| PAST TOP PICK | 44.500 | Veronika Hirsch | (A Top Pick Oct 31/07. Up 3.5%.) Sold her holdings. Investors are nervous about their holdings in the oil sands and whether it is going to work or not. | 2008-07-17 | |
| TOP PICK | 50.730 | Neil Wickham | Rapidly rising production profile and steadily rising reserves. Good diversification with 1) the Thai process, 2) the Bakken field in Saskatchewan and 3) the 76.5% interest in Petrominerales (PMG-T). | 2008-07-14 | |
| BUY | 51.750 | Jennifer Stevenson | Have the Thai upgrading technology in the oil sands. She likes to play upgrading technologies as a portfolio in order to spread the risk. These would include Opti (OPC-T) and Petrobank (PBG-T) and Ivanhoe (IE-T). | 2008-06-19 | |
| HOLD | 52.430 | John Stephenson | Their new technology Thai appears to be proving out. Until there is some clarity around the new process he would treat it as a Hold. Colombia holdings are doing really well. Along with their Saskatchewan Bakken play. | 2008-06-16 | |
| DON'T BUY | 54.000 | Brian Acker, CA | Earnings have been coming up a bit. Mean estimate is $3 with next year's at $3.74. His model price is $52.34, which is a -3% or 4%. | 2008-06-11 | |
| DON'T BUY | 55.680 | Glenn MacNeill, P.Eng. | A story that moved very early on in the energy picture. Driven by their technology in heavy oil, the Bakken play that they had a substantial position in and their Colombia assets. Has now plateaued out. Fully priced. | 2008-06-09 | |
| DON'T BUY | 54.670 | Stephen Carlin | Thai technology that, if it works, will revolutionize the oil industry. Still very much in experiment mode. Had a lot of good news baked into the stock price so was expensive. Has been a lot of profit taking. Would look interesting in the low $40's. | 2008-06-03 | |
| HOLD | 59.560 | Peter Hodson | Has been selling a bit. Likes the management team and what the company has done. | 2008-05-26 | |
| DON'T BUY | 58.580 | David Burrows | Can expect more pullbacks. In the very short run energy stocks are a bit tired. One client has licensed the technology but market still wants to be shown more. | 2008-05-22 | |
| BUY | 55.460 | Derek Webb, CFA | One of the few who stocks that hasn’t taken out its old high. Numbers are accelerating in this name like everything else. Loves the name. | 2008-05-16 | |
| BUY | 56.830 | Jennifer Stevenson | Had a few pullbacks. Netbacks from their Saskatchewan production are spectacular. A lot of money from the market is being afforded for their technology that, if it proves out, will be quite revolutionary for extraction of oil from the oil sands. Good long-term hold. | 2008-05-13 | |
| Comment | 51.350 | Jeff Parent | Chart indicates it won't go up that much. Sideways motion for the next 3 or 4 months. Because of the volatility with the dip in January and uptick in February plays well into a covered call strategy. | 2008-05-02 | |
| HOLD | 48.580 | David Cockfield | Have some excellent properties in Colombia that gave the stock a boost. He is always a little dubious about offshore stuff. They do have some assets in the Bakken play in Saskatchewan, which is looking very successful as well as Montana and Wyoming. Also have the White Sands, which is heavy oil. | 2008-04-24 | |
| BUY | 53.060 | Alex Ruus | Has really solid technical support as well as fundamental value support. If their Thai technology works out, the stock could go much higher. In the past, fire flooding hasn't worked on a sustained basis but they have come up with a new technique. Initial results are extremely encouraging. Also have assets in the Bakken area of Saskatchewan as well as some in Colombia. | 2008-04-22 | |
| TOP PICK | 53.500 | Michael Decter | In the Bakken sector in Saskatchewan. Also likes their Thai technology and their White Sands play in the oil sands. Own the majority share of Petrominerales (PMG-T) in Latin America, which hit a bit of water but this is surmountable. | 2008-04-16 | |
| DON'T BUY | 50.720 | Michael Sprung | Fluctuations in the price are probably due to questions on their new Thai technology. Feels he can find more attractively priced stocks in the energy sector. | 2008-04-15 | |
