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| John Stephenson of First Asset Investment Management |
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| John Stephenson's website |
| HOLD | Penn West Energy Trust | PWT.UN-T | 20.030 | It’s a great strategy that they have with China and Mitsubishi. In both cases the partner is picking up more than half the cost. This name he rates a hold because it is quite large (5’th). Everything is looking good but they have not given any clarity as to what will happen post-conversion. | 2010-08-31 | ||
| DON'T BUY | Compton Petroleum | CMT-T | 0.410 | Would be one of his least favourite names in this space. High exposure to Natural Gas. Avoid. | 2010-08-31 | ||
| BUY | Bonterra Energy Corp | BNE-T | 39.700 | Has some perspective wells. A low cost operator and developer. Feels comfortable with this name. | 2010-08-31 | ||
| BUY | Crescent Point Energy Corp | CPG-T | 37.550 | This is a name that is a street darling. Guys running it have done an incredible job of putting together a set of world-class assets. If you compare valuation to others, it is not a cheap stock, but is attractive to investors. | 2010-08-31 | ||
| BUY | Bankers Petroleum | BNK-T | 6.820 | An international, oil weighted story and the market is keying off on this. | 2010-08-31 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural Gas: Would all trucks end up running on Natural Gas? Would be at least 10 year to establish the infrastructure and regulatory system. | 2010-08-31 | ||
| HOLD | Perpetual Energy | PMT-T | 4.940 | This stock is a trader. Only 5 years of reserve life. They are successfully avoiding some of the shallow gas. They are gas weighted. | 2010-08-31 | ||
| HOLD | Petrobank Energy and Resources | PBG-T | 36.980 | It’s cheap. It definitely is undervalued. Hold on to it. | 2010-08-31 | ||
| PAST TOP PICK | Encana Corp | ECA-T | 29.250 | (Top Pick Sep 28/09, Down 8.3% total return) They did a great job of hedging and posted some great numbers. Had best potential going forward, but issue is that it is becoming increasingly difficult to hedge. They want to grow production but everyone is scratching their heads. | 2010-08-31 | ||
| PAST TOP PICK | Hess Corp. | HES-N | 50.250 | (Top Pick Sept 28/09, Down 7.6%) A good name and one you would consider. The growth story was front a center in last part of ’09 with ‘V’ shape recovery and since then we are talking about ‘U’ shaped or double dip. | 2010-08-31 | ||
| PAST TOP PICK | Canadian Natural Rsrcs | CNQ-T | 34.300 | (Top Pick Sept 28/09, Down 6% total return) He boosted his weighting in the fund. This and SU are two of the best names in the large cap space. This is a name that is very attractive. | 2010-08-31 | ||
| SELL | Galleon Energy Inc. | GO-T | 3.520 | Completed strategic review and no buyer could be found. Struggling to meet production. A name to sell or at least not buy. | 2010-08-31 | ||
| BUY | Pengrowth Energy Trust | PGF.UN-T | 10.330 | Would recommend if you are looking 3-5 years out. They have some great properties. Just starting to apply horizontal drilling. Thinks we will have a bull market in commodities next year in the second quarter. Buy a trust for the yield while you wait. Would recommend AET over this one. | 2010-08-31 | ||
| BUY on WEAKNESS | Vermilion Energy Trust | VET.UN-T | 35.670 | You have to wait on the commodity boom story. Conversion issue is behind you because their income is international. | 2010-08-31 | ||
| HOLD | PetroBakken Energy | PBN-T | 20.130 | It is cheap. Everyone will look at it and say it is attractive that way. They haven’t put up the quality of numbers over time. Don’t buy any more. If they can show some reasonable production, then it will be different. | 2010-08-31 | ||
| BUY | Daylight Resources Trust | DAY-T | 9.110 | Has been buying some. 50/50 Gas/Oil. Quiet on the news front and thinks there will be some announcements soon. Pretty good time to get into this one. | 2010-08-31 | ||
| BUY | Pembina Pipeline Income Trust | PIF.UN-T | 19.600 | (Market Call Minute) | 2010-08-31 | ||
| HOLD | Connacher Oil and Gas | CLL-T | 1.200 | (Market Call Minute) High levels of debt | 2010-08-31 | ||
| DON'T BUY | Provident Energy Trust | PVE.UN-T | 6.680 | (Market Call Minute) They are a mid stream company right now. Undervalued by no catalyst to the upside. | 2010-08-31 | ||
