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"Oil prices could ‘very easily’ top $100 a barrel, says former U.S. energy secretary"
https://www.cnbc.com/2021/07/06/oil-prices-could-top-100-former-us-energy-secretary-on-failed-opec-talks.html
WTI Crude Oil
The West Texas Intermediate Crude Oil market has broken higher again during the course of the week to reach towards the $74 level. That being said, the market is likely to see plenty of buyers on dips, with the $67.50 level being my projected “floor the market” currently as it is the top of the ascending triangle. Furthermore, the $70 level of course is an area that would attract a certain amount of attention as well.https://www.fxempire.com/forecasts/article/crude-oil-weekly-price-forecast-crude-oil-markets-continue-to-shoot-higher-746309
$XFLS$VBHI$EEENF
$EORIF-Enhanced oil resources. $6.8 million in cash, no debt, record revenue, positive EBITDA of $784,000.
Pending news on financing and drilling program
Insider Peavy bought 2.8 million shares over the first 10 months since he was hired from Kinder Morgan. He stopped buying in mid October pending news. EORIF has a contract in place with Kinder Morgan for CO2. EORIF plans to CO2 flood 20,000 acres in the Permian Basin, beginning 2015.
Current production is 400-500 bopd. Under flood, Milnesand will produce 2500-3000, Chaveroo will produce another 7500.
Current reserves valued at $54 million, under CO2 Flood PV-10 anticipated to be $260 million.
PEAVY, MARK ALAN
Insider's Relationship to Issuer: 5 - Senior Officer of Issuer
Ceased to be Insider: Not applicable
Security designation: Common Shares (Common Shares)
2225967 2013-01-23 2013-02-19 Direct Ownership :
00 - Opening Balance-Initial SEDI Report Common Shares
O 2225972 2013-02-04 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1077 Common Shares +50,000
A 2225972 2013-02-04 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1077 USD 50,000 Common Shares +50,000 50,000
O 2225970 2013-02-06 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1078 50,000 Common Shares +50,000
A 2225970 2013-02-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1078 USD 100,000 50,000 Common Shares +50,000 100,000
O 2225974 2013-02-06 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +9,500 0.0979 Common Shares +9,500
A 2225974 2013-02-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +9,500 0.0979 USD 109,500 Common Shares +9,500 109,500
O 2225975 2013-02-07 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +24,000 0.0977 Common Shares +24,000
A 2225975 2013-02-07 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +24,000 0.0977 USD 133,500 Common Shares +24,000 133,500
O 2225977 2013-02-07 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +500 0.0979 Common Shares +500
A 2225977 2013-02-07 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +500 0.0979 USD 134,000 Common Shares +500 134,000
O 2225979 2013-02-08 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +16,000 0.0973 Common Shares +16,000
A 2225979 2013-02-08 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +16,000 0.0973 USD 150,000 Common Shares +16,000 150,000
O 2225990 2013-02-11 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +4,000 0.0968 Common Shares +4,000
A 2225990 2013-02-11 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +4,000 0.0968 USD 154,000 Common Shares +4,000 154,000
O 2225991 2013-02-11 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1000 Common Shares +5,000
A 2225991 2013-02-11 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1000 USD 159,000 Common Shares +5,000 159,000
O 2225988 2013-02-14 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1024 Common Shares +50,000
A 2225988 2013-02-14 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 0.1024 USD 209,000 Common Shares +50,000 209,000
O 2225989 2013-02-14 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +66,000 0.0974 Common Shares +66,000
A 2225989 2013-02-14 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +66,000 0.0974 USD 275,000 Common Shares +66,000 275,000
O 2225987 2013-02-15 2013-02-19 Direct Ownership :
10 - Acquisition or disposition in the public market +100,000 0.0969 Common Shares +100,000
A 2225987 2013-02-15 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +100,000 0.0969 USD 375,000 Common Shares +100,000 375,000
O 2229796 2013-02-20 2013-02-25 Direct Ownership :
10 - Acquisition or disposition in the public market +7,500 0.0910 Common Shares +7,500
A 2229796 2013-02-20 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +7,500 0.0910 USD 382,500 Common Shares +7,500 382,500
O 2229800 2013-02-21 2013-02-25 Direct Ownership :
10 - Acquisition or disposition in the public market +22,000 0.0908 Common Shares +22,000
A 2229800 2013-02-21 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +22,000 0.0908 USD 404,500 Common Shares +22,000 404,500
O 2229801 2013-02-25 2013-02-25 Direct Ownership :
10 - Acquisition or disposition in the public market +16,000 0.1048 Common Shares +16,000
A 2229801 2013-02-25 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +16,000 0.1048 USD 420,500 Common Shares +16,000 420,500
O 2246208 2013-02-28 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +14,000 0.1144 Common Shares +14,000
A 2246208 2013-02-28 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +14,000 0.1144 USD 434,500 Common Shares +14,000 434,500
O 2246213 2013-02-28 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +14,500 0.1150 Common Shares +14,500
A 2246213 2013-02-28 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +14,500 0.1150 USD 449,000 Common Shares +14,500 449,000
O 2246207 2013-03-04 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +1,000 0.1192 Common Shares +1,000
A 2246207 2013-03-04 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +1,000 0.1192 USD 450,000 Common Shares +1,000 450,000
O 2246200 2013-03-05 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1170 Common Shares +5,000
A 2246200 2013-03-05 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1170 USD 455,000 Common Shares +5,000 455,000
O 2246201 2013-03-05 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +71,500 0.1143 Common Shares +71,500
A 2246201 2013-03-05 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +71,500 0.1143 USD 526,500 Common Shares +71,500 526,500
O 2246204 2013-03-05 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +69,500 0.1192 Common Shares +69,500
A 2246204 2013-03-05 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +69,500 0.1192 USD 596,000 Common Shares +69,500 596,000
O 2239659 2013-03-06 2013-03-11 Direct Ownership :
10 - Acquisition or disposition in the public market +44,000 0.1193 Common Shares +44,000
A 2239659 2013-03-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +44,000 0.1193 USD 640,000 Common Shares +44,000 640,000
O 2239661 2013-03-06 2013-03-11 Direct Ownership :
10 - Acquisition or disposition in the public market +2,500 0.1193 Common Shares +2,500
A 2239661 2013-03-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +2,500 0.1193 USD 642,500 Common Shares +2,500 642,500
O 2239663 2013-03-06 2013-03-11 Direct Ownership :
10 - Acquisition or disposition in the public market +8,000 0.1192 Common Shares +8,000
A 2239663 2013-03-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +8,000 0.1192 USD 650,500 Common Shares +8,000 650,500
O 2239664 2013-03-06 2013-03-11 Direct Ownership :
10 - Acquisition or disposition in the public market +6,500 0.1188 Common Shares +6,500
A 2239664 2013-03-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +6,500 0.1188 USD 657,000 Common Shares +6,500 657,000
