TOP PICK
Oil sands producer. Been in the penalty box because of disappointing pilot results. Now have 30 well pairs steaming away. 35% discount to net asset value. Will probably get acquired. Cheap.
TOP PICK
90% oil. Trades at a discount as opposed to its peers. A Bakken play. Possible acquisition.
TOP PICK
Should be a core holding in the portfolio along with Encana (ECA-T). Almost a doubling of production over the next 4 years or so. Great cost control.
PAST TOP PICK
(A Top Pick Aug 8/07. Up 36%.) Had been really cheap. Brought on Buzzard in the North Sea, which has been a real cash cow. 50% of the oil sands play, Long Lake looks like it is finally coming of age.
PAST TOP PICK
(A Top Pick Aug 8/07. Up 50%.) Gas weighted. Really good reserve growth. Best Reserves in the US. Still going higher.
PAST TOP PICK
(A Top Pick Aug 8/07. Up 24%.) No longer has a position. A Hold at the current time.
HOLD
Had a few production misses. Properties are not as good as the other North Sea junior, Oilexco (OIL-T) but it has tremendous netbacks (higher prices per barrel). Sees strong upside in this one.
BUY
Attractively valued and should go higher. One of the largest holders of Legacy Oil reservoirs. With enhanced recovery from CO2 flooding they are able to increase recovery. Should go higher.
HOLD
Poised to move a little higher. New management has developed a good strategic plan. Return on capital and other metrics are not as high as others.
BUY
Reserve bookings have basically doubled. Production is coming on very strong and looking to double the Shelby field. Good diversity of projects. Very high netbacks.
HOLD
Their new technology Thai appears to be proving out. Until there is some clarity around the new process he would treat it as a Hold. Colombia holdings are doing really well. Along with their Saskatchewan Bakken play.
BUY
Right place at the right time. (Montney play in B.C.) Very good at acquiring land. Too important not to get taken out. Sees significant upside.
BUY
Sitting on significant acreage in Saskatchewan’s Bakken oil play.
HOLD
A decent name. Has stayed down because it is just not in some of the really hot plays where expectation is much greater than people thought.
COMMENT
Good, but not great. A Hold, maybe even a Sell. Where the world is going, you need to offer a technological solution to get a premium valuation in a service area. Fairly highly indebted.