Corporate Vision May 2017

CORPORATE VISION / May 2017 43 Uncovering Hidden Value Company: Turnstone Strategy Inc. Name: Duncan Robertson Email: [email protected] Web Address: www.turnstonestrategy.com Address: 2102, 505 - 6th St. SW Calgary, Alberta, Canada Telephone: +1 (403) 205-3255 g With more than 80 years of industry experience combined, Dawson and Robertson have advised more than 100 North American clients over the past 18 years, including energy producers and service companies, as well as investors and corporate consumers of natural gas and refined crude products. Turnstone Strategy has a long- proven track record. For example, in the first quarter of 2008, based on its analysis, Turnstone was advising clients that crude oil prices would crash to as low as $40 per barrel when some analysts were calling for oil prices to increase to $200 per barrel. At that time, an oil and gas producer could have hedged its production to ensure a $110 floor price for the next 4-5 years. NYMEX crude prices have never been that high since. By the third quarter of 2008 oil prices were falling fast towards $40. Similarly, from 2009 to 2012, Turnstone advised in 13 public presentations not to buy natural gas in North America but to sell, to hedge production, and to raise money as a natural gas producer. June 2012 futures price fell from a high of about $6.80 to $2.60 during that time. “Our job is to ensure that our clients are out in front of the market shifts in time to make their best investment decisions. We are seeing a number of political, economic and social factors that are impacting the energy industry world-wide. We need to be able to strip away the news headlines and focus on fundamentally what is really going to influence future prices,” says Dawson.