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| Jonathan Baird of Nexgen Financial |
|---|
| 36 Toronto Street |
| Suite 1070 |
| Toronto ON |
| M5C 2C5 |
| (416) 506-8403 |
| Jonathan Baird's website |
| Toll Free: (800) 363-2749 |
| Fax: (800) 593-5630 |
| mailto:nexgenfinancial@ifdsgroup.com |
| BUY | Connacher Oil and Gas | CLL-T | 4.560 | Heavy oil out west. Just moving into production with their first project. Well run. Heavy oil projects are coming in on time and on budget. Reasonably priced at a bit of a discount to its NAV. If oil prices continue high, NAV’s for heavy oil producers will move up fairly dramatically in the next few years. | 2008-05-14 | ||
| BUY | Tusk Energy | TSK-T | 2.470 | Has done very well over the last few months. Primarily gas. All activity is in Western Canada, so no geopolitical risk. Trades at a good discount to its NAV and only about 3X next year's cash flow. | 2008-05-14 | ||
| BUY | Eastmain Resources Inc | ER-T | 1.500 | Gold exploration in the James Bay area of Quebec. Will have a very active drill program in 2008. Price will be driven on news. Had some interesting early drill results. Real future will be determined on its drill results this year, which are going to be substantial. Deserves a small space in the portfolio for its speculative appeal. | 2008-05-14 | ||
| WEAK BUY | CGX Energy Inc. | OYL-X | 2.850 | Prospecting for offshore oil in Guiana. There was a border dispute between Guiana and Suriname that affected their holdings. Settled favourably and stock shot up but has since pulled back. Holdings are deemed to be highly prospective with a potential for billions of barrels of oil eventually. Still early days. Doesn't expect much production before 2012. Very attractive risk/reward holding. | 2008-05-14 | ||
| BUY | Chinook Energy Inc | CKE-T | 7.550 | An attractive company. More gas oriented. Well run. Over a 2 - 3 year time horizon it will do quite well. | 2008-05-14 | ||
| HOLD | Equinox MineralsLtd. | EQN-T (Dead) | 4.620 | Substantial company with a market cap of $2.8 billion. Active in Zambia and will actually be producing copper in the next couple of months. One of the most prolific and larger copper resources globally. Also a prospective uranium mine, which won't go into production for some years. Hit recently with government’s more restrictive tax regime. Bit of a takeover premium in the stock. | 2008-05-14 | ||
| TOP PICK | Cinch Energy Corp | CNH-T (Dead) | 1.660 | Gas producer in central Alberta. Very inexpensive in terms of price to cash flow at just over 3X next year's. Trading at about 65% of the NAV. | 2008-05-14 | ||
| TOP PICK | Alberta Clipper Energy | ACN-T (Dead) | 2.850 | Alberta/B.C. based company. Hurt last year when the Alberta government imposed royalty changes on the light oil producers. Well run. Trades at a discount to NAV and about 3.5X next year's cash flow. | 2008-05-14 |
