Brian Prokop
Member since: Apr '03
Oil/Gas Analyst at
Peters & Co.

Latest Top Picks

A very well run company with a lot of opportunity for further growth. Still the cheapest on the large caps. At current levels, you're getting their Canadian oil sands project for free. Horizon has a lot of investment that has to come forward with 1st production in 2008.
(Was a Top Pick Apr 3/03 at under $20.) One of the cheapest in the world in terms of production along with Canadian Natural Resources (CNQ-T) and Encana (ECA-T). Good set of North American Assets. Pretty large position in North Sea assets. Also has assets in south east Asia with a very high margin product.
Reserve life is about 9/10 years. Management has a lot of ownership. Do a really good job of focusing on costs. In the order of 50,000 BOE now.
Over the last 15 years has been a top decile performer, i.e. always in the top 10% of its peer group with respect to operating costs, growth, finding development costs. A very well run company. One of the cheapest ones out there trading at a multiple of about 4 X cash flow. Their oil sands project with Horizon isn't factored into the stock.
Just made an acquisition in the Norwegian part of the North Sea. Getting back to the Talisman of old. Wouldn't be surprised to see a couple of more in that area. 2nd cheapest in their peer group.