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Serves them right................
Thanks Sfraven1466 - that makes sense!
Dade - I decided to use limits - however, this A.M. when I went to set my buy I found I had to call a TD Ameritrade Broker in order to place and order. I've never had to call a broker to place a buy before - What the deal with that?
Question?? what's the best way to get in on a play like this? Buy in at "market" during pre-trade? suggestions please.. thanks
Bill.. Please explain Dragon Trending Mode.. I cannot find information about it on the net,,,,,,,,,,,,,,,,,,,,thank you!!
interesting bakken news:
A big concern for companies is the cost of hauling oil out of North Dakota. With a pipeline in the works, it is likely that production will pick up once more pipelines are available in early 2010. …
As companies focus on infrastructure issues and the Bakken play, the Three Forks Sanish (TFS) Formation continues to be the big unknown. …
As long as McKenzie County continues to have companies like Continental Resources, which is expanding its operation and technology in the county, oil exploration and investment should continue to rise.
“We decided to drill the first wells using our new Eco-Pad concept in McKenzie County because the opportunity presented itself,” says Jeff Hume, Continental Resources chief operating officer. “The Bakken and Three Forks wells we’ve drilled there have been successful and we think our success will continue there.”
The Eco-Pad Concept allows four wells to be drilled on one pad or location. Prior to this concept, Continental Resources needed one pad for each well it planned to drill. The company has eight additional permits pending with plans of continued drilling in McKenzie County.
“The pace of activity appears to be picking up rapidly,” adds Ness. “Landmen are working, companies are making plans to pick up more rigs and leases are beginning to expire, which creates a sense of urgency.” …
“Get ready,” says Ness. “From everything I see and hear, it’s going to get crazy busy in 2010.”
By Tina Foreman, Farmer Staff Writer
NEWS: Documentary looks at N.D. oil boom
Thursday, October 8, 2009
Bakken Play in the Media
NEWS: WSC offers classes for oil workforce
Friday, October 9, 2009
With incredibly strong demand for a skilled, trained workforce with the large energy industry in western North Dakota, the ability to provide training locally is crucial to meeting that demand.
At Williston State College, they have fully thrown themselves into making the college the place to turn to for training the energy industry workforce. Through its Train ND and continuing education programs, the college has been rapidly expanding the range of programs offered.
Deanette Piesik, executive director of Train ND and continuing education at WSC, said the programs they are currently offering are more varied than ever before and are seeing very strong enrollment so far this year. …
One reason for the high attendance is, according to Piesik, due to oil and gas companies having their employees get their training in at the end of the year. "We were starting out with high numbers at the beginning of the year. We only expect them to rise straight through to next June," said Piesik.
Piesik said there are several reasons for the continuing upswing in enrollment. Along with the possibility of more hiring going on in the area and more work in the oil fields next year, there is the new Petroleum Safety and Technology Center which opened last June. …
Some of the more basic and introductory oil and gas industry training courses include safety training and a 10 hour OSHA training class for new hires or as a refresher course.
There are also New Hire Training courses of either 24 hours or 40 hours. The 40 hour course is a pre-requisite for floorhand training for well servicing.
Piesik said there also are courses for basic first aid and CPR, defensive driving, HAZMAT, and confined space training. …
A major step the college is pursuing through the Petroleum Center is to now add more in-depth courses and not just entry level courses. …
Among these new programs are the new well-control school and commercial driver's license program. …
The commercial driver's license program takes three weeks and consists of three days of learning regulations, five days of learning backing skills and four to five days of going over Department of Transportation regulations. …
Other new courses include aerial lift training and floorhand training over at the Petroleum Center. …
She said a variety of people, from workers, employers and office workers affiliated with companies, and even lease owners have been coming in to learn basic skills.
The Train ND and Continuing Education program is located on the campus of Williston State College, 1410 University Ave., inside the Crighton Building. For more information, call 1 (866) 938-6963.
The Petroleum Safety and Technology Center is located at 421 22nd Ave. East. For more information, call (701) 572-2834.
Happy Tribe!!
3 Tribes OIL royalty percentages
the Fort Berthold Tribe will get rich with the 800 + wells that Kog and others wil drill in the near future, and this royalty stream will be good for more than 50 years, as long as the wells are producing.
