STOCKCHASE

Has potentially blown up in bankruptcy. If you own, take your losses and move on. You could also talk to a stockbroker to see if there is any “over-the-counter” trading. If so, Sell.

2010-04-16

SELL

0.145

(Market Call Minute) If you can get out, then get out.

2010-03-05

PAST TOP PICK

0.145

Andrew Cook

(A Top Pick July 2/08. Down 99.89%.) Couldn't raise their needed money. When he saw the stock is breaking down, he sold.

2009-08-20

DON'T BUY

0.145

Peter Hodson

(Market Call Minute.) A lottery ticket.

2009-08-06

PAST TOP PICK

0.145

(A Top Pick June 3/08. Down 99.59%. Has moved to a different investment firm.) Had a stop loss of $11 so would have been down 31%. Company is now bankrupt.

2009-06-19

PAST TOP PICK

0.145

Andrew Cook

(A Top Pick July 2/08. Down 99.65%.) Sold it out at about $10. Tax loss seller.

2009-06-17

SELL

0.145

Bruce Campbell

Got into difficulty so sold their assets. Can't see any upside for this.

2009-05-25

PAST TOP PICK

0.145

(A Top Pick June 3/08. Down 99.34%.) Sold his holdings last summer/fall. Company has now been acquired.

2009-05-12

PAST TOP PICK

0.145

(Top Pick Apr 4/08 Down 99.20%) Got into a debt problem. Company got blindsided by the storm. Management is trying to resurrect company. If Chrysler can come out of bankruptcy, then so can Oilexco.

2009-05-01

SELL

0.145

Robert McWhirter

(Market Call Minute) Better opportunities in other names.

2009-04-29

DON'T BUY

0.145

One of the best companies he had seen in the North Sea. Got drilling rigs and where successful but didn't hedge. Oil dropped and they had a lot of bills to pay and their banker was unable to finance them.

2009-04-09

PAST TOP PICK

0.145

(A Top Pick April 4/08. Down 99.2%.) Fabulous exploration team, which is still very keen on doing something in the North Sea. Doesn't know what the endgame is going to be.

2009-04-06

DON'T BUY

0.145

Bill Harris, CFA

Almost no value left unless some kind of a wild card comes up.

2009-04-06

PAST TOP PICK

0.145

(A Top Pick April 2/08. Down 99.2%.) Its intrinsic value is in the $2-$3 range. Has terrific properties with great growth potential of up to 100,000 BOE's a day (vs. most recent of 30,000-35,000). Was hoping somebody would come and pay fair value and arrange financing to get them back on their feet. If you own, let it go to zero, sell it for one cent and get your tax loss.

2009-03-31

SELL

0.145

Dennis Da Silva

Ran into severe problems when Royal Bank of Scotland pulled their loan. No money left for the shareholders and he is surprised that it still trades at $.11.

2009-03-26

DON'T BUY

0.145

David Driscoll

Got caught at a time when oil prices were falling and they were trying to expand their asset base. Don't expect any miracles.

2009-03-20

HOLD

0.145

Ken McCord

(Market Call Minute.) Not too sure about this stock but likes the sector.

2009-03-19

DON'T BUY

0.145

Jeff Parent B. Eng. FCSI

Wouldn't touch this one. Way too much risk.

2009-03-18

DON'T BUY

0.215

Michael Decter

Terrific assets in the North Sea. Had been a favourite for a lot of people, including him. They were well financed but with the Royal Bank of Scotland, which had a major collapse.

2009-01-28

PAST TOP PICK

0.105

(A Top Pick Oct 25/07. Down 99.6%.) Used stop losses so when it started to crumble, he exited. There is value there, but it needs a buyer. Could take some time before the situation remedies itself.

2009-01-23

Comment

0.080

Kevin O'Leary

Tragic story. Had great reserves. CEO made aggressive moves of borrowing money to exploit the opportunity right into a horrific debt market. Got into a position where Bank of Scotland was no longer able to provide funding.

2009-01-21

DON'T BUY

0.105

Was making very good progress in developing its North Sea properties but, like many others, stretched its resources to the limit. Failed to get the financing needed. Feels the game is over.

2009-01-20

DON'T BUY

0.150

Jaime Carrasco

To delisted from the TSX on Feb 9. Thinks bankruptcy filing will take place. Assets will be a great play for a bigger player to buy it from bankruptcy court.

2009-01-15

DON'T BUY

0.160

Benj Gallander

The question is, will it survive and that is very questionable. To invest in this, you have to be willing to lose everything.

2009-01-12

DON'T BUY

0.240

Lyle Stein

Wouldn't chase this one. If you're going to make an investment in an oil/gas company, you can do a lot better.

2009-01-06

DON'T BUY

0.265

David Baskin

Although they have reserves, they do not have access to any credit to exploit them.

