prices A warm winter in the major oil consuming regions and reduced consumption in Asia have resulted in high inventories and lower prices. In addition, OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its over-production and member nations' inability to reach consensus on quotas have contributed to the current excess supply. On February 28, 1997, oil was priced at $20.30 U.S. West Texas Intermediate (WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) ). On February 28, 1998, it was $15.34 WTI. NCE Petrofund NCE Petrofund is a royalty trust royalty trust An ownership interest in certain assets, generally crude oil or gas production and real estate. Unlike the usual corporate organization, a trust arrangement permits income and tax benefits to flow through to the individual owners. that derives income from producing oil and gas properties, primarily located in Western Canada. It trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol NCF.UN. Current price The price for NCE Petrofund on the Toronto Stock Exchange at the close of the market, on March 11, 1998, was $3.81 per unit. Distributions Distributions for the past 12 months are: Month Distribution per unit ------------------------------------------------ April 1997 $0.07 May 1997 $0.07 June 1997 $0.06 July 1997 $0.06 August 1997 $0.06 September 1997 $0.06 October 1997 $0.06 November 1997 $0.06 December 1997 $0.06 January 1998 $0.05 February 1998 $0.05 March 1998 $0.05 ------------------------------------------------ Total 12 month distribution: $0.71 ------------------------------------------------ NCE Resources Group NCE Resources Group was formed in 1984 as an oil and gas investment management organization. NCE investment funds have interests in over 5,000 wells. NCE employs approximately 130 people in the areas of engineering, land management, marketing, geology, accounting, finance and investor relations Investor relations The process by which the corporation communicates with its investors. . It provides a full range of technical, operational, administrative and investor services. Based on total oil and gas production, NCE ranks among the top 30 oil and gas companies in Canada. Hours of service(x): Monday -- Thursday 8 a.m. - 8 p.m. Fridays 8 a.m. - 6 p.m. Eastern Time (x)except on Canadian statutory holidays. CONTACT: NCE Petrofund Investor Services (investor enquiries) 416/364-9297 or 1-888-739-4623 e-mail: info@nceresources.com Website: www.nceresources.com or NCE Petrofund Jim Wright, 416/ 364-8788 800/563-4623 (FAX) |
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