O 2246198 2013-03-06 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +79,000 0.1193 Common Shares +79,000
A 2246198 2013-03-06 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +79,000 0.1193 USD 736,000 Common Shares +79,000 736,000
O 2240896 2013-03-07 2013-03-12 Direct Ownership :
10 - Acquisition or disposition in the public market +100,000 0.1191 Common Shares +100,000
A 2240896 2013-03-07 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +100,000 0.1191 USD 836,000 Common Shares +100,000 836,000
O 2246220 2013-03-07 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +1,500 0.1142 Common Shares +1,500
A 2246220 2013-03-07 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +1,500 0.1142 USD 837,500 Common Shares +1,500 837,500
O 2246219 2013-03-11 2013-03-19 Direct Ownership :
10 - Acquisition or disposition in the public market +98,500 0.1144 Common Shares +98,500
A 2246219 2013-03-11 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +98,500 0.1144 USD 936,000 Common Shares +98,500 936,000
O 2248630 2013-03-19 2013-03-22 Direct Ownership :
10 - Acquisition or disposition in the public market +10,500 0.1144 Common Shares +10,500
A 2248630 2013-03-19 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +10,500 0.1144 USD 946,500 Common Shares +10,500 946,500
O 2248634 2013-03-19 2013-03-22 Direct Ownership :
10 - Acquisition or disposition in the public market +35,500 0.1146 Common Shares +35,500
A 2248634 2013-03-19 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +35,500 0.1146 USD 982,000 Common Shares +35,500 982,000
O 2253835 2013-03-22 2013-03-28 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 1.1052 Common Shares +50,000
A 2253835 2013-03-22 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +50,000 1.1052 USD 1,032,000 Common Shares +50,000 1,032,000
O 2257618 2013-03-28 2013-04-03 Direct Ownership :
10 - Acquisition or disposition in the public market +28,000 0.1058 Common Shares +28,000
A 2257618 2013-03-28 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +28,000 0.1058 USD 1,060,000 Common Shares +28,000 1,060,000
O 2257621 2013-03-28 2013-04-03 Direct Ownership :
10 - Acquisition or disposition in the public market +26,000 0.1059 Common Shares +26,000
A 2257621 2013-03-28 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +26,000 0.1059 USD 1,086,000 Common Shares +26,000 1,086,000
O 2257622 2013-03-28 2013-04-03 Direct Ownership :
10 - Acquisition or disposition in the public market +500 0.1059 Common Shares +500
A 2257622 2013-03-28 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +500 0.1059 USD 1,086,500 Common Shares +500 1,086,500
O 2260314 2013-04-01 2013-04-08 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1100 Common Shares +5,000
A 2260314 2013-04-01 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1100 USD 1,091,500 Common Shares +5,000 1,091,500
O 2260315 2013-04-01 2013-04-08 Direct Ownership :
10 - Acquisition or disposition in the public market +6,000 0.1100 Common Shares +6,000
A 2260315 2013-04-01 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +6,000 0.1100 USD 1,097,500 Common Shares +6,000 1,097,500
O 2262682 2013-04-01 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +3,000 0.1100 Common Shares +3,000
A 2262682 2013-04-01 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +3,000 0.1100 USD 1,100,500 Common Shares +3,000 1,100,500
O 2262680 2013-04-02 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +31,500 0.1100 Common Shares +31,500
A 2262680 2013-04-02 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +31,500 0.1100 USD 1,132,000 Common Shares +31,500 1,132,000
O 2262676 2013-04-04 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +14,900 0.1000 Common Shares +14,900
A 2262676 2013-04-04 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +14,900 0.1000 USD 1,146,900 Common Shares +14,900 1,146,900
O 2262678 2013-04-04 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +85,100 0.1000 Common Shares +85,100
A 2262678 2013-04-04 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +85,100 0.1000 USD 1,232,000 Common Shares +85,100 1,232,000
O 2262673 2013-04-08 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1000 Common Shares +5,000
A 2262673 2013-04-08 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +5,000 0.1000 USD 1,237,000 Common Shares +5,000 1,237,000
O 2262675 2013-04-08 2013-04-10 Direct Ownership :
10 - Acquisition or disposition in the public market +15,000 0.1000 Common Shares +15,000
A 2262675 2013-04-08 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +15,000 0.1000 USD 1,252,000 Common Shares +15,000 1,252,000
O 2274041 2013-04-25 2013-05-08 Direct Ownership :
10 - Acquisition or disposition in the public market +67,000 0.1000 Common Shares +67,000
A 2274041 2013-04-25 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +67,000 0.1000 USD 1,319,000 Common Shares +67,000 1,319,000
2281593 2013-05-16 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +142,000 0.0900 USD 1,461,000 Common Shares +142,000 1,461,000
O 2281596 2013-05-17 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +8,000 0.0900 USD Common Shares +8,000
A 2281596 2013-05-17 2013-05-21 Direct Ownership :
10 - Acquisition or disposition in the public market +8,000 0.0900 USD 1,469,000 Common Shares +8,000 1,469,000
2292283 2013-06-07 2013-06-10 Direct Ownership :
10 - Acquisition or disposition in the public market +160,000 0.0800 1,629,000 Common Shares +160,000 1,629,000
2299757 2013-06-21 2013-06-24 Direct Ownership :
10 - Acquisition or disposition in the public market +200,000 0.0600 USD 1,829,000 Common Shares +200,000 1,829,000
2300480 2013-06-24 2013-06-26 Direct Ownership :
10 - Acquisition or disposition in the public market +10,000 0.0600 USD 1,839,000 Common Shares +10,000 1,839,000
2300481 2013-06-25 2013-06-26 Direct Ownership :
10 - Acquisition or disposition in the public market +190,000 0.0600 USD 2,029,000 Common Shares +190,000 2,029,000
2310200 2013-07-10 2013-07-11 Direct Ownership :
10 - Acquisition or disposition in the public market +200,000 0.0542 2,229,000 Common Shares +200,000 2,229,000
2318622 2013-07-30 2013-08-02 Direct Ownership :
10 - Acquisition or disposition in the public market +46,000 0.0560 2,275,000 Common Shares +46,000 2,275,000
2318624 2013-08-01 2013-08-02 Direct Ownership :
10 - Acquisition or disposition in the public market +2,000 0.0600 2,277,000 Common Shares +2,000 2,277,000
2318625 2013-08-01 2013-08-02 Direct Ownership :
10 - Acquisition or disposition in the public market +8,000 0.0600 2,285,000 Common Shares +8,000 2,285,000
2318627 2013-08-02 2013-08-02 Direct Ownership :
10 - Acquisition or disposition in the public market +85,000 0.0600 2,370,000 Common Shares +85,000 2,370,000
2323111 2013-08-12 2013-08-13 Direct Ownership :
10 - Acquisition or disposition in the public market +15,000 0.0656 2,385,000 Common Shares +15,000 2,385,000
2326300 2013-08-19 2013-08-20 Direct Ownership :
10 - Acquisition or disposition in the public market +10,000 0.0654 2,395,000 Common Shares +10,000 2,395,000
2334714 2013-09-05 2013-09-09 Direct Ownership :
10 - Acquisition or disposition in the public market +200,000 0.0750 USD 2,595,000 Common Shares +200,000 2,595,000
2341580 2013-09-20 2013-09-24 Direct Ownership :
10 - Acquisition or disposition in the public market +200,000 0.0680 USD 2,795,000 Common Shares +200,000 2,795,000
2353783 2013-10-18 2013-10-22 Direct Ownership :
10 - Acquisition or disposition in the public market +16,000 0.0705 2,811,000 0.0705 Common Shares +16,000 2,811,000
Border Petroleum (BOR)
Chart shows a double bottom in progress,
and larger volumes.
