Petrobank Energy and Resources (PBG.TO) Buy,…

Petrobank Energy and Resources (PBG.TO)

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DON'T BUY

Over top of PetroBakken (PBN-T) and PetroMinerales (PMG-T) and has an enhanced recovery process. When PetroBakken was weak and PetroMinerales was where it was, you got the heavy oil for free when you owned this stock but now you have to pay about $6. When you pay almost nothing he would buy this one but he prefers the Bakken play at this time.

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BUY

Owns PetroBakken (PBN-T), a subsidiary. Recently merged with TriStar (TOG-T) and spun out their Bakken field assets.

BUY

Majority ownership of 2 publicly traded companies, Petrominerales (PMG-T) oil/gas producer in Colombia and Petrobakken (PBN-T) light oil in Saskatchewan. Also have oil operations in Western Canada as well as their Thai technology. Thai could be a game changer if their pilot projects are successful.

BUY ON WEAKNESS

Merged with TriStar (TOG-T) and formed a new company PetroBakken, which will start trading tomorrow. This gives you a play on their oil sands technology, a part ownership of Petrobakken as well as ownership in their South American assets.

WAIT

It depends why you are buying it. It’s pretty expensive. Let the market settle out if you are going to buy it.

WAIT

Becoming a more interesting story. Bidding for Tristar (TOG-T) and hopefully will spin that and its Canadian unit into the separate company called Petrobakken Energy. Wait for all of this to happen before taking a position.

BUY

(Market Call Minute.) Focused on the Bakken play in Saskatchewan and this will attract a lot of attention.

HOLD

If their Thai technology proves out, it could be very significant. Still in the penalty box because it has not been really proven.

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BUY

Terrific technology for the oil sands. Also have a play in the Bakken fields. Well managed.

BUY

Involved in Saskatchewan Bakken and is a very successful play for them. Also have an oil sands project, which is having start-up issues that will eventually get resolved.

BUY

3 key components with one never getting fully realized at any one time. 1) 76% interest in Petrominerales (PMG-T) in Colombia. 2) Heavy oil technology (THAI) in their White Sands oil sands project. 3) South east Saskatchewan Bakken production.

BUY

(Market Call Minute.) In the last few days there was a large Short position on it, which are starting to cover now.

PARTIAL BUY

From a longer-term perspective this is extremely attractive. In the short term, there has been profit taking across the whole resource sector. Would start accumulating on weakness.

COMMENT

Sold part of their Columbia Petrominerales (PMG-T) for about $100 million, which helped pay down some of the debt. There Bakken play in Saskatchewan looks interesting. Jury is still out on their toe to heel production (Thai project) and he thinks they have a long way to go on this.

PAST TOP PICK

(Past Top Pick Apr 16/08 Down 51%)

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Petrobank Energy and Resources (PBG.TO)