Yoho Resources (YO.V)

Management team is quite conservative. Has held it in the past. Likes the team. Looking at buying it again.

Haven’t looked at this for quite a long time, but they have been chasing the Duvernay wells. Duvernay is not very well understood yet, even for the majors, and is very expensive.

Good natural gas play. Has a good position in the Duvernay and Montney regions. Have been reasonably successful. Natural gas prices continue to be depressed and they are struggling to fund their exploration program. Shorter-term he expects the growth to be reasonably slow.