full-time investing; total portfolio up over 130% in 2009; but 2010 sucks!
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TGA: Rarer than a $3 bill and hotter than a $2 pistol:
Has been on a very strong uptrend since bottoming mid-Dec. Today it broke thru $13 vs. being under $7 just 4 months ago.
Great management. Working hard to increase production by large percentage in Egypt this year.
Excellent risk:reward for this growing company.
MMT.v/MAUXF.pk March 2012 Operational Update
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Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to provide an update on Umusadege field production and drilling operations.
-
March 2012 Production Update
-
Umusadege field production during the month of March averaged 12,176 bopd based on production days. Umusadege field downtime during March 2012 was less than one day. Total crude oil deliveries into the export storage tanks from the Umusadege field for the month of March, adjusted for estimated pipeline losses, were approximately 351,400 barrels.
-
UMU-10 Well
-
Following the successful completion of the UMU-9 well tests, which resulted in a combined stabilized flow rate of 11,718 bopd from the five sands tested, drilling operations are now moving to UMU-10. The NRG 201 drilling rig is skidding to the UMU-10 well slot on the current drilling pad. The primary objectives of the UMU-10 well will be the oil-bearing sands identified in the 8 1/2 inch deviated hole section of the UMU-9 well.
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Qua Ibo Field Termination
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Mart also announces that it has entered into an agreement pursuant to which Mart and Network Exploration & Production Nigeria Limited have amicably terminated Mart's participating interest in the Qua Ibo field. Under the terms of the agreement, Network has assumed responsibility for outstanding liabilities of approximately USD $3.2 million for the Qua Ibo field and has also paid Mart a USD $1.0 million termination fee.
-
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
More good news for GORO today on record quarterly production (preliminary results). Should make it to $30 when results are officially stated.
Ithaca's FPSO, the BW Athena, has docked at Peterhead, Scotland. Should be filling with oil in a couple of weeks. Not sure who Ithaca will be owned by at that time, but rumor has it that Iain, the CEO, is celebrating Easter in Kuwait this year.
http://s56.photobucket.com/albums/g163/burnedwell/BW%20Athena/
GORO up over 8% today, supposedly due to analyst writeup in a newsletter. Post on GORO board says Matt Badiali mentioned GORO favorably in his S & A Resource Report ($99/yr). Anybody able to post his comments on GORO, please do.
Here is the post on GORO board mentioning Matt Badiali's recommendation yesterday.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74093197
I've owned some GORO for a couple of years now.
Regards,
'peeker
AAA.v/ALLRF.pk has stunk lately.
52wk High
2.50 on 6/20/2011
52wk Low
0.56 on 4/5/2012 (That's TODAY)
Anyone understand why it has failed to live up to its optimistic expectations?
GORO UP $2+ TODAY? W O W
Haven't seen any news, so must just be due to $10 spike in gold OR somebody knows something that hasn't been made public yet.
Mart Resources, Inc.: UMU-9 Well Test Results
Combined tested flow rate of 11,718 barrels of oil per day ("bopd") from the five sands tested in UMU-9 well consisting of: - 2,576 bopd stabilized flow rate achieved from the commingled XIIIa and XIIIb sands - 3,600 bopd stabilized flow rate achieved from the XIIa sand - 1,300 bopd stabilized flow rate achieved from the X sand - 4,242 bopd stabilized flow rate achieved from the XIV sand.
CALGARY, ALBERTA--(Marketwire - April 3, 2012) - Mart Resources, Inc. (TSX VENTURE:MMT.V - News) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited (together "the Co-venturers") are pleased to announce the UMU-9 well flow rate test results for the XIIIa, XIIIb, XIIa and X sands.
Flow Test Results
During the commingled test of the XIIIa and XIIIb sands, the well flowed 42 API gravity oil through 3 1/2 inch tubing on a 28/64 inch choke at a flowing tubing pressure of 350 psi. Basic sediment and water (BS&W) was 1.0 % with no associated gas. A stabilized flow rate of 2,576 bopd was recorded from the commingled 16 foot XIIIa and 15 foot XIIIb sands.
The test of the XIIa sand was conducted through the 3 1/2 inch tubing on a 30/64 inch choke at a flowing tubing pressure of 290 psi. The well flowed 35 API gravity oil with BS&W of 0.8% with no associated gas. The 30 foot XIIa sand flowed at a stabilized test rate of 3,600 bopd.
The test of the X sand was conducted through the 3 1/2 inch tubing on a 28/64 inch choke at a flowing tubing pressure of 160 psi. The well flowed 40 API gravity oil with BS&W of 0.6% and an oil/gas ratio of 43 standard cubic feet per barrel. The 10 foot X sand flowed at a stabilized test rate of 1,300 bopd.