September volumes: above 14 million,
and Dundee a steady buyer ...
Summary at: Stockwrestler's Portfolio
$EORIF, Well now we have 2 insiders reporting PURCHASES
Insider name: Lasker, Barry David
Insider's Relationship to Issuer: 4 - Director of Issuer, 5 - Senior Officer of Issuer
Ceased to be Insider: Not applicable
Security designation: Common Shares (Common Shares)
2191779 2012-12-17 2012-12-19 Direct Ownership :
10 - Acquisition or disposition in the public market +43,000 0.0900 890,703 890,703 Common Shares +3,870 851,573
2191785 2012-12-19 2012-12-19 Direct Ownership :
10 - Acquisition or disposition in the public market +40,000 0.0850 930,703 Common Shares +3,400 854,973
2342657 2013-09-24 2013-09-26 Direct Ownership :
10 - Acquisition or disposition in the public market +90,000 0.0700 1,020,703 Common Shares
$EORIF, sitting on $6.9 million in cash, no debt, record revenues
Nice size bid, 1.000.000 @ .0625
Assets valued at $54 million, no debt
Market Cap is undervalued at $10 million.
Petrobank Energy and Resources Ltd T.PBG
to buy back shares
from September 2013 to September 2014.
Comment on Petrobank Energy on SH bullboard re: buy back of shares "This is good news. The bottom is / was .40 cents...the company will start the buy back and average down and people will follow of course!! Next year, this will be +$2 a share!"
Pinecrest Energy Inc. (TSX: V.PRY, Stock Forum) saw its shares rise 5.3% to 40 cents Thursday, leaving a market cap of $86.8 million, based on 217.2 million shares outstanding. The 52-week range is $2.16 and 37.5 cents.
On Wednesday, Pinecrest announced a reduction in the company’s capital program for 2013 to $80 million from $135 million.
The company’s exit production guidance was lowered from 6,000 barrels of oil equivalent per day to a range of 3,100-3,400.
Petrobank Energy and Resources Ltd. (PBG)
--from Stockhouse.com bullboard re: Petrobank Energy:
Mkt Cap $48 mill..
User avatar
drd8
4 stars
August 08, 2013 08:40 pm
Petrobank has submitted an environmental protection plan for a second THAI project at Luseland, just northwest of Kerrobert. It had $79-million in working capital and no debt as of March 31.
Value to shareholders could be huge!
User avatar
MartinDupuis.com
4 stars
August 06, 2013 01:50 pm 45 reads
Post Quality
0 stars
If they can figure out how to commercialize THAI! There are trillions of barrels of heavy oil around the world that could be extracted using THAI. At .55 cents a share, this is ridiculous!!
I see PBG trading today at 42-43c. ScotiaBank analyst has an 80c. target.
With the price of oil on the upswing, I should own this one.
Their market cap is much less than cash on hand.
LGX Oil + Gas Inc. (OIL) --Update
Rated a BUY and UNDERVALUED by MorningStar analysts:
Follow the SH link to 2nd quarter results:
http://www.stockhouse.com/news/press-releases/2013/08/12/lgx-oil-gas-inc-announces-second-quarter-2013-results
www.lgxoil.com
New Stock Alert:
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
$EORIF-Infill drilling-The work of a newly assembled development team to evaluate and refine our drilling and CO2 development plans have put us in a position to potentially extend our proved and probable reserves in the Milnesand and Chaveroo fields with the additional drilling we expect to commence in the 4th quarter of 2013 and into 2014.
Wednesday, September 4, 2013
Pinecrest Energy Inc. (PRY) (PNCGF)
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
Sonoro Energy Ltd SNVFF
Sector: Energy | Sub-Sector: Oil & Gas E&P
Sonoro Energy Ltd. is an oil exploration and development company. It focuses on asphalt resource exploration and development in Iraq.
THIS COULD BE A QUICK DOUBLE IF THEIR IRAQ OIL CONTRACT IS VERIFIED...they will then have the rights to all heavy oil in one province (with, I think 2 JV partners).
sw
COIL YOUR NEXT HUGE OIL WINNER.......Hammer
http://www.investorcalendar.com/console/ConsoleFrameset.asp?ID=171362&brand=Vcall&ClickType=&playerID=1&urlID=179197&sessionID=68001206E2F84803&email=&tck=COIL
don't forget that EOR is trading on OTCQX (red flag) does not follow SEC rules. it is a joke
actually no,
A new company "update" out today and no mention on any pipeline?? I thought there was a pipeline being built now? Seems they would update us on many miles have been laid since it's being built now. I would think they would at least mention it somewhere.
I also thought there was 100+ barrels/day now on line since the last update? August production is still only 440!! The did mention all of the cash they have spent which explains why the pipeline talk is dead. There is no money left to pursue that dream just as I mentioned. EOR could either substantially curtail their operations or raise cash to continue and now we see they have no choice but to substantially curtail their operations.
The only excitement they could generate is this spin on EBITDA which some have confused with being cash flow positive.
Tough quarter for EOR no question.
Anybody that has ever followed this company knows by now that it has existed only to the benefit of management. These guy are content to pay themselves while shareholder losses are so massive now that they just don't care enough to demand a change.
How a company can spend over $100mm to date and only produce 440 barrels is laughable. They've now wasted the last $30mm saying it was prepping for a pipeline that now they've abandoned.
Management is laughing all the way to the bank while shareholders are burning at the stake.
