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Yesterdays after hours "4" trades:
4 3.1191 2400 NDD 16:15:02
4 3.0356 300 NDD 16:14:10
4 3.0356 600 NDD 16:14:04
4 3.0356 400 NDD 16:13:45
4 3.0356 200 NDD 16:13:45
4 3.0356 100 NDD 16:13:30
4 3.0356 400 NDD 16:13:16
4 3.033 100 NDD 16:13:09
4 3.0356 100 NDD 16:12:59
4 3.0356 500 NDD 16:12:57
4 3.0356 200 NDD 16:12:50
4 3.0356 300 NDD 16:12:49
4 3.0356 600 NDD 16:12:49
4 3.0356 900 NDD 16:12:42
4 3.0356 1300 NDD 16:12:38
4 3.0356 100 NDD 16:12:33
Donna Lucas on www.lucaspublicaffairs.com
"Donna is the founder and principal of Lucas Public Affairs. One of the nation’s foremost public affairs strategists, Donna is a widely recognized expert in media relations and political affairs and has provided strategic counsel to large corporate clients, labor unions, non-profits, initiative campaigns and political candidates.
Donna began Lucas Public Affairs in 2006 after serving as deputy chief of staff for strategic planning and initiatives for Gov. Schwarzenegger and chief of staff to First Lady Maria Shriver. She was the global public affairs practice leader for Porter Novelli, an international PR firm, after Porter Novelli acquired Nelson Communications Group, where she served as CEO and president for many years.
Lucas served previously as deputy press secretary for Governor George Deukmejian, deputy treasurer for Tom Hayes, and as California press secretary for President George H.W. Bush. She was the chairperson of the American Association of Political Consultants and a member of the California Chamber of Commerce board of directors. Lucas currently serves on the board of the Public Policy Institute of California, the Governor and First Lady’s Conference on Women and California Forward.
In August 2008 Donna was named one of Sacramento Magazine’s “100 Most Powerful and Influential” people in the Sacramento region. A 1982 graduate of the University Of Southern California School Of Journalism, Donna and her husband, political saturist and former Bureau Chief of the San Francisco Chronicle, Greg Lucas, live in Sacramento with their teenage daughter, Katie."
NEWS - Venoco, Inc. Schedules Annual Meeting
DENVER, Feb 03, 2009 /PRNewswire-FirstCall via COMTEX/ -- Venoco, Inc. (NYSE: VQ) announced that its Annual Stockholders' Meeting will be held on May 20, 2009.
The meeting will be held at 7:30 a.m. Mountain Time on Wednesday, May 20, 2009, at the Brown Palace Hotel, 321 17th Street, Denver, Colorado. Stockholders of record at the close of business on Wednesday, April 1, 2009, are entitled to receive notice of the meeting and to vote the shares of Venoco common stock they hold as of that date.
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates fifteen fields in Texas.
http://www.venocoinc.com
SOURCE Venoco, Inc.
http://www.venocoinc.com
Great news yesterday and nice job on the IBOX. Company made a huge improvement to their cash flow and debt with the sale! Now we know WHY the CEO has been buying up shares!! This stock is headed back up to $15.00 range over the next year!! 500% gain from this level ain't too bad for a one year investment!
NEWS - Venoco, Inc. Closes Hastings Sale
- $201 Million ~ approximately $80K/daily barrel
- Resets Balance Sheet with Proceeds
DENVER, Feb. 2 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) announced today that it has completed the sale of its Hastings Complex to Denbury Resources (NYSE: DNR) for aggregate proceeds of $201 million.
"We are quite pleased to complete this sale and the opportunity it affords us to reset our balance sheet," said Tim Marquez, Chairman and CEO. "Completion of this transaction will allow us to reduce our net debt by $200 million to approximately $600 million."
The aggregate purchase price of $201 million includes approximately $4.9 million for the sale of certain surface land, oilfield equipment and other assets, scheduled to close later. Venoco retains a 2% override and a reversionary interest of approximately 25% following payout, as defined in the option agreement. Production from the Hastings Complex averaged approximately 2,500 barrels of oil equivalent per day (BOE/d) during 2008, net to the interest sold, with conventional proven reserves of approximately 7.7 million barrels of oil equivalent (MMBOE) using year-end 2008 SEC prices. The company's year-end 2007 reserves for the Hastings Complex were 14.4 MMBOE. Under terms of the option agreement, Denbury is obligated to take certain actions to complete a carbon dioxide (CO2) flood of the Hastings Complex. However, Denbury has indicated that it does not plan to commence the CO2 flood until 2011, after completion of its Green (CO2) pipeline currently under construction. Venoco does not currently have any reserves booked to the CO2 flood or its reversionary interest.
The company's net debt after the sale consists of a $495 million Second Lien Term Loan facility (due September 2011), $150 million of 8 3/4% bonds (due December 2011), $15 million in deferred derivative premiums and cash of approximately $50 million. In connection with the sale of the Hastings Complex, Venoco requested a re-determination of the borrowing base under its Revolving Credit facility. As a result, the borrowing base under the company's Revolving Credit facility was reduced to $125 million and the company will have nothing drawn on the facility.
"As a result of the sale of the Hastings Complex, we are well positioned from a liquidity perspective to face the challenging credit environment. Our resulting liquidity, along with our robust 2009 hedging program, which covers 100% of our production guidance, should allow us to fund our 2009 capital expenditures without having to draw down on the revolver," explained Tim Ficker, Venoco's CFO.
