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A Comment -- General Comments From an Expert (A Commentary)

BUY
One of the smaller producers. About 8000 barrels going to 12,000. Good growth prospects.
HOLD
In the zone that they could get acquired or, they could ultimately change into that trust.
DON'T BUY
Questionable whether the equity will be worth anything when all is done. Very speculative.
TOP PICK
It had a number of big successes at Pembina. Presently producing about 3100 BOE's a day. By the end of this year, they should be north of 4500. Growth is all been done with the drill bit, not acquisitions.
WEAK BUY
Expects a little bit of growth. Better growth stories in the junior gas area.
BUY
Has had big disappointments in Brazil which has to be sorted out. Expects it to move higher.
BUY
Have been restructuring and cutting their costs for the last 3/4 years. Still some reasonable upside because of metals going up.
TOP PICK
Sees fairly strong earnings progression. Their European operations should continue to supply a good bit of growth.
WAIT
Recently made a decent sized acquisition merging with Impact Energy. A good solid company. Watching it. May flat line a little.
TOP PICK
A good business that generates a ton of cash. A consolidating industry. Good management.
DON'T BUY
Can't understand why anyone would pay this amount for the stock as the stock will be virtually worthless when they come out of restructuring.
DON'T BUY
The market has been disappointed that management hasn't put any deals into the company. Other gas plays can offer better opportunities.
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