It's no surprise that EOR got fleeced out of St. John's and the stock never went anywhere but down after taking in $30mm. If EOR was legit they would've had shareholders that demanded change long ago. If EOR's assets were legit they would've poured $30mm into drilling it.
EOR does not have legitimate assets so they've chosen to hide behind a story of a magical pipeline while management continues to pay itself.
If nothing else, smart management would've at least attempted to acquire legitimate, prospective acreage or at least bought production. This is a wholly incompetent, inept management and this company has nothing of value.
ENHANCED OIL RESOURCES ANNOUNCES POSITIVE EBITDA OF $200,000 FOR THE SECOND QUARTER OF 2013; PROVIDES OPERATIONS UPDATE.
Enhanced Oil Resources Inc. has released its operating and financial results for the three and six months ended June 30, 2013 (all amounts are in United States dollars).
Highlights for the second quarter of 2013, including non-IFRS (international financial reporting standards) measures, compared with the corresponding quarter in 2012 are:
Revenue of $3.2-million; up 17 per cent from 2012 with 98 per cent of the revenue generated from crude oil; compares with $2.7-million for the same period last year; increase in revenue due to higher production and oil prices;
EBITDA (earnings before interest, taxes, depreciation and amortization) of $200,000, the highest in company history;
Operating netback of $41.30 per barrel of oil equivalent (boe);
A net comprehensive loss for the quarter ended June 30, 2013, of $400,000 compared with a $500,000 loss for the same period last year; decrease in the loss due in part to increased oil prices and production and lower workover expenses.
For the first half of 2013, the company also reported:
Revenue of $6.2-million, a net comprehensive loss of $1.3-million (one cent per share) for the six-month period, compared with $5.6-million and $1.1-million (one cent per share) for the same period in 2012, respectively;
Cash used in operations of $3.8-million, with $3.9-million represented by decreases in working capital, including a reduction in accounts payable of $3.3-million after completion of 2012 drilling program;
EBITDA of $228,000, the highest in company history;
Operating netback of $38.04 per boe.
Production update
Oil production during August to date has averaged 440 barrels of oil per day (bopd) while July production averaged 404 bopd. At the company's Crossroads field, oil production has averaged 304 bopd during August and 270 bopd during July. At the Milnesand field, oil production for August to date and July has averaged approximately 84 and 81 bopd, respectively, similar to averages from last quarter. After one year of oil production from the MSU No. 141 and No. 522 horizontal wells, production continues at approximately 20 bopd per well, consistent with last month's rates.
Crossroads update
Crossroads production has averaged approximately 316 bopd over the last two weeks, an increase of approximately 46 bopd over July levels. The Crossroads No. 106 well was successfully converted to a second water injector well in early August and is currently taking water at a rate of approximately 3,800 barrels of water per day (bwpd). Total water handling at Crossroads has averaged in excess of 11,000 bwpd since the No. 106 well was brought on-line. The Crossroads No. 105 and No. 302 wells have been brought back to production and are currently producing approximately 80 bopd.
Milnesand update
After approximately one year of production from the MSU No. 141 and No. 522 horizontal wells, the company continues to see consistent production rates of approximately 20 bopd per well, within the company's predrill expectations and considerably higher than the original vertical wells drilled to develop the field over 40 years ago.
The advanced petrophysical analysis and engineering studies within the Milnesand field, discussed in the company's May update, are now complete. Based on production data to date and analogous San Andres wells drilled elsewhere in the basin, the economics of horizontal infill wells at both the Milnesand and Chaveroo fields indicate that each 4,000-foot horizontal well could recover, in a most likely (P50 per cent) case, approximately 180,000 barrels of oil, having a net present value (10 per cent) of $2.8-million and an estimated rate of return in excess of 45 per cent. Based on the results of these economics, the company anticipates restarting the horizontal program in the fourth quarter of this year or early 2014.
Chaveroo update
The results of the recently completed studies at Milnesand and the similarity between the Milnesand and Chaveroo fields have accelerated the implementation of an infill horizontal drilling program across the Chaveroo field, where at least 60 horizontal wells could be drilled. The company is currently in discussions with all stakeholders at Chaveroo and has begun preparations for the drilling of two 4,000-foot laterals in and around the Jennifer Chaveroo San Andres unit. The company anticipates drilling these wells from existing well bores thereby accelerating the permitting process with the goal of initiating this program in late 2013 or early 2014.
Commenting on the results, Barry Lasker, president and chief executive officer, said: "Our operational execution is improving and together with increases in oil prices and reductions in our workover expenses since 2012, have combined to generate positive changes in our operating results. We have increased production in 2013 by 12 per cent to over 73,000 boe (401 boe/d; 98 per cent crude oil) for the six months ended June 30, which represents the highest sales rate in company history. The work of a newly assembled development team to evaluate and refine our drilling and CO2 development plans have put us in a position to potentially extend our proved and probable reserves in the Milnesand and Chaveroo fields with the additional drilling we expect to commence in the fourth quarter of 2013 and into 2014."
Chinook Energy Inc. (CKE)
Bargain price identified for an oil/gas stock this summer in the Globe's business section.
With the price of oil high and possibly going higher this fall,
Chinook Energy would be one I'd like to be holding:
The Globe and Mail attempts to identify deep value stocks in Canada that also have reasonably strong balance sheets in its Friday, Aug. 9, edition. The Globe's Ian McGugan writes in the Number Cruncher column that these stocks are trading at what appear to be bargain prices and also have enough liquid assets to meet their immediate needs. Mr. McGugan says that might make them attractive to investors who do not mind the risk involved in bottom fishing. Mr. McGugan only considered stocks with a market capitalization greater than $100-million. His picks had to have a share-price-to-tangible-book-value ratio no greater than one. Tangible book value excludes goodwill and other intangible assets. His picks needed to have consensus earnings-per-share estimate revisions over the past 90 days that were positive or unchanged. This ensures that analysts are not predicting an immediate decline in profits. Mr. McGugan's stock picks should be approached with interests, but also with caution. He says companies that are trading below their tangible book values are often cheap for good reasons. Value stocks with strong balance sheets are Teranga Gold, Chinook Energy, New Millennium Iron, Guyana Goldfields and UEX.
$EORIF Enhanced Oil Resources
Need to check out. Bottomed out last week after fund dumped shares. Headed higher. PV-10 $54 million in reserves. 400-500 Bopd. CASHFLOW positive. Market cap is only $10-12 million.
Sonoro Energy (SNV) goes from 1.5c to 3c for a double in one trading session
if it's exploration licence in Iraq is deemed valid...imo
http://stockwrestler2.blogspot.ca/
AOS broke out Friday:
http://www.stockhouse.com/companies/bullboard/aosdf/alberta-oilsands-inc?postid=21634655
s/b a lot more upside this week.
glta
YES, we see higher oil prices and a stronger USD.