The company also announced that due to low commodity prices at year-end 2008, it expects to record a non-cash "ceiling test" write down of at least $500 million. The ultimate amount of the write down will not be known until the completion of the company's year-end 2008 reserve report.
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates fifteen fields in Texas.
Forward-looking Statements
Statements made in this news release relating to Venoco's future liquidity and need to borrow amounts under its revolving credit, the anticipated "ceiling test" write down, and all other statements except statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the company's future performance are both subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in oil and gas prices, the timing and results of drilling and other development activities, the availability and cost of obtaining drilling equipment and technical personnel, risks associated with the availability of acceptable transportation arrangements and the possibility of unanticipated operational problems, delays in completing production, treatment and transportation facilities, higher than expected production costs and other expenses, and pipeline curtailments by third parties. All forward-looking statements are made only as of the date hereof and the company undertakes no obligation to update any such statement. Further information on risks and uncertainties that may affect the Company's operations and financial performance, and the forward-looking statements made herein, is available in the company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.
http://www.venocoinc.com
SOURCE Venoco, Inc.
CONTACT: Mike Edwards, Vice President of Venoco, Inc., +1-303-626-8320
investor@venocoinc.com
/Web Site: http://www.venocoinc.com
NEWS - Venoco, Inc. Appoints Lucas to Board of Directors
DENVER, Feb. 2 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) announced today that Donna Lucas has been appointed to its board of directors and to the board's corporate governance committee. Ms. Lucas is the founder, CEO and President of Lucas Public Affairs based in Sacramento, California.
"We are pleased to welcome Donna to our board of directors," Tim Marquez, Chairman and CEO of Venoco said. "She brings a wealth of experience in California public affairs along with her business acumen."
Ms. Lucas began Lucas Public Affairs in 2006 after serving as deputy chief of staff for strategic planning and initiatives for California Governor Schwarzenegger and as chief of staff to First Lady Shriver. Prior to that, she was global public affairs leader for Porter Novelli, an international PR firm, after Porter Novelli acquired Nelson Communications Group, where Ms. Lucas served as CEO and president for many years.
"I am very excited about joining Venoco's board and contributing to this dynamic energy company," said Ms. Lucas. "The energy challenges facing the country and California create unique partnership opportunities for Venoco, to which I bring diverse experience."
Ms. Lucas graduated from the University of Southern California, School of Journalism and previously served as deputy press secretary for Governor Deukmejian, and as California press secretary for President George H.W. Bush. She currently serves on the board of the Public Policy Institute of California and on the Governor and First Lady's Conference on Women.
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates fifteen fields in Texas.
http://www.venocoinc.com
SOURCE Venoco, Inc.
CONTACT: Mike Edwards
Vice President of Venoco, Inc.
+1-303-626-8320
investor@venocoinc.com
Web Site: http://www.venocoinc.com /
Nice day, good volume, we´re moving up
Insider buying has been happening every day! Great news on the conference also!! Always buy companies where the insiders are buying their own company off the market!! You are now an assitant MOD, get the IBOX going with all the great information!
VQ Yesterdays last trades, again (4) & (f) types !!!
Insider buying continues...
t 2.97 1717 NDD 16:29:58
t 2.9831 350 NDD 16:18:45
4 2.9489 100 NDD 16:14:11
4 2.9489 100 NDD 16:14:04
4 2.9489 100 NDD 16:13:49
4 2.9489 100 NDD 16:13:43
4 2.9489 200 NDD 16:13:27
4 2.9489 500 NDD 16:13:26
4 2.9489 300 NDD 16:13:24
4 2.9489 1000 NDD 16:13:16
4 2.9489 200 NDD 16:13:11
4 2.9489 300 NDD 16:13:11
4 2.9489 600 NDD 16:13:05
4 2.9458 100 NDD 16:12:57
4 2.9489 100 NDD 16:12:54
4 2.9458 100 NDD 16:12:33
4 2.9489 100 NDD 16:12:29
4 2.9493 3000 NDD 16:11:18
2.97 8600 NYE 16:05:46
2.97 600 NYE 16:05:43
2.97 100 NDD 16:00:00
2.94 153 NDD 15:59:37
2.94 100 NYE 15:59:33
f 2.95 100 NYE 15:59:27
2.95 200 NYE 15:59:22
f 2.95 100 NDD 15:59:21
2.95 464 NYE 15:59:21
2.96 600 NYE 15:59:21
2.96 100 NLS 15:59:21
2.96 100 NLS 15:59:21
NEWS !!! Venoco, Inc. CEO to Speak at Conference
DENVER, Jan. 30 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) announced today that Tim Marquez, Chairman and CEO, will be speaking at the Credit Suisse 2009 Energy Summit on Wednesday, February 4, 2009 beginning at 1:15 p.m. Eastern time.
The presentation will be available after market-close on Monday, February 2nd via the Investor Relations page of the company's website, www.venocoinc.com.
The presentation will be webcast live and the link with be available on the company's website.
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates eighteen fields in Texas.
SOURCE Venoco, Inc.
