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| Dean Orrico of Middlefield Capital Corp. |
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| PAST TOP PICK | Bonavista Energy Corp | BNP-T | 28.150 | (A Top Pick Jan 20/10. Up 27.99%.) Still likes. | 2010-12-09 | ||
| TOP PICK | Celtic Exploration Ltd. | CLT-T | 17.650 | Gas weighted and focused in Canada, mainly Alberta. Exposure to the Montne. 18%-19% owned by management. Low cost producer and relatively low debt. Well positioned to withstand lower gas prices but huge leverage to higher gas prices. | 2010-12-09 | ||
| BUY | Canadian Oil Sands | COS-T | 24.700 | Going from a $2 dividend to an $0.80 dividend so is being recycled out of yield oriented hands to more value oriented, which is pretty much in line with a composite on the TSX. Loves the asset. | 2010-12-09 | ||
| Comment | Chevron Texaco | CVX-N | 86.650 | Looking at big integrateds, there are some good quality plays in Canada so he doesn’t focus on this. Has so many issues that may impact so prefers Canadian that he can concentrate on. | 2010-12-09 | ||
| Comment | Enerplus Corp | ERF-T | 29.760 | Converting to a Corp but also changing the business by selling longer life oil sands play and redeploying capital into the Marcellus. Has given him some concern. Will continue to pay out a high level of income | 2010-12-09 | ||
| BUY | Nuvista Energy Ltd | NVA-T | 9.380 | Gas focused. Still likes. Makes sense for a portfolio. Well run. | 2010-12-09 | ||
| PAST TOP PICK | Just Energy Group | JE-T | 14.470 | (A Top Pick Jan 20/10. Up 9.64%.) Still likes. | 2010-12-09 | ||
| HOLD | Crescent Point Energy Corp | CPG-T | 43.220 | Focused in the Bakken but expanding into some other oil focused plays in Alberta and SE Saskatchewan. Loves the model of paying 5%-6% yields plus some growth and they have been very good at this. | 2010-12-09 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural Gas. He is very much long. Expects market to become aware of limited gas in the latter part of 2011. Prices will start picking up. His portfolios are marginally more gas weighted versus oil and that is likely to increase going in to 2011. | 2010-12-09 | ||
| PAST TOP PICK | Mullen Group Ltd | MTL-T | 15.860 | (A Top Pick Jan 20/10. Down 1.8%.) Still likes. | 2010-12-09 | ||
| BUY | Pengrowth Energy | PGF-T | 13.140 | Now trying to grow through the drill bit rather than acquisition, which makes more sense. Price is already reflecting the cut in distributions. Looking for an increase in unit/share price. | 2010-12-09 | ||
| BUY | Pacific Rubiales Energy Corp. | PRE-T | 32.040 | South America exposure. A lot bigger than Gran Tierra (GTE-T) so slower growth but less risk. Mostly oil but some gas. | 2010-12-09 | ||
| BUY | Gran Tierra Energy Inc. | GTE-T | 8.280 | Canadian but with operations exclusively in South America, primarily Colombia but expanding into Peru, Argentina and Brazil. 100% oil, no debt and $300 million in cash. | 2010-12-09 | ||
| TOP PICK | Open Range Energy Corp. | ONR-T | 1.830 | Gas exposure but some good liquid exposure as well. Because of managements views on gas prices have done very little drilling, but are starting to drill again. | 2010-12-09 | ||
| TOP PICK | Southwestern Energy | SWN-N | 36.100 | Very bullish outlook on gas and this will give you great exposure to gas. Well run and a tremendous track record in production growth and reserve growth. Both shale gas and conventional gas exposure. Potential take-out candidate. | 2010-12-09 | ||
| TOP PICK | Arc Resources Ltd | ARX-T | 21.600 | About 55% gas, which will go to about 65% as a result of an acquisition of Storm Exploration (SEO-T). One of the first players to move into the Montney Shale formation. 5.5% yield that he expects will not change when they convert to a Corp. | 2010-06-17 | ||
| PAST TOP PICK | Bonterra Energy Corp | BNE-T | 34.780 | (A Top Pick July 23/09. Up 67.48%.) Great company to own. | 2010-06-17 | ||
| TOP PICK | Bonavista Energy Corp | BNP-T | 25.550 | As a result of acquisitions in the last few years are increasing their gas exposure. Production growth will be very significant. Management owns 15%. 7.8% distribution. | 2010-06-17 | ||
