Does the $427 million sale of their non-core assets make the stock more attractive? Absolutely. Entire makeup of the company has changed dramatically over the last year. Increased their bank line and did a $900 million term debt offering, which took away the overhang of their convertible debenture.

Likes to think of this as a capital destroyer. If you invested 5 years ago, you’ve lost 95% of your money. Has very distressed shallow gas assets in the Edmonton Sands play but they do have some fairly decent Cardium acreage and are slowly trying to migrate the portfolio development over to the oil side. Expect there will be a positive sale over the next few months.

Recently issued a press release in terms of their year end reserves. Looked at operating net backs and the findings/development costs and the recycle ratio of about 1.1X did not make a significant value maker. There are better places to be.

Exclusively focused in the North Sea and the company is projecting 20,000 barrels a day by the end of 2013. There is an offer out for this one and he thinks they are soliciting bids from other parties. Expect the company will be sold in the range of $3.25-$3.50.

Looking at this one closely because he sees a lot of growth in the tank business. Expect that by the end of 2012 they will have 400 tanks in service and about 75% directed towards oil activity and he can see continued legs in the business. Also have a very large and growing footprint in the US. Over time he can see competition but can still see an expected rate of growth going forward.

Has been paring back exposure to energy infrastructure in favour of more growth oriented E&P names. Feels dividend is stable on this one but wouldn't expect dividend increases over time. An uncertainty here is the re-contracting business on Alliance that is going to take place in 2015.

Doesn't like the fundamentals of gas. Feels gas is going to stay range bound in the $2.50-$3 range. In spite of this, this company has great cost structure, fantastic balance sheet and good management.