Whitecap Resources (WCP.TO)

(Market Call Minute)

(A Top Pick Sept 19/12. Up 53.75%.) Good management. Bought a suite of assets that support the model very well. Declines are low and capital efficiencies are very strong.

Have been getting their debt down to a very low level so they have access to capital. Bought out interest in a key property and now have 100%. Very low decline rates. Valuation is high but he has no problem with this because he knows that when they have capital efficiencies with lots of opportunities, they can grow giving more chances to pay a higher dividend. 5.5% dividend yield.

Was a growth dividend that converted to a dividend model. They can sustain it for a long time. The asset they just purchased is exceptional. Really underpins the sustainability of the dividend and provides some growth. Dividend could be increased.

(A Top Pick September 19/12. Up 53.27%.) Trading at 6 times and could approach $13. 5.7% dividend yield.

Not a name you have to worry about if interest rates go up. Not yield sensitive. Just boosted their dividend by 5% in October and the 5% dividend is very safe. Estimates effective payout ratio for 2014 at 106%, one of the lowest in the group. Just did a deal that looks accretive to their earnings by about 7%. Growing production well. One of the best names to be looking at in the oil patch for a higher risk investor.

(Market Call Minute.) This is a hold for the yield. Feels there is better growth elsewhere. Stock has done so well already changing to the dividend model. 5.7% yield.

Have changed their spectrum into becoming more of a dividend payer. Production spectrum looks pretty good.

(A Top Pick July 16/12. Up 68.08%.) This recommendation was based that they would be converting to a dividend paying company which they did. If you are looking for dividend yield this is one of the most sustainable models.

Chart shows an upward trend from mid-2012 and the price has come back to the trend line. Nothing wrong with this chart. 5.9% dividend.

(Market Call Minute) Big weighting for him. It ticks all the boxes for an up and coming dividend payer. A favourite.

(Since Sept. 2012, up 45.16 %) Well known management team that has been successful over time and they know how to find gas and manage the wealth. Issued a dividend six months ago.

A resource that was a pretty decent story. Never argue with the trend. This chart looks good. The only point of danger is that it is reaching the previous high. Something has to push it through that. If it fails, it could be the sign of a top. 5.7% yield.

Good growth. Has a good balance sheet and is not over distributing. Yield of 6.3%. This would be a reasonable entry point.

Sold his holdings about a month ago at $9.50. Wait for a bit more of a pullback before buying. Very sustainable business model.