| Comment | 45.700 | Gavin Graham | Has the Bakken shale in Saskatchewan, which everyone is getting excited about. They also have the toe to heel air injection, which is the environmentally friendly way of getting oil. | 2008-04-09 | |
| BUY | 46.440 | Hugh Cleland, CFA | Buyers at the $40 level. The energy stock with the biggest upside over the next 5-10 years. Really like it, expect it to be a core position in the next few years. | 2008-03-31 | |
| WEAK BUY | 47.500 | Peter Hodson | Bought some this morning. Like the management team. Stock has come down over the past week, because of a poor analysis. A great asset company, with great technologies. | 2008-03-17 | |
| WEAK BUY | 52.400 | Glenn MacNeill, P.Eng. | Has the White Sands oil project for heavy oil, which looks very interesting. Some risks associated with it but he is positive on it. Has some Bakken play in Saskatchewan that looks very interesting. Also have a big interest in PetroMinerales (PMG-T). A very expensive stock as the market has chosen to give a high valuation to the White Sands project. He feels there is a lot of risk there. | 2008-03-07 | |
| BUY on WEAKNESS | 54.630 | Hugh Cleland, CFA | Very volatile. He will trim a little bit when it gets up in the $55 and higher range and buys on weakness. | 2008-03-04 | |
| DON'T BUY | 57.160 | John O'Connell, CFA | This is a stock that can be quite volatile with a lot of potential upside if their technology works. Has done exceptionally well compared to a lot of other names. If you own, consider moving into an integrated play such as Husky Energy (HSE-T), which pays 3.5% and is not near its highs. Could also consider a natural gas name. | 2008-03-03 | |
| BUY | 57.160 | David Burrows | Very strong cash flow. Trading at about 7/8X cash flow. This puts no value on their oil sands assets or their Thai process, which may or may not work. | 2008-03-03 | |
| BUY | 58.650 | Dennis Dasilva | This is a core position with his oil sands strategy. Have a 76% interest in Petrominerales (PMG-T), the Bakken play in Saskatchewan as well as their oil sands division with their Thai technology. Doesn't think the market is pricing in the Thai technology. | 2008-02-25 | |
| Comment | 57.870 | Michael Smedley | Has done very well and it might be prudent to take some money off the table if you own. It might be the start of decay because it is firing on so many cylinders such as oil sands at low cost, Thai technology and control of Petrominerales (PMG-T). Also into different plays in Saskatchewan. | 2008-02-21 | |
| WATCH | 55.050 | Kenneth P. Norquay, CMT | 2007 was kind of a topping year for the stock market. This one doesn't know what a top means and it does not look like a top to him. Had a new high earlier in the year, sharp selloff and a sharp rebound. He can see 2 entry points. 1) Somewhere around this year's low and 2) if it breaks out above the old high. He'd rather buy it at $56 than the current price. Would also feel a lot more comfortable if it went back down to its low. | 2008-02-12 | |
| Comment | 55.000 | Alex Ruus | One of the more exciting fireflood results. Also have a 77% ownership in Petrominerales (PMG-T). Also one of the 2 prominent players in the Bakkens area in Saskatchewan. Good growth coming out of all 3 areas. Probably in a trading range in the next little while. | 2008-02-04 | |
| BUY | 45.320 | Hugh Cleland, CFA | In the low and below $40 it is a very good Buy. Have a key position in Petrominerales (PMG-T) in Colombia and every $1 is a $1 in this stock. Also has a Bakkens play in southern Saskatchewan. There is also the IP play on their Thai technology. | 2008-01-23 | |
| HOLD | 45.630 | David Burrows | One of the best performing energy stocks on the TSX. Pick your spot where you want to exit and be disciplined about it. Wouldn't want to see it trade much below $43/$44. | 2008-01-18 | |
| DON'T BUY | 49.130 | Bill Harris | Has done a phenomenal job in light oil assets in Western Canada. The Bakkens play in southern Saskatchewan is the “in” place to be. Incredible volumes coming on. Also have a key position in Petrominerales (PMG-T) in Colombia that just keeps going straight up. Also has a wild-card valuation with their oil sand technology, Thai, which looks like it works but doesn't know, on a full production scale, if it does work. Would love to see it at $25-$30. | 2008-01-17 | |
