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| Mason Granger of Sentry Select Capital |
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| PAST TOP PICK | Bonavista Energy Corp | BNP-T | 24.270 | (A Top Pick Oct 22/10. Up 1.92%.) | 2011-10-13 | ||
| DON'T BUY | Connacher Oil and Gas | CLL-T | 0.390 | Very high risk. Very technically adept but have mismanaged the capital structure. Needs $85 oil to cover the interest costs on the debt and finance their capital expenditures. | 2011-10-13 | ||
| Comment | Canadian Natural Rsrcs | CNQ-T | 31.730 | One of the premier large cap stocks in Canada. With Horizon starting up again, they are back to full cash generation mode. Have a fairly large bond that comes due in 2012 making the market a little skittish. | 2011-10-13 | ||
| Comment | Canadian Oil Sands | COS-T | 21.900 | Valuation is kind of compelling. $0.30 dividend would be at risk if oil went down to $70. A “no growth” story for the next decade. | 2011-10-13 | ||
| DON'T BUY | Petrobank Energy and Resources | PBG-T | 7.800 | Used to be an interesting basket of companies. Very high decline rates. Their capital structure is putting pressure on the share price. Some question if the THAI process will work. | 2011-10-13 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas is a bit confusing. He has stayed away from the commodity as much as possible. Sees no fundamental reason why it will be a whole lot better next year. There is still ongoing supply growth in the US. | 2011-10-13 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil. A lot of oil weighted projects make sense around $85. He gets worried when he sees it too much ahead of $100. He sees in the $70 range as a good floor. | 2011-10-13 | ||
| TOP PICK | Trilogy Energy Corp | TET-T | 31.080 | Top performing stock in the energy index. Should still yield strong investor gains going forward. Wells are testing well in the Canadian Western basin. Pool is producing about 5000 barrels a day but could ultimately be 20,000 a day. | 2011-10-13 | ||
| SELL | Daylight Energy Ltd | DAY-T (Dead) | 9.750 | Stock shot up when Sinopec Int made an offer to purchase at $10.08. If you own, he would suggest you take your money and run. There are still some regulatory hurdles. | 2011-10-13 | ||
| HOLD | Bankers Petroleum | BNK-T | 4.220 | Disappointing performer this year but believes in the long term potential of their Albanian oilfield, which is the largest onshore oilfield in Europe. Management has put out unrealistic guidance several times so there is a bit of a credibility problem. | 2011-10-13 | ||
| BUY | Gran Tierra Energy Inc. | GTE-T | 5.800 | Colombia is been a tough place to make money this year. Well financed to weather a downturn in commodity prices. Have a lot of cash and a good solid production base plus an exciting exploration profile. | 2011-10-13 | ||
| STRONG BUY | Arcan Resources Ltd. | ARN-X | 5.180 | (A Top Pick Oct 22/10. Up 11.4%.) Growing very rapidly. Have about a 105 section contiguous block of land in the Swan Hills area. Very prospective for light oil. Very well financed. About $50 million cash and about $120 million line of credit. | 2011-10-13 | ||
| TOP PICK | Wild Stream Exploration Inc. | WSX-X | 9.500 | (A Top Pick Oct 22/10. Up 19.79%.) Shaunavin (?) play in South East Saskatchewan. Also have exposure in Swan Hills. Great balance sheet. | 2011-10-13 | ||
| DON'T BUY | Novus Energy | NVS-X | 0.790 | Southeast Saskatchewan Viking player. Expect they will be a potential acquisition target down the road. Concerned that their reserves are a little aggressively booked. | 2011-10-13 | ||
| TOP PICK | Longview Oil | LNV-T | 9.150 | Paying about 7% dividend yield. Balance sheet is in great shape. About 7000-8000 barrels a day of primarily oil at a very low decline rate. Expecting good growth next year. | 2011-10-13 | ||
