Vermilion Energy Inc (VET.TO)

(Top Pick Jun 25/12, Up 32.45%) A core holding and a big weight. In late 2014/15 their Irish project should cause a dividend increase. They have never cut the dividend. Amongst the highest in terms of sustainability. Tremendous exposure to Brent pricing. 6.4% dividend.

Great stock and great operator. Terrific company and low debt. But two thirds of their exposure is to Brent prices and Seaway pipeline is going to continue to expand. More producers are shipping by rail and barge. Also, expects the US will go for Keystone.

This is the “go to” company when it comes to Canadian oil companies. Have oil-producing properties in Australia, Ireland, Netherlands and France. Have better pricing power than the rest of its Canadian peers. Fantastic balance sheet. 4.6% dividend yield.

(Market Call Minute.) Great company and good prospects. A little rich and he is on the sidelines at the moment.

Has been strong because there is no exposure to differential issues. Located in Australia and soon to be the gas market offshore Ireland as well as gas exploration in offshore Netherlands. A little too rich for him right now. Trading at around 9.2X cash flow. Very large project coming on stream in 2015 and will be selling gas at European pricing. This could result in a material dividend increase in 2 years time. Other names with a better valuation.

(A Top Pick April 26/12. Up 14.34%.) Gets Brent crude price versus West Texas because it is more of an international player. Not that expensive. All things being equal, he would be Selling this and Buying Crescent Point (CPG-T) because he thinks that crack spread will narrow. Has been selling into strength.

(Top Pick Dec 22/12, Up 19.74%)

( A Top Pick Dec 20/11. Up 20.66%.)

Operates in Western Canada, Europe and Australia. A large amount of their oil production is tied to Brent pricing and a large amount of their natural gas production is in Europe and is tied to Brent crude as well. Decent dividend and would look for it to start growing at the end of 2013 and early 2014.

Likes the yield so he is quite happy to wait. Well managed. He has it as an “Outperform” with a $55 target. This one also gets the Brent crude prices.

(Market Call Minute.) Good international name. Had problems in France. Looking to buy assets.

Likes management very much. They will bring on the Ireland assets in a couple of years which will be about 30% growth for them. Feels the stock is range bound at the moment and would buy on a pull back. She likes that it is exposed to the Brent crude prices rather than to West Texas prices.