| STRONG BUY | | Bankers Petroleum | BNK-T | 1.290 | On the Albania side they announced 5800 BOE’s a day and hoping to exit this year at 7000 next year at 10,000. Big upside in terms of exploration and development work. | 2008-07-25 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil Prices: $147 was pushed up for speculative reasons as well as concerns about US storage and Iran’s sabre rattling. He is looking for a price between $100 and $125 for the next few quarters and then the upside will probably be moved to new highs above the $147 in the winter of 08/09. This is a short-term window of lower prices. Enjoy it. Keep your tank full on cheap days. | 2008-07-25 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural Gas: Was trading at $13.69 and backed off to about $9. $9 to $9.50 is a very cheap price and stocks are very cheap. Winter of 08/09 we could see much higher prices. Hurricane season really starts in August and September. Inventories are still very tight in the US and we could see prices rebound and even quicker than for oil. | 2008-07-25 | |
| Comment | | BNK Petroleum | BKX-T | 1.460 | A spin-off from Bankers Petroleum (BNK-T). Shale gas in the US. He doesn’t follow this one. | 2008-07-25 | |
| Comment | | Vast Exploration Inc. | VST-X | 0.700 | Kurdistan play. Have some very good people. Partner and operator is Niko Resources (NKO-T), which has fabulous expertise internationally. Very cheap. Would prefer WesternZagros (WZR-X) that is closer to drilling. Still have to do seismic and interpret it for their Black Mountain play. Could be drilling sometime in 2009.At some point it will be a name that people will be shopping for. | 2008-07-25 | |
| Comment | | WesternZagros Resources Ltd. | WZR-X | 2.580 | Oil in Kurdistan. Already drilling and already have a rig. They will be at target depth in September. | 2008-07-25 | |
| BUY | | Questerre Energy | QEC-T | 3.200 | Key for them is the million gross acres in Quebec. Has about 30% and partners are Talisman (TLM-T), which knows shale plays and Forest Oil (FST-N). Forest is drilling right now and starting in the fall Talisman will drill their other 3 plays. | 2008-07-25 | |
| BUY | | Oilexco Inc | OIL-T | 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 | | Accrete Energy Inc. | GZ-T | 5.800 | Just received an offer to be acquired by Pengrowth (PGF.UN-T). They get the Harmattan holdings and the remaining properties will be spun off into a new company, possibly called Argosy Resources. If you own, tender to the takeover. You should also take advantage of being able to buy the shares in the new company. | 2008-07-25 | |
| Comment | | Solana Resources Ltd. | SOR-X | 4.430 | Costayaco4 tested some very good results and was way thicker than people had thought. Waiting to see the results from this well. They will then drill C5 and C6 later this year. Reasonably valued at the present time. There are cheaper stories available at this point. | 2008-07-25 | |
| TOP PICK | | Canadian Superior Energy Inc | SNG-T | 3.860 | Producing about 4500 BOEs a day in Western Canada. Have exciting discoveries in Trinidad. First play was Victory. Just announced they cased and logged Bounty well and are testing and should know in 2 or 3 weeks. They will then drill the 3rd play Endeavour. Could be a multi-TCF discovery. | 2008-07-25 | |
| TOP PICK | | Delphi Energy Corp. | DEE-T | 2.570 | Just announced an acquisition of natural gas assets of 6500 BOEs a day. This makes their total numbers averaging 6600, which will rise to 8000 next year. Doing about $1 annualized cash flow and he sees $1.30 next year. Inordinately cheap. | 2008-07-25 | |
| TOP PICK | | Niko Resources | NKO-T | 80.500 | Offshore East Coast India. Starting to ramp up production in September/October for the natural gas, which will quadruple their production. Going to go from 80 million a day to over 250 million in the next couple of quarters. Will also be bringing on an oil play and also doing some oil exploration. | 2008-07-25 | |
