Twin Butte Energy (TBE.TO)

Recently sold his holdings. Likes the company over the longer-term but they are a heavy oil producer in Western Canada and right now are facing some pretty significant heavy oil differentials. Has a decent hedge position. Wouldn’t be surprised to see a bit of pressure on the stock if people get concerned about the differential.

The chart is finding some bottoms and they are higher. It is in a consolidation phase. Exit below $2.70

Small producer in Western Canada focused on heavy oil. Have re-created themselves with a few mergers and paid out a dividend. Got a multiple re-rating because people are more attracted to dividend stocks right now. Have done a very good job of increasing their production. Have a hybrid model where they are expecting 5%-6% yield but only 3% of production growth. 6.2% dividend.

(Market Call Minute.) A dividend payer. If you believe in over $80 oil, the dividend is safe.

Heavy oil producer. Just closed a couple of acquisitions recently. Yield appears to be pretty sustainable. Good coverage with their amount of debt with their cash flow. You need to be cautious as they are a smaller cap name.

Just made an accretive acquisition. Just increased the dividend and it is sustainable. Phenomenal steward of capital. Yield close to 7%. Becoming premier heavy oil producer.

6.6% dividend. Just went up. Heavy oil producer. 19k barrels per day and buying little producers that are cash starved. Dividend is safe. 3-4% production growth target.

Oil leveraged company, just had a great second quarter. Some Heavy Oil which differentiates them. It’s a bit small for him. Management team has a history of starting and selling or minimizing junior companies.