Crocotta Energy (CTA.TO)

(Top Pick Oct 23/13, Up 53.33%) Taken out by long run. Likes the management team and their gas assets. See his top picks for today.

Being acquired by Long Run Exploration (LRE-T). The company that is being spun out of this company, Lucrotta (?) is going to be a Montney focused gassy producer, an area he really likes because of his view on LNG. If you want exposure to Montney, the Lucrotta is going to be one of the “go to names”. Team has a great record of adding value and growing production, and are now in a very robust dynamic Montney play that is well financed.

(A Top Pick May 14/13. Up 45.65%.) Being acquired by Long Run (LRE-T). They are going to spin out an exploreco, so she will hold on to that.

A little discouraged with the initiative of management to go out and tell their story. Would like them to get out a little bit more and talk about their stock. Last year’s numbers were okay but not spectacular, but they have a big inventory of natural gas. There are better alternatives where there are more visible catalysts around the corner.

(Market Call Minute) Everything is fine but it is not quite cheap enough - $2.50 is an entry point.

Has been known for its natural gas business, which is about 60% of production volumes. Low-cost operator. Terribly undervalued. Real story is their development of the Cardium light oil play where they could hold their production flat at about 8500 BOE’s for a long time. Thinks they will throw a bunch of capital at Edson because it is such a great opportunity. Screaming buy at current price and as it approaches $5, he’ll have to look at it then.

(Market Call Minute.) Well-run company. A little too small for him. It gives you good leverage to the Cardium play as well as the Montney play.

A solid name. Has a liquids rich pool, a Cardium pool (60% oil/40% gas) and some Montney exposure with which it has had some good drilling success. Trading around 6X enterprise value cash flow, which is in line for a Junior natural gas company. Right now there is a record amount of product on the market.

(Market Call Minute) Has done exceptional job of growing production.

Almost 10,000 barrels a day of production. Debt not out of control and have grown production. Management team is in their third go-around.