Taxes Taxes And More Taxes

At first I thought this was funny....Then I realized the awful truth of it.

Be sure to read all the way to the end!

Tax his land,
Tax his bed,
Tax the table
At which he's fed.

Tax his work,
Tax his pay,
He works for peanuts
Anyway!

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his car,
Tax his gas,
Find other ways
To tax his ass.

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.

When he's gone,
Do not relax,
It's time to apply
The inheritance tax.

Accounts Receivable Tax
Airline surcharge tax
Airline Fuel Tax
Airport Maintenance Tax
Building Permit Tax
Cigarette Tax
Corporate Income Tax
Death Tax
Dog License Tax
Driving Permit Tax
Environmental Tax (Fee)
Excise Taxes
Federal Income Tax
Federal Unemployment (UI)
Fishing License Tax
Food License Tax
Gasoline Tax (too much per litre)
Gross Receipts Tax
Health Tax
Hunting License Tax
Hydro Tax
Inheritance Tax
Interest Tax
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Mortgage Tax
Personal Income Tax
Property Tax
Poverty Tax
Prescription Drug Tax
Provincial Income and sales tax
Real Estate Tax
Recreational Vehicle Tax
Retail Sales Tax
Service Charge Tax
School Tax
Telephone Federal Tax
Telephone Federal, Provincial and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Water Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
--- and in 2010 the HST

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago, & our nation was one of the most prosperous in the world. We had absolutely no national debt, had a large middle class, and Mom stayed home to raise the kids.

What in "Hell" happened? Can you spell 'politicians?'

Pescod Talks about...

ENTERRA ENERGY

(T-ENT.UN)

$2.94 -0.01

BELLATRIX EXPL.

(T-BXE)

$3.79 -0.05

STERLING RESOURCES

(V-SLG)

$1.94 -0.06

We love asking the question to some of our favourite ana-

lysts, market commentators and the like, “If you could buy

only one stock today, what would it be?”

Well needless to say, commodity prices change on a daily

basis, companies discover new assets (or lose new assets),

countries change the rules and you name it. It’s an ongoing

flux of parameters to decide what your favourite pick might

be.

It gets a little easier though when you ask a person what

your top three might be and one of the hottest stock pickers

in the oil and gas sector over the last while, has been Kevin

Shaw of Wellington West. Shaw has been the one who first

came up with the importance of the Cardium plays in Al-

berta. It seems every time he mentions something, you had

to own...you had to own it.

For those who were brave enough a year ago, and

stepped into the market in the natural resource sector, you

have been amply rewarded...Now though, things are little

closer to whatever normal is. So it’s going to be much

tougher to get some of the returns that those brave folks

achieved a year ago.

It’s over to Kevin Shaw, as we ask him to bring us up-to-

date on what his three favourite picks are:

“In the domestic space ENTERRA Energy (soon to be

rebranded as “Equal Energy” upon conversion to a corpora-

tion) is an extremely cheap emerging midcap (i.e. ~10,000

boepd) with 55% oil + liquids weighting, a new team at the

helm, and 500+ development locations (95% horizontal)

across multiple resource plays….they are currently focusing

on their oil plays.

Near-term catalysts are focused on “Cardium” & early

stage emerging “Circus Viola” oil play. Currently testing 1st

Circus hztl & drilling 2nd hztl. Two Cardium hztls to spud in

late March; 79 hztls on these two oil plays alone.

Hztl tests to kick-off at Dina PPP oil pool. ENT plans to

drill two horizontal wells in light ~26 mmbbl OOIP PPP pool

post 2010 break-up; sets up potential 16+ well develop. @

~70% WI.

Reactivating liquids-rich Hunton resource play a focus in

2010. From a “Bluesky” perspective, ENT could quadruple

booked 2P reserves based on full development of

300+ hztl locations at Hunton; Up to 12-well program ex-

pected to start in Q2/10.”

BELLATRIX and STERLING are also still great buys for

both the short-term & long-term (i.e. great value plays)…but

you guys know the story on these ones already.

CGX ENERGY

TAG OIL

We’ve mentioned over the last couple of days, some of

the high risk/high reward plays that Josef Schachter has

on his radar screen as far as companies that should they

hit on one of the high impact plays, could see their stock

trade dramatically higher...if they do hit.

On our own list of high risk/high reward plays or our

high impact list, there are two that Schachter doesn’t fol-

low.

CGX Energy is one that we’ve been following ever since

a border dispute between Suriname and Guyana exploded.

Those problems have now been resolved and later this

year, little CGX Energy will be drilling the first of many

targets. The suggestion by many is that they have 11 tar-

gets bigger than 100 million barrels with two that could

close in on a billion barrels. Sometime soon, little CGX

has to get a financing done which means they will be up to

200 million shares outstanding, which means sooner or

later, they better hit on one of the big guys.

Our second nominee is Tag Oil, for the simple reason

Clive Stockdale was the guy who came up with Ultra Pe-

troleum, a story which became a 100-bagger. If he thinks

Tag Oil is going to be one of the exploration plays of the

year—so do we! President Kerry Sully is on an IR trip to

Europe that last few days and it looks like it is attracting

investor interest.

PANWESTERN ENERGY

(V-PW)

More and more people are finding a good formula in the

oil and gas patch is to find an experienced oil team and

simply follow it. Sometimes they will go through a couple

of companies in a career, but there’s an awful lot of people

following Abby Badwi as he has put together with Doug

Urch, one heck of a team at Bankers Petroleum.

It’s become a huge success and before that, they had

another success with heavy oil in Egypt. The question is,

is Abby going to retire some day and count his money? Or,

is he going to stay in a business that he’s becoming so

successful at?

The suggestion by some is that sometime in the next

year, Bankers gets sold and Abby’s going somewhere else.

So it was interesting to see the pop in PanWestern Energy in

the last couple of days when it was announced that Abby

had joined their board.

When we finally get a hold of Abby, he e-mails us this

answer as to what his plans are. He simply responds:

“PanWestern is the new vehicle of a proven management

team led by Jim McFarland of Verenex. They will be going

international. Put it on your radar screen.”