| TOP PICK | | Oilexco Inc | OIL-T | 16.550 | (A Top Pick July 20/07. Up 18%.) Looking for over 40,000 BOEs a day by the end of 2008, 65,000 in 09 and 100,000 by 2010. Well financed and have rigs. | 2008-06-05 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil: Physical demand now is about 86 million barrels, which is about what is in storage. Summer driving season will pick up another half million barrels. Going into the winter demand could be 88 to 89 million. With 86 million in storage inventory is very tight. Oil prices will be considerably higher. Could back off another $10 in the next month and that's when you should be looking to buy. High impact exploration companies can be taken on now. (See his 3 top picks.) | 2008-06-05 | |
| PAST TOP PICK | | Solana Resources Ltd. | SOR-X | 4.300 | (A Top Pick July 20/07. Up 123%.) He has taken some of his profit off the table. Stock is in a Holding pattern now. | 2008-06-05 | |
| TOP PICK | | Sterling Resources | SLG-X | 2.840 | (A Top Pick July 20/07. Down 1%.) By 2010 they'll be having first production from UK and offshore Romania. He has them ramping up to full production of 30,000 BOE's by 2012. Will start drilling in July. | 2008-06-05 | |
| TOP PICK | | Canadian Superior Energy Inc | SNG-T | 4.330 | Victory well offshore Trinidad at 600 BCF. Bounty could be complete by the end of June and then they have 1 more well to drill. If Bounty is successful, his $5.80 target could go up materially. | 2008-06-05 | |
| HOLD | | Bankers Petroleum | BNK-T | 2.150 | Albania. Producing about 5400 BOE's a day in Q1. Expecting them to exit the year at about 7000. At the end of June, they are going to spin off the US shale gas play into a separate company. Expecting a 3 for 1 reverse split. | 2008-06-05 | |
| BUY | | Niko Resources | NKO-T | 93.980 | Will probably quadruple production in July and August. D6 is coming on stream. Oil play will be on in July. Large ramp up in natural gas. | 2008-06-05 | |
| BUY on WEAKNESS | | Gran Tierra Energy Inc. | GTE-T | 6.100 | 2043 BOE’s a day in Q1. Guayuyaco wells in Columbia can do over 3000 a day. Need to expand the pipeline system. Looking to do 7000 by the end of this year. As volumes ramp up in latter half of 2008 the stock will start to move again. The next couple of months it will be in a holding pattern. | 2008-06-05 | |
| BUY | | Tusk Energy | TSK-T | 2.770 | 4200 BOE is a day in Q1. Think this will go to 7000 by the end of 2008 and averaging 7500 in 2009. After spring break-up, they will move 3 rigs in. Think they'll drill 50 wells this year and 50 next. | 2008-06-05 | |
| BUY | | Delphi Energy Corp. | DEE-T | 3.130 | 16% oil and 84% natural gas. 6056 BOE’s a day in Q1 and looking for 6400 average for 2008. $90 million of debt, which the company plans to pay down. | 2008-06-05 | |
| WATCH | | Ivanhoe Energy | IE-T | 3.130 | Recently announced buying Talisman’s (TLM-T) heavy oil assets. Have technology for treating heavy oil. If it works and can use it in more than the Talisman’s project it could be a big home run. Would like to see this proven before he buys. (Maybe at $5 with a run to $10.) | 2008-06-05 | |
| BUY on WEAKNESS | | Talisman Energy | TLM-T | 23.620 | Feels we are in a quiet period before the summer driving season and this stock could have a correction. Would be a buyer below $20. | 2008-06-05 | |
| BUY on WEAKNESS | | UTS Energy | UTS-T | 5.800 | Everybody's worried about CO2 emissions and labour and rising costs. Would be a buyer in the low $5’s. Until the project is completed, you won't see big moves. | 2008-06-05 | |
| BUY on WEAKNESS | | Galleon Energy Inc. (A) | GO.A-T | 18.200 | About 50-50 oil and gas. In the Montne gas play. Think they will average just over 19,000 BOE’s a day this year. A quality name. A table-pounding buy at $16.50. | 2008-06-05 | |