2009-01-05

DON'T BUY

0.320

Dead money for all intents and purposes. Filed for bankruptcy protection last week.

2009-01-02

HOLD

0.285

Filed for bankruptcy protection. Desperately trying to raise money. It doesn’t look good. If you own, it’s too late to sell for tax losses so hold if you don’t have much money in it.

2008-12-31

DON'T BUY

0.890

Peter Grandich

Got into a leverage problem. The suspects that in coming months you will be better off to own major oil producers. Once oil prices gets substantially north of $50, the junior market will perk up. Suspects oil will be in a trading range until the first half of 2009.

2008-12-29

DON'T BUY

0.730

Gordon Higgins, CA, MBA

Tried to do a convertible debt issue and it got pulled. Definitely have some financial issues. Not for the faint of heart.

2008-12-22

SELL

0.800

Michael Sprung

Takeover is probably one of the only things that will pull this company out but people might wait for it to go into receivership and then go for the assets.

2008-12-19

DON'T BUY

1.100

Dennis Da Silva

Thinks they sold about a quarter of the company to get the extension on debt as they go through the sale process. Market was not happy with that. Not a fan of the North Sea.

2008-12-18

HOLD

1.900

It is unlikely that financing will be forthcoming anytime soon. Expect it will be sold for about $3 or $4.

2008-12-17

Comment

2.090

Peter Gibson

Weak on its profit characteristics. ROE level is very high but it is flat. Street expects some pretty poor numbers going forward.

2008-12-09

Comment

1.950

Ben Cheng

Recently unsuccessfully tried to do a convertible offering. This could put capital expenditures for 2009 into some jeopardy.

2008-12-08

HOLD

1.450

(Market Call Minute.) Thinks the company will survive but it's going to be a stretch on production.

2008-12-05

Comment

1.500

Ken McCord

Screens very poorly so he would want to Short this against other energy names. You could pair this up with a big cap integrated like Suncor (SU-T) Husky (HSE-T) or Imperial Oil (IMO-T). He likes this trade a lot.

2008-12-04

Comment

1.660

Fair amount of debt. Had Royal Bank of Scotland in their lending group. Hired advisers and expects it will eventually get sold. Debt is about where the asset value lies so doesn't expect a lot of upside.

2008-12-03

HOLD

1.980

Jean-Francois Tardif

(Market Call Minute.) Latest issue has created a lot of dilution.

2008-12-02

Comment

2.360

Jeff Parent B. Eng. FCSI

Had a lot of trading around the $4 to $6 area. They are hoping for a take-out but expect it would have to be $1 or $2 more before shareholders would be interested in selling.

2008-11-28

PAST TOP PICK

2.380

(A Top Pick Oct 25/07. Down 84%.) Funding concerns are a very big issue. Fundamentals remain phenomenal but they are in an old fashion liquidity squeeze. Royal Bank of Scotland refused an extension of credit and hedge funds shorted it. Need about $40 million by Jan 31.

2008-11-27

Comment

2.170

Unfortunately was tied up with a bank that was in trouble. An easing of credit and improvement in oil prices would help. Very strong junior North Sea player. You could speculate on where the oil prices will be in 12 months, which he feels should go up.

2008-11-25

Comment

2.170

Bruce Campbell

Had a convertible debenture issued but it was cancelled. Very onerous with a 15% coupon with $2.50 being the convertible price. When you have to pull an issue when it is too expensive, he would be very nervous if he were a shareholder.

2008-11-25

WAIT

2.360

Don Vialoux

(Market Call Minute.) Very strong seasonality from January to May. Watch for some stability in the stock before buying. Wait until January.

2008-11-24

DON'T BUY

2.360

Bill Harris, CFA

The problem with this company is that if oil trades below $40, it doesn't work for them. Likes the company and management. He prefers low cost producers and this does not fit in his category.

2008-11-24

SELL

1.770

Veronika Hirsch

(Market Call Minute.) Huge financial problems.

2008-11-21

DON'T BUY

1.450

Michael Simpson, CFA

Just cancelled the 15% convertible bond and common share offering and are looking at alternatives, such as selling the company. Shows the high cost of capital in finding North Sea oil. Would advise caution.

2008-11-20

DON'T BUY

1.450

John Zechner

Would be a little wary of companies that need to raise capital. Had a failed issue and they are bringing on a lot of projects and they do need capital.

2008-11-20

PAST TOP PICK

3.320

(A Top Pick Sept 11/07. Down 75%.) Announced results for the 3rd quarter and did on average about 12,000. Had maintenance on one of their platforms. 14,000 BOE's a day in July, 0 BOE’s in August and in September came on with about 20,000. Have to come up with $100 million.

2008-11-14

DON'T BUY

4.070

David Driscoll

As a junior, it was doing very well until refinancing issues came up. It will be a struggle for them in the near term.

