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Littlefish, where do you see MXC going this time?
Oil is hot! very nice gain on very low volume.
Let's go Mexco!
LOL. For old time's sake. Nice rally last couple days.
Nobody is keeping current here. Ambassador TG Jr. is going to make a huge difference.
Thomas Graham, Jr. - Chairman of the Board of Directors
Ambassador Graham that is... sits on the board of Thorium Power and Canalaska Ventures, too...
What are their reserves? And why the sudden crash in a bull market for energy? I ahven't even glanced other than yahoo profile.
Looks like a scam, doesn't it?
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
OM- GEEZ NCEY is a BIG monster LOL. Wow, what was it around when you mentioned it to me here? Maybe 7 cents or so? Wow. 2 10baggers for us in months. Me with MXC and you with NCEY.
I'm looking into beaten down sectors/stuff now and have found IMO a decent candidate for 1-2 year timeframe appreciation.
I'm not telling anyone what it is until I get a bigger position though:) Besides, 99% of the people out there wouldn't be patient enough to wait for a turnaround on it probably. I may just stay quiet and keep this one to myself for awhile.
Man, nice call on NCEY!
I've been looking around for another "Mexco" and I think I've found two that may play out the same.
AMEX: CHQ and SNG
Challenger Energy Corp. Announces Logging of Zone of Interest in "Bounty" Well Offshore Trinidad
Thursday June 26, 9:10 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 26, 2008 -- Challenger Energy Corp. ("Challenger") (CDNX:CHQ.V - News)(AMEX:CHQ - News), along with its partners Canadian Superior Energy Inc. ("Canadian Superior") (Toronto:SNG.TO - News)(AMEX:SNG - News), and BG International Limited ("BG"), a wholly owned subsidiary of the BG Group plc (LSE:BGL.L - News), announced today that they are in the process of wireline logging the "Bounty" well on Block 5(c) offshore Trinidad at an interim total depth based on a zone of interest indicated by logging-while-drilling data and mud logs. Wireline logging operations are underway, and initial wireline logging results have shown approximately 200 feet of pay in a well developed sand interval that the logs indicate is hydrocarbon bearing. Following the completion of current wireline logging activities, drilling is expected to resume targeting further objectives in the well, with flow testing of the zone logged to date planned once the well reaches total depth. Logs received to date indicate very encouraging hydrocarbons in the drilled section of the well, prior to Challenger's projected TD of approximately 18,000 feet subsea.
The "Bounty" well was spudded on February 20, 2008 on a separate prospect from the "Victory" natural gas and condensate discovery announced on January 14, 2008, and is located approximately 2.2 miles from the "Victory" well. The "Bounty" well is being drilled by the KanTan IV semi-submersible rig as the second well in a three-well program. The "Endeavour" well is expected to be spudded in August as the third well in the program.
Challenger Energy Corp. is a Calgary, Alberta, Canada based oil and gas exploration company which is currently focusing on "high impact" oil and gas plays offshore the Republic of Trinidad and Tobago. See www.challenger-energy.com for information on Challenger.
ADVERTISEMENT
Canadian Superior is a Calgary, Alberta, Canada based oil and gas exploration and production company with operations primarily offshore Trinidad and Tobago, offshore Nova Scotia, Canada and in Western Canada. (See Canadian Superior's website at www.cansup.com for information on Canadian Superior).
BG Group plc (LSE:BGL.L - News) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with an excellent track record in finding and commercialising reserves. See www.bg-group.com for information on BG Group plc.