| Comment | 51.800 | Glenn MacNeill, P.Eng. | The White Sands project looks like it is making good progress. There is still some risk on this, but it is becoming less and less. He worries most about the air breakthrough, a fireflood project. Petrominerales (PMG-T) Colombian wells look very interesting. Also have some exposure to the Bakken play in Saskatchewan. Good management. | 2008-01-15 | |
| BUY | 57.400 | Hugh Cleland, CFA | Have a patented process for improving recovery in heavy oil reservoirs. Will be extremely valuable if they can license it to some of the global large companies. | 2007-12-27 | |
| BUY | 55.100 | Alex Ruus | Has 77% ownership in Petrominerales (PMG-T) plus you get access to the fire flooding technology. This story has a lot longer to run and if it is as good as he thinks it is, it could be a real winner over the next year. | 2007-12-13 | |
| BUY | 53.990 | Michael Smedley | Owns 77% of Petrominerales (PNG-T). Might be considered the oil stock of the decade. Has a fabulous process in the Bakken fields. They also have the Thai process, which seems to be working out very well. | 2007-12-12 | |
| BUY | 52.610 | John O'Connell, CFA | Has some really interesting technology, which they are leveraging into joint ventures. A smart way to grow the business. Has moved a lot, so you need to be cautious. | 2007-12-10 | |
| TOP PICK | 50.880 | Michael Smedley | Has a fabulous process in the Bakken fields. They also have the Thai process, which they have licensed out now and he feels there will be more licensing. They also control Petrominerales (PMG-T). It might finish up being the stock of the decade in the sector. | 2007-11-27 | |
| BUY | 52.600 | Peter Hodson | Acquiring Peerless Energy (PRY.A-T), which is a good deal for them. Feels the Thai technology works and have signed their first licensing deal in North America. The next step is to go either to the US or global. Not only will they have production growth, but cheques coming in the door from their technology. | 2007-11-26 | |
| WEAK BUY | 54.100 | Gavin Graham | Has been the big success. | 2007-11-19 | |
| TOP PICK | 48.140 | Michael Decter | Likes their oil sands play and their Thai technology, which uses less natural gas and water. Starting to license this. Has a minority interest in Petrominerales (PMG-T), which is having great drilling success in South America. | 2007-11-12 | |
| TOP PICK | 48.140 | John Stephenson | Have the Thai process where the recovery rate for heavy oil is much higher than the traditional SAG process. Just entered a licensing agreement with Duvernay (DDV-T). Will not be hit with the Alberta royalty tax. | 2007-11-12 | |
| TOP PICK | 46.980 | Veronika Hirsch | (Top Pick Feb 7/07. Up 121.4%.) Pretty much on time and on schedule. Stock should appreciate, as they get closer to production. May be spinning off one of their subsidiaries. Try to buy on a Dip. | 2007-10-31 | |
| BUY | 46.980 | Michael Smedley | A big part of this is Petrominerales (PMG-T), which is doing brilliant things. Has the tremendous Thai process for extracting oil from the oil sands. | 2007-10-31 | |
| BUY | 40.350 | David Burrows | Likes their exposure outside of Canada. He expects the strong market for energy will continue. (They own Petrominerales (PMG-T)). | 2007-10-04 | |
| HOLD | 38.600 | Chyanne Fickes | This is a stock where the fundamentals keep changing. You're getting more of a valuation for their Thai technology. The Street has not given full valuation for their technology. Their company Petrominerales (PMG-T) in Colombia has been a real moneymaker for them. Pretty much fully valued. | 2007-10-01 | |
| PARTIAL BUY | 35.200 | John Stephenson | Have a patent for a new process called THAI for the extraction of oil from the oil sands. So far, the recoverable reserve is on the basis of 70% to 80% versus SAG at 30% to 35%. Have 3 test wells running. Expect you will see real visibility in a year. Consider buying a partial amount. Good risk/reward. | 2007-09-26 | |
| BUY | 33.060 | Peter Hodson | Great company, PMG (Columbian subsidiary) hitting well-after-well. Way more upside in PMG, but PBG is safer. | 2007-09-20 | |