| BUY | Bonavista Energy Corp | BNP-T | 25.280 | One of the best dividend paying intermediate companies. Just did a $200 million deal. Continuing to add to their land base. Over 6% yield. | 2011-08-10 | ||
| BUY | Canadian Natural Rsrcs | CNQ-T | 35.350 | One of the premier oil weighted companies in Canada. Has been adding at these prices. Looking for the restart of the Horizons project. | 2011-08-10 | ||
| Comment | Canadian Oil Sands | COS-T | 22.400 | Has intrinsic value and is basically an annuity on oil. Don't expect a lot of growth for 7-8 years. Pays a regular quarterly dividend. Yield of about 5.4%. | 2011-08-10 | ||
| DON'T BUY | Husky Energy | HSE-T | 25.470 | Just did a $1.2 billion stock deal that was of no interest to him. Leadership change was positive. Have been getting better at showing consistent quarterly results. You're only getting a single digit dividend and at best a 3%-5% growth in production. Prefers others. | 2011-08-10 | ||
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| BUY | Suncor Energy Inc | SU-T | 31.280 | Just came through a 6 week turnaround and June-July production was about 95% of their capacity. Thinks there will be some pretty solid operating performances. Trading at a slight discount to its peers. | 2011-08-10 | ||
| PAST TOP PICK | Crescent Point Energy Corp | CPG-T | 40.310 | (A Top Pick June 10/10. Up 10.71%.) | 2011-08-10 | ||
| PAST TOP PICK | Trilogy Energy Corp | TET-T | 24.140 | (A Top Pick June 10/10. Up 161.53%.) Still thinks there is considerable upside from here. | 2011-08-10 | ||
| PAST TOP PICK | Daylight Energy Ltd | DAY-T (Dead) | 7.560 | (A Top Pick June 10/10. Down 15.58%.) | 2011-08-10 | ||
| Comment | Bankers Petroleum | BNK-T | 4.890 | Exposure to 6 billion barrels of heavy oil in Albania. Using Canadian technologies and applying it to old fields. Have had operational hiccups over the last couple of years. This is a volatile stock that can be used as a trading vehicle. Thinks the value will be realized eventually. | 2011-08-10 | ||
| TOP PICK | Arcan Resources Ltd. | ARN-X | 5.950 | 150 sections of contiguous land in an light oil play in the Swan Hills. Expect them to be ultimately taken out by a larger company. | 2011-08-10 | ||
| DON'T BUY | Athabaska Oil Sands Corp | ATH-T | 12.400 | Difficult times since its IPO, which was multiple times oversubscribed. Didn't stay at the IPO price very long before it dropped to $10. He is a little the re-of the long lead times oil sands projects as he expects there will be a. Of cost inflation in this area. | 2011-08-10 | ||
| TOP PICK | Surge Energy Inc | SGY-T | 9.100 | In their former company, this management team posted something like 19 quarters of consecutive growth. Would rank this as a top tier management team. Good landholdings. Expecting them to exit the year at about 7500 barrels. | 2011-08-10 | ||
| DON'T BUY | WestFire Energy | WFE-T | 5.690 | Has been a disappointing performer this year. Very levered to Viking plays in Saskatchewan and Alberta. A challenging play but fairly cheap wells to drill. Prefers others. | 2011-08-10 | ||
| TOP PICK | Longview Oil | LNV-T | 10.400 | Sitting at about 6100 barrels a day. Dividend of about 6%. Because the assets were undercapitalized in the previous company, the decline rates are fairly modest. Have a good inventory of light oil. | 2011-08-10 | ||
| WAIT | Niko Resources | NKO-T | 74.510 | Quite a few unknowns with respect to the gas price negotiations with the Indian Government and their partner Reliance Industries. Drilling some really big elephant frontier type exploration prospects. | 2011-05-04 | ||