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| HOLD | NAL Oil & Gas Trust | NAE.UN-T | 10.730 | (Market Call Minute) Waiting on distribution policy. | 2010-08-31 | ||
| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | The world is very concerned about the numbers out of the US and out of China. There’s a lot of concern about growth globally. This is the opportunity to pick away at the better quality names. The talk of double dip is overblown. You need negative data to get into double dip territory. The FED can print money. | 2010-08-31 | ||
| TOP PICK | BP PLC | BP-N | 34.830 | You’re sitting listening to all the headline risk. With the US court system, it will be years, probably 12. Thinks risks are overblown. Gulf of Mexico is only 10% of cash flow. There’s been no impact on aggregate cash flow to Gulf Coast businesses from the spill. They have been flat year over year. BP are strong fundamentally. This is one of the great energy companies. | 2010-08-31 | ||
| TOP PICK | Schlumberger Ltd. | SLB-N | 53.330 | If you believe we are going into a commodity boom in the next year, you go into this one. Best technology and best mix of products. | 2010-08-31 | ||
| TOP PICK | Atlas Energy Inc. | ATLS-Q | 27.970 | Great company. Shale play. Production growth of 30%/year for the next 5 years. Lots of potential upside. | 2010-08-31 | ||
| TOP PICK | Brookfield Renewable Power Fund | BRC.UN-T | 20.500 | A conservative play as the macro backdrop is not encouraging right now. Predominantly hydro-assets. Yielding over 6% with modest upside growth from this. Probably average 10% total return over the course of a year. | 2010-07-23 | ||
| TOP PICK | Cenovus Energy | CVE-T | 30.180 | Foster Creek and Christina Lake are the 2 main SAGD operations and have some of the best ratios in the business. Have 137 billion barrels of oil in place on their lands, which will support potential production of 2 million barrels a day. | 2010-07-23 | ||
| TOP PICK | CASH | CASH | 0.000 | Holding 40% cash in his funds. Energy resource area is a risk trade but only works if there is global growth. Top down view of global growth seems to be deteriorating. You want to be cautious for the next 3-4 months. You can start looking to buy in the late fall. | 2010-07-23 | ||
| PAST TOP PICK | Hess Corp. | HES-N | 52.700 | (A Top Pick July 24/09. Down 1%.) Sold in May with a little bit of profit. Had great exploration/production upside, particularly offshore. Now that things are clearing up in the Gulf, it might be time to look at this again. | 2010-07-23 | ||
| PAST TOP PICK | Enbridge | ENB-T | 51.950 | (A Top Pick July 24/09. Up 36%.) Continues to grow at about 20% a year. Solid management team. Currently he is favouring Trans Canada (TRP-T) but still likes this one. | 2010-07-23 | ||
| PAST TOP PICK | Talisman Energy | TLM-T | 16.730 | (A Top Pick July 24/09. Down 3%.) Got tired of waiting for it to turn so he got out in May. Has done a good job lately of this posing of non-core assets. Repositioning itself in gas and oil sands. | 2010-07-23 | ||
| BUY | Daylight Resources Trust | DAY-T | 9.160 | Likes the name. Screens very well on all the metrics and tends to be one of the cheaper trusts. Reasonably solid balance sheet. His preference is Baytex (BTE.UN-T) and Arc Energy (AET.UN-T) | 2010-07-23 | ||
| BUY | Crescent Point Energy Corp | CPG-T | 37.650 | 7%+ dividend should be safe. Real upside potential for this company is their key position in the Bakken and their ability to increase production and recoveries by water flooding. | 2010-07-23 | ||
| BUY | Trans Canada Corp | TRP-T | 36.620 | Lagged because it had a reputation of missing guidance and also issuing too much equity to pay for expansion. This is all behind it and it seems to have enough cash flow from existing operations to meet current commitments. Keystone pipeline is a little bit of a mixed bag south of the border but initial phases are contributing to cash flow. Very solid name. (See Top Picks.) | 2010-07-23 | ||
| Comment | UTS Energy | UTS-T | 3.700 | Being acquired by Total (TOT-N). If you own, you should tender, as he doesn't expect there will be another competing offer. | 2010-07-23 | ||
