BUY
One of his core holdings. Likes what management has been doing. Got TD Waterhouse sorted out. Now have a proxy operating for them in the north east US giving them access to takeovers.
DON'T BUY
Have a very good oil sands lease arrangement. Time horizon is a bit long on this one. If you want to get into the oil sands, you could get into a Suncor (SU-T) or some of the majors who have oil sands investmenst and who will pay dividends or will reach production a lot faster. Fully priced here.
WEAK BUY
Took some profits. Was really upset when their plant blew up. Thought they had sorted out those problems. Not on his favourite list any more.
BUY
Was buying just before their earnings came out. An economy stock. It's the bulk shipments such as sulpher, potash, grains, coal, etc. Can continue to see their earnings growing.
BUY
Has disappointed a few people. Went through a fairly major restructuring in terms of selling/buying assets and part of that really dropped their production levels so a number of people backed off on that. He has no problems owning this one.
BUY
Missed this one as well as Potash (POT-T), partly because of concerns on gas prices. International demand has increased as Chinese/Indian farmers are now able to afford these fertilizers. Expect there will be some pretty good earnings here.
BUY
Missed this one as well as Agrium (AGU-T), partly because of concerns on gas prices. International demand has increased as Chinese/Indian farmers are now able to afford these fertilizers. Expect there will be some pretty good earnings here.
PAST TOP PICK
(A Top Pick May 12/05. Up 15%.) All oil service companies such as Ensign (ESI-T), Precision (PD-T), Trinidad (TDG.UN-T) and Wellco (WLL.UN-T) are doing extremely well. Had a very wet spring which tied up some of the rigs and could affect the earnings. Would look to buy under $30. Still good value.
HOLD
All oil service companies such as Ensign (ESI-T), Precision (PD-T), Trinidad (TDG.UN-T) and Wellco (WLL.UN-T) are doing extremely well. Had a very wet spring which tied up some of the rigs and could affect the earnings. This one is a little trickier as they are talking about going into an income trust.
PAST TOP PICK
(A Top Pick May 12/05. Up 40%.) Still likes. Would buy on any dips.
TOP PICK
(A Top Pick May 12/05. Up 20%.) This is the kind of a junior oil that you want to get into. Went up, pulled back and is starting to move again. Drilling program is in place. Has got a lot of Saskatchewan production. Not a huge amount of risk in this. Good management.
BUY
Had a big run, fell back, consolidated and then started to run again. Made a major acquisition in January, brought their production up smartly and they seem to be absorbing that. Touted as a potential income trust and there is some justification for that. Good value here.
BUY
Not as easy to analyse as most oil companies. Have significant offshore operations. Multiples are not bad. Own good properties.
BUY
A spin out of Progress Energy Trust (PGX.UN-T). Has just gone through an acquisition. Likes it. Have lots of drillable land.
BUY
This is a Yemen stock. Have some absolutely super drilling opportunities. Close to pipeline tie-ins. The Yemen government is very appreciative of their effort. Have big, powerful partners. A great story.