Daylight Energy Ltd

(A Top Pick July 20/11. Up 6.22%.) This company was acquired.

(A Top Pick June 30/11. Up 9.97%.) This company was acquired. Sold his holdings at $16.

(A Top Pick July 20/11. Up 6.22%.) Acquired in Late Dec by Sinopec, a Chinese company.

(A Top Pick July 20/11. Up 13%.) Acquired by Sinopec Dec 2011.

(A Top Pick June 30/11. Up 9.97%.) Acquired by Sinopec Dec 2011.

(Top Pick Mar 14/11, Up 1.71%) Acquired.

(A Top Pick March 14/11. Up 1.71%.)

Not one of his favourites. He prefers some of the bigger names.

(Top Pick Jan 27/11, Up 7.62%) was taken out by a Chinese company. Didn’t predict it but clearly it was the smallest of the group. There will be more of a trend of this happening.

(A Top Pick Dec 16/10. Up 6.44%.) This one is being taken out.

(A Top Pick Dec 15/10. Up 6.76%.) Was taken out.

Being acquired by Sinopec International. He has tendered his holdings. When is a bid on the table and not likely to have counter bid, take the money and run.

Stock shot up when Sinopec Int made an offer to purchase at $10.08. If you own, he would suggest you take your money and run. There are still some regulatory hurdles.

Long time shareholders but she sold yesterday. Felt the price being paid was fair. Not anticipating another buyer.

On July 8, he had this as a Sell with a model price of $4.55. The stock went down to $4.40. Just had a big takeover offer from Petro China.

Very high leverage compared to the rest at 2.3 times. Dividend probably not be sustainable. 70% drawn on their bank facility. If you want some gas exposure there are better places to be.

Taking the past peak price of oil, $40 in 1980, and inflating it at 2.5%, you would have a price of $88. Feels that oil is undervalued. Daylight is doing all the right things fundamentally, however the complaint is too much debt relative to the amount it wants to spend on development, lands, acquisitions, etc. He disagrees with this and remains a staunch buyer. Could be a cut in distribution.

The stock is way oversold and could go lower before going higher. Even fell below its 2009 low, which is very negative. The only good thing is that there is going to be some kind of a recovery one of these days. If you own, use the next rally to Sell.

Incredible yield of about 12% right now. Some concerns about the debt. About 15% left on the line and he is confident they can renegotiate. Very cheap. Well-managed.

Current low is an important one and matches the one in 2009. Chart shows the stock has been in trouble for a while. Market clearly does not like this one.

Not a favourite of hers, mainly because they have more natural gas than oil. Good management. She would go to an oil levered name.

Dividend is reasonably safe. If you want to enter a former royalty trust you could buy Arc or Baytex. This may not be the time in the cycle you want to aggressively get into it.

At this point your risk/reward is so good, it might be the kind of investment he would like to buy. Coming back to a multi year low. Hang on with stop around 20% from here.

Well-managed company in the oil patch. Projected cash flow could be around $1.50 or better. Looks fairly compelling at this price. Sufficient cash flow to continue paying the distribution.

About 60% gas weighted. Balance sheet is a bit stretched and they may have to raise equity or do a high yield debt issue Some of their oil plays haven’t gone as well as they would have liked.

Similar to NAE. Sold it in recent months due to debt levels. Yield may not be as safe. They have a lot of interesting plays. Watch for another quarter or two.

(Top Pick Sep 13/10, Down 25.38%) It’s down 21% in the last 7 or 8 weeks. It’s unfortunate. They try to tease the market with new plays. They aren’t concentrated on any one play. Debt levels are creeping up. You get yield and some growth as Nat Gas prices go up.

Oil is up or down $2-$3 each day and a lot of the oil companies, including oil/gas service companies, are not doing so well. Good management. Good dividend.