-0- 01/30/2009
/CONTACT: Mike Edwards, Vice President of Venoco, Inc., +1-303-626-8320,
investor@venocoinc.com/
/Web Site: http://www.venocoinc.com /
(VQ)
CO: Venoco, Inc.; Credit Suisse 2009 Energy Summit
ST: Colorado
IN: OIL GAS
SU: CCA TDS
PR
-- LA65191 --
8341 01/30/2009 18:38 EST http://www.prnewswire.com
The CEO continues to buy stock off the open market!! Amazing!! He must own the entire float by now!! The future looks very good when Oil and Gas prices start to rise, which we all know will happen as soon as we start getting close to summer!! That is when the oil companies really start to screw over the drivers!! I always like it when institutionals and insiders buy up most of the company stock, I will just find a corner and watch while holding my little piece of the rock!
Check this out. Never seen these types of trades before:
http://ih.advfn.com/p.php?pid=trades&cb=1233319592&symbol=NY%5EVQ
Another form 4 filed, insider buying continues...
http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec
I mean the "f" trades and the "4" (4,000) trades
f = intermarket sweep, 4 = insider buying again?
t 2.87 1137 NDD 16:44:02
4 2.9334 200 NDD 16:14:33
4 2.9334 100 NDD 16:14:33
4 2.9334 100 NDD 16:14:26
4 2.9334 100 NDD 16:13:50
4 2.9334 400 NDD 16:13:46
4 2.9334 100 NDD 16:13:43
4 2.9334 200 NDD 16:13:35
4 2.9334 100 NDD 16:13:29
4 2.9334 100 NDD 16:13:22
4 2.9334 800 NDD 16:13:22
4 2.9334 1200 NDD 16:13:07
4 2.9334 600 NDD 16:12:58
2.87 2900 NYE 16:03:48
f 2.88 112 NLS 15:59:57
f 2.90 100 NLS 15:59:35
f 2.88 100 NLS 15:59:32
f 2.90 100 NYE 15:59:23
f 2.90 100 NYE 15:59:23
f 2.90 100 NYE 15:59:23
f 2.90 100 NLS 15:59:23
f 2.88 100 NLS 15:59:19
f 2.89 400 NYE 15:59:16
f 2.89 100 NYE 15:59:16
f 2.90 100 NYE 15:59:16
f 2.90 200 NYE 15:59:16
f 2.89 100 NYE 15:59:15
2.90 100 NYE 15:59:02
2.90 100 NYE 15:59:00
2.90 200 NYE 15:58:56
There is a gap at 2.68 that might fill.
You mean the AH ones?
Take a look at the sales, don´t know what to make of that..?
VQ chart by "Blue Horseshoe":
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35176078
Agree, absolutly...
You won't know what they have recently covered until the next report. Looks like they have been covering since July when there was almost 2M short. Also, these SHO reports do not cover any NSS which are almost always present on a stock that has been shorted.
They may have covered all or a good bit of that the other day when the vol spiked:
2009/01/27 2.50 2.66 2.48 2.63 1,858,432 2.63
Maybe this link will help you:
http://shortsqueeze.com/?symbol=vq
They have no SHO history according to PS. Even w/o any short position here this is a buy and/or hold.
What we need now is some meat and buying pressure IMO
Well these numbers along with the recent insider buying certainly shows the entire float is now controlled by the institutional investors and the company themselves. What is on the street is nothing!! Looks like the shorts are in trouble!!
VQ Major Holders
BREAKDOWN
% of Shares Held by All Insider and 5% Owners: 65%
% of Shares Held by Institutional & Mutual Fund Owners: 35%
% of Float Held by Institutional & Mutual Fund Owners: 98%
Number of Institutions Holding Shares: 78
MAJOR DIRECT HOLDERS (FORMS 3 & 4)
Holder Shares Reported
MARQUEZ TIMOTHY 365,773 26-Jan-09
FICKER TIMOTHY A 31,768 4-Dec-08
REED JOEL L 17,000 25-Feb-08
MCFARLAND J C 17,000 20-Nov-08
WALKER RICHARD S 12,000 22-Dec-08
TOP INSTITUTIONAL HOLDERS
Holder Shares % Out Value* Reported
MORGAN STANLEY 3,448,944 6.69 $44,836,272 30-Sep-08
BlackRock Advisors, LLC 2,491,155 4.83 $32,385,015 30-Sep-08
WENTWORTH, HAUSER AND VIOLICH 1,896,926 3.68 $24,660,038 30-Sep-08
FMR LLC 1,746,135 3.39 $22,699,755 30-Sep-08
WELLINGTON MANAGEMENT COMPANY, LLP 5,709,150 11.08 $74,218,950 30-Sep-08
KENNEDY CAPITAL MANAGEMENT, INC. 805,450 1.56 $10,470,850 30-Sep-08
WELLS FARGO & COMPANY 784,300 1.52 $10,195,900 30-Sep-08
Barclays Global Investors UK Holdings Ltd 708,382 1.37 $9,208,966 30-Sep-08
CARDINAL CAPITAL MANAGEMENT LLC 664,100 1.29 $8,633,300 30-Sep-08
VANGUARD GROUP, INC. (THE) 600,653 1.17 $7,808,489 30-Sep-08
TOP MUTUAL FUND HOLDERS
Holder Shares % Out Value* Reported
FIDELITY SELECT PORTFOLIOS - NATURAL GAS PORTFOLIO 1,635,695 3.17 $5,463,221 30-Nov-08
MASTER VALUE OPPORTUNITIES LLC 964,700 1.87 $12,541,100 30-Sep-08
BLACKROCK FUNDS-SMALL CAP GROWTH EQUITY PORTFOLIO 808,857 1.57 $10,515,141 30-Sep-08
AIM SMALL CAP EQUITY FUND 246,100 .48 $3,199,300 30-Sep-08
Wells Fargo Advantage Small Cap Growth Fd 241,900 .47 $807,946 30-Nov-08
ISHARES RUSSELL 2000 INDEX FD 240,063 .47 $1,015,466 31-Oct-08
Blackrock Master Tr-Blackrock Master Small Cap Growth Port 234,280 .45 $3,949,960 31-Aug-08
LOOMIS SAYLES SMALL CAP VALUE FUND 224,274 .44 $2,915,562 30-Sep-08
VANGUARD SMALL-CAP INDEX FUND 202,270 .39 $2,629,510 30-Sep-08
Blackrock Var Ser Fd-Blackrock Value Opportunities V.I. Fd 178,700 .35 $2,323,100 30-Sep-08
EnerCom, Inc. Announces Presenting Companies for The Oil & Services Conference(TM) VII February 18-19, 2009
