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GNCE SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-68316.pdf
ORDER:
http://www.sec.gov/litigation/suspensions/2012/34-68316-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2012/34-68315.pdf
I agree...holding on
no. I am holding all. It will go someday and hard IMO
have you given up on GNCE?
no idea. do not think it is right.
why does GNCE show a dividend in Aug06?----
http://www.profitspi.com/stock-quote/gnce.aspx
just a knobias description...
http://www.investorshub.com/boARDS/read_msg.asp?message_id=11140626
life - where did you see that GNCE currently has tar sands properties.
In their last 10q (qtr ending 9/30/03) it says...
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATION
Oil and Gas Operations - There were no oil and gas sales for the three-
month period ended September 30, 2003, as all of the oil and gas properties
have been sold to apply to debt.
http://money.cnn.com/quote/sec/sec.html?symb=GNCE&sid=20542&guid=3288326
not trying to rain on your parade, just trying to find some good buys...GLTY...RU
RE: Oil/Tar Sands set to explode....GNCE per knobias is involved with UTAH tar sands
Posted by: Gateway_Stocks
In reply to: None Date:6/5/2006 8:35:56 PM
Post #of 1619
Oil Sands Set to Explode
By Robert Aronen
June 5, 2006
Rising energy prices are driving oil sands production to new heights. Last week, Canada's National Energy Board (NEB) released a report giving an update on the opportunities and challenges facing Canada's oil sands between now and 2015. (Link opens a PDF.) A follow-up to a 2004 report, the document takes into account current market conditions, such as the doubling of the price of crude oil and natural gas since the original report came out. We've given our own report on Canada's oil sands, but now let's take a revised look, based on the new NEB report.
Oil sands production
Capital expenditures to fund oil sands development have exploded in the past two years. Current investment totals $106 billion ($125 billion Canadian) to develop projects that will be completed between 2006 and 2015. If all of these projects are completed, oil sands production in 2015 will total a high estimate of 4.4 million bpd (barrels per day), up from 1.1 million bpd in 2005. Assuming that even 75% of the high estimate is achieved, production will increase to 3 million bpd.
That much expansion will place Canada among the world's top oil producers and exporters. As things stood in 2004, Canada ranked eighth among world oil producers and didn't even make the list of the top 14 exporting countries. This was back when it produced just in excess of 3.1 million bpd, with 1 million bpd coming from the oil sands. Assuming that conventional production remains near 2 million bpd, Canada will be producing 5 million bpd in 2015 -- enough to place Canada fourth in global oil production.
These estimates assume that Iran is unable to increase production by more than 1 million bpd, but I consider this assumption reasonable, since Iran is having difficulties meeting its OPEC quota, and its government has created an environment inhospitable to the type of foreign investment needed to boost production.
In exports, oil sands production will have a much more significant impact for Canada. In 2004, Canada's oil consumption was 2.3 million bpd, resulting in net exports of only 800,000 bpd. I estimate that Canada will consume around 2.7 million bpd in 2015, assuming annual growth of 1.6%. With 5 million bpd of production, net exports will total 2.3 million bpd. Returning to our table of Top World Net Exporters, we thereby find that Canada will move into the top 10 exporting countries by 2015. If oil sands production meets the high estimate, Canada could move as high as third place among exporters, behind only Russia and Saudi Arabia.
Producers
It should be no surprise that the major oil sands producers have announced the largest expansion projects:
Company
Total Production (bpd)
Year Complete
Suncor (NYSE: SU)
500,000 to 550,000
2010 to 2012
EnCana (NYSE: ECA)
500,000
2016
Canadian Natural Resources Limited (NYSE: CNQ)
800,000
Not announced
Other large projects have been announced at Imperial Oil, Shell Canada, Petro-Canada (in partnership with UTS Energy and Teck Cominco), Husky Energy, and a whole host of other companies, including Shell EP Americas, which recently shocked the oil sands by purchasing 10 properties in northern Alberta.