2008-11-13

WATCH

4.000

He owns this and will be averaging down. This is a great entry point presuming you like the market. He is not buying the market today.

2008-11-12

HOLD

4.740

Fantastic assets. Expected to grow production at a high rate over the next several years and need money for financing. Had a large line of credit with the Royal Bank of Scotland, which is having some difficulty. Market will have to move beyond this credit crunch. Too late to sell and too early to buy.

2008-11-10

Comment

4.950

Peter Hodson

Great little company. Has been hit dramatically hard because of what is perceived to be a financing crisis, which is not really the case.

2008-11-07

TOP PICK

5.660

Chyanne Fickes

One of the cheapest stocks on the index today. North Sea play, Huntington had 2 wells come in recently. Proven and possible reserve will be increased by the end of the year. Cash flow in 2008 of about $800 million and 2009 $1.4 billion. Market cap $700 million and are more than able to cover capital expenditures with their cash flows.

2008-11-04

BUY

5.070

A giant junior in the North Sea. Doing brilliantly. One day, the banks will start doing business again.

2008-10-31

HOLD

5.070

Dependent on bank lines to complete their expansion plans but have very solid internal cash flows. All they have to do is drag out their drilling programs and will be able to generate the cash. Excellent assets in the North Sea. He is trying to get enough nerve to average down on his positions.

2008-10-31

BUY

4.530

Jennifer Stevenson

Biggest risk on this one is refinancing. Thinks the market has blown this out of proportion as this company has significant reserve value with growing production and cash flows coming at them every day. Stock price is reasonable. Will be more volatile but if you have a few that is more than a quarter or two it will probably work out just fine.

2008-10-30

DON'T BUY

3.780

Brendan Caldwell

Pretty tough to get financing done in any sector. His best bet is that financing will get done eventually. Not as strong on resources.

2008-10-27

HOLD

4.150

Still have some potentially funding issues. Remains to be seen if they will get a private equity infusion of some kind. While they are very profitable and have shown reserve bookings and are one of the more solid operators, it is too much of it question mark.

2008-10-22

HOLD

4.370

Jean-Francois Tardif

Lots of production. Stock dropped because oil prices are down 50% and people sold a lot of smaller mid-cap stocks. Also, access to funds from a European bank disappeared and people panicked. Trades at 1X next year's cash flow. They don't need cash.

2008-10-17

DON'T BUY

3.570

Michael Sprung

It has been crushed. It’s a north sea play, which is expensive to develop. The price advance was based on future production but oil price has come down. There are safer plays.

2008-10-16

STRONG BUY

3.570

Hap (Robert) Sneddon FCSI

Is priced at about one times next year’s cash flow. Will be buying.

2008-10-16

SELL

3.600

Jeff Parent B. Eng. FCSI

Just said "Sell"

2008-10-10

SELL ON STRENGTH

4.350

It broke support from low of Jan/Feb. It looks like the drop is over. Sell on strength and move into a better name.

2008-10-08

BUY

4.350

Don Lato

Had financing in place that got pulled a couple of days ago. They guided to about a 35,000-barrel a day exit rate. If they can finance the 2009 oil exploration program their cash flow could become equal to their current share price.

2008-10-08

BUY

4.670

Don Reed

Price of oil is a big factor. Thinks we will see $75 before $150 again for oil. Thinks it is a good thing to own. In a declining crude oil market you are better off to be into the integrateds.

2008-10-07

SELL

9.460

Ross Healy

It has not a business problem but a financial problem. This is a case where the valuations are down because it is an expensive stock.

2008-10-02

WAIT

10.450

100% oil in British north sea. Expect to continue production. Good slate of properties. Has to ride out the market.

2008-09-30

BUY

11.310

Have big production coming on in the North Sea. Potentially a $20 stock.

2008-09-26

TOP PICK

11.700

In the UK North Sea. Made a lot of great discoveries and bringing them on in the next couple of years. Well-financed. 2 semi submersible rigs that are working full-time. Doing about mid-20s right now and will be bringing on about 10,000 and will get to the 40,000s by the end of next year. Can see them getting into the 70,000/80,000 the following year.

2008-09-25

BUY

11.350

Michael Decter

Love this company. Rapidly increasing their production in the North Sea. Should be well into the $20's in the next 12 to 18 months. May very well be a takeover candidate.

2008-09-23

BUY

11.650

One of the better names. Netbacks are far greater in the north see than in Canada. Have $70, $80, $90 margins. Thinks it will continue to build out its production.

2008-09-22

BUY

11.890

Brian Acker, CA

(Market Call Minute.) Great opportunity here. Model price is $28.40.

2008-09-11

BUY

12.880

Good entry point. Looking for an increase in production from 65,000 barrels in 2010 if they get a 3rd offshore rig.