DENVER, Jan. 27 /PRNewswire/ -- EnerCom, Inc. announced today the lineup of presenters for The Oil & Services Conference(TM) VII. The Conference, to be held at the City Club of San Francisco February 18-19, 2009, is an exclusive opportunity for institutional, private equity and high net worth investors, energy research analysts, investment advisors, and industry executives to meet with company representatives and discuss topics relating to the energy outlook for 2009. Top executives from leading oilservice and exploration and production companies will present their corporate expectations for the upcoming year, and several analysts will offer their insight on the future of the industry. Attendees can register to attend this Conference at
http://www.theoilandservicesconference.com/index.html
EnerCom, Inc. founded this Conference in 2002. Calyon Corporate Investment Bank and NYSE Euronext are sponsors of this event. This year's confirmed line-up for The Oil & Services Conference(TM) VII:
Wednesday, February 18 through Thursday, February 19, 2009
ATP Oil & Gas (Nasdaq: ATPG) - offshore oil and gas development and production company operating in the Gulf of Mexico and the North Sea
Baker Hughes Incorporated (NYSE: BHI) - provides reservoir consulting, drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry
CARBO Ceramics Inc. (NYSE: CRR) - the world's leading manufacturer of ceramic proppants and supplier of fracture diagnostic services for use in the hydraulic fracturing of natural gas and oil wells
Caspian Services, Inc (OTC Bulletin Board: CSSV) - provides geophysical and seismic data acquisition and interpretation services in the Caspian Sea
Cimarex Energy Co. (NYSE: XEC) - an independent oil and gas exploration and production company with principal operations in the Mid-Continent, Permian Basin and Gulf Coast areas of the U.S.
Continental Resources, Inc. (NYSE: CLR) - a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States
Core Laboratories (NYSE: CLB) - reservoir description, production enhancement and reservoir management
Dawson Geophysical (Nasdaq: DWSN) - America's leading provider of onshore seismic data acquisition and processing services
Endeavour International Corporation (NYSE Alternext: END) - an oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea
Energy XXI (Nasdaq: EXXI) - an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program
Gastem Inc. (CDNX: GMR.V) - holds exploration and storage rights to 3,135 km2 of land in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York and West Virginia
Geokinetics (NYSE Alternext: GOK) - a leading global provider of seismic acquisition and high-end seismic data processing services to the oil and gas industry
GMX Resources Inc. (Nasdaq: GMXR) - a 'Pure Play', E & P company that has significant Haynesville / Bossier Shale acreage in East Texas and North Louisiana
Goodrich Petroleum Corporation (NYSE: GDP) - an independent oil and gas exploration and production company with the majority of its properties in Louisiana and Texas
InterOil Corporation (NYSE Alternext: IOC) - developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region
Key Energy Services (NYSE: KEG) - provides oilfield services including well servicing, pressure pumping, fishing and rental tools, electric wireline and other oilfield services and is the world's largest rig-based well service company
NATCO Group Inc. (NYSE: NTG) - a leading provider of process equipment, systems and services used in the production of oil and gas
Petroleo Brasileiro S.A. - PETROBRAS (NYSE: PBR) - an integrated company that performs in oil and oil byproduct exploration, production, refining, marketing, and transportation, both in Brazil and abroad
Petroleum Development Corporation (Nasdaq: PETD) - an independent energy company engaged in the development, production and marketing of natural gas and oil, with operations focused in the Rocky Mountains and additional operations in the Appalachian Basin and Michigan
Superior Well Services, Inc. (Nasdaq: SWSI) - an oilfield services company operating in many of the major oil and natural gas producing regions of the United States
TransAtlantic Petroleum Corporation (TSX: TNP) - engaged in the exploration and development of crude oil and natural gas properties in Morocco, Turkey and Romania
TXCO Resources (Nasdaq: TXCO) - independent oil and gas exploration and production company that uses advanced drilling technologies and geological modeling to extract hydrocarbons from its large resource base in south Texas
Unit Corporation (NYSE: UNT) - the fourth largest U.S. premium contract land driller and a fast growing exploration and production company
Venoco Inc. (NYSE: VQ) - an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties offshore and onshore California and in Texas
Whiting Petroleum (NYSE: WLL) - independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States
Analyst presentations:
J. Marshall Adkins, Managing Director and Head of Energy Research, Raymond James and Associates, Inc.
Thomas A. Petrie, Vice-Chairman, Merrill Lynch
Roger Read, Senior Analyst, Oil Services, Natixis Bleichroeder Inc.