| DON'T BUY | Connacher Oil and Gas | CLL-T | 1.420 | Basically heavy oil. Production is looking to be ramping up but would prefer other names. Have had challenges. | 2010-06-17 | ||
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| PAST TOP PICK | Canadian Oil Sands | COS-T | 28.780 | (A Top Pick July 23/09. Up 10.44%.) Great company to own. | 2010-06-17 | ||
| PAST TOP PICK | Encana Corp | ECA-T | 35.610 | (A Top Pick July 23/09. Up 14.82%.) Great company to own. | 2010-06-17 | ||
| BUY | NAL Energy Corp | NAE-T | 11.400 | Mid-tier, mid-quality trust. In partnership with ManuLife (MFC-T) and feels this relationship will continue. Stock had a lift recently because of the Cardium light oil play, but this is still a “show me” situation on how the drilling technology plays out. Well run and conservatively managed. 9.6% yield will probably have a modest cut. | 2010-06-17 | ||
| TOP PICK | Nuvista Energy Ltd | NVA-T | 11.640 | 28,000 BOE a day, almost 75% gas of which about half is coming out of the deep basin. Good production growth. Just initiated a 1.7% dividend, which could be increased if gas prices go where he thinks they can go, | 2010-06-17 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas. Feels prices will go substantially higher. Headlines would indicate that we have a natural abundance from shale as far as the eye can see. However looking at the supply of gas today, particularly US, only 13% comes from shale and over half is from the Barnett shale, which saw peak production about a year ago. Only 6% of the 13% is actually growing, nowhere near enough to offset the declines from the other 87%. Questions if the EIA is supplying accurate data on supply. Looking for $8 gas over the next 6-12 months. | 2010-06-17 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil. World is operating in 80 million barrels a day of production. Gulf spill of 60,000 barrels a day doesn't move the needle too much as far as what the price should be. Expect it will become much more costly to drill offshore and that will position Canada very well because we have the 2nd highest reserves globally, in the tar sands. | 2010-06-17 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Alberta oil sands. Medium to long-term, a very attractive area to invest in. 180 billion barrels of proven reserves, 2nd only to Saudi Arabia. Most production currently is from Suncor (SU-T) and Syncrude but there are some emerging players like Cenovus (CVE-T) that are bringing some SAGD technology and this is where real production growth is going to come from. | 2010-06-17 | ||
| BUY | Daylight Energy Ltd | DAY-T (Dead) | 10.170 | At this price range, you are getting a very competitive distribution. He is forecasting a strengthening in gas prices over the next 6-12 months and the stock should perform fairly well. Has some exposure to Cardium oil. | 2010-06-17 | ||
| SELL | Penn West Petroleum | PWT-T | 21.330 | China Investment Corp. made an investment, spending over $300 million in Peace River Arch area to bring it into production for 45% of production. (Penn West gets 55% at no cost.) Also, CIC has bought a 5% interest in Penn West. Thinks this will be a long-term trend. Putting disparate pieces together in their more conventional assets has been a challenge. Just announced a cut in distributions. If you own for income, there are better opportunities. | 2010-06-17 | ||
| BUY | Mullen Group Ltd | MTL-T | 14.920 | Trucking and well completion services. Pre-eminent logistics player on oil sands. Expected them to make acquisitions by this time. Long-term, great company to own. 3.4% yield. | 2010-06-17 | ||
| DON'T BUY | Bird Construction Income Fund | BDT-T | 32.090 | Has been either side of $30 for the last 6-9 months. Exposure to a pretty cyclical industry but are a major player out West. Given the build out in infrastructure in Western Canada, they're well positioned but a lot of this is priced into the stock. Distribution is relatively safe but doesn't see much upside. | 2010-06-17 | ||
