Dennis da Silva Iron Bridge Resources Inc. IBR-T PAST TOP PICK Sep 25, 2015

There are ongoing questions around their primary asset in terms of declines, oil ratios and water cuts. This has been establishing a position, believed to be an oily part of the Montney play. You are kind of relying on that next property working. It is a name that will perennially be cheap as people are uncertain of the viability of their existing asset. Also, the population and the people that are interested in these small “small cap” oil stocks are a 10^th of what it was 10 years ago. There are just not enough guys that care about these names.

The stock has fallen off quite dramatically because they missed on expectations when gas was found in their Arctic Creek play, which the market was not expecting. Exposed to the Waskahigan play, which is doing quite well and thinks they will continue to do quite well in that area. They have a play where she expects they will direct a lot of their attention. Bank will be going through their bank line soon, so wait to see what the bank does.

It is not a pretty chart. The volume is dropping off. He would sell in January during a rebound.

(Top Pick Nov 5/14, Down 78.97%) His major concern was that the market is concerned about the inventory in the well. The market is worrying that there is more gas than oil in their reserves.

A Montney player with a lot of elements for a good potential story. Feels there is a lot of upside, especially with the Waskahigan play. With all these small gas companies, liquidity is a problem. This one has a pretty low debt to cash flow, but the room they have in their lines is somewhat limited. She would like to see it through another credit facility valuation, and that will be coming quite soon for a lot of these companies. Once you are quite certain that the liquidity is there, it would be a good entry point. It is worth a small turn at these prices.

A possible take over candidate. It is really cheap and they have some really great assets. The market did not like their Q1 reporting, and this creates a very nice entry point.

Has struggled with base decline rates. They are undergoing a credit line review. If you get a 20 or 30 cent bump then sell.

(Market Call Minute.) This story has played out. The management team has changed. It is a different asset.

They are just drilling the first well under new management. The crypto business makes sense for them. They are adding more ways to get value for their gas. She is keeping an eye on them.

Would you buy the stock? They are the gas producers that announced that they want to mine bitcoin. He applauds the CEO for his innovation but don’t see capital going there.