This news release contains forward-looking information, including estimates, projections, interpretations, prognoses and other information that may relate to current, past or future production, development(s), testing, well test results, project start-ups and future capital spending. Current, past and/or future actual results and/or reported results, estimates, projections, interpretations, prognoses, well results, test results, reserves, production, resource and/or resource potential, development(s), project start-ups, and capital spending, plans and/or estimated results could differ materially due to changes in project schedules, operating performance, demand for oil and gas, commercial negotiations or other technical and economic factors or revisions. This news release may contain the reference to the terms discovery, reserves and/or resources or resource potential which are those quantities estimated to be contained in accumulations. There is no certainty that any portion of these accumulations or estimated accumulations in this news release may not change materially; and that, if discovered, in any discovery, the accumulations or estimated accumulations may not be economically viable or technically feasible to produce.
Statements contained in this news release relating to estimates, results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 20-F on file with the U.S. Securities and Exchange Commission.
"One Hand Washes the Other"
We knew this one was going to be HUGE back at $4 little..lol..People just did not listen!
MXC bid $50 premarket LOL. Looks like someone's deliberately trying to squeeze shorts. Not sure that'll work but fun to see the pop up. Not gonna sell my crumb of shares I ahve elft though. Uh-Uh...
Managed to get one (last?) dance in with my daughter before MXC headed down :) Ah what a ride.
Guess this is the last post for the day. That's OK, gotta go play before work, burn some energy out of my daughter so the Mrs doesn't get burned out on her while I'm at work!
5 year olds have LOTS of energy. Woo.
OM- NCEY is already acting like a monster... Nice call on it, I was scared away by the balloon payment. But the appetite for micro energy plays is insatiable.
Funny how speculative things can get when large fundamentals drive concentration into microland.
MXC is a MONSTER..My little NCEY may grow up to be a MONSTER!
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!
LOL, yet another new high. Truly amazing and great earnings. Too bad I'm pretty much out.
Fun to see it be able to move up even after the monstrous run it has had:)
Ought to call Tammy and say 'WOOHOO!' LOL.
Let's Go Mexco! Feel like breaking out a dance with my 5 year old daughter for nostalgic purposes LOL.
Amazing, back over $50. Gotta be some shorts out there crying foul:) They'll be patient I'm sure. Better hope nat gas quits climbing for them. I'm rooting for the longs as always though, even if bigtime extended...
Good luck with NCEY.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
Thanks little..Think it has alot more to go
Nice call on NCEY regardless. It has had a nice run:)
Have a strange feeling the CD will be converted to some type of conventional loan>>>We shall see!
Has had a nice ride. Not my style of investment though. Did they get the balloon payment restructured yet? I hadn't looked.
Good luck, good to see it working out nicely (along with all things nat gas:)... I shoulda stuck to my thesis originally- to invest in MXC for next few years as I think/thought nat gas had more potential upside than oil and coal.
hey little...NCEY is little MXC in the making!
WEEEEEEEEEEEEEEEEEEEEEEEEEE! LOL, for old time's sake. Man, if only I'd kept all those shares...! Unbelievable staying power and volume with MXC...
getting close to hunting down $50 again!
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
Mexican Standoff: a New Threat to Oil
By JIM MCTAGUE | MORE ARTICLES BY AUTHOR
Why Mexican oil matters.
AY, CARAMBA! OUR PETROLEUM AND NATURAL-GAS supply pains could get a lot sharper, owing to both the growing potential for political instability in Mexico, which is waging war against powerful, home-grown drug cartels, and to soaring levels of political inanity in the U.S.
Mexico? Believe it or not, our No. 1 source of illegal immigrants and illegal drugs is also our No. 3 source of imported oil. Mexico shipped us about 1.3 million barrels a day in March, according to the Energy Information Administration. Canada is our top supplier, at 2 million barrels a day, followed by Saudi Arabia at 1.5 million barrels. Then come Nigeria, Venezuela, and Iraq.
But Mexico's crude production is falling, because its state oil monopoly, Petroleos Mexicanos, or Pemex, has cut corners on capital improvements and also is finding less and less oil in the shallow waters of the Gulf. Pemex estimates that it needs to spend about $50 billion over the next 10 years to improve its refining, plus $7 billion a year to develop deepwater oil fields. It ain't cheap to go deep. Chevron tells us that deepwater drilling platforms, which are in short supply amid strong worldwide demand, cost $800 million each, plus another $1 million per day to operate. These rigs are in waters a mile or more in depth.
