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Besides I just bought a new Crystal Ball, just like the ones
that Farmers Almanac uses.
I wondered if anyone was following that. Now, why did I say
that. Mainly because Iran want's what they want and GWB is
determined to have his legacy be that he solved the Middle East
crisis.
Next, the USA is going through gasoline like it is going out
of style. Check the actual gasoline numbers in the EIA report. Not
the amount of blending components, just the gasoline. Go to the
following link, http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html, then click on the txt link
under special files. Scroll down to petroleum stocks then look at
total motor gasoline, reformulated and conventional. Be sure to
notice how much less there is now vs. last year at this time.
About 2% less and 35% less, in that order, than last year is the way I see it.
The only thing increasing is the blending components, we can't
burn blending components in the vehicle.
I predict oil will go to $94.00 a barrel before the end of April.
Atlantic hurricane season to be unusually active this year
Posted on : Tue, 04 Apr 2006 20:12:00 GMT | Author : Paula Cussons
News Category : Environment
MIAMI - Colorado State University meteorologists have predicted an unusually active hurricane season this year although the report reassures that there would be no repeat of last year's Hurricane Katrina, which devastated the Gulf Coast and razed New Orleans to ground.
The report prepared by Philip Klotzbach and William Gray, says that there would be 17 named storms, 9 hurricanes and 5 intense hurricanes graded as Category 3 storms this years in the season, which stretches from June to November.
"The hurricane forecast team expects continued warm tropical and north Atlantic sea-surface temperatures, prevalent in most years since 1995, as well as neutral or weak La Nina conditions -- a recipe for greatly enhanced Atlantic basin hurricane activity," the Tropical Meteorology Project report said. This report has become one of the most highly regarded ones as its predictions are usually true within 10 percent of the total hurricane season.
Last year there were 27 named storms, 15 hurricanes, and seven intense hurricanes and the scientists felt that it was unlikely to be as intense this year. "Historical records and the law of averages indicate the probability of seeing two consecutive years like 2004 and 2005 is very low," Klotzbach said.
Last year's hurricane season was one of the costliest to hit the economy as the damage caused by Katrina alone is estimated to be $80 billion. Gray's team will update their forecast on May 31, August 3, September 1 and October 3. Most companies place great belief in Gray's predictions, but the fact that the updates seem to change as the season progresses somewhat reduces their value.
http://www.earthtimes.org/articles/show/6003.html
Shareholder Update Notes:::
These are my notes from the interview with the president of BDGR:
-Buying stripper wells
-Location in Pine island uplift area Oil City, LA.
-1,084 shallow wells currently own.
-40 wells being brought online per month.
-300 wells in current prodution.
-BDGR shows profit $250,000 a month in revenue.
-2 to 5 new wells to be drilled a month starting in March.
-Produce 30,000 barrels per month by end of 2006.
-Sufficient cash to continue operations.
-Drilling/operating out of cash flow.
-Debt: $4 million long term.
***Why investors should own at $0.60 range:
-Stock undervalued.
-Oil production at 30,000 barrels a month = $1,200,000 a month in cash flow.
-Outstanding shares currently 25-26 million.
-Float: 7.5 million free trading shares.
-Earn $0.25 a share in 2006... better in 2007.
-Can make profit on these wells even at $35 a barrel.
-Less than 10% in cost in getting the wells into production.
LINK TO INTERVIEW::: http://www.runonideas.com/execUpdate.asp?symbol=BDGR&id=02152006
Crude oil chart
more here:
http://cmd-chart.blogspot.com/
BDGR: Black Dragon Completes Purchase of Caddo Lakes Mineral Rights; To Add Over $100,000 a Month in Cash Flow
2/6/2006 8:30:02 AM
AUSTIN, Texas, Feb 06, 2006 (BUSINESS WIRE) -- Black Dragon Resource Companies, Inc. (BDGR), announced today that it completed the acquisition of the oil and gas mineral interest for 8,000 acres lying beneath the lake bed of Caddo Lake (the area known as Ferry Lake) in Caddo Parish, Louisiana from Gemini Exploration of Shreveport. Twelve wells are currently in production, and will immediately add to the Company's production and profitability. The acquisition increases the number of wells that the Company currently has an ownership interest in to 1,087.
The acquisition adds 2,000 barrels per month of oil production to Black Dragon and approximately 300 mcf of natural gas per day, and in excess of $100,000 per month to cash flow. The Department of Energy attributes over 2 billion barrels of oil in place to this acreage.
Black Dragon will immediately begin a drilling program on the acreage to exploit the Paluxy Sands (2300 feet below the surface) and shallower proven production zones. Initially two new wells per month will be drilled in areas previously proven but not exploited by Gulf Exploration. Gemini Exploration, with over 35 years experience in the field, will continue as the operator and drilling contractor for these new wells.
Black Dragon will continue the redevelopment of its Pine Island Anocha Chalk wells at current rates and intends on increasing producing wells from 300 to 800 this year.
The acquisition was purchased for $3.2 million, which was a combination of cash and notes. The management of Gemini Exploration includes Eugene Ducharme and Jim Vesselly, both long term veterans of the off-shore oil production business with over 50 years experience.
"This acquisition positions the company for strong growth in 2006," said Rick Michael, Black Dragon's President. "Our total production should exceed 1,000 barrels per day by the end of 2006."
Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana regions.
About Black Dragon:
Black Dragon Resource Companies, Inc. is an oil and gas production company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reducing costs, and provides immediate generation of income in a niche market where larger independent and major oil companies are not positioned to compete.
Forward-Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE: Black Dragon Resource Companies, Inc.
Dragon Resource Companies, Inc.
Rick Michael, 512-442-4151
www.black-dragonoil.com
or
Strategic Growth International, Inc.
Stan Altschuler, 212-838-1444
Saltschuler@sgi-ir.com
or
Richard E. Cooper, 212-838-1444
RCooper@sgi-ir.com
Copyright Business Wire 2006
I use Rigzone it has news on the oil & gas industry. I also pickup news from the Yahoo web site, that has about six or seven news services
Here's an article about dwindling petroleum reserves:
http://www.etopiamedia.net/emenn/pages/oil/oil1.html
It's on the Oil World(tm) (http://www.etopiamedia.net/emenn/pages/oil/oil0.html/) page of the Etopia Media Energy News Network(tm) (http://www.etopiamedia.net/emenn/pages/emenn0.html/) web site.
Down again today. See: http://www.investorshub.com/boards/read_msg.asp?message_id=2681563
Investorshub is a poor substitute. I miss the Boom Boom Room.
SI down so no one to discuss energy with!
Also, most oil/gas stocks are down today, but Talisman (TLM) is up and so is Royale (ROYL). Anyone following these? ROYL in particular has been making a move over the last week; see the Yahoo message boards.
I can't remember who the Arthur was but if you are interested in options, I recommend reading a book called LEAPS. It is about leaps, but the plays can be applied to shorter termed options.
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