| BUY | Suncor Energy Inc | SU-T | 41.800 | Sell off has been confusing. Libyan situation is not immaterial to the company but accounts for less than 2% of the company’s assets and 4% of cash flow. Feels it has more to do with overall sentiment on oil stocks. | 2011-05-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil Stocks. Oil is holding firm above $110 but stocks really haven’t followed oil up as much since the crisis began early this year. Any time you get a really rapid run up in a commodity, it’s generally bad for the economy and you start seeing demand destruction and an impact on retail sales. He would like to see oil modestly lower. | 2011-05-04 | ||
| BUY | Daylight Energy Ltd | DAY-T (Dead) | 10.590 | Long term outlook is stellar. Good production mix between gas and oil so they can toggle their spending between the two as market conditions dictate. Significant gas inventory if there is a rebound in gas. | 2011-05-04 | ||
| DON'T BUY | Galleon Energy Inc. | GO-T | 3.430 | Have not had a good time of things. Let leverage get too high and had to sell key assets that use to be their jewels. Reserve bookings have been in question. Have retrenched and focusing on probable reserves and turning them into proved reserves. Have lost a lot of their luster and the attention of the street. | 2011-05-04 | ||
| BUY | Pengrowth Energy | PGF-T | 12.780 | Bought into this one when they had a management change. It has been a transitional period for them and there is more to come, but he likes what they are doing. Have some pretty solid hedges in place. Great tax pools. Positioning their asset base for long term development. Particularly likes what they are doing in Swan Hills. | 2011-05-04 | ||
| PAST TOP PICK | BlackPearl Resources Inc | PXX-T | 7.550 | (A Top Pick May 7/10. Up 172.7%.) | 2011-05-04 | ||
| Comment | Painted Pony Petroleum | PPY.A-X | 8.960 | Was very much a south Saskatchewan oil but over the years have migrated more. Now more on what’s going on in their acreage in north east B.C. Have multiple TCF’s of gas in place in some of the best Montne. Unfortunately their well costs are about $6 million each, which can be an overwhelming burden to a small company. Good little company and have always run with a solid balance sheet. Well run. | 2011-05-04 | ||
| BUY | Legacy Oil + Gas Inc. | LEG-T | 12.840 | Price is getting a lot more interesting down here. Management has a great track record and street credibility. Did about 10 acquisitions since they started and about 5,000 barrels a day of organic production. You get exposure to the Bakken through a partnership as well as a play in North Eats B.C., which could be pretty big for them. (See Arcan (ARN-X) in Top picks.) | 2011-05-04 | ||
| Comment | Canacol Energy Ltd. | CNE-T | 1.260 | He took profits on his common shares but continues to own a convertible debenture. Big prospects with potentially high impact wells. Spending a lot on exploration activity and when it doesn’t pan out, the stock sells off. | 2011-05-04 | ||
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| TOP PICK | Arcan Resources Ltd. | ARN-X | 4.220 | Plays to the larger theme of the Swan Hills complex in Alberta. A Legacy (LEG-T) oil field that was discovered in the 1960’s. There were 6 billion barrels of oil initially in play. With the advancements in horizontal drilling, they are able to drill up the fringes of the pool. This company was an early entrant into the game. Could be a takeover target. | 2011-05-04 | ||
| WEAK BUY | PetroBakken Energy | PBN-T | 17.240 | Has been chipping away at this one below $20. His view was that if he were going to own a Bakken play with significant scale, it was going to be Crescent Point (CPG-T). Saw Petrobakken as having fringier, lower quality assets with higher declines. Paid too much to get into the Cardium play in Alberta. More attractive in the high teens. | 2011-05-04 | ||
