He feels that if the stock gets over $60, it will be fully valued. You are paying for the producing assets as well as a lot for the un-drilled, un-booked inventory that they have. However, over an extended period of time, this company stands out as one of the best allocators of capital.

This one has been a top pick out his for a long time and remains one of his favourite names because of the oil focus, the asset base and what the company is doing.

Canadian Natural Resources (CNQ-T) or Suncor (SU-T)? He is traditionally underweight large index names. His sweet spot is intermediates and small-caps. However this one would be the exception.

Canadian Natural Resources (CNQ-T) or Suncor (SU-T)? He is traditionally underweight large index names. His sweet spot is intermediates and small-caps however this would be a candidate for addition.

Have about 10,500 barrels a day of production. Very low decline rate. Real anchor of production is the Valhalla/Montney oil pool where they have recovered about 12% of the oil to date which has a very low decline profile. Ultimately should be able to recover up to 40% of the oil. Also acquired Compass, a Kindersley area company of Saskatchewan. Good success in drilling up Pembina/Cardium.

Significant and mostly contiguous land position in the Swan Hills play in Alberta. Very heated, light oil play that is getting a lot of attention in the market. Of the 130 sectors they have, probably 100 are light oil.

Oil weighted towards the Brent crude pricing, which is in the $125 plus range. About 60% of their production gets that higher price. Has an excellent suite of opportunities in Canada. Their drilling in the Pembina/Cardium is amongst the best. Their initial production rate is about 300 barrels a day and is very economic.