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Offshore oil projects opening up
By Wang Yu (China Daily)
Updated: 2007-03-10 09:47
Could be a good opportunity with Deep Down / Mako Technology merge!
Foreign giants are gearing up to further tap China's offshore reserves since the country's top offshore oil firm opened an unprecedented number of blocks for international collaboration.
"Our exploration and production (E&P) department is busy conducting feasibility studies on relevant documents on CNOOC's blocks offered. We are still waiting for study results to make a decision as to get involved or not," Catherine Min, Total China's vice-president of communications, told China Daily on Friday.
Besides the 22 blocks, Total is in close contact with CNOOC on several other offshore projects in China, Min said without elaborating.
This year, 22 blocks covering an area of 114,050 square kilometers are available for international cooperation, China National Offshore Oil Corp (CNOOC) said in a public notice. It is largest-ever offer for international cooperation in the country's oil and gas E&P.
"BP is among the first multinationals operating in China and is CNOOC's partner in the Yacheng gas project. BP is constantly looking for material opportunities to develop our upstream business in China and will review the areas on offer," Zhao Yuanheng, a veteran spokesman of BP China, told China Daily upon seeing CNOOC's notification.
BP is an early bird in the joint development of offshore projects in China.
According to Zhao Liguo, a legal issues expert with CNOOC, there are already several foreign oil firms contacting CNOOC to request detailed documents for possible joint E&P.
"If they are interested, we will begin further bilateral negotiations for possible cooperation," Zhao said.
"If there are multiple bidders for one project, then a competition mechanism will determine which company gets the project."
The 22 blocks include three blocks in the South Yellow Sea Basin, four blocks in the East China Sea and 15 blocks in the South China Sea, according to CNOOC.
CNOOC Spokesperson Liu Junshan said that developing the 22 blocks will require fairly complicated technology and high-level expertise. "Therefore, it is necessary to bring in international experience," Liu Junshan said.
Liu Gu, a veteran analyst with Shanghai-headquartered Guotai Jun'an Securities Co, pointed out that should both global crude prices and domestic demand increase, traditionally difficult areas will need to be drilled to meet rising demand.
"As energy demand and prices increase, it becomes profitable to drill difficult areas despite the various drilling difficulties," Liu Gu said.
Huge Win For Bio-FUEL!
Great Opportunity @ CMMI!
WASHINGTON (AP) -- Congress by a wide margin approved the first increase in automobile fuel economy in 32 years Tuesday, and President Bush plans to quickly sign the legislation, accepting the mandates on the auto industry.
A new energy bill would increase the fleet average of U.S. automakers to 35 miles per gallon.
The energy bill, boosting mileage by 40 percent to 35 miles per gallon, passed the House 314-100 and now goes to the White House, following the Senate's approved last week.
In a statement, the White House said Bush will sign the legislation at the Energy Department on Wednesday.
In a dramatic shift to spur increased demand for nonfossil fuels, the bill also requires a six-fold increase in ethanol use to 36 billion gallons a year by 2022, a boon to farmers. And it requires new energy efficiency standards for an array of appliances, lighting and commercial and government buildings.
"This is a choice between yesterday and tomorrow" on energy policy, declared House Speaker Nancy Pelosi, D-California, who was closely involved in crafting the legislation. "It's groundbreaking in what it will do."
While some GOP lawmakers criticized the bill for failing to address the need for more domestic oil and natural gas production, 95 GOP lawmakers joined Democrats in support of the bill.
"This legislation is a historic turning point in energy policy," said Majority Leader Steny Hoyer of Maryland because it will cut demand for foreign oil and promote nonfossil fuels that will cut greenhouse gases linked to global warming.
It increases energy efficiency "from light bulbs to light trucks," said Rep. John Dingell, D-Michigan, a longtime protector of the auto industry who was key to a compromise on vehicle efficiency increases.
Many Republicans denounced the Democratic-crafted bill for failing to push for more domestic production of fossil fuels and for mandates some GOP lawmakers warned will not be possible.
"What we have here is a mandatory conservation bill," said Rep. Joe Barton, R-Texas. He argued that the auto fuel efficiency requirements and the huge increase in ethanol use may not prove to be technologically or economically possible.
Democrats disagreed. The legislation takes measured and concrete steps that are achievable, said Dingell.
The Senate passed the bill last week after discarding billions of dollars in higher taxes on oil companies and a solar and wind power mandate that opponents said would raise electric rates in the Southeast. President Bush and Senate Republicans opposed those measures.
The centerpiece of the bill remained the requirement for automakers to increase their industrywide vehicle fuel efficiency by 40 percent to an industry average of 35 mpg by 2020 compared to today's 25 mpg when including passenger cars as well as SUVs and small trucks.
Congress has not changed the auto mileage requirement since it was first enacted in 1975.
Democrats said the fuel economy requirements eventually -- when the fleet of gas-miser vehicles are widely on the road -- will save motorists $700 to $1,000 a year in fuel costs. They maintain the overall bill, including more ethanol use and various efficiency requirements and incentives, will reduce U.S. oil demand by 4 million barrels a day by 2030, more than twice the daily imports from the volatile Persian Gulf.
The automakers have repeatedly fought an increase in the federal fuel standard, known as CAFE, maintaining it would limit the range of vehicles consumers will have available in showrooms and threaten auto industry jobs. Bush also has argued against an arbitrary, numerical increase in the fuel efficiency requirement, preferring instead legislation to streamline the federal requirements and market incentives to get rid of gas guzzling vehicles.
But the automakers have accepted the political shift toward a tougher requirement. After the Senate approved the legislation last week, the White House immediately said Bush would sign it once it reaches his desk.