As previously announced, the test of the XIV sand was conducted through a 3 1/2 inch tubing on a 32/64 inch choke at a flowing tubing pressure of 480 psi. The well flowed 43 API gravity oil with BS&W of 0.2% and an oil/gas ratio of approximately 90 standard cubic feet per barrel. The 46 foot XIV sand flowed at a stabilized test rate of 4,240 bopd.
The combined flow rate of the five sands tested in the UMU-9 well is 11,718 bopd.
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
INVESTOR RELATIONS:
Investors are also welcome to contact one of the following investor relation's specialists for all corporate updates and investor inquiries:
FronTier Consulting Ltd.
Mart toll free # 1-888-875-7485
Attn: Sam Grier or Caleb Gilani
Email: inquiries@martresources.com
Except where expressly stated otherwise, all production figures set out in this press release, including bopd, reflect gross Umusadege field production rather than production attributable to Mart. Mart's share of total gross production before taxes and royalties from the Umusadege field fluctuates between 82.5% (before capital cost recovery) and 50% (after capital cost recovery).
CEN.to/CENJF.pk: Nice bounce today on good news about hitting producible Miocene in BBS well, which strengthens their argument that there is a Miocene connection between BBN and BBS.
bbotc, didn't realize you were gambling VVUS anymore.
I bought some today at 22.30 just to see if those four investment houses know anything. If not, I can do like nelson, blame you or seasonality or the FDA.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73880512
Regards, and good luck with your VVUS weight loss program (just don't let it cause you to lose weight in the back pocket)
'peeker
10:32 ET VVUS
Vivus: In-line AdComm enables focus to return to Qnexa PDUFA - JMP Securities
JMP Securities is confident that the FDA will not require Vivus to conduct a pre-approval cardiovascular outcomes trial for Qnexa based upon their view that: 1) the totality of data for the drug is supportive of cardiovascular benefit and not risk, and 2) the precedent of guidance change for diabetes drugs in 2008. They continue to believe that the risk of a pre-approval outcomes trial requirement is less than 10% and believe the most significant risk to a delay on the April 17 PDUFA is a need for additional time to finalize the risk evaluation mitigation strategies (REMS). They reit. a Market Outperform rating and $45 target.
10:26 ET VVUS
Vivus: Summer Street does not believe that there will be any additional burdens placed on VVUS' Qnexa following panel
Summer Street notes that the FDA's Endocrinologic and Metabolic Drugs Advisory panel favored enrolling patient populations in pivotal clinical trials that are enriched with patients at high risk for cardiovascular disease. The panel favored a two-stage cardiovascular outcome study for all obesity drugs, whether they have shown a cardiovascular risk signal or not. The firm does not believe that there will be any additional burdens placed on VVUS' Qnexa, as the same panel has already recommended VVUS perform a post-approval cardiovascular safety study. They maintain their view that the FDA will approve Qnexa by the PDUFA date (April 17th ) and that Qnexa will be a commercial success.
07:30 Mar-12 07:48 ET VVUS
Vivus: Confusing and poorly run vote, but still think Qnexa goes through - Cowen
Cowen believes the FDA obesity panel's 17-6 vote in favor of conducting a cardiovascular outcomes trial (CVOT) or meta-analysis for compounds without a signal of cardiovascular harm could be interpreted as a negative for VVUS, since if the FDA were to follow the panel's strict recommendation, the company may be required to start a CVOT and wait until at least interim data become available before Qnexa is approved. However, they believe that the FDA will either not apply the panel recommendations to Qnexa since it has already submitted its NDA, or that the FDA will only apply the post-approval CVOT requirement. Therefore, they conclude that it is likely VVUS shares will trade sideways to slightly up leading up to the April 17th PDUFA, and assuming approval, they expect shares to trade to the high-20s. They reit a neutral rating due to residual risk for a CRL and post-approval risk associated with launch and commercialization.
06:56 ET VVUS upgraded to Buy from Hold at Brean Murray
dr_airtime, thanks for this post on AUN.v/AUNFF.pk which I bought earlier this week for .88ish before I realized they would shortly have the 50million $.72 shares available for trading. After seeing your post, followed by the positive PR from the company last nite, I took the opportunity to unload my AUNFF.pk a little over .92 this morning. It was a small position for me, but I appreciate posts such as yours that alerted me to the issue.
That said, I am out of AUN.v/AUNFF.pk for now but watching closely to see how it reacts to all the newly tradeable shares. Like you suggested we should see it settle a bit lower than .90 certainly, and perhaps head closer to high .70s or low .80s before resuming its upward momentum. One would expect that the opening of the mill in a couple of months should take it back up to over a dollar again, assuming they don't run low on cash before putting their high-grade ore thru the ore crushers.
