| HOLD | 82.180 | Glenn MacNeill, P.Eng. | Being acquired by Shell and doesn't think there will be any other bidders. | 2008-07-18 | |
| HOLD | 81.920 | Bill MacLachlan | Being acquired by Shell. If you own, hold on for the $83. | 2008-07-17 | |
| BUY | 58.440 | David Burrows | Will continue to grow production. Thinks natural gas will continue to work its way higher. Expect a large company will eventually acquire it. | 2008-07-11 | |
| HOLD | 64.670 | Robert Floyd | Heavily exposed to gas. Gas tends to get volatile in the shoulder months. Has done tremendously well over the last 7 months. | 2008-06-24 | |
| DON'T BUY | 66.710 | Joanne A. Hruska, CFA | Loves management and properties but cannot get to a valuation any higher than it is. ‘Could’ be a takeover. | 2008-06-23 | |
| BUY | 64.290 | Jennifer Stevenson | Massive gas company. Acreage is among the absolute top deciles in gassy plays in the Montne region. An expensive multiple stock but the growth profile is an extremely impressive. | 2008-06-19 | |
| BUY | 62.900 | John Stephenson | Right place at the right time. (Montne play in B.C.) Very good at acquiring land. Too important not to get taken out. Sees significant upside. | 2008-06-16 | |
| BUY | 62.900 | David Burrows | 2 key things going for them. 1) Very strong pricing in the commodity and he feels natural gas is going a lot higher. 2) Good production growth. Have exposure to the Montne play in Alberta/B.C. Could be a takeover. | 2008-06-16 | |
| BUY on WEAKNESS | 65.070 | Glenn MacNeill, P.Eng. | Have a very substantial position in the Montne play in British Columbia, which has better royalties in the gas production than in Alberta. Good management and good assets. | 2008-06-09 | |
| BUY | 62.400 | Brendan Kyne | Large acreage in the Montne B.C. area. Management has always been extremely successful. An excellent acquisition target, possibly by Talisman (TLM-T). | 2008-06-06 | |
| BUY | 55.780 | Andrew Cook | Great land position and very high leverage to the price of natural gas. He is very bullish on natural gas. | 2008-05-29 | |
| BUY | 55.660 | Jean-Francois Tardif | Probably the best managed oil/gas company in Canada. Has unconventional gas, which means that the degree of certainty is much higher. Should continue to do extremely well. Trades at a premium to others, but deserves it. | 2008-05-27 | |
| BUY | 57.240 | David Burrows | Success in North East Alberta and BC. Lot of upside. One of the more aggressive plays in Natural Gas. Possible acquisition target. Upside in the resource and in natural gas pricing. Thinks it’s going higher. Natural Gas will be higher in 12 months. | 2008-05-22 | |
| BUY on WEAKNESS | 56.800 | Glenn MacNeill, P.Eng. | One of the stars of the oil patch. Has had a great run. Expensive. Well managed. | 2008-05-16 | |
| BUY | 56.400 | John O'Connell, CFA | World-class producer and world-class assets. Good operations. | 2008-05-15 | |
| Comment | 57.530 | Jennifer Stevenson | Has had spectacular growth in production. Kept costs down. Tremendous exposure to the Montne play. Has always been expensive on a multiple basis compared to the peer group. You have to put this aside as it has maintained that premium. With the acreage they have and their success, the stock should continue to have momentum if gas prices continue to go up. | 2008-05-13 | |
| BUY | 57.620 | Michael Smedley | This is a very hot number and is capable of upside and a take out. | 2008-05-12 | |
| BUY | 51.800 | David Burrows | Added 46% to their reserves last year. A good way for the more aggressive investor to play the Montne play. Will have to spend a lot of money to drill out the targets. There could be 17 TCF of natural gas in this area. | 2008-05-06 | |
| TOP PICK | 47.930 | Dennis Dasilva | One of his core intermediate positions. A premier management team. Close to 25,000 barrels equivalent a day. Gas weighted. Tight gas and long life, which is why it trades at a premium multiple. | 2008-05-01 | |
