Athabasca Oil Sands Corp (ATH-T)

Doesn't own either. Usually sticks with light oil, but see his Top Picks. If he had to choose, he'd pick MEG: larger market cap, better liquidity and institutional ownership. 

ATH is more focused on debt reduction. It does buybacks, and he prefers dividends for income. Rocky stock performance. 

A timely buy. It's seen an uptrend in 2023 to return to the June 2022 high. It's pushing on new highs now. Definitely the time to buy.

High exposure to rising oil prices.
Excellent prospects going forward.
Major tax loses will cover any tax expenses going forward.
~30 years of proved reserves.
Starting share buyback next month.
Expecting more than 100% upside potential for the share price.

Trading in a range for some time. Earnings forecasts are slipping, may come under pressure. Not his favourite. Too expensive. See his Top Picks.

Largest shareholder in company. 
Very large reserve life index.
Company is now debt free.
Will return 75% of free cash flow starting in April.
Expecting major share buybacks.
Trading at 1.8x cash flow @ $100 oil.
Tax losses worth $0.44 per share.
5x multiple would suggest a $6 share price.

Great long-life reserves. If oil stays at current levels, it will flow to the bottom line. Cash generator with a long history. TWM has better growth prospects for production.