That makes the Cdn oil stocks quite cheap:
ATH is the best value. Some smaller ones are:
AOS, CLL, IFR, PTR, ARW, OIL
GLTA
Oil on the rise.
Check out these bottomed-out Cdn oil stocks:
ARW, OIL, IFR, PTR.
glta
ARW, alert...
stockwrestler3on 6/14/2013 1:03:23 AM Aroway Energy Inc. V.ARW:CDX
Undervalued ARW at 52 week low...good buying opportunity, imo
DKGR 0002 Oil company starting from the ground up and making progress http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87654797
Tuesday, April 23, 2013
Petromin Resources Ltd. (PTR)
A small O/G company with a big investment in Chinese shale gas,
producing properties in Alberta, and advanced patented technologies.
A lot of potential upside here going forward...on SALE now.
Petromin Resources Ltd. is a progressive international Petroleum and Natural Gas Exploration
and Production company listed Tier 1 on the Toronto Venture Stock Exchange. The Company
is currently focused on developing 655 sq km of coalbed methane (CBM) land in Western China
along the Southern Junggar Basin (in China). Alongside significant international resource
development initiatives in China and Kuwait, the Company’s core operations include five oil
and gas producing properties in Alberta Canada along the Western Canada Sedimentary Basin.
Petromin is leading the way in technologically innovative methods designed to significantly improve reserves of existing oil pools (EOR) and to enhance the recovery of coalbed methane (ECBM) while significantly minimizing greenhouse gas (GHG) emissions.
http://www.petromin.ca/
Dear Board, I am invested in a company that recently announced they will begin brokering oil and refinary products. I am new to this business, and am wondering if the PR below sounds like a genuine business venture, or a scam? Could anyone give some insight?
Thank you!
MultiCorp International, Inc Signs Strategic Alliance Agreement With RMS Global Ltd.
COMPANY TO BROKER CRUDE OIL AND OTHER REFINERY PRODUCTS ON LONG TERM CONTRACTS
PR Newswire
SUN VALLEY, Calif., April 8, 2013
SUN VALLEY, Calif., April 8, 2013 /PRNewswire/ -- MultiCorp International, Inc, (OTC Pink: MCIC) has signed a Strategic Alliance Agreement with RMS Global Ltd out of London to further the company's business in Europe in commodities and construction projects.
The company released the following statement,"MultiCorp International, Inc. has signed a Strategic Alliance Agreement with RMS Global Ltd out of London to enable the company to expand our European presence and build a more diversified company. Through this Strategic Alliance with RMS, MultiCorp has been able to secure multiple opportunities in the refinery commodities market," stated Mr. Paul D. Lisenby, CEO of MultiCorp International, Inc.
Mr. Lisenby adds, "The company currently has the following available to sell to potential buyers on a long term basis:
Light Crude Oil
D2 –EN590
JP 54 Jet Fuel
The company is in the process of negotiating a 2 million barrel per month Crude Oil contract for a 5 year period. Our hope is to have this solidified very soon, pending the required paperwork, permits, delivery schedules, bank guarantees, etc that are needed to close this deal. These deals are quite complex in nature and require the purchaser to meet specific guidelines the company has established. MultiCorp is actively looking for companies that are interested in entering into long term contracts for Crude Oil, D2-EN 590, and Jet Fuel, as well as other petroleum products refineries are producing globally. This Strategic Partnership Agreement along with our investment from Future Energy, LLC has really given MultiCorp the opportunity to have a global impact on supplying energy products and solutions that should raise the awareness of MultiCorp 's global strategy."
Any countries or companies interested in securing long term refinery product contracts are encouraged to contact the company at info@multicorpinternational.com to find out availability and pricing.
About MultiCorp International, Inc.
MultiCorp International, Inc is a diverse company that operates in various business sectors that show true growth potential. The company builds on its executives experience in property development, constructions, medical, hospitality, agribusiness, commodities such as oil and gas, and entertainment. MultiCorp currently has several wholly owned subsidiaries such as Rivalz Sports Group, Inc which operates 810 AM WRSO Sports Radio in Orlando, FL www.810wrso.com and JoyFull Genius, Inc., www.joyfullgenius.com. The company is currently developing a 157 acre project in Dawson Creek, BC, Canada that will include a full service truck stop, hotel, motels, restaurants, and light industrial and commercial businesses. The company looks to expand through acquisitions of solid business models and management that have the potential to grow exponentially. The company will have additional subsidiaries that will eventually grow into being their own public entity, be sold, or continue to operate within MultiCorp. For further information please contact them at info@multicorpinternational.com
Aroway Energy Inc.
V.ARW:CDX
0.365 -0.045 -10.98%
hit 52 wk low today. cheap 90% oil producer (1000 boe)
increased production by 50% in one year.
www.arowayenergy.com
IFR, RECENT INSIDER BUYING:
Mar 28/13 Mar 28/13 Lyons, Gary Williams Direct Ownership Common Shares 10 - Acquisition in the public market 240,000
Mar 25/13 Mar 19/13 Welsh, Charles Martin Direct Ownership Common Shares 10 - Acquisition in the public market 47,000 $0.084
Jan 7/13 Jan 7/13 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 9,415 $0.070
Jan 4/13 Jan 4/13 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 2,000 $0.085
Jan 3/13 Jan 3/13 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.085
Jan 2/13 Jan 2/13 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 4,000 $0.075
Jan 2/13 Jan 1/13 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 2,500 $0.085
Jan 2/13 Dec 31/12 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 2,000 $0.080
Jan 2/13 Dec 31/12 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 2,500 $0.085
Jan 2/13 Dec 28/12 Boswell, William Patrick Direct Ownership Common Shares 10 - Acquisition in the public market 2,000 $0.085
INTERNATIONAL FRONTIER RESOURCES CORPORATION:
NW MONTANA MINERAL TITLE PURCHASES COMPLETED
CALGARY, ALBERTA--(Marketwire - Jan. 22, 2013) - International Frontier Resources Corporation (the "Company") (TSX VENTURE:IFR) reported today that Purchase and Sale Agreements have now been completed with ten Vendors to acquire their Mineral Titles ("Fee Acreage") located in Glacier County, NW Montana. The Company conducted a title review of the Vendor's acreage that identified various title defects, as certain title defects were not cured by the Vendor's the Company reduced the amount of acreage from 22,680 acres to 15,200 acres. The cost to acquire the Fee Acreage was $2.3 million, or $151.87 per acre, versus up to $4.2 million at $186.33 per acre as previously reported by the Company.