Congress by a wide margin approved the first increase in automobile fuel economy in 32 years Tuesday, and President Bush plans to quickly sign the legislation, accepting the mandates on the auto industry.
The energy bill, boosting mileage by 40 percent to 35 miles per gallon, passed the House 314-100 and now goes to the White House, following the Senate's approved last week. In a statement, the White House said Bush will sign the legislation at the Energy Department on Wednesday.
Don't Miss
* Pelosi: Bill moves U.S. to energy independence
* Senate passes increase in fuel efficiency standards
The bill requires a massive increase in the production of ethanol for motor fuels, outlining a rampup of ethanol use from the roughly 6 billion gallons this year to 36 billion gallons by 2022. After 2015, the emphasis would be on expanded use of cellulosic ethanol, made from such feedstock as switchgrass and wood chips, with two thirds of the ethanol -- 21 billion gallons a year -- from such non-corn sources.
However, commercially viable production of cellulosic ethanol has yet to be proven and some Republicans have argued that the new requirements could be impossible to meet and may raise corn prices and food supplies.
The bill requires improved efficiency standards for lighting, commercial and government buildings, and appliances such as refrigerators, dishwashers and freezers. It also tells the Energy Department to issue efficiency standards more quickly.
Democrats failed to get through a broad tax package that they had designed to pay for incentives aimed at spurring the development of wind, solar and alternative fuels such as cellulosic ethanol, as well as energy efficiency and conservation programs.
The package would have rolled back $13.5 billion in tax breaks enjoyed by the country's five largest oil companies. The tax package passed the House earlier this month, but was rejected in the Senate as Democrats failed by one vote to overcome a GOP filibuster. The White House said Bush opposed singling out the oil industry for higher taxes and that if the taxes were included, he would veto the bill.
Newbies: Who is Mako Technology?
Mako Technologies provides the offshore industry with reliable equipment and first class service. Based in the heart of the offshore oil & gas industry, Morgan City LA., Mako can respond quickly with equipment to support your topside projects, diving operations and your ROV rental and tooling requirements.
Mako has recently added to its rental inventory a 2000' depth rated inspection / light work class ROV complete with control van and launch recovery system.
Mako have also recently added 300 meter and 1500 meter Seaeye ROV's to their fleet of ROV's available for the offshore industry. Seaeye Lynx, Seaeye Falcon
From the surface to 10,000 fsw, Mako has the equipment that you need, and the service that you want.
Diving Equipment Rental
Mako has provided reliable equipment and superior services to the diving industry since 1994. Mako employs a permanent staff of highly qualified technicians and mechanics to maintain and refurbish its equipment in between rentals. This ensures that the equipment is 100% before it returns to the field. It also ensures that you’ll have professional and fast response to your service needs.
Offshore Construction Equipment Rental
Mako prides itself in providing equipment that is well maintained and extremely reliable. This is accomplished by building the equipment to suit the job site conditions in the first place, then to maintain it aggressively. When Mako rental equipment arrives on your job site, you can rest assured that it has just undergone a complete overhaul and cleanup.
ROV Equipment Rental
Mako Technologies is bringing the latest ROV tooling technology to its rental fleet. By listening to the customer's needs, and then responding to those needs with the latest technology available in the ROV industry, Mako is responding to the ROV market requirements. Mako's ROV tooling rental fleet is growing, with the addition of tools that have been most requested.
Mako Technologies has recently added to its rental inventory a 2000 ft. depth rated inspection / light work class remotely operated vehicle (ROV) complete with control van and launch / recovery system. Mako-ROV Services and Specs
Mako technologies has also recently added 300 meter and 1500 meter Seaeye ROV's to their fleet of ROV's available for the offshore industry. Seaeye Lynx, Seaeye Falcon.
Mako Technologies has ROV clamps and ROV friendly hooks and shackles available, click on the slideshow pictures for larger images or here for clamp specifcations.
Mako Technologies new line of ROV tools, includes equipment that is smaller, lighter and more reliable than older systems. For example, Mako’s new torque tool, designed and built by OceanWorks Intl., is state-of-the-art in torque tool design. The Mako Torque Tool is compliant with API17D & H standards and provides the operator with a single tool with the capability to cover all four classes of torque rating (1 to 4), up to a maximum of 2,000 ft. lbs.
Marine Survey
Mako provide the offshore industry with a responsive Marine Survey service. The company’s surveyors have extensive experience in the marine industry, and provide a reliable and timely service.
* On and Off Hire Surveys
* Damage Surveys
* Engine Surveys
* Loading / Securing of Cargo (Warranty)
* Trip and Tow
* Suitability Surveys
* Valuation Surveys
* Hull Audio Gauging
* Owner Representatives
* Regulatory Vessel Compliance
Contact Us
Mailing Address: Mako Technologies
P.O. Box 3186
Morgan City, LA 70380
Phone: 985-385-7817
Fax: 985-385-0056
Email: sales@makotechnologies.com
Congratulations to all that waited and stayed focus!
Today's news brings adds a whole lot of opportunities!
Speaking of International Opportunities!
SEOUL, Dec 16 (Reuters) - South Korea's National Pension Service (NPS) said on Sunday it would invest 20 trillion won ($21.51 billion) over the next 10 years in overseas energy development projects in a bid to secure energy reserves.
The investment will be shared among three state-led energy firms -- the Korea National Oil Corp (KNOC), Korea Gas Corp (KOGAS) and Korea Resources Corp (KORES), the pension service said in a statement.
"An operation committee consisting of officials from the three firms will be responsible for making investment decisions, said Kim Ho-shik, president of the NPS.
"But we will invest mostly in oil or gas fields that are already in production since it would be too risky to go for fields only under exploration," he added.
