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Date   Company Stock Symbol Report Title Recommendation One Year Target Last Close
01.26.2012 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - January 26, 2012 N/A N/A N/A
01.25.2012 PDF ROCK TALK ROCK TALK - January 25, 2011 N/A N/A N/A
01.24.2012 PDF Lithium Americas Corp. LAC Cauchari-Olaroz Project Progressing as Planned Speculative Buy C$4.50 C$1.28
01.23.2012 PDF Corridor Resources Inc. CDH Corridor Becoming an Oil Story Speculative Buy C$2.50 C$1.02
01.23.2012 PDF COAL NOTES COAL NOTES - January 23, 2012 N/A N/A N/A
01.20.2012 PDF *OIL AND GAS SECTOR
Bankers Petroleum Ltd.
Calvalley Petroleum Inc.
Brownstone Ventures Inc.
Canacol Energy Ltd.
Coastal Energy Company
Corridor Resources Inc.
Gran Tierra Energy Inc.
Mira Resources Corp.
Pacific Rubiales Energy Corp.
Petroamerica Oil Corp.
Petrodorado Energy Ltd.
Petromagdalena Energy Corp.
Petrominerales Ltd.
Primeline Energy Holdings Inc.
Quetzal Energy Ltd.
Sea Dragon Energy Inc.
Suroco Energy Inc.
Valeura Energy Inc.
Winstar Resources Ltd.

BNK
CVI.A
BWN
CNE
CEN
CDH
GTE
MRP
PRE
PTA
PDQ
PMD
PMG
PEH
QEI
SDX
SRN
VLE
WIX
Commodity Price Forecast Update and Corresponding Target Adjustments N/A N/A N/A
01.19.2012 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - January 19, 2012 N/A N/A N/A
01.18.2012 PDF ROCK TALK ROCK TALK - January 18, 2012 N/A N/A N/A
01.16.2012 PDF Sea Dragon Energy Inc. SDX Sea Dragon Energy Inc. Speculative Buy C$0.20 C$0.095
01.16.2012 PDF COAL NOTES COAL NOTES - January 16, 2012 N/A N/A N/A
01.12.2012 PDF *MINING SERVICES SECTOR COMMENT Updated Exploration Spending Outlook N/A N/A N/A
01.11.2012 PDF *TOP PICKS
Bankers Petroleum Ltd.
Cardero Resource Corp.
Coastal Energy Company
Energold Drilling Corporation
Epsilon Energy Limited
Orbite Aluminae Inc.
Goldgroup Mining Inc.
Gran Tierra Energy Inc.
New Millennium Capital Corp.
Probe Mines Limited
SilverCrest Mines Inc.
Sulliden Gold Corporation Ltd.
Tuscany International Drilling Inc.

BNK
CDU
CEN
EGD
EPS
ORT
GGA
GTE
NML
PRB
SVL
SUE
TID
TOP PICKS 2012 N/A N/A N/A
01.11.2012 PDF ROCK TALK ROCK TALK - January 11, 2012 N/A N/A N/A
01.10.2012 PDF Valeura Energy Inc. VLE Q4 Production above Forecast, while Frac’ Program Looks Promising Speculative Buy C$9.00 C$2.18
01.10.2012 PDF Bankers Petroleum Ltd. BNK Bankers Meets Exit 2011 Guidance of 16,000 Bbl/d (with a couple of days’ grace) Buy C$10.50 C$4.60
01.10.2012 PDF Petromagdalena Energy Corp. PMD Removing Topoyaco Upside - Next High Impact Catalyst is at Santa Cruz Speculative Buy C$1.75 C$1.28
01.09.2012 PDF COAL NOTES COAL NOTES - January 9, 2012 N/A N/A N/A
01.05.2012 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - January 5, 2012 N/A N/A N/A
01.05.2012 PDF Coastal Energy Company CEN Bua Ban North A Begins Production and Revised Agreement Nets Higher Wellhead Prices Buy C$25.75 C$16.75
01.04.2012 PDF Labrador Iron Ore Royalty Corporation LIF.UN Tag Team:  A Growth & Yield Story Buy C$42.75 C$37.16
01.04.2012 PDF *MINING SERVICES SECTOR COMMENT MINING SERVICES SECTOR COMMENT - Exploration Spending Outlook N/A N/A N/A
12.22.2011 PDF Corridor Resources Inc. CDH Frederick Brook Farm-out on Hold Speculative Buy C$2.75 C$1.24
12.19.2011 PDF Gran Tierra Energy Inc. GTE 2012 Capital Budget Buy C$10.00 C$4.70
12.19.2011 PDF Orbit Garant Drilling Inc. OGD Lantech Drilling Acquisition Buy C$9.00 C$5.52
12.16.2011 PDF *TOP PICKS
Bankers Petroleum Ltd.
Cardero Resource Corp.
Coastal Energy Company
Energold Drilling Corporation
Epsilon Energy Limited
Orbite Aluminae Inc.
Goldgroup Mining Inc.
Gran Tierra Energy Inc.
New Millennium Capital Corp.
Probe Mines Limited
SilverCrest Mines Inc.
Sulliden Gold Corporation Ltd.
Tuscany International Drilling Inc.

BNK
CDU
CEN
EGD
EPS
ORT
GGA
GTE
NML
PRB
SVL
SUE
TID
TOP PICKS 2012 N/A N/A N/A
12.15.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - December 15, 2011 N/A N/A N/A
12.14.2011 PDF ROCK TALK ROCK TALK - December 14, 2011 N/A N/A N/A
12.13.2011 PDF Orbit Garant Drilling Inc. OGD Q1/12 Results Buy C$8.50 C$5.80
12.12.2011 PDF COAL NOTES COAL NOTES - December 12, 2011 N/A N/A N/A
12.12.2011 PDF Mercator Minerals Ltd. ML Mercator Minerals Ltd. Buy C$2.40 C$1.79
12.08.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - December 8, 2011 N/A N/A N/A
12.07.2011 PDF ROCK TALK ROCK TALK - December 7, 2011 N/A N/A N/A
12.07.2011 PDF Petrominerales Ltd. PMG Block 31 Continues to Disappoint Buy C$34.00 C$17.10
12.07.2011 PDF Major Drilling Group International Inc. MDI Q2/12 Results Buy C$25.00 C$15.00
12.06.2011 PDF Mira Resources Corp. MRP Final Test Results on TSB-1 - Formation Damage Inhibits Test Rates; Lowering Target Speculative Buy C$0.35 C$0.12
12.05.2011 PDF COAL NOTES COAL NOTES - December 5, 2011 N/A N/A N/A
12.02.2011 PDF Sulliden Gold Corporation Ltd. SUE Drilling Highlights North Corridor Potential; Equity Issue Trims NAV; Reducing Target Speculative Buy C$4.50 C$1.60
12.01.2011 PDF Mira Resources Corp. MRP TSB-1 - Light Oil, No Water, but No Production Rates Yet Speculative Buy C$1.25 C$0.18
12.01.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - December 1, 2011 N/A N/A N/A
11.30.2011 PDF Orbite Aluminae Inc. ORT Very Positive PEA Results for Orbite’s Planned Metallurgical Grade Alumina Plant Speculative Buy C$11.50 C$2.95
11.30.2011 PDF Energold Drilling Corporation EGD Q3/11 Results Buy C$8.00 C$4.06
11.30.2011 PDF ROCK TALK ROCK TALK - November 30, 2011 N/A N/A N/A
11.28.2011 PDF Suroco Energy Inc. SRN Suroco Energy Inc. Buy C$1.25 C$0.39
11.28.2011 PDF COAL NOTES COAL NOTES - November 28, 2011 N/A N/A N/A
11.28.2011 PDF Landdrill International Inc. LDI Reducing Target Buy C$0.25 C$0.125
11.24.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCH LIST - November 24, 2011 N/A N/A N/A
11.24.2011 PDF *METALS AND MINING SECTOR UPDATE
Apogee Silver Ltd.
