Norman Levine
Petro-Canada
PCA-T
TOP PICK
Dec 03, 2007
(His 3 Top Picks will not give you instant gratification, but are to be held for 1, 2, 3 years.) Affected by the Cdn$ as a lot of their operations are outside of Canada. Also has a lot of natural gas. Montreal refinery has a strike going on. Extremely reasonable valuation. Prospects on a number of their things are extremely promising.
Merging with Suncor (SU-T). The reason to buy either is that they have a production profile that could grow dramatically. If you are positive on energy over the next little while, it makes a ton of sense to have a senior company like this.
Merger with Suncor (SU-T) is pretty much a done deal. Doesn't think this will go any higher so he would sell and pick up more Suncor, which is in the penalty box right now.
Merger with Suncor (SU-T) makes all the sense in the world. Very good combination. You get the oil sands along with a cash flow that will come from their more conventional assets.
(A Top Pick Oct 16/08. Up 107%.) (Now Suncor (SU-T)) A dominant player. Well diversified across gas, oil, oil sands, upstream, downstream. Will be the bellwether stock in the oil/gas industry.