| Comment | | Vast Exploration Inc. | VST-X | 0.750 | Partnered with Niko (NKO-T) in the Kurdistan play and he likes the story. Very high risk/high reward story. Drilling will probably not occur until later this year or early 2009. Would rather own it through Niko. | 2008-06-05 | |
| BUY on WEAKNESS | | Petro-Can | PCA-T | 58.700 | The big cap companies are going on a lot higher but buy them on weakness. They refining and marketing business has been sloppy because of the political football when we are at the pump. Over time, they have to start making more money in refining if they are going to expand. A good story. Would buy under $51/$52. | 2008-06-05 | |
| Comment | | Twoco Petroleums Ltd. | TWO-X | 3.400 | Natural gas. Have some very high impact plays. Doesn't know enough about it to comment. | 2008-06-05 | |
| BUY on WEAKNESS | | Paramount Resources | POU-T | 18.040 | Q1 numbers were not as robust as expected. With a higher natural gas prices, a lot of companies are beating cash flow because gas prices are higher than what analysts are using in their models. Is hoping that the bump up in production will come in the 2ND and 3rd quarters. If that happens, you may see a stock price in the mid-$20's. Buy under $17. | 2008-06-05 | |
| Comment | | Bridge Resources | BUK-X | 1.450 | In the process of drilling a high impact well in the UK North Sea. Will probably know within 30 days if it is successful. Very good management. If the well comes in and they have the ability to bring it on, they have other land blocks as well. They don't have rigs under contract, which could create delays. | 2008-06-05 | |
| TOP PICK | | Oilexco Inc | OIL-T | 13.720 | (A Top Pick Apr 24/07. Up 57%.) Doing about 23,000 BOE's a day and expects it to be 45,000 with $4/$5cash flow by year-end including their Shelley play. Huntington is showing very thick pay zones that could net 50,000 BOE’s a day by 2011. Cash flow could be $14/$15 a day by that time. Still doing new exploration work. | 2008-04-04 | |
| TOP PICK | | Niko Resources | NKO-T | 83.210 | East/West coasts of India. Joint venture with Reliance Industries on the east coast will be bringing on a gross 40,000 BOE's a day (4,000 to them) of oil at the end of Q2. At the end of Q3, they will be bringing on 2.8 BCF a day of gas, of which 280 million a day is theirs. Continuing to drill. | 2008-04-04 | |
| TOP PICK | | Profound Energy Inc. | PFX-T | 3.660 | Natural gas. Doing about 3500 BOE's a day. Just did an acquisition of Defiant Resources (DFR-T). With exploration and the acquisition, they should do 4500 BOE's a day by the end of the year. That should give about $1.50 in annualized cash flow making it about 2.5X cash flow and it deserves way more than that. | 2008-04-04 | |
| PAST TOP PICK | | Bow Valley Energy | BVX-T | 5.350 | (A Top Pick Apr 24/07. Down 10%.) Still likes the story. Ramping up production in the UK North Sea and drilling in Alaska. The market punished them because of delays in production. In a holding pattern until new production comes on, which he expects will be by the end of this year. | 2008-04-04 | |
| PAST TOP PICK | | Galleon Energy Inc. (A) | GO.A-T | 14.930 | (A Top Pick Apr 24/07. Down 13%.) 50/50 oil and gas. Thinks by Winter 08/09 there will be $12 natural gas. | 2008-04-04 | |
| HOLD | | Petro-Can | PCA-T | 46.210 | Involved in a large number of products in the UK North Sea. Refining and marketing margins came down because of a glut of gasoline in the system. Prices should firm up during the driving season of summer. Likes their exploration. Good for a conservative investor. | 2008-04-04 | |
| BUY | | Sterling Resources | SLG-X | 2.470 | Had 3 successes with the drill bit. Partnered with Oilexco (OIL-T) in the North Sea on the Sheryl play, which could add 3500 BOE's a day. Have also had 2 gas successes, Breagh and Doina where they will do more delineation drilling. In the 4th quarter it will be drilling another exploration well in the North Sea. Hold for 3 or 4 years. There should be quite a bit of upside. | 2008-04-04 | |