| VAGUE | 35.230 | Jean-Francois Tardif | Price of oil doing very well. A lot of confidence in the company. They have a massive amount of oil in the ground. If their new system works they will be able to recover oil more efficiently than others. A risky situation but upside is significant. | 2007-09-17 | |
| PARTIAL BUY | 34.090 | Gordon Higgins, CA, MBA, CFA | Have a technology that injects a fire under the ground to heat up the oil sands allowing them to pull the oil out of the bottom. If it works, it is an exceptional buy. Has worked on a trial basis, but not on a greater scale, soul would advise caution. | 2007-09-12 | |
| BUY | 32.750 | Hugh Cleland, CFA | Pricing in a lot of future because of their fireflood technology. It will be volatile. Fireflood technology is passing milestone after milestone, test after test and could be a real world game changer. (See his partner Alex Russ comments Sept 4/07.) Balk | 2007-09-07 | |
| HOLD | 33.140 | Robert Floyd | Has done very well, especially with the backdrop of a very strong oil price. He is looking for those unit trusts that have a focal point on oil to continue to push higher. Cash flows and distributions are going to be there. | 2007-09-06 | |
| BUY | 32.820 | Alex Ruus | A great company. Their story is about their improvement in fire flooding, an enhanced oil recovery system in the oil sands. Have had promising results. Could be world-class technology in 5-10 years the way he sees it being played out. | 2007-09-04 | |
| Comment | 31.230 | Michael Sprung | Has done extremely well over the last year. They are into very high impact plays. Analysts’ earnings estimates are all over the map. Not comfortable putting a valuation on this company. Speculative. | 2007-08-31 | |
| BUY | 29.100 | Peter Hodson | Bought some today. Has a great technology that can be applied world wide. | 2007-08-17 | |
| Comment | 33.240 | Michael Smedley | One of the 2 companies in the oil sands that are using new processes, which seem to be working very well. If you are an aggressive, you can buy, but if you are nervous you could take some profits. He is not going to. | 2007-08-03 | |
| TOP PICK | 29.240 | Veronika Hirsch | Their largest value is concentrated in the same area as Western Oil Sands (WTO-T), which was just acquired. Doing well in their Bakken play. | 2007-08-01 | |
| BUY | 29.250 | Jeff Parent | Good entry point. Chart shows a very nice, almost unbroken trend with a couple of consolidation periods. It makes new highs each time. If using a stop/loss, $25 would be the 1st one (50 day moving average) and then $22.80 (a point of high trading volume.) | 2007-07-06 | |
| BUY | 29.000 | Chyanne Fickes | Light oil in Saskatchewan, heavy oil in Columbia and a new technology Thai for the oil sands. Thai technology is extremely attractive. | 2007-07-05 | |
| BUY | 24.810 | Michael Smedley | Has had an exciting move. Has a new process for extracting oil of the oil sands. | 2007-05-25 | |
| WEAK BUY | 23.470 | Jennifer Stevenson | With this one, you're getting a fully priced oil sands play currently, but on top of that you have their Thai technology. This is really a bet on if you want to place a bet on their technology. | 2007-05-15 | |
| BUY | 24.050 | Glenn MacNeill, P.Eng. | Has a fireflood project (Thai) in Whitesands, which is performing reasonably well. Also have properties in the Bakken play in SE Saskatchewan. Thinks the Thai process will work. | 2007-05-09 | |
| BUY | 24.260 | Alex Ruus | Likes their fire-flooding technology, which looks very promising. Can parlay this into other heavy oil areas or license the technology for royalties. | 2007-05-07 | |
| BUY | 22.810 | Michael Smedley | Have a new technology, using limited gas, for extracting oil from the oil sands, which is working. Can see no reason why it shouldn't go higher. | 2007-05-01 | |
| HOLD | 23.200 | Robert Floyd | Expects to see valuations start to creep up on oil/gas stocks. | 2007-04-19 | |