18 % royalty , one half of the 11 percent extraction tax on trust land, and 1 percent of the tax on fee land.. here is the article of the compact. don
Bismarck-Mandan News
State, tribe sign tax agreement
StoryDiscussionLauren Donovan | Posted: Monday, June 9, 2008 7:00 pm
NEW TOWN - Tribal chairman Marcus Wells Jr. said he saw a bald eagle fly just above the butte ridge the day he agreed to an historic oil tax agreement with the state of North Dakota.
As fate would have it, a few weeks later Marathon Oil Co. started drilling that butte overlooking Lake Sakakawea, the first well on the Fort Berthold Indian Reservation in decades and the first ever to probe the lucrative Bakken formation inside the boundary.
Wells and Gov. John Hoeven met in the tribal chambers at New Town Tuesday to sign an agreement that will streamline tribal and state oil taxes into one and hopefully open the oil spigot wide open in an area where 72 rigs are at work.
The agreement ends an unattractive double tax on some wells and it makes the state the single tax collector, paying out a percentage to the tribal government.
It's estimated as many as 800 new Bakken wells could be drilled on the reservation and the tribe's share could be as much as $11 million annually. The tribe also will get 18 percent of the value of each barrel produced on tribal trust acres.
The new tax system goes into effect July 1. In it, the tribe gets half of the 11 percent production and extraction tax on trust land and 1 percent of 5 percent tax on fee land.
http://www.bismarcktribune.com/news/loca...
Im in with 90,000 shares w/aps of .43... I am a happy boy - and we still have a long way to go..
The Bakkens has been on fire this year and will continue.
Bakken Part 2: The 3 Forks - Sanish Formation
It's being called "the #1 oil play in the country."
It was only a year ago that the U.S. Geological Survey called the Bakken "the largest continuous oil accumulation it has ever assessed."
With 4.35 billion barrels of recoverable oil in place -- the Bakken is already a homerun play for domestic oil companies and individual investors.
And now we're looking at a staggering turn to the upside.
That's because geologists and oil industry officials are saying we may have a "second Bakken" on our hands... one that could literally double the Bakken's already-prolific output.
It's called the 3 Forks - Sanish oil formation, and it lies directly underneath the Bakken.
Here's what Lynn Helms, Director of North Dakota's Dept. of Mineral Resources, has to say about it:
"I think it's a big deal, and we're pretty fired up about it... Eventually it could equal the Bakken, which is remarkable... and that is an understatement. That could literally double the potential we have -- a Bakken 2, if you will."
And for investors, the timing couldn't be better.
Recently our Bakken stocks have locked in gains of 115%, 55%, 43% and 33%.
And we're only getting started. …….Rick
Big Big News....
NewsToday : New Drilling Rig “UNIT 117” Moved to KODIAK OIL & GAS (USA) INC TWO SHIELDS BUTTE well today located at 14-33-6H SESW 33-149N-92W DUNN COUNTY ND 18107 ON 5/12/2009.
Kodiak Oil & Gas Corp. Announces Closing of Registered Direct Offering of Common Stock
PRNewswire
DENVER
(NYSE:KOG)
DENVER, May 14 /PRNewswire-FirstCall/ -- Kodiak Oil & Gas Corp. (NYSE: KOG) (AMEX: KOG), an oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming and Colorado, today announced the closing of its previously announced registered direct offering of 9,600,000 shares of common stock. All shares were sold at a price of $0.75 per share. The net proceeds of the offering, after deducting offering expenses, were approximately $7.15 million. There is no over-allotment granted by Kodiak Oil & Gas Corp. in this offering.
As previously announced, the registered direct offering of common stock, which was subject to certain closing conditions and regulatory approvals, contemplated the issuance of 10,000,000 shares of common stock. Due to the potential for delays in the prompt closing of the offering, management and insiders of Kodiak Oil & Gas Corp. have elected not to participate in the offering. (KOG changed their minds).
The shares of common stock offered by Kodiak in this transaction will be registered upon issuance under Kodiak's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on July 24, 2008. There was no placement agent or underwriter in this transaction.
More DD - It's true that low oil prices and a terrible winter had KOG management nervous. All oil companpies were effected, especially the smaller companpanies - thank goodness KOG had no debt! And, the made it clear in their 4th quarter conference call, they had no debt, they were sticking to their plans, and they were going to fold!!
There are lots for big eyes on this little company! Personally, I am not investing as much in what this company is as I am in what it is are becoming...