Atacama Pacific Gold Corporation
Coro Mining Corp.
East Asia Minerals Corporation
First Metals Inc.
Levon Resources Ltd.
Spanish Mountain Gold Ltd.
Ur-Energy Inc.
Uranium Energy Corp.
Uranium Resources Inc.

APE
ATM
COP
EAS
FMA
LVN
SPA
URE
UEC
NASDAQ-URRE
Precious Metals Coverage Update N/A N/A N/A
11.23.2011 PDF ROCK TALK ROCK TALK - November 23, 2011 N/A N/A N/A
11.22.2011 PDF Foraco International S.A. FAR Tour Highlights Buy C$5.00 C$3.75
11.22.2011 PDF Taseko Mines Limited TKO Updating for Q3/11 Financial and Operational Performance Buy C$4.50 C$2.94
11.21.2011 PDF COAL NOTES Coal Notes - November 21, 2011 N/A N/A N/A
11.17.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST November 17, 2011 N/A N/A N/A
11.16.2011 PDF ROCK TALK ROCK TALK - November 16, 2011 N/A N/A N/A
11.15.2011 PDF Spartan Oil Corp. STO Model Update Leads to Higher Cash Flow Forecasts Buy C$6.00 C$2.96
11.15.2011 PDF Rio Novo Gold Inc. RN Almas DFS Back on - Development Timing Uncertainty at Guaranta; Toldafira on the Horizon Speculative Buy C$2.00 C$0.74
11.15.2011 PDF Bankers Petroleum Ltd. BNK Q3 Results - 16,000 Bbl/d Year-End Exit Still Achievable, Steam Injection to Commence this Month Buy C$10.50 C$5.21
11.14.2011 PDF COAL NOTES COAL NOTES - November 14, 2011 N/A N/A N/A
11.10.2011 PDF Epsilon Energy Limited EPS Well Shut-ins During Frac Ops Coupled with Delays on the Back of Flooding in Northern Pennsylvania Lead the Way to a Weaker than Expected Q3/11, but Production Ramp-up Still on Track N/A N/A N/A
11.09.2011 PDF ROCK TALK ROCK TALK - November 9, 2011 N/A N/A N/A
11.09.2011 PDF Foraco International S.A. FAR Q3/11 Results Buy C$5.00 C$3.60
11.09.2011 PDF Formation Metals Inc. FCO Game Far from over for Formation with BNP out of the Picture Speculative Buy C$1.50 C$0.52
11.08.2011 PDF New Gold Inc. NGD Q3/11 Results:  Miss Immaterial Next to Growth from B.C. Projects Buy C$18.50 C$12.52
11.08.2011 PDF Geodrill Limited GEO Q3/11 Results Buy C$4.50 C$2.37
11.07.2011 PDF COAL NOTES COAL NOTES - November 7, 2011 N/A N/A N/A
11.04.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - November 4, 2011 N/A N/A N/A
11.02.2011 PDF ROCK TALK ROCK TALK - November 2, 2011 N/A N/A N/A
10.31.2011 PDF Epsilon Energy Limited EPS Pennsylvania on the Cusp of Significant Production Ramp-up Buy C$7.50 C$3.20
10.31.2011 PDF COAL NOTES COAL NOTES - October 31, 2011 N/A N/A N/A
10.27.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - October 27, 2011 N/A N/A N/A
10.26.2011 PDF ROCK TALK ROCK TALK - October 26, 2011 N/A N/A N/A
10.25.2011 PDF Mira Resources Corp. MRP Initiating Coverage - Capitalizing on Marginal Fields in Nigeria Speculative Buy C$1.25 C$0.265
10.21.2011 PDF COAL NOTES COAL NOTES - October 21, 2011 N/A N/A N/A
10.21.2011 PDF Xinergy Ltd. XRG Q3/11 Results Buy C$6.00 C$2.87
10.20.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - October 20, 2011 N/A N/A N/A
10.19.2011 PDF ROCK TALK ROCK TALK - October 19, 2011 N/A N/A N/A
10.18.2011 PDF Probe Mines Limited PRB Initiating Coverage Speculative Buy C$4.75 C$2.19
10.18.2011 PDF Cline Mining Corporation CMK Q3/11 Results Speculative Buy C$4.00 C$1.91
10.17.2011 PDF Palliser Oil & Gas Corporation PXL Water Disposal Solution Key to Cash Flow Buy C$2.75 C$0.90
10.17.2011 PDF Canada Fluorspar Inc. CFI Strategic Agreement with Arkema Completed: Project is Now Fully Funded, Fully Permitted, and Acid Grade Prices are Holding at Record Levels Speculative Buy C$1.15 C$0.415
10.14.2011 PDF COAL NOTES COAL NOTES - October 14, 2011 N/A N/A N/A
10.14.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - October 14, 2011 N/A N/A N/A
10.13.2011 PDF Labrador Iron Mines Holdings Limited LIM Canada’s Newest Iron Ore Producer Buy C$11.00 C$7.21
10.13.2011 PDF Tuscany International Drilling Inc. TID Off Restriction - Acquisition Closed - Pivotal Quarters Ahead Buy C$1.40 C$0.68
10.12.2011 PDF ROCK TALK ROCK TALK - October 12, 2011 N/A N/A N/A
10.11.2011 PDF Auryx Gold Corp. AYX B2Gold Proposes Combination with Auryx Tender to Offer N/A C$0.46
10.07.2011 PDF Orbite Aluminae Inc. ORT Initiating Coverage - Poised to Revolutionize the Aluminium Industry Speculative Buy C$8.00 C$2.09
10.07.2011 PDF Inmet Mining Corporation IMN Discontinuing Coverage N/A N/A N/A
10.07.2011 PDF COAL NOTES COAL NOTES - October 7, 2011 N/A N/A N/A
10.07.2011 PDF *OIL AND GAS SECTOR
Brownstone Ventures Inc.
