Is the dividend safe? The dividend will depend on the oil price. He assumes $60 WTI and $20 heavy differentials and $10 light oil differential. WCP-T would have a 95% payout ratio based on these assumptions. It would trade at 4 times cash flow.

Do you like the MEG - HSE merger? He has been a supporter of tightening heavy differentials. He no longer holds MEG-T and regets it -- because it really is a high torque heavy oil company. The street does not think HSE-T will have to increase the bid to buy them. If you hold MEG-T you are essentially holding HSE-T now. He thinks there are better companies to invest in to maximize your exposure to heavy oil improving.

Do you like the MEG - HSE merger? He has been a supporter of tightening heavy differentials. He no longer holds MEG-T and regets it -- because it really is a high torque heavy oil company. The street does not think HSE-T will have to increase the bid to buy them. If you hold MEG-T you are essentially holding HSE-T now. He thinks there are better companies to invest in to maximize your exposure to heavy oil improving.

(A Top Pick Jan 05/18, Down 69%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. He sold this at $4.25. They announced last week a divestiture making them debt free and it trades below book value. They have bought back 10% of their shares. When the outlook for spending improves it will be back on his radar.

(A Top Pick Jan 05/18, Down 82%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. A pure pressure-pumper play. With a lack of interest in the service sector, he got out above $10. He does not like their pricing structure and does not support management's aggressive pricing strategy.

(A Top Pick Jan 05/18, Down 86%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. He sold out around $6.50. Demand for frac-sand is down and their is greater competition in the US. Spending plans have declined in Canada as well. He is not holding this right now.

He is not enamored with natural gas right now. He feels management is able to beat expectations, which should allow them to get re-rated going forward by the analysts.