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Talisman Mining Ltd (TLM.TO)

BUY
One of his largest holdings in the energy sector. Exactly what he likes, international, more oil than gas, growth and well financed.
TOP PICK
Thinks there is a gradual resurgence in the price of energy. Oil companies make a lot of money when oil is anywhere north of $40 or $50. Have some terrific resources in Southeast Asia.
TOP PICK
Strong balance sheet. Well-managed. Internationally diversified. Outlook for energy longer-term is quite positive. Great assets.
BUY
(Market Call Minute.) An improving story. Cheap as can be and finally seem to be turning the corner.
HOLD
One of the best energy companies in the country but he is not bullish on energy at this time. His one concern is that they always seem to get themselves into the worst PR jams.
PAST TOP PICK
(A Top Pick Feb 26/02. Down 31.4%.)
BUY
If you are bullish on oil this is a good entry point. At this point, the risk is almost all oil price. This is not his favourite.
COMMENT
For years it has been a “show me” story. Company continues to be transitioning under new management. Trying to become an unconventional gas play.
BUY
(Market Call Minute.) One of the better international oil/gas companies. Very strong on the development front. Compelling valuations.
TOP PICK
(A Top Pick Jan 7/08. Down 35.9%.) New management has been getting rid of non-core assets and building up shale (Quebec), etc. positioning themselves for when energy prices start to come up and become exceedingly profitable.
DON'T BUY
Hasn't been hit ridiculously hard relative to the way energy stocks have performed but he is having a hard time being bullish on energy, as he doesn't see an economic recovery in the near future.
DON'T BUY
If you like the oil and gas market from here, all of these stocks are cheap. The problem is, when do we hit bottom on oil/gas. If you want to be in the energy market and are patient, you can buy trusts that yield 10%, 11% or 12%. Let the market turn and you get paid while you wait.
PARTIAL BUY
Would buy this but wouldn't put everything in right away. Thinks oils are getting pretty close to a bottom. Prefers Canadian Oil Sands (COS.UN-T), which is bigger.
COMMENT
Regarded as a pretty good name. A lot of geographic production diversity. Very inexpensive. A little bit expensive in its production costs and have been a little bit behind the curve in their strategy. Could see $20 in 12 months with reasonable commodity prices. Prefers Canadian Natural Rsrcs (CNQ-T) or Encana (ECA-T).
BUY
New management has been doing some wonderful things, but the environment turned on them so they are not able to show the fruits of their labour. When oil/gas turns around, this company will be a major beneficiary. Also a pretty good takeover candidate.
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