Michael Giordano, VP Investments & Portfolio Manager, Stone Asset Mgmt.
FOCUS: Resource Stocks
- Long Run Exploration (LRE TSX) – Last purchased November 15, 2012 at $4.38
Long Run is a junior oil and gas company created thought the merger of Guide and Westfire. It is focusing on the Montney oil play in western Alberta and the Viking at Redwater. It is evenly split production of oil and natural gas and has 1 million acres of undeveloped land. It recently sold some properties in Saskatchewan for excellent prices to bring down its debt level. It is run by the experienced ex-management team of Penn West.