| BUY | Connacher Oil and Gas | CLL-T | 1.380 | A good stock but not a screaming buy. It is reasonably fairly valued. They have to bring on some more production at Great Divide. One potential catalyst is that it is a logical acquisition down the road by a large foreign player. | 2010-07-23 | ||
| BUY | Suncor Energy Inc | SU-T | 33.380 | Should do fairly well in relation to previous quarters. Have had a heck of a last 3-4 quarters with fires at the various upgraders, which cut off a third to two thirds of their production. | 2010-07-23 | ||
| HOLD | Gran Tierra Energy Inc. | GTE-T | 6.000 | Has to show investors what it can do, a “show me” story. Investors like this one a lot. Excellent management team. Some real prospectivity in Peru. Real catalyst is Colombia where it has a lot of acreage. Lots of cash. | 2010-07-23 | ||
| Comment | Pengrowth Energy Trust | PGF.UN-T | 10.150 | Pengrowth Energy (PGF.UN-T) or Peyto Energy Trust (PEY.UN-T)? 8% yield, which is to continue next year. Both are gas weighted but Peyto has a better set of land and has been demonstrably better in proving up value over time. Pengrowth has a resource base that they have yet to prove up and develop. Prefers Peyto. | 2010-07-23 | ||
| Comment | Peyto Energy Trust | PEY.UN-T | 15.610 | Pengrowth Energy (PGF.UN-T) or Peyto Energy Trust (PEY.UN-T)? 9.3% yield, which is to drop to 7% next year. Both are gas weighted but this one has a better set of land and has been demonstrably better in proving up value over time. Prefers Peyto. | 2010-07-23 | ||
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| BUY | Petrobank Energy and Resources | PBG-T | 43.920 | Been disappointing for the last little while. Still a bit of a “show me” story. Big issue has been that they just haven't delivered in line with their guidance but they are cheap and attractive and have some decent holdings. Good assets and good management. | 2010-07-23 | ||
| DON'T BUY | Opti Canada Inc. | OPC-T | 1.690 | Potential takeover candidate but any acquirer would realize the Long Lake reservoir has been disappointing. Nexen (NXY-T) is the operator and has 54 submersible pumps trying to bring up more production but it is very slow. | 2010-07-23 | ||
| BUY | Schlumberger Ltd. | SLB-N | 59.350 | Earnings are up but the stock keeps on falling. Getting tarred with the same brush as the Halliburtons of the world. There is a question in people's minds as to what is going to happen in the Gulf of Mexico and is the moratorium going to be extended. This is an opportunity. | 2010-07-23 | ||
| HOLD | PetroBakken Energy | PBN-T | 23.260 | Has upside from here. Trading at a number of multiple points below Crescent Point (CPG-T) which is also in the Bakken. This is something you can hold onto. Looking for a minimum of 20% upside in the course of a year. | 2010-07-23 | ||
| HOLD | EOG Resources Inc | EOG-N | 102.330 | In the Bakken, which is a hot play so it should do quite well. Experienced and one of the best operators out there. | 2010-07-23 | ||
| Comment | Bankers Petroleum | BNK-T | 7.990 | Possibility of a takeover in 12 months. Has a real opportunity to double its production in the next couple of years. Probably a little overvalued right now. You can either Hold if you own or start picking away at it. | 2010-07-23 | ||
| BUY | Pacific Rubiales Energy Corp. | PRE-T | 24.620 | A favourite but have reasons for continued optimism. Have contiguous land of about 25,000 acres where there is a lot of prospectivity that could be a huge upside for the company. | 2010-07-23 | ||
| BUY | Penn West Energy Trust | PWT.UN-T | 20.500 | $1.8 billion investment by the China Investment Corp. Deal is structured to develop the oil sands play, Seal and they pay almost all the costs up front and Penn West gets 55% of the cash flow and/or oil from future development. | 2010-07-23 | ||
| Comment | Husky Energy | HSE-T | 26.510 | Has been a little flat-footed over the last several years. Invested a lot in refining at the worst time of the cycle. Spin-off of the East Asian assets will be a catalyst but has been out there for at least 2 years. New CEO doesn't come from oil/gas background. 4.5% yield. | 2010-07-23 | ||
