Veren (VRN-T)

Significant weight for him. 20 years of inventory. Now has strategic positions in 2 of the best plays of inventory depth. Lowering costs. Super-strong balance sheet. No inventory challenges. Conservative management. Potential upside of 82%.

Classic oil producer chart. Broke out, pulled back to the neckline. Have to see if neckline holds, that would be good. If breaks down below $11 or so, expect it to return to the bottom of the range. He's not making any predictions.

Recent name change from Crescent Point Energy. Company has lots of opportunity. New management team focusing on strong assets that generate cash. Will continue to own. Believes stock price is still under valued. 

Likes both, but their stories differ. SU holds Oil Sands which have a long reserve life. The new executives are doing a great job fixing problems. VRN is a conventional producer in the Duvernay and Montney with shorter reserves. Both are undervalued--though VRN is more likely to go higher, though VRN is more volatile.

Likes both, but their stories differ. SU holds Oil Sands which have a long reserve life. The new executives are doing a great job fixing problems. VRN is a conventional producer in the Duvernay and Montney with shorter reserves. Both are undervalued--though VRN is more likely to go higher, though VRNs more volatile.

One of his top holdings, a 9.5% weighting. At least 20 years of high-quality inventory. Proven ability to successfully execute. A 10% free cashflow yield at $80 oil is about a $19.57 target price, 70% upside from here.