| HOLD | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural Gas: - The shoulder season would normally give a back off in prices. However, he is seeing many stocks that are trading at 2X or 3X cash flow, and should be trading at 6X cash flow. Never got the bounce they should have. Would hold your positions and not try to play games. | 2008-04-04 | |
| HOLD | | Alberta Oil Sands | AOS-X | 0.630 | Has a number of issues with this one including the government fiscal regime changes and the shortage of labour. The new partnership with Connacher (CLL-T) gives them the ability and a strategy as to how to bring the production on. | 2008-04-04 | |
| WAIT | | Bankers Petroleum | BNK-T | 1.690 | Has already gone through his target so it is still under review. Going after other fields in Albania. High recovery potential. Any time a stock doubles in 3 months, there's going to be backing and filling so you might want to wait before buying. | 2008-04-04 | |
| BUY | | Solana Resources Ltd. | SOR-X | 3.450 | 50% partnership with operator Gran Tierra (GTE-T) in a project in Colombia. Fabulous wells. Have drilled Costayaco2 and are now drilling Costayaco3. There could be 10 wells in this play. He doesn't know how big it is. In his models, he is using 30 million barrels of recoverable oil. Use a 2, 3 year time horizon. | 2008-04-04 | |
| BUY | | Gran Tierra Energy Inc. | GTE-T | 3.920 | Operator in a 50% partnership with Solana (SOR-X) in a project in Colombia. Fabulous wells. Have drilled Costeyaco (?) 2 and are now drilling Costeyaco (?) 3. There could be 10 wells in this play. He doesn't know how big it is. In his models, he is using 30 million barrels of recoverable oil. Use a 2, 3 year time horizon. | 2008-04-04 | |
| HOLD | | Connacher Oil and Gas | CLL-T | 3.370 | Bringing up a new heavy oil project and bring in it on in a modular system. Costs have been very high with labour and materials steel. They are now getting to the point of getting the modular system to work. As they ramp up production and if oil prices stay strong, it should go back through the old time highs. | 2008-04-04 | |
| BUY | | Canadian Superior Energy Inc | SNG-T | 3.020 | Has operations in Western Canada of about 4300 BOE's a day and a drawing some wells that could take it to 5000 giving it $1 in value. Also had success offshore Trinidad. Drilling a new well called Bounty, which will take us through to June. Very cheap. | 2008-04-04 | |
| DON'T BUY | | Petrolifera Petroleum Ltd. | PDP-T | 9.890 | Have done very well with the drill bit. Their problem is Argentina, which is using extortionist tactics that when oil gets above $45 there is no payday so netbacks are very low. | 2008-04-04 | |
| HOLD | | Anderson Energy Ltd. | AXL-T | 3.570 | Gas focused and with gas prices recovering this one has had a bounce. He feels that gas prices will go back up to about $12. If this happens in the winter of 08/09 this should reach a new high. | 2008-04-04 | |
| BUY | | Ensign Resource Service Group | ESI-T | 20.920 | Likes the story on this one. | 2008-04-04 | |
| DON'T BUY | | Falcon Oil & Gas | FO-X | 0.680 | This has been a very ugly situation. They spent a lot of money in Hungary. Very deep wells. Costs per well are very high. Fundamentals are still very tough. Total rank speculation. | 2008-04-04 | |
| DON'T BUY | | Questerre Energy | QEC-T | 0.990 | Massive move from $.40 to $1 in one week because of its partner Forest Oil Corp’s announcement of large discoveries in Quebec. Their major partner, Talisman (TLM-T) will be going back to do more seismic and drilling. A shale gas play that will take a lot of time. Have to figure out the fraqing capability. Could be a very valuable asset longer-term, but could take years before becoming a major revenue and cash flow. Liked it at $.40. | 2008-04-04 | |
| Comment | | Pan Orient Energy | POE-X | 10.100 | Oil story in Thailand. Have some fabulous wells. Stock is having a cool off period here. If they can have continued success on the drill bit in their new volcanic play and the higher oil prices are there, the stock should rebound. | 2008-04-04 | |