Pemex, however, might not get the money it needs, thanks to local politics. About 80% of its revenue, which totaled $104 billion in 2007, goes to the government, covering about 40% of the national budget. Lawmakers are reluctant to live with less, which they would have to do if Pemex spends more on capital improvements. The government needs increasing amounts of cash to field 30,000 federal troops to battle the drug cartels, which are also waging bloody battles for dominance among themselves.
Mexico spent $3 billion on the military operation last year and found it insufficient to defeat the well-armed, well-financed drug lords, who have $20 billion to $40 billion in yearly revenue, according to George Friedman, chief executive of Stratfor, a private, global intelligence firm.
If the war continues and Pemex can't raise more cash, it oil exports to the U.S. could be squeezed significantly within 10 years. If the cartels destabilize the Mexican government, the day of reckoning could come far sooner.
Our government doesn't think that the cartels can mount a serious challenge to the government of President Felipe Calderon.
Steven Robertson, a special agent for the Drug Enforcement Administration, says that the cartels have haphazard chains of command and that they lack cohesiveness. J. Jesus Esquivel, Washington correspondent for Proceso magazine, says the Mexican army is too powerful to be defeated by the cartels, even though many are run by deserters from the armed forces.
But Denise Dresser Guerra, a political-science professor at Instituto Tecnologico Autonomo de Mexico, says the drug cartels don't need to mount a serious challenge to the federal government to cause instability, given that they have corrupted so many local and state governments.
We could easily replace the supplies of Mexican oil within 10 years if we allowed drilling for gas and oil in the shallow waters 100 miles off Florida and other states, where there is an estimated 30 years of supply. This will not happen. The politicians and presidential candidates are more interested in name-calling than in substantive debate. Republicans try to blame Democrats, who oppose drilling for legitimate environmental concerns, for causing high gasoline prices. The Democrats accuse Republicans, who want a secure energy supply for the U.S., of trying to help Big Oil make bigger profits.
One lost irony: While our politicians showboat for votes, Cuba is allowing Chinese energy companies to drill for oil and gas in the Gulf, less than 90 miles from Florida.
WE RAISED QUESTIONS LAST WEEK ABOUT PRESIDENTIAL candidate Barack Obama's confusing stance on nuclear energy. He is both for and against it, while rival John McCain is unabashedly pro-nuclear and favors a controversial proposal to store spent nuclear waste at Yucca Mountain in Nevada -- a stance sure to cost him that state in November.
Obama tossed off some lines in a Miami speech in May that sounded like a major proposal. His staff finally got back to us with some details, well after our deadline last week, and the proposals, it turns out, are fairly modest. For instance, when Obama said he would establish a program for the Department of Energy and its laboratories to "share technology with countries across the region," he was talking about a technology-transfer program dedicated to exporting climate-friendly technologies, not a technology giveaway. That's a relief.
He also said he would establish an energy corps to send engineers and scientists abroad "to help develop clean energy solutions." Translation: He will extend opportunities for older Americans -- teachers, engineers, and doctors -- to serve overseas promoting "green energy." Pack the bags and the carbon-sniffer, Maud! We're skipping Florida this winter.
GZ.to,,ACEYF.pk..
A true Ngas Stock.. Hank
Accrete Energy,, GZ.to,, ACEYF.pk
Shares outstanding as at September 15, 2007:
Basic - 16,497,902
Diluted - 18,127,747
Share ownership:
Management / Insiders - 26.7%
Accrete Energy, Inc., a junior oil and gas company, engages in the exploitation and production of petroleum and natural gas in Alberta, Canada.
