| PAST TOP PICK | 14.780 | Robert Floyd | (A Top Pick Sept 14/07. Down 10%.) Took some profits in the $19 area. Good production growth last quarter. Skewed to light oil and gas. Good management. Still a Buy. | 2008-08-21 | |
| HOLD | 17.450 | Glenn MacNeill, P.Eng. | This will continue to grow. Likes its slate of properties. | 2008-07-18 | |
| BUY | 17.980 | John Stephenson | With Duvernay Oil (DDV-T) being taken over by Shell, Crew Energy (CR-T), Galleon Energy (GO.A-T) or Storm Exploration (SEO-T) would be good replacements with acreage in the Montney region. | 2008-07-16 | |
| BUY | 19.380 | Joanne A. Hruska, CFA | Among the cheaper plays, missed a couple of quarters. | 2008-06-23 | |
| BUY | 18.900 | Jennifer Stevenson | In the Montney play. Impressive land spread. Generates a great deal of cash flow giving several years of impressive growth. Reasonably cheap on a multiple basis. | 2008-06-19 | |
| BUY on WEAKNESS | 18.200 | Joseph Schachter | About 50-50 oil and gas. In the Montne gas play. Think they will average just over 19,000 BOE’s a day this year. A quality name. A table-pounding buy at $16.50. | 2008-06-05 | |
| BUY | 17.380 | Andrew Cook | (Market Call Minute.) Natural gas. Going higher. Great land base to grow their production. | 2008-05-29 | |
| BUY | 17.960 | Jennifer Stevenson | A compelling buy. Debt is low. Trading at less than 5X cash flow. Land spread is unbelievable. Have a lot of Montney exposure, a great land package up in Dawson plus all their Pushkwa oil. Great value even valuing in the new royalties that are coming in 09, which will hit their oil production. | 2008-04-25 | |
| PAST TOP PICK | 16.410 | Joanne A. Hruska, CFA | (A Top Pick Dec 5/07. Up 16%.) Still buying. Just announced some financial numbers that weren't quite at their target, which worried the market. Trades at Price/Cash flows and NAV multiples the same as their peer group or less, but this management team deserves higher multiples. | 2008-04-14 | |
| PAST TOP PICK | 14.930 | Joseph Schachter | (A Top Pick Apr 24/07. Down 13%.) 50/50 oil and gas. Thinks by Winter 08/09 there will be $12 natural gas. | 2008-04-04 | |
| BUY | 16.500 | Joseph Schachter | Likes this one a lot. The key thing for them is the big ramp up in production. Think they will be over 20,000 BOE’s a day in the near term because of their acquisition of ExAlta Energy. Have about a 50-50 mix. Have been focusing on the oil side because of the higher commodity price. Their Pasqua play is a great oil play and could have some very strong production numbers. | 2008-03-07 | |
| TOP PICK | 16.730 | Robert Floyd | Basically 50% light oil and 50% gas. Focused in Alberta. Can see some pretty strong cash this year. Nice acquisition. | 2008-02-29 | |
| Comment | 16.880 | Joanne A. Hruska, CFA | Some of the companies with deeper exploration targets were really hit with the Alberta Royalty Review. Rumours are that, after the Alberta election, there may be some closure on the unintended consequences. If so, companies like this may get a bit of a break. | 2008-02-22 | |
| PAST TOP PICK | 13.500 | Joseph Schachter | (A Past Top Pick Jan 23/07. Down 11.1%.) Really likes the story. About 50/50 in oil/gas. Buying out Exalta Energy (EXA-T), which will take them to about 20,000 BOE's a day compared to 8600 in 2006. Have high impact wells that are affected by the Alberta legislation. Expecting cash flow of about $3.20 at the end of 08. Very cheap. Balance sheet in good shape. Hold. | 2008-01-24 | |