The future direction of oil prices and production costs will dictate the profitability for these producers. The NEB report estimates profitability at an oil price of $30 to $35 per barrel of West Texas Intermediate (WTI) light sweet crude oil. These prices are up significantly from the 2004 report, mostly because of higher capital costs and higher natural gas prices. So the global commodity boom that has increased oil prices has also increased the cost of expanding oil sands production.
Production methods
There are two methods of converting oil sands into liquid that can be refined into gasoline and other petroleum products -- mining operations and in situ, or "in place," recovery. Both methods will grow through 2015, with in situ production showing the larger increase.
The NEB report estimates that mining operations will account for 52% of total production in 2015. Expansions at Canadian Natural Resources, Imperial Oil, and Petro-Canada all include new mining operations. This prospect for new installations has been partly responsible for creating joy for shareholders of Joy Global (Nasdaq: JOYG) and Bucyrus. Mining operations work where the oil sands deposits are close to the surface and have a lower natural gas requirement than do in situ methods. On the downside, environmental groups question the effectiveness of land restoration after mining operations have taken place, and in situ methods allow access to deeper deposits.
The most common in situ production method is Steam Assisted Gravity Drainage, or SAGD. The advantages are that only the bitumen is removed from the ground, and deeper formations can be exploited. But the downside is that SAGD production requires more natural gas. Because it uses traditional drilling methods, growth in SAGD production should create new business for drilling companies. However, this production is so small compared with global oil production that any incremental business is unlikely to have a serious impact on the major players.
New in situ production methods are also being investigated. Petrobank is building a pilot project to demonstrate its toe-to-heel air injection (THAI) technology. Other companies are experimenting with the vapor extraction process, or vapex, which is similar to the SAGD process, but hydrocarbon solvents are injected instead of steam.
Challenges
Environmental concerns pose the greatest challenge to oil sands production growth. Greenhouse gas emissions, land reclamation, and water usage are the most common issues. The combination of issues has led various environmental groups to call for a moratorium on oil sands development and created bureaucratic obstacles to new projects.
These are serious concerns. Oil sands production emits higher greenhouse gas emissions than conventional oil production does. To meet the requirements of the Kyoto Protocol, Canada will need to invest in clean energy to obtain credits to offset the increase in carbon dioxide, or else capture and sequester the carbon dioxide. In part to balance its oil sands production, Suncor has become one of the largest wind power producers in Canada.
Mining operations remove the surface of Canada's boreal forest to expose the oil sands below. While these lands are to be reclaimed after oil sands production is complete, the resulting landscape will be significantly different, with fewer wetlands, more lakes, and no peat lands. Local groups question the impact on the local ecosystem and the effectiveness of reclamation efforts.
Water usage poses both environmental and technical challenges. Mining and in situ operations require huge volumes of water, which is diverted from the Athabasca River. Current licensing approves the withdrawal of 2.3 billion barrels of fresh water per year from the river, but the planned projects will push the requirement to 3.3 billion barrels per year. The environmental concern here is that insufficient flows exist to ensure the river's ecological sustainability. The technical challenge is that the river flow rates are lower in the winter, a reality that could lead to seasonal shortages. It is likely that oil sands producers will need to implement efforts to reduce water usage, increase recycling, and implement on-site storage to avoid seasonal production losses.
Conclusions
There is little doubt that the Canadian oil sands are booming. If the current projects proceed to completion, Canada will be one of the world's leading producers and exporters of petroleum products.
With more than $100 billion in investment planned for the next decade, there should be plenty of profits available for investors. Unfortunately for investors, the opportunity is widely known, and finding discounts is tough. I still prefer investing in the infrastructure -- the picks and shovels. The companies providing these implements benefit from oil sands development and the global oil and commodities boom. Joy Global has dropped quite a bit recently and might begin to entice some investors at current prices. Alternatively, a good portion of that $106 billion in new construction will be paid to engineering contractors such as CB&I (NYSE: CBI) and Jacobs Engineering.