| DON'T BUY | | Candax Energy Inc. | CAX-T | 0.780 | Had a bounce recently because of their production from the El Bibane field, which was having some problems. Tunisia is a tough basin and they did not have the success expected on the gas and oil. He is sceptical on Tunisia. | 2008-04-04 | |
| STRONG BUY | | Delphi Energy Corp. | DEE-T | 1.920 | Natural gas. He is positive on this story. Thinks the company will ramp up production. Currently around 5600 BOE's a day and think it will average about 6400 a day and potentially exit the year at 7000. | 2008-04-04 | |
| TOP PICK | | Delphi Energy Corp. | DEE-T | 2.310 | Natural gas. Exited the year at over 5880 cities and he sees them doing over 6100/6200 BOE’s and exiting the year at 7000. Generates cash flow of $1.20, so is trading at under 2X cash flow. NAV is about $2.85. | 2008-03-07 | |
| TOP PICK | | Oilexco Inc | OIL-T | 14.820 | Producing about 22,000/23,000 BOEs a day in the North Sea and will be ramping this up. Holding at its current level because the market wants to see the ramp up as they bring gas separation equipment on. Have also has some good success with the drill bit. See them producing 100,000 BOE's a day by 2010, and generating cash flow in excess of today’s stock price. Could see this as a $40/$50 stock over the next 3 to 4 years. | 2008-03-07 | |
| HOLD | | Husky Energy | HSE-T | 42.400 | Likes the mix of assets. The only limiting factor in the near term is refining and marketing margins may get hit, as there is enough gasoline in storage. Expecting all-time highs sometime this year. For conservative investors, it makes a lot of sense. | 2008-03-07 | |
| DON'T BUY | | Gentry Resources Ltd | GNY-T | 2.980 | Badly missed production numbers recently. Natural gas prices are recovering. Bought out Bow Valley’s western Canadian assets. They have to execute better. | 2008-03-07 | |
| BUY | | Galleon Energy Inc. (A) | GO.A-T | 16.500 | Likes this one a lot. The key thing for them is the big ramp up in production. Think they will be over 20,000 BOE’s a day in the near term because of their acquisition of ExAlta Energy. Have about a 50-50 mix. Have been focusing on the oil side because of the higher commodity price. Their Pasqua play is a great oil play and could have some very strong production numbers. | 2008-03-07 | |
| HOLD | | Bankers Petroleum | BNK-T | 1.370 | Gone through his target in the last couple of weeks, so he now has it under review and is waiting for the year-end data. Management has a fabulous track record. Taking a heavy oil with very low recovery rate and are putting in steam injection that could increase materially the production. | 2008-03-07 | |
| Comment | | Encana Corp | ECA-T | 76.260 | Largest natural gas player in North America. The class act in the natural gas business. Feels natural gas prices will be averaging $9 in the next few years with spiking prices to $12 or more. Can see a takeover potential, as a lot of major international companies are not growing. | 2008-03-07 | |
| DON'T BUY | | First Calgary Petroleums | FCP-T | 2.870 | Liquid rich gas and some oil in Algeria. Very good success with the drill bit. Problems are twofold. 1) How much money are you going to make at the end of the day with the Algerian government? 2) They need hundreds of millions of dollars to bring this project into existence. Too risky even for him. | 2008-03-07 | |
| TOP PICK | | Accrete Energy Inc. | GZ-T | 4.750 | With natural gas prices recovering, he sees them trading at under 2.5X cash flow. NAV shows to be $7. At the current price, it is trading at a very significant discount. Production results should come out in the next week or two. | 2008-03-07 | |