| PAST TOP PICK | 14.310 | Joseph Schachter | (A Past Top Pick Jan 23/07. Down 5.5%.) 17,000 BOE's, 48% oil 52% natural gas. Likes the mix. Looking for just under 20,000 BOE's in 2008. Still a Buy. | 2007-12-19 | |
| BUY | 14.450 | Michael Smedley | With the recovery of oil/gas, this one is in a star area. Good price. | 2007-12-12 | |
| TOP PICK | 14.020 | Joanne A. Hruska, CFA | When the market turns, larger juniors will go up before smaller ones. Hurt because of Alberta's royalty review. Wonderful entry point. Very strong management. Over a million net undeveloped acres giving them years of work in very prospective areas. Relatively cheap compared to peers. She will be buying very soon. | 2007-12-05 | |
| TOP PICK | 13.850 | Joseph Schachter | 50/50 oil and gas mix. Production grew 46% in the 3rd quarter. Have a very big oil play called the Puskwa. Growing production materially. | 2007-11-15 | |
| TOP PICK | 13.950 | Robert Floyd | Just reported numbers and they looked very good. Stock has been hurt by the Alberta royalty issue and expects they will be impacted by about 9%. However, they are growing fairly aggressively. Drilling program has been very successful. Production this year will average 14,000, going up to 18,000 next year. | 2007-11-14 | |
| PAST TOP PICK | 15.760 | Joseph Schachter | (Up 6.3% since Jan. 2007)He still likes it and recommends staying with it. He likes the management. Target price is $24 in twelve months. This company is growing despite what is going on with the commodity price. | 2007-10-22 | |
| TOP PICK | 15.790 | Robert Floyd | Traded down fairly aggressively on news coming out of Alberta on royalties. Created a great buying opportunity. Reported 97% success rate in the last quarter, 32 out of 33 holes were hit. A nice mix between light oil and gas. Cash flow is moving from $2.30 to $3.05 next year. | 2007-10-12 | |
| TOP PICK | 15.040 | Joseph Schachter | Producing about 13,000 BOE's which is an increase of 40%. Thinks they will be 40% growth in 08 also. About 50/50 in commodity mix. Have 1 million acres they are working in northwest Alberta. Very cheap. | 2007-10-11 | |
| TOP PICK | 16.620 | Robert Floyd | Going for the oil on this one. Netbacks are extremely strong. Have shown some very good production growth. Strong cash flows at $2.30 this year and growing to the $3 area next year. Getting some fairly good drilling results. | 2007-09-14 | |
| TOP PICK | 16.170 | Robert Floyd | Sold some shares so the stock was down a bit. Production profile is very good. Has a nice blend between light oil and gas. Looking for production of 17,000 to 21,000 BOE's by year end. Has cash flow of roughly $2.34 moving up to $2.80. | 2007-09-06 | |
| BUY | 16.090 | Joseph Schachter | Reported their 2nd quarter results, which showed production up very materially from the year before. Has the ability to exit this year at 19,000 and maybe 23,000-24,000 next year. | 2007-08-17 | |
| PAST TOP PICK | 16.900 | Joseph Schachter | (A Top Pick June 20/06. Down 22%.) Half the company is gas. Still likes the story. Could go to 19,000 BOEs by the end of this year and 22,000-23,000 next year. | 2007-07-20 | |
| PAST TOP PICK | 17.340 | Joseph Schachter | It took them to long to get their equipment, but they are still in play and the "story is still intact".
The growth wasn't as fast the the market expected it to, which is why it is down now.
He says to stay with it.