South Korea, the world's fifth-largest crude oil buyer, has been hunting for overseas energy projects with the aim of getting at least 20 percent of oil and gas from its own fields by 2013.
The national pension fund, which oversees more than $200 billion in assets, has been diversifying its portfolio in pursuit of higher returns. It collects 9 percent of wages from a third of the country's 48 million people and their employers.
The NPS has said previously it intends to become the world's second-biggest pension fund with a forecast 400 trillion won in assets by 2012.
It currently owns about 3 percent of South Korean stocks by market value and expects the proportion to rise to about 6 percent by 2012. ($1=929.7 Won) (Reporting by Angela Moon; Editing by Alan Raybould)
Wow-Santa has come to DPDW!
This PPS is truly an "early gift" and had some dry powder to add to my position!
There is tremendous DD on this board and clearly 2008 will provide lots of additional information on its business plan that will benefit us all!
Cheers!
Investor 100
President Bush " Press Conference"
President Bush during his press conference this morning mentioned that alternative fuels would have a positive impact in reducing our dependence on Middle East Oil.
He mentioned "alternative fuels" several times in conversation!
The need to increase distribution throughout the Mid-West would depend upon the increasing demand.
This sector is going to play a significant role and glad to know that we are well positioned!
S.Korea plans $21.5 bln overseas energy investment!
It would not suprise me if some of this business touched Deep Down given that it relates to oil and gas fields!
SEOUL, Dec 16 (Reuters) - South Korea's National Pension Service (NPS) said on Sunday it would invest 20 trillion won ($21.51 billion) over the next 10 years in overseas energy development projects in a bid to secure energy reserves.
The investment will be shared among three state-led energy firms -- the Korea National Oil Corp (KNOC), Korea Gas Corp (KOGAS) and Korea Resources Corp (KORES), the pension service said in a statement.
"An operation committee consisting of officials from the three firms will be responsible for making investment decisions, said Kim Ho-shik, president of the NPS.
"But we will invest mostly in oil or gas fields that are already in production since it would be too risky to go for fields only under exploration," he added.
South Korea, the world's fifth-largest crude oil buyer, has been hunting for overseas energy projects with the aim of getting at least 20 percent of oil and gas from its own fields by 2013.
The national pension fund, which oversees more than $200 billion in assets, has been diversifying its portfolio in pursuit of higher returns. It collects 9 percent of wages from a third of the country's 48 million people and their employers.
The NPS has said previously it intends to become the world's second-biggest pension fund with a forecast 400 trillion won in assets by 2012.
It currently owns about 3 percent of South Korean stocks by market value and expects the proportion to rise to about 6 percent by 2012. ($1=929.7 Won) (Reporting by Angela Moon; Editing by Alan Raybould)
Oil Rises $4 ~$94!
NEW YORK (Reuters) - Oil jumped nearly 5 percent to over $94 a barrel Wednesday as the U.S. Federal Reserve and other major central banks moved to ease credit tensions and U.S. crude stocks fell to the lowest point since early 2005.
U.S. oil settled up $4.37 higher at $94.39 a barrel while London Brent crude gained $4.03 to $94.02.
U.S. crude extended gains of more than $2 from Tuesday after the Fed announced the creation of a temporary short-term lending facility to ease credit market strains.
The Fed acted in concert with market-calming actions by the Bank of England, the European Central Bank and other major central banks.
"The crude market has risen here more on the Fed action as its move on liquidity will help economic activity overall," said Kyle Cooper of IAF Advisors in Houston.
The Fed cut interest rates by a quarter point on Tuesday, disappointing some market players hoping for a larger cut to revive the flagging U.S. economy.
Worries about the economic health of the world's top consumer have sent oil crashing down from peaks over $99 a barrel in late November, after winter supply concerns sent prices on a record rally from below $70 in mid-August.
U.S. government data showing a 700,000-barrel decline in U.S. crude inventories last week also boosted prices, sending stockpiles down to their lowest level since March 2005.
istillates fell 800,000 barrels, while gasoline rose 1.6 million barrels, Wednesday's data from the U.S. Energy Information Administration showed.
"From my perspective, the crude oil and distillate numbers are supportive, the build in gasoline stocks is more on the bearish side," said Tim Evans, energy analyst at Citigroup Futures Research.
Traders also were eyeing an oil spill off Norway, potentially the second biggest in the nation's history.
Norwegian energy group StatoilHydro said about 25,000 barrels of oil spilled from a loading facility at its Statfjord field in the North Sea while loading onto a ship. But the spill would not affect output from its 100,000-barrel-per-day Statfjord field.
Goldman Sachs, the most active investment bank in energy markets, forecast U.S. crude would average $95 a barrel in 2008, up $10 from the previous projection, and hit $105 by the end of next year.
Good morning to all!
Yesterday's performance illustrates a strong foundation for this stock and I am pleased to be on board.
I anticipate additional news from the shareholders meeting next Monday so if anyone on this board is planning to attend could you please post your notes?
Pleased to be here and look forward to 2008!
Happy Holidays!
Investor 100
This stock rebounding like the Dow!
When the news came out that this deal was terminated I thought it was the right decision however the unknown would be what would happen to the PPS?
I must admit that it was unsettling to witness a drop in the PPS however I also knew I would buy more on any dip -I did.
The closing bell assured me that we have a strong base and a company with a bright future in terms of its product and services but a management team that is looking out for itself as well as its shareholders.
Today was true test for CMMI and it passed with flying colors!
What is in store for us next week at the shareholders meeting...hmmm
Pleased to be here for the long haul!
Cheers.
Investor 100
Thanks to the dip earlier this morning I bought more shares.
