STOCKCHASE

(Top Pick Feb 9/11, Down 39.08%) rebuilding confidence in the management team. Will report year end reserves on Feb 13 and he thinks it will be a pretty good result. Still decent upside. But there are better names to get into.

2012-01-24

WAIT

4.440

Don Vialoux

Distinct downward trend last year and seasonality did not appear. But we have seen the bottom already and some good base building. It is getting lined up very nicely. If you get above $5.30 it will confirm an upward trend. You still have time for this trade. This is the time of year when we have a lot of exploration in Northern Canada so it is an excellent time to own this sector. Third week in Jan to second week in June.

2011-12-30

Comment

5.210

Jim Huang

Heavy oil player in Albania. Some concern about European financial crisis but so far has had no impact. Have done very well in taking old fields and applying new technology. Road has been a little bit bumpy in the last couple of quarters because of how well horizontal wells have been performing but they continue to execute in adding reserves and production. Long-term it could easily trade at double the price.

2011-11-14

PAST TOP PICK

5.600

(A Top Pick Dec 7/10. Down 21.77%.)

2011-11-08

PAST TOP SHORT

4.420

(A Top Short Dec 21/10. Up 44.48%.) Pairs trade. - Long Sea Dragon (SDX-X) and Short Bankers Petroleum (BNK-T). Has shrunk his position. On any kind of bounce would probably Short more.

2011-10-20

HOLD

4.220

Disappointing performer this year but believes in the long term potential of their Albanian oilfield, which is the largest onshore oilfield in Europe. Management has put out unrealistic guidance several times so there is a bit of a credibility problem.

2011-10-13

HOLD

4.220

Struggles with this one. Disappointed in management in that they guided poorly. The main issue is that they have not met their production guidance for probably over 3 quarters now. Cheap. Trading at 80% of their proved reserve value.

2011-10-13

DON'T BUY

3.280

Ron Meisels

Broke down below its trend line earlier this year. A falling knife. Currently in a major down trend. Can't see any support.

2011-10-03

Comment

4.890

Exposure to 6 billion barrels of heavy oil in Albania. Using Canadian technologies and applying it to old fields. Have had operational hiccups over the last couple of years. This is a volatile stock that can be used as a trading vehicle. Thinks the value will be realized eventually.

2011-08-10

HOLD

7.260

Michael Smedley

Sold off with the market. Is in Albania. Heaviish oil. It is a good company so you don’t have to sell it off.

2011-06-14

PAST TOP PICK

7.240

(Top Pick Jun 10/10, Up 5.39%) returns were pretty awful. Short interest in stock has grown, which is peculiar to him. Brent us up about $30 and yet the stock is flat. People are selling it or shorting it as a hedge against oil going down. Still views the stock as a good upside.

2011-06-08

DON'T BUY

7.960

Robert Lauzon

Expects this will tread water for awhile because of all the geopolitical risks. Their land are the old Russian fields in Albania that they are reviving. High risk area.

2011-05-09

DON'T BUY

8.330

Bill Harris, CFA

Has potential of 40,000 BOE’s a day and they have a production target of 20,000 by the end of the year but this is hard to do so it’s an execution risk. They need a high oil price and north of $80 is great for them so if the price falls, because of China or something, it could hit them hard.

2011-04-18

SELL

8.630

Been bearish on this one for a long time. Have done a good job in Albania developing the resource but have had enthusiastic and high expectations on how well they are going to do. Way behind on their numbers. His target is $6.25.

2011-04-14

STRONG BUY

8.610

Really likes this one. A total no brainer if you are a bull on oil prices. Sitting on a multi, multi billion heavy oil field in Albania. Game plan is to prove up reserves, grow production and sell the company. Worth $14 a share on $100 oil.

2011-04-13

DON'T BUY

8.370

Hasn’t been a big fan of this stock. It’s fairly priced if not overvalued. On a NAV basis it looks fairly valued, but they keep missing on their production numbers. If it started to move higher he might be on the short side of this stock.

2011-03-17

DON'T BUY

8.330

Jeff Parent B. Eng. FCSI

A lot of these things have been selling off. It doesn’t look unusual. The average price is about $6.80. He would avoid it and wait and see. A loss of momentum. $7.30 is possibly a leveling point and you might see support there.

