John StephensonProEx Energy Ltd.PXE.TOTOP PICKJun 21, 2005
On his WATCH list. Growing its reserves very effectively. Good seasoned management team. Trading inexpensively relative to its peers. A resource play in tight gas which is easy to get at low operating costs. Will be able to increase reserves and production year after year.
Natural gas weighted and has always been a favourite. Delivers fantastic per share growth of production. 30% last year. Under leveraged balance sheet. Low operating and transportation costs. One of the early natural gas stocks that move up.
This is his one pure gas play. No debt. Low-cost producer. Growing organically. Still expecting 30% growth. If and when they gas price cleans itself up, perhaps another year or so, then he'll make lots of money.
It's a bear market in natural gas. High quality management team with low debt; low operating costs and one of the best acquirers in the industry. Growing organically, 25%-30% this year.
Very strong management team. Concentrated in northeast B.C. 90% gas focused. 1st-quarter was weak, but the stock has recovered. Strong company. Has some good upside in the current gas price environment.
A spin off that came out of Cyries Energy (CYS-T) and ProEx Energy (PXE-T) merger. Have some of the cheapest finding and development costs in the industry. Well managed and growing very steadily.
Over the next 2-3 weeks, natural gas inventories are going to fall below last year's. Should be a good year for natural gas and would play this with unhedged companies such as Duvernay (DDV-T), Cyries Energy (CYS-T), ProEx Energy (PXE-T).