Next Monday shareholder meeting should offer some welcome news and updates!
Cheers!
investor 100
Applaud Managements Decision!
When I read the initial press release I enjoyed that fact that this would provide an additional revenue stream to CMMI and its shareholders.
However, doing so digging what I discovered was potential problems given the companies past regulatory issues and fines for leakage at some of its facilities - not good!
The last thing CMMI management needs is an acquisition with government officials and enviromental groups are on the other side of your table seeking more regulatory issues with fines!
Good to those at CMMI who were not blindsided by its revenue alone but looked at its history and potential problems.
Give up the 10K and move on to a more lucrative opportunity!
This gives me "no reason" to sell but perhaps an opportunity to buy given any significant dip.
Kudo's to CMMI management team for seeking long term opportunities rather than a short term gain!
Investor 100
Deep Oil - The Cost of Reaching America's Next Oil Source:
Nightly Business Report : January 2007
Next to baseball, grousing about high gasoline prices has become the national pastime . But, I learned in a recent trip to the Gulf of Mexico there is an upside to oil companies making bigger profits. They now have money to invest in deep water drilling.
The Gulf is a rich source of oil. We've been drilling there since World War II. There are currently about 4,000 oil platforms producing crude. But, analysts say the so-called easy oil -- beneath water depths of 1000 feet -- is starting to dry up. So, oil companies are searching in far deeper waters. The U.S. Department of the Interior's Mineral Management Service estimates there is up to 60 billion barrels of oil beneath the Gulf.
Today, nearly all integrated oil companies -- including Chevron, Shell Oil, British Petroleum, and ExxonMobile -- are drilling in deep waters. But, drilling in water depths of 4,000 to 5,000 feet is difficult and expensive.
For my "Deep Oil" series, I visited Chevron's Tahiti Field, which is expected to yield up to 500 million barrels of oil. Chevron drilled its first exploratory well beneath 4,300 feet of water and into the Tahiti Field in 2002. For the past year, the company has been spending $250,000 a day leasing a rig to drill production wells. It costs another $250,000 a day to staff and run the rig. Chevron estimates it will spend more than $2 billion at Tahiti before the field even produces a single drop of oil.
The cost of getting oil from deeper fields might seem prohibitive, especially when some of the market for that oil might disappear. After all, U.S. leaders -- including President Bush -- continue to discuss ways to reduce America's dependence on oil. Bush even used his Recent State of the Union address to promote ethanol and renewable fuels.
Though alternative sources of energy will become increasingly important, experts say those fuels aren't likely to dramatically reduce the demand for oil any time soon. In fact, the Mineral Management Service thinks the U.S. will continue to count on fossil fuels for 80 percent of its energy needs for the next 25 to 50 years.
So, it looks like the Gulf of Mexico should play an increasingly larger role in meeting our energy needs.
Part 2.
"Deep Oil"-Reaching for the Big Reserves
SUSIE GHARIB: More than two-thirds of the oil produced in the Gulf of Mexico now comes from water deeper than a thousand feet. But demand for crude is prompting oil companies to drill in far deeper depths. As we wrap up our series "Deep Oil," Diane Eastabrook looks at where the largest oil reserves are likely to be and the higher stakes involved in reaching them.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Onboard "Discoverer Deep Seas," workers prepare wells that Chevron thinks could produce up to a half billion barrels of oil starting next year. The Tahiti field, below 4,300 feet of water in the Gulf of Mexico, was a significant discovery for Chevron. But a potentially bigger field called Jack lies farther south, under 7,000 feet of water. Mickey Driver, Chevron's government and public affairs advisor, says Jack lies in a region of ancient rock formations.
MICKEY DRIVER, GOVERNMENT & PUBLIC AFFAIRS ADVISOR, CHEVRON: That is a trend that many people estimate contains between three to 15 billion barrels of oil. That runs for about 200 miles from the central Gulf of Mexico to the western Gulf of Mexico.
EASTABROOK: The U.S. Department of the Interior estimates the Gulf of Mexico's deep water regions could contain nearly 60 billion barrels of crude oil. At current consumption rates, that is enough fuel to meet U.S. oil demand for 7.5 years. But the oil industry faces significant barriers in bringing much of that oil to market. Deep water technology is one barrier. Oil service companies like Baker Hughes have had to strengthen drill bits for working in deep water's more challenging conditions. And Halliburton has added sensors and upgraded the abilities of its drill assemblies. But Tim Probert, Halliburton's senior vice president of drilling, evaluation and digital solutions, says further improvements are necessary for drilling in depths exceeding 7,000 feet.
TIM PROBERT, SENIOR VP HALLIBURTON: Drilling to those kinds of depths requires significant increases in pressure capability for the equipment, up to between 25,000 and 30,000 pounds per square inch. So, we continue to develop the technologies to make drilling in even deeper applications possible.
EASTABROOK: Drill rig shortages are another concern. Offshore drilling contractor Transocean has 30 deep water drill ships in operation and three more under construction, but Transocean CEO Robert Long says those rigs are all spoken for.
ROBERT LONG, CEO, TRANSOCEAN: Right now, we have no availability in 2007 or 2008. In 2009 we have about 20 percent of our capacity available for contract.
EASTABROOK: There is also a shortage of talent. Many workers left the oil industry in the late 1990s when crude prices tanked and exploration slowed. Now, companies like Mustang Engineering, which designs oil platforms, have too much work and not enough people to do it. AJ Cortez, Mustang's vice president of upstream business, says he is searching for a variety of engineers.
A.J. CORTEZ, V.P. UPSTREAM BUSINESS, MUSTANG ENGINEERING: We're looking at other industries as far as bringing in experienced engineers and we're doing a lot of hiring out of colleges, which there hasn't been a lot of that done until the last four or five years.