| Comment | HBP NYMEX Oil Bull+ E.T.F. | HOU-T | 6.780 | NYMEX Oil Bull+ ETF. The way this works is that it depends on the price path. Recalibrated virtually every day and if oil goes down, you have a lower base that you have to build from so oil could end up higher but you could be down further than what you paid. | 2010-07-23 | ||
| HOLD | Encana Corp | ECA-T | 32.220 | (Market Call Minute.) Generally he loves the stock but doubling production over the next 5 years makes no sense with gas price where it is. | 2010-07-23 | ||
| HOLD | Altagas Ltd | ALA-T | 19.850 | (Market Call Minute.) Attractive from a yield perspective but doesn't see a catalyst going forward. | 2010-07-23 | ||
| BUY | NAL Oil & Gas Trust | NAE.UN-T | 11.140 | (Market Call Minute.) Very solid trust. | 2010-07-23 | ||
| BUY | Pembina Pipeline Income Trust | PIF.UN-T | 18.950 | (Market Call Minute.) Great chart and great income. | 2010-07-23 | ||
| TOP PICK | Trans Canada Corp | TRP-T | 34.910 | Been in the penalty box for a while. Significant pullback giving a good entry point. Catalysts are 1) it's defensive, 2) good dividend yield, 3) Keystone is a positive for the company and over time it will throw off about $1.3 billion in terms of cash flow and 4) the restart of Bruce #1 and $2, which they have a significant interest in. | 2010-05-28 | ||
| TOP PICK | Canadian Natural Rsrcs | CNQ-T | 36.610 | If you want an oil weighted portfolio, this would be a core holding. Incredible cash machine and solid growth. Will grow and have production of about 640,000 barrels per day. Should throw off about $3 billion in terms of cash flow over the next couple of years. | 2010-05-28 | ||
| TOP PICK | Suncor Energy Inc | SU-T | 32.080 | Generally speaking, oil has lagged the market recovery so expects they will go quite a bit higher. Had problems with fire. Integration with Petrocan has not gone as well as people had hoped. April numbers where incredibly strong so it looks like they have finally turned the corner. Superlative management team and one of the best reservoirs. Long reserve life. | 2010-05-28 | ||
| PAST TOP PICK | Enbridge | ENB-T | 47.260 | (A Top Pick June 24/09. Up 24%.) One of the best names in terms of dividend growth and overall growth. Not cheap, but with the current pullback, it's a good entry point. | 2010-05-28 | ||
| PAST TOP PICK | Talisman Energy | TLM-T | 17.930 | (A Top Pick June 24/09. Up 14%.) Issue with them is their collection of disparate assets, which they have done a good job of cleaning up. Still more work to do. Will go higher eventually but is range bound right now. Hold. | 2010-05-28 | ||
| PAST TOP PICK | Imperial Oil | IMO-T | 39.950 | (A Top Pick June 24/09. Down 8.2%.) Doesn't own any more but it is getting interesting. Wait 6-7 months before stepping into it. | 2010-05-28 | ||
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| Comment | PetroBakken Energy | PBN-T | 23.900 | Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management and better production but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but have had very disappointing production and haven't had the growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil. | 2010-05-28 | ||
| SELL | Penn West Energy Trust | PWT.UN-T | 20.210 | Have been pounding the table on their drilling in the Cardium. They are very big so have to find a lot more oil/gas to keep the production needle moving higher. Prefers Suncor (SU-T). If you own, he would be tempted to Sell this and buy Suncor. (See Top Picks.) | 2010-05-28 | ||
| BUY on WEAKNESS | Crescent Point Energy Corp | CPG-T | 39.000 | Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management team and is a better producer but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but had very disappointing production and haven't had the growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil. | 2010-05-28 | ||
| BUY | Petrobank Energy and Resources | PBG-T | 43.720 | Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management and is a better producer but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but had very disappointing production and haven't had growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil. | 2010-05-28 | ||
| SPECULATIVE BUY | Bellatrix Exploration Ltd. | BXE-T | 3.110 | Has a lot of production growth ahead of it. Has done a pretty good job of hedging. A little bit gas weighted. Expect natural gas prices will remain modest for the next little while. Good name to hold. | 2010-05-28 | ||
