Our diversified asset base consists primarily of royalty interests, which provides income from the production and sale of crude oil, natural gas, natural gas liquids and potash. We have an interest in over 25,000 oil and gas wells, the majority of which are located in Alberta.

Our land holdings encompass more than two million gross acres, throughout western Canada and in southern Ontario.

LAND HOLDINGS BY PROVINCE

(gross acres)1	2007	2006	2005
Alberta	1,488,098	1,218,097	1,207,929
Saskatchewan	505,223	464,977	463,948
Ontario	296,109	296,109	244,447
British Columbia	82,423	81,904	81,559
Manitoba	8,283	8,283	8,062
Total	2,380,136	2,069,370	2,005,945
Undeveloped land	589,099	598,235	555,171
1 Gross acres represents the total number of acres in which we have an interest.