15:35 VVUS
Vivus: FDA Panel votes 17 for VS 6 against in vote regarding requirement of cardiovascular outcomes trials for drugs without a theoretical risk or signal for cardiovascular harm
The full question read: Do you believe that obesity drugs without a theoretic risk or signal for cardiovascular (CV) harm should be required to rule out a certain degree of excess CV risk with a cardiovascular outcomes trial (CVOT) or an appropriately sized meta-analysis of phase 2 and 3 MACE data?
This strong yes vote could be seen as a negative for weight loss drug companies, who now may have to run additional CVOTs to convince the FDA of a drug's safety. Companies impacted by this vote includes Vivus (VVUS), Orexigen Therapeutics (OREX), and Arena Pharmaceuticals (ARNA).
IAE.to/IACAF.pk: Ithaca Energy profit falls, takeover talks continue
Thu Mar 29, 2012 5:21am EDT
* FY profit before tax $37.1 mln
* Talks on with interested buyers
(Reuters) - Ithaca Energy Inc posted a slight fall in profit, and the oil and gas producer said it continued to be in discussions with parties interested in acquiring it.
Earlier this month, the North Sea-focused company said it had received unsolicited interest from several suitors, which analysts said could result in a deal valued at about C$868 million ($871.00 million).
The Sunday Times reported that Ithaca was in advanced takeover talks with Kuwait's national oil company and that the two had been in negotiations for several months.
Ithaca's 2011 pretax profit fell to $37.1 million from $38 million last year.
Net proved and probable reserves estimates rose 9 percent to 50.25 million barrels of oil equivalent as on Dec. 31.
Oil and gas production in the UK North Sea has passed its peak, as the larger and easier-to-tap deposits have been pumped out. But geologists say there were billions of barrels left to produce in smaller accumulations.
Ithaca also said it expects net export production to be about 4,200 barrels of oil equivalent per day in the first quarter.
The London-listed shares of the company were up 4.17 percent at 199.625 pence at 0846 GMT on Thursday on the London Stock Exchange.
They have gained about 35 percent since Ithaca first said it had received a confidential buyout proposal.
CEN.to/CENJF.pk Coastal now at $15.80; down another buck today; might say it's drifting lower that a dry Thai Miocene.
IAE.v/IACAF.pk Being courted by Kuwait Foreign Petroleum Exploration, among others.
http://ca.reuters.com/article/businessNews/idCABRE82O0E620120325
Kuwait national oil firm eyes Ithaca Energy-report
Sun Mar 25, 2012 2:01pm EDT Print This Article
LONDON (Reuters) - Kuwait's national oil company is in advanced takeover talks with North Sea-focused oil and gas explorer Ithaca Energy (IAE.TO: Quote) (IAE.L: Quote), the Sunday Times reported.
Kuwait Foreign Petroleum Exploration, the international arm of the Middle Eastern state's oil operation, has been in negotiations with Ithaca Energy for several months, the newspaper reported.
Earlier this month, Ithaca said it had received unsolicited interest from several parties, which analysts estimated could result in a deal valued at about C$868 million ($869.52 million).
Neither company could be immediately reached for comment. ($1 = 0.9983 Canadian dollars)
(Reporting by Neil Maidment, Editing by Gary Crosse)
08:24 SUMRX
Gapping up/down: ORCL +2.7%, SAI +0.6% following earnings/guidance, LNKD +6.4%... BHI -5.1%, JBL -2.6% following earnings/guidance, Select oil/gas related names lower
Gapping up:
In reaction to strong earnings/guidance: FSII +14.1%, OMN +11.8%, USG +7.5%, KKD +3.7%, ORCL +2.7%, SAI +0.6% (light volume, also announces initiation of a quarterly dividend at $0.12/share, upgraded to Sector Perform from Underperform at RBC Capital), ATU +0.5% (light volume).
Other news: ASGN +24.3% (to acquire Apex Systems), LLEN +16% (light volume, signed a strategic sales agreement with AVIC International Coal Logistics Co. to expand its efficiency and coal sales throughout the Guizhou province), YPF +10.1% (strength attributed to reports that Argentina Cabinet Chief will not nationalize YPF), CVBF +9.3% (will replace Wright Express in the S&P SmallCap 600 index), LXRX +9.1% (FDA grants Lexicon orphan drug designation for telotristat etiprate for the Treatment of Carcinoid Syndrome), CHL +3.9% (still checking), LGF +3.4% (Lions Gate Entertainment CEO on CNBC notes that Hunger Games movie broke advance ticket sales record), HIG +3.2% (to wind down its annuities business; expects to take a related after-tax charge of $15 mln to $20 mln in Q2 of 2012), MILL +2.2% (executed a new contract for the sale of its Alaska oil), MU +1.8% (Micron has offered $1.5 bln for Japan based Elpida Memory, according to reports), NLY +1.3% (announces Q1 dividend of $0.55 per share), CAT +0.4% (to increase China excavator production by 80%, according to reports).