It owns interest in the Harmattan property comprising two cardium oil wells and 256 hectares of land located 90 kilometers northwest of Calgary;
an 80% working interest in the Edson property, which consists of two gas wells situated 190 kilometers west of Edmonton;
a 100% interest in the Claresholm property consisting two multi-zone gas wells in Calgary; the Saxon property comprising one multi zone gas well located 125 kilometers southeast of Grande Prairie;
and the Pouce Coupe property, which consists of three gas wells located 100 kilometers northwest of Grande Prairie.
As of December 31, 2006, the company had total proved and probable reserves of approximately 645 thousand barrels of light and medium oil; 26.21 billion cubic feet of gas; and 2,302 thousand barrels of natural gas liquids. Accrete Energy was founded in 2004 and is headquartered in Calgary, Canada.
Home Page...http://www.accrete-energy.com/mandir.htm
Press Releases: http://www.accrete-energy.com/news.htm
Stockhouse Message board:
http://www.stockchase.com/Company-sl--slq-ID-slv-Accrete--Energy--Inc..php
Accrete Energy (GZ.TO).
==========================================
Posted by: nutsaboutgolf2001
==========================================
In reply to: None Date:2/22/2008 11:55:42 AM
Post #of 2038
GZ.TO Over the last week or so I’ve been accumulating Accrete Energy (GZ.TO). They have a very good presentation on their website at www.accrete-energy.com. The key points:
1.They have been able to grow production from a 1,000 BOE/d to 3,654 BOE/d over the past three years.
2.Cash flow per share for 2007 is estimated by company at $1.39 with 0.42 of that occurring in the forth quarter. I’d guesstimate that they will show earnings of 35 cents for the full year with again a very solid 4th quarter.
3.Proven reserves amount to 0.70 of a barrel of oil equivalent per share. At $50 a barrel, that’s an amazing $35 per share (in situ).
4.NAV is $8.52.
5. Reserves are 36 % oil and natural gas liquids and 64 % gas.
6. Latest finding and on stream costs are $11.53 per boe (Q3 2007). Amazingly low and results in low depreciation and depletion costs and thus quite profitable operations even at low natural gas prices.
7. Operating costs are also very low ($5.49 per boe for 2006).
8. They had a funds flow from operations in the latest quarter of 33 cents per share with earnings of 4 cents per share during which time the AECO average price for Canadian natural gas was an incredibly low $4.93 per GJ. It is currently at $7.73 and averaged $5.81 over the 4th quarter. So first quarter cash flows and earnings should be great.
9. Joseph S. has recommended this stock last month, at that time natural gas prices were a lot lower.
10.Technically GZ has broken it's downtrend and is in the bottoming process; looks poised for a major upswing on good earnings or a recommendation from JS, next time he appears on BNN.
Please post stock symbols first in all your posts. If it's a foreign stock, please also list the US pk equivalent symbol...
Another big day for MXC. Boy, they are doing a very nice job of defying gravity for an extended period of time! I'll be curious what kind of reserves #s they put out end of June. Kinda bumming I don't have hardly any left...
Teehehe kinda fun seeing some shorts get squeezed on a very solid company regardless of whether the share price is overvalued or not...
Good, except I need to save some posts in case a new poster shows up on AYSI's board tonight LOL. Hope you are doing well. I'm still trying t ofind another couple companies to invest bigger in but can't find any. Not yet anyhow. I'm picky though so will just sit back and be patient. Probably apssing up on many good opportunities but I want to be fairly sure of what I'm betting on.
I should probably call Tammy to see if thing shave cooled at all at Mexco. She's probably been extremely busy lately just with phone calls LOL. Probably wait a bit longer to see if htings die back more. Darned shares are rallying again today. Maybe the annual report in June will disappoint people paying this much for shares and reidrect the price back down to where I can start building back a better position.
Good luck. Time to go for me for now.
Hey little! How goes it today?