2011-03-11

BUY

8.650

Lesley Marks

Street was disappointed. Expectation was for higher reserves. She doesn’t think there is a lot more downside. She would be looking at it as a buying opportunity. If management starts to buy stock, street will have confidence in management.

2011-03-09

SELL

9.230

Located in Albania, which is having disruptions between political parties. Very expensive on a flowing BOE basis. A massive amount of reserves there. Should have been doing 20,000 BOEs a day now so stock is over fair value.

2011-02-22

PAST TOP PICK

8.700

(A Top Pick Feb 8.10. Up 59.89%.) Still likes.

2011-02-09

TOP PICK

8.700

Increasingly bullish on oil prices and this is a great way to play as it is low risk name in an Albanian field that was discovered in 1929. Looking for a 20% increase.

2011-02-09

DON'T BUY

8.340

Bankers Petroleum (BNK-T) in Albania versus Gran Tierra (GTE-T) in Colombia? From a political standpoint, Colombia is more stable but his choice here would be Canacol Energy(CNE-X)and Estrella (EEN-X). Albania is starting to get political protests.

2011-01-31

DON'T BUY

8.210

Ross Healy

Expensive. Getting to about 4.5-5 times Book Value. Most of the oil companies are probably under 2X book. Unless you like a lot of risk, there are others he would rather be in.

2011-01-28

BUY

8.570

Stumbled a little in the last 6 months or so but it has a ton of potential. Field it is developing is well known and has been well explored and are doing some development drilling there. Just deal a deal with a local refinery for a fixed price based on Brent crude.

2011-01-17

TOP SHORT

7.710

Pairs trade. - Long Sea Dragon (SDX-X) and Short Bankers Petroleum (BNK-T). 2 companies with similar strategies. They are essentially applying new western drilling techniques to known overseas’ basins that haven’t used them before. This company has been active in Albania for about 5 years but had some production disappointments recently. Seadragon is doing the same in Egypt where they have very good connections.

2010-12-21

TOP PICK

6.980

Likes big oil fields which this is and in a fairly stable part of the world, Albania. 6 Billion barrel field. Have only extracted about 3% of the oil in play.

2010-12-07

BUY

6.700

Recently announced production was flat quarter over quarter but people are holding it expecting strong production. Well established field in Albania that had previously been drilled so there is a lot of core data. Expect a major will ultimately take it out.

2010-11-26

HOLD

6.950

Ron Meisels

Up to mid year it was doing very well. Problem in early 2010 was that the stock got too far away from the 200-day moving average and needed a pullback. This has now happened and is now close to the 200-day. The potential is that the stock is gong to break on the upside. To be safe use a $6.10-$6.20 Stop Loss.

2010-11-24

DON'T BUY

7.280

Just sold his holdings. Had lots of potential but had a significant production slip up last quarter. Not comfortable with guidance they will give for next year. Too pricey right now.

2010-11-10

Comment

7.280

David Baskin

Should have a good quarter with the spike in oil prices. No opinion on this one.

2010-11-09

DON'T BUY

7.190

Brooke Thackray

As far as oil goes, seasonality sweet spot is Feb 25 to May 9. Also a good place in summer into September. Right now Oil stocks don’t do well. BNK just recently lowered guidance for 2011. They have a descending triangle right now. If it falls below $7 it will be a bit negative. Wouldn’t touch it.

2010-11-01

PAST TOP PICK

7.060

(A Top Pick June 10/10. Up 3%.) Still likes. Had a bit of a stumble last quarter, which is very unusual.

2010-10-27

BUY on WEAKNESS

6.880

One of his highest weightings. Difficult operating report a while ago which makes an opportunity to acquire the stock.

2010-10-22

Comment

6.710

Andrew McCreath

Stock has pulled back due to disappointing production guidance in Q4. Some investors are buying because of the reduced price.

2010-10-15

SELL

7.100

Just cut production guidance and shares are trading down significantly. Likely indicative of a trend change in their operations. If you own, take profits. (He is Short the stock.)

2010-10-07

BUY

7.740

David Burrows

(Market Call Minute.) One of the strongest performing companies in the oil group.

2010-09-28

BUY

7.860

Heavy oil exposure in Albania. Initial concern was if they could meet exit guidance for the year and he feels reasonably confident that they will. Also potential for development to the west of them. Sitting on a very significant field.

