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WRNWs area of expertise before they became a drilling company was NCO2. They still mention C02 on their website somewhere. Although they have removed the mention of NC02 from their site, it still shows up in the caption bar of your browser when you go to their site.
One of their PRs this year also mentions NC02.
"The Company is actively participating in three project areas within southwestern Ontario. In the Dunwich project area, the Company has completed the shooting of 10.5 kilometers of two-dimensional seismic and this data has been processed and interpreted. An exploratory drilling location has been identified and drilling will commence in the second quarter of 2007 upon the removal of township road bans."
http://www.encyclopedia.com/doc/1Y1-104974899.html
Lots of oozing oil in Rogers County
OKLAHOMA CITY -- After more than three years of planning and preparation, the Oklahoma Corporation Commission's Oil and Gas Division expects to start plugging nearly 200 abandoned and leaking oil and gas wells near the eastern shore of Lake Oologah by late September.
The process will begin on Aug. 2, when the U.S. Environmental Protection Agency (EPA) establishes an on-site command post to oversee what has been designated as a pilot for a larger cleanup program that may eventually plug more than a thousand wells near the lake, Mike Battles, Corporation Commission Oil and Gas Division director, said.
The EPA has hired the Corporation Commission as the pilot project general contractor. Wells to be plugged and contractors to plug them will be determined in August and early September. Battles said the plugging is expected to take about two months, unless weather intervenes. "Most of these wells are very shallow, about 500 feet deep, and we should be able to plug up to four wells a day," Battles said.
The commission's Oil and Gas Division, which has coordinated plugging preparations, will supervise plugging, and the Oklahoma Energy Resources Board will handle site restoration, including removal of soil contaminated by crude oil leaks and old equipment left by operators at the well sites.
In June 1996, the Corporation Commission asked the EPA to assist in plugging the leaking wells because Oklahoma lacked funds to pay for the project.
Plugging costs have been estimated at about $2 per foot. The cost of the pilot project won't be known until the plugging work has been completed.
Most costs will be paid from the federal Oil Spill Liability Trust Fund, administered by the U.S. Coast Guard, because surface water runoff from the area of the leaking wells is considered a threat to Lake Oologah, a part of the U.S. navigable waters system.
Mike Schmidt, Oil and Gas Division deputy director, said the Corporation Commission may be able to plug more than the approximately 200 wells in the pilot project.
"Federal funds will pay only for plugging abandoned wells considered an environmental threat to Lake Oologah. But federal funds also will reimburse the Corporation Commission for
its services, and this may provide funds for plugging some additional wells at state expense," Schmidt said.
The approximately 200 wells in the pilot project are in two sections in Rogers County. The future cleanup zone includes wells in 40 additional sections along the entire eastern shore of Lake Oologah in Rogers and Nowata counties.
No work plan for the larger project will be developed until the pilot project is completed and its performance evaluated, Battles said.
Many of the wells were drilled in the early 1900s and produced from the Bartlesville Sand formation. Many are fewer than 165 feet apart. They were abandoned either unplugged or plugged with early-century technology, which consisted of dropping a log down the bore hole and filling the rest of the hole with mud.
Extensive preparation for the plugging program was required because there are few records available concerning the location or condition of the nearly 100-year-old wells.
The Corporation Commission coordinated preparations that included an aerial survey of site conditions, use of satellite imagery and global positioning system data to help locate the well sites and infrared photographs to identify oil spills, on-site examination of the wells to determine their physical condition, record searches to determine well history and ownership and getting site entry permission from land surface owners.
http://www.occ.state.ok.us/Divisions/NEWS/1999/July99/Oologah.htm
Most likely sweey crude coming from Bartlesville Sand formation.
"On November 22, 1905 on a nine-mile strip of tall
grass prairie on the Creek Indian Reservation in
Oklahoma Territory, an event that would forever
change Oklahoma and America was about to happen. Less
than 1,500 feet below ground the bit of a cable tool
drilling rig operated by partners Robert Galbreath and
Frank Chelsey pierced a strata of sandstone, later named
Bartlesville Sand, and discovered the richest oil reserve the
world had ever seen. A mere 10 miles south of fledgling
Tulsa, the well was named Ida E. Glenn No. 1 after the
Creek Indian woman who owned the 160-acre allotment of
land in the heart of what soon became the world famous
Glen Pool. Glen Pool crude was light, sweet, plentiful and
easily refined into much needed gasoline and kerosene."
page 13 in this pdf.
http://www.cityoftulsa.org/OurCity/budget/documents/CAFR2006.pdf
SPAM, it's a Bloomfield P&D.
