PARAMOUNT ENERGY TRUST (PET) (TSX: PMT.UN, OTCBB: PMGYF) is a natural gas focused Canadian energy royalty trust which commenced operations in February 2003. PET was formed with the vast majority of the shallow natural gas properties in northeast Alberta discovered and developed by Paramount Resources Ltd. The characteristics of those assets are well suited to a trust; long production histories, predictable production profiles, high field netbacks, minimal ongoing capital requirements and strategic infrastructure ownership.
We have substantially increased our production and reserves through a series of property acquisitions which added geographic diversification, while maintaining the key characteristics of our shallow gas asset base, we are hands-on managers of our capital programs, operating costs, production and gas marketing.
All of our efforts are directed to maximizing returns to Unitholders.
Annually we will update a detailed account of our operations within the Trust Profile as set out below.
Power to Perform - 2008 Trust Profile