TOP PICK
Generally speaking, oil has lagged the market recovery so expects they will go quite a bit higher. Had problems with fire. Integration with Petrocan has not gone as well as people had hoped. April numbers where incredibly strong so it looks like they have finally turned the corner. Superlative management team and one of the best reservoirs. Long reserve life.
PAST TOP PICK
(A Top Pick June 24/09. Up 24%.) One of the best names in terms of dividend growth and overall growth. Not cheap, but with the current pullback, it's a good entry point.
PAST TOP PICK
(A Top Pick June 24/09. Up 14%.) Issue with them is their collection of disparate assets, which they have done a good job of cleaning up. Still more work to do. Will go higher eventually but is range bound right now. Hold.
PAST TOP PICK
(A Top Pick June 24/09. Down 8.2%.) Doesn't own any more but it is getting interesting. Wait 6-7 months before stepping into it.
COMMENT
Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management and better production but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but have had very disappointing production and haven't had the growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil.
BUY ON WEAKNESS
Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management team and is a better producer but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but had very disappointing production and haven't had the growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil.
BUY
Petrobakken (PBN-T) or Crescent Point (CPG-T)? Crescent Point has better management and is a better producer but is fully priced. Experimenting with some water flooding which has the potential of doubling reserves. Petrobakken is cheap but had very disappointing production and haven't had growth. An alternative would be Petrobank (PBG-T) that has better growth and leverage to heavy oil.
RISKY
Has a lot of production growth ahead of it. Has done a pretty good job of hedging. A little bit gas weighted. Expect natural gas prices will remain modest for the next little while. Good name to hold.
BUY
Decent name. Solid team and no issues with the balance sheet. Starting to get into shale plays and horizontal drilling. Good entry point.
RISKY
Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Tend to be a higher cost producer meaning higher leverage to the upside if prices rise and higher leverage to the downside if prices fall. Cheap relative to its competition.
RISKY
Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Good entry point.
WEAK BUY
Probably about the only way to play the oil sands with a junior. About 10,000 production and going up another 10,000 very shortly. Potential of a takeout. Fairly valued right now.
RISKY
Attractive. Frederick shale seems to be producing. Question is the macro growth story. What happens with the global growth story? If global growth is on the back burner, this story is not going anywhere. If global growth is back in the forefront, this one should go quite a bit higher.
HOLD
A little bit gassy but otherwise it is okay.
SELL
Have been pounding the table on their drilling in the Cardium. They are very big so have to find a lot more oil/gas to keep the production needle moving higher. Prefers Suncor (SU-T). If you own, he would be tempted to Sell this and buy Suncor. (See Top Picks.)