Whitecap Resources (WCP.TO)

(Market Call Minute.) One of the better yield plays in energy. It has had a nice recovery.

One of the more excellent of the mid-tier Canadian stocks. 2.7% yield.

Acquired some Husky (HSE-T) assets and did an issue to do it. They are making sure their balance sheet doesn’t get stretched. Paid a reasonable price for the assets and believes that they will do well for them.

Or an ETF? His view on ETF’s is that you are just being thrown into a lump of names without the discretion of singling out the companies that he would feel were the best value creators over time. This company is very well-run. Just did an acquisition. Has a long-term track record of creating value for shareholders. Thinks it will significantly outperform any ETF you look at. Sees an increase in dividends as oil price continues to recover.

(Market Call Minute.) Torc Oil & Gas (TOG-T) or Whitecap Resources (WCP-T)? He likes both companies and maybe this one today due to valuation.

They are more at the top of the list. The balance sheet is in good shape. They raised a lot of capital and employed it efficiently. They have demonstrated growth to justify their valuation.

A core name in her portfolio, and should be a core name for anyone looking for exposure to an upside in oil. Recently did an acquisition of Husky’s (HSE-T) Southwest Saskatchewan assets. This gives a pretty nice accretion to the cash flow. They are going to have a lot of opportunity to enhance the productivity of those assets. She is adding to her holdings on pullbacks.

(Market Call Minute.) Good management team, good assets, good execution and pays a dividend, but he would own Spartan (SPE-T) instead.

(Market Call Minute.) Make sure you know where oil is going. This would be a Hold to a weak Sell. He might look at this in 6 months’ time.

He chose to re-enter the sector when the US$ rolled over. This has a lot of light oil and liquids, and is a low cost producer. This is a good combination of being in the right place, with the right cost structure, and a clean balance sheet. Look at this as an opportunity to capture part of that move on the energy side. Has a very long reserve life as well. Dividend yield of 3.11%.

It has been underperforming the last couple of months for reasons that he thinks are unfair. They acquired a company with a hedging position on oil. Management monetized the position and constrained their losses. He feels they will decrease their dividend by about 50% soon. The story is becoming more intriguing than it was a month or so ago. He is holding out for a lower share price.

One of the few oil stocks he has continued to hold for the longer term. Their finding costs are extremely low and have made some great acquisitions in the last couple of years. Well financed.

They spent the 1^st couple of years building out an asset base, in preparation of converting to a dividend paying model. This company stands out as the one being the most successful in terms of executing that type of plan. Did a bit of financing of $95 million recently, and picked up an extra 15% working interest in the Boundary Lake asset, taking them from 75% to 90%. Has a 5% decline rate, so the sustaining capital to keep that production up is less because of that. Dividend yield of 5.25%.

This company is doing extremely well. Still relatively expensive, a very good company, and it should come out OK. It’s the gas companies that are completely distressed that have the biggest performance. Other ones that are more conservative and doing well have not bounced back in the same way. This is a company he would own at the right time.

He has been interested recently. It has been a preferred company on the street over the last couple of years. He wanted to see enthusiasm knocked out of the share price. It is still a good company and well managed, but too promotional.