April 18, 2007 Rob Morgan - Harvest Energy Trust

Biography:

Rob Morgan is Vice President Engineering and Chief Operating Officer for Harvest Energy Trust. He is a professional engineer with over 20 years of technical, operations and management experience in the oil and gas industry. He was most recently Vice President Operations and Corporate Development at Viking Energy Royalty Trust which merged with Harvest Energy Trust February 3, 2006. Prior to joining Viking in 2004, he was a member of the management team of Petrovera Resources, holding positions of Vice President Corporate Development, and Vice President Engineering. From 1985 to 1999, Mr. Morgan held management and senior technical positions at Pan Canadian Petroleum Limited and CS Resources Limited, and technical and field operations positions with Murphy Oil Company Ltd. Mr. Morgan is a member of APEGGA and the Petroleum Society of CIM.

Abstract:

Title: A MATTER OF TRUST

On October 31, 2006, Canada’s Minister of Finance announced plans to change the manner in which distributions from publicly traded income trusts are taxed. The public markets reaction was immediate, reducing the value of various trust units by as much as 20%, despite an announced four-year transition period for existing income trusts. While the trusts continue to mount an aggressive campaign against the Government’s proposal, many are contemplating the future and how their individual organizations are going to evolve should the lobbying effort not be successful.

Following a brief introduction to income trusts and the history behind the creation of energy income trusts, the presentation will look at the impact of the proposed new tax, and what it may mean for this sector of our energy industry.