2010-09-21

HOLD

7.150

Ron Meisels

Fallen below its 200-day moving average but he could make a case for a descending triangle and there will probably be a break above the descending line. A break above $8.25-$8.50 would be a signal.

2010-09-08

STRONG BUY

6.820

Forecasting 15,000 barrels per day by the end of 2010. Good management. Exclusive access to largest onshore oilfield in Europe (Albania) and have 3 rigs running and expected to add a 4th in Q1. Once they have proved up, he expects the company to be sold at a big premium.

2010-08-31

BUY

6.820

An international, oil weighted story and the market is keying off on this.

2010-08-31

BUY

6.800

Jamie Horvat

Heavy oil exposure in Albania. Continues to like. Trading at a discount to 2P NAV. Analysts have a NAV 2P (proven and probable) of about $6.95-$6.90 a share. 250 million barrels in reserves with exposure to 1 billion barrels.

2010-08-16

DON'T BUY

7.270

Charles Lannon

Midsized, Calgary-based E&P oil company. This area will be driven by the price of oil and it is difficult to have a bull market view of oil in the near term of 12-18 months. Would suggest something more diversified geographically, product and also downstream activity.

2010-08-10

DON'T BUY

7.270

David Baskin

It controls very large reserves and this got people excited but production is not growing as fast as people thought. Need oil price to go higher

2010-08-05

PARTIAL BUY

7.990

John Zechner

Recently did a financing, which has put a short-term lid on the stock. Growth is there on a cash flow basis. Wouldn't have a giant position on this but if oil prices continue to go higher, they'll do well.

2010-07-23

Comment

7.990

Possibility of a takeover in 12 months. Has a real opportunity to double its production in the next couple of years. Probably a little overvalued right now. You can either Hold if you own or start picking away at it.

2010-07-23

BUY

7.270

Has pulled back in the last 3-4 months like most energy stocks. Still has a lot of potential upside. The more they continue to drill, the more they increase their reserves. As they continue more horizontal drilling, he expects they will improve their recovery rates.

2010-07-20

BUY

6.860

Caller: Why has this one not spikes higher? This is one of the international ones he follows. It’s easy to look at this stock and see a base in around where it is trading. Recoveries in the field are in the order of 2%. Tried and true team. Upside is pretty huge here. Could get to $20 but not where he is looking.

2010-06-10

TOP PICK

6.860

[There was not time left on the show for him to discuss this top pick]

2010-06-10

DON'T BUY

7.470

Douglas Kee

Roll your dice stock. Horizontal drilling in Albania. Hopefully moving from 10K barrels to 20K. There lots of choices in Canada.

2010-06-02

HOLD

7.490

Dennis Da Silva

100% oil in Albania. Managed to grow production to about 10,000 barrels a day and are starting to experiment with alternative technologies in order to improve recovery.

2010-05-18

BUY

8.060

Jamie Horvat

(Market Call)

2010-05-11

BUY

8.960

Peter Imhof

Oil/gas play in Albania. Hitting new highs. Analysts are showing $20 targets.

2010-04-30

HOLD

8.500

Looking out 2 years or other bit longer you should be in great shape. Currently producing around 9500 BOE's. The problem is, it is growing very fast and will eventually bring on another 15,000-20,000 but it's pricing reflects 30,000.

2010-04-16

HOLD

9.120

Lesley Marks

Oil play in Albania. Strong management team. Stock has had such a great run back analysts’ expectations are in the range where the stock currently is.

2010-04-07

BUY on WEAKNESS

9.230

Re-working old oil fields in Albania with modern technology. Also doing their own exploration drilling using horizontal extraction. Expect it will be taken over. Has had an incredible run and would be interested at $8 or less.

2010-03-26

PARTIAL SELL

9.320

Has been up last 2-3 weeks as management has been on the road because of their new reserve report. Good stock on a longer-term basis and easily has 50% upside from current levels over the next 2 years. If you are a shorter term investor, you might want to take some profits while stock is high.

2010-03-24

VAGUE

9.470

Jason Donville

Reported good reserve numbers. Might be moving because of there might be a suitor out there. Somebody out there knows something.

2010-03-23

BUY

5.790

Had 34 % increase in reserves. Waiting to see if contingent reserves can be proved economical, in which cash this thing would move higher.