EASTABROOK: Experts predict oil demand will continue growing for several decades so that will support growth in oil technology, talent and equipment. Industry watchers say even if it isn't feasible to produce oil in deep water fields like Jack today, it probably will be in the future. Diane Eastabrook, NIGHTLY BUSINESS REPORT, in the Gulf of Mexico.
Rumblings of Recession / Weak Dollar /OPEC Production
NEW YORK (Reuters) - Oil prices rose $2 to above $89 a barrel on Thursday following OPEC's output rollover and as weakness in the U.S. dollar propped up commodities.
OPEC agreed on Wednesday to keep output restrictions in place, shrugging off calls from consumer nations for more supply to stem sliding stockpiles ahead of winter.
Algeria's oil minister on Thursday added the group could consider cutting back production if the U.S. economy falls into recession.
U.S. crude futures rose $2.00 at $89.49 a barrel by 1:49 p.m. EST after dipping as low as $85.82 earlier in the session, a level not seen since October 24. London Brent gained 94 cents to trade at $89.43 a barrel.
The rebound stemmed a sharp sell-off since the peak near $100 a barrel in late November propelled by growing uncertainty over the health of the U.S. economy.
Oil's turnaround came as the U.S. dollar weakened against the euro after the European Central Bank left interest rates on hold but President Jean-Claude Trichet warned of "strong upward pressure" on inflation. The Bank of England cut rates by 25 basis points.
"It's the dollar's weakness that has pushed prices higher here," said Tom Bentz of BNP Paribas Commodity Futures.
The falling dollar has supported commodities denominated in the currency this year, raising the purchasing power of non-dollar nations and reducing the relative value of commodity revenues into producer countries.
The weakening greenback, an influx of speculative cash and concerns over consumer nation inventories going into the Northern Hemisphere winter pushed oil up 40 percent from August to nearly $100 a barrel in late November.
Worries that economic problems in top oil consumer the United States could cut energy demand growth knocked oil 12 percent off a record $99.29 a barrel struck on November 21.
Concerns about the U.S. economy dragged oil lower on Wednesday, after OPEC rejected consumers' requests to raise production and kept output flat at a meeting in Abu Dhabi.
The decision came as government data showed an 8 million barrel drop in U.S. crude stockpiles last week to their lowest level in more than two years.
Stocks of distillate fuels, including heating oil, rose by 1.4 million barrels, however, and gasoline inventories rose 4 million barrels.
A report earlier this week that contradicted the Bush administration's assertion that Iran was intent on developing a nuclear bomb also eased concerns a standoff with the West could cut supplies from the OPEC nation.
(Reporting by Matthew Robinson and Richard Valdmanis in New York, Santosh Menon in London; Luke Pachymuthu in Singapore, editing by Matthew Lewis)
$3 Gas Is Here To Stay.
Bodes well for DPDW shareholders!
NEW YORK (CNNMoney.com) -- You better get used to $3 gas.
While the amount of money that Americans shell out at the pump has eased in recent weeks, the average price of a gallon of gasoline has hovered around the $3 threshold.
And analysts say that is likely to continue into next year.
Traditionally, the price of gas peaks during the summer driving season, then gradually tapers off as the weather cools, then starts climbing again in the spring.
For example, in 2006, gas hit a high of $3.04 in August, then sank 38 percent to $2.20 by October.
This year, prices have followed the seasonal pattern but have remained elevated.
After hitting a high of $3.21 in May, the price of gas declined 17 percent to $2.75 in September. Since then, prices have shot back up above $3.
Gas prices have been pressured by the relatively high price of crude oil, which has flirted with $100 a barrel in recent months and is up 50 percent in the past year.
Even though crude prices have backed away from the $100 mark in recent weeks, the current price is still abnormally high.
"Eight-eight dollars is still a heck of a lot to pay for a barrel of crude oil," says Stephen Schork, publisher of the newsletter the Schork Report.
In a recent report, AAA fuel analyst Geoff Sundstrom wrote that the national average gas price "will stay about where it is now" through the end of the year, barring any significant change in the price of oil.
However, Sundstrom said Thursday that he sees some recent signs that make him believe oil prices could come down, but that prices will still be high "on a historical level."
For drivers, the only numbers that really matter are the ones that hang on clapboard signs at filling stations.
"With oil prices hovering near $90," Schork said, "gas is not likely to go below $3 a gallon."
Hit the Road Jack....do not come back!
1) Your comments are clearly dis-respectful to all that have provided you the DD to make money!
2) An apolgy to the board and Brikk is the right thing to do!
3) To talk on other boards about another stock is tasteless!
4) No need to respond to me I put you on ignore.
Investor 100
Good morning @ CMMI
Investor 100
Congress has reached agreement on a long-debated bill that will raise fuel efficiency.
NEW YORK (CNNMoney.com) -- More hybrids. More diesels. Smaller engines and fancier technology. And an initial sticker price increase that could total a couple thousand dollars.
Those are the likely outcomes now that Congress has decided to increase the national fuel efficiency standards to 35 miles a gallon by 2020, from the current average of 25.
The House and Senate, after months of negotiation and lobbying, agreed to the new standards late Friday night. The deal should spur resolution next week of a broad energy bill that includes proposals to use more biofuel in the nation's gas mix, eliminate tax incentives for the oil industry and require utilities to buy more renewable energy.
But the most closely-watched issue was fuel efficiency. The new standards could alter the economics of driving: The cost of new cars would at first increase but over time be offset by savings at the pump.
"The cost of the technology is dwarfed by the oil savings," said Ann Mevnikoff, Washington representative for the Sierra Club. "I think the American people would rather put that money into technology rather than see it disappear in oil."
