Since PGH is a Canadian Royalty Trust you have some things to think about before 2011 rolls around. It may or may not be advantagous to continue ownership depending on your tax bracket and if your holdings are in an IRA or not. Because of changes in Canadian tax laws small Royalty Trusts are tempting buyout targets. The small oil trusts don't have the capital to thrive in the new tax environment. As Pengrowth is small it may well be bought out as was Harvest Energy (last year) and Canetics (early 08). Whether a buyout is a plus or a minus for shareholders depends upon the current share price vs. actual value of the company. It is possible that the new company may not pay a dividend.

Fortunately, I have a significant amount of time till the tax changes. Thank you for your insight. PGH has been really good to me during this down market, it is indeed an income stock.