The Fee Acreage is located in the Alberta Basin Bakken/Exshaw tight-light-oil-play fairway that stretches 140 miles from Glacier County north to Clareholm Alberta. To date 175 wells have been licensed and/or drilled on the play fairway. The most notable discovery is DeeThree Exploration's Bakken light oil pool in the Ferguson area of SW Alberta. Ferguson is located 13 miles north of the Montana border, the Company owns Fee Acreage that adjoins the Montana - Alberta border.
International Frontier's principle properties are located in the Central Mackenzie Valley, NWT Canada and in NW Montana USA. The Company's shares are listed on the TSX-V trading under the symbol IFR.
The Company's web site has been updated it can be viewed at: www.internationalfrontier.com
Pat Boswell, President
The Company seeks Safe Harbor.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contact Information:
International Frontier Resources Corporation
Pat Boswell
President
403-215-2781
www.internationalfrontier.com
"OIL" LGX Oil + Gas Inc. (V.OIL:CDX)
has a NAV of over $1 but trades at 50c.
good entry point here, imo
glta
International Frontier Resources Corp. IFR
More activity in the Central MacKenzie Valley (NWT);
2 firms drilling;
land auction underway;
and news expected soon.
This is where IFR has drilled discovery wells in the past.
A substantial amount of insider buying occured early this year,
and just today there was a spike
in volume and share price...not too late to get in, imo
"Folks, here are some breaking developments from IFR
1) According to Pat Boswell, the company with obtain an independent petrophysical report on it’s Stewart Lake, Summit Creek and Dahadinni wells after the results of the 2013 land sale! That’s right folks, a call for nominations was issued on March 11th for the lands surrounding IFR.
2) Pat Boswell also confirmed the existence of a “bonus play” – Slater River. Here’s what he said: “The Canol, Bluefish and Slater River shale packages are all prospective candidates for horizontal drilling and multi-stage-fraccing. As we speak Husky and MGX are testing the Canol shale (MGX also tested the Bluefish) the Basin covers a large area and we feel that our acreage, and existing wellbores, are well situated.”
I’m a little biased but I think IFR will be the sleeper play of 2013. DYODD."
Alberta Oilsands Inc. AOS
Most insiders in recently at 7-9c.
with pretty big orders...
Morningside rates AOS as UNDERVALUED.
Trading now at 5-6c.
NBI Services--- A private Company..
Nbi Services Inc
Address: 16 E 16th St Ste 300
Tulsa, OK,
74119-4400
Phone: 918-582-0088
Contact this Company
BUT Same address as a Trucking company.... and Non-residential ?
NBI SERVICES INC
16 E 16TH ST
TULSA, OK 74119-4450 | view map
(918) 582-0088
COMPANY OVERVIEW
NBI SERVICES INC is in the Operators of Nonresidential Buildings industry in TULSA, OK. This company currently has approximately 1 to 5 employees and annual sales of Under $500,000.
Once Big Oil Investors see ~FOGC~ @.0002! PPS Gains will coming FAST!!!!!!
Do you know anything on TAT? has been on channel, but dropped below this last week.
mostly cash now... while the Greeks are "safe" this week- not sure what effect activating the CDSs will have ? sort of a market top has been reached?- so watching and waiting....
Also don't know much about NBI-- but Cano's debt could be used to some advantage to offset other gains... Just too complex for me right now... so holding a few until April 2nd...
yeah but debt for CANOQ is $90 million, no even close for common shareholders to get any money.
Like I said, EOR has .16 in cash....SP is .17-.18. 2 of the 3 oilfields are valued at 66.6 million, production is 360 bopd, they were cashflow postive a few qtr back. DEBT FREE!
Permits for 5 wells, 3 to be drilled as soon as they can.
Only holding a few .07s, and picked up some .02s on the bad news... If previous estimates were $110M, and stalking is only $47M- perhaps other bids? Have to see what ruling is on settlement... so holding a few...
Also, highly unlikely, but commons are not always wiped out with ch 11- Look back at PEIX- they when thru ch 11 process and kept commons intact. Those that held did ok .... But highly unlikely here as L and H don't hold any shares, and didn't buy any as insiders....
Alpha, you looking at EOR.v now that CANOQ has died out?
Time to move on to the one with cash....
EOR.V has assets in the same area....has $25.5 million and no debt, per the latest N/R.
HOUSTON, Feb. 15, 2012 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR) is pleased to provide the following update regarding the Company's proposed activity for 2012.
During the previous year the Company focused its efforts on several fronts, including the monetization of the St John helium/ CO2 field, the planning for, design of, and the purchase of right of way options for the previously announced CO2 pipeline connecting the Company's oilfields in Chavez and Roosevelt Counties and the preparation for the commencement of our infill lateral program at Milnesand oil field. In addition, we spent considerable time and money working over and plugging and abandoning several wells in our Milnesand and Chaveroo fields to reduce the number of non-compliant wells in those fields. Our efforts resulted in an Agreed Compliance Order that will allow for the commencement of the infill drilling program we announced earlier that year.
As we begin 2012, the Company has never been in a stronger position with cash in the bank of approximately $25.5mm, zero debt and estimated proven oil reserves of approximately $60mm (internal unaudited, Dec 2011 reserve report in prep). With the developments of 2011 behind us, the Company's focus for 2012 is the accelerated development of the Company's oil reserves at the Milnesand, Chaveroo and Crossroads oilfields. Specifically, during 2012 the Company will focus on:
1. Adding production from existing wells at our Milnesand, Chaveroo, Crossroads and Texas oilfields.
2. Initiating our San Andres lateral infill program at Milnesand and potentially at Chaveroo.
3. Extending and exercising our pipeline right of way options for the Company's proposed 40 mile pipeline connection from Kinder Morgan CO2 Company LP's Cortez pipeline to the Company's Milnesand and Chaveroo oil fields.
4. Adding reserves at our Chaveroo field where we carry no reserves currently and continuing the improvements gained in its production performance demonstrated in 2011 and accelerating the significant compliance requirements in this 20,000 acre oil field.
5. Seeking acquisitions of strategic bolt-on oil weighted production near to our existing fields and other strategic opportunities with long life reserves
6. Market and industry exposure of Enhanced Oil Resources.
Production Enhancement
The acquisition of legacy oilfields comes with tremendous opportunity for reserves and production growth, yet at the same time, we have to deal with poor well bore and surface conditions left by prior operators. Last year alone, we spent considerable time, effort and finances working over approximately 60 well bores, bringing 38 wells back to production and plugging and abandoning 12 well bores. During 2012 we have allocated up to $1.7 mm to work over, reactivate and plug several wells across our fields, with a focus towards getting our Chaveroo field into compliance. While we do not expect significant production growth from these endeavors, we expect that our considerable effort to right the wrongs of previous operators will ultimately reward us, longer term, with the required approvals to expand our infill programs across our fields and CO2 flooding of both Milnesand and Chaveroo.