Waqar Syed, Vice President & Director Institutional Research, Tristone Capital Inc.
Mark Urness, Managing Director, Head of Energy Research, Calyon Securities (USA), Inc.
Dave Wilson, Senior Analyst, Research, Howard Weil Incorporated
About EnerCom, Inc.
Founded in 1994, EnerCom, Inc. is a nationally recognized investor communications consultancy firm advising and serving energy-centric clients on corporate strategy, investor relations, media and corporate communications, and visual communications design. The Company's professionals have more than 150 years of industry and business experience and a proven track record of success. Headquartered in Denver, EnerCom uses the team approach for delivering its wide range of services to public and private companies large and small, operating in the global exploration and production, drilling, oilservice, and associated advanced-technology industries. EnerCom measures its success from the realization of the increase of a client's shareholder value resulting from the development, implementation and execution of an integrated corporate communications plan.
For more information about EnerCom and its services, please call: Gregory B. Barnett, President, at 303-296-8834 or visit www.enercominc.com.
About Calyon Credit Agricole CIB
Calyon is the corporate and investment banking subsidiary of the Credit Agricole Group, France's largest bank and one of the world's largest with its over $1.8 trillion in assets. Calyon is AA-/Aa1 rated, and came into existence in April 2004 with the consolidation of Credit Agricole Indosuez and the corporate and investment banking division of Credit Lyonnais. Calyon ranks among the top ten foreign banks in the U.S. Headquartered in Paris, France, Calyon has offices in 58 countries with assets of approximately $400 billion. It is a global leader in structured financing, interest rate and credit derivatives, U.S., European and Asian equities, futures and foreign exchange, as well as syndicated lending and fixed income.
Specializing in this sector for over 100 years, Energy represents the single largest concentration of industry exposure at Calyon. Calyon focuses on all segments of the business and covers it on a truly global basis. The Bank's Energy practice for the U.S. is located in Houston, Texas. Calyon Securities (USA) Inc., an indirect subsidiary of Calyon, is a global full service institutional and self-clearing broker-dealer. It is a member of NYSE, NASD, and ISE as well as all major global clearing organizations.
For more information about Calyon, please contact Dennis Petito, Managing Director, Head of North American Energy, Calyon Credit Securities at 713-890-8601 or Mark Urness, Managing Director, Head of Energy Research, Calyon Securities, at 212-408-5683.
About NYSE Euronext
NYSE Euronext (NYSE: NYX) operates the world's leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; NYSE Liffe, the company's U.S. futures business and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options, futures and derivatives, ETFs, bonds, market data, and commercial technology solutions. As the world's largest exchange group by number of listings and market capitalization, NYSE Euronext is home to more than 6,500 listed issues (as of Oct. 1, 2008) with total global market capitalization more than four times that of any other exchange group. The average daily trading value of NYSE Euronext's equity exchanges represent more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index.
For more information about NYSE Euronext and its services, please call: Bruce Poignant, Managing Director, 212-656-5804
SOURCE EnerCom, Inc.
Venoco Reduces 2009 Capital Expenditures
- 2009 Production Guidance is Unchanged at 19,000 BOE/D
DENVER, Jan. 12 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE:VQ) today announced a further reduction to its capital expenditure plans for 2009 to $150 million dollars; however, 2009 production guidance remains at 19,000 barrels of oil equivalent per day (BOE/d) The company also announced that it has restructured its hedging arrangements to secure floors on 100% of 2009 forecast production, and floors on over 80% of 2010 anticipated production volumes.
"We have been successful in locking in new floors covering 100% of our 2009 forecast production. Our new weighted average floor prices for 2009 forecast production is $54.06 per barrel and $6.92 per Mcf," said Tim Marquez, Chairman and CEO.
"On the Hastings sale to Denbury, we were pleased with the year-end bump in prices, but are still waiting on the final reserve report to calculate the sale price," Mr. Marquez continued. "We still have the option to take a volumetric production payment, but barring any sudden changes in the commodities and financial markets, we anticipate taking a cash payment to enhance our liquidity."
The sale is scheduled to close on February 2, 2009. After the sale, Venoco will retain a 2% overriding royalty interest in the Hastings Complex and will back in to a 22.3% working interest once Denbury reaches payout from its investment in a CO2 flood of the complex. The potential net reserves to Venoco from the CO2 flood and back-in working interest are estimated to be 15 to 30 million barrels.
The sale of the Hastings Complex is expected to reduce the company's net debt by more than $150 million. "We are approaching this year with caution regarding the financial markets and are committed to managing our operating costs and capital expenditures to maintain our flexibility," said Tim Ficker, CFO. "The floors we added give us a great deal of assurance that we will have operating cash flow to sustain an active drilling program in the coming years without having to rely on the capital markets," Mr. Ficker noted.
The company's year-end 2007 reserves for Hastings were 14.4 million barrels of oil equivalent (BOE). Venoco's net production from Hastings for full-year 2008 is estimated to be 2,580 BOE/d.
The company's current debt includes $150 million of Senior Notes due in December 2011, a $500 million Term Loan due in September of 2011 (with the ability to extend the maturity to May 2014 in certain circumstances) and a Revolving Credit agreement due, unless refinanced, in March 2011.
About the Company
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates eighteen fields in Texas.
