Hugh McCauley

Has a few products, but has one primary product in diabetes. If he gets it right, and the animal studies come through in humans, thinks the stock will go from $1 to over $10. The good news is that it has 2/3 other products coming up behind it, so if it drops, will only go down to $0.50.

Drilling in the North Sea and has had some success. The last couple of wells were not as good as the market expected. They now have to raise money to drill more. Expect they will have to put themselves up for sale. Wouldn't pay more than $3.25.

This may be one of the best 2 or 3 stories in Canada. They rent oil drilling equipment to the oil/gas companies and get a day rate. They are going to double the drills which could double the revenue, but not doubling the share count. Gross yield of about 7.4%.

Great opportunities in Egypt. There is some volatility downside risk, but feels they will find more and more oil in the next couple of years.

Feels the company is in transition from a growth story to a more stable yield story. An average trust with stable distribution over the next couple of years. Prefers growth trusts.

An exploration oil & gas company in the Republic of Georgia. They are doing a base level of infill drilling that will support the stock with $0.60 of cash flow. Also doing exploration plays for the big stuff which is risky.

Has Global Positioning that helps farmers plant their crops, a good core stable business. Also has a growth driver, Fixed Line Wireless, which has great margins and great growth. Teamed up with Motorola to penetrate 3rd world countries. Thinks they can double their earnings growth over the next year.

Still money to be made, but you have to be careful. Contracts are starting to reach a peak. Should have another good 6 months and then be very, very cautious.

Made a very cheap acquisition today of light oil. Metrics look pretty good. Their heavy oil is all hedged. The trust is cheap on relative terms.

Split into an exploration and a trust. Likes the exploration which has great opportunities. The trust is really cheap with a high yield.

Thinks that they will have growth from 4000 barrels to 6000 which would mean a drop of about $1 in cash flow which means it is trading at 3 X cash flow. Excellent properties. Should be some good growth. Very cheap.

Have the best animal model data that he has ever seen. If they can make the transition to human models, the stock would go to $10. Results could be out by the end of this year or the beginning of next.

Growing at least 20% organically. Oil and gas service sector is hot right now. This should continue for a couple of years. Feels that distributions will be raised several times.

Investors should be in "growth" income trusts rather than just for distributions. This is a growth trust and expected to grow 20% for the next several years.

Investors should be in "growth" income trusts rather than just for distributions. This one is a growth trust which they expect to grow 30/40%.