A Comment -- General Comments From an Expert (A Commentary)

After the selloff in 2001/2002 there was a huge base building and it has now just had a breakout. Should now have another up leg.

(A top pick Jan 28/04. Up 4%.) Very well run company. Huge amount of cash flow is going to come out in the next few years which they will use to buy back shares.

Has been hit, mainly because of Brazil but they're starting to get their heads around it. A good defensive place to be.

Valuation is good. Would prefer to own Magna which would give you more diversity.

Feels there's a big enough safety buffer between the present price and what it's worth based on earnings.

Thinks it is fantastic value. Have been increasing their reserves.

One of the smaller producers. About 8000 barrels going to 12,000. Good growth prospects.

In the zone that they could get acquired or, they could ultimately change into that trust.

Questionable whether the equity will be worth anything when all is done. Very speculative.

It had a number of big successes at Pembina. Presently producing about 3100 BOE's a day. By the end of this year, they should be north of 4500. Growth is all been done with the drill bit, not acquisitions.

Expects a little bit of growth. Better growth stories in the junior gas area.

High risk. Avoid stock, playing with fire.

Preforming the best. Consider buying.

Has had big disappointments in Brazil which has to be sorted out. Expects it to move higher.

Have been restructuring and cutting their costs for the last 3/4 years. Still some reasonable upside because of metals going up.