Deleted, someone already responded to this.
Tyche's Dunwich well license. Tyche 66% ownership and Torque 33%. The proposed depth is 2000 feet which isn't bad. It shouldn't take too long, but they need to get started. 6th from the bottom.
http://www.ogsrlibrary.com/lic_05.htm
You forgot to mention 25 rigs, 700 wells and 100+ employees.
Experts explain why gas prices are high and could go much higher
Three-dollar gas is here in Southwest Florida and April has not even passed.
Just two weeks ago, the Department of Energy predicted that gas prices were approaching a plateau a few pennies shy of $3. But gas has risen nearly 10 cents a gallon since that prediction.
Now some analysts are thinking the unthinkable: that because of continued refinery outages, a 20-year low in domestic oil inventories, low imports and record demand, gasoline could reach $4 a gallon by summer's end.
"We've seen $4 gas in some parts of the country already. We have a tightness in supply. We have not had the traditional lull in demand, and we haven't even approached the peak summer driving season," said Phil Flynn, vice president and energy analyst with Chicago-based Alaron Futures and Options.
"I mean, we could get back in terms of production, but at this point it's like we're in the third quarter, and we're already at such a deficit," Flynn said. "At some point, you have to be realistic, and $4 gas is a real possibility if things don't change -- if the future is not altered."
Flynn concedes that it is a scary proposition, but the forces behind pricing right now, such as low refinery capacity and imports, press on.
"There are so many outages in the business right now that it is unprecedented," said Fadel Gheit, senior energy analyst at Oppenheimer & Co. "Refineries are running very hard to meet all the new regulations. Therefore, they are more susceptible to accidents."
U.S. gasoline stocks have decreased 12 weeks in a row, dropping by 2.8 million barrels last week, according to the Energy Information Administration.
Current inventories are at 194 million barrels, and the market's pre-Memorial Day comfort level is about 210 million barrels, EIA energy analyst Doug McIntyre said.
Anxiety surrounding that deficit is driving prices at the pump.
Nationwide refinery utilization dropped to 87.8 percent of capacity, down 2.6 percentage points from the previous week.
One of the largest domestic refinery operations, British Petroleum, is running at 50 percent. In 2005, a fire at BP's Texas City refinery killed 15 workers. Last week, something at the refinery sent 100 contract workers to hospitals complaining of flu-like symptoms.
Consequently, BP's refinery capacity is now at a 400,000 barrel-per-day deficit, Gheit said.
There are other pressures on refineries, too.
On Tuesday, the operations must switch to the new federally mandated ethanol blended fuel. That might cause some immediate supply disruptions, though, over time, it might reduce gasoline run-ups by reducing demand, Gheit said.
The nationwide average price for regular unleaded was $2.86 per gallon Wednesday, up from $2.58 last month, AAA reported.
The organization puts the Bradenton-Sarasota-Venice market's average rate at $2.944. In markets to the immediate south, the average was $2.957. A host of local stations already have pushed over the $3 mark.
Demand, the other pump-price-pushing factor, also remains strong.
"At some point, when we hit a certain price level, people just get fed up and say 'Hey, I'm not going to drive to the grocery store.' If it starts cutting into their disposable cash, then perhaps something will change," Flynn said.
Macro factors related to demand, like strong employment and job growth, and economic growth, however, show no signs of slowing.
"Last year, President Bush gave a speech and said, 'One thing consumers can do is go out and buy a fuel-efficient car.' Yeah, but what if you are making a car payment?" said Tyson Slocum, director of research for Public Citizen, a consumer advocacy and energy watchdog group. "That's what we call 'elastic demand.' People don't have a lot of opportunities to lower their demand for gasoline."
The nation's largest refineries include Conoco Phillips at 2.2 million barrels of oil per day, BP at 1.5 million, Exxon, Shell and Valero, the independent refiner.
"These companies are starting to post their earnings, and they are reporting record profits," Slocum said.
On Thursday, Exxon Mobil posted a 10 percent increase, its best-ever first quarter. Valero, the San Antonio-based company that owns 13 refineries in the U.S. and Canada, reported its highest earnings ever.
But analysts are not buying the refinery conspiracy theory.
