STOCKCHASE

Being acquired by Daylight Energy (DAY.UN-T). If you own, take the shares rather than the cash. Daylight has put together a beautiful spread of land in Alberta and using the multistage fraqing technology they have successfully used elsewhere.

2009-09-14

STRONG BUY

5.250

Andrew McCreath

Some interesting drilling prospects. Far too cheap to not be owned. Trigger to sell is when they get drilling success. If they keep delivering on a quarterly basis, then valuations should tend toward peer group average.

2009-08-18

HOLD

5.350

Laura Lau

Has been a value trap. Very cheap. What are they going to do with all the money they have? Should've made acquisitions last year. Trying to drill their biggest play in the Pembina Nisku formation but cannot drill because H2S levels have been too high.

2009-08-14

BUY

4.850

Peter Hodson

Very cheap gas company. Didn't participate in the big upswing. Was disappointing over the last couple of years. Debt is okay and production is okay. Worth owning because it is so cheap.

2009-08-06

HOLD

4.390

Laura Lau

(Market Call Minute.) Very, very cheap stock. Fantastic balance sheet but it is very tough to see how they are going to grow.

2009-06-30

HOLD

4.290

Doesn't have significant enough to move the needle in any major way.

2009-06-24

SELL

4.230

Robert McWhirter

Fairly levered to natural gas. In the bottom 10% of his database. Made $.87 in earnings last year but forecasted to lose $1.22 for 2009.

2009-06-22

SELL

4.880

Jennifer Stevenson

(Market Call Minute.) Oily but hasn't done anything. Balance sheet is clean and they have lots of cash and has everything going for it but the market has not rewarded it and you can get more traction elsewhere.

2009-06-01

BUY

5.680

Very little debt. Diversified into another area. Valuations are cheap, almost a top pick. They recently drilled two dry holes.

2009-04-15

SELL

4.100

Little bit of light oil, which is nice, but hard to see a catalyst for this. Not big enough to be attractive as a takeover.

2009-03-06

BUY

4.450

Peter Hodson

(Market Call Minute.) Likes the management team. Has been decimated because of turnover debt situation. Bank has cut back the credit line but he thinks the management will pull this off.

2009-02-12

DON'T BUY

12.600

Last 6 months they have had some management changes that he feels are positive. Very high quality slate of drilling prospects. Will be heavily penalized by the royalty changes in Alberta. A “wait and see” stock at the moment.

2008-07-18

TOP PICK

14.100

Well-regarded management, starting to turn the story around. Multiples are unbelievably low. Catalyst is new management.

2008-06-23

BUY

13.080

Jennifer Stevenson

Just came out with their Q1 and shot the lights out. Probably the cheapest 20,000 barrels of oil a day you are going to find. Part of the overhang has been that they went in for quite some time without a president. Also went through period where it was difficult for them to get licenses, as most of the oil they produce is sour. Trading at 2.5X cash flow.

2008-05-13

HOLD

10.220

Penalized really hard with the Alberta royalty review. Recent changes will not affect them. She can calculate an NAV that is a little higher than today's price. Initial indications on the new president is that he is strong. If they can keep production levels up in Q2 there might be renewed interest in the company. Small to medium chance of a bounce.

2008-04-14

PAST TOP PICK

11.700

(A Top Pick Apr 4/07. Down 14%.) Has a complexity of high-volume oil wells and the Alberta government changed the royalties by as much as 50%. Many of their locations became uncompetitive. Had some positive management changes. Treat as a Hold. It could get better. Wait for the government’s review.

2008-03-07

TOP PICK

11.720

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. Trades at less than 3X price to cash flow and less than 1X debt to cash flow, which is cheap. Had some booming wells in 2006/2007. New management is well regarded.

2008-02-22

BUY

8.140

Was decimated because of the Alberta royalty review. The stock price more than reflects the amount they are going to be able to invest next year as the cash flow will not be as great. Because it has come off so much, she would buy at these levels.

2007-12-05

BUY on WEAKNESS

13.030

Jennifer Stevenson

Currently does not have a CEO. Have a very good oil play in the Leduc.

2007-08-01

WEAK BUY

15.890

Gas will outperform. But long term oil will be stronger. Would recommend ddv-t over this.

2007-06-06

BUY

13.200

A good level to buy. Light oil focused.

2007-04-30

TOP PICK

13.730

Dominates West Pembina area. Very complicated reservoirs plus sour gas, which needs approvals from landholders. Good drilling prospects ahead of them. Expect production to go from under 12,000 barrels a day last year, to 21,000 this year and 26,500 next year. Undervalued.

2007-04-04

HOLD

12.080

They are in the Nisku play that is very tricky. Scattered pockets of oil that the majors missed. Just had to shut in more production. A populated area, so if you leak sulfurous stuff, you're in deep trouble. Have the assets and some great drilling prospects.