| TOP PICK | Parex Resources Inc. | PXT-T | 7.120 | An exploration company spun out of Petro Andina. Have now bought out their working business partner for $255 million through a convertible debenture and subscription receipts. Trades between 2 and 3 times debt adjusted cash flow. Expecting them to exit this year at 1,400 barrels a day. Cheap. | 2011-05-04 | ||
| DON'T BUY | Emerge Oil & Gas Inc. | EME-T (Dead) | 2.760 | They reactivate old wells and bring them up. Have 300 or more cold heavy oil locations they can drill. Stubbed their toe a couple of times. Recently branched out to some light oil acquisitions. Had some management turnover. | 2011-05-04 | ||
| PAST TOP PICK | Surge Energy Inc | SGY-T | 8.250 | (A Top Pick May 7/10. Up 31.56%.) Very good at amassing land. | 2011-05-04 | ||
| PAST TOP PICK | WestFire Energy | WFE-T | 8.000 | (A Top Pick May 7/10. Up 13.89%.) | 2011-05-04 | ||
| TOP PICK | Longview Oil | LNV-T | 10.800 | New IPO that was spun out of Advantage (AAV-T). NAV is $12.60 so you are getting it at a discount. Relatively shallow decline rate of 18%. 6,200 barrels of oil a day. Good management. Good opportunity to get a current income in the form of a dividend. Good growth prospects. | 2011-05-04 | ||
| TOP PICK | Bonavista Energy Corp | BNP-T | 25.310 | Been buying it recently. Management has an excellent track record. Pays 7 or 8% yield and he is comfortable owning through conversion to corp. | 2010-10-22 | ||
| DON'T BUY | Canadian Oil Sands | COS-T | 26.260 | Disappointing. Market has great expectations. Thought production would be 300 million bpd next year. Potentially a distribution cut with this one. | 2010-10-22 | ||
| DON'T BUY | Encana Corp | ECA-T | 28.260 | The market is very disappointed in their strategy. They made a decision to take their foot off the accelerator. They have a good hedging program. It’s interesting at these prices if there is a bounce off the lows for gas prices. | 2010-10-22 | ||
| PAST TOP PICK | Keyera Corp | KEY-T | 31.070 | (Top Pick Nov 3/09, Up 64.68) Hasn’t sold any. | 2010-10-22 | ||
| PAST TOP PICK | Pembina Pipeline Corp | PPL-T | 21.920 | (Top Pick Nov 3/09, Up 54.47%) Trimmed a little on valuation. Had an excellent run recently | 2010-10-22 | ||
| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | People are giving up on Hat Gas. He thought we may get a bit of a bounce, but not so. It is inescapable not to have some holding of Nat Gas, but he has tried to minimize that. He is bullish on the price of oil on the next 12-24 months. Expected a pullback but did not get what he anticipated. It is putting in a nice base. $90 will be the next stop and before the new year probably. Chinese raising rates had bit of an impact. He is optimistic that the markets are firming here. Sees value in the junior space, rather than the senior space. | 2010-10-22 | ||
| PAST TOP PICK | Pengrowth Energy | PGF-T | 11.760 | (Top Pick Nov 3/09, Up 25.25) | 2010-10-22 | ||
| BUY on WEAKNESS | Bankers Petroleum | BNK-T | 6.880 | One of his highest weightings. Difficult operating report a while ago which makes an opportunity to acquire the stock. | 2010-10-22 | ||
| Comment | Twin Butte Energy | TBE-T | 1.570 | You are not buying this for the gas assets. It is pretty much heavy oil exposure. Cheap stock and looks interesting. He is looking at it. | 2010-10-22 | ||
| DON'T BUY | Vast Exploration Inc. | VST-X | 0.630 | Situation with government in how to share revenues from any oil. Play it through other stocks. There is no infrastructure of getting the oil to market. | 2010-10-22 | ||
| BUY | Canacol Energy Ltd. | CNE-T | 1.730 | He has done very well on it. A terrific run and he is now questioning whether he should be taking profits. So0me news is expected shortly which could be material to their stock price. | 2010-10-22 | ||
