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Patrick McKeough is one of Canada’s top safe-money advisors. The Wall Street Journal, Forbes and The Hulbert Financial Digest have all recognized his ability to find stocks with hidden value. He is editor and publisher of The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor; inventor of the Quick Profit/Value System and the ValuVesting System™. A best-selling Canadian author, he wrote Riding the Bull, the book that predicted the 1990s stock-market boom.

PENN WEST ENERGY TRUST $33.70 – Toronto symbol PWT.UN

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PENN WEST ENERGY TRUST $33.70 (Toronto symbol PWT.UN; SI Rating: Speculative) is one of the largest conventional oil and gas trusts in North America. It operates in Saskatchewan, Alberta and British Columbia.

In the three months ended December 31, 2006, Penn West’s revenues rose 4.3%, to $578.5 million from $554.5 million. Cash flow per unit fell 39.4%, to $1.23 from $2.03.

Penn West’s average daily production in the fourth quarter of 2006 was 129,915 barrels of oil per day equivalent, weighted 55% toward oil and 45% toward natural gas. Its average realized price for oil was $57.43 U.S. and $6.97 U.S. for natural gas.

The trust now gets about 3,600 barrels per day of production from its oil sands interests. It hopes to raise that figure to 20,000 within four years.

Penn West’s long-term debt is low at 25% of shareholders’ equity. The trust has an annual yield of 12.1%. It distributed 80% of its cash flow to its investors in the latest quarter.

Penn West is a buy.

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