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Market. He is bullish on natural gas and weary on oil. When we have winter things change very quickly. Mother nature takes down storage so quickly that it changes fundamentals very quickly. The price chart spiked up quickly in the winter of 2014. It is these weeks of 200 BCF draw downs that do it. It is again cool and if we have another cold spurt, every time you have had 4 historically, you have a spike up to $5 for gas. If cold weather persists we will see $3-$3.50 for gas. He is bearish on oil because US production will get back up overly quickly. ECA-T is saying they increased production 30% and will do so another 30% this year. OPEC is cheating. It is a percentage of honesty. They are producing more than quota already. Iraq has to get money in the door to perform repairs to the country. More capacity has to come online.

(A Top Pick Jun 12/17, Down 39%) He added it December but it has not done anything yet. It could turn around quite quickly.

(A Top Pick Jun 12/17, Down 1%) Mid-December he pulled the trigger on this one as well as other gas stocks.

(A Top Pick Jun 12/17, Down 32%) This was a top pick to buy some time after the show. It did quite well after the weakness he was looking for in order to buy. They are a Canadian driller.

75% Nat Gas. Spirit river play. Their book value is $15.93. It has already had a bounce since tax loss selling ended. (Analysts’ target: $2.75).

74% natural gas. They just added another facility. Book value was $5.70.

Management has done a good job. 71% natural gas. They pay a dividend. Book value is $6.63. (Analysts’ target: $3.00).

He likes the stock. Book value is $16.95 and it is trading at $11.50. Debt load not bad. It has been hammered because volumes have not increased. Stock issues were made when they said they would not do them. Debt went up in 2017.

In the end he thinks NAFTA won’t be cancelled. The energy portion is something they need. They should want to import from Canada rather than OPEC. He likes the company. They have no debt. They had success in wells in Morocco. He thinks it is a $5 to $10 stock in 5 to 10 years.

It is trading at book value ($7.58). It is 90% oil. They are going to spend $380 Million in 2018. It is a buy on any weakness. In the $6 area it makes a lot of sense.

They get very high gas prices in Europe. The stock has held up very well. It could be a core holding.

When it gets to book value just under $28 at present, it is a buy, historically. In 2017 the price of oil was up 7% and this one did very well. Nat gas went down 20%. Mother nature could close their value gap very quickly with a cold winter.

They had a recent discovery but it is too small of an entity for analysts to cover. Turkey is not an energy territory.

The balance sheet is superb. Book value is $3.40. They have an ability to grow the company. It is on his watch list. If it gets near the book value it could be quite attractive.

He met with management last year. They will go from 2000 to 10,000 BOEs capacity in 2019. They are bringing on wells as economically as possible. By Q1’19 they want to be ready. He likes what he has seen in the company.