Canacol Energy Ltd.
Gran Tierra Energy Inc.
Pacific Rubiales Energy Corp.
Petrodorado Energy Ltd.
Petrominerales Ltd.
Quetzal Energy Ltd.
Suroco Energy Inc.

BWN
CNE
GTE
PRE
PDQ
PMG
QEI
SRN
Oil & Gas Sector Comment - Commodity Price Forecast Update and Corresponding Target Adjustments N/A N/A N/A
10.07.2011 PDF *OIL AND GAS SECTOR Oil & Gas Sector Comment - Transfer of Coverage to James Humen N/A N/A N/A
10.05.2011 PDF ROCK TALK ROCK TALK - October 5, 2011 N/A N/A N/A
09.30.2011 PDF COAL NOTES COAL NOTES - September 30, 2011 N/A N/A N/A
09.28.2011 PDF Apogee Silver Ltd. APE Initiating Coverage - A Deep Value Silver Name - The Big Bolivian Discount Unwarranted Buy C$1.25 C$0.18
09.28.2011 PDF ROCK TALK ROCK TALK - September 28, 2011 N/A N/A N/A
09.27.2011 PDF Hanfeng Evergreen Inc. HF Q4/11 Results Hold C$3.00 C$2.79
09.26.2011 PDF Goldgroup Mining Inc. GGA Goldgroup Consolidates Ownership at Flagship Caballo Blanco Gold Project Speculative Buy C$3.75 C$1.39
09.23.2011 PDF COAL NOTES COAL NOTES - September 23, 2011 N/A N/A N/A
09.23.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - September 23, 2011 N/A N/A N/A
09.22.2011 PDF Orbit Garant Drilling Inc. OGD Q4/11 Results Beat Buy C$8.50 C$5.25
09.21.2011 PDF ROCK TALK ROCK TALK - September 21, 2011 N/A N/A N/A
09.20.2011 PDF Surge Energy Inc. SGY Surge Announces Equity Financing Buy C$12.50 C$9.01
09.20.2011 PDF Arcan Resources Ltd. ARN Arcan Cashes up to Expedite Swan Hills Development Buy C$11.00 C$5.71
09.20.2011 PDF Cardero Resource Corp. CDU Site Visit Speculative Buy C$3.00 C$1.14
09.19.2011 PDF Arianne Resources Inc. DAN Initiating Coverage Speculative Buy C$2.75 C$2.25
09.16.2011 PDF Arcan Resources Ltd.
Legacy Oil Plus Gas Inc.
Novus Energy Inc.
Reliable Energy Ltd.
Renegade Petroleum Ltd.
Spartan Oil Corp.
Surge Energy Inc.
Torquay Oil Corporation
WestFire Energy Ltd.
Wild Stream Exploration Inc.
ARN
LEG
NVS
REL
RPL
STO
SGY
TOC.A
WFE
WSX
Junior Oil Growth - “Light the Way” N/A N/A N/A
09.16.2011 PDF COAL NOTES COAL NOTES - September 16, 2011 N/A N/A N/A
09.16.2011 PDF Taseko Mines Limited TKO Updating for Aley and Margin Pressures Buy C$4.50 C$3.46
09.15.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - September 15, 2011 N/A N/A N/A
09.15.2011 PDF Valeura Energy Inc. VLE Valeura completes Graduation to TSX and 10:1 Share Consolidation Speculative Buy C$9.00 C$2.09
09.15.2011 PDF Volta Resources Inc. VTR Increasing Target Price Buy C$6.25 C$1.60
09.15.2011 PDF First Majestic Silver Corp. FR La Parrilla Expansion on Track Buy C$30.00 C$20.34
09.14.2011 PDF ROCK TALK ROCK TALK - September 14, 2011 N/A N/A N/A
09.14.2011 PDF Naturally Advanced Technologies Inc. NAT Corporate Update Speculative Buy C$5.50 C$2.83
09.13.2011 PDF Major Drilling Group International Inc. MDI Bradley Group Acquisition Buy $23.00 C$11.70
09.13.2011 PDF Migao Corporation MGO Q2/12 Results Buy C$6.50 C$3.16
09.12.2011 PDF COAL REPORT COAL REPORT - September 12, 2011 N/A N/A N/A
09.08.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - September 8, 2011 N/A N/A N/A
09.07.2011 PDF ROCK TALK ROCK TALK - September 7, 2011 N/A N/A N/A
09.07.2011 PDF EMED Mining Public Limited EMD Initiating Coverage - Fast-track to Copper Production Speculative Buy C$0.35 C$0.15
09.07.2011 PDF Major Drilling Group International Inc. MDI Q1/12 Results Buy C$21.00 C$12.56
09.07.2011 PDF Coastal Energy Company CEN New Discovery at Bua Ban North A Offsets Operational Issues Buy C$19.00 C$9.99
09.06.2011 PDF Scorpio Gold Corp. SGN Initating Coverage - Ramping up Production at Mineral Ridge Speculative Buy C$1.75 C$0.73
09.06.2011 PDF *METALS AND MINING SECTOR UPDATE
Atacama Pacific Gold Corporation
Carpathian Gold Inc.
Cirrus Energy Corporation
First Majestic Silver Corp.
Goldgroup Mining Inc.
Guyana Goldfields Inc.
Minera IRL Ltd.
Minefinders Corporation Ltd.
New Gold Inc.
Rio Novo Gold Inc.
Sandspring Resources Ltd.
SEMAFO Inc.
SilverCrest Mines Inc.
Sulliden Gold Corporation Ltd.
Timmins Gold Corp.

