Andrew Cook

Has an oil sands project that is slated to come on in 2014-2015. Great optionality to it and great leverage to the price of oil. At these levels, is pretty reasonable to hold for the next couple of years.

A smaller silver producer. They have one silver mine and are attempting to ramp up with another. Good price.

Their ability to ramp up and grow production is what he likes about the story. Also likes the long-term fundamentals for silver.

Oil/gas producer in Thailand. The real story is their offshore Thailand oil production. Have had some significant success, which is continuing. Have the ability to double their production over the next year or so. Reasonable valuation at about 3X 2012 cash flows.

North Sea oil. Some production in Argentina but the real juice to the story is a development well that they are partnered with in the North Sea that is coming on in 2012 with a 2nd one in 2013. This will ramp up their cash flow and increase their production by 50%. Well-financed. Could pull back from here but would use that to accumulate.

North Sea oil. Between 2011-2013, with the projects they have coming on stream, they'll be tripling their production and cash flows. Cheap valuation.

Silver in Nevada. They are in the process of just starting production and as they begin production, there's typically a revaluation. Has performed reasonably well over the last 6 months to a year. Has significantly higher potential.

Has been a management shakeup and investing some assets. Will Barrick (ABX-T) take them out? The ducks are lining up to make a thesis. Will be price dependent. He would not invest in anything on the premise that they will be taken out. There are better places to put your money.

Likes the oil services sector. In spite of all the issues, oil is still trading very strong. Activity level should remain reasonably robust. Stock is pulled back so it's at a level where it is a reasonable buy.

Gold developer but not in production yet. Has a project in Brazil. Potential upside could come from some of their other projects that they have going on there. Probably won't do a heck of a lot until production is in the headlights.

Like most resource stocks, it has been going down for the better part of a year. However, global fertilizer demand still remains strong. This is an opportunity.

Uranium stocks. This is not on a lot of peoples radar screen at the moment. After the Japanese earthquake, a lot of people focused on other directions. There is probably also a lot of tax loss selling. Uranium will have legs longer term but in the short term, there doesn't seem to be any momentum. If you have the time horizon of a couple of years, it would be a good time to get in.

Likes the story. Service drilling company that is focused in South America some in Africa. Has a fair amount of debt and the stock has been under pressure. Did an acquisition that closed in September. The real story is their up-to-date technology that allows them into more remote areas. 80% of their rigs are contracted over the next year or so. Cash flows are going to ramp up over the next year.

Around the current price level would be a reasonable time to get in. He noticed that a lot of commodity stocks were underperforming the commodity but this one started to outperform copper in mid-October.

A lot of the small stocks have been hit. This is probably a reasonable level to get in.