BEFORE THE INDUSTRIAL COMMISSION
OF THE STATE OF NORTH DAKOTA
CASE NO. 10885
ORDER NO. 12879
IN THE MATTER OF A HEARING CALLED ON
A MOTION OF THE COMMISSION TO
CONSIDER THE APPLICATION OF KODIAK
OIL & GAS (USA) INC. FOR AN ORDER
CREATING THREE 1280-ACRE DRILLING
UNITS, SECTIONS 10 AND 15; SECTIONS 23
AND 24, T.147N., R.92W., AND SECTIONS 10
AND 15, T.147N., R.91W., DUNN COUNTY, ND
AND ALLOWING A HORIZONTAL WELL TO
BE DRILLED ON EACH DRILLING UNIT AT
ANY LOCATION NOT CLOSER THAN 500
FEET TO THE BOUNDARY THEREOF AND
SUCH OTHER RELIEF AS IS APPROPRIATE.
ORDER OF THE COMMISSION
THE COMMISSION FINDS:
(1) This cause came on for hearing at 9:00 a.m. on the 25th day of February, 2009.
(2) The witnesses for Kodiak Oil & Gas (USA) Inc. (Kodiak) provided telephonic
testimony in this matter, pursuant to North Dakota Administrative Code (NDAC) Section
43-02-03-88.2. Telephonic Communication Affidavits were received on March 6, 2009,
therefore, such testimony may be considered evidence.
(3) Kodiak made application to the Commission for an order creating three 1280-acre
drilling units, Sections 10 and 15; Sections 23 and 24, Township 147 North, Range 92 West
(Sections 10, 15, 23, and 24); and Sections 10 and 15, Township 147 North, Range 91 West
(Sections 10-147-91 and 15-147-91), Dunn County, North Dakota and allowing a horizontal well
to be drilled on each drilling unit at any location not closer than 500 feet to the boundary thereof
and such other relief as is appropriate.
(4) Kodiak has a Joint Operating Agreement with EXOK.
(5) Kodiak is the owner of an oil and gas leasehold estate in Sections 10 and 15; Sections
23 and 24; and Sections 10-147-91 and 15-147-01.
(6) Sections 10, 10-147-91, 15, 15-147-91, 23, and 24 are unspaced and NDAC Section
43-02-03-18 requires horizontal oil wells to be drilled upon a drilling unit described as a
governmental section or described as two adjacent governmental quarter sections within the same
section or equivalent lots, located not less than 500 feet to the outside boundary of such tract.
Mt. Blanc - since the day you made your "fairly dead" observation, KOG has gone from .20 to .90....... 4X+......
Welcome Pimphot4000! - looks like someone had to dump some end of the week shares at any price! Then we popped back up to .90 after hours.........................
Yeah .90 is the resistance point we need to get by now, just as .64/.65 was our resistance point for several days... I think 1.04/1.05 will be our next point.. That's where 100 and 200 day averages converge - and, there should be lots more interest in KOG when we approach and past that point!!
Pimbot - This little stock has some news coming out next week,,, and a conference call in a week or so, and is about to cross its 100 and 200 day averages, and could have up to 12 wells going in the bakkens by the end of the year, AND could be a $5 to $10 stock by year end!!!
I now own 84,000 shares with an APS of .32... Am excited?? You bet!!
Is anyone here a Chart expert? What is our chart telling you??
Pimphot4000 - do you mean more interest in this forum or in this position? If you mean this forum, I agree!!
KOG has been severly undervalued, it has a great plan it is working hard to accomplish, and it is DEBT FREE!!
It is no wonder we are finally soaring - yay!!!
Friends, This is the 4th Bakken well that Kodiak Oil and Gas (KOG) has spud in the last 6 months in Dunn County, ND. Spud means "begun to drill."
Well name is: TWO SHIELDS BUTTE 16-8H -- SESE 8-149N-92W
Here is the link to get more information: https://www.dmr.nd.gov/oilgas/riglist.asp
Despite Losses,Kodiak Plans Bakken Wells
• March 25, 2009 •
After reporting a net loss in 2008 of $38.2 million, Kodiak Oil & Gas Corp. of Denver said it still plans to spend $11.3 million in the Williston Basin.
Part of its spending includes $6.5 million for prepaid tubular goods, which have not yet been delivered, and will be applied to the drilling costs of the first six wells.
The company has 37,000 net acres leased in Dunn County, ND. Completion is expected to start on two wells, Moccasin Creek #16-34-2H well, in which Kodiak has a 60% working interest, and the MC #16-34H well, in which it also has a 60% working interest.
Kodiak is the operator of both wells and expects to spud a third well in the area.
