If you are bullish oil, you may want to look for others companies rather than waiting for the conversion to Vermilion. He would favour other names, like Baytex.

The dividend is safe in his mind. The dividend costs the company about $50 million per year and the company has $160 million in cash. Not an exciting company, but a safe income, he thinks. Yield 8%.

He sees tangible book value around $2.50 per share. Given the balance sheet of other potential suitors, he may not see many others beyond Ensign willing to bid for the company.

He does not believe the company will increase the dividend and does not see any huge upside, after meeting the new CEO. Some much of the strategy revolves around asset divestiture, which could take two years.

The debt is simply too high for him. There are no buyers for this small cap stock. If you hold this, think about taking a tax loss.

A good mid-cap name. He likes the upside on their Viking assets. They are generating good cash flow, buying back shares, paying down debt. He is looking for even more torque – heavy oil centric companies in particular.

A mico-cap that had some major issues. He would not look at this at all.