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

Petrobank Energy and Resources (PBG.TO)

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BUY

This is a core position with his oil sands strategy. Have a 76% interest in Petrominerales (PMG-T), the Bakken play in Saskatchewan as well as their oil sands division with their Thai technology. Doesn't think the market is pricing in the Thai technology.

COMMENT

Has done very well and it might be prudent to take some money off the table if you own. It might be the start of decay because it is firing on so many cylinders such as oil sands at low cost, Thai technology and control of Petrominerales (PMG-T). Also into different plays in Saskatchewan.

WATCH

2007 was kind of a topping year for the stock market. This one doesn't know what a top means and it does not look like a top to him. Had a new high earlier in the year, sharp selloff and a sharp rebound. He can see 2 entry points. 1) Somewhere around this year's low and 2) if it breaks out above the old high. He'd rather buy it at $56 than the current price. Would also feel a lot more comfortable if it went back down to its low.

COMMENT

One of the more exciting fireflood results. Also have a 77% ownership in Petrominerales (PMG-T). Also one of the 2 prominent players in the Bakkens area in Saskatchewan. Good growth coming out of all 3 areas. Probably in a trading range in the next little while.

BUY

In the low and below $40 it is a very good Buy. Have a key position in Petrominerales (PMG-T) in Colombia and every $1 is a $1 in this stock. Also has a Bakkens play in southern Saskatchewan. There is also the IP play on their Thai technology.

HOLD

One of the best performing energy stocks on the TSX. Pick your spot where you want to exit and be disciplined about it. Wouldn't want to see it trade much below $43/$44.

DON'T BUY

Has done a phenomenal job in light oil assets in Western Canada. The Bakkens play in southern Saskatchewan is the “in” place to be. Incredible volumes coming on. Also have a key position in Petrominerales (PMG-T) in Colombia that just keeps going straight up. Also has a wild-card valuation with their oil sand technology, Thai, which looks like it works but doesn't know, on a full production scale, if it does work. Would love to see it at $25-$30.

COMMENT

The White Sands project looks like it is making good progress. There is still some risk on this, but it is becoming less and less. He worries most about the air breakthrough, a fireflood project. Petrominerales (PMG-T) Colombian wells look very interesting. Also have some exposure to the Bakken play in Saskatchewan. Good management.

BUY

Have a patented process for improving recovery in heavy oil reservoirs. Will be extremely valuable if they can license it to some of the global large companies.

BUY

Has 77% ownership in Petrominerales (PMG-T) plus you get access to the fire flooding technology. This story has a lot longer to run and if it is as good as he thinks it is, it could be a real winner over the next year.

BUY

Owns 77% of Petrominerales (PNG-T). Might be considered the oil stock of the decade. Has a fabulous process in the Bakken fields. They also have the Thai process, which seems to be working out very well.

BUY

Has some really interesting technology, which they are leveraging into joint ventures. A smart way to grow the business. Has moved a lot, so you need to be cautious.

TOP PICK

Has a fabulous process in the Bakken fields. They also have the Thai process, which they have licensed out now and he feels there will be more licensing. They also control Petrominerales (PMG-T). It might finish up being the stock of the decade in the sector.

BUY

Acquiring Peerless Energy (PRY.A-T), which is a good deal for them. Feels the Thai technology works and have signed their first licensing deal in North America. The next step is to go either to the US or global. Not only will they have production growth, but cheques coming in the door from their technology.

WEAK BUY

Has been the big success.

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Petrobank Energy and Resources (PBG.TO)