Balance sheet is strong and you are basically getting the exploration potential for free. Has exploration upside in Brazil, Ghana, Libya, Australia etc.

(A Top Pick Sept 22/08. N/A.) Recovery is happening so you can now be fully invested so you should be rotating out of cash.

(A Top Pick Sept 22/08. Down 4.75%.) One of the more solid names. Sold in March because of concerns about debt and refinancing. Held in fairly well because it is heavy oil and differentials have been narrowing considerably.

The issue on gas is how long can a company sustain operations at the low price. They need a price of around $6. With $57 million cash on the balance sheet it will be able to ride out the storm.

In the international space. Looks attractive. Could see it as a takeover target at some point.

Managed fairly conservatively. 60% of the business is gathering and midstream and midstream has been very profitable. Relatively safe. Management has indicated they will be paying a dividend of about the same level after they convert to a corp.

Historically has issued a lot of convertible debt but is paying it down and cleaning up its balance sheet. Direction is positive.