| 2007-06-04 | |
| BUY on WEAKNESS | 16.760 | John O'Connell, CFA | Both oil and natural gas. Have some great resource plays going on. Should see some good results out of their drill programs this summer. Good price. | 2007-05-29 | |
| BUY | 17.530 | Gavin Graham | If you believe gas prices will go higher, due to a hot summer (requiring energy), hurricanes shutting down plants, and so on, it is going to pop back, because it went so low before that plants were shut down. | 2007-05-22 | |
| BUY | 17.040 | Jennifer Stevenson | Outlook continues to be very good. Have a real core area of focus in the Pasqua area. Extended the pool northwards by about 6 miles. Have good GPP in 2 sections, which they can now apply to their wells moving forward. Have great upside on the lower risk development and exploration going forward. | 2007-05-15 | |
| TOP PICK | 16.740 | Joseph Schachter | (A Top Pick June 20/06. Down 23%.) Drop in commodity prices hit them. Also had delays bringing on some production. Expecting increased production by the end of the year. | 2007-04-24 | |
| STRONG BUY | 16.810 | Chyanne Fickes | Primarily a gas play. Management is extraordinary. Great success rate in drilling. Stock has done badly because of gas prices. A great buy here. | 2007-04-17 | |
| BUY | 16.710 | Glenn MacNeill, P.Eng. | Likes management and what they have done. The Puskwa play looks very interesting, but is as yet undefined. Have 8 million acres of land. Will have good production growth, but be patient. | 2007-04-04 | |
| TOP PICK | 15.130 | Joseph Schachter | The key for them is their Calais/Dawson core area. Have been exceedingly well by the drill bit. Thinks they will average just under 16,000 BOE's a day this year. | 2007-01-23 | |
| BUY | 14.500 | Robert Toole | One of the more successful exploration companies. Had a “company maker” discovery last year. In cases such as this, a lot of the potential value gets capitalized very quickly and as the company exploits the discovery, things can go sideways. This is one of the better regarded and more successful exploration companies. Higher risk. | 2007-01-18 | |
| HOLD | 16.500 | David Cockfield | Behind their forecasts for Q3. Production down about 8%. Had pipeline and construction delays. About 12,000 barrels daily. Looks like good growth in 07. | 2006-12-07 | |
| BUY | 18.320 | Peter Hodson | Good assets. Good balance sheet. The geology team knows exactly what they're doing. This would be a longer-term focus. | 2006-11-20 | |
| BUY | 18.700 | Joseph Schachter | Big fan of this one. 3rd quarter reported 9,420 BOE’s a day, up from 8,064. On track with facilities they will bring on at the end of the year for 12 or 13 thousand BOE’s at the end of 2006. | 2006-11-15 | |
| BUY | 19.300 | Glenn MacNeill, P.Eng. | Has a great slate of drilling prospects. Has been able to grow through the drill bit. Almost 1 million net acres n the Peace River/Arch area. New discovery is quite exciting. | 2006-11-10 | |
| BUY | 17.700 | Joseph Schachter | They are the only company that is aggressively digging. They had 6 rigs going last week. However, there are some land issues. | 2006-09-29 | |
| WEAK BUY | 19.550 | Peter Hodson | Likes the management team and is willing to bet on their past execution. Have a nice oil discovery, but there is some question on the street as to how good it is.. | 2006-08-28 | |
| BUY | 19.810 | Glenn MacNeill, P.Eng. | Have a very exciting discovery. Expensive, but he feels that you will be compensated by the high growth rate that they will experience. About 40% oil, so relatively balanced. Excellent management. | 2006-08-23 | |
| BUY | 19.900 | Glenn MacNeill, P.Eng. | Their Pasqua play is very exciting. Looks like it's quite a large geographical area that the reservoir outlines. Very high growth rate. | 2006-07-19 | |
| HOLD | 20.760 | David Cockfield | Just hit a new pool with 88% oil and 12% gas with no water so it's a good well. Have lots more drilling to do. A good speculation. | 2006-07-13 | |
| TOP PICK | 21.700 | Joseph Schachter | Had some very good success in Alberta and their 1st well came on at 2000 BOE's a day and the second one, 4 miles away, came in at 1375. Company believes they have 28 locations on this play. Of their 5 rigs, 2 are dedicated to this area. Looking for a big production upside in the 4th quarter. | 2006-06-20 | |