| TOP PICK | Arcan Resources Ltd. | ARN-X | 4.650 | Oil weighted junior. Central Alberta. Pretty interesting land at Deer Mountain. Enjoying excellent success there. $7 oil is probably worth $7.80. Drilling risk is always there and ability to manage pressure flood. Financing risk was an overhang for this stock but recently did an issue and had credit updated. | 2010-10-22 | ||
| DON'T BUY | PetroBakken Energy | PBN-T | 22.840 | The assets are not of the quality of Crescent point. It will be a challenge for them. It looks interesting at the $19 range. | 2010-10-22 | ||
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| BUY | PetroMagdalena Energy | PMD-X | 0.750 | They’ve had some success. | 2010-10-22 | ||
| TOP PICK | Wild Stream Exploration Inc. | WSX-X | 7.680 | Oil-weighted Saskatchewan producer. This company is probably worth $11-$12. No debt. Raised capital to expand drilling program. Clean balance sheet. 0 issues with management and he expects CPG will take them out a year from now. Biggest risk is that drilling program does not meet expectations and water flood program doesn’t pan out. | 2010-10-22 | ||
| WEAK BUY | Emerge Oil & Gas Inc. | EME-T (Dead) | 3.280 | Has some appeal. Very cheap company. Heavily oil weighted. They probably have 2 decent years of drilling ahead of them and then how are they going to back the inventory | 2010-10-22 | ||
| TOP PICK | Bonterra Energy Corp | BNE-T | 39.700 | Very oil weighted. Resisted the urge to grow by acquisition so tend to be less liquid but have a great asset. A lot of Cardium locations with a significant inventory ahead of them. Finding/development costs are about $7 only. | 2010-08-31 | ||
| Comment | NAL Energy Corp | NAE-T | 10.730 | When converting he expects they will right size distributions to give a combination of growth and income. Looking for 3% growth so the dividend would come down modestly. | 2010-08-31 | ||
| DON'T BUY | Suncor Energy Inc | SU-T | 32.310 | Looks like they are turning the corner. Had a rough start to 2010 with operational upsets as well as the pain of the merger process with Petrocan. Have a firebag expansion coming on next year so there will be some incremental production growth. There are better places to be. | 2010-08-31 | ||
| Comment | Crescent Point Energy Corp | CPG-T | 37.550 | Good land position, depth of inventory and economics. Pretty excited about what they are doing in terms of getting water flood pilots up and running. | 2010-08-31 | ||
| Comment | Opti Canada Inc. | OPC-T (Dead) | 1.030 | Shares have been particularly weak over the last couple of months because they did a fairly large debt deal. Company has piled on a massive amount of debt onto their capital structure. Have 35% interest in the Long Lake project, which has struggled. | 2010-08-31 | ||
| BUY | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas. Currently we are reaching a peak in terms of pessimism. An opportunity to get invested in high-quality natural gas stocks. Might not be at the bottom but it is certainly coming. Forward future strip has been coming down and you have to go out to about 2015 to find prices above $6. In a seasonal trough where we are maximizing storage. | 2010-08-31 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Oil. Some technicians are calling for oil to weaken to $60 or maybe even $55 this fall. He'll wait to see if this plays out. When he sees oil getting up to $85, he lightens up but when it gets down to high $60's or low $70's, he starts to chip away at names he likes. | 2010-08-31 | ||
| BUY | Delphi Energy Corp. | DEE-T | 2.430 | Hedged about 50% of their gas production and have a pretty good inventory ahead of them. | 2010-08-31 | ||
| TOP PICK | Trilogy Energy Corp | TET-T | 11.050 | Great success drilling Montney. Very low finding/development costs. One that he could sleep at night with. | 2010-08-31 | ||
