Investments

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 June 30, 2011.

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APIC Petroleum Corporation (API:TSXV)
4,250,000 common shares

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Brownstone Energy Inc. (BWN:TSXV)
11,722,720 common shares
1,369,110 warrants expire Apr 13, 2012
337,500 warrants expire Sep 11, 2012

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Canadian Spirit Resources Inc. (SPI: TSXV)
3,000,000 common shares

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Donnybrook Energy Inc. (formerly Coastport Capital Inc.) (DEI:TSXV)
12,000,000 common shares

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Primary Petroleum Corp. (PIE:TSX)
15,000,000 common shares

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Shoal Point Energy Ltd. (SHP:CNSX)
8,650,500 common shares
250,000 warrants expire Sep 3, 2012
250,000 warrants expire Oct 25, 2012
1,000,000 warrants expire Apr 29, 2013

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Talon Metals Corp. (TLO:TSX)
4,300,000 common shares
205,000 warrants expire Oct 29, 2012

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Vanoil Energy Ltd. (VEL:TSXV)
2,400,000 common shares

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Vulcan Minerals Inc. (VUL:TSXV)
4,882,500 common shares
500,000 warrants expire Nov 3, 2011
100,000 warrants expire Nov 26, 2011