2010-03-05

TOP PICK

5.610

Biggest onshore oilfield (5 billion barrels) in Europe and have only recovered 3%. Current stock price means you can recover another 2%-3% while in Western Canada they expect 15% recovery so there is a lot of upside left.

2010-02-08

SELL

6.420

World-class field in Albania. Has had a heck of a run and is trading at about 160% of net asset value. If you own, consider taking your profits.

2010-01-22

BUY

6.540

Tremendous win for him. It is exclusive access to two key fields in Albania. Recovery to date has been 3%. Tremendous room to take North American advances for more recovery.

2010-01-05

HOLD

5.860

Has done very well but still sees upside. There are some further drilling results coming that will be a strong performer for the company.

2009-12-16

HOLD

5.090

Paul Thornton

(Market Call Minute.) Has been a good one.

2009-11-13

SELL

4.970

Production numbers have not come on as quickly as expected. Production profile is down, not up, which is what you want to see. It is trading at an expensive price. Market s looking at reserves in the ground and is doing horizontal drilling. You want to take some profits.

2009-10-20

BUY

4.710

Split the Albanian heavy oil and the shale gas in the US into BNK Petroleum (BKX-T). Everyone wants to play the Albanian heavy oil because of a possible takeover.

2009-10-13

Comment

4.730

Had a good run but there is still room. Patos-Marinza, their main asset, is a huge oil play of 5 billion barrels. All they have to do is move the recovery factor up, which can be done by more infill drilling, putting more capital in, steam flooding, etc. Great M & A target. If you own, you can take some money off the table and waited for a pause to come back in.

2009-09-30

HOLD

4.310

Good name. Gets 50%-60% of Brent (?) so it gets world prices for its heavy oil in Albania. Has had a good run so over the next 6 months his outlook would be sideways. Some upside but not tremendous. Good long-term hold.

2009-09-28

BUY on WEAKNESS

4.200

Very technically oriented team with a great track record. Have an operated access to 2 key heavy oil fields in Albania, one of which has total oil in place of about 4.7 billion barrels and a very low recovery factor to date. A lot of visible growth to come.

2009-09-24

HOLD

4.380

Jennifer Stevenson

This is a stock you cannot judge by cash flow multiple. You buy by what the management team can do with the asset as they have done before. They have a lot of old equipment that is being overhauled. The cash flow will come in eventually. Take half if the quadruple has made it overweight in your portfolio.

2009-09-22

PARTIAL BUY

3.950

Joanne A. Hruska, CFA

Good team. Great asset in Albania. She doesn't own it right now but hopes to start picking at it in a little bit. Reasonable price.

2009-09-14

BUY

3.820

Heavy oil in Albania. Good management has proven their expertise in heavy oil by how they have developed the assets in Egypt. Some of their wells are producing better than expected. Takeover possibility.

2009-09-02

BUY on WEAKNESS

3.740

Heavy oil project in Albania. Good management. Having good success with some of their horizontal wells that can do 150 to 160 BOEs a day but generated only $0.03 in cash flow or $0.12 annualized. Most companies trade at 4 or 5 times cash flow so trading way above what they should be.$2.80 or lower would be his entry point.

2009-08-21

Comment

3.740

Heavy oil play in Albania. Caller has warrants due to expire and is thinking of selling those, waiting for a downturn in shoulder season and then picking up longer-term warrants 2 years out. Answer: A reasonable strategy as the stock price is fairly valued at this level. Currently producing about 6400 BOEs a day and ramping up to 8200 by year-end. Wouldn't rush out and buy the stock today.

2009-08-21

BUY on WEAKNESS

3.550

(Market Call Minute.) Has had a fantastic run.

2009-08-14

BUY

2.970

Peter Hodson

Has done exceptionally well and have great leverage to the price of oil. Operationally it is one of those “develop and sell” companies and believe it will be sold in the next couple of years at a higher valuation.

2009-08-06

BUY on WEAKNESS

2.900

Albanian heavy oil. Had a fairly significant pop in the last little while. If you own, consider selling and buying back on a pullback.

2009-07-24

BUY

2.400

(Market Call Minute.) Great management team.

2009-07-17

BUY

2.310

Jennifer Stevenson

Oil in Albania. Have some good low-risk reserve additions. Not a bad entry point if you are bullish on oil, which she is.