| TOP PICK | 24.250 | Veronika Hirsch | A name you can tuck away and be incredibly thrilled 5 years from now. New technology they are perfecting for the oil sands. So far ahead of schedule on production. Have issues, but mainly tweaking the technology. Expect they will go into joint ventures using the technology eventually. | 2007-04-18 | |
| DON'T BUY | 24.800 | Dennis Dasilva | Using their new technology for their SAGD project. Initial indications seem to be positive. He has taken other routes to exposure to SAGD projects. Would like to see them a little more focused on their oil sands project. | 2007-04-05 | |
| BUY | 22.800 | Hugh Cleland, CFA | Have very interesting technology which allows them to extract reserves which were previously not extractable. Not without risk, but he likes it. | 2007-03-26 | |
| Comment | 22.920 | Jean-Francois Tardif | An oil sands story. They have different way of extracting the oil. The reaction of the stock indicates they are doing very well. They have no earnings. If they are successful, the potential of the stock is very large. | 2007-03-13 | |
| BUY | 24.280 | Peter Hodson | Has unique technology called Thai, which he finds intriguing. Has had exceptional market price that has outperformed the group. Upside is very big if it works. | 2007-03-12 | |
| DON'T BUY | 24.900 | Brian Acker, CA | His model price is $15.18, a negative 38% differential. | 2007-03-08 | |
| BUY | 23.670 | Alex Ruus | Unique fire-flooding technique called Thai. Initial results of the 2 test wells are very encouraging. If the 3rd pair comes on as well, it will add push behind the stock. | 2007-03-01 | |
| BUY | 24.450 | Michael Decter | Feels their technology is scalable. Plans to hold for the long haul. Could have some volatility. | 2007-02-26 | |
| PARTIAL BUY | 23.340 | Michael Smedley | Its new process has minimal gas usage and the bitumen is flowing very well. They can also sell the technology. He would do a partial buy. You might also consider Opti (OPC-T), which also has a new process, on a much bigger scale. | 2007-02-22 | |
| BUY | 22.760 | Peter Hodson | He is a believer in their high technology for extracting heavy oil. The market is now starting to believe this also. | 2007-02-19 | |
| DON'T BUY | 22.460 | Stephen Carlin | Very interesting company with their new technology for accessing heavy oil. A concept stock and are still going through the teething pains. A very expensive stock from a valuation perspective. Will take time. | 2007-02-14 | |
| TOP PICK | 20.680 | Veronika Hirsch | Oil sands play. Expecting to see more acquisitions in that sector. A strategic area. Speculative as they have new technology for accessing heavy oil that would allow them lower operating and capital costs. | 2007-02-07 | |
| BUY | 16.540 | Michael Decter | Have new technology, Thai, to get heavy oil out of the ground. Prospects are good over the next 18 to 24 months. | 2007-01-18 | |
| BUY | 17.850 | Glenn MacNeill, P.Eng. | Just announced that they are expanding their White Sands project using their new technology “THAI”. There's a lot of further testing that has to be done on this. Looking very promising. If it's applicable to other companies, it will be probably sold to them on a royalty basis. | 2007-01-16 | |
| WEAK BUY | 15.250 | Jean-Francois Tardif | Oil/gas play, mostly oil. Have new technology to get heavy oil out of the ground. It will take a bit of time to prove it 100%, but if it works, the company will be worth a lot more. High potential, and high risk. Had such a good run in 2006 it may be little rich. | 2007-01-10 | |
| STRONG BUY | 15.910 | Alex Ruus | Likes this stock a lot. Underlying fundamentals are pretty good. They have a unique fire-flooding technology for the recovery of heavy oil. Initial trials have been quite good. | 2007-01-04 | |
| DON'T BUY | 17.240 | Jeff Parent | Has been going sideways. Critical points are $14.20 and $17.63. There has been a lot of volume traded between those levels. If it can break up above, it will probably do quite well but his feeling is this might not see huge returns. A volatile stock. | 2007-01-02 | |
| BUY | 18.300 | Peter Hodson | Likes what they’ve done and the White Sands development. Oil sector is suffering right now from a bit of sector rotation. Good management. Spun out their Columbia assets and are developing the Thai project. | 2006-12-28 | |