| BUY | 47.770 | Jennifer Stevenson | The darling of the gas growth companies. Have tremendous exploration success. Their Montne play isn't a very good part of the basin. If gas prices continue to increase, the stock could go to $60. | 2008-04-25 | |
| BUY | 46.970 | David Cockfield | Very gassy with a good record. A little expensive now but could run. Into the shale gas in a new area of Montne B.C. | 2008-04-24 | |
| TOP PICK | 48.560 | David Burrows | Stock has come a long way in a short period of time, but they are involved in the play in B.C. called the Montne, which by many views could be as much as 17 PCF trillion cubic feet of gas. Increased their proven and probable reserves by 47% last year. You are getting growth and lower finding costs. The lower royalty regime on deep drilling helps them on 65% of their properties. | 2008-04-18 | |
| WAIT | 46.680 | Joanne A. Hruska, CFA | Unbelievable management. Huge land spread in Northeast B.C. Thinks it's a bit rich at these prices. If you're trading the stock, wait for a pullback. If you are a long-term investor, she thinks it could go a bit higher. | 2008-04-14 | |
| TOP PICK | 43.900 | David Burrows | We’re in a bit of a pinch for natural gas because of a lack of drilling last year. They have a potentially significant play in western Canada. Beating the competition at the growth level and at finding new assets. Really positive pricing power on the product. The company is growing very quickly with a lot of upside. | 2008-03-31 | |
| WAIT | 38.650 | Glenn MacNeill, P.Eng. | Gas dominated company. Shoulder season is traditionally a slow time for natural gas, but we are not seeing it because of the cold weather. This company is very well run. Large acreage position in British Columbia and NW Alberta, in the heart of the very exciting Montne play, which is undervalued. Good management. | 2008-03-07 | |
| HOLD | 39.270 | John Stephenson | Predominately gas. Probably has the best position in the Montne play, an area that is getting a lot of attention with a lot of people rushing in. Very good company in terms of its execution. Trading at quite a multiple at this time. | 2008-03-05 | |
| WATCH | 29.850 | Glenn MacNeill, P.Eng. | Good company and well managed. Gas exposure, so when you feel confident that the gas markets are about to recover, it would be a very good place to put some capital. | 2008-01-15 | |
| BUY | 28.660 | Joanne A. Hruska, CFA | Debt is creeping up, which is why the stock price has come off quite a bit. They are also gas weighted. If she were going to put her money with someone in these depressed gas prices, this management would be at the top of her list. | 2008-01-04 | |
| DON'T BUY | 28.110 | David Cockfield | (Market Call Minute.) He is staying away from the small caps until the dust settles. | 2007-12-21 | |
| TOP PICK | 26.000 | Brendan Kyne | A sector that has been a disaster for a while. Stocks are starting to trade at NAV or below. You get a little over $5 in cash flow in 08. Rough weather could help natural gas. | 2007-12-17 | |
| HOLD | 28.740 | Joseph Schachter | A trophy company in terms of management. Have done a fabulous job in growing the business. Heavy weighting to natural gas and with the current weak prices, cash flow is not growing as much as expected. Good balance sheet. | 2007-11-15 | |
| BUY | 32.660 | Bill Harris | High quality management team with low debt; low operating costs and good organic growth. Hold through the natural gas bear market. | 2007-08-07 | |
| BUY | 41.250 | John Stephenson | Management is very good.
Recommend it.
Volatility is related to the gas shortage rather then the company itself.
It has lots of prospects, and will tie in it's well development.
Commodities is a risk, but he thinks that Natural gas prices are going higher because of hurricanes, hot summers and cold winters. | 2007-06-06 | |
| BUY | 41.250 | John Stephenson | Better management then HPX-T
More staying power, because it's a bigger company.
| 2007-06-06 | |
| BUY | 40.800 | Bill Harris | As long as the natural gas price doesn't drop to 4 or 5 dollars this stock will just go from strength to strength.