The company blamed lower oil and gas prices on the 20% re?duction of sales, which were $6.8 million in 2008. It also said the shut-in status of three significant oil producing wells contributed to lower revenues.
“Due to the company’s current capital constraints, the company impaired all leases expiring in 2009 since existing capital is allocated to the company’s eastern Bakken play in Dunn County and concern for the lack of capital in the industry to sup?port drilling activity through farm outs,” Kodiak said in a press lease.
Kodiak said it has no long-term debt and recently executed a $20 million credit facility with the Bank of the West, NA with a borrowing base of $3 million.
Before long the second well will start to produce and dont forget the 3 permits they recently had approved! With the weather turning and oil prices up, this should be a big year for KOG.. I have holdings in 3 accounts - about 75,000 shares. My APSs are .23, .26, and .30 - I am a happy boy. Yes the weather and low oil prices left them in a pickle - but they will work their way out of it! All of their plans are still in the process.
we are on our way.. Oil prices up - weather getting better, and things like below help too!!
ND Senate Okays Oil
Tax Relief Bill March 25, 2009
A complicated tax holiday bill tied to prevailing crude oil prices that gives incentives for drilling new horizontal wells was expected to be approved by the North Dakota State Senate late this month.
HB1235 was given unanimous approval earlier in the month by the Senate Finance and Taxation Committee. The ND House will now take up the measure.
As written now, producers on average will save between $125,000 to $200,000 in production and extraction taxes for each new well, according to Ron Ness, president of the ND Petroleum Council.
It will encourage more oil expiration in the state at time when oil prices are declining, he said.
At the same time, producers are also expected to benefit from pending legislation that lowers the corporate income tax and property tax relief bills that apply to pipelines and related buildings.
Here is how the tax holiday would works under HB 1235, which allow operators to pay a reduced 7% tax on the first 75,000 barrels or $4.5 million in
gross value (whichever comes first) on all new wells drilled after July 1.
The tax incentive is based on the West Texas Intermediate crude oil average price, less $2.50, falls below $55 a barrel for one month during a time when statutory incentives are suspended.
According to Ness, the bill does have an emergency clause which says if oil prices increase above $50.16 in April, the horizontal tax holiday "could activate and provide some timely tax relief".
"There is a three-year sunset on this bill," Ness said, "meaning the bill will stay in law for three years, allowing wells that qualify for the horizontal tax holiday to receive the reduced 2% rate for up to 18 months beyond the sunset."
In addition, Ness points out the tax holiday would deactivate if West Texas Intermediate average price is above $70 for one month.
"Any well drilled and completed after the first day of the following month would not receive the holiday," Ness said, "and would pay the 6.5% extraction or a total tax of 11.5% until such time as the statutory incentives are reinstated due to low oil prices
Be Patient............ oil prices and weather have been working against KOG.
Check out this report................some funds are buying big time lately..
http://www.mffais.com/kog.html
Hardy Knocks out Markham in the 1st round!
WELDER - Me Too!! I just opened up another TD account specifically for KOG. I am going to add additional 5k today - to 10k total.. I have additional 12k in another account and some in IRA. My new account average is .285.
My friend who does all the great Bakken DD is in Denver as we speak. He is going to meet with KOG while is there. Next week he will fill me in and I will pass info on to group..
GLTA
Kodiak Presenting next week in florida... check out their website:
http://kodiakog.investorroom.com/index.php?s=19&item=10
K- my pleasure..... i have goose bumps over this one.. being patient is not a problem...... i have some cash stashed upstairs..... i like having some cash..... but i think I am going to open and fund a new account..... i feel like MMs have had a part in where we are now ,,,, i think .27 is our bottom or close.... I want to buy at this level before we head up ... i have the feeling when we head up it will be quickly - especially when the weather breaks.... but my friends and his friends...(all big energy investors) feel this will move up soon - in a couple of weeks or so...
Don is a friend of mine and he received an email today from "Sandra" at KOG investor services in Denver.
Sanda said, "We have not released the date to the public at this time, however, please expect our (KOG) 4th Q Earnings Report release in mid March".
Sincerely-
Sandra Oneil
Sandra Oneil
1625 Broadway Suite 250
Denver, CO 80202
Tel: 303-592-8038
Fax: 303-592-8071
The her e-mail address is <seoniel@kodiakog.com>
So if you have any other questions..this is the source of info.. don
Also, a friend of mine is going to Denver next week and hopes to visit KOG offices while there.....