| Comment | Horizon North Logistics | HNL-T | 1.650 | Well pad and living services for remote locations that are focused on oil sands operations. Longer term, this will be a great business but has had challenges shorter-term. | 2010-06-17 | ||
| DON'T BUY | Boralex Inc. | BLX-T | 4.630 | A power trust, basically biomass and Hydro. Hasn't been that keen on power trusts because it has been very difficult for them to grow through acquisitions. Feedstock from Quebec sawmills for the biomass has been a lot less in the last few years because of the economy. | 2010-06-17 | ||
| TOP PICK | Arc Resources Ltd | ARX-T | 21.470 | One of the best management teams in the energy sector. Only about 50% gas but will be closer to 60% in 12 months. Attractive valuation. | 2010-04-16 | ||
| PAST TOP PICK | Bonterra Energy Corp | BNE-T | 38.180 | (A Top Pick July 23/09. Up 73.22%.) | 2010-04-16 | ||
| STRONG BUY | Bonavista Energy Corp | BNP-T | 23.770 | Very well run. Management owns almost 20%. Made a major acquisition from Talisman (TLM-T) that will really position them to grow. Gas weighted. | 2010-04-16 | ||
| PAST TOP PICK | Canadian Oil Sands | COS-T | 30.280 | (A Top Pick July 23/09. Up 10.9% excluding distributions.) | 2010-04-16 | ||
| TOP PICK | Encana Corp | ECA-T | 31.470 | (A Top Pick July 234/09.) Gas. If you are going to be in a commodity that is under priced and is going to have a big move, you want to be in ones that are big and liquid. Reasonable valuation. | 2010-04-16 | ||
| HOLD | NAL Energy Corp | NAE-T | 12.700 | Good, mid tier, steady player. With a resurgence of the Cardium/Pembina light oil play, they have a strong position. | 2010-04-16 | ||
| TOP PICK | Nuvista Energy Ltd | NVA-T | 12.340 | 70%+ gas. Trading around 5X cash flow. Cash flow is using about a $5-$5.50 gas price. Very well run. | 2010-04-16 | ||
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| Comment | Yellow Media Inc | YLO-T | 6.450 | Looking at converting to a corporation. Successfully refinanced some of its debt. People are using less and less telephone directories and the jury is still out on how well they transition to digital. Reasonably priced and getting pretty good yield. | 2010-04-16 | ||
| Comment | Crescent Point Energy Corp | CPG-T | 39.980 | Trades at a premium valuation. He would like to see them back fill that valuation by proving out the reserves that they have acquired. Dominant position in the Bakken and now in the lower Shaunavon and the Viking. | 2010-04-16 | ||
| DON'T BUY | Fairborne Energy Ltd. | FEL-T | 4.110 | Has been disappointing over time. Management has made promises that they couldn't keep. If you want exposure to natural gas, there are better ways to do it. | 2010-04-16 | ||
| BUY on WEAKNESS | PetroBakken Energy | PBN-T | 26.740 | Dominant position in the Bakken light oil play in Saskatchewan. His preference in this area would be Crescent Point (CPG-T). Both companies are fully valued but growth prospects and track record for Crescent Point is better as well as getting a yield. | 2010-04-16 | ||
| BUY | Cenovus Energy | CVE-T | 29.160 | Very high quality company. | 2010-04-16 | ||
| STRONG BUY | Athabaska Oil Sands Corp | ATH-T | 13.850 | An IPO that has been mismanaged by the investment bankers. Good company. Undervalued. | 2010-04-16 | ||
| PAST TOP PICK | Arc Resources Ltd | ARX-T | 21.650 | (A Top Pick Feb 6/09. Up 9.47%.) Still a buy. | 2010-01-20 | ||
| TOP PICK | Bonavista Energy Corp | BNP-T | 23.850 | About 60% gas. Made a large acquisition last year. Management owns about 15%. Relatively low costs. 7%-8% yield plus growth. Also have exposure to the cardium play in Alberta. Should see some real growth over time. | 2010-01-20 | ||
| PAST TOP PICK | Canadian Oil Sands | COS-T | 29.480 | (A Top Pick Feb 6/09. Up 42.78%.) Still a buy. | 2010-01-20 | ||
| PAST TOP PICK | Encana Corp | ECA-T | 35.390 | (A Top Pick Feb 6/09. Up 20.7%.) Still a buy. | 2010-01-20 | ||
