Cyries Energy Inc (CYS.TO)

(A Top Pick March 10/05. Up 15%.) Started off with 1,000 barrels a day, went up to 2,000 and reached 3,000 all in a year and a half. Production looks like it's going to be around 6,00 barrels a day. Have some high impact wells.

(A Top PIck Mar 10/05. Down 4%.) Still likes it.Got a little ahead of itself and then pulled back, but is recovering nicely. Good price.

This came out of the Progress Income Trust creation. Likes the stock, but it has really run. Have a lot of drillable land. Lots of money. Looks expensive based on their present multiples, but if you presume that they are going to double their production, it is reasonable.

A spinoff when Cequal went into the Progress Energy Trust. Have 100,000 acres of undeveloped land. Have no problem raising private money. Have grown from 1,000 to 2,000 barrels a day in less than a year. Feels they could reach 4,000 barrels by the end of the year. Very solid balance sheet.

(A Top Pick July 26/04. Up 21%.) Still likes. If it eases back a little more, he'll average up.

This stock was a throw off from Cequal. Likes the management and their properties. Generating cash flow.

Could do extremely well. A spin out from Cequal and Progress merger. Good land assets.