BUY
Acquiring Highpine (HPX-T), which is generally perceived as a good move as it gives them light oil. Solid management, which has hedged when it should and is defensive. 11.3% distribution.
HOLD
Good name. Gets 50%-60% of Brent (?) so it gets world prices for its heavy oil in Albania. Has had a good run so over the next 6 months his outlook would be sideways. Some upside but not tremendous. Good long-term hold.
COMMENT
One of his least favourite names. Will probably be okay because they recently went to the market and raised some money. Would be cautious on this name. If there is a little bit of lift, he would be inclined to sell.
BUY ON WEAKNESS
This is the leader in terms of the complex semi-submersibles for deep shore applications. If you're comfortable with the currency risk, it looks like a good name to hold. Pretty much of a monopoly on the rigs and are booked years in advance. If it drops after the earnings, pick up more.
BUY
Good balance sheet and management team. It will be a consolidator.
BUY
Have some opportunities with their Southeast Asian fields to further delineate them and show some good production in the future. East Coast also seems to be a positive. Refining is a slight negative but not a huge one. Low downside risk and reasonable upside.
BUY
In terms of income oriented oil/gas companies, this is probably one of the best if not the best. Consolidated at play in Saskatchewan in the Bakken light oil area. Recently added another play nearby as well. Considers it a core holding. 7.5% yield.
DON'T BUY
Drillers have done reasonably well lately, which is surprising because all the fundamentals of natural gas are pretty poor for drillers. This one has a complex suite in that it can go deeper as well as to directional drilling. Has a reasonably high level of debt.
HOLD
(Market Call Minute.) Has done a few things well with the Profound acquisition but is gas weighted with a short reserve life.
HOLD
(Market Call Minute.) Solid, solid company.
BUY
(Market Call Minute.) Great infrastructure name.
BUY
(Market Call Minute.) Longer-term Buy. One of the most conservative names. Well managed but a little gassy weighted and increasingly so.
SELL
(Market Call Minute.) Thinks the management team is weak and he doesn't like the collection of assets.