Frederick Kozak

Thinks this is a company that will be a consolidator. Has morphed itself from a high impact exploration company, primarily focused on the Leduc, to an overall oil/gas company with significant upside potential. Have assembled a land base in the Montney region. Very competent management.

Focused on Thailand. Have onshore natural gas and offshore oil. About to get underway on their drilling program offshore Thailand for their oilfield development. Will be bringing on the Songkhla field, which should come on stream before the end of the year.

Oil exploration in Uganda. Discovery in Lake Albert. Currently drilling Kingfisher2 to appraise Kingfisher, which tested 14,000 barrels a day of oil but did not reach primary target. Should be reaching total depth near the end of this month. Has potential to prove up a very exciting oil discovery.

His target price is below current stock price. Guayuyaco field is very interesting. Potentially found the largest onshore discovery in Colombia in the last 10 years. Current drilling should put the pin in the oil field size and should be around the end of July.

Just being acquired by Daylight Resources.

Another analyst with his company likes this stock. Primarily in the northwestern Alberta area. Probably one of the companies around that area that is a good consolidator. Good company.

Likes this gas play.

About ready to start drilling on the Fine field in UK North Sea. If successful, they will have enough information to submit a field development plan to UK government. Also developing Causeway that is scheduled for production around the end of 2009. Have about 18 months before they see first oil. Likes the name, management and prospects but the market may work against it over the next year or so.

Very interesting project. Old oilfield project in southern Alberta called Little Bow. Been under water flood for over 20 years. Doing an alkaline solvent polymer flood to increase oil recovery. Very significant capital and operating costs at over $30 million. Big bet, but ultimately could see a lot of upside potential from those oil reserves.