Cardinal Energy (CJ-T) vs Torc Oil & Gas (TOG-T). Very different companies. Cardinal is a medium gravity producer. They are 60% exposed. They are going to lower their debt. They can pay the 10% yield and that is sustainable. He would buy Cardinal Energy (CJ-T) vs Torc Oil & Gas (TOG-T). (Analysts’ price target is $6.44)

Cardinal Energy (CJ-T) vs Torc Oil & Gas (TOG-T). Very different companies. Cardinal is a medium gravity producer. They are 60% exposed. They are going to lower their debt. They can pay the 10% yield and that is sustainable. He would buy Cardinal Energy (CJ-T) vs Torc Oil & Gas (TOG-T).

Poster child for investors not wanting to own gas stocks anymore. A name that is intriguing. Trading 5.5 cash flow. Should be fully discounted. But there are concerns about take away, summer gas. Unless there is a demand increase LNG you need supply to fall off. He would rather be in the oily names. Valuation looks cheap. In the next year or two years it is hard to come with a catalyst for any natural gas name in Canada.

Very limited appetite for the mid-caps in Canada. Trading at 4.1 cash flow. They 5 years’ worth of proven reserves. Effectively paying below the value of the production and getting their unbook inventory for free. They shouldn’t spend any money on waterflooding. The stock market doesn’t give a darn about it.

(A Top Pick March 23/17 – Down 31%) A player in fracking sand. Sometimes you are wrong on the stock even if you are right on the fundamentals. A space that is not exciting anymore. Q4 is probably going to be very bad for them.

(A Top Pick March 23/17 - Down 16.4%.) This is outer stupidity. Talk later about this.

(A Top Pick March 23/17 - Up 5%.) US producers are up as they are not facing a discount on the price of oil.