| BUY | Pengrowth Energy Trust | PGF.UN-T | 10.020 | Decent name. Solid team and no issues with the balance sheet. Starting to get into shale plays and horizontal drilling. Good entry point. | 2010-05-28 | ||
| SPECULATIVE BUY | Grande Cache Coal Corp. | GCE-T | 5.740 | Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Tend to be a higher cost producer meaning higher leverage to the upside if prices rise and higher leverage to the downside if prices fall. Cheap relative to its competition. | 2010-05-28 | ||
| SPECULATIVE BUY | Western Canadian Coal Corp. | WTN-T | 5.240 | Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Good entry point. | 2010-05-28 | ||
| WEAK BUY | Connacher Oil and Gas | CLL-T | 1.490 | Probably about the only way to play the oil sands with a junior. About 10,000 production and going up another 10,000 very shortly. Potential of a takeout. Fairly valued right now. | 2010-05-28 | ||
| SPECULATIVE BUY | Corridor Resources Inc | CDH-T | 4.700 | Attractive. Frederick shale seems to be producing. Question is the macro growth story. What happens with the global growth story? If global growth is on the back burner, this story is not going anywhere. If global growth is back in the forefront, this one should go quite a bit higher. | 2010-05-28 | ||
| HOLD | Ithaca Energy Inc. | IAE-X | 2.470 | A little bit gassy but otherwise it is okay. | 2010-05-28 | ||
| STRONG BUY | Schlumberger Ltd. | SLB-N | 56.150 | All of these types of stocks have gotten trashed lately, particularly with the spill/leak in the Gulf. A global player that does very sophisticated things. There will be a positive snap back in all of these stocks. | 2010-05-28 | ||
| STRONG BUY | Halliburton Co | HAL-N | 24.830 | All of these types of stocks have gotten trashed lately, particularly with the spill/leak in the Gulf. A global player that does very sophisticated things. There will be a positive snap back in all of these stocks. | 2010-05-28 | ||
| STRONG BUY | Smith International | SII-N (Dead) | 37.560 | All of these types of stocks have gotten trashed lately, particularly with the spill/leak in the Gulf. A global player that does very sophisticated things. There will be a positive snap back in all of these stocks. | 2010-05-28 | ||
| STRONG BUY | Anadarko Petroleum Corp | APC-N | 52.330 | All of these types of stocks have gotten trashed lately, particularly with the spill/leak in the Gulf. A global player that does very sophisticated things. There will be a positive snap back in all of these stocks. | 2010-05-28 | ||
| STRONG BUY | Nexen Inc | NXY-T | 22.970 | All of these types of stocks have gotten trashed lately, particularly with the spill/leak in the Gulf. A global player that does very sophisticated things. There will be a positive snap back in all of these stocks. | 2010-05-28 | ||
| STRONG BUY | BP PLC | BP-N | 42.950 | Huge environmental disaster and total liabilities could stretch into the billions but this is where it creates opportunity. | 2010-05-28 | ||
| DON'T BUY | Husky Energy | HSE-T | 26.330 | New CEO with experience in the telecom industry. Probably signals the old CEO will take over the Asian assets, which will eventually be a spin out. Even if this happens, doesn't expect it will move the needle on this company. | 2010-05-28 | ||
| HOLD | Progress Energy Resources | PRQ-T | 12.040 | Likes the stock but is worried about gas. One of the biggest landholders in the Montney so it's very attractively positioned. Good management. | 2010-05-28 | ||
| DON'T BUY | Opti Canada Inc. | OPC-T | 1.870 | When the financial crisis hit, they weren't able to get financing. Cash flows were not coming in so couldn't get access to the capital markets. | 2010-05-28 | ||
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| HOLD | Chinook Energy Inc | CKE-T | 1.600 | Had a lot of momentum and was moving from more conventional gas into unconventional gas but got caught a little late making that move. Also had some debt issues. | 2010-05-28 | ||
| BUY | Questerre Energy | QEC-T | 2.810 | Linked to the Quebec shale play. Promising story. Has potential upside from here. | 2010-05-28 | ||