Forward-looking Statements
Statements made in this news release relating to Venoco's 2009 production, planned capital expenditures and development projects, and all other statements except statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the company's future performance are both subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in oil and gas prices, the timing and results of drilling and other development activities, the availability and cost of obtaining drilling equipment and technical personnel, risks associated with the availability of acceptable transportation arrangements and the possibility of unanticipated operational problems, delays in completing production, treatment and transportation facilities, higher than expected production costs and other expenses, and pipeline curtailments by third parties. All forward-looking statements are made only as of the date hereof and the company undertakes no obligation to update any such statement. Further information on risks and uncertainties that may affect the Company's operations and financial performance, and the forward-looking statements made herein, is available in the company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein. The SEC permits oil and gas companies to disclose in their filings with the SEC only proved reserves, which are reserve estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Estimates of unproved reserves which may potentially be recoverable through additional drilling or recovery techniques are by their nature more uncertain than estimates of proved reserves and accordingly are subject to substantially greater risk of not actually being realized by the Company.
http://www.venocoinc.com/
DATASOURCE: Venoco, Inc.
CONTACT: Mike Edwards, Vice President of Venoco, Inc., +1-303-626-8320,
Web Site: http://www.venocoinc.com/
VQ INSIDER BUYING (from Y! Finance):
INSIDER TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
26-Jan-09 MARQUEZ TIMOTHY
Officer 95,000 Indirect Automatic Purchase at $2.57 per share. $244,149
23-Jan-09 MARQUEZ TIMOTHY
Officer 93,000 Indirect Automatic Purchase at $2.53 per share. $235,290
22-Jan-09 MARQUEZ TIMOTHY
Officer 93,000 Indirect Automatic Purchase at $2.51 per share. $233,429
21-Jan-09 MARQUEZ TIMOTHY
Officer 93,000 Indirect Automatic Purchase at $2.52 per share. $234,360
20-Jan-09 MARQUEZ TIMOTHY
Officer 93,000 Indirect Automatic Purchase at $2.34 per share. $217,620
16-Jan-09 MARQUEZ TIMOTHY
Officer 33,200 Indirect Automatic Purchase at $2.65 per share. $87,980
15-Jan-09 MARQUEZ TIMOTHY
Officer 50,000 Indirect Automatic Purchase at $2.51 per share. $125,499
31-Dec-08 MARQUEZ TIMOTHY
Officer 80,000 Indirect Purchase at $2.47 - $2.8 per share. $211,0002
30-Dec-08 MARQUEZ TIMOTHY
Officer 17,980 Indirect Purchase at $2.20 - $2.38 per share. $41,0002
22-Dec-08 WALKER RICHARD S
Director 4,000 Direct Purchase at $2.49 per share. $9,960
8-Dec-08 MARQUEZ TIMOTHY
Officer 750,000 Indirect Purchase at $2.80 per share. $2,100,000
4-Dec-08 FICKER TIMOTHY A
Officer 3,500 Indirect Purchase at $2.55 - $2.65 per share. $9,0992
20-Nov-08 MCFARLAND J C
Director 2,500 Direct Purchase at $2.55 per share. $6,375
19-Nov-08 GRIGGS DOUGLAS J
Officer 3,000 Direct Purchase at $3.55 - $3.6 per share. $11,0002
12-Nov-08 MCFARLAND J C
Director 2,500 Direct Purchase at $3.85 per share. $9,625
10-Nov-08 FICKER TIMOTHY A
Officer 5,000 Direct Purchase at $4.93 - $4.97 per share. $25,0002
12-Aug-08 MCFARLAND J C
Director 2,000 Direct Purchase at $14.69 - $14.7 per share. $29,0002
14-Jul-08 MARQUEZ TIMOTHY
Officer 44,945 Indirect Automatic Sale at $24 per share. $1,078,680
1-Jul-08 DEPUY MARK
Officer 1,000 Direct Option Exercise at $12 per share. $12,000
1-Jul-08 DEPUY MARK
Officer 1,000 Direct Automatic Sale at $22.86 per share. $22,860
1-Jul-08 ANDERSON TERRY L
Officer 30,000 Direct Option Exercise at $6 per share. $180,000
1-Jul-08 ANDERSON TERRY L
Officer 25,000 Direct Automatic Sale at $22.25 - $22.86 per share. $564,0002
2-Jun-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Option Exercise at $6 per share. $30,000
2-Jun-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Automatic Sale at $20.13 - $20.16 per share. $101,0002
21-May-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Option Exercise at $6 per share. $30,000
21-May-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Automatic Sale at $20.95 - $21.05 per share. $105,0002
25-Feb-08 MARQUEZ TIMOTHY
Officer 159,891 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 SNELL MARK A
Director 5,630 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 WALKER RICHARD S
Director 3,500 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 GRIGGS DOUGLAS J
Officer 5,588 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 MCFARLAND J C
Director 7,000 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 BRITTAN J TIMOTHY
Director 7,000 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 REED JOEL L
Director 7,000 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 FICKER TIMOTHY A
Officer 26,768 Direct Acquisition (Non Open Market) at $0 per share. N/A
25-Feb-08 SCOGGINS MYLES W
Director 3,500 Direct Acquisition (Non Open Market) at $0 per share. N/A
2-Jan-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Option Exercise at $6 per share. $30,000
2-Jan-08 SCHNEIDER WILLIAM
Officer 5,000 Direct Automatic Sale at $20.06 - $20.24 per share. $101,0002
1-Nov-07 SCHNEIDER WILLIAM
Officer 5,000 Direct Option Exercise at $6 - $6 per share. $30,0002
1-Nov-07 SCHNEIDER WILLIAM
Officer 5,000 Direct Automatic Sale at $22.96 - $23.06 per share. $115,0002
15-Oct-07 SCHNEIDER WILLIAM
Officer 5,000 Direct Automatic Sale at $20 - $20 per share. $100,0002
15-Oct-07 SCHNEIDER WILLIAM
Officer 5,000 Direct Option Exercise at $6 - $6 per share. $30,0002
27-Aug-07 REED JOEL L
Director 10,000 Direct Purchase at $16.10 - $16.4 per share. $163,0002
27-Aug-07 SCOGGINS MYLES W
Director 6,000 Direct Purchase at $15.98 - $16.37 per share. $97,0002
28-Jun-07 MCFARLAND J C
Director 1,000 Direct Purchase at $18.58 - $18.6 per share. $19,0002
27-Jun-07 WALKER RICHARD S
Director 4,500 Direct Purchase at $18.10 - $18.15 per share. $82,0002
27-Mar-07 MARQUEZ TIMOTHY
Officer 205,882 Direct Acquisition (Non Open Market) at $0 per share. N/A
I posted on several boards but few people know my name here on I Hub. We should ask "MOMO" LOL
Spread the word to as many as you can, cause if my calculations are right, there are NO shares in the float and there is a 565,000 short position!!
