Tamarack Valley Energy (TVE.TO)

There were in the penalty box for quite some time. They did not structure their acquisition very well. It is now going better than they expected. He really likes that they are in a similar play to another that is perfecting the play in Alberta. The market is not rewarding them for this at present. He thinks they will beat expectations. (Analysts’ target: $3.75).

This is by far the cheapest of his oil/gas holdings and he really likes it. There is a bit of an overhang, because they made an acquisition, which gave them a lot of stock, and there has been some selling going on. This is probably the right time to start a position in some of these names. This is extremely cheap at today’s prices.

He likes this company. A smaller high growth play.

They did a number of acquisitions last year. The stock is now ahead of itself because he thinks they paid too much for their last acquisition.

This one has been a laggard. It has trailed a lot of other oil and gas companies. They did a fantastic job of growing production. They did a good job of cutting down their costs. They are not levered because they have a great balance sheet.

(A Top Pick June 8/15. Up 4.47%.) No longer owns this. It has massively outperformed how oil has done. However, unless they do some wildly accretive acquisitions, it is trading at fair value. He wouldn’t own this today.

(A Top Pick June 12/15. Up 1.54%.) Likes management and the quality of the assets. The balance sheet is good. Have done some exceptional things in getting their costs down and improving efficiencies in their drilling, and have done really well in consolidating their plays. This is still a Buy.

(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.