| Comment | Daylight Resources Trust | DAY-T | 9.950 | Daylight (DAY-T) or Arc Energy (AET.UN-T)? Good name but of the 2 Arc would be the better because they are so conservatively managed with big positions in the Montney. | 2010-05-28 | ||
| BUY | Arc Energy Trust | AET.UN-T | 20.700 | Daylight (DAY-T) or Arc Energy (AET.UN-T)? Arc would be the better because they are so conservatively managed with big positions in the Montney. When there is a turning gas, this is the name you want to be in. | 2010-05-28 | ||
| HOLD | Gran Tierra Energy Inc. | GTE-T | 5.540 | (Market Call Minute.) Costayaco field is just not producing at a have to figure out how to get the production up. | 2010-05-28 | ||
| BUY | Pacific Rubiales Energy Corp. | PRE-T | 21.900 | (Market Call Minute.) Good quality name with good torque to the upside. | 2010-05-28 | ||
| BUY | Twin Butte Energy | TBE-T | 1.340 | (Market Call Minute.) Very solid name. On his watch list. | 2010-05-28 | ||
| STRONG BUY | Baytex Energy Trust | BTE.UN-T | 32.600 | (Market Call Minute.) A must own. The upside is the potential doubling of its reserves and a game changer with commercialization of its Seal project. | 2010-05-28 | ||
| TOP PICK | Canadian Oil Sands Trust | COS.UN-T | 30.280 | (A Top Pick Apr 12/09. Up 8.6% excluding distributions.) Sinopec out of China bought ConocoPhillips (COP-N) assets at a price that would be equivalent to $37 a share for this company. Also expects there could be a distribution increase. Also looking for oil to move slightly higher over time. | 2010-04-16 | ||
| TOP PICK | Trans Canada Corp | TRP-T | 37.280 | Time to be more defensive. Market will trend higher but slower than last year. Main catalyst going forward is Keystone, which is producing cash flow now. Going into 2011, it has a Bruce #1 and #2 restart, which is another catalyst. Have all capital expenditures fully funded to the end of 2011. | 2010-04-16 | ||
| TOP PICK | Suncor Energy Inc | SU-T | 33.650 | Had problems with upgrader fires and weaker earnings because of integration. World-class management team and resources. Production is ramping up. Next few quarters will look poor but he is looking for production to go up 2.5 fold in 5 years. | 2010-04-16 | ||
| PAST TOP PICK | Enbridge | ENB-T | 49.470 | (A Top Pick Apr 12/09. Up 37.4%.) Probably the most expensive pipeline company in North America but has growth. | 2010-04-16 | ||
| PAST TOP PICK | Emera Inc | EMA-T | 24.420 | (A Top Pick Apr 12/09. Up 24.6%.) Solid and stable. | 2010-04-16 | ||
| BUY | Baytex Energy Trust | BTE.UN-T | 33.680 | Ideal model for a royalty trust. Fairly high income producing company. Key catalyst for growth is their Seals project in the oil sands, which has 5 billion barrels of oil in place. | 2010-04-16 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Short selling. You don't want to do it on trusts as you will be responsible for the distributions. You could consider gas weighted names such as Compton Petroleum (CMT-T) or Iteration (ITX-T). | 2010-04-16 | ||
| BUY on WEAKNESS | Petrobank Energy and Resources | PBG-T | 52.450 | Valuation is relatively fair here. The Thai process still has to be proved. | 2010-04-16 | ||
| BUY | Pacific Rubiales Energy Corp. | PRE-T | 19.840 | Has had a great run but expects it to go higher. Production is ramping up. World-class field in Colombia. | 2010-04-16 | ||
| SELL | Claymore Natural Gas Commodity ETF | GAS-T | 3.630 | That gas is settled out at a reasonable range and downside is fairly limited. Most of the ETFs go to the market and buy future delivery of the commodity so rebalancing is sometimes monthly, sometimes daily. Given the shape of the curve, he would be a seller. | 2010-04-16 | ||
| DON'T BUY | Encana Corp | ECA-T | 31.470 | A benchmark name in the gas world. He sold his shares because he is bearish on gas. Earnings profile is very dependent on locked-in and hedging it becomes harder. | 2010-04-16 | ||
| Comment | Oilexco Inc | OIL-X | 0.145 | 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 | ||
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| HOLD | Bankers Petroleum | BNK-T | 8.500 | Looking out 2 years or other bit longer you should be in great shape. Currently producing around 9500 BOE's. The problem is, it is growing very fast and will eventually bring on another 15,000-20,000 but it's pricing reflects 30,000. | 2010-04-16 |