Investments in the oil sands are not without risk. As mentioned, a global collapse in oil prices will hurt the oil sands more than it will conventional oil producers because of the higher production cost of oil sands. To date, Canada has managed the environmental concerns to allow development to continue, and with oil above $70 a barrel, I expect this trend to continue. However, environmental concerns could derail specific projects, accelerate a switch away from mining operations, or cause production costs to increase. Finally, because this opportunity is very well known, you should take care to avoid the growth trap and avoid overpaying for oil sands investments.
For recent oil and gas news/plays bookmark and visit us daily at The Oil and Gas Pipeline on IHub:
http://www.investorshub.com/boards/board.asp?board_id=5320
Gateway_Stocks
This thing would SOAR with any volume. Trading down here with this tiny of float is ridiculous IMO
GNCE at the top of the list...
:: BIGGEST PRICE GAINERS FOR STOCKS $0.05 to $1 (inclusive) (ALL PINK SHEETS QUOTED STOCKS)
(Note: this data is as of previous business day)
Symbol Company Price Net Chg Pct Chg Share Volume
GNCE GNC ENERGY CORP 0.0600 +0.0520 +650.00 115,000
VITC VERSATECH INC 0.0600 +0.0500 +500.00 15,000
ARAA AVRADA INC 0.1000 +0.0700 +233.33 1,269
EVSD ENDOVASC INC SER NDC 0.0650 +0.0400 +160.00 1,150
SGGL SAGE GLOBAL SOLUTIONS INC 0.5100 +0.3100 +155.00 2,000
SPLJ SPECIAL PROJECTS GRP LTD 0.1500 +0.0700 +87.50 1,120
CAPP CASPIAN ENERGY INTL INC 0.0900 +0.0400 +80.00 66,200
MDBF MIDLAND BARING FINCL GRP 0.7500 +0.3000 +66.67 1,000
ADLU ADVANCED LUMITECH INC 0.1000 +0.0400 +66.67 20,366
TRSI TROPHY RESOURCES INC 0.0720 +0.0270 +60.00 333,001
LPPI LEEP INC 0.0750 +0.0240 +47.06 89,800
UTRX UNITRONIX CORP 0.1600 +0.0500 +45.45 2,000
WWSI WORLDWIDE STRATEGIES INC 0.5000 +0.1500 +42.86 7,800
SOGD SOOOO GOOD INTL LTD 0.0700 +0.0200 +40.00 15,000
OSSG ONLINE SALES STRATEGIES 0.0700 +0.0200 +40.00 20,000
LROD LIGHTNING ROD SFTWARE INC 0.5500 +0.1500 +37.50 1,400
AMJL AMIGULA INC 0.0550 +0.0150 +37.50 2,500
LPHM LEE PHARMACEUTICALS 0.0800 +0.0200 +33.33 200
CLTY CELERITY SOLUTIONS INC 0.2000 +0.0500 +33.33 8,332
EXTI EXTREME INNOVATIONS INC 0.0800 +0.0200 +33.33 121,500
ITGI INTEGRATED TECH GROUP INC 0.8600 +0.2100 +32.31 81,300
IMMD IMMUDYNE INC 0.2500 +0.0600 +31.58 1,000
CGPA COLLEGE PARTNERSHIP INC 0.1300 +0.0300 +30.00 242,787
I wonder what extraction technology GNCE developed...do we see dollars a few months from now? lol
This stock sounds good. Low float only 5m. Highest daily volume 27k. average 50day vol is only 2k. With some interest and volume this could move easily. Had gotten a little over 200k volume once in 2001 and was trading at .10.
Alberta's tar sands development may offer lessons for western U.S.
(Originally published 08/18/2005)
Mary O'Driscoll, senior reporter
U.S. officials, the petroleum industry and environmentalists are studying Alberta's tar sands development for ideas on how to exploit oil sands and oil shale resources that some say could turn Utah, Wyoming and Colorado into the nation's oil production center.
Tapping tar sands on the periphery of the Uinta Basin east of Salt Lake City would yield 12 million to 16 million barrels of low-sulfur oil, said James Bunger, acting energy director for the Utah governor's economic development office.
