Tourmaline Oil Corp (TOU.TO)

Likes it a lot. Good leverage to bullish thesis on natural gas in Canada. CREW acquisition is a good addition. Very big fan of the Montney, one of the best plays in the world, decades of tier 1 inventory. Yield is ~7%, with prospect of special dividends.

Management has one of the highest reputations in the industry. Highest quality gas play there is. Outlook for gas is good, especially with the new pipeline coming on. Might pay a bit of a premium, but it's worth it.

It is good for exposure to the space but again he doesn't like the space so he doesn't own it. It is the largest natural gas dealer in Canada and the market seems to like the acquisition of Crew Energy.

Loves both, and recently put money into both. Especially TOU, a very slightly better opportunity. Will continue to deliver consistent earnings growth, especially if maintains its strong cashflow growth. Add on weakness, but keep in mind that it has volatility, so a 5% or less position.

Reasonable debt levels, payout ratios are fine, solid recent results.

Very much a gas play, about 75%. Management executes incredibly well. If you think gas will do a bit better, this name is the one to own and will do better than competitors. Grows production volumes in a tough environment. $2B capex spend.

He owns both. Both are big into natural gas. Likes both and they will do well.

He likes it but doesn't own it. He owns Arc instead. Tourmaline owns more dry gas. Natural gas has been a tough commodity year to date but is a solid investment in the medium to long term

He always thinks in terms of a 3-5 year hold, so getting out and back in is a tough timing question. Unique opportunity to play in the Canadian resource market. At the front of the pipe, a huge advantage. Canadian oil stocks are, globally, cheap; nobody likes them. 

He wouldn't recommend selling any oil stocks because, even at $77 oil or nat gas at $2, it's low and that's why the stocks are down. The beauty about commodity stocks is that a low commodity price results in a higher commodity price sometime down the road.

Hold, and you'll be fine 3-5 years from now.

Has owned this a long time. It ran up from 2020-22 so he trimmed it. Hurricane Beryl impacted the Gulf Coast and 50% of its refining capacity, so this benefits TOU.

Good option for investors with a 5 year time horizon. Excellent company - owns large amount of shares. Very good assets with lots of drilling inventory. Best in class management team. 

Price of nat gas is very volatile, and TOU can't control that. It can only control drilling and what it buys. CEO continues to buy more shares for himself. He likes investing alongside those who know and love a company the best.

Hard to tell outlook for natural gas, but he expects more nat gas infrastructure to be built in Canada and NA. Expects weather to normalize. He prefers the safer plays in oil & gas, rather than small caps or junior companies.

Despite pullback, still sees positives going forward. About 22% upside to her target price. Plenty of cash that it keeps investing to continue the momentum of earnings growth. 9/10 on value, 8/10 on fundamentals. Not a core holding the way CNQ is.

Very good operator. Long life reserves. Bullish on oil and natural gas sector. LNG Canada completion will be excellent for the business. Brilliant leadership. Very good for long term investors. 

The question was on her preference between Tourmaline or Arc resources. It is fine to own both - they are both well managed and have good assets. They own Arc because they like assets slightly better.

Best managers in the business. Minimal debt. Pays a small dividend but will issue special ones depending on the oil price -- likes this. They got their toe in the water early in LNG. Smart. The outlook for natural gas has been tough in recent years, but looks better ahead as the transition to green energy takes longer.