| BUY | Fairborne Energy Ltd. | FEL-T | 4.250 | Looking at this one closely. Was a trust and converted to a non-dividend paying E&P company. Has been in the “show me” penalty box for while. If they can hit exit guidance and demonstrate success in the Wilrich (Alberta) play there’ll be a gradual re-rating. | 2010-08-31 | ||
| STRONG BUY | Bankers Petroleum | BNK-T | 6.820 | Forecasting 15,000 barrels per day by the end of 2010. Good management. Exclusive access to largest onshore oilfield in Europe (Albania) and have 3 rigs running and expected to add a 4th in Q1. Once they have proved up, he expects the company to be sold at a big premium. | 2010-08-31 | ||
| BUY | RMP Energy | RMP-T | 2.600 | Small natural gas company that you probably can't go wrong on. Good catalyst ahead of it, | 2010-08-31 | ||
| DON'T BUY | Ithaca Energy Inc. | IAE-T | 1.830 | Very cheap at about 1.9X Debt Adjusted Cash Flow basis. Did large equity financing at inopportune times over the last couple of years. Recently did a substantial equity raise. Fully financed until about 2013 for the 2 North Sea projects. Would like to own it when it reaches full development. | 2010-08-31 | ||
| TOP PICK | Canacol Energy Ltd. | CNE-T | 1.390 | Junior Colombian oil player. Excellent management. Impressive land spread with exposure to about 5 to 7 billion barrels of heavy oil in place. Also some exciting exploration prospects in Brazil and Guyana. | 2010-08-31 | ||
| Comment | PetroBakken Energy | PBN-T | 20.130 | Prefers Crescent Point Energy (CPG-T), which has better land position, better depth of inventory and better economics. Has some pretty significant drilling catalysts in the Cardium to come this fall, so wouldn't count them out yet. | 2010-08-31 | ||
| Comment | Emerge Oil & Gas Inc. | EME-T (Dead) | 3.180 | Inventory of about 150 cold heavy oil production wells. Also an inventory of reactive locations of existing wells. Potential to grow significant production over the next couple of years. Low visibility beyond 2 or 3 years of production. | 2010-08-31 | ||
| PAST TOP PICK | Keyera Corp | KEY-T | 27.120 | (Top Pick Nov 3/09, Up 40.14%) | 2010-06-10 | ||
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| BUY | NAL Energy Corp | NAE-T | 11.060 | Core holding for a long time. Lots of confidence for along time. Great land position. Interesting gas properties. Fairly well capitalized. Upon converting to a corp. They should pay a fairly large dividend. Taxable position fairly reasonable. | 2010-06-10 | ||
| PAST TOP PICK | Pembina Pipeline Corp | PPL-T | 17.570 | (Top Pick Nov 3/09, Up 18.00%) | 2010-06-10 | ||
| TOP PICK | Crescent Point Energy Corp | CPG-T | 38.650 | Tough to say anything bad about them. Very leveraged to oil. This is not a high growth stock but you can count on consistent income. 50% hedged and also this year and year after. | 2010-06-10 | ||
| N/A | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Opec would like to see oil in the $75 range. Year to date, European demand has been down. Resurgence in jet fuel in the US. Chinese demand has been up. Natural gas rally is still very weak. We are testing the limits of storage of natural gas. Is paring back natural gas exposure in his portfolios. You get the most torque in the small caps. There’s enough opportunity in Aberta. | 2010-06-10 | ||
| TOP PICK | Trilogy Energy Corp | TET-T | 9.360 | Gas weighted trust. Great job. Tests on wells are in high teens. Excellent job of exploiting the asset. Leverage is a little higher than they like to see but it is 60% owned by others. He is buying it for the yield (6.5%) | 2010-06-10 | ||
| TOP PICK | Daylight Energy Ltd | DAY-T (Dead) | 9.860 | Balanced production oil and gas. Excellent exposure to cardium. Great opportunity in Gas. 6% yield dividend. Thinks they will opt for growth. On of the safer ones to own. | 2010-06-10 | ||