WEEEEEEEEE! LOL, I bet someone at work a coke that MXC would close over $15 by the end of June (that was awhile ago BTW when the share price had just cracked over $20 but not at $35+). He's in trouble now:)
I only have a tiny amount left. Still, fun to see the jump today. I was going to start buying back a few more if it cracked under $30. Oh well, I figure every share that can be short probably is so could be a squeeze if it takes off.
Still too expensive, but I like seeing shorts get squeezed in good companies...
I hope so to..Remember I bought MXC last September..I have patience for things to materialize..These high oil prices are giving the little oil companies more revs to work with than they are use to
Doesn't change the balloon payment coming due in June and their continued cash burn even with improved results. Although as I mentioned the Q report was a nice improvement.
I'll keep looking but thanx for the tip. Hopefully it does well.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
From NCEY Q/Last PR
Cash and cash equivalents $5,693,688
Restricted cash $1,465,071
Certificate of deposit $35,075
“The strong first quarter results are a direct result of our continuing success in our drilling program in McMullen County, Texas. We are maintaining high production levels into the second quarter and during April we also completed a new oil well in Wharton County making 80 BOPD.” NCEY’s first-quarter revenue was $5.9 million for the three months ending March 31, 2008, a 100% increase from $3.0 million for the first three months of the prior year; Total net oil production for the three months ended March 31, 2008 was 50,387 barrels of oil on Company operated properties; which is up 48% from 34,032 barrels in the first-quarter 2007; Total net gas production for the three months ended March 31, 2008 was 144 MMCF of gas; Total proved reserves at year end 2007 equaled 2.1 million barrels of oil equivalent (BOE); Approximately 76% of New Century’s proved reserves are oil, with the remaining 24% natural gas; Gross acreage under lease as of March 31, 2008 equaled 20,726 gross acres, compared to 17,214 gross acres as of March 31, 2007; and Adjusted EBITDA for the first-quarter of 2008 was $3.8 million, compared to $1.7 million reported in the first-quarter of 2007
WOW is right
'Mexco Energy Corporation'
40,000,000 shares authorized;
The number of shares outstanding of the registrant’s common stock, par value $.50 per share, as of February 14, 2008 was 1,757,366.
(plenty of room for dilution here - something to think about)
Rev's $2,642,302 nine months ending 12/31/07
Market cap $56M (wow, thats some multiple of Rev's)
P/E 131
Long-Term Debt. We have a revolving credit agreement with Bank of America, N.A. (“Bank”), which provides for a credit facility of $5,000,000, subject to a borrowing base determination bearing interest at prime rate per annum with a maturity date of October 31, 2009. On September 26, 2007, the borrowing base was redetermined and set at $4,225,000. As of December 31, 2007, the balance outstanding under this agreement was $3,075,000. The borrowing base is evaluated annually, on or about August 1. Amounts borrowed under this agreement are collateralized by the common stock of our wholly owned subsidiary and all oil and gas properties. Two letters of credit for $50,000 each, in lieu of a plugging bond covering the properties we operate, are outstanding under the facility, one with the Texas Railroad Commission and one with the State of New Mexico. Interest under this agreement is payable monthly at the prime rate (7.25% and 8.25% at December 31, 2007 and 2006, respectively). This agreement generally restricts our ability to transfer assets or control of the Company, incur debt, extend credit, change the nature of our business, substantially change management personnel or pay cash dividends. The balance outstanding on the line of credit as of February 14, 2008 was $2,925,000.
Results of Operations - Three Months Ended December 31, 2007 and 2006. Net income increased from $67,080 for the quarter ended December 31, 2006 to $221,114 for the quarter ended December 31, 2007, an increase of $154,034 or 230%.