| DON'T BUY | 28.750 | Bill Harris, CFA | Has done a phenomenal job and the stock has just exploded. Have tripped up on a few recent wells and the stock is expensive. If you're nervous about the natural gas play, you should not own this one. | 2006-06-09 | |
| BUY | 31.000 | Peter Hodson | Have continually beat production and guidance. Recently came out with negative news on “above ground” production problems. Growth should pick up. | 2006-06-06 | |
| TOP PICK | 34.210 | Glenn MacNeill, P.Eng. | The management team has got its act together. Growing production at a very high rate. Recently made a huge discovery. Expensive but you are paying for a lot of growth. | 2006-05-16 | |
| BUY | 35.680 | Peter Hodson | The company is growing so fast, it is pretty hard to keep track of what they are doing. Was producing 8000 BOE’s a day and their projection is 15,000 by the end of the year. Using a 33% expected success ratio in their drilling but have actually run at 83%. | 2006-04-20 | |
| PAST TOP PICK | 36.500 | Glenn MacNeill, P.Eng. | (A Top Pick Jan 18/06. Up 46%.) Had a huge discovery. There are several more wells they are drilling. Still likes. | 2006-04-13 | |
| PAST TOP PICK | 34.250 | Peter Hodson | (A Top Pick Nov 17/05. Up 64.4%.) This was primarily a management call. They proved themselves in the past and have always delivered. | 2006-03-27 | |
| PAST TOP PICK | 21.000 | Joseph Schachter | Galleon Energy is a past pick, starting recommending it in May 04. They are gasy weighted. Stick with it. He has owned in the past and will probably own in the future. | 2006-03-09 | |
| BUY | 29.830 | Peter Hodson | This company is an oil and gas producer. The company has grown very fast. Recommends buying. | 2006-03-09 | |
| PAST TOP PICK | 24.810 | Peter Hodson | (A Top Pick Nov 17/05. Up 16.5%.) Continues to attract attention. Good management team. | 2006-02-01 | |
| BUY | 24.560 | Gavin Graham | Has a gas exposure which is where you want to be in the oil/gas patch. | 2006-01-31 | |
| TOP PICK | 24.800 | Glenn MacNeill, P.Eng. | A higher risk, more junior company. It has the potential to double its production over the next year. Owns some excellent acreage in northwest Alberta. | 2006-01-18 | |
| BUY | 24.380 | Joseph Schachter | Has been a big fan for a long time. Current production is 9,100 with 1,800 BOE's behind pipe. He is using for his model to average 11,100 a day and do $4.80 in cash flow. | 2006-01-11 | |
| TOP PICK | 26.750 | Glenn MacNeill, P.Eng. | Has grown very quickly through the drill bit. Has a great set of drilling prospects in front of it. May possibly double their production over the next year. | 2005-12-14 | |
| TOP PICK | 22.550 | Glenn MacNeill, P.Eng. | Great growth record. Drilling prospects continue to look very good. | 2005-11-30 | |
| BUY on WEAKNESS | 21.500 | Joseph Schachter | Expected them to have 7.900 BOE's a day, but their 3rd quarter results showed 8,064. Cash flow in the quarter was $0.86, about $0.01 better than he expected. Now expecting them to exit '06 at 9,200. Next year, expects an average of 11,100 and exit at 12,500. Would buy on any weakness. | 2005-11-22 | |
| TOP PICK | 21.260 | Peter Hodson | A top notch management team. Beating production estimates. Growing by the drill bit. Some of their plays could add $2/3 a share in net asset value. Underfollowed and relatively cheap. A good 2/3 year play. | 2005-11-17 | |
| BUY | 20.160 | Peter Hodson | Really likes this company. They're just starting to get traction. Their acreage is great in the perfect area. Very high impact shots which could add $2/3 in value. The company continues to deliver and keeps beating their expectations in their production growth profile. | 2005-11-03 | |
| PAST TOP PICK | 19.700 | Joseph Schachter | (A Top Pick June 20/05. Up 55%.) Getting very good wells with production of over 1,000 barrels a day. Has reached his goal, so is now under review. | 2005-09-26 | |
Experts that have talked about Galleon Energy Inc. (A)
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