Looks good here cdnkid10, glad I got in today
Very important note! If the recent buying numbers are true and if the last reported FLOAT numbers are true, then there are NO shares left in the float! There is still a reported 565,000 shares short so I see some very exciting things happening here!! The CEO has silently taken over the float!! Amazing I did not find this earlier!! Now if people will just keep their shares, this stock can get back to the $15.00 range!! They certainly have the assets to support that price!!!
I paid 2.75$ volume has been zero the last couple of weeks over here. For me comissions are lower when I buy in Frankfurt.
http://aktien.wallstreet-online.de/541491.html
What price did you pay for it, in U.S. dollar? What has the volume been lately in Frankfurt for this stock? Zoro, do you want to be a moderator on this board cause I have never done it and I don't know how to get the filing information in the header? Here is the link to the informatonhttp://investor.venocoinc.com/phoenix.zhtml?c=193733&p=IROL-sec
I think this stock is going to get alittle exciting when everyone finds out the CEO is buying up the float right from under the markets nose without saying anything to the investment community. I just happened to run across it by mistake on day!
Just bought some in Frankfurt, let´s see how the story unfolds here
He is putting substantial capital in it and I would think he's expecting a nice payoff.
More insider buying I will bet! Watch for the same thing today and then a Schedule 4! He seems to buy on days when the market is down! I am starting to see his buying pattern so no one will notice him doing it!! You don't buy up almost all the float as the CEO unless something big is in the works!!
It's very interesting. Coming nicely off the low in December. Thanks for bringing it to my attention.
yeah that;s it..a buyout...lol
The sure have the assets behind them to support a price that is much much higher!! As the price of oil and NG goes back up they are going to do very well! This looks like a great accumulation time at these levels. The CEO sure is telling everyone it is!! No press releases, no news, no nothing except day after day in silence, the CEO is buying up the float!!!
I noticed the co. cut expenditures. Maybe they are doing some house cleaning.
This stock was trading at $15.00 per share just a few months ago! They have reduced all their debts and the balance sheet shows they can stay alive during this recession and the kicker is the CEO is buying up hundreds of thousands of shares. He now has 27 million shares through his trust and 365,000 directly in his name!! He just keeps buy stock several times per week, make the filings and repeats the process over and over and it seems like I am the only one who has noticed this!! Something is happening because almost all of the float is now gone!!
Maybe a buyout is coming here.
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Venoco is concerned about the Corporate Office:
environment. We operate in areas 370 17th Street, Suite 3900
with extensive environmental Denver, CO 80202-1370
regulations such as in and around Tel: (303) 626-8300
the Santa Barbara Channel as well
as in prime agricultural areas such
as the Sacramento Basin.
