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Interesting summary of world oil and gas situation.
http://www.marketoracle.co.uk/Article970.html
duplicate post
Next week begins the long climb folks. I expect money to come into WRNW from other O&G plays and non O&G pinkies as the trading volumes go down in them this summer.
700 wells
25 rigs
Team
Cementers
Several ventures with Parker Anderson.
Potential earnings make the current market cap extremely low. This will be the hot pick over the next few months IMO.
While others companies are waiting for rigs to show up we are in production with our own equiptment.
Have a good weekend all!
Thanks for the update.
Slow start with mostly buying today so far. Lets close even and next week we move up.
I have nightmares about some of my others, this is one I don't worry about, lol.
When they close the 2 LOIs earnings should skyrocket to about 20 to $25MM, am I right? We dont know what Cementers earning are but IMO this should be close. I'm not including current earnings from services and drilling operations.
Thanks, 600MM isn't bad. They sound confident that the update will be encouraging.
Nigeria had $2.1 bln revenue shortfall in Jan-April
Thu 10 May 2007, 11:56 GMT
By Estelle Shirbon
ABUJA (Reuters) - Nigeria used 274 billion naira of savings in the first four months of 2007 to plug a revenue shortfall due to militant attacks that have cut oil output, the official in charge of accounts said on Thursday.
Nigeria's 2007 budget is based on the assumption that the country produces 2.5 million barrels per day (bpd) of crude oil at $40 per barrel. But production has fallen short due to attacks on oil facilities in the lawless Niger Delta.
Ibrahim Dankwambo, the accountant-general of the federation, said the government had tapped into windfall oil savings so that it could fully finance the budget despite lower-than-projected revenues.
Nigeria saves unbudgeted oil income, or revenues in excess of $40 per barrel, into what it calls the excess crude account. This has a domestic component in naira and a foreign component in dollars.
"The shortfall was funded from the domestic excess crude," Dankwambo told Reuters in an interview at his office in the capital Abuja.
"From January we decided that we must make sure that we share what is foreseen in the budget so that we can have 100 percent budget implementation," he said.
He was referring to the sharing of money to the federal, state and local governments. Under Nigeria's constitution, public revenues must be shared out between those three tiers.
Dankwambo said high oil prices had more than offset the reduction in volume produced by Nigeria, so that overall savings had increased to about $13.6 billion now from $13.2 billion at the start of the year.
The domestic excess crude savings have dropped to 561.8 billion naira now from 627.5 billion at the start of the year due to the disbursements to plug the revenue shortfall, he said.
But the foreign component, untouched so far in 2007, has risen to $9.2 billion now from $8.3 billion at the start of the year.
Next Thursday is two weeks for the Cementers LOI, maybe by then. I'm curious about the 'several strategic initiatives' WRNW has planned with Parker Anderson. Besides the PRs we expect, we should also have some surprise PRs coming up soon.
Pinkies aren't working on Bloomfield today.
This is part of the problem...
http://www.post-trib.com/business/375143,bpgas.article
HOUSTON, May 4 /PRNewswire-FirstCall/ -- Stonebridge Resources Exploration Inc. (OTC Bulletin Board: SBRX) (GR: S3C) -- has signed a Memorandum of Understanding (M.O.U) with the intention of negotiating a joint venture agreement with Jose Ignacio Socorro ('Socorro') of Venezuela and Amadeo Tamayo ('Tamayo') of Columbia.
The joint venture agreement is being arranged for the purpose of purchasing and transporting of approximately two million barrels of Venezuelan crude oil to refining facilities. Stonebridge has recently established a working relationship with Petroleos de Venezuela (PDVSA). (PDVSA) is the Venezuelan state-owned petroleum company. It has activities in exploration, production, refining and exporting oil, as well as exploration and production of natural gas.
Scottrade shows 2 orders at 1500 each with the last at .80.
TYEG is holding it's own.
3x1 thinning.
Nice find, this is from this month.
4x1 5k x 10k
Yes, I don't think either Team or Cemeneters would tell their clients and employees that they are being bought out unless it was a done deal.
Thanks. Ihub doesn't recognize it as a link guess, need to copy and paste.
The LOI clearly states most of their operations are in northern Colorado, not Wyoming. You need to re-read it.
Nowhere has the company said they are moving to OK. Obvious subtle bashing here, and weak points.
Time to get my tar and feathers renewed.
"The PR may have stated the $1M dollar financing was done, however I feel there might be a few more shares left, not many lets hope."
Could Parker Anderson have made up the difference?
I'll try calling them and their old IR guy on Monday and see if I can find anything.
the .095 is out of sequence, last still .01
1,000,000 @ .01
I was looking at it for a few weeks, should have got in. I don't know what happened to their last project but they are stil producing NG from prior wells.
Yep, been watching it all day. If I had any dry power I'd put in an order small bucks at .015 and see if I got lucky. IMHO there may be new coming, the volume is way high.
Only 1 MM at .01.
Why would a proven M&A attorney be hired to start JVs?
An aquisition reqiures 51% or better, NOT 100%. Your slamming WRNW without knowing what your talking about, and calling me ignorant. .
It's not my ignorance at all. I was well aware that WRNW never stated that they are aquiring 100% of TEAM. Why would you think that I did?
a couple of people have, but I think most of us have not.
The company we are aquiring is Team Services, that information is about Team Downhole, part of the company.
I dumped about half of my position before the change also, just no way of knowing what is gonig to happen.
A good description of what cementing is.
http://www.trican.ca/Services/WellProductionCement.aspx
They may have gotten in a few days ago at a slightly lower price, news is a couple of days late.