It's expensive, but on a 2 or 3 year time horizon the stock could double. | 2007-05-31 | |
| BUY | 41.210 | Bill Carrigan | Gassy plays are all rallying. They might do a little bit better than the oils. He would prefer a basket of stocks. | 2007-05-15 | |
| BUY | 40.250 | Brendan Kyne | The only mid-cap heavily gas weighted player in Canada. Thinks it will lead the charge up in natural gas. The seasonal trade is starting now. Exit it coming of the summer. | 2007-05-10 | |
| BUY | 39.500 | John Stephenson | One of the best names in the junior/intermediate oil/gas space. Pristine balance sheet. Great management. Lots of prospects. | 2007-04-30 | |
| DON'T BUY | 40.400 | Bill Harris | Pure exploration company. Costs in the industry don’t affect them that much. Problem is, it has a massive multiple. | 2007-04-13 | |
| BUY | 40.370 | Glenn MacNeill, P.Eng. | One of the finest, best-managed oil/gas companies in the Western Canadian oil basin. Mainly gas. For long-term investment, this is a good time to jump in. Production will grow with reasonable development costs. | 2007-04-04 | |
| BUY | 38.550 | Bruce Campbell | Bullish on gas. This would give you a good exposure in that sector. | 2007-04-02 | |
| BUY | 38.600 | Brendan Kyne | Gas producer. Good management team. Huge volume growth and should exit around 35,000 barrels per day. | 2007-03-28 | |
| BUY | 32.310 | David Cockfield | Ran into cost problems in late 06 and 07. This has been mitigated and they still have a good operating group. Good technical team. | 2007-03-15 | |
| BUY | 31.800 | Jean-Francois Tardif | Natural gas company. Considered one of the best in western Canada. Strong correction because of low gas prices and high costs. Good long-term hold. | 2007-02-26 | |
| HOLD | 31.080 | David Cockfield | Last year was a tough year for virtually all the juniors. Costs of drilling, tying in wells, etc. went up. Gas prices fell out of bed. There could be of further dip. | 2007-02-23 | |
| BUY | 31.550 | Brendan Kyne | Over the next 2-3 weeks, natural gas inventories are going to fall below last year's. Should be a good year for natural gas and would play this with unhedged companies such as Duvernay (DDV-T), Cyries Energy (CYS-T), ProEx Energy (PXE-T). | 2007-01-29 | |
| DON'T BUY | 31.650 | John O'Connell, CFA | A lot of the smaller names have been looking to become income trusts. With the volatility in energy prices, he would stick with the large cap oil/gas companies. | 2007-01-25 | |
| BUY | 30.910 | Glenn MacNeill, P.Eng. | Weighted to natural gas. Great management team with a great track record of growing production and reserves. | 2007-01-16 | |
| BUY | 35.130 | David Cockfield | Good junior and in a buying range. Well capitalized. Good land position. Good price. | 2006-12-07 | |
| BUY | 34.000 | David Cockfield | An intermediate gassy play. Good company. Has run into the cost problems that other juniors have. Good drilling prospects. Strong management. | 2006-10-26 | |
| HOLD | 31.060 | John Stephenson | A blue-chip oil/gas company. Great balance sheet. 600 potential well targets. Exemplary records in terms of production. | 2006-10-12 | |
| BUY on WEAKNESS | 40.260 | Glenn MacNeill, P.Eng. | Very impressive drilling results. Good management team. Weighted towards natural gas. Has a good slate of properties across the western sedimentary basin. Expensive, but you're paying for 1st class assets and an age when team. | 2006-08-23 | |
| BUY | 39.760 | John Stephenson | This is a good entry point. Could see a 12 month target of $46/47. | 2006-08-21 | |
| BUY on WEAKNESS | 39.580 | David Cockfield | Excellent management. Have had problems bringing production on. A real shortage of rigs and pipe in western Canada has affected a lot of these companies. Not the greatest environment and the stocks have reacted accordingly. Expect a lot of these companies will be edging back into the buying range this fall. | 2006-08-16 | |
| BUY | 39.600 | David Cockfield | Stock, like all the juniors intermediates, has flattened out due to cost increases. Some of their problems have sorted themselves out. Production has gone up quite nicely. Good level. | 2006-06-08 | |
| TOP PICK | 39.360 | Glenn MacNeill, P.Eng. | A great performing company. Great assets in north east British Columbia and Peace River area in Alberta. Growing its production dramatically, 30% in 7 months. | 2006-05-16 | |
| BUY | 43.800 | Wilf Gobert | Just brought on a couple of major gas plant expansions. Within a week they will be 18,000 barrels of oil equivalent per day. Relatively high priced because of their phenomenal growth record. Their track record of drilling success has been extraordinary. | 2006-04-25 | |
| BUY | 40.200 | Wilf Gobert | Largely natural gas oriented so it has had a pretty good pullback. Has been fabulous for generating drilling prospects and growing at an above average rate to its peers. Will continue to be the number one growth story in the intermediate sector. | 2006-03-20 | |
| WEAK BUY | 41.360 | Peter Gibson | Rate of growth is big. If you believe the oil prices will remain high, this is a good buy.
A high risk stock.