2008-09-04

BUY

13.620

Ron Meisels

Did very well, together with the oils. Will probably take a little bit of pause here. It must hold the $12-$13 level. Current levels should be buying opportunities with the idea that it goes back to test the recent highs.

2008-09-03

PAST TOP PICK

14.050

(A Top Pick May/07. Up about 50%.) North Sea. Excellent exploration play. Likes it but the market has been getting low evaluation to international plays. Undervalued. Growing their production and have a great slate of drilling prospects in front of them. Still a Buy.

2008-09-02

BUY

15.050

Peter Gibson

(Market Call Minute.) Love the stock and think it is amazing.

2008-08-29

BUY

14.690

Peter Hodson

Management had some problems before but have regained credibility and every cautious about what they are perceived to be doing. Very cheap stock that has the potential of growing very fast over the next 3 years.

2008-08-27

TOP PICK

14.410

(A Top Pick Sept 11/07. Up 2.7%.) Trading around 5X cash flow. Before the end of the year they’ll upgrade the Balmoral gas facilities. Bringing on the Shelly discovery in November. In total they should be having a 6X cash flow. Long-term core holding. 6 months out will be producing 60,000 a day.

2008-08-26

STRONG BUY

14.410

Shauna Sexsmith

Just being trashed with the junior, small international oil plays. Has tremendous growth profile. $15 operating cost, $12 finding and developing cost. In the North Sea UK, a politically stable area. Netbacks are $105 a barrel. Thanks it is a double when we get out of the current doldrums. Takeover possibility.

2008-08-26

BUY

14.310

Have done a good job in meeting production. Mark thinks that the North field Shelley will bring up production when it comes on in the last part of the 4th quarter. There is a very favourable tax regime in the North Sea.

2008-08-22

BUY

14.630

Robert Floyd

(Market Call Minute.) Doing a fairly good job in terms of their drilling.

2008-08-21

DON'T BUY

13.550

Bill Harris, CFA

Just not sure if the market is there to support this kind of stock right now. It should be worth $25 to $30 if oil can stabilize around $100 and stay north of it. Just a tiny bit too exotic.

2008-08-20

BUY

13.550

Has held up pretty well in a difficult market. Extremely powerful positioning in the North Sea with both equipment and discoveries. Production has been rising brilliantly.

2008-08-20

STRONG BUY

13.400

Michael Decter

A screaming bargain anywhere below $15. Trading at about 2X what it’s going to generate in cash flow over the next year.

2008-08-18

HOLD

13.200

Ron Meisels

Bit more negative than some of the big guys. Dropped below its 200 day moving average of $15. Next support should probably be near $13. This is very important and critical, as you don’t want to see the stock lower than that. If oils go up in September this should too.

2008-08-15

SELL

14.150

Michael Sprung

(Market Call Minute.) Disappointed a little bit on their production front. Multiples are very high.

2008-08-14

WAIT

14.750

David Driscoll

Looking very cheap at 2 or 3 times cash flow but wait

2008-08-11

BUY on WEAKNESS

15.250

Paul Thornton

One of his favourite stocks in the oil area. Much better shape than some of the others. In the short run, it may be weak but this price level is pretty good. Wait to see if you can get it a little bit cheaper.

2008-08-08

BUY

15.590

Brian Acker, CA

He has a model price of $29.33, an 80% positive differential. Balance sheet is growing like mad.

2008-08-06

HOLD

15.650

David Burrows

(Market Call Minute.) Has pulled back to the breakout point. If it breaks another $1 or $2 you want to be gone.

2008-08-05

HOLD

16.690

Oil production in the North Sea. Will be doubling production this year and doubling again over the next few years. Ideally placed and equipped with rigs.

2008-08-01

BUY

16.690

Just started buying. Increase in production over the next 12 months will be substantial. Stock hasn't done much, but think it is ready to move along.

2008-08-01

BUY

15.450

Had a very nice discovery with Montney. Partners are BG Group, BP (BP-N) and Hess (HES-N) so rigs are available. Could be over 200 million barrels of oil equivalent in play. Currently doing about 23,000 BOEs a day and expect them to exit the year at 40,000, over 60,000 next year and 100,000 the following year.

2008-07-25

HOLD

15.370

Robert Floyd

(Market Call Minute.) Has been reporting some very good drill results. Target is certainly higher.

2008-07-23

PAST TOP PICK

15.980

(A Top Pick May 9/07. Up 75%.) Although there is good future for the company, he would be a seller at this point. North Sea producer and has a number of rigs locked up. Buy on weakness, anything below $15 or $14.

2008-07-18

BUY

16.270

A pure play on the North Sea. Easily a buying opportunity.

2008-07-16

BUY

17.570

David Burrows

Fits into the camp of the companies that are able to raise their production level and resources. Have a lot of service equipment tied up. A good company to own.

2008-07-11

BUY

16.300