| BUY | 17.880 | Hugh Cleland, CFA | Has technology that takes advantage of poor producing reservoirs to get more from them. It looks like the technology is working, but not fully proven for production purposes. | 2006-12-14 | |
| BUY | 17.000 | Alex Ruus | Levered to heavy oil. An oil sands producer with some cutting edge technology. Also own a big chunk of Petrominerales, a Colombian oil/gas producer. | 2006-11-22 | |
| BUY | 17.000 | Michael Smedley | Using a new technology, Thai, in their Whitesands project. This could be a real winner as it is the first new process. | 2006-11-22 | |
| DON'T BUY | 15.670 | Bill Harris | Have new technology for oil sands and if it works, it will revolutionize the industry. This is an expensive stock and the price will go all over the place. | 2006-11-20 | |
| Comment | 16.750 | Gordon Higgins, CA, MBA, CFA | Have a new technology to get trapped oil out of the ground. It is unproven as yet. If it works, the stock will go significantly higher. If it doesn’t, it is more than fully valued. | 2006-10-12 | |
| DON'T BUY | 13.210 | John O'Connell, CFA | There is a big shift in preferences for drinks. Would prefer a company that has bottled water. | 2006-10-03 | |
| PAST TOP PICK | 11.640 | Michael Smedley | (A Top Pick Aug 11/05. Up 67.9%.) Have got their technology working, so keep your fingers crossed. Haven't checked on it in the last few days. | 2006-09-21 | |
| DON'T BUY | 14.470 | Gavin Graham | Doesn't own the stock, but owns the bonds. Stock has gone nowhere over the last year. Have a pilot project in place, but it still has to be commercialized and until that happens, it will be dead money. | 2006-09-06 | |
| HOLD | 15.000 | Paul Gardner, CFA | As long as costs don't get out of align, he wouldn't be surprised if this continues to go higher. Not cheap at this point. | 2006-09-05 | |
| PAST TOP PICK | 15.300 | Peter Hodson | (A Top Pick June 6/06. Down 12%.) They are waiting for results from their White Sands project. Have a new technology for heavy oil. Probably 2 months to find out if the new technology works. Not buying but is holding. | 2006-08-28 | |
| DON'T BUY | 14.620 | Glenn MacNeill, P.Eng. | Their White Fire project uses fire inside a reservoir to heat up the reservoir to help right down the bitumen and then produce it out of another well. Looks interesting, but very high risk. | 2006-07-19 | |
| TOP PICK | 15.760 | Peter Hodson | Heavy oil assets in Alberta as well as Colombian assets that they just did a spin out on. They have a technology play the increases recovery of heavy oil. They'll know if it works in 6/8 weeks. | 2006-07-11 | |
| HOLD | 15.500 | John Stephenson | Being acquired by Penn West Energy (PWT.UN-T). Likes both of these companies is independent names and the merger will do quite well. | 2006-07-10 | |
| TOP PICK | 17.300 | Peter Hodson | Have Colombia assets and oil sands with technology to improve heavy oil recovery. Well-financed. Excellent management. | 2006-06-06 | |
| WAIT | 13.900 | Glenn MacNeill, P.Eng. | Has assets in Alberta and Colombia. Have new technology to take heavy oil out of the ground. Looks very interesting> If it is half as good as they say, it will be a real revolution. A “wait and see”stock. | 2006-04-13 | |
| DON'T BUY | 14.100 | Peter Brieger | A great stock. Very expensive on a price to cash flow basis. Would look at it below $10. | 2006-04-03 | |
| WAIT | 13.800 | Michael Smedley | A three sided project. It's got Colombia light sweet crude, interesting processes its going to try out in the oil sands. Highly speculative so would buy on a 20/30% correction. | 2006-03-29 | |
| BUY | 13.850 | John Stephenson | Has a very clean balance sheet with low debt levels. It has the lowest decline rate of natural gas. Has long lived reserves. Good dividend. | 2006-03-22 | |
| BUY | 15.450 | Paul Harris, CFA | Technology sounds interesting and is environmentally friendly. The stock was hurt due to some international assets. Over the next 2 to 3 years will go to $100. They own it through some of the company's debt. | 2006-03-18 | |
Experts that have talked about Petrobank Energy and Resources
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