Five for 2008 -- PWE

Penn West Energy Trust is a Canadian oil royalty trust, meaning it pays out its income in dividends. Recent changes in Canadian tax laws have hammered Canroys. Penn West won't be able to keep that juicy 15 percent dividend forever due to the tax changes next year, but it's managed conservatively (even if oil prices come down to $60 a barrel, the company says the pre-tax payout is solid) and many analysts think it's undervalued at the current price of $26.22.

Penn West Energy Trust operates as an open-ended, unincorporated investment trust in Canada. The trust, through its subsidiaries, engages in acquiring, developing, exploiting, and holding interests in petroleum and natural gas properties and assets. Its oil and gas properties are located in the western Canadian Sedimentary Basin and within the provinces of British Columbia, Alberta, Saskatchewan, and Manitoba. As of December 31, 2006, it had proved plus probable gross reserves of 482,560 million barrels of oil equivalent; and had working interests in 20,480 oil and gas wells. Penn West Energy Trust was founded in 1979 and is headquartered in Calgary, Canada.