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International Buyout Fever Hits Energy TrustsHarvest Energy Trust (HTE) shares are soaring after the company agreed to a multi-billion dollar buyout. South Korea’s state-owned National Oil Corp will buy Canada’s Harvest Energy Trust for $3.9 billion in the largest outbound cross-border oil and gas sector deal in Korean corporate history, according to Forbes.com. The deal is sending shares up by a third today, as Harvest agreed to a price of C$10 per unit plus the assumption of debt C$2.3 billion debt. As a whole, the Canadian Energy Trusts Index is mixed, although the Harvest deal is sending its average up by 3%. The sector is now ahead of the S&P 500 by 15% over the last month. Enterra Energy Trust (ENT), now the Index’s smallest component, and Penn West Energy Trust (PWE), its largest, are moving higher by 6% and 2.5% respectively. The former is now up by more than 20% over the last week. Precision Drilling Trust (PDS) is off by -2% today, while Baytex Energy Trust (BTE), Pengrowth Energy Trust (PGH), and Enerplus Resources (ERF) are slipping fractionally. The Canadian Energy Trusts Index is the top performing oil-tied Index over the last month, up by 16%. The sector is also a top pick among dividend investors, ranked in the top-10 tckerspy Indexes by yield. 
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October 22nd, 2009 at 10:56 pm
Anybody who bought HTE at around $25 per share would be silly to vote yes on the sale to the Koreans. Why would Harvest management sell so cheap, the stock is surely worth more than $15?
October 23rd, 2009 at 12:25 am
Four economies around the world not affected by BANKING disaster,, spells CASH…
Canada
Australia
Singapore
Hong Kong
Natural Gas industry should be bought by hedge funds in Nov., some would say.. Therefore, Im looking for Natural Gas companies located in these locations. HTE is an just an example of what I am talking about and why I’m correct…
PWE is my favorite,,, which one is next to burst up 20%??? Time will only tell..
Safe trading to all…
December 1st, 2009 at 9:13 am
Voting NO. HTE unit shares are worth more?
December 2nd, 2009 at 11:38 pm
Why sell out the company when the shares are at an all time low and now do to rebound? Something doesn’t sound right here. Like the poster above said, there are a lot of investors in at $25.00 and above per share. Why would we want to sell out at $10.00. The Board is not telling us something. Until we hear that the future is bleak and worse than the past I say NO SALE at $10.00.
Now if you want to make me an offer at $25 that would be another story. I like other stories, how about you?
December 17th, 2009 at 6:08 pm
I bought most shares at between $25 and $30. I lost my shirt in this stock, especially when they lowered the distribution to .05 a share per month.
This stock was supposed to rebound this year. I’ve been holding it for that reason.
This doesn’t seem like a good move to me.