Oil & Gas Royalty Investment List This is a list of publicly traded investment choices, not recommended investments. Use at your own risk. Contact us for a free initial consultation. Date: 7/10/04

Symbol- Symbol- Market Avg Name US Resource Resource Location Website Cap (M) Vol (K) EPS Freq % BP Prudhoe Bay BPT Oil AK 755 112 2.67 0.998 Q 11.30 Cross Timbers Royalty Trust CRT Gas TX,OK,NM www.CrossTimbersTrust.com 177 17 2.18 0.185 M 7.52 Dominion Resources Black Warrior Trust DOM Gas AL www.DOM-DominionBlackWarriorTrust.com 252 24 2.47 0.810 Q 10.03 Eastern American Natural Gas Trust NGT Gas WV,PA 140 9 1.61 0.426 Q 7.18 Enerplus Resources Fund ERF ERF_u.TO Oil,Gas Canada www.Enerplus.com 2770 457 2.23 0.260 M 10.68 Enterra Energy Trust EENC ENT_u.TO Oil,Gas Canada www.EnterraEnergy.com 283 140 0.13 0.120 M 10.77 Fording Canadian Coal Trust FDG Coal Canada www.Fording.ca 2120 127 0.730 Q 6.79 Great Northern Iron Ore Properties GNI Iron ore MN 149 2 4.60 1.900 Q 7.68 Hugoton Royalty Trust HGT Gas KS,OK,WY www.HugotonTrust.com 941 93 2.07 0.144 M 7.35 LL&E Royalty Trust LRT Oil,Gas AL,FL,TX,LA 93 84 0.51 0.036 M 8.72 Marine Trust MARPS Oil,Gas LA 60 2 2.40 0.530 Q 7.09 Mesa Royalty Trust MTR Oil,Gas KS,NM,CO,WY 112 2 5.01 0.363 M 7.26 Mesabi Trust MSB Iron ore MN 103 25 0.56 0.050 Q 2.54 North European Oil Royalty Trust NRT Oil,Gas Europe 214 12 1.83 0.430 Q 7.17 Panhandle Royalty Co PHX Oil,Gas OK,TX,NM,more www.Panra.com 63 4 1.38 0.050 Q 1.33 Trust PGH PGF_u.TO Oil,Gas Canada www.Pengrowth.com 2000 532 1.04 0.154 M 12.51 Permian Basin Royalty Trust PBT Oil,Gas TX www.PBT-PermianBasinTrust.com 441 40 0.73 0.063 M 8.02 Petrofund Energy Trust PTF PTF_u.TO Oil,Gas Canada www.Petrofund.ca 1160 329 0.69 0.121 Q 12.45 Plum Creek Timber REIT PCL Timber 21 states www.PlumCreek.com 5980 593 1.70 0.350 Q 4.29 PrimeWest Energy Trust PWI PWI_u.TO Oil,Gas Canada www.PrimeWestEnergy.com 1020 224 0.190 M 12.41 Provident Energy Trust PVX PVE_u.TO Oil,Gas Canada www.ProvidentEnergy.com 903 633 0.37 0.091 M 13.84 Sabine Royalty Trust SBR Oil,Gas FL,LA,MS,NM,OK,TX www.SBR-SabineRoyalty.com 518 15 2.62 0.226 M 7.64 San Juan Basin Royalty Trust SJT Gas NM www.SJBRT.com 1160 206 1.97 0.191 M 9.19 Santa Fe Energy Trust SFF Oil,Gas 12 states www.businesswire.com/cnn/sff.htm 184 14 2.16 0.687 Q 9.38 TEL Offshore Trust TELOZ Oil,Gas LA www.businesswire.com/cnn/tel-offshore.htm 25 15 0.78 0.120 Q 9.38 Torch Energy Royalty Trust TRU Oil,Gas TX,AL,LA www.TorchRoyalty.com 53 47 0.77 0.173 Q 11.16 Williams Coal Seam Gas Royalty Trust WTU Gas NM,CO www.WTU-WilliamsCoalSeamGasTrust.com 153 43 1.57 0.396 Q 10.03

The following Canadian companies are listed on the and as foreign companies traded in the OTC market. Beware of illiquid OTC shares with low trading volume, under 50K shares. Most US brokerage firms do not allow you to buy Canadian shares. US residents can buy Canadian shares by opening an account at www.PennTrade.com. Beware of Canadian tax laws. Acclaim Energy Trust ACNJF AE_u.TO 50 Advantage Energy Income Fund AVNNF AVN_u.TO 40 APF Energy Trust AY_u.TO ARC Energy Trust AETUF AET_u.TO 20 Baytex Energy Ltd BAYXF BTE_u.TO 40 Bonavista Energy Trust BNPUF BNP_u.TO 20 Bonterra Energy Income Trust BNEUF 10 Calpine Natural Gas Trust CNGTF CXT_u.TO 10 Canadian Oil Sands Trust COSWF COS_u.TO 40 Crescent Point Energy Trust CPGCF CPG_u.TO 5 First Premium Oil & Gas Income Trust FPG_u.TO Focus Energy Trust FETUF FET_u.TO 5 Freehold Royalty Trust FRHLF FRU_u.TO 5 Harvest Energy Trust HVEGF HTE_u.TO 20 NAL Oil & Gas Trust NOIGF NAE_u.TO 20 Navigo Energy Inc NVGYF 10 Paramount Energy Trust PMGYF PMT_u.TO 50 Peyto Energy Trust PEYUF PEY_u.TO 20 Shiningbank Energy Income Fund SBKEF SHN_u.TO 50 Trinidad Energy Services Income Trust TDGNF TDG_u.TO 4 Vermilion Energy Trust VETMF VET_u.TO 25 Viking Energy Royalty Trust VKERF VKR_u.TO 50 [email protected] (c) 2004 Advisor Financial Services, Registered Investment Advisor. All rights reserved. Visit our Website: AdvisorFinancialServices.com