| HOLD | | Solana Resources Ltd. | SOR-X | 2.950 | Has this under review. Have one rig and are talking about bringing in a second. Will be testing Costayaco 3 and there should be some announcements in the next week or two. Costayaco 1 is producing 3500 BOE's b-day. Costayaco 2 tested over 6600 but they don't have enough take away capacity so they have to build pipelines, which will take until 2009. | 2008-03-07 | |
| BUY | | Gran Tierra Energy Inc. | GTE-T | 3.430 | Operator in the Costayaco play in Colombia along with Solana (SOR-X). Looking into getting a 2nd or even a 3rd rig. | 2008-03-07 | |
| HOLD | | TriStar Oil & Gas | TOG-T | 14.750 | Has done fabulously well since its acquisition of Real Resources. They are in Saskatchewan, which tax regime-wise, is a lot more attractive than Alberta. The further acquisitions they have made on the oil side have been very attractive. Thinks it has some further ground on the upside but has had a massive run so wouldn't chase it. | 2008-03-07 | |
| BUY | | Niko Resources | NKO-T | 88.250 | Natural gas on India's east coast. Doing about 80 million a day and will be ramping it up to 280 when the D6 project comes on. Will gross 2.8 BCF a day and they have 10%. Real upside starts at the end of the 2nd quarter. Will also be bringing on oil at 40,000 BOE's a day and they have 10%. More exploration to be done in this area. Also got a deal in Pakistan. | 2008-03-07 | |
| Comment | | Grand Banks Energy Corp. | GBE-X | 2.040 | 2 attractive assets. Have a piece of Tower Creek, a very big sour gas well in Alberta as well as an oil play in Saskatchewan/Manitoba area, which could be similar to the Bakken trend. Company is up for sale. | 2008-03-07 | |
| TOP PICK | | Oilexco Inc | OIL-T | 12.410 | (A Past Top Pick Jan 23/07. Up 57.7%.) Doing about 25,000 BOE's per day out of the Brenda/Nicol play and doing cash flow of about $2. Will be bringing on the Shelley play this year and more stuff around Brenda/Nicol and should be about 50,000 barrels by the end of 08. In 09 looking for them to bring on Huntington as well as other plays with Nexen (NXY-T). Sees cash flow greater than today's stock price by the end of 09 or 10. | 2008-01-24 | |
| TOP PICK | | Niko Resources | NKO-T | 82.830 | Involved with Reliance Industries to bring on a play D-6 that will ramp up to 50,000 barrels a day and then will bring on about 2.5/2.6 of gas. When that comes on, it will be over 400 million a day equivalent and generating over $11 of cash flow. Use any weakness to Buy. | 2008-01-24 | |
| TOP PICK | | Sterling Resources | SLG-X | 2.650 | They have had 3 successes so far. Thinks cash flow in 2011/2012 is greater than today's stock price. | 2008-01-24 | |
| PAST TOP PICK | | Galleon Energy Inc. (A) | GO.A-T | 13.500 | (A Past Top Pick Jan 23/07. Down 11.1%.) Really likes the story. About 50/50 in oil/gas. Buying out Exalta Energy (EXA-T), which will take them to about 20,000 BOE's a day compared to 8600 in 2006. Have high impact wells that are affected by the Alberta legislation. Expecting cash flow of about $3.20 at the end of 08. Very cheap. Balance sheet in good shape. Hold. | 2008-01-24 | |
| PAST TOP PICK | | Accrete Energy Inc. | GZ-T | 4.090 | (A Past Top Pick Jan 23/07. Down 24%.) 71% natural gas. Doing about 3400 BOE’s a day and could go north of 4400. Thinks they will do over $2 in cash flow sold stock is trading at 2X cash flow. $56 million debt, about 2X cash flow, which is why it has not recovered as quickly as others. NAV in the 3rd quarter of 07 was over $8 a share. Hold. | 2008-01-24 | |
| Comment | | Tusk Energy | TSK-T | 1.560 | He is in the camp that believes natural gases will firm up by the 4th quarter of 09. Think they will exceed 5500 BOE's a day by the end of 08 and generating about $.70 in cash flow, so is trading about 2X cash flow. NAV is about $2.60. Balance sheet is in pretty good shape. | 2008-01-24 | |
| DON'T BUY | | Pan Orient Energy | POE-X | 11.620 | Drilling in Thailand. Doesn't cover this one and doesn't know enough about the size and quality of reservoirs. Have some fabulous wells. If they keep on having the same success, it could go on a lot higher. A one-play story in one country. He prefers 2 or 3 different countries or bases. | 2008-01-24 | |