ATM
CPN
CYR
FR
GGA
GUY
IRL
MFL
NGD
RN
SSP
SMF
SVL
SUE
TMM
Commodity Price Forecast Update and Corresponding Target Adjustments N/A N/A N/A
09.02.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - September 2, 2011 N/A N/A N/A
09.01.2011 PDF Epsilon Energy Limited EPS Saskatchewan begins to Come into the Picture:  First Two Well Results are Encouraging Buy C$7.00 C$3.30
09.01.2011 PDF Spanish Mountain Gold Ltd. SPA PFS Commenced at Spanish Mountain Gold Project Buy C$1.80 C$0.69
08.31.2011 PDF ROCK TALK ROCK TALK - August 31, 2011 N/A N/A N/A
08.30.2011 PDF Landdrill International Inc. LDI Q2/11 Results Buy C$0.60 C$0.195
08.30.2011 PDF Energold Drilling Corporation EGD Q2/11 Results Buy C$8.00 C$4.30
08.30.2011 PDF Sprott Resource Corp. SCP Initiating Coverage Buy C$6.25 C$4.85
08.26.2011 PDF Valeura Energy Inc. VLE Q2 Results are not Meaningful; The Second Half Program is the one to Watch Speculative Buy C$0.90 C$0.22
08.25.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - August 25, 2011 N/A N/A N/A
08.25.2011 PDF Atacama Pacific Gold Corporation ATM Maiden Resource Estimate 3.57 Million oz of Gold for Cerro Maricunga Buy C$9.25 C$5.25
08.24.2011 PDF ROCK TALK ROCK TALK - August 24, 2011 N/A N/A N/A
08.19.2011 PDF Cardero Resource Corp. CDU Initiating Coverage Speculative Buy C$3.00 C$1.19
08.17.2011 PDF Coastal Energy Company CEN Miocene Test Rates Propel Production Estimates and Cash Flow and May Add to Reserves Buy C$19.00 C#10.20
08.17.2011 PDF ROCK TALK ROCK TALK - August 17, 2011 N/A N/A N/A
08.16.2011 PDF Neo Material Technologies Inc. NEM Discontinuing Coverage N/A N/A N/A
08.16.2011 PDF Aeroquest International Limited AQL Under Review Under Review UNDER REVIEW UNDER REVIEW
08.15.2011 PDF Bankers Petroleum Ltd. BNK Bankers Returns to Reserve Growth Focus Buy C$10.50 C$4.89
08.12.2011 PDF Sprott Resource Lending Corp. SIL Q2/11 Results Buy C$2.25 C$1.59
08.11.2011 PDF Equity Financial Holdings Inc. EQI Q2/11 Results - Record Quarter Buy C$14.00 C$11.50
08.11.2011 PDF Atacama Pacific Gold Corporation ATM Expecting Resource Estimate Soon Buy C$9.25 C$4.70
08.11.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - August 11, 2011 N/A N/A N/A
08.10.2011 PDF ROCK TALK ROCK TALK - August 10, 2011 N/A N/A n/A
08.10.2011 PDF Xinergy Ltd. XRG Q2/11 Results Buy C$9.00 C$3.77
08.09.2011 PDF Foraco International S.A. FAR Q2/11 Results Buy C$4.00 C$3.00
08.09.2011 PDF Geodrill Limited GEO Q2/11 Results Buy C$5.00 C$2.37
08.09.2011 PDF Epsilon Energy Limited EPS Weaker than Expected Q2 on the Back of Chesapeake's 27-Day Voluntary Suspension of Frac Operations in Pennysylvania, but Highway 706 is Back on Track Buy C$5.50 C$2.78
08.04.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - August 4, 2011 N/A N/A N/A
08.03.2011 PDF ROCK TALK ROCK TALK - August 3, 2011 N/A N/A N/A
08.02.2011 PDF Centamin Egypt Ltd. CEE Q2/11 Financial Results and Guidance Revision:  Short-Term Issues Buy C$3.00 C$2.15
07.28.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - July 28, 2011 N/A N/A N/A
07.28.2011 PDF Xinergy Ltd. XRG Grows Metallurgical Coal Operations with True Energy Acquisition Buy C$9.00 C$4.70
07.27.2011 PDF ROCK TALK ROCK TALK - July 27, 2011 N/A N/A N/A
07.27.2011 PDF *OIL AND GAS SECTOR
Delphi Energy Corp.
Equal Energy Ltd.
Midway Energy Ltd.
Novus Energy Inc.
Palliser Oil & Gas Corporation
Reliable Energy Ltd.
Renegade Petroleum Ltd.
Torquay Oil Corporation
WestFire Energy Ltd.
Wild Stream Exploration Inc.

DEE
EQU
MEL
NVS
PXL
REL
RPL
TOC.A
WFE
WSX
Oil and Gas Sector Comment-Discontinue Coverage on Midway/Tranfer of Coverage to Stephen Calderwood N/A N/A N/A
07.26.2011 PDF Taseko Mines Limited TKO Updating for GDP3, New Prosperity and Aley Buy C$5.50 C$4.35
07.25.2011 PDF Sulliden Gold Corporation Ltd. SUE Initiating Coverage - A Growing Au-Ag Heap-Leach Opportunity In Prolific Peruvian Mining Country Speculative Buy C$4.25 C$2.02
07.22.2011 PDF *SPECIALTY LENDERS SECTOR COMMENT
Equitable Group Inc.
First National Financial Income Fund
Home Capital Group Inc.

ETC
FN.UN
HCG
SPECIAL SITUATIONS SECTOR COMMENT N/A N/A N/A
07.21.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - July 21, 2011 N/A N/S N/S
07.21.2011 PDF *OIL AND GAS SECTOR
Bankers Petroleum Ltd.
Calvalley Petroleum Inc.
Brownstone Ventures Inc.
Canacol Energy Ltd.
Coastal Energy Company
Corridor Resources Inc.
Delphi Energy Corp.
Equal Energy Ltd.
Gran Tierra Energy Inc.
Midway Energy Ltd.
Novus Energy Inc.
Pacific Rubiales Energy Corp.
Palliser Oil & Gas Corporation
Petroamerica Oil Corp.
Petrodorado Energy Ltd.
Petromagdalena Energy Corp.
Primeline Energy Holdings Inc.
Quetzal Energy Ltd.
Reliable Energy Ltd.
Sea Dragon Energy Inc.
Suroco Energy Inc.
Torquay Oil Corporation
Valeura Energy Inc.
WestFire Energy Ltd.
Wild Stream Exploration Inc.
Winstar Resources Ltd.