Mevnikoff said by 2020 the country could save 1.2 million barrels of oil a day, or about the same amount the country currently imports from the Middle East. Even factoring in the technology costs, she said the savings would amount to $26.5 billion a year.
But the upfront technology costs could be substantial.
If the measures are enacted, the auto industry would give a strong push to its hybrid vehicles. Hybrids, which run on a combination of gasoline and electric power, usually cost about $2,000 to $3,000 more than conventional vehicles.
Hybrid vs. diesel vs. flex-fuel
Detroit would also likely roll out more diesel vehicles, which would also cost $2,000 to $3,000 more than similar gasoline-powered vehicles but would get much better gas mileage.
Other options include heavier marketing of smaller cars with smaller engines, and increased use of "cylinder deactivation" - technology that automatically shuts off cylinders in larger engines when full power isn't needed.
"The challenge for us is to make these technologies more attractive to consumers and get them to purchase these vehicles," said Gloria Bergquist, spokesperson for the Alliance of Automobile Manufacturers, which includes most of the big domestic and foreign automakers. "There may be additional costs to those, which can start at a couple of thousand dollars. But consumers will benefit in the long run."
The domestic auto industry had long opposed fuel efficiency increases saying they would be too expensive and would compromise safety by pushing consumers toward smaller, lighter vehicles.
The measure seems likely to pass now that key congressional Democrats have reached an accord.
If legislation passes and is signed by President George W. Bush, it would mark the first major increase in U.S. fuel efficiency standards in more than three decades, said Mevnikoff.
It would also bring the United States closer in line with other countries, but would by no means make it the leader.
Vehicles in China average around 30 miles per gallon, a figure that is set to rise to about 35 miles per gallon by 2009, according to the Union of Concerned Scientists.
In Europe vehicles average about 37 miles per gallon and are set to get 50 miles a gallon by 2012. In Japan they currently average 45 miles per gallon.
Fleet-wide averages are so much better overseas because, by and large, they drive smaller cars, likely the result of much higher fuel costs. In Norway, for example, a gallon of gas costs over $8.
There's been some debate in this country as to whether higher fuel efficiency standards would result in people using less gas. Some argue a simple gasoline tax would be better, as American's will merely see their newfound mileage gains as a chance to drive more.
Investor 100
Good morning @ CMMI!
Looking like a strong morning!
WallStreet Journal Article Today is very interesting and will pave the way for ethanol and alternative fuels.
Energy Bill Talks Turn to Alternative Fuels
If this bill is passed by the Senate next week which is asking oil refiners and others to use more ethanol and other alternative fuels this will bode well for CMMI!
The House proposal is asking for production of 20.5 billion gallons of ethanol and fuel based on farm wastes and other biological materials by 2015. The Senate is calling for 36 billion gallons by 2022.
Lawmakers near agreement on tougher auto-efficiency standards which is positive for us-alternative fuels would be key in this sector!
If the House /Senate pass this bill next week that is clearly a positive message for all of us at CMMI and others in this sector!
It would not hurt to contact your representatives suggesting they pass this bill next week - I plan too!
Cheers!
Investor 100
Thanks WWeeaazz!
Solid article of information that relates well to DPDW!
"The supply-demand situation is extremely tight," said analyst Neal Dingmann of Dahlman Rose & Co. "The subsea market is probably one of the tightest, if not the tightest in terms of demand."
The dip in the PPS opens the window of opportunity for those to add to their position ( myself included ) as well as first time investors /traders.
The future is bright for those that know what they own!
Cheers!
Investor 100
Shareholder Conference Call: December 5th!
If you are a shareholder this is by far the most important call you should plan to attend.
Having spoken with CEO Tony Roth he is eager to have as many shareholders join the call and ask questions.
We have anew CEO new leadership that wants shareholder feedback so plan to attend!
Investor 100
Company to Provide 4th Quarter 2007 and Full Year 2008 Operational and Financial Outlook, Including Revenue, EBITDA and Net Income
Commerce Planet, Inc. (OTCBB:CPNE) will hold a conference call with a question and answer session on December 5th, 2007 at 1:30 p.m. PST to provide its outlook for 2008.
Tony Roth, Chief Executive Officer, stated, “As announced on November 14th, 2007, we will conduct an open conference call with shareholders and the financial community on December 5th, 2007, to discuss our strategic long-term objectives, 4th quarter 2007 and 2008 operations and financial outlook. We look forward to sharing our outlook and our diversification plans for our business as we focus more of our efforts in securing e-commerce business clients with recurring revenue streams and enhanced margins while maintaining a healthy flow of our traditional online membership revenues.”
Conference Call
The Company will host a conference call on Wednesday, December 5, 2007 at 1:30 p.m. Pacific (4:30 p.m. Eastern). Participants may access the call by dialing 888-213-3754 (domestic) or 913-981-4903 (international). In addition, the call will be webcast via the company's website at www.commerceplanet.com, Investor Relations, where it will also be archived. A telephone replay will be available through Wednesday, December 12, 2007. To access the replay, please dial 888-203-1112 (domestic) or 719-457-0820 (international), passcode 1046043.
Good morning to all.
Investor 100
Thanks Joe Smith!
I enjoyed the links on Pimp My Ride (post 3813)
Anyone that has not reviewed that posting with links should check it out!
Perhaps CMMI should hire Arnold as their spokesman!
Cheers!
Investor 100
This Article ran on CNN News last week!
Neil Young was interviewed along with his mechanic Goodwin!