Looks interesting. | 2006-02-20 | |
| WEAK BUY | 39.000 | Jean-Francois Tardif | This company is very expensive and is not sure they would convert to a trust. They have a lot of projects on the go for a few years. They have a lot of long-term assets. High quality, but expensive. | 2006-02-15 | |
| BUY | 45.000 | Peter Hodson | Every oil and gas should look at this company to see how they do financing. They do financing when they increase their capital budgets when they have a reason to do so. Can see production growing 30% over the next couple of years. They have a lot of acreage that they can explore. | 2006-02-01 | |
| BUY | 45.040 | John Stephenson | Trading in along with its peers at around 4.8/5 X EBITDA so is fairly valued. Has done a good job of getting financing and meeting its production targets. Had very strong drilling success. | 2006-01-25 | |
| BUY | 45.790 | David Cockfield | Ranks the stock as an “outperform”. Has a very heavy gas content. Making excellent progress. | 2006-01-23 | |
| BUY | 44.900 | Glenn MacNeill, P.Eng. | Has a very high growth rate. Excellent management. Good assets, mainly in the Peace River area in Alberta. | 2006-01-18 | |
| BUY | 44.230 | David Cockfield | Has liked this stock for a while and has waited for it to pull back but it hasn't pulled back enough. 77% natural gas. 270,000 net acres. Could double production in 2006. He is considering buying even though it looks expensive. | 2005-12-30 | |
| BUY | 45.200 | Brendan Kyne | They have an innate ability to find their own production reserves in large magnitudes. Doesn’t see this changing at all. Top flight geological team. | 2005-12-14 | |
| TOP PICK | 45.200 | Glenn MacNeill, P.Eng. | Strong management. Has an excellent slate of properties. Has increasing production. | 2005-12-14 | |
| BUY | 45.600 | Ross Healey | The upside potential, like all the energy stocks, is lot higher. Hard to know when there is going to be any weakness. | 2005-12-13 | |
| BUY | 44.000 | John Stephenson | An excellent company. Has one of the most cost efficient platforms of any of the junior producers. A lot of production coming on. Valuation is reasonable. | 2005-12-01 | |
| TOP PICK | 43.290 | Glenn MacNeill, P.Eng. | Dramatic growth. One of the best management teams out there. Have got some great properties. | 2005-11-30 | |
| BUY | 44.820 | David Cockfield | This company has continued to deliver, and the deliver, and deliver. They have a good programme this winter. Always seems to move up another 10/20% every time he goes to buy. Had significant weather problems in Alberta, in the 3rd quarter. It will continue to move ahead. | 2005-11-25 | |
| PAST TOP PICK | 42.250 | John Stephenson | (A Top Pick Sept 1/05. Up 7.5%.) Excellent operational characteristics. Lots of prospects. Still a lot of upside. | 2005-11-07 | |
| BUY | 42.250 | Wilf Gobert | The company is remarkable for its growth and its ability to keep coming up with new ideas for growing production. Expect it will continue to be one of the superior performers. | 2005-11-07 | |
| TOP PICK | 39.340 | John Stephenson | A little on the pricier side, but has had a great run in terms of its production. Has an expanding production base. Its costs is filling in a lot of its land positions. An incredible management team. Recommending it based on reduced costs and increasing production over time. | 2005-09-09 | |
| TOP PICK | 39.300 | John Stephenson | Not cheap right now. Trading at about 7.8 X cash flow. Production has been excellent. Strong management team. With increasing production lowering its costs going forward and an exemplorary record of exploration success, it's a high quality name. | 2005-09-01 | |
| BUY | 38.560 | Brendan Kyne | Duvernay (DDV-T) and Cyries (CYS-T) are both great Canadian natural gas plays. Have performed tremendously well. Great management. Expects $7 per share cash flow next year. | 2005-08-30 | |
| BUY | 33.900 | Veronika Hirsch | Expensive at 8 to 9 X cash flow, but would rather pay up for good management than bottom fish on poor management. | 2005-07-27 | |
| BUY | 33.900 | John Stephenson | Production is growing about 45% this year. Currently at 11,000 barrels a day and is going to 15,600. Relatively inexpensive. EBITDA multiple of about 3.5. | 2005-07-27 | |
| BUY | 34.400 | Michael Smedley | One of the crack teams in Canada that are able to produce, identify and are responding with good increase in production. | 2005-07-20 | |