2009-06-01

DON'T BUY

1.940

Jeff Parent B. Eng. FCSI

Had a 36% drop in one day last October. We are at that point again. If it can get above that level it would move higher but right now it is not doing that. Has formed a “cup and handle”. Has lost a lot of its forward momentum.

2009-05-13

WAIT

1.730

He likes this one. They don’t make much at these oil prices. Probably wont do anything short term on the up side until oil increases. Has s good balance sheet.

2009-05-01

BUY

1.720

Jean-Francois Tardif

(Market Call Minute.) Great management but at $50 oil it's at a breakeven point. If oil goes down, there are risks. Thinks the company would like to sell themselves so he kind of likes it.

2009-04-07

WAIT

1.820

Producing about 6300 BOEs a day in Albania. Working on old oil fields with very low recovery using modern technology. Low gravity crudes so at $40 oil they don't make any money. At $50 they will and make a little bit. At $75 they make a lot.

2009-04-06

BUY

1.880

Management has a great track record and company is incredibly well managed. Have a loan where money is released contingent on oil prices. As oil prices gets over $50 they will be open to start drilling again. Speculative.

2009-04-02

PAST TOP PICK

1.480

Jean-Francois Tardif

(A Top Pick Feb 12/08. Down 34.7%.) Sold at a profit. Have just upgraded total resources in the ground to 4 billion barrels but recovery will cost $40-$50. Long-term, it is extremely attractive.

2009-02-26

HOLD

0.670

Jennifer Stevenson

Albanian oil. Produce about 7000 BOE's a day. About $18 million in cash. Have about $20 million in debt with a $35 million line of credit. Drilling is going very well. Good inventory of projects. Good hold for the next couple of years. Inexpensive.

2009-01-20

BUY

1.050

Albania oil play. Company just reported that they will live within their cash flow. Did 5,880 barrels of oil, up from 4,789 the year before. Running rate is about $.32 in cash flow so is trading at about 3 X cash flow. Looking to more than double production in the next 2 years. Cheap.

2008-11-14

PARTIAL BUY

1.150

Peter Hodson

Company has done everything right. There is an indication that they may not spend as much money in this environment. Operations are fine, fields are fine, management is great and everything is in place. Thinks the NAV is well in excess of the current price. Shipping away at it.

2008-11-07

BUY

3.700

Located in Albania. Did quite well in the 2nd quarter with about 6100 BOE's a day. Expects 7000 by the end of this year.

2008-09-25

BUY

3.500

Joanne A. Hruska, CFA

There has been share consolidation that has created some weakness. She is very close to buying this. Good management. Feels they will be able to raise financing.

2008-09-12

Comment

4.250

Jean-Francois Tardif

Split the company in 2 between Albanian assets and US, which is unconventional gas and looking very promising. Likes management. Expects the stock to start acting well again. With falling oil prices, there is no surprise that the stock has been weak.

2008-09-04

HOLD

4.850

(Market Call Minute.) Not particularly enamoured with the management group.

2008-08-29

BUY

4.270

Peter Hodson

Good management team. Split the company in 2 between Albanian assets and US. Feels they will ultimately sell the company in 3 or 4 years.

2008-08-27

BUY

4.230

(Market Call Minute.) Beat their numbers in the 2nd quarter. Looking for them to do 5608 came in at 6100. They have plans that show they can easily break through 7000. An Albanian oilfield.

2008-08-26

BUY

4.190

Albanian oil. Has tremendous upside. Next catalyst will be the reserve estimate due out later in the year.

2008-08-22

DON'T BUY

3.990

Bill Harris, CFA

Consolidated on a 3 to 1 basis and acquired the remainder of their Albania project. Stock dropped 50% in the bear market. Very good management team. If oil stabilizes around $100 this could get to $8 to $10. The market will come back to larger companies first.

2008-08-20

BUY

3.890

Separated the company into 2 segments, a US focused one and the other an Albanian one. Albanian one has the greater growth profile. Producing around 5300 barrels oil equivalent a day. Likes management. Clean balance sheet.

2008-08-06

BUY

4.460

Michael Smedley

For those who are willing to speculate offshore, heavy oil, Albania. Enormous asset. Your main worry would be the politics.

2008-08-01

DON'T BUY

4.600

John O'Connell, CFA

Has a massive resource that he thinks is offshore. He would prefer to stay with something that is in Canada. Would prefer Bronco Energy (BCF-T).

2008-07-31

STRONG BUY

1.290