Whitecap Resources (WCP.TO)

(Market Call Minute.) Good management team. Levered to oil and will do very well in this environment. Just announced a merger and will continue with their growth profile.

Have about 10,500 barrels a day of production. Very low decline rate. Real anchor of production is the Valhalla/Montney oil pool where they have recovered about 12% of the oil to date which has a very low decline profile. Ultimately should be able to recover up to 40% of the oil. Also acquired Compass, a Kindersley area company of Saskatchewan. Good success in drilling up Pembina/Cardium.

Well run company. Balance sheet is fine and will be growing production by about 27%.