| TOP PICK | 33.480 | Wilf Gobert | Highly focused on natural gas. An incredibly impressive company in its ability to generate exploration prospects, drill them successfully and get them into production. Have the most impressive prospect list of any company. Trades at about 8 X this year's cash flow and his target price is based on 9 X next year's. Very lofty valuations. | 2005-07-07 | |
| BUY | 31.400 | John Stephenson | Has had a very nice run. Could see the high $30's in a 12 month time frame. Not overly cheap at 7 X enterprise value EBITDA basis which is a little bit above its resource peers. Has great prospects. | 2005-06-21 | |
| TOP PICK | 29.000 | Glenn MacNeill, P.Eng. | Producing about 11,000 barrels a day now. Have had a consitent track record of growing production per share. Well managed. Expensive, but you are getting good future value for it. | 2005-06-07 | |
| BUY | 28.100 | Brendan Kyne | Exceptionally strong at finding their own production growth. Have upgraded their production estimates 6 times. Good management. Currently producing 11,500 BOE's a day and expects them to exit the year at 17,000. Tremendous growth rate. Tightly run operation. | 2005-05-31 | |
| TOP PICK | 26.150 | John Stephenson | A growth story. Last year's production was about 6,200 BOE's per day which is going to about 11,500. Costs are fairly reasonable. Clean balance sheet. | 2005-04-19 | |
| BUY | 27.360 | Glenn MacNeill, P.Eng. | Quite possible that it will change into a trust. A very well run company. Management is one of the best teams in Calgary. Has a great portfolio of plays in front of it. | 2005-03-30 | |
| DON'T BUY | 30.000 | Werner Muehelemann | Has been a very good performing stock. Extremely expensive. Feels it will have good production growth per share. Trades at 5/6 X net asset value. | 2005-03-23 | |
| HOLD | 25.750 | David Cockfield | Still has some interesting progress to be made. Were recently tying in some wells and hasn't seen that production yet. Well through the 10,000 barrel a day number which indicates the possibility of changing into a trust. Good management. Probably fully priced right now. | 2005-02-21 | |
| BUY | 25.500 | Bill Harris | Extremely good at exploration. Huge amount of cash is coming in. Great management. Trades at a good healthy premium to its Net Asset Value. This would be a momentum pick that would move if oil stayed high. Risk. | 2005-02-16 | |
| BUY | 25.800 | David Cockfield | One of the more popular juniors. Feels that New York money is coming in and that's why the juniors didn't react too much to the jump in oil. 77% gas. Well through the 10,000 barrels a day and rising nicely. Looks like a trust in the making. Still has some upside. | 2005-02-10 | |
| BUY | 23.600 | Brian Prokop | Financed them and are big believers in this company. Consistantly able to find reserves with the drill bit. Consitant growth. Still have a good run to go. | 2005-02-02 | |
| BUY | 17.200 | Peter Hodson | Doing a great job. Early stage. Should be a good story. | 2004-11-04 | |
| SELL | 13.700 | John Stephenson | The company had a really good year so far. Maybe sell some stocks because value has gone up higher than it should have. | 2004-08-30 | |
| WEAK BUY | 14.000 | Peter Linder | A very good story. Producing about 10,000 BTUs. Very successful driller. Very expensive. | 2004-08-19 | |
| TOP PICK | 13.700 | Steve Gold | (Past top pick July 7/04. No change.) The fastest-growing oil/gas in production, operating costs or cash flow on the continent. Organic growth. Unhedged. | 2004-08-11 | |
| BUY | 13.100 | David Cockfield | A very positive pick. Doesn't own, but has been following it. Well capitalized. | 2004-07-26 | |
| TOP PICK | 13.240 | Steve Gold | The best junior gas waited company. Good management. Production growth far surpasses any of the juniors. Had a massive find in NE British Columbia. | 2004-07-07 | |
| TOP PICK | 13.100 | Steve Gold | One of the last junior auto/gas companies that actually offer tremendous value. Have already passed 6000 BOE and could reach 9000 by the end of the year. Strong cash flow and very low operating costs. | 2004-06-22 | |
| BUY | 12.750 | Bill Harris | Had a big oil discovery earlier this week. Should added 10/15% asset value to the stock. | 2004-06-04 | |
| WAIT | 37.140 | David Cockfield | 77% gas. Good management, but there are certainly constraints on their cash flow right now because of the low price of gas. Until he sees gas prices stabilising, he'll stay away from it. | 2004-01-29 | |
Experts that have talked about Duvernay Oil Corp