At our Crossroads field we recently announced the downhole failure at our 303 well bore. To date, attempts to retrieve the stuck sub-pump have not yet been successful. We have currently suspended activity on that well to review several options to bring that well back on, including modifying existing tools to fit over the pump, milling the pump entirely or sidetracking around the obstruction. In the meantime, on February 6th, we were successful in bringing the 105 wellbore back to production by temporarily transferring the production equipment from the 303 well and installing a new, high volume, submersible pump. Production from the 105 well has averaged approximately 80 barrels of oil per day (bopd) since being brought back on-line, however we anticipate that this flush production will decrease over time and level out around +/- 50 bopd. In addition, as part of our Agreed Compliance Order (ACO) we have initiated the conversion of the Crossroads 106 well to a new water injector well that will allow for greater water handling, currently limited at the 104 injector.
In Texas, we are commencing a long-standing workover plan that we expect, if successful, could improve production rates significantly. We will continue to review the results from these properties and determine if any further activity is then warranted.
Production volumes for January averaged approximately 300 bopd, similar to our December results. The reduction is principally related to the downtime associated with the Crossroads 303 well and weather related issues normal to this period. In addition, during the fourth quarter of 2011 very little workover activity was approved internally due to uncertainties with our then drilling obligations at our St. Johns Helium/ CO2 field. With that now resolved, and after allocating available funds to working capital, we can now resume our work over activity. Production for February, to date, has averaged approximately 360 bopd, principally because of the start up of the Crossroads 105 well. Additional activity is planned to get back to our pre 303 levels as soon as possible. Longer term, we expect that our production levels can increase substantially once our infill drilling activity at Milnesand and exploitation activity at Crossroads is initiated.
San Andres Infill Program
The Company has received all approvals to initiate our previously announced infill program at the 4,800 acre Milnesand San Andres Unit where prior development on 40 acre spacing is estimated to have recovered only 14% of the original oil in place. Many operators of similar San Andres fields elsewhere in the Permian Basin have had tremendous success and reserve growth by downspacing from 40 acres to 20 acres and we believe the same potential exists across our 25,000 acres of San Andres legacy oilfields. We have currently permitted 5 wells for infill drilling and intend to drill up to 2,000 ft of lateral pay section through the San Andres reservoir to maximize the amount of pay, and production, from these locations. We intend to drill 3 wells back to back and will then review the results, production trends and economics to determine the best means of moving forward. It is estimated that, if successful, we would have up to 30 additional laterals at Milnesand and, by analogy, up to 100 laterals in the Chaveroo field.
We are currently in line for services for the drilling rig, directional tools and other equipment and services required for this program and we hope to start our first well within the next 30 days. In addition, as part of our existing ACO at Milnesand we have contracted a plugging crew to complete the four well plugging commitment and expect that program to start towards the end of this month.
Cortez to Milnesand Pipeline
In April 2010, the Company announced a CO2 gas purchase contract with Kinder Morgan CO2 Company, L.P. providing for the delivery of certain volumes of CO2 from the Cortez pipeline interconnect to a proposed 40 mile, 8 inch diameter pipeline delivering to the Company's planned CO2 projects at Milnesand and Chaveroo. In connection with the sale of the St Johns asset to Kinder Morgan the Gas Purchase Agreement and Pipeline Connection Agreement were amended to provide for the extension of certain commitment dates.
The agreement in respect of the sale of the St. Johns Assets includes an amendment to the Gas Purchase Agreement which extended the Company's cancellation right date to a date on or before February 28, 2014, and extends the initial delivery date to September 1, 2015. In addition, the amendment eliminates the termination payment that would have been due prior to exercising the cancellation right date on or before February 28, 2014, and returned the $1.0 million letter of credit previously provided by the Company as security for the termination payment. The Cortez Connection Pipeline connection requirement was also modified by the Agreement. With this latest amendment, the Company achieved an extension to the required take-or-pay commitment date, thereby allowing an additional two years to conclude the Cortez Connection Pipeline approval process, purchase the required right-of-way and construct the Cortez to Milnesand pipeline.
The investigation and consultations with multiple regulators for the pipeline spur began in June of 2010 and has reached a point where the design has been completed and the path to be used has been identified. The pipeline, anticipated to be 8 inches in diameter and 40 miles long, requires approximately 9 months for construction following formal approvals. The Company has negotiated right of way purchase options for the planned path and is beginning to prepare the State and Federal permitting required for the commencement of construction. The balance of 2012 will be focused on regulatory requirements with any construction not being considered now until late 2014 or early 2015.
Acquisitions
We are considering and evaluating acquisitions of strategic assets near to our existing fields where considerable synergy exists or that include natural gas components that present medium-term potential for gas price recovery. Currently, the natural gas market is at a decade low as near term delivery of gas supply has reached an all time high, making gas reserve pricing relatively affordable on BTU basis. With cash in the bank and interest rates for producing properties at an all time low we believe acquisions to be a necessary part of our business plan for the next year.
Market and Industry Exposure
Following the sale of St Johns field the Company now has productive assets that are now relatively more quantifiable. Beginning February, with $25.5 million cash on hand and over $60 mm anticipated in proved reserves the Company has never been stronger. While many shareholders are disappointed with the outcome at St Johns the Company can now move forward and build on our oil and gas reserves in the near term and use those reserves to finance additional activity. We now have a multitude of opportunities to build a domestic oil and gas production company based on productive and marketable assets that can result in real growth in shareholder value.
We have mentioned in the past of our desire to list on a senior exchange. With our current asset base, a stronger balance sheet and a business plan balanced between reserve growth and expenditures to overcome the accelerated activity of regulators, we believe can move forward in these activities. Our application to apply for a senior exchange is nearing completion and we would expect to apply to be invited to a senior exchange listing in the next few months, either in the USA or Canada. In the meantime we intend to increase our Investor Relations program and get out and tell the story of the new Enhanced Oil Resources. While the Company is receiving some industry exposure, we will endeavor to increase market awareness by participating in road shows and conferences beginning in February at the NAPE conference in Houston. Additional conferences are planned and these will be announced in the near term.
The Company's President and CEO Mr. Barry Lasker states "Last year was a watershed year for the Company. We are no longer hamstrung by the long term carrying costs and commitments at St Johns and we can now move forward with an asset base that is tangible and with nearer term objectives. Our development program at Milnesand, Crossroads and Chaveroo can set the platform for reserves, production and shareholder growth for many years to come. Last year was a transitional year for the Company and 2012 offers tremendous growth opportunities. We are excited about the year ahead. As always, we thank the shareholders for their support and we look forward to reporting the progress toward these objectives as they develop."