BNK
CVI.A
BWN
CNE
CEN
CDH
DEE
EQU
GTE
MEL
NVS
PRE
PXL
PTA
PDQ
PMD
PEH
QEI
REL
SDX
SRN
TOC.A
VLE
WFE
WSX
WIX
Commodity Price Forecasts Update and Corresponding Target Adjustments N/A N/A N/A
07.20.2011 PDF ROCK TALK ROCK TALK - July 20, 2011 N/A N/A N/A
07.19.2011 PDF Petromagdalena Energy Corp. PMD Alange Changes Name and Consolidates Shares - No Operational Changes Speculative Buy C$2.10 C$1.30
07.14.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - July 14, 2011 N/A N/A N/A
07.13.2011 PDF Calvalley Petroleum Inc. CVI.A Operations Restrictions in Q2 Mostly Resolved, Development Delayed N/A N/A N/A
07.13.2011 PDF ROCK TALK ROCK TALK - July 13, 2011 N/A N/A N/A
07.07.2011 PDF Bankers Petroleum Ltd. BNK Production Growth Proves More Difficult at 12,000 Bbl/d Buy C$10.50 C$6.07
07.07.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - July 7, 2011 N/A N/A N/A
07.06.2011 PDF ROCK TALK ROCK TALK - July 6, 2011 N/A N/A N/A
07.04.2011 PDF Coastal Energy Company CEN Miocene Continues to Add Reserves, More Potential & (soon) Production Speculative Buy C$14.25 C$8.46
06.30.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - June 30, 2011 N/A N/A N/A
06.29.2011 PDF ROCK TALK ROCK TALK - June 29, 2011 N/A N/A NA/
06.29.2011 PDF Volta Resources Inc. VTR Kiaka Delivers 4.28 Million oz of Gold Buy C$5.25 C$1.52
06.28.2011 PDF Volta Resources Inc. VTR Kiaka - Last Set of Drill Results before Resource Update Buy C$5.25 C$1.33
06.27.2011 PDF Mercator Minerals Ltd. ML Costs Hit Mercator’s Bottom Line Buy C$4.00 C$2.53
06.27.2011 PDF Bennett Environmental Inc. BEV Under Review Under Review Under Review C$2.06
06.27.2011 PDF Cline Mining Corporation CMK $86 Million Financing Completed Speculative Buy C$5.50 C$2.21
06.23.2011 PDF Levon Resources Ltd. LVN Levon Resources Ltd. Buy C$3.00 C$1.66
06.23.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - June 23, 2011 N/A N/A N/A
06.23.2011 PDF Energold Drilling Corporation EGD Acquires Energy Services Driller Buy C$8.00 C$4.35
06.22.2011 PDF ROCK TALK ROCK TALK - June 22, 2011 N/A N/A N/A
06.21.2011 PDF Valeura Energy Inc. VLE Initiating Coverage - Early Mover in an Energy Hungry Turkey Speculative Buy C$0.90 C$0.29
06.16.2011 PDF Canada Fluorspar Inc. CFI St. Lawrence Fluorspar Project to be Funded under Strategic Agreement with France's Leading Chemical Producer Arkema Speculative Buy C$1.15 C$0.57
06.16.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - June 16, 2011 N/A N/A N/A
06.15.2011 PDF ROCK TALK ROCK TALK - June 15, 2011 N/A N/A N/A
06.13.2011 PDF Landdrill International Inc. LDI Initiating Coverage Buy C$1.00 C$0.325
06.13.2011 PDF Torquay Oil Corporation TOC.A Torquay off Restriction - Ratcliffe and Bakken Activity to Begin Post Break-up Buy C$3.50 N/A
06.10.2011 PDF Migao Corporation MGO Q4/11 Results Buy C$9.00 C$4.47
06.09.2011 PDF Xinergy Ltd. XRG Site Visit and Q1/11 Results Buy C$8.00 C$3.95
06.09.2011 PDF Major Drilling Group International Inc. MDI Q4/11 Results Buy C$21.00 C$13.20
06.09.2011 PDF Pershimco Resources Inc. PRO Initiating Coverage - Cerro Quema - Just Scratching the Surface? Speculative Buy C$2.00 C$0.90
06.09.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - June 9, 2011 N/A N/A N/A
06.08.2011 PDF ROCK TALK ROCK TALK - June 8, 2011 N/A N/A N/A
06.08.2011 PDF Winstar Resources Ltd. WIX Winstar Lays out Operational Plans for Balance of 2011 Speculative Buy C$7.75 C$3.80
06.08.2011 PDF SilverCrest Mines Inc. SVL Fantastic Play on Silver, Backed by Gold; La Joya is Icing on the Cake Speculative Buy C$4.00 C$1.28
06.02.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - June 2, 2011 N/A N/A N/A
06.01.2011 PDF EastCoal Inc. ECX Initiating Coverage Speculative Buy C$2.00 C$0.82
06.01.2011 PDF Rio Novo Gold Inc. RN Toldafira Acquisition Adds an Advanced Exploration Target in Colombia Speculative Buy C$3.50 C$1.43
06.01.2011 PDF ROCK TALK ROCK TALK - June 1, 2011 N/A N/A N/A
06.01.2011 PDF New Gold Inc. NGD Blackwater Acquisition Completed; 10 Rigs Planned by Year-End Buy C$16.25 C$10.06
06.01.2011 PDF Corridor Resources Inc. CDH Apache is now Passe Speculative Buy C$4.00 C$3.18
06.01.2011 PDF SEMAFO Inc. SMF Cost Guidance Increased; Reducing Target Buy C$13.75 C$8.47
05.31.2011 PDF Energold Drilling Corporation EGD Q1/11 Results Show Strong Beat Buy C$8.00 C$4.46
05.30.2011 PDF Equal Energy Ltd. EQU The Trifecta - Viking, Cardium and now Oklahoma Mississippian Light Oil Buy C$12.25 C$7.20
05.30.2011 PDF Equal Energy Ltd. EQU Huntin’ for Hunton Buy C$12.25 C$7.20
05.27.2011 PDF Canadian Western Bank CWB Discontinuing Coverage N/A N/A C$30.13
05.26.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - May 26, 2011 N/A N/A N/A
05.26.2011 PDF Epsilon Energy Limited EPS The Mississippi Brown Dense:  A Potential Game Changer Buy C$5.50 C$3.82
05.25.2011 PDF ROCK TALK ROCK TALK - May 25, 2011 N/A N/A N/A
05.25.2011 PDF Petroamerica Oil Corp. PTA Off Restriction - Future Funding an Issue Speculative Buy C$0.20 C$0.17
05.24.2011 PDF Corridor Resources Inc. CDH Will Apache Elect to Continue to Phase 2 of the Farm-in? Speculative Buy C$6.50 C$4.45
05.19.2011 PDF Formation Metals Inc. FCO Initiating Coverage - On the Cusp of Becoming the Only Producer of High-Purity Cobalt in the U.S.A. Speculative Buy C$2.60 C$1.07
05.19.2011 PDF Palliser Oil & Gas Corporation PXL Water Handling Issues Hamper Q1/11 Results Buy C$2.75 C$1.60
05.19.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - May 19, 2011 N/A N/A N/A
