Tamarack Valley Energy (TVE.TO)

(A Top Pick April 6/15. Down 5.36%.) A Cardium oil producer and have done a great job. They are building a dominant area at a very low cost. Likes the stock, but feels it is a bit ahead of itself right now. If it backed off to below $3, he feels it would be a table pounding Buy.

Wrestled with making this a Top pick. It has become a core holding for him. Participated in many of the financings before they were a well-known presence in Calgary. Management has a tremendous track record and has demonstrated an ability to do game changing transactions. Have about 400 locations in the Viking and Cardium. Nobody is better at grinding costs down and bringing efficiencies up.

(Market Call Minute.) Really solid stand up guys. He just wants the stock to pull back in the next month in what he thinks may be a choppy market.

(A Top Pick June 12/15. Down 24.81%.) A small producer. This got hit, unjustifiably so, because it is an excellent quality company. Management has done an excellent job of rationalizing costs and have been able to maintain some of their property build because of this. Operationally they are doing quite well. She really likes this company. Sound assets and she sees lots of opportunities for them going forward. A great Buy at this point.

He still likes it and it is a core position. They have incredible operating efficiency and can make money at $40 a barrel. They keep delivering quarter after quarter. He thinks it will be a go-to name for the market.

Their latest acquisition has helped to correct what has become a bit of a higher debt to cash flow multiple. They have been very, very prudent with growth and with capital management. Have really helped to correct the balance sheet with their latest equity issue and acquisition. She thinks it is going to do pretty phenomenal things going forward.

An oil producer. Conservatively run. Did a nifty little double acquisition in the Wilson Creek area. It was $54 million, and you could tell the market liked it as they could have raised $80 million. Well financed. Solid balance sheet. They are prepared to not spend any money on growth capital, in order to keep the balance sheet clean for any more acquisitions that they might do in this environment.

One of the few light oil companies trading at a deep discount. They paid less for a recent acquisition than the reserves. They also delevered the balance sheet. They now have a 6 year drilling inventory. They can grow by only spending their cash flow. It is one of the few oil opportunities he sees today.

Involved in the Cardium and Viking plays in Alberta. Doing about 8000 BOE’s a day right now and he thinks they will average that out for the year. Will probably do $.80 in cash flow. He has a $6.60 target on it.

(A Top Pick Jan 15/14. Down 31.16%.) Broke down from a technical standpoint and he sold his holdings at probably around $5.35.

Another example of a business that has continued to surpass the market’s expectations. Had 11 quarters in a row where they beat the estimates on the street. Made an acquisition earlier in the year that was financed higher than today’s stock price. Low operational costs. Little to no debt. Well financed acquisition at Wilson Creek in September set the stage for continued growth.

(A Top Pick Jan 15/14. Down 34.11%.) Still has a lot of respect for management. They are still executing the way he thought they would. The price of oil really started to go against them and capital flows moved out of the stock. It broke down from a technical standpoint, so he sold his holdings. He continues to like it and is still on his radar screen. They are seeing some significant cost reductions happening in their facilities, but also in their drilling costs, which will bring down their production costs. This means that their netbacks, even with the price of oil dropping, are still going to remain fairly high. There is also a pretty good chance that they might sell some of their facilities to give them extra capital, as opposed to having to go to the market.

(A Top Pick Jan 15/14. Down 0.46%.) Sold his holdings in the $5.20 region. Story hasn't really changed much, it's just the dynamics of the industry and that the wind was starting to go in their face, and not at their backs. Great management and great production and are continuing to grow their base. If there was a correction in the price of oil, he would certainly go back into this again.

(Top Pick Oct 23/13, Up 71.59%) Very seasoned management. They did some good acquisitions. You just don’t get this kind of growth curve.

Recently did a financing just above $7. The whole energy sector has really been beaten up, especially in the last 2 weeks. It’s not just a specific company, but seems to be more of a flow of funds out of the sector. Likes this one. They continue to execute on their plan. Just made a small acquisition and continue to build up their properties. Will probably see higher productions from them. Expect that they will eventually be taken out down the road. Probably cheaper than some of its peers.