| BUY on WEAKNESS | Veresen Inc | VSN-T | 10.250 | Energy infrastructure. Has interest in Alliance Pipeline, which ships gas from Western Canada. Also has a natural gas liquids extraction facility. Yields about 9%. Fully valued. Try to buy in the $9 range. | 2010-01-20 | ||
| BUY | Labrador Iron Ore | LIF.UN-T | 48.500 | Great company because it truly is a royalty play. Has exposure to Iron Ore Company with both an equity and royalty interest. He believes iron ore prices are going to be strong. Just a matter of time before Rio Tinto (RTP-N) takes them out. | 2010-01-20 | ||
| HOLD | NAL Energy Corp | NAE-T | 14.280 | A good “steady Eddie” type of name and has good backing by ManuLife (MFC-T). 8%-9% yield. Reasonable valuation. There may be some reduction in distributions in 2011 but it will be modest. Significant position in the Cardium formation in central Alberta. | 2010-01-20 | ||
| BUY | Nuvista Energy Ltd | NVA-T | 11.970 | Gas weighted. Fairly well run. You own this one for growth, not income. | 2010-01-20 | ||
| DON'T BUY | Rogers Sugar Inc | RSI-T | 4.960 | Volatility in distributions through the years. Great performer in the last year because sugar prices have doubled. If you want a holding that gives steady income with some growth there are better places to be. | 2010-01-20 | ||
| TOP PICK | Just Energy Group | JE-T | 14.050 | Expanded into the US, which he thinks will be successful. Expects distributions will be maintained and once they convert to a corp, US investors will start looking more closely at it. | 2010-01-20 | ||
| BUY | Yellow Media Inc | YLO-T | 5.340 | Sentiment is a big headwind for this company because of fewer people using Yellow Pages. Healthy 15% yield that he thinks can be maintained for 2010 giving you a good cushion against any downward move in the price. Trades in a range of $5 to a little over $6 so treat as a trading stock. | 2010-01-20 | ||
| HOLD | Crescent Point Energy Corp | CPG-T | 39.450 | Has gained a dominant position in the late oil in the Bakkens. Fully valued. Would like to see it grow into its valuation by proving out its assets that it acquired. Competent in management's ability. | 2010-01-20 | ||
| HOLD | Penn West Petroleum | PWT-T | 18.960 | Hasn't participated in oil/gas trust prices like its peers. Consolidation story, which you have to be sceptical about because of the integration of assets that are needed. Still a “show me” story. | 2010-01-20 | ||
| TOP PICK | Mullen Group Ltd | MTL-T | 16.610 | Dominant player in the oil field services in Alberta. A lot of oil sands infrastructure projects getting back on the rails is a plus for them. | 2010-01-20 | ||
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| PAST TOP PICK | Arc Resources Ltd | ARX-T | 17.400 | (A Top Pick Nov 13/08. Down 7.22%.) About 50% gas. One of the leading players in the Montney shale in northeast BC. Good pipeline of drilling opportunities. Buy. | 2009-07-23 | ||
| TOP PICK | Bonterra Energy Corp | BNE-T | 21.880 | About 68% oil. Very solid dividend. Management owns a lot of the stock. Low payout ratio. Good balance sheet. | 2009-07-23 | ||
| STRONG BUY | Bonavista Energy Corp | BNP-T | 17.290 | One of the top management teams. Recently acquired $700 million of primarily gas assets from Encana (ECA-T), which will really propel them into a new direction. | 2009-07-23 | ||
| PAST TOP PICK | Canadian Natural Rsrcs | CNQ-T | 63.680 | (A Top Pick Nov 13/08. Up 24.58%.) Successful in bringing their Horizon project online. A lot of gas exposure has been holding it back. Still a Buy. | 2009-07-23 | ||
| TOP PICK | Canadian Oil Sands | COS-T | 27.390 | Most of their CapX is behind them. Have unhedged exposure to higher oil prices. Management announced costs per barrel are going to be higher. When they report July 27 should be a really good entry point. | 2009-07-23 | ||
| TOP PICK | Encana Corp | ECA-T | 59.080 | 80% natural gas. This is a name to own for exposure to natural gas. Have done a good job reducing costs. | 2009-07-23 | ||
| HOLD | NAL Energy Corp | NAE-T | 9.540 | Mid-tier, kind of Steady Eddie type of player. There will be huge catalysts to drive it a lot higher but conservatively run and strong relationship with ManuLife (MFC-T) doing a lot of joint ventures on a lot of asset packages. 11.3% yield. | 2009-07-23 | ||