| Comment | | Trilogy Energy Trust | TET.UN-T | 6.990 | Company is paying out about 50% of their cash flow. If natural gas prices recover to $9 in Q4 of 08 and prices firming up from their, then royalty trusts should see significant upside. Distribution should be safe. | 2008-01-24 | |
| DON'T BUY | | Gentry Resources Ltd | GNY-T | 2.020 | Natural gas. This one has been troublesome. Missed their numbers even after the acquisition of the Bow Valley’s (BVX-T) assets. Change that the Alberta government has put through is a negative. | 2008-01-24 | |
| BUY | | Talisman Energy | TLM-T | 16.450 | Load up the truck. This is so cheap. It's a lot of oil, international, Malaysia, Vietnam, North Sea, Canada for gas. It may take 2 years for the markets to realize the value of these companies. | 2008-01-24 | |
| BUY | | Nexen Inc | NXY-T | 28.180 | Very attractive. At some point, the large international companies will be looking to get into countries where they have more security of supply and where there is upside in the drill bit. It may take 2 years for the markets to realize the value of these companies. | 2008-01-24 | |
| Comment | | Tyler Resources Inc | TYS-X | 1.540 | This company is going to be taken over by Chinese interests at $1.60 in cash sometime in February. | 2008-01-24 | |
| HOLD | | Bankers Petroleum | BNK-T | 0.770 | Doing about 5000 BOE’s a day and will be growing to 10,000. Have been adding to their production in Albania. CEO of Rally Energy (RAL-T) will be coming on and this move the stock a lot higher. Also doing steam flood to get higher recovery. Will probably spin off US tight gas assets into a separate company. | 2008-01-24 | |
| BUY | | Canadian Superior Energy Inc | SNG-T | 3.610 | Offshore Trinidad discovery is significant with 600 BCF’s. Thinks they have 1/3 of this play. Now testing one more zone in that play so the news could get even better. Potentially there could be 3 TCF here. Over the next year there is a lot of high impact drilling. | 2008-01-24 | |
| HOLD | | TriStar Oil & Gas | TOG-T | 12.660 | Has done well since the merger with Real Resources. Operationally, management is very confident. Have assets in Alberta and Saskatchewan. Has a mix of oil and gas. Good balance sheet. | 2008-01-24 | |
| Comment | | Solana Resources Ltd. | SOR-X | 2.900 | Their key play is a fabulous well, Costayaco in Colombia. Half belongs to Gran Tierra (GTRE-Q2). Also bringing in a rig to drill 5 other high impact wells this year. Very close to his $3 target now and he is putting the stock under review until he hears about Costayaco2. If it is as good, he would probably have a $4 target. Prefers Gran Tierra (GTRE-Q2), which is cheaper but is waiting for it to get its TSX listing. | 2008-01-24 | |
| Comment | | Gran Tierra Energy | GTE-A | 2.780 | Owns half a fabulous well, Costayaco in Colombia. The other half belongs to Solana (SOR-X). This one is cheaper is cheaper but is waiting for it to get its TSX listing. Also have assets in Argentina and many millions of acres in Peru, which they will farm out to the big boys | 2008-01-24 | |
| HOLD | | Petro-Can | PCA-T | 46.970 | If he is right about the natural gas prices recovering and the material breach of $100 in oil, they will punch through that July/August high of $60. | 2008-01-24 | |
| HOLD | | Imperial Oil | IMO-T | 48.330 | If he is right about the natural gas prices recovering and the material breach of $100 in oil, they will punch through their July/Aug highs, north of $55. | 2008-01-24 | |
