Energy Prospectus

In a stunning policy reversal Germany revealed that they will shut down all 17 of their nuclear reactors. Renewable energy sources - solar and wind - will benefit. But the largest beneficiary will likely be European natural gas producers and global coal companies. FXEN is especially well situated.

The impact of the policy reversal is discussed today:

http://www.lsgifund.com/index_files/Page960.htm

FXEN is one of our largest holdings. GEOI is also a major holding, they were upgraded today by Global Hunter to accumulate. Both great companies with good management and growth opportunties that are not priced in.

This week we also discussed several firms that remain on our quantitative screens: Titan Machinery (TITN) (ag equipment retailer), Kemet Corp. (KEM) (capacitor manufacturer), and Materion (MTRN) (specialty materials for electronics).

Pritchard Morning Intelligence

FXEN ($8.45-B-$13) – Exposed to improving Poland gas macro

Germany likely to seek additional gas imports as nukes shut down Warsaw South and a peer's horizontal well seen as catalysts by July/August timeframe

FXEN – Improving Poland Gas Outlook –

Germany likely to seek additional gas imports as nukes shut down by 2022, which will likely cause Polish gas regulator to raise prices. While in our numbers, tie-ins of two KSK wells should cause production to soar nearly 60% in next two weeks. Drilling at Warsaw South and Plawce prospects remains on track with potentially meaningful results likely by September. (Ray Deacon)