Fellow members,

The next meeting of the Canadian MoneySaver Ottawa ShareClub is
Thursday, June 17, 2010 at 7pm in the conference centre of the Ottawa
Citizen Building on Baxter Road (just east of the Pinecrest Mall off the
Queensway). The ShareClub, loosely affiliated with the Canadian
MoneySaver magazine, is an informal gathering of people with an interest
in personal finance. There are no dues nor is there a formal membership
list.

We will look at Zargon Energy at this month's' meeting. Zargon is a
small oil and gas exploitation company that focuses on recovering the
remaining resources in proven wells. It is an income trust that will
soon convert to a corporation, and is currently making a large income
payment to unitholders. Please look up information on the firm on the
internet and consult brokerage resources. If possible, do a 6-year
historical analysis of the company's earnings to see how profitable it is.

At the May meeting our speaker, broker Steve McIlroy of Edward
Jones in Vanier, spoke on "Raising Financially Aware Children." He
explained a programme that uses printed materials in addition to a large
clear-plastic piggy-bank that has four sections: Spend, Save, Invest and
Donate. We talked about similar programmes and about incentives to help
them work. Steve also pointed out some drawbacks to investing in
preferrred shares: they have no maturity date, unlike bonds; there is
significant interest-rate risk; most are non-cumulative with regard to
dividends; and they are thinly traded.

Irving Silver has begun to consider options for a new Ottawa
ShareClub coordinator for later this year. Please direct any suggestions
or comments his way. I will soon be stepping down as coordinator.

Meeting dates for this year are September 8, October 14, November
11, and December 8.


Robert MacKenzie, 
robert.mackenzie@rogers.com