The median share price of publicly traded junior oil and gas companies operating in Western Canada slipped 12% in the first five months of this year, according to a quarterly report by Iradesso Communications, a Calgary-based investor-relations firm. The trust sector in Canada also lost some ground. The median unit price of conventional oil and gas trusts in Western Canada dropped 6% during the same period, the firm reports. Even when monthly cash distributions are included in the calculation, the median unit price of the trusts slipped 2% from January to May, according to Peter Knapp, president of Iradesso. "The first week of June has seen even further declines for oil and gas investors," he adds. As a group, the 90 junior oil and gas companies' production have a median weighting of 69% to gas. The 32 conventional trusts' gas weighting is 57%. Since oil prices have held strong while gas prices have slipped, the juniors have taken more of a hit, he says. For more on this, see the July issue of Oil and Gas Investor. For a subscription, call 713-260-6441.

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