And oil shale deposits found in a 16,000 square-mile region bounded by Utah's Uinta Basin, Wyoming's Green River Basin and Colorado's Piceance Basin could hold 1 trillion to 2 trillion barrels of oil, depending on the grade of shale being produced, Bunger added.
Utah's senior senator, Republican Orrin Hatch, hopes to spark industry interest in risking expensive ventures to draw oil from Western sand and shale with provisions he added to the Energy Policy Act of 2005, which President Bush signed into law earlier this month. Bunger said the law's industry incentives are having the effect Hatch intended.
"It's made them sit up and take notice," Bunger said in an interview. "The words I've heard from industry are that it appears as though government is genuinely interested in oil sands and shale. And if government is, then we should be. It's had that effect."
Tax breaks and an environmental study
Energy bill provisions require the Interior Department to complete a programmatic environmental impact statement by February 2007 for a commercial leasing program for oil shale and tar sands resources on public land.
The law also includes tax incentives granting speedy depreciation of equipment for producing oil shale and tar sands and cost-sharing provisions for government and industry patterned after those that Alberta's provincial government provided for its oil sands producers in the early years of development there.
Hatch said he added tar sands and shale provisions to the legislation because "it just bugged him" that a quarter of the oil used in Utah, an oil-producing state, is imported from Canadian tar sands, said J.J. Brown, a Hatch aide who recently toured Alberta with other Capitol Hill staffers and Energy Department officials.
"The reality is that between the U.S. and Canada, we truly are the energy future of the world," Brown said. "We will be the go-to guys."
Bunger said it is unclear what type of extraction technology -- strip mining or drilling -- would be used to get to the oil in Western tar sands. Given the Alberta experience, resources closer to the surface would probably be mined, which is less expensive than the in situ drilling, which involves injecting steam to loosen the bitumen from sand, then pumping the bitumen to processing facilities.
Oil shale, which would also either be mined or drilled in situ, would require processes to fracture and heat the fine-grained rock to release gases and oils out of the keragen. Keragen is the shale equivalent of bitumen in the tar sands.
Shell Exploration and Production Co. has been experimenting with electricity to heat the rock up to 700 degrees at a site west of Denver. A heating element is lowered into the well to slowly convert the keragen into oils and gases, which are pumped to the surface. The company says it intends to make a decision about commercial development efforts by about 2010 ( E&E Daily, June 24).
Enviros see trouble ahead
Environmentalists are already raising red flags about oil shales. Steve Smith, assistant regional director for The Wilderness Society's Four Corners States office, told the Senate Energy and Natural Resources Committee that Alberta's experience should be a cautionary tale for the United States. For one thing, tar sands development in Alberta consumes so much natural gas that it might deprive the United States of supplies it needs, he said.
"Tar sands development in Canada could not occur without the use of large quantities of natural gas -- potentially much of the entire production to be carried by the new pipeline from the MacKenzie Delta," Smith said at an April 12 hearing. "Tar sands development in Canada is one of the principal reasons natural gas exports to the United States will not increase and may even decline over the next 10 years."
Smith also raised air quality, water use and quality, and economic considerations for oil shale development in a region. Tar sand development consumes large amounts of water, he said. Large consumption of water by the industry would post major problems in the West, where booming cities depend on the Colorado River for drinking water as well as tourism and recreation destination.
"I raise just a few of the many questions that must be asked," Smith said. "Is any water available for a new energy industry in drought years? If so, would the withdrawals for oil shale result in a reduction of flows -- or even a loss of flows -- in the critical reach just upstream of Grand Junction? If so in turn, what endangered species issues are implicated? If any water is available in drought years, how would oil shale development affect the total amount of water remaining for Colorado's use under the Law of the River?"
GNCE -GNC Energy 5M O/S .008x.015 Oil-Sands-in-UTAH-leases-plus new extraction technology
Per Knobias...GNC Energy Corporation explores for and produces oil and gas. The Company has been engaged in various segments of the energy industry. The company developed a crude oil recovery method for use on its tar sand leases in Utah.
Tar Sands = Oil Sands in Canada
http://www.profitspi.com/stock-chart-str.aspx?id=GNCE&ca=1496752961
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