The Globe and Mail reports in its Saturday edition that Adam Waterous believes that there has never been a better time to be exploring for oil and gas. The Globe's Andrew Willis writes that the global head of investment banking at Bank of Nova Scotia plans to leave the bank next month to launch a Calgary-based $400-million private-equity fund that will invest in up-and-coming North American oil and gas plays. "There are enormous opportunities in unconventional oil and gas," Mr. Waterous said. "Look past the headlines on carbon tax and low commodity prices, and you find new technology has transformed the energy industry and rates of return on drilling are now at 100-year highs." The new venture, which is called the Waterous Energy Fund, will focus on majority investments in private junior oil and gas companies and start-ups that use the latest extraction technology, such as combining horizontal drilling and what is known as multistage fracturing. In a report this week, RBC Dominion Securities energy analysts said, "In our view, the application of unconventional technology in conventional reservoirs is the next theme to watch as Canadian oil producers shift to growth in 2017."