WICHITA, Kansas (CNN) -- On a beautiful, crisp late fall afternoon, rock icon Neil Young took his 1959 Lincoln Continental for one last spin before a team of mechanics ripped out its gas-guzzling engine to make way for an electric motor.
Neil Young watches as mechanics remove the engine from his 1959 Lincoln Continental.
Car buffs may think it's sacrilege to tear apart an automotive classic, but Young wants it to have a new life as a fuel-efficient hybrid.
"If we're going to make a difference, truly make cars more environmentally friendly," Young said, "we have to make that emotional connection."
Young said everyone has a connection with an old car like the Lincoln.
It only took about an hour for Johnathan Goodwin and his four-man team to pry the engine out of Young's Lincoln. He'll have the new engine installed in 45 days.
Talking about the old motor, Goodwin says, "Of course, it's not fuel efficient at all. It's a big polluter, one of the biggest rawest forms."
The Lincoln's new electric engine will power the car and when it begins to lose juice, Young will simply flip a switch and the car will run on biodiesel fuel until the electric motor is recharged. "A 19-foot-long car, the longest car ever made at its time. Two and half tons, the heaviest car at its time," Young said, "And it can get 100 miles to the gallon, not 10 miles to the gallon."
Young renamed his car Linc-Volt, and is making a movie about the transformation, which he hopes to release next year.
Goodwin is making a name for himself -- and his company, H-Line Conversions -- by turning gas-guzzling behemoths like Hummers, Cadillac Escalades, Jeeps and other big American cars into clean-power machines.
The first thing he does is remove the old inefficient engine -- even if it's a brand new vehicle -- and replace it with a diesel engine that can run on biodiesel.
"It's the transformation of what I call old technology to new technology," Goodwin says.
Here's his analogy: Remember 15 or so years ago when a cellular phone was the size of a brick. Now it's a lot smaller, because the industry underwent a ton of changes over the years.
The same kinds of advances are made in engines. But since it's so expensive, changes to cars are made in leaps, not tiny steps.
What's the drawback of his method? You guessed it. Cost.
"It's not cost-effective for someone to run out and spend $40,000 to double the fuel economy, but I have no shortage of customers," Goodwin says.
Including California Gov. Arnold Schwarzenegger, who's having his Wagoneer converted to biodiesel.
Goodwin, 37, drives a 1987 gas burning Wagoneer, rents his home and will sheepishly tell you he didn't graduate from high school.
Expect to hear a lot more about Goodwin in the future.
Companies are knocking down the door to work on projects with him.
Goodwin's developing a download that can be installed in a car's computer and improve the mileage by five to seven mpg without losing performance. He expects it to cost about $200.
Ask Goodwin what his favorite project is, and he answers, "the next one" but the Linc-Volt project has been special. "We're going to prove you can have your cake and eat it too so to speak," Goodwin proudly boasts. E-mail to a friend E-mail to a friend
Governor Arnold "Terminator" Schwarzenegger support Bio-Diesel!
This star power actor/governor is big on bio-diesel and when he speaks people listen!
Go Arnold - Go CMMI!
Apr 23, 2007 ... Schwarzenegger had his 1965 Chevy installed with an environmentally friendly 800 horsepower engine that runs on biodiesel fuel, on MTV's "Pimp My Ride." ...
Published Sun, Apr 22, found via Google News
Cheers,
Investor 100
Happy Thanksgiving to you all!
Investor 100
Happy Thanksgiving to all!
Cheers
Investor 100
Good Morning & Happy Thanksgiving!
Cheers!
Investor 100
Happy Turkey Day to All!
Cheers
Investor 10
Thanks for the DD @ DPDW!
Safe travels too.
Investor 100
Solid Performance @ CMMI!
For an early growth company showing profit is very positive given the fact many companies much larger with many years in business are losing money - Look at the Dow 500!
Looking for the acquisition to close around December 10th, 2007 and then onto 2008 with more positive activities!
Cheers!
Investor 100
Form 10QSB for CONSOLIDATED MEDICAL MANAGEMENT INC
15-Nov-2007
Quarterly Report
ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATIONS.
The following discussion should be read in conjunction with our unaudited consolidated interim financial statements and related notes thereto included in this quarterly report and in our audited consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") contained in our Form 10-KSB for the year ended December 31, 2006. Certain statements in the following MD&A are forward looking statements. Words such as "expects", "anticipates", "estimates" and similar expressions are intended to identify forward looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
RESULTS OF OPERATIONS
For the quarter ended September 30, 2007, CMMI had net income of $66,863 or $0.001 per share. For the same period in 2006, our net loss was $(57,000).
We incurred a net loss of $(139,532) for the nine months ended September 30, 2007. This compares to a net loss of $(171,000) for the same period in 2006.
Consulting expenses continued to be the greatest detractor from our financial results. For the nine months ended September 30, 2007, these expenses amounted to $797,303.
OFF-BALANCE SHEET ARRANGEMENTS
There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.
Good Perspective Ronpopeil!
I agree with your assessment and am convinced that all is well at DPDW given the facts.
Perhaps its a good reminder that DR initially covered this stock unsolicited with a PPS projection of $1.50 and subsequently raised it $2.50. We got to $1.50 and very close to $2.50.
For every seller we have buyers and this will pass and I anticipate we will have better days ahead - perhaps as early as today given that other announcements like MAKO Tech deal has yet to be announced!
I am pleased to add to my position!
GLTA
Investor 100
Feeling Good @ CMMI!
1) Management has proven to be confidant and shareholder friendly
2) PPS has slow and steady rise!
3) Volume is consistent and rising.
4) Steve / IR available and willing to answer questions.
5) This sector has world attention!
6) Recent acquisitions = future growth big time!
7) Brikk & Company has some great DD going here too!