Oil and gas sales increased from $663,031 for the third quarter of fiscal 2007 to $952,211 for the same period of fiscal 2008. This increase of 44% or $289,180 resulted from an increase in oil and gas prices and production. Average gas prices increased from $5.34 per mcf for the third quarter of fiscal 2007 to $6.36 per mcf for the same period of fiscal 2008. Average oil prices also increased from $49.35 per bbl for the third quarter of fiscal 2007 to $86.05 for the same period of fiscal 2008. Oil and gas production quantities were 4,212 barrels (“bbls”) and 85,244 thousand cubic feet (“mcf”) for the third quarter of fiscal 2007 and 4,515 bbls and 88,630 mcf for the same period of fiscal 2008, an increase of 7% in oil production and 4% in gas production.
Production costs increased 10% from $218,774 for the third quarter of fiscal 2007 to $241,019 for the same period of fiscal 2008. This was the result of increased production taxes due to the increase in oil and gas sales.
General and administrative expenses increased 6% from $176,791 for the third quarter of fiscal 2007 to $187,648 for the same period of fiscal 2008. This was due to an increase in salaries, consulting services and fees.
Re NCEY- The balloon payment to Laurus coming up end of June looms large and you know how microcap lenders are with cash-strung microcap companies in gegnral: They rape them and then pillage them. Then they throw them on the fire. Ugh.
The results are improving, but still negative. And they are burning cash on top of needing to pay that balloon amount.
So IMO only it is a sketchy play.
With the 10% clause max ownership for Laurus, I am curious how the refi of balloon payment might look. But I'd only want to see it as a nonowner:) Not sure what damage may come of it.
That's my 10 minutes' DD worth (enough to turn me off of it but good luck).
Do some reading on NCEY..Might like what you see
Hope you had fun in Montreal. Ya it is a luxury complaint for sure... I have to start spending some time looking at companies again. I've been tied down with other stuff and haven't hardly even glanced at anything in awhile.
Good luck out there, pretty choppy these days...
I'd love to be able to complain about paying taxes on short term gains. It would definitely help offset all the losers in my account. =)
Hi Littlefish! Just got back from Montreal for a bachelor's party. I did pick up some AYSI last week. I've read some of your recent posts on the board. Need to do some of my own DD on it though and may pick some more up if it drops.
Thats one of the best DD posts I have seen and from a handle like 10 bagger, ha good one.
Accrete Energy,, GZ.to,, ACEYF.pk
One of my VMC Pick Six Lotto 9 picks..hank
Shares outstanding as at September 15, 2007:
Basic - 16,497,902
Diluted - 18,127,747
Share ownership:
Management / Insiders - 26.7%
Accrete Energy, Inc., a junior oil and gas company, engages in the exploitation and production of petroleum and natural gas in Alberta, Canada.
It owns interest in the Harmattan property comprising two cardium oil wells and 256 hectares of land located 90 kilometers northwest of Calgary;
an 80% working interest in the Edson property, which consists of two gas wells situated 190 kilometers west of Edmonton;
a 100% interest in the Claresholm property consisting two multi-zone gas wells in Calgary; the Saxon property comprising one multi zone gas well located 125 kilometers southeast of Grande Prairie;
and the Pouce Coupe property, which consists of three gas wells located 100 kilometers northwest of Grande Prairie.
As of December 31, 2006, the company had total proved and probable reserves of approximately 645 thousand barrels of light and medium oil; 26.21 billion cubic feet of gas; and 2,302 thousand barrels of natural gas liquids. Accrete Energy was founded in 2004 and is headquartered in Calgary, Canada.
Home Page...http://www.accrete-energy.com/mandir.htm
Press Releases: http://www.accrete-energy.com/news.htm
Stockhouse Message board:
http://www.stockchase.com/Company-sl--slq-ID-slv-Accrete--Energy--Inc..php
Accrete Energy (GZ.TO).
==========================================
Posted by: nutsaboutgolf2001
==========================================
In reply to: None Date:2/22/2008 11:55:42 AM
Post #of 2038
GZ.TO Over the last week or so I’ve been accumulating Accrete Energy (GZ.TO). They have a very good presentation on their website at www.accrete-energy.com. The key points:
1.They have been able to grow production from a 1,000 BOE/d to 3,654 BOE/d over the past three years.