About Enhanced Oil Resources Inc.
Enhanced Oil Resources Inc. is an early-stage company, with a principal goal of increasing crude oil and natural gas production through enhanced oil recovery ("EOR") and infill drilling projects it is initiating in the Permian Basin on oil fields acquired by the Company in 2007 and 2008 for that purpose.
Forward-Looking Statements
Certain statements contained herein are "forward-looking statements" and "forward-looking information" under applicable securities laws, including statements regarding beliefs, plans, expectations or intentions regarding the future relating to Enhanced Oil Resources Inc.'s operations, business prospects, expansion plans and strategies.
Forward-looking information typically contains statements with words such as "intends", "anticipate", "estimate", "expect", "potential", "could", "plan" or similar words suggesting future outcomes. Readers are cautioned not to place undue reliance on forward-looking statements because it is possible that expectations, predictions, forecasts, projections and other forms of forward-looking information will not be achieved. Forward-looking statements are based on the opinion and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Although Enhanced Oil Resources believes that the expectations reflected in such forward-looking statements are reasonable, Enhanced Oil Resources can give no assurance that such expectations will prove to be correct. Assumptions upon which such forward-looking statements are based include that the Company will be able to carry out its proposed activity for 2012, that the end of year reserve report will be completed and the estimated proven oil reserves confirmed, that there will be accelerated development of our oil reserves, that production may increase at from our oilfields will be added, that our infill program will commence be initiated as expected, that right of way options and permitting approvals for the Company's Cortez to Milnesand pipeline will be purchased exercised and received, and that the Company can find suitable acquisitions of a strategic nature to purchase, that application will be made for a senior exchange listing and that our investor relations program will be increased. Readers should refer to Enhanced Oil Resources' current filings, which are available at www.sedar.com, for a detailed discussion of these factors, risks and uncertainties. The forward-looking statements or information contained in this news release are made as of the date hereof and Enhanced Oil Resources undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws or regulatory policies.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry D Lasker, CEO
FieldPoint Petroleum Announces New Record Date for Warrant Dividend
2012-02-29 12:09 ET - News Release
AUSTIN, Texas, Feb. 29, 2012 /PRNewswire/ -- FieldPoint Petroleum Corporation (AMEX:FPP) announced today that its Board of Directors has set a new record date for its previously announced warrant dividend to shareholders. The new record date will be at the close of business on March 23, 2012 (the "Record Date").
In a press release dated January 12, 2012, the Company announced that the prior record date was rescinded to allow for time to resolve certain regulatory issues.
The Warrant shall grant the holder the right to purchase one additional share of Common Stock for each share held on the Record Date, for a period of six years, at an exercise price of $4.00 per share. The Warrant will be distributed as soon as practicable after the Record Date. We currently expect the dividend will be paid on March 26, 2012 and that the common stock will trade ex-dividend beginning March 28, 2012. The Company will provide an update if these target dates are modified.
Following the distribution of the Warrant, the Company will file a Registration Statement on Form S-3 registering the shares of Common Stock issuable upon exercise of the Warrants (the "Registration Statement"). The Warrants will not be exercisable until the Registration Statement is declared effective by the SEC.
Also, the Company is applying to have the Warrants approved to list and trade on the NYSE-AMEX exchange separately from the Common Stock.
FieldPoint President and CEO Ray D. Reaves said, "I am extremely pleased that we have found a way to reward our loyal shareholders in a manner that allows them to further share in the future successes of FieldPoint without having to make a financial commitment today."
More Details Regarding the Warrant:
The dividend will consist of one (1) newly authorized Common Stock Purchase Warrant (the "Warrant") to be distributed for every one (1) share of the Company's Common Stock owned as of the Record Date. The Company has the right to call the Warrant for redemption in the future under certain circumstances, including the requirement that the market price of the Common Stock equal or exceed 150% of the exercise price of the Warrant ($6.00). If the Company exercises such a redemption right, holders of the Warrant will have 30 days to exercise the Warrants. Holders would be under no obligation to exercise the Warrants but would surrender them if they choose not to do so.
FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming. For more information, please visit www.fppcorp.com.
This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and gas prices and unexpected decreases in oil and gas production is included in the company's periodic reports filed with the Securities and Exchange Commission (at www.sec.gov).
SOURCE FieldPoint Petroleum Corporation
ROAOF (BWD.V)- Bowood News out! .23
2 tickers for stock. Trade using American ticker ROAOF, Chart using Canadian ticker BWD
Bowood Announces Review of Strategic Alternatives
CALGARY, ALBERTA--(Marketwire - Feb. 27, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Bowood Energy Inc. ("Bowood" or the "Company") (TSX VENTURE:BWD) announces that its Board of Directors has determined to evaluate a range of strategic alternatives aimed at enhancing shareholder value. In addition, Bowood has engaged GMP Securities L.P. ("GMP") to advise the Board of Directors with respect thereto.
Strategic alternatives may include, among other alternatives: a sale of the shares of the Company, either in one transaction or in a combination of transactions; a merger, recapitalization, arrangement, amalgamation or any combination thereof; or a sale of a material portion of the assets of the Company.
The Company cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is undertaken, as to its terms or timing. The Company has not set a definitive schedule to complete its evaluation and does not intend to disclose developments with respect to this process unless and until the evaluation has been completed or a definitive agreement has been reached, unless otherwise determined or required by law.
For additional information please email requests to bowoodenergy@gmpsecurities.com.
Have picked up CANO.PK at .07 or so, more if it dips to 5 or 6 cents- MMs shake it down prior to sale announcement if it does occur..
Did same with AXST last year- AFT got delisted from AMEX to become AXST.PK- stagnated for almost a year at 6- 8 cents- then jumped to 42 cents recently-
so its a good time to be buying real estate? some with houses and some with underground reserves..
Look at HOV and homebuilders .. major rise since november...
What's your take on TAT and DEJ?
alfa, more to the EOR.V release
"Acquisitions
Enhanced Oil is considering and evaluating acquisitions of strategic assets near to the company's existing fields where considerable synergy exists or that include natural gas components that present medium-term potential for gas price recovery. Currently, the natural gas market is at a decade low as near-term delivery of gas supply has reached an all-time high, making gas reserve pricing relatively affordable on British-thermal-unit basis. With cash in the bank and interest rates for producing properties at an all-time low, the company believes acquisitions to be a necessary part of its business plan for the next year.
They are sitting on $25.5 million in cash and no debt.
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