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Special Reports


RBC Capital Markets releases research report on the Alberta Royalty Review Panel’s proposals

TORONTO, October 18, 2007 — RBC Capital Markets today released its research report on the impact and desirability of the proposals made by the Alberta Royalty Review Panel to increase Alberta royalty rates.

Titled "Short Term Gain for Long Term Pain", the research concludes that the panel's proposals are not in the best interests of Albertans and questions whether the Province "wants a bigger piece of a shrinking pie, or a reasonable piece of a growing pie."

"While some good recommendations are put forward, in sum, the panel is advocating a policy of short-term gain, ultimately at the longer-term expense of both Albertans and the oil and gas industry," said Dirk Lever, an RBC Capital Markets analyst and one of the authors of the report. "Given the unique, symbiotic relationship between province and industry, and the value that each bring to the table, it is in the interests of both to create an environment conducive to long-term capital investment."

The research report is available at www.rbc.com/newsroom/pdf/20071018energy.pdf

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For more information, please contact:
Jackie Braden, (416) 974-212


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