| BUY | Parkland Fuel Corp | PKI-T | 10.170 | Major asset position in service stations in Alberta. If you’re looking for names to provide you with steady income this would be one. If you're looking for growth this wouldn't be a first choice. | 2009-07-23 | ||
| PARTIAL BUY | Perpetual Energy | PMT-T | 4.300 | Gas weighted. Well run. Short reserve life is a bit of an issue. Well capitalized. 13.9% distribution is in good shape. Has been slowly adding this one to his portfolio. | 2009-07-23 | ||
| STRONG BUY | Suncor Energy Inc | SU-T | 36.700 | Just reported and showed higher costs in production. With the acquisition of PetroCanada (PCA-T) and their oil sands assets and the unused upgrading capacity this is going to be a great place to be in the long-term. | 2009-07-23 | ||
| Comment | Talisman Energy | TLM-T | 17.240 | Has been undergoing a transition under new management. Disposing of some questionable assets globally and focusing more on the unconventional side. Some concerns on them getting into some of their unconventional plays at the top of the market. | 2009-07-23 | ||
| BUY | Baytex Energy Corp | BTE-T | 21.650 | Heavy oil weighted. Differentials have coming in nicely over the last little while and are close to 15%-20%. | 2009-07-23 | ||
| PAST TOP PICK | Crescent Point Energy Corp | CPG-T | 35.490 | (A Top Pick Nov 13/08. Up 44.66%.) Just converted to a corporation but with no change in dividend. Should be a core name in your portfolio but wait for a pullback before Buying. | 2009-07-23 | ||
| WAIT | Cathedral Energy Services | CET-T | 3.620 | Drilling business in Canada is very correlated with where natural gas prices are. Given that gas prices are likely to pick up late this year and into next year, the best way to play this is by owning gas producers rather than the drillers. Good name. | 2009-07-23 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil: Looking for oil to reach $80-$85 by the end of the year. Doesn't think that equity prices are discounting higher oil prices. | 2009-07-23 | ||
| HOLD | Daylight Energy Ltd | DAY-T (Dead) | 8.050 | Gas weighted. Shorter reserve life but very good balance sheet. Very low payout ratio so distribution should be sustainable. Good prospects to grow production. 11.9% distribution. | 2009-07-23 | ||
| WEAK BUY | Penn West Petroleum | PWT-T | 14.450 | Has been very acquisitive over the last few years and are still having some challenges integrating. Very large company to be able to make any growth through a specific play. If looking to participate in higher oil/gas prices, there are better names for greater leverage. 12.5% yield could possibly be cut. | 2009-07-23 | ||
| BUY | TriStar Oil & Gas | TOG-T | 11.720 | In the Bakken play in Saskatchewan. This area could see some consolidations. Good leverage to oil. | 2009-07-23 | ||
| WEAK BUY | Pengrowth Energy | PGF-T | 25.300 | Have been transitioning to be more operationally/technically focused. Has helped them in growing production and allowed them to avoid making an acquisition just for the sake of making inaccurate edition. Wouldn't be one of his top holdings. | 2009-07-23 | ||
| TOP PICK | Arc Resources Ltd | ARX-T | 16.020 | Recently raised $250 million to shore up its balance sheet. Dominant player in the Montney greater Dawson area. Cut distributions a number of times over the last 4 or 5 months. There is probably a good base of distributions. | 2009-02-06 | ||
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| BUY | Bonavista Energy Corp | BNP-T | 16.720 | (Market Call Minute.) Looks like good value at this price. Very shrewd management. | 2009-02-06 | ||
| TOP PICK | Canadian Oil Sands | COS-T | 21.010 | Cut distributions recently by about 80% so this should position it very well to take advantage of a doubling of oil prices this year. | 2009-02-06 | ||
| TOP PICK | Encana Corp | ECA-T | 56.310 | Dominant player in the unconventional gas area. Has a good footprint in the Canadian oil sands. Low steam/oil ratios expected. Relatively low operating costs. | 2009-02-06 | ||
