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Legacy Oil and Gas Inc. (LEG.TO)

HOLD
Delivered descent production over time. He would continue to hold. Thinks it will have another run at some point.
TOP PICK
Fastest growing oily western Canadian company. Stock has been weak. Will be 1000 barrels light for the second quarter only. All rigs are back running now. Tremendous opportunity. You can buy it at a discount multiple.
PAST TOP PICK
(Top Pick Jun 28/10, Up 10.89%) His favourite intermediate. It pulled back with the oil stocks. Feels it will go a lot higher when oil stocks get going again.
BUY
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.)
BUY
All the oil and gas names have had a pull back. This is a buying opportunity.
STRONG BUY
A gift at the current share price. One of the best light oil management teams in the business. Their assets are really under appreciated. Pretty large block was put up yesterday, so he bought more. A $17-$18 price target would be really fair.
STRONG BUY
Loves this stock and its management team. Has been buying it. Was almost a top pick tonight. Drilling success is always quite high. It’s going a lot higher.
PARTIAL SELL
Good name but doesn’t see an immediate catalyst in the short term. If you own, consider taking a little bit off the table.
BUY
Management team is phenomenal. Great suite of development and exploration assets. Pretty exciting plays. Great way to gain leverage to an increase in oil price.
TOP PICK
Management has done a tremendous job when a couple quarters ago did 22 on 22 on oil wells. Made a couple of acquisitions that they’re starting to prove up on drilling and numbers are quite good. Analysts are $15 to $18 on it.
BUY
(Market Call Minute.) Great management. Good assets. Oil weighted.
BUY
Just acquired Bronco Energy (BCF-T). His favourite oily intermediate story. Had some drilling delays in the 2nd quarter because of wet weather in Saskatchewan. Highly successful in fracing, horizontal oil wells. Looking for 30%-40%-50% gains in a year’s time.
COMMENT
Very good company. Well managed. Assembled a number of different assets that all have oil exposure. Well recognized as a good company so trades at a high price.
DON'T BUY
(Market Call Minute.) Likes the company but the valuation is a little bit high. There are others that look cheaper.
PAST TOP PICK
(A Top Pick Aug 6/09. Up 11.89%.) Has a great play. $1,500 billion Market Cap right now and it looks pretty good.
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