| Comment | | Compton Petroleum | CMT-T | 9.050 | Natural gas. Sold off a lot of their oil assets. They need natural gas prices to go back to $9 or higher. Not a great growth story but they have good assets. | 2008-01-24 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil: For the first time, in 2007, physical demand of about 87 million barrels was greater than physical supply of 86 million so inventories drop in prices went up. Believes that in the 2nd quarter of 2008, after Saudi Arabia brings on their new field of 500,000 barrels, there will be no new production coming on from OPEC. We will have to find 4 million or 7 million new barrels a year. It is conceivable that oil will be $150 by 2010. | 2008-01-24 | |
| BUY | | UTS Energy | UTS-T | 5.200 | If he is right about oil going through $100 and moving north of that in the next 2 to 3 years to $130/$150, this company’s stock price will go to all-time highs. There are automatically 2 buyers for the company, Teck Cominco (TCK.B-T) and Petro Canada (PCA-T). Volatile, so you have to have a strong stomach. | 2008-01-24 | |
| DON'T BUY | | Candax Energy Inc. | CAX-T | 0.790 | Involved in Tunisia. The drill bit has not really cooperated the way people thought it would. Still waiting for news on a number of their plays. | 2008-01-24 | |
| Comment | | Stratic Energy Corp. | SE-X | 0.920 | This is a 2009/2010 story. They'll be bringing on production onshore in Italy. Also involved in drilling offshore Turkey and offshore Morocco. Likes the management and the portfolios they have. | 2008-01-02 | |
| HOLD | | Connacher Oil and Gas | CLL-T | 3.830 | Starting to ramp up the production from their heavy oil SAG-D project. Also have natural gas reserves as well as a refinery in the US. As they ramp up production and go to 2nd and 3rd phases over the next few years, the stock could go up materially. | 2008-01-02 | |
| Comment | | International Frontier Resources | IFR-X | 0.830 | Involved in the UK North Sea. In the process of drilling a well with the Lundins that is very important. In about 1 month will start working with Husky (HSE-T) in the North West Territories. Between the winters of 2008 and 2009, you will have a good shot if they have any kind of drilling success. Speculative. May have $.50 in cash per share. | 2008-01-02 | |
| Comment | | TriStar Oil & Gas | TOG-T | 12.980 | Continue to build up their portfolio of the Bakken trend in Saskatchewan. The stock has moved up quite a bit after their merger with Real Resources and thinks there is 30% to 40% upside. | 2008-01-02 | |
| BUY | | Bow Valley Energy | BVX-T | 6.560 | Will be raising production volumes through 8000 BOE's in the latter part of 08 as they bring on Enoch and Chestnut. Target of $9, not including any exploration. Participating in drilling a well in the North Sea as well as Alaska. | 2008-01-02 | |
| BUY | | Solana Resources Ltd. | SOR-X | 2.280 | Along with Gran Tierra (GTRE-Q2) they are drilling an important well, Costayaco 2. Costayaco #1 came in and is in production and tested over 5000 BOE's and producing nearly 3000. Being trucked but will some day be piped. Will be starting on Costayaco 3. Likes the story and that they have a lot of drilling in front of them. | 2008-01-02 | |
| BUY | | Gran Tierra Energy | GTE-A | 2.530 | Drilling an important well, Costayaco 2 in Columbia along with Solana Resources (SOR-X). | 2008-01-02 | |
| BUY | | Vero Energy Inc. | VRO-T | 5.900 | Natural gas. Company continues to excel at drilling the Rock Creek formation and have had a tremendous success rate. Hurt by the new tax regime in Alberta, but because it is such a low-cost operator and they get big production increases, they should do okay. | 2008-01-02 | |
| TOP PICK | | Oilexco Inc | OIL-T | 13.480 | The key is that they are producing from the Brenda fields at 20,000 BOE's, which will be ramping up to 30,000 over the next couple of months. Have a number of projects that they are working on. Could be producing 100,000 BOE’s a day by the end of 2009, which would generate cash flow greater than today's stock price. Still have 2 rigs, one dedicated to development drilling and the other to exploration drilling. | 2008-01-02 | |
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