Corporate Profile |
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. It has regional headquarters in Carpinteria, California and in Houston, Texas and the corporate headquarters are in Denver, Colorado. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operating interests in three other platforms, and also operates two onshore properties in Southern California, approximately 250 natural gas wells in Northern California and more than 100 wells in Texas. |
Corporate Governance - Board of Directors
Timothy Marquez Chairman and Chief Executive Officer |
Joel L. Reed Lead Director |
J.C. "Mac" McFarland Director |
Dr. M.W. Scoggins Director |
Mark Snell Director |
Richard S. Walker Director |
Credit Suisse Group Energy Summit Presentation: http://media.corporate-ir.net/media_files/IROL/19/193733/Venoco_Credit_Suisse020409Final.pdf
Outstanding shares : 51.54M
Float : 19.69M
% of Shares Held by All Insider and 5% Owners: | 65% |
% of Shares Held by Institutional & Mutual Fund Owners: | 35% |
% of Float Held by Institutional & Mutual Fund Owners: | 98% |
Number of Institutions Holding Shares: | 78 |
Insider Select an insider below for more information. | Relation | Last Date | Form Type | Trans Type | Own Type | Shares Traded | Last Price | Shares Held | ||
LUCAS DONNA | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 11,682 | ||
MCFARLAND J C | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 28,682 | ||
REED JOEL L | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 28,682 | ||
SCOGGINS MYLES W | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 21,182 | ||
SNELL MARK A | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 17,312 | ||
WALKER RICHARD S | DIR | 02/03/2009 | Form 4 | JB | D | 11,682 | - | 23,682 | ||
MARQUEZ TIMOTHY | OFF | 01/27/2009 | Form 4 | AB | IN | 95,000 | $2.582 | 27,879,385 | ||
MARQUEZ TIMOTHY | OFF | 01/26/2009 | Form 4 | AB | IN | 95,000 | $2.570 | 27,784,385 | ||
MARQUEZ TIMOTHY | OFF | 01/23/2009 | Form 4 | AB | IN | 93,000 | $2.526 | 27,689,385 | ||
MARQUEZ TIMOTHY | OFF | 01/22/2009 | Form 4 | AB | IN | 93,000 | $2.513 | 27,596,385 | ||
MARQUEZ TIMOTHY | OFF | 01/21/2009 | Form 4 | AB | IN | 93,000 | $2.522 | 27,503,385 | ||
MARQUEZ TIMOTHY | OFF | 01/20/2009 | Form 4 | AB | IN | 93,000 | $2.339 | 27,410,385 | ||
MARQUEZ TIMOTHY | OFF | 01/16/2009 | Form 4 | AB | IN | 33,200 | $2.648 | 27,317,385 | ||
MARQUEZ TIMOTHY | OFF | 01/15/2009 | Form 4 | AB | IN | 50,000 | $2.511 | 27,284,185 | ||
MARQUEZ TIMOTHY | OFF | 12/31/2008 | Form 4 | B | IN | 80,000 | $2.470 | 27,234,185 | ||
MARQUEZ TIMOTHY | OFF | 12/30/2008 | Form 4 | B | IN | 17,980 | $2.200 | 27,154,185 | ||
WALKER RICHARD S | DIR | 12/22/2008 | Form 4 | B | D | 4,000 | $2.490 | 12,000 | ||
MARQUEZ TIMOTHY | OFF | 12/08/2008 | Form 4 | B | IN | 750,000 | $2.800 | 27,136,205 | ||
FICKER TIMOTHY A | OFF | 12/04/2008 | Form 4 | B | IN | 3,500 | $2.550 | 3,500 | ||
MCFARLAND J C | DIR | 11/20/2008 | Form 4 | B | D | 2,500 | $2.550 | 17,000 |
TOP INSTITUTIONAL HOLDERS |
|
Holder | Shares | % Out | Value* | Reported |
MORGAN STANLEY | 3,448,944 | 6.69 | $44,836,272 | 30-Sep-08 |
BlackRock Advisors, LLC | 2,491,155 | 4.83 | $32,385,015 | 30-Sep-08 |
WENTWORTH, HAUSER AND VIOLICH | 1,896,926 | 3.68 | $24,660,038 | 30-Sep-08 |
FMR LLC | 1,746,135 | 3.39 | $22,699,755 | 30-Sep-08 |
WELLINGTON MANAGEMENT COMPANY, LLP | 5,709,150 | 11.08 | $74,218,950 | 30-Sep-08 |
KENNEDY CAPITAL MANAGEMENT, INC. | 805,450 | 1.56 | $10,470,850 | 30-Sep-08 |
WELLS FARGO & COMPANY | 784,300 | 1.52 | $10,195,900 | 30-Sep-08 |
Barclays Global Investors UK Holdings Ltd | 708,382 | 1.37 | $9,208,966 | 30-Sep-08 |
CARDINAL CAPITAL MANAGEMENT LLC | 664,100 | 1.29 | $8,633,300 | 30-Sep-08 |
VANGUARD GROUP, INC. (THE) | 600,653 | 1.17 | $7,808,489 | 30-Sep-08 |
TOP MUTUAL FUND HOLDERS |
|
Holder | Shares | % Out | Value* | Reported |
FIDELITY SELECT PORTFOLIOS - NATURAL GAS PORTFOLIO | 1,635,695 | 3.17 | $5,463,221 | 30-Nov-08 |
MASTER VALUE OPPORTUNITIES LLC | 964,700 | 1.87 | $12,541,100 | 30-Sep-08 |
BLACKROCK FUNDS-SMALL CAP GROWTH EQUITY PORTFOLIO | 808,857 | 1.57 | $10,515,141 | 30-Sep-08 |
AIM SMALL CAP EQUITY FUND | 246,100 | .48 | $3,199,300 | 30-Sep-08 |
Wells Fargo Advantage Small Cap Growth Fd | 241,900 | .47 | $807,946 | 30-Nov-08 |
ISHARES RUSSELL 2000 INDEX FD | 240,063 | .47 | $1,015,466 | 31-Oct-08 |
Blackrock Master Tr-Blackrock Master Small Cap Growth Port | 234,280 | .45 | $3,949,960 | 31-Aug-08 |
LOOMIS SAYLES SMALL CAP VALUE FUND | 224,274 | .44 | $2,915,562 | 30-Sep-08 |
VANGUARD SMALL-CAP INDEX FUND | 202,270 | .39 | $2,629,510 | 30-Sep-08 |
Blackrock Var Ser Fd-Blackrock Value Opportunities V.I. Fd | 178,700 | .35 | $2,323,100 | 30-Sep-08 |
(www.nasdaq.com)
VQ Chart (by "Zorro")
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