Strong reserves. Likely buy-out target someday. In the meantime will keep chugging along at a little better than the market with a little less risk, although still garnering decent option premiums to write covered calls against. Actual Purchase Price 39.5. Took some profits via covered calls, could lose half of position 60 Nov. 4% of overall portfolio (see emerging growth & turn around portfolio). Buy under 50

Nat gas leader. Should spike on some event(s) and growing clarity that cheap nat gas is in shortening supply just as cheap oil is. Must maintain margins, but is in a better position to do so than most in nat gas. APP=29.5. 4% of portfolio. Buy under 40

Diversified energy and refining. Can't get much bigger and it's assets appear woefully undervalued. Buffett bought a big hunk. Would expect others to continue following suit as pps drifts up. APP=57.5. Took some profits via covered calls, could lose half of position 90 Nov. 8% of portfolio. Buy under 75

Victim of Americentric investors. Company trades at huge discount to intrinsic value. Profitable company in growing field. Kicker is that American online gambling will likely become regulated and legal in the next few years, which will offer another catalyst for this company. APP=17. Took some profits via covered calls 30 July, expired. 6% of portfolio. Buy under 30

Huge cash hoard will eventually be used to propel growth or paid back to shareholders. Wimax play. CEO can dislike Icahn all he wants, but company either had better see rising pps or Icahn will continue to push in what seems like an ideal spot for him to do so. Expect product cycle to turn positive between late 2007 or by late summer 2008, which is being too heavily discounted. APP=18. 4% of porfolio. Buy under 25

Company set to emerge as ready partner in IP, as well as, capture more wireless on its own. Merger efficiencies beginning to emerge. Wimax play. Business is stablizing and Nextel is beginning to be better integrated in 2007. Company has several strategic alternatives which should stimulate pps growth to 30s. APP=17.5. Took some profits via covered calls, full amount 25 Nov. 4% of portfolio. Buy under 25

New product enhancements, including search, news feed agreements, entertainment, music will add up to Amazonian year soon for this company with a great balance sheet. APP=27 4% of portfolio Buy under 40

Solid ROE & sustainable growth. APP=87. 4% of portfolio. Buy under 100