Has done very well because of its leverage to oil prices. If there is a correction in oil prices, he could see this dropping to below $30.

Good management. Trying to sell their Libyan assets.

Fabulous company. Horizon is now on and is ramping up. Using the cash flow to pay down debt. Would be a fabulous by $55-$60.

Heavy oil play in Albania. Caller has warrants due to expire and is thinking of selling those, waiting for a downturn in shoulder season and then picking up longer-term warrants 2 years out. Answer: A reasonable strategy as the stock price is fairly valued at this level. Currently producing about 6400 BOEs a day and ramping up to 8200 by year-end. Wouldn't rush out and buy the stock today.

NYMEX Oil Bull+ ETF. Had owned this but sold it in frustration because it re-balanced daily. If you went from $50 oil to $75 oil, that would be terrific if you got direct exposure, but what happens is that your price goes up and down on the way.

Dividend isn't great but they did raise it recently. This is a direct leverage to oil prices and says he is positive on oil, you should continue to hold. You could also consider Baytex Energy (BTE.UN-T) or Arc Energy (AET.UN-T), which is a little more gas weighted but a well managed trust.

This company is pretty much in shallow gas and gas prices have just gone from bad to worse. If things were to deteriorate further, a distribution cut could happen.