COMMENT
Believes world is in a multi-year bull market for energy. Concerns for demand destruction during weak economy unfounded. Historically, demand growth for energy (even during a recession) has been steady. Oil inventories continue to fall even with US SPR releases (largest ever) and China under lockdown.
Unknown
COMMENT

Still sees meaningful upside for Canadian energy stocks in the form of share buybacks and dividends. Recent USA SPR release to reduce gasoline prices is unsustainable. Financial demand for oil has fallen, even when physical demand has remained strong. Believes OPEC is looking to establish a floor price even with US SPR releases.

Unknown
BUY
Recent miss of Q2 numbers are a temporary miss. Excellent dividend yield with massive opportunities is USA. Large exposure to Clearwater oil play in Canada. 80% upside is expected within the next year.
oil / gas
HOLD
Very beneficial exposure to European gas prices. Trading at 70% free cash flow yield. If conflict in Europe eases, will reduce gas prices. European tax on energy profits a major concern. Inventory depth a concern as well. Other names in energy sector that have better upside.
oil / gas
BUY
Very well managed company with excellent inventory depth (several decades). Using NCIB to buy back stock aggressively. Seeing major upside for stock. Should be debt free by the end of next year. Expecting a 5x multiple equates to $39 share price (100% upside).
oil / gas
BUY
Lowest of high conviction names. Has sold shares even though believes company has large upside. Expects share price to rise.
oil / gas
BUY
Well managed company. Recent acquisition of Clearwater royalty a plus. Preference is for Freehold (higher yield) and USA exposure. Second pick would be Topaz after Freehold.
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