05.19.2011 PDF Equitable Group Inc. ETC Q1/11 Results Buy C$50.00 C$30.00
05.18.2011 PDF ROCK TALK ROCK TALK - May 18, 2011 N/A N/A N/A
05.18.2011 PDF Delphi Energy Corp. DEE Delphi Production Lagging but Non-Material Buy C$3.25 C$2.43
05.18.2011 PDF Coro Mining Corp. COP Initiating Coverage - A Deep Value Copper Name - Positive Permitting Decision Will Unlock Value Buy C$2.00 C$0.91
05.17.2011 PDF Coastal Energy Company CEN Exploration Success Boosting Oil Reserves and Production Speculative Buy C$11.25 C$6.15
05.13.2011 PDF Hanfeng Evergreen Inc. HF Q3/11 Results Buy C$6.50 C$5.05
05.13.2011 PDF Equity Financial Holdings Inc. EQI Q1/11 Results - Cashing in on M&A Buy C$14.00 C$8.75
05.13.2011 PDF WestFire Energy Ltd. WFE Stars Align for Viking Success as WestFire Acquires Orion Buy C$11.75 C$7.65
05.12.2011 PDF Neo Material Technologies Inc. NEM Q1/11 Results; Raising Target Buy C$14.00 C$9.77
05.12.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - May 12, 2011 N/A N/A N/A
05.11.2011 PDF Orbit Garant Drilling Inc. OGD Q3/11 Results Buy C$8.50 C$5.40
05.11.2011 PDF ROCK TALK ROCK TALK - May 11, 2011 N/A N/A N/A
05.11.2011 PDF Calvalley Petroleum Inc. CVI.A Highlights from AGM, Curving 2012 Production on Pipeline Delay Speculative Buy C$7.75 C$2.77
05.10.2011 PDF Suroco Energy Inc. SRN Cohembi Pool Update - Suroriente Block Buy C$1.40 C$0.78
05.10.2011 PDF Foraco International S.A. FAR Q1/11 Results Buy C$3.50 C$2.70
05.09.2011 PDF Geodrill Limited GEO Initiating Coverage Buy C$6.00 C$3.00
05.06.2011 PDF Tuscany International Drilling Inc. TID Tuscany International Drilling Inc. Buy C$2.25 C$1.30
05.05.2011 PDF Asia Bio-Chem Group Corp. ABC Discontinuing Coverage N/A N/A $1.15
05.05.2011 PDF Atacama Pacific Gold Corporation ATM Increasing Multiple; Raising Target Price Buy C$9.25 C$5.30
05.05.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - May 5, 2011 N/A N/A N/A
05.04.2011 PDF ROCK TALK ROCK TALK - May 4, 2011 N/A N/A N/A
05.03.2011 PDF Alange Energy Corp. ALE Reports Q4/10 Results and Operational Update Hold C$0.30 C$0.28
05.02.2011 PDF Afferro Mining Inc. AFF African Aura’s Spinout Complete Speculative Buy C$4.50 C$2.00
05.02.2011 PDF Reliable Energy Ltd. REL Initiating Coverage - A Whole Lotta Bakken Buy C$0.60 C$0.46
04.29.2011 PDF Naturally Advanced Technologies Inc. NAT Initiating Coverage Speculative Buy C$5.50 C$3.10
04.29.2011 PDF Torquay Oil Corporation TOC.A YE 2010 Results and Reserves Buy C$3.50 C$1.88
04.28.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - April 28, 2011 N/A N/A N/A
04.27.2011 PDF Renegade Petroleum Ltd. RPL YE2010 Results/Reserves, Operational Update and 2011 Guidance Buy C$6.00 C$3.90
04.27.2011 PDF ROCK TALK ROCK TALK - April 27, 2011 N/A N/A N/A
04.27.2011 PDF Xinergy Ltd. XRG High Yield Financing to Fund CAPEX Buy C$8.00 C$4.15
04.25.2011 PDF Canacol Energy Ltd. CNE Revising Guyana Assumptions after Unsuccessful K-2 Exploration Well Buy C$1.85 C$1.21
04.25.2011 PDF Wild Stream Exploration Inc. WSX Scope at Shaunavon Continues to Expand Buy C$14.75 C$11.86
04.25.2011 PDF Mercator Minerals Ltd. ML Got Growth! Buy C$5.00 C$3.44
04.21.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - April 21, 2011 N/A N/A N/A
04.21.2011 PDF Coastal Energy Company CEN Rough Q4 is over, and the Exploration Portfolio Grows in Size and Quality Speculative Buy C$9.50 C$5.99
04.21.2011 PDF Spanish Mountain Gold Ltd. SPA Initiating Coverage - Deep Value Gold Stock Buy C$1.75 C$0.65
04.20.2011 PDF ROCK TALK ROCK TALK - April 20, 2011 N/A N/A N/A
04.20.2011 PDF Energold Drilling Corporation EGD Q4/10 Results Buy C$7.00 C$4.20
04.20.2011 PDF Ur-Energy Inc. URE Initiating Coverage - Re-Rating Likely as Company Nears Production Buy C$3.25 C$1.53
04.19.2011 PDF Lithium Americas Corp. LAC Details of Cauchari-Olaroz Project; PEA Released Speculative Buy C$4.50 C$2.22
04.18.2011 PDF Goldgroup Mining Inc. GGA Initiating Coverage Speculative Buy C$2.25 C$1.39
04.18.2011 PDF Cline Mining Corporation CMK Raising Target Following Site Visit Speculative Buy C$6.50 C$3.64
04.15.2011 PDF Novus Energy Inc. NVS Extended Spring Break-up may Lead to an Extremely Active Q3 Drilling Program Buy C$1.45 C$1.15
04.15.2011 PDF Wild Stream Exploration Inc. WSX Loading up on Land Buy C$14.75 C$11.31
04.14.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - April 14, 2011 N/A N/A N/A
04.13.2011 PDF ROCK TALK ROCK TALK - April 13, 2011 N/A N/A N/A
04.12.2011 PDF *OIL AND GAS SECTOR Ratcliffe Play N/A N/A N/A
04.11.2011 PDF Hanfeng Evergreen Inc. HF Full Report Buy C$6.50 C$5.03
04.08.2011 PDF Trelawney Mining and Exploration Inc. TRR Drill Results Confirm our Resource Estimate Speculative Buy C$8.00 C$5.25
04.08.2011 PDF Carpathian Gold Inc. CPN Positive Feasibility Study Sets Stage for 2013 Production Start-up at RDM Speculative Buy C$1.25 C$0.47
04.07.2011 PDF Uranium Energy Corp. UEC Initiating Coverage - Risk Reward Compelling for the New Uranium Producer in the U.S.A. Buy US$7.25 US$3.98
04.07.2011 PDF Torquay Oil Corporation TOC.A Initiating Coverage Buy C$3.50 C$1.69
04.07.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - April 7, 2011 N/A N/A N/A
04.06.2011 PDF ROCK TALK ROCK TALK - April 6, 2011 N/A N/A N/A
04.06.2011 PDF Palliser Oil & Gas Corporation PXL Water Disposal Issues Hamper Production, Should be Rectified by Late Q2 Buy C$3.00 C$1.86
04.05.2011 PDF *SPECIALTY LENDERS SECTOR COMMENT
Equitable Group Inc.
