Eric Nuttall has BUY: TOG Torc Oil & Gas Ltd. (TOG/TSX)
The position: 5.5% of fund.
Why do you like it? In addition to being run by a management team that has proven to be value creators, it also has two strong plays in the Cardium and the Alberta Bakken, where the company believes it has discovered 2 billion barrels of oil in place.
Nuttall sees upside for the company if it can find a joint venture partner to help with drilling.
“The stock is trading at a slight premium to the group, but with production expected to grow 50% this year, I think they’ll grow into their multiple,” he said.
Biggest risk: Exploration at the Monarch light oil resource play