2007-03-15

BUY

16.380

Relatively undervalued. Drilling in the West Pembina area, which are very prolific wells which has pushed their production up dramatically. The wells are sour, so they have to be very careful. High-risk/high reward. Very good value.

2007-02-16

BUY

15.720

Peter Brieger

One of the cheapest in the intermediate oil/gas space. Prefers Rider Resources (RRZ-T), which is cheaper on a price to cash flow basis.

2007-01-15

HOLD

15.750

Have continued to have problems. Gas has sulphur content in it. Missed their production objectives again. Drilling into complex structures. Light oil. Has the potential.

2006-12-07

PAST TOP PICK

16.390

(A Top Pick Oct 20/05. Down 21.2%.) Has been a disappointment, but still has high hopes for it, Has a great slate of drilling prospects. Recommended Buy.

2006-11-10

BUY

16.760

Have some excellent prospects to drill. Has a lot of potential.

2006-10-05

PAST TOP PICK

17.740

(A Top Pick Oct 20/05. Down 18.6%.) Have a great slate of prospects in front of them. Have had trouble getting drilling done on time because of safety concerns. Excellent wells that they are drilling.

2006-09-08

BUY

18.150

One of his favourites. Made a discovery of some deep reserves in the West Pemina area. They control a lot of the land in that area. Have a large number of drilling locations. The wells are producing big volumes. High growth potential. Expensive, but you have to pay for the growth.

2006-08-23

PAST TOP PICK

19.900

(A Top Pick Apr 13/06. Down 16%.) Has a lot of oil drilling prospects in the West Pembina area. Recently merged with Kick Energy that gives them a good slate of properties. One of the big concerns is that they continue to have trouble getting drilling licences. Still likes.

2006-06-16

BUY

18.100

Oil levered.

2006-05-19

HOLD

19.180

Have some huge opportunities in drilling. Recent stock price weakness has been a disappointment. Permitting, which has been going on for months and months, has slowed them down. Ran into some sulphur type problems. Will give them another 6 weeks before selling.Have some huge opportunities in drilling. Recent stock price weakness has been a disappointment. Permitting, which has been going on for months and months, has slowed them down. Ran into some sulphur type problems. Will give them another 6 weeks before selling.

2006-05-15

TOP PICK

23.250

Higher risk/higher reward. Disappointed and lust in the 4th quarter when it wasn't able to reach the production numbers that was expected. Drilling in a tricky area that has sour gas. Geologically it is very exciting.

2006-04-13

BUY

22.400

It has a great light oil leverage. Clean balance sheet. Expect to see gas prices considerably higher year or two out.

2006-03-22

BUY

23.160

Michael Smedley

In the the Nisku layer in the Pembina area. It is capable of running well from here.

2006-01-19

DON'T BUY

20.700

Was surprised when it dropped after making their acquisition. The problem is, they are in to the Pembina Misku play and they haven't handled their drilling of sulphurous oil. They are not getting licensing

2005-12-30

TOP PICK

22.300

Has 200,000 net acres. It's expanding its production by about 120% next year which is considerably higher than any of its peers. Relatively cheap. 70% weighted to light oil.

2005-12-01

BUY

22.000

Has a huge slate of about 60 drilling prospects. They need all their cash flow in order to drill all those wells, so don't expect they will be trusting any time in the near furture. If they get a hit, the wells are very prolific.

2005-11-30

BUY

21.490

Peter Hodson

Good management. Made a recent acquisition which consolidated its area play. Not the cheapest stock around, but it's been public for less than a year. Have to give a little bit more time.

2005-11-03

TOP PICK

20.750

Have a great portfolio of drilling prospects in front of them where they can materially increase their production over the next year. Have a large acreage position in a very hot play in Alberta called the West Pembina Nisku area.

2005-10-20

BUY

22.250

Hasn't done that badly. Had some licensing problems in their Nisku play. Have some very good properties.

2005-10-12

BUY

21.700

60 drilling locations. If successful in them the company will grow quickly. Excellent slate of exploration prospects ahead of them.

2005-09-02

TOP PICK

22.700

Has a great land slate. A number of drilling locations in a very hot area. Have about 60 locations. Expecting great growth.

2005-08-15

BUY

21.100

The combination of this company and Vaquero in the Pembina area are very positive. Thinks it will do well.

2005-07-28

TOP PICK

19.280

The best slate of drilling prospects in front of them than he's seen in a long time. Have 60 locations that look very interesting. Some wells that they have already hit tend to be very prolific.

2005-06-07

BUY

19.690

Michael Smedley

Not many shares out. Just merged with Vaquero which has very important assets along side this company. Well worth watching.

2005-04-06

BUY

16.480