2.Cash flow per share for 2007 is estimated by company at $1.39 with 0.42 of that occurring in the forth quarter. I’d guesstimate that they will show earnings of 35 cents for the full year with again a very solid 4th quarter.
3.Proven reserves amount to 0.70 of a barrel of oil equivalent per share. At $50 a barrel, that’s an amazing $35 per share (in situ).
4.NAV is $8.52.
5. Reserves are 36 % oil and natural gas liquids and 64 % gas.
6. Latest finding and on stream costs are $11.53 per boe (Q3 2007). Amazingly low and results in low depreciation and depletion costs and thus quite profitable operations even at low natural gas prices.
7. Operating costs are also very low ($5.49 per boe for 2006).
8. They had a funds flow from operations in the latest quarter of 33 cents per share with earnings of 4 cents per share during which time the AECO average price for Canadian natural gas was an incredibly low $4.93 per GJ. It is currently at $7.73 and averaged $5.81 over the 4th quarter. So first quarter cash flows and earnings should be great.
9. Joseph S. has recommended this stock last month, at that time natural gas prices were a lot lower.
10.Technically GZ has broken it's downtrend and is in the bottoming process; looks poised for a major upswing on good earnings or a recommendation from JS, next time he appears on BNN.
10. At $4.70, GZ’s share price is less than half of what it was in the Fall of 2005, yet since that time production has almost tripled, NAV has risen substantially and GZ is poised to make huge profits and cash flows if natural gas prices can hold in the current range.
.<Font Color=RED>FEEL THE POWER OF THE GAS CRUNCH 4 BUCKS HEADING TO 5 DOLLARONIS PER GALLON. YUK.
Short term taxable gains only if you sell and if you do you can always roll the proceeds into a longer term holding. I have alot of short term taxable stuff except that its not really high dollar so I am not worried too much. Either way taxes are always assured. Better to pay them than to have your stock beaten down though.
One problem I'll have with Mexco is the short term taxable gains. All the shares in my wife's acct are taxable. And those were the ones that got sold at the highest levels. Yow. Good prob to have, but still...
Keep your eyes on AYSI, it seems like it is getting wound up to make a big move too. Just need a big buyer and that thing could catch fire as well with its structure.
PS- nat gas at $12? Yeaaahhh. May need to start combing those micro nat gas plays once (if?) they come back down a bit.
Agree with this. Could be some good plays on the Amex,NYSE for Nat Gas at good prices that havent been overly discovered as of yet.
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WELCOME TO MEXCO ENERGY CORPORATION ONLINE
Mexco Energy Corporation is an independent, publicly owned oil and gas company engaged in acquiring and developing oil and gas properties and the exploration for and production of oil and gas. Mexco Energy Corporation, a Colorado corporation founded in 1972, currently conducts all of its drilling, exploration and production activities in the United States. All of its oil and gas assets are located in the United States and all of its revenues are derived from sales to customers within the United States, primarily in the Permian Basin of West Texas.
Mexco focuses primarily on the exploration for and development primarily of natural gas reserves and secondarily oil reserves.
In addition to exploration and development, Mexco acquires interests in producing and non-producing oil and gas leases from landowners and leaseholders in areas considered favorable for oil and gas exploration, development and production.
Mexco also engages in the business of acquiring proved reserves and continually searches for opportunities to acquire proved oil and gas properties, including royalties and mineral interests with development potential.
Mexco common stock is listed and trades on the American Stock Exchange under the symbol MXC.
CORPORATE GOVERNANCE | ||
Directors of Mexco Energy Corporation Thomas Graham, Jr. - Chairman of the Board of Directors | Officers of Mexco Energy Corporation Nicholas C. Taylor - President, Chief Executive Officer, Director |
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