| BUY | Enerplus Corp | ERF-T | 25.740 | (Market Call Minute.) Very well run. Pretty safe yield at these levels. | 2009-02-06 | ||
| HOLD | H&R Real Estate Inv Trust | HR.UN-T | 8.010 | (Market Call Minute.) Recently cut distributions. Has a big project in Calgary that it should be able to handle. | 2009-02-06 | ||
| DON'T BUY | Harvest Energy Trust | HTE.UN-T | 9.420 | 38.8% yield, which he expects will be cut. Not only a producer but bought a refinery, which is probably one of the worst businesses you could get into. | 2009-02-06 | ||
| HOLD | NAL Energy Corp | NAE-T | 7.900 | Mid-tier average quality name. Cut distributions earlier this year. Fairly good shape and provides a pretty good up front yield. Have a very strong partnership with ManuLife (MFC-T) for me king acquisitions. 17% yield. | 2009-02-06 | ||
| Comment | Noranda Income Fund | NIF.UN-T | 4.690 | Zinc processor. Yield of about 22% and he is currently assessing this. | 2009-02-06 | ||
| HOLD | Nexen Inc | NXY-T | 18.450 | (Market Call Minute.) Recently increased position in Long Lake and good upside through its oil sands. | 2009-02-06 | ||
| Comment | Provident Energy Ltd | PVE-T | 5.600 | (Market Call Minute.) Wouldn't own this, as it is both a producer and midstream. He prefers pure plays. | 2009-02-06 | ||
| Comment | Talisman Energy | TLM-T | 12.810 | For years it has been a “show me” story. Company continues to be transitioning under new management. Trying to become an unconventional gas play. | 2009-02-06 | ||
| Comment | Trans Canada Corp | TRP-T | 33.820 | Historically viewed as a defensive stock. As being a bit more growth oriented recently. Expanding organically through the Keystone Pipeline. May eventually see the McKenzie Valley pipeline being built. Just increased dividends. | 2009-02-06 | ||
| PAST TOP PICK | Vermilion Energy Inc | VET-T | 24.800 | (A Top Pick Jan 29/08. Down 21.8%.) Very well run. Most of its assets and production are offshore and will come in tax-free. Great core holding in the portfolio. A Buy right now. | 2009-02-06 | ||
| PAST TOP PICK | Crescent Point Energy Corp | CPG-T | 23.000 | (A Top Pick Jan 29/08. Up 3.6%.) Dominant player in the light oil Bakken Bock and play in south-east Saskatchewan. Management feels they can maintain distribution at these prices. Active hedgers. Relatively low debt to cash flow. | 2009-02-06 | ||
| BUY | Cathedral Energy Services | CET-T | 4.080 | (Market Call Minute.) Service energy area is generally out of favour but this would probably be the one name he would Buy. | 2009-02-06 | ||
| DON'T BUY | Penn West Petroleum | PWT-T | 13.940 | Think they are going to have headwinds on both short-term and long-term aspects. Recently raised some money but not all that issue has he sold. Very few institutions participated. Struggling to replace production. Distributions are too high. | 2009-02-06 | ||
| SELL | Bellatrix Exploration Ltd. | BXE-T | 0.950 | (Market Call Minute.) Not one of his favourites. Too small and has a short reserve life. | 2009-02-06 | ||
| BUY | TriStar Oil & Gas | TOG-T | 10.800 | (Market Call Minute.) Looks like good value with good exposure to Bakken oil. | 2009-02-06 | ||
| Comment | HBP NYMEX Oil Bull+ ETF | HOU-T | 7.110 | ETF that provides twice on the upside (and downside!) and will give you a lot more torque. Depends on how much risk you really want to take. Would prefer an oil company. | 2009-02-06 | ||
| TOP PICK | Arc Resources Ltd | ARX-T | 19.860 | Increased distributions as commodity prices increased and have now brought them back down again. When it announced distribution decrease, it also announced an increase in its reserves. One of the dominant players in the Montney formation in northeast BC. Very disciplined management. | 2008-11-13 | ||
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| TOP PICK | Canadian Natural Rsrcs | CNQ-T | 50.340 | A leading Canadian oil/gas producers. International footprint. Relatively low operating costs. Just released Q3 results and it is in good shape to produce from its oil sands in 09. | 2008-11-13 |
