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Investments
| Disclosure Criteria |
| Valuation Policy |
| Investees By Sector |
| Precious Metals |
| Oil & Gas |
| Coal |
| Uranium |
| Base Metals |
| Potash, Lithium and Rare Earths |
| Technology and Other |
| Investees by Name |
| Past Investments |
Oil & Gas
Not all investees are displayed - click on Disclosure Criteria link for explanation
Click here to read Pinetree's Disclosure Criteria
Pinetree is a long time investor in the oil and gas market, having started investing in this sector in early 2003 when oil was trading at $30/barrel. Pinetree believes oil prices will continue to remain elevated (over $50/barrel) into the future, driven by supply and demand issues. Elevated oil prices allow high risk, high cost discoveries to become economic. Our oil and gas investment focus is on the junior exploration companies operating in and around the Alberta Oil Sands and international oil companies. International oil companies are also attractive to Pinetree because unlike in Alberta and other oil developed nations, international oil companies are able to accumulate significant land packages which are still available and have the potential for significant discovery.
Sector Themes
- Better than expected recovery in Chinese demand
- Declinding non-OPEC supply and OPEC storage capacity
- Shrinking reserves per well and average productivity
- Rising marginal cost
Oil & Gas investments as at March 31, 2012.
Please see our disclosure criteria regarding the investments that are displayed below.
| Cost | Total fair value | % of total fair value |
| 73,923 | 43,125 | 10.1 |
| Issuer | Security Description | Cost | Fair Value |
% of Sector (FV) |
|---|---|---|---|---|
|
Apic Petroleum Corporation API:TSXV |
5,750,000 common shares |
2,295 | 1,044 | 2.7 |
|
Azabache Energy Inc. AZA:TSXV |
3,150,000 common shares |
2,821 | 2,426 | 6.2 |
|
Brownstone Energy Inc. BWN:TSXV |
12,740,220 common shares 337,500 warrants expire Sep 11, 2012 1,369,110 warrants expire Apr 13, 2014 |
10,102 | 4,268 | 10.9 |
|
Canadian Spirit Resources Inc. SPI: TSXV |
3,000,000 common shares |
3,157 | 1,560 | 4 |
|
Donnybrook Energy Inc. DEI:TSXV |
14,000,000 common shares |
5,225 | 2,380 | 6.1 |
|
Primary Petroleum Corp. PIE:TSX |
16,848,000 common shares |
5,368 | 8,424 | 21.4 |
|
Shoal Point Energy Ltd. SHP:CNSX |
11,000,000 common shares 250,000 warrants expire Sep 3, 2012 250,000 warrants expire Oct 25, 2012 1,000,000 warrants expire Apr 24, 2013 1,000,000 warrants expire Apr 29, 2013 500,000 warrants expire Aug 21, 2013 |
2,828 | 2,842 | 7.2 |
|
Simba Energy Inc. SMB:TSXV |
10,000,000 common shares 5,000,000 warrants expire Jan 20, 2012 |
899 | 1,100 | 2.8 |
|
Talon Metals Corp. TLO:TSX |
5,250,000 common shares 205,000 warrants expire Oct 29, 2012 |
4,276 | 2,126 | 5.4 |
|
Vanoil Energy Ltd. VEL:TSXV |
4,150,000 common shares 500,000 warrants expire Oct 6, 2013 |
2,023 | 2,884 | 7.3 |