I like our chances, am long, and buying more on dips!
Cheers.
Investor 100
New CEO Makes Right Move!
This will be the most important conference call with 2008 guidance and a Q&A session so if you are hanging on get some good questions prepared!
New management wants to hear from us as well as tell us what the plans are in 2008!
1) Details on perhaps an R/S.
2) Company stock buy back for 2007.
3) EPS in 6-12 months?
4) Iventa acquisition details?
Commerce Planet Announces Conference Call to Provide Detailed Strategic Plan and 2008 Revenue, EBITDA and Net Income Outlook
Management Schedules December 5th Call Including Question & Answer Session
Commerce Planet, Inc. (OTCBB:CPNE) announced its plan to hold a conference call with a question and answer session on December 5, 2007 at 1:00 p.m. PST to provide its outlook for 2008.
Tony Roth, Chief Executive Officer, stated, “We are completing our full year 2008 internal plan now and look forward to sharing our outlook with shareholders and the financial community on December 5th, 2007. It is our intent to hold open conference calls with our shareholders each and every quarter. We are very enthusiastic about the diversification plans for our business as we focus more of our efforts in securing e-commerce business clients with recurring revenue streams and enhanced margins while maintaining a healthy flow of our traditional online membership revenues.”
Roth further stated, “Our plan for the capital markets is to elevate the understanding of our business to the shareholders and marketplace, to consider a reverse split if necessary to achieve the requirements of NASDAQ SmallCap and to conservatively effect such a split if necessary to obtain greater national coverage, enhanced distribution of our stock, and the valuation that we believe our Company deserves.”
Conference Call
The Company will host a conference call to discuss strategic long-term plan and 2008 financial outlook on Wednesday, December 5, 2007 at 1:30 p.m. Pacific (4:30 p.m. Eastern). Participants may access the call by dialing 888-213-3754 (domestic) or 913-981-4903 (international). In addition, the call will be webcast via the company's website at www.commerceplanet.com, Investor Relations, where it will also be archived. A telephone replay will be available through Wednesday, December 12, 2007. To access the replay, please dial 888-203-1112 (domestic) or 719-457-0820 (international), passcode 1046043.
About Commerce Planet, Inc.
Commerce Planet, Inc. is an internet-based media company that offers online media products, lead generation services and direct marketing tools to its client partners. Commerce Planet offers an internet turnkey media solution through its network of wholly owned subsidiaries, which includes Consumer Loyalty Group, LLC, Legacy Media, LLC, and Iventa, LLC. In combination these services are designed to address the needs of client partners, including membership loyalty programs, direct response consumer marketing, affiliate list management, email deployment, live chat software-based services, direct phone sales and customer service, and printing services. To find out more about Commerce Planet (OTCBB:CPNE), visit our website at http://www.commerceplanet.com.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements as to management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products and services or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
It should not comes as suprise!
yesterdays news was not pretty given that the performance of CPNE has been stellar in prior quarters - however I accept the 3rd quarter and look forward to 2008.
The 25% in the PPS gives us to average down which is what I have done after learning that the new CEO has some changes coming!
I have contacted the corporate offices seeking 2008 guidance and why a Q& A session was not available yesterday.
I am told that we will have that opportunity on the next round.
That said, 3rd quarter over, new CEO, revised business model and a flat PPS I must stay on to see what happens...it cannot get worse!
GLTA
Investor 100
Press Release: Management Proves Its Worthy To Shareholders!
Clearly a 'bullish" sign from management to the shareholders, themselves as leaders at CMMI, and the bright future ahead in the coming months and years!
CMMI Announces 18-million Share Warrant Reduction
HOUSTON, Nov. 13 /PRNewswire-FirstCall/ -- Consolidated Medical Management, Inc. (OTC Bulletin Board: CMMI) today announced that two of its directors relinquished warrants entitling them to purchase up to 18,000,000 shares.
Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer and director, and G. C. 'Sonny' Wooley, the Company's chairman, had each held common stock purchase warrants permitting them to purchase up to 12,000,000 shares each of CMMI common stock in lieu of compensation accrued during the Company's past non-operational period.
However, in a strong show of support for the Company's future, Mr. Byrd and Mr. Wooley each gave up 9,000,000 of the 12,000,000 shares they were authorized to purchase under the warrants. As a result, once the warrants are exercisable, the Company and its shareholders will realize an 18,000,000 share net reduction in the fully diluted share count.
'When we accepted the warrants earlier this year, we couldn't have predicted the Company's current rate of growth,' commented Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer. 'Mr. Wooley and I believe the Company will benefit many times over from the warrant reduction, further accelerate our growth strategy, and send a clear message to our shareholders that we intend to grow both the Company and shareholder value.'
About Consolidated Medical Management, Inc.
Consolidated Medical Management, Inc. (CMMI) is a wholesale fuel distributor and fuel terminal operator based in Houston, Texas. CMMI not only offers storage, delivery, and blending of petroleum products such as gasoline and diesel fuel, but also offers biodiesel to the growing 'green' fuels market. Biodiesel is a clean burning, nontoxic, sulfur-free, and biodegradable alternative fuel for compression-ignition (diesel) engines made from animal fat or vegetable oil.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered 'forward-looking statements,' generally preceded by words such as 'plans,' 'expects,' 'believes,' 'anticipates,' or 'intends.' We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Consolidated Medical Management, Inc., urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
SOURCE Consolidated Medical Management, Inc
I could not have said it better - JoChef!
That is why I bought more yesterday and added to my position today!
Management has confirmed what many of us have believed for sometime!
Cheers
Investor 100
Good morning to all CMMI's!
Great day to accumulate more DPDW shares!
Cheers.
Investor 100