DON'T BUY
Fairly gas weighted. He tends to be more bullish on the oil side of things. Feels there are better names such as Encana (ECA-T).
COMMENT
Re: Past Top Picks. BNN miscalculated the % returns. Any mathematicians out there feel free to double check what I calculated for you.
SELL
Cutting back at the Great Divide project from 9000 barrels to 5000. Low commodity prices make it difficult for some of these oil sands projects to work. Better names available.
PARTIAL BUY
One of the more interesting names in oil. Has Petrominerales (PMG-T), Bakken light oil in Saskatchewan and the Thai process. Thai has been a bit of a disappointment with sand issues, controlling velocity and technical issues. If it works, it's a homerun. 1% or 2% weighting in your portfolio would be preferable.
COMMENT
Regarded as a pretty good name. A lot of geographic production diversity. Very inexpensive. A little bit expensive in its production costs and have been a little bit behind the curve in their strategy. Could see $20 in 12 months with reasonable commodity prices. Prefers Canadian Natural Rsrcs (CNQ-T) or Encana (ECA-T).
COMMENT
A solid name but doesn't see a lot of catalysts given the commodity prices and the preferences given to senior producers. With $70 oil, which he expects in the latter half of 2009, this is a very strong holding.
BUY
Although a smaller trust, it is attractive. He would prefer a couple of others of the more senior producers such as Arc (AET.UN-T) or Crescent Point (CPG.UN-T).
SELL
(Market Call Minute.)
STRONG BUY
(Market Call Minute.) Good exposure to Montney. Conservative management. Survivor and possible consolidator in the patch.
BUY
(Market Call Minute.) A survivor. 5th largest oil/gas company in Canada.
BUY
(Market Call Minute.) Very strong company and very inexpensive. Great exposure to Montney.
HOLD
(Market Call Minute.) Just a little on the small side.
STRONG BUY
(Market Call Minute.) Very strong buy. Coming off a weak patch but should move higher, particularly with East Coast oil and gas as a catalyst.
HOLD
(Market Call Minute.) Recently combined with ProEx Energy. They just have to work this through.
TOP PICK
Infrastructure and gives you global exposure. Also diversified into various different areas of growth potential. Water, bridges, roads, etc.