Peerless Energy Inc. (PRY.A.TO)

Petrobank (PBG-T) has made an offer to acquire them. Extraordinarily talented management and he is surprised the deal has happened. You will get 0.8% in shares and the rest in cash.

Being acquired by Petrobank Energy (PBG-T), which is a great deal for Petrobank. Doesn't see any other bidders coming in. If you own, this will give you a play in the Bakkens field and access to their technology.

Well run company. Into a good play in the right area. Can’t comment on the valuation, as he hasn’t looked at it recently. Probably a take out in the longer term.

Just bought it at 4.80. It is an oil and gas company, primarily oil. It has had 100% drilling success. Royalty rights are still low on the new wells. Evaluation is low. It has pretty good value.