Recently announced they are going to develop 500,000 barrels a day of oil sands through mining and upgrading. Have an enormous amount of reserves that are not producing. Long life reserves.

Because they couldn't get a buyer, they raised enough money to do 18 months of drilling to prove that they have the gas reserves. 2 cautions, 100% natural gas outside of North America and government takes about 85% of their production. Stock should do well when they come up with some drilling results.

80% natural gas. Tends to be under researched. Public guidance is that they are going to do about 4500/4800 barrels in the 4th quarter and going to do annualized of $1 a share. Those numbers were done in the summer when gas prices were lower. At $6 you are paying about 4 X cash flow.

Petro Canada (PCA-T) and Teck Cominco (TEK.MV.B-T) are partners in the oil sands. They are now in the sweet position of owning 30% of a project of only having to put up $100 million of the first $2.5 billion of spending. Fully priced. Wait for a lower oil price environment.

Experimenting with a new technique (THAI) to extract bitument from the ground. This company is at the higher risk of the spectrum because their business is dominately related to their oil sands ventures. The one underpinning of the stock is that they do own reserves.

Volume is going to start growing now. What really tips the balance in their favour is the oil sands.

A lot of income trusts are going to have to raise distributions to avoid income tax. This one is very oil oriented. Wouldn't be his #1 choice.

One of the great Canadian international success stories. Feels the lawsuit in Bangladesh is frivolous and will go away. Bangladesh is a small part of their operations. Stock dropping is a buying opportunity. India natural gas is about half the price of US.

One of the most successful companies year in year out. They have 100% interest in a new oil sands play (Horizon). Will start at 115,000 barrels a day and will grow to 230,000. 40 years reserve life with no exploration risks.

Has not been a fan of this stock, but they are 100% oil and the higher the price of oil, the better their leverage. Relatively high production costs. Low quality oil so their price is $20 below the regular rate. Doesn't expect it will become an income trust for a long time as they have a very aggressive growth strategy which will require a lot of capital.

90% natural gas. Given the concerns of the hurricane Katrina, it is expected natural gas prices will be strong. These people have not hedged. Drill for all their gas instead of relying on acquisitions.

Good management. Has been dramatic in both production and price performance. Highly oriented to natural gas, more than 60% of production.

Doing very well. Has a good track record. There aren't many natural gas companies you can invest in. Good value in its peer group.

Since PetroCanada (PCA-T) came in as a partner, it has gained enormous credibility with more certainty that the project will get built. Warrants are exercisable at $0.70 and there are a substantial number of them outstanding. In the short term, as these warrants are excercised, supply could bear down on the stock price. Rich in oil reserves. Very risky.

Stock has been on fire for about 3 years. When oil prices rose, the value of their reserves grew enormously. Have sanctioned an oil sands plant and they own 100% of the project.