| DON'T BUY | Chinook Energy Inc | CKE-T | 1.640 | Great reputation in the oil patch. Got caught in a tailspin in low commodity prices. Merger with SVI came out of this. Investor uptake has not been that great. | 2010-06-10 | ||
| DON'T BUY | Arsenal Energy Inc. | AEI-T | 0.880 | Management change in 2007. Wanted to be an international oil and gas player. Over the last number of years they did a lot of dispositions and focused on dispositions. Been taking a little off the table. | 2010-06-10 | ||
| PAST TOP PICK | Peregrine Diamonds | PGD-T | 2.010 | (Top Pick Nov 3/09, Down 1.17%) Poorest performer. Still own and have a lot of confidence in management. Going through a period of change. | 2010-06-10 | ||
| BUY | Bankers Petroleum | BNK-T | 6.860 | Caller: Why has this one not spikes higher? This is one of the international ones he follows. It’s easy to look at this stock and see a base in around where it is trading. Recoveries in the field are in the order of 2%. Tried and true team. Upside is pretty huge here. Could get to $20 but not where he is looking. | 2010-06-10 | ||
| BUY | Questerre Energy | QEC-T | 3.070 | Geology is fairly complex. Prefers to play through Talisman. | 2010-06-10 | ||
| VAGUE | Emerge Oil & Gas Inc. | EME-T (Dead) | 3.290 | Pretty good inventory of old oil wells. Get them production again. Rates of return in the 100s of percent. The opportunities are a little less than they want to see. Not the top of their list. | 2010-06-10 | ||
| BUY | Connacher Oil and Gas | CLL-T | 1.580 | Just completed construction of their 2nd phase of growth, their 10,000 barrels a day of their SAGD plant and are just starting it up now. Demonstrated a good track record of been able to do this on time and on budget. | 2010-05-07 | ||
| Comment | Canadian Natural Rsrcs | CNQ-T | 72.000 | Had anticipated the correction of 10%. Spinning off a lot of free cash flow now. Would be comfortable owning at this price provided there wasn't a further pullback in the market. | 2010-05-07 | ||
| Comment | Husky Energy | HSE-T | 26.740 | Very low leverage so dividend is probably safe. From total return perspective, it doesn't stand out for him as meeting their hurdles. Will probably generate production growth of 2% plus you get a small dividend yield. | 2010-05-07 | ||
| PAST TOP PICK | Keyera Corp | KEY-T | 26.040 | (A Top Pick Nov 3/09. Up 34.63%.) | 2010-05-07 | ||
| PAST TOP PICK | Pembina Pipeline Corp | PPL-T | 17.940 | (A Top Pick Nov 3/09. Up 23.11%.) Still a Buy. Very low probability that they will cut distributions. | 2010-05-07 | ||
| BUY | Crescent Point Energy Corp | CPG-T | 40.840 | Petrobakken (PBN-T) or Crescent Point (CPG-T)? He prefers this one. (See comments under PBN-T for Petrobakken.) Have a pilot program on for water flood in their Viewfield Bakken and are looking to do a 2nd and 3rd pilot. Talking of bringing recoveries up to 30%. | 2010-05-07 | ||
| DON'T BUY | Penn West Petroleum | PWT-T | 18.580 | Wrestled with sizable decline rates with higher than average debt levels. Did a pretty decent job of asset sales recently so have a little bit more flexibility. Production dropped from about 200,000 BOE's to 165,000. Have some excellent assets. Questions how the transition from a growth oriented E&P company going to take place when they convert to a corporation. | 2010-05-07 | ||
| PAST TOP PICK | Pengrowth Energy | PGF-T | 10.450 | (A Top Pick Nov 3/09. Up 7.1%.) Still a buy. | 2010-05-07 | ||
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| TOP PICK | BlackPearl Resources Inc | PXX-T | 2.780 | Exposure to an enormous amount of oil in the oil sands. “Best in class” management team. 3 principal properties with about 6400 barrels a day of current production giving them current cash flow. $58 million in cash on the balance sheet. Their Blackrock properties have about 1 million barrels in place. | 2010-05-07 |