First National Financial Income Fund
Home Capital Group Inc.

ETC
FN.UN
HCG
Q1/11 Earnings Preview - Quarterly Earnings under IFRS and Target Changes N/A N/A N/A
04.05.2011 PDF Corridor Resources Inc. CDH Success in the Shale Will Take a While, but Old Harry May Provide Some Relief Speculative Buy C$6.50 C$5.19
04.04.2011 PDF Levon Resources Ltd. LVN Initiating Coverage - Resource Estimate will Boost Valuation Buy C$2.50 C$1.72
04.01.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - April 1, 2011 N/A N/A N/A
04.01.2011 PDF First Majestic Silver Corp. FR Del Toro Update Positive; Raising Target Buy C$22.00 C$20.61
03.31.2011 PDF Lithium Americas Corp. LAC Initiating Coverage Speculative Buy C$3.75 C$1.68
03.31.2011 PDF Equal Energy Ltd. EQU Not Everything is Equal Buy C$11.50 C$7.85
03.30.2011 PDF ROCK TALK ROCK TALK - March 30, 2011 N/A N/A N/A
03.29.2011 PDF Epsilon Energy Limited EPS A Glimpse at Q4/10: Chesapeake Marcellus Farm-in is on Track Buy C$5.00 C$3.97
03.28.2011 PDF Atacama Pacific Gold Corporation ATM Initiating Coverage - It is the Gold ATM Buy C$7.00 C$5.10
03.28.2011 PDF Palliser Oil & Gas Corporation PXL Off Restriction - PXL More than Doubles Reserves and Closes Special Warrant Financing Buy C$3.00 C$2.85
03.24.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - March 24, 2011 N/A N/A N/A
03.24.2011 PDF Migao Corporation MGO Full Report Buy C$12.00 C$6.96
03.23.2011 PDF ROCK TALK ROCK TALK - March 23, 2011 N/A N/A N/A
03.23.2011 PDF Diamonds North Resources Ltd.
True North Gems Inc.
Wesdome Gold Mines Ltd.
DDN
TGX
WDO
MINING SECTOR COMMENT - Suspending Coverage N/A N/A N/A
03.23.2011 PDF Volta Resources Inc. VTR Initiating Coverage - Kiaka is the Next Essakane Buy C$5.25 C$2.02
03.22.2011 PDF SPECIAL SITS RADAR SCREEN SPECIAL SITS RADAR SCREEN - March 22, 2011 N/A N/A N/A
03.22.2011 PDF Copper Mountain Mining Corporation CUM Revised Copper Price Forecast Speculative Buy C$8.00 C$6.92
03.22.2011 PDF Mercator Minerals Ltd. ML Revised Price Forecast for Copper and Molybdenum Buy C$4.25 C$3.63
03.22.2011 PDF East Asia Minerals Corporation EAS Initiating Coverage - One Plus One Equals Three Buy C$11.85 C$5.80
03.22.2011 PDF Winstar Resources Ltd. WIX HIgher 2011 Production Coming with Easing of Gas Restrictions and Continued Drilling Speculative Buy C$7.75 C$3.87
03.21.2011 PDF Uranium Resources Inc. NASDAQ-URRE Initiating Coverage - In-situ Recovery is Attractive; Conventional Milling to Add Upside Buy US$5.00 US$2.17
03.21.2011 PDF Major Drilling Group International Inc. MDI Adjusting Estimates for 3-for-1 Stock Split Buy C$21.00 C$16.05
03.21.2011 PDF Renegade Petroleum Ltd. RPL Off Restriction - Incorporating Financing, Acquisition and Expanding our Cap-ex Buy C$6.00 C$4,32
03.21.2011 PDF Midway Energy Ltd. MEL Midway Announces Equity Financing, Eases Balance Sheet Buy C$6.00 C$4.72
03.21.2011 PDF Delphi Energy Corp. DEE Delphi Announces Non-Brokered Equity Financing Buy C$3.25 C$2.42
03.21.2011 PDF Petrolifera Petroleum Limited PDP Discontinuing Coverage N/A N/A C$0.95
03.21.2011 PDF Quetzal Energy Ltd. QEI Further Clarity on Canaguaro Upside Speculative Buy C$0.30 C$0.11
03.21.2011 PDF Brownstone Ventures Inc. BWN Off Restriction, Further Clarity on Canaguaro and Israeli Upside Speculative Buy C$1.75 C$0.93
03.18.2011 PDF SEMAFO Inc. SMF Q4/10 Results - No Real Surprises Buy C$13.75 C$8.41
03.17.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - March 17, 2011 N/A N/A N/A
03.16.2011 PDF Rio Novo Gold Inc. RN Initiating Coverage Speculative Buy C$3.25 C$1.91
03.16.2011 PDF ROCK TALK ROCK TALK - March 16, 2011 N/A N/A N/A
03.15.2011 PDF Trelawney Mining and Exploration Inc. TRR Cote Lake Remains open, and New Production Plan for Chester Speculative Buy C$8.00 C$3.92
03.14.2011 PDF Bankers Petroleum Ltd. BNK 2010 Reserves - Growth a Little below Expectations, but Higher Upside Potential Buy C$10.50 C$8.38
03.14.2011 PDF Neo Material Technologies Inc. NEM Q4/10 Results Buy C$12.50 C$8.46
03.10.2011 PDF Junex Inc. JNX Ban on Hydraulic Frac’ing - Stock Under Review Under Review UNDER REVIEW C$1.00
03.10.2011 PDF Questerre Energy Corporation QEC Ban on Hydraulic Frac’ing - Stock Under Review Under Review UNDER REVIEW C$1.20
03.10.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - March 10, 2011 N/A N/A N/A
03.09.2011 PDF ROCK TALK ROCK TALK - March 9, 2011 N/A N/A N/A
03.09.2011 PDF WestFire Energy Ltd. WFE Expansion of Viking Program Lifts our Estimates and Target Buy C$11.75 C$8.91
03.09.2011 PDF Greystar Resources Ltd. GSL Minister of Mines Raises Serious Questions about Angostura in Particular and Colombia in General - Placing the Stock Under Review Under Review UNDER REVIEW C$2.35
03.08.2011 PDF Foraco International S.A. FAR Q4/10 Results Buy C$3.25 C$2.60
03.08.2011 PDF New Millennium Capital Corp. NML Agreement with Tata Steel Speculative Buy C$8.00 C$4.35
03.08.2011 PDF New Gold Inc. NGD Q4/10 Results - Another Solid Quarter; All Cashed-up and Ready to Go Buy C$14.75 C$10.42
03.08.2011 PDF SilverCrest Mines Inc. SVL Initial Drill Results Confirm La Joya’s Blue-Sky Potential; Raising Target Speculative Buy C$3.25 C$1.89
03.08.2011 PDF Major Drilling Group International Inc. MDI Q3/11 Results; Raising Target Buy C$62.00 C$48.11
03.07.2011 PDF *OIL AND GAS SECTOR
Coastal Energy Company
Equal Energy Ltd.
