I noticed a lot of post recently about COS and oil sands. i'll put my 2 cents in. I own COS.un and its split version OST.un as well as CLL and PBG(which isn't mention as often as Cll but in my opinion is an even better bet than CLL especially if its patented THAI process proves sucessful later the year). All 4 have done incredibly well and I intend to hold for the forseeable future. But the main purpose is to alert you to a trust that I bet no one has ever heard of. GH.un.v. Gamhost is a very small thinly traded chain of 3 hotels/restaurants/casinos in Alberta; one of which is in Ft.McMurray (a small town in N.Alberta that is the center of the Can Oil Sands region which as you probably know is the world�s largest reserve of oil)(2nd to Saudia Arabia if you believe the Saudis). The town (pop around 50K) will double in population over the next few years (that�s a virtual certainty). Gamehost has a monopoly in 2 of its 3 locations (Grande Prairie(also a small Northern oil town ) and Ft. McMurray (and a recent request to open a 2nd casino by a competitor in FtMcM was rejected by regulatory authorities) so it is literally the only game in town in a booming community. I�m sure you are not surprised by the fact that the gaming industry is quite profitable if you have enough customers to cover the overhead. Also pays a 5+% distribution (if you include a special I got in Dec) that I�m sure will be increased this year (they did a lot of expansion in �05 at Ft. McM and opened a new casino/hotel/ restaurant in Calgary ).IMO a very safe way to play energy without worrying about the price of oil. 2 Caveats- the market price went up a lot last year so you are not getting in at a bargain basement price but I still think it is an attractive investment especially considering the level of risk involved and 2 this is really an orphan with almost no coverage or following. I expect it will get better known with time and at some point probably be bought out by a larger chain. Mgt owns something like 40% so I think the unitholders will be treated fairly(BTW management's large position is one of the reasons it is so thinly traded). Do your own DD but it's hard to fine out very much. The trust does have a web site with some investor information.
I'm no expert but their Can properties can use SAGD (with greater cost and lower yields). There won't be any delay. I think the market is giving Thai very little value. In any case, the co is very confident that Thai will work. If it does there is far more upside than Cll. If it doesn't i think it is still a good buy at current prices.