Joanne Hruska - on LEG. LEGACY OIL + GAS INC. (LEG/TSX)
The position: Recently added to positions in other funds
Why do you like it? This 85%-weighted oil producer, which operates primarily in Canada, is relatively new so its production growth has been very strong. Hruska notes Legacy’s stock has recently been hurt by negative rumours, including suggestions it was going to decrease its bank line and report weak reserve numbers. “There has been a lot of chatter, but none of it has been true,” she said.
Biggest risks: Highly levered to oil prices; the outcome of drilling results