Novus Energy Inc.
Pacific Rubiales Energy Corp.
Petrominerales Ltd.
Wild Stream Exploration Inc.
Winstar Resources Ltd.

CEN
EQU
NVS
PRE
PMG
WSX
WIX
Oil and Gas Sector Update - Commodity Price Forecasts Update and Corresponding Target Adjustments N/A N/A N/A
03.07.2011 PDF Petroamerica Oil Corp. PTA Petroamerica Withdraws from Blocks COR-12 and COR-14 Speculative Buy C$0.75 C$0.455
03.07.2011 PDF First Majestic Silver Corp. FR INITIATING COVERAGE - Darling of the Mid-Tier Silver Space - Buy for Growth Buy C$20.25 C$16.72
03.03.2011 PDF Consolidated Thompson Iron Mines Limited CLM Shareholders Vote in Favour of Cliffs Offer Tender to Offer C$17.25 C$17.15
03.03.2011 PDF Xinergy Ltd. XRG Expands Thermal Coal Resource Base with Addition of Brier Creek Buy C$8.00 C$7.50
03.03.2011 PDF Labrador Iron Mines Holdings Limited LIM The Newest Iron Ore Producer Speculative Buy C$18.00 C$12.00
03.03.2011 PDF THE OIL & GAS WATCHLIST THE OIL * GAS WATCHLIST - March 3, 2011 N/A N/A N/A
03.02.2011 PDF ROCK TALK ROCK TALK - March 2, 2011 N/A N/A N/A
03.02.2011 PDF Equity Financial Holdings Inc. EQI Financing Complete and Q4/10 Results Buy C$14.00 C$8,25
03.02.2011 PDF Minefinders Corporation Ltd. MFL Revising Recommendation Upward Dolores Back on Track; Renewed Focus on Exploration to Fuel Future Growth Buy C$16.00 C$11.15
02.25.2011 PDF Gran Tierra Energy Inc. GTE Further Q4/10 Commentary / Information Buy C$10.50 C$8.78
02.25.2011 PDF Xinergy Ltd. XRG Q4/10 Results Buy C$7.50 C$5.58
02.24.2011 PDF Canacol Energy Ltd. CNE Revising Rancho Hermoso Assumptions Buy C$2.00 C$1.61
02.24.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - February 24, 2011 N/A N/A N/A
02.23.2011 PDF ROCK TALK ROCK TALK - February 23, 2011 N/A N/A N/A
02.23.2011 PDF Calvalley Petroleum Inc. CVI.A Solid Reserves Growth and Outstanding F&D Costs in 2010 Speculative Buy C$8.25 C$3.95
02.22.2011 PDF Winstar Resources Ltd. WIX SIL-1 Well Tests Gas, Oil and Condensate Speculative Buy C$6.25 C$4.31
02.22.2011 PDF Equal Energy Ltd. EQU Debenture Financing, 2011 Production Guidance and 2012 Estimates Buy C$8.75 C$6.80
02.18.2011 PDF Centamin Egypt Ltd. CEE Reducing Target, but Maintaining BUY Buy C$3.00 C$2.03
02.18.2011 PDF Equitable Group Inc. ETC Q4/10 Preview Buy C$40.00 C$29.15
02.17.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - February 17, 2011 N/A N/A N/A
02.17.2011 PDF Wild Stream Exploration Inc. WSX Wild Stream Announces $76 Million Financing and Capital Program Expansion Buy C$12.50 C$11.09
02.16.2011 PDF ROCK TALK ROCK TALK - February 16, 2011 N/A N/A N/A
02.16.2011 PDF Sandspring Resources Ltd. SSP Initiating Coverage - Leading the Charge in Resurrecting Guyana’s Mineral Potential Speculative Buy C$5.50 C$2.68
02.16.2011 PDF Guyana Goldfields Inc. GUY Initiating Coverage - Leading the Charge in Resurrecting Guyana’s Mineral Potential Speculative Buy $16.00 $8.54
02.15.2011 PDF Renegade Petroleum Ltd. RPL Renegade Provides Operational Update Buy C$6.00 C$4.70
02.15.2011 PDF African Aura Mining Inc. AUR Initiating Coverage - Two-for-One Sale Now On! Speculative Buy C$9.00 C$4.70
02.15.2011 PDF Orbit Garant Drilling Inc. OGD Q2/11 Results Buy C$8.50 C$6.00
02.15.2011 PDF Aeroquest International Limited AQL Q1/11 Results Buy C$2.00 C$0.94
02.14.2011 PDF Home Capital Group Inc. HCG Q4/10 Results Buy C$65.00 C$56.50
02.11.2011 PDF MagIndustries Corp. MAA Discontinuing Coverage N/A N/A N/A
02.11.2011 PDF Hanfeng Evergreen Inc. HF Q2/11 Results Miss; Reducing Target Hold C$5.00 C$4.90
02.10.2011 PDF Migao Corporation MGO Q3/11 Results Buy C$12.00 C$8.57
02.10.2011 PDF THE OIL & GAS WATCHLIST THE OIL & GAS WATCHLIST - February 10, 2011 N/A N/A N/A
02.09.2011 PDF ROCK TALK ROCK TALK - February 9, 2011 N/A N/A N/A
02.08.2011 PDF Neo Material Technologies Inc. NEM Introducing 2012 Estimates; Raising Target Buy C$11.00 C$8.80
02.07.2011 PDF *OIL AND GAS SECTOR
Midway Energy Ltd.
Novus Energy Inc.
Renegade Petroleum Ltd.
WestFire Energy Ltd.
Wild Stream Exploration Inc.

MEL
NVS
RPL
WFE
WSX
What are Oil Futures Discounting for our Small Cap Light Oil Names? N/A N/A N/A
02.07.2011 PDF Quetzal Energy Ltd. QEI Off Restriction Update Speculative Buy C$0.30 C$0.135
02.07.2011 PDF Yellowhead Mining Inc. YMI Initiating Coverage Speculative Buy C$2.50 C$1.40