"Nobody wants to be offline if you can sell the product for gold. The incentive to get these things online are incredible," Gheit said. "A downed refinery cost millions of dollars to the owner, millions of dollars in lost opportunity, because every time they are operating, they're just printing money."
But Tim Evans, an analyst at CitiGroup Global Markets, said the lack of competition has definitely strengthened profit margins in the oil market. He does not necessarily buy into the "hold-out" theory, but he said import deficits have given the refineries more freedom to push their margins.
"The tightness in the market, especially in the gasoline market, is really due to shortfalls in imports," he said.
"Without a stronger element of gasoline imports, which represents competition in the market, the U.S. refineries can continue to pass through increased margins."
http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20070427/BUSINESS/704270743
.01 close!
.01 ask!
They told me the same thing. I think it's up to the company or the TA. Looks like a little paint, now at .35, .51 next.
Good catch, I think your right.
It increased slightly and for a good reason ....
http://www.investorshub.com/boards/read_msg.asp?message_id=19164909
Did you mean that there may be 2 PRs, one Friday and one Monday, or one PR either Friday or Monday. Just curious.
Thanks for keeping us updated.
nice uptick, looking thin here.
.12 x .0125 - 4 x 1
6666, MM signals?
I also saw it, it has been edited since.
No more money needed plus a new partner wanting to fund "several strategic initiatives". (Parker Anderson)
TYEG heading back up, .88 now.
The updates are sure appreciated.
Thanks!
I think your right "dejavu6997".
LOI - Binding vs. Non-binding
LOI’s are either "binding" or "non-binding". If the LOI is to be non-binding it must clearly express this intent. If the LOI is silent in this regard, then it is presumed to be binding and enforceable in the courts.
http://www.nanosft.com/igc/loi.html
Yep, one square each.
Bend over
bend over
let Sheryl take over.
LMAO!!!
I din't think my post was negative, maybe it sounded like it. .10 for BIGN is good, especially since I only took into account TYEG as an asset. Close LALOI and add .03. Close ETLOI and...?
If you look at lesser numbers it's still a good risk IMHO.
GL.
I agree. However a .20 tyeg price would put BIGN around .10 IMHO. All you can do is ride it out and see what happens. Fingers crossed here.
looks like 600 x .012.
132%, ouch.
Aurus Communicates Board Decision
NEW YORK, NY, Apr 24, 2007 (MARKET WIRE via COMTEX) -- Aurus Corp. (PINKSHEETS:
AURC) announces that its Board has been in constant communication with the
representative of the Offeror, Finance Company Kartix, which has made an offer
to purchase all of the outstanding shares of the Company at $.38 per share.
The Board has concluded that the recent stock price was deliberately brought
down in order to pressure it to accept the proposed offer.
The Board had numerous conversations with Finance Company Kartix during the
course of the last 24 hours and explained why the offer cannot be accepted and
that it will recommend to shareholders to accept $.68 per share.
It communicated to Finance Company Katrix that it recommends to the shareholders
that the offer is too low and that they should accept an offer of $.68 per
share. Consequently, the original offer of $.38 is refused and a counter offer
of $.68 is made with an expiry date of April 30, 2007, at 18:00 hours.
The Board made their decision on the fact that the assets of Aurus Corp. are $8
billion as well as the fact that the company is in production. With expenses
ranging at approximately 70% of the production value of the minerals, the amount
of profit in relationship to share value is very high and the share price should
be $2-3.
Based on the negotiations, the Board believes very strongly that the counter
offer will be accepted.
About Aurus Corporation
Aurus Corporation is a publicly traded mining holding company with several
precious metal properties with over 5 million ounces in gold reserves, trading
under the ticker symbol AURC on the US Pink Sheets market. Aurus seeks to
continue to acquire proven gold and other precious metal reserves in Russia and
other emerging countries and operate its mines through joint ventures and/or
partnerships.
Contact:
Contact:
Jeremy Krause
Managing Director
Business Development Consultants, LLC
1-858-384-0294
SOURCE: Aurus Corporation
Copyright 2007 Market Wire, All rights reserved.
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SUBJECT CODE: Manufacturing and Production:Mining and Metals
Terrorisim pushing up oil prices... (sad)
ADDIS ABABA, Ethiopia (AP) - Gunmen raided a Chinese-run oil field near the Somali border on Tuesday, killing 65 Ethiopians and nine Chinese workers, an official of the Chinese company said. An Ethiopian rebel group claimed responsibility.
TYEG - 1.10
Quiet start. Oil up .11 to $65.96.