Another KOG well was permitted today by the State of ND. If they keep putting money into there well like this, surely KOG must be setting on a big surprise for us.
#18022 - KODIAK OIL & GAS (USA) INC., TWO SHIELDS BUTTE 16-8-16H, SESE 8-149N-92W,
DUNN CO., 525' FSL and 170' FEL, WC, WILDCAT, Tight Hole, 2047' Ground, API #33-025-
00911 (Approved: 2/9/2009)
--------------------------------------------------------------------------------
A great company named, Questar (STR), also started a third horizontal well a couple days ago near KOG's oil field.
Check this out. Sorry the photos didn't paste!
"The vast majority of the oil leaving the Bakken runs in a pipeline to a refinery in Mandan, ND. The pipeline recently reached capacity so new additions must be trucked or sent via rail car. New pipeline capacity is being built and will be available soon."
Mandan Refinery
Facts & Figures
Rated crude oil capacity:
60,000 barrels per day
Product slate:
Gasoline, diesel fuel, jet fuel, propane, butane
Feedstocks:
Primarily Williston Basin sweet crude oil
Acreage and location:
960 acres, near Mandan, North Dakota
Number of employees:
Approximately 220
061494.jpg
Gateway, I agree.
Plus, I have a friend that has done some incredible DD on Bakken in general. He has tracked daily and weekly 27 Companies drilling in Bakken. He owns 6, KOG is the one he is most excited about.
He has been paying special attention to KOG. He, and others he knows who have had close eyes on KOG, predict we will take off to around $1 by 2/23.
The weather in NE Montana and NW N.Dakota has been very prohibitive this winter and has hindered progress in drilling and getting new wells productive. It's been too cold and there been way too much snow this ls winter.
This is Pure speculation here on my part: 3 small companies like KOG, have been recently approached by larger companies about posible buy outs. I understand negotiations are in progress. My speculation is this, with all the things KOG has in the fire and with better weather coming, if they can hit things right, perhaps a big guy will buy them KOG too.
New KOG permit applications emailed on 3-Feb-09 12:17 pm
NDIC Docket for Wednesday, February 25, 2009
Case No. 10883: Application of Kodiak Oil & Gas (USA) Inc. for an order creating a 640-acre drilling unit described as the S/2 of both Sections 7 and 8, T.149N., R.92W., Dunn County, ND and allowing a horizontal well to be drilled
thereon at any location not closer than 500 feet to the boundary thereof, or
for such other and further relief as may be appropriate.
Case No. 10884: Application of Kodiak Oil & Gas (USA) Inc. for an order creating four 1280-acre drilling units, Sections 2 and 11; Sections 3 and 10; Sections 14 and 23; and Sections 15 and 22, T.148N., R.93W., Dunn County, ND and allowing a horizontal well to be drilled on each drilling unit at any location not closer than 500 feet to the boundary thereof and such other relief as is appropriate.
Case No. 10885: Application of Kodiak Oil & Gas (USA) Inc. for an order creating three 1280-acre drilling units, Sections 10 and 15; Sections 23 and 24, T.147N., R.92W., and Sections 10 and 15, T.147N., R.91W., Dunn County, ND and
allowing a horizontal well to be drilled on each drilling unit at any location not closer than 500 feet to the boundary thereof and such other relief as is
appropriate.
Thanks Phil! I appreciate it!
Sammy - Interesting.. this stuff is available through Amway Australia check out the drink recipes!
http://www.tixana.com.au/Piranha_MixerMenu.htm
note the copy write. The fish logo seems somehow fimiliar.
Phil - please remind me who you trade through, how you like them, how do they compare to who you've used in the past, and do you have any experience with TD ameritrade. I am thinking about opening another account and I remembered you were promoting awhile back the company you use,,
thanks!!!
Any ideas about ERWF? Good News and steady decline!
My TD acct has shown the same MNTY loss for months..
Fairwiew - I said the other two companies had/are being investigated as a matter of fact. I wasn't recommending BBDA be investigated.
My post was simply comparing the complexity of other cons to this one - if in fact it is a con. time will tell.
GLTA
Blockbuster - IBTY and ECLF were both pretty elaborate cons. Especially IBTY! They both went to a few dollars and wound up at .0001. IBTY did an R/S of 4000 to 1, changed to IBOT and tried another con - It didn't last long.... ECFL changed to MNTY, barely got off the ground, and has been at no-bid for months now.. The SEC has been investigating both of them.