Analyst comments: LNKD +6.4% (upgraded to Buy from Neutral at Goldman), OPEN +3.9% (upgraded to Buy at The Benchmark Company), ARUN +2.7% (initiated with a Buy at Auriga), NI +1.1% (upgraded to Buy from Hold at KeyBanc), ACN +0.7% (ticking higher, upgraded to Hold from Sell at Societe Generale).
Gapping down:
In reaction to disappointing earnings/guidance: BHI -5.1%, JBL -2.6%, GIS -0.7% (light volume).
A few metals/mining stocks trading lower: BBL -1.4%, BHP -1%, RIO -0.7%, MT -0.6%.
Select oil/gas related names showing early weakness: HERO -3.1% (announces public offering of up to 20 mln shares of common stock and private placement of senior secured notes and senior notes to fund acquisition of the drilling rig Ocean Columbia; to acquire drilling rig from Diamond Offshore Drilling (DO) subsidiary for $40 mln), HAL -2.1%, SPN -1.3%, WFT -1.2%, E -0.8%, STO -0.7%, SLB -0.7%.
Other news: CXS -8.9% (declared Q1 common stock cash dividend of $0.27 per common share, prior $0.35 per common share), AGO -4.4% (Assured Guaranty responded earlier to Moody's announcement of review for possible downgrade), ARIA -3.7% (Oncologic Drugs Advisory Committee votes *not* in favor (1 for VS 13 against) of recommending Taltorvic (ridaforolimus) for FDA approval), PHG -3.3% (still checking), YGE -2.3% (comments on U.S. Department of Commerce's preliminary decision on anti-subsidy tariffs for Chinese Solar Cells and Modules - says 'we are not dumping, nor do we believe that we are unfairly subsidized'), RENN -0.9% (following Renren CEO comments on CNBC), NLSN -0.4% (prices 30 mln share of common stock by existing shareholders at $30.25 per share).
Analyst comments: PWRD -3.5% (downgraded to Neutral from Buy at Nomura).
JAX: Nice move but it has a wide bid/ask, and the chart looks like a cobra standing up and ready to strike. It would take a snake charmer to play with this thing.
Low float potential, but it looks like it has already had its run and is due for submersion.
SCKT... wouldn't you think they'd do better to focus their SW development on "apps" for Android tablets and phones as well as Windows8 tablets and phones? The AAPL certification is nice, but Android apps don't require certification, and I'm doubting Windows8 apps will require certification either.
Somehow the SOMO 655 seems like it would cause writedowns in future vs. large revenue increase.
Paradigm shift! As time goes on, it seems that today's laptop is no longer a big advantage; new tablets (with all the built-in flash memory and long battery life) are replacing laptops for many applications.
I say the above w/o any understanding of how big the HP iPaq user base was/is.
SCKT up 50% on the new product news.
Wish I owned this one afterall (and I would have just sold it).
Mart news (MMT.V) on UMU-9 flow rates:
...........(BEWARE THE IDES OF MARCH!)..........
CALGARY, ALBERTA--(Marketwire - March 15, 2012) - Mart Resources, Inc. (TSX VENTURE:MMT.V - News) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited (together "the Co-venturers") are pleased to announce the initial flow rate test results for the UMU-9 well and an update on February 2012 Umusadege field production.
UMU-9 Well Test Results
As previously announced, the UMU-9 well encountered gross hydrocarbon pay of 430 feet from nineteen oil sands and one gas sand. Five of the UMU-9 sands have now been perforated and completed. The first extended flow test has been conducted on the 46-foot thick XIV sand at a stabilized rate of 4,240 bopd.
During the test of the XIV sand, the well flowed 43.3 API gravity oil through 3 1/2 inch tubing on a 32/64 inch choke at a flowing tubing pressure of 480 psi. Basic sediment and water (BS&W) was 0.2 % with a gas/oil ratio of approximately 90 standard cubic feet per barrel.
Three UMU-9 well tests remain including the co-mingled testing of the XIIIa and XIIIb sands via the 3 1/2 inch tubing, followed by individual testing of the XIIa and X sands via the 2 7/8 inch tubing.
Further updates will be provided on these remaining targeted sands once testing has been completed and results are available.
February 2012 Production Update
Umusadege field production based on producing days during the month of February averaged 11,229 bopd. Umusadege field downtime during the month was approximately 6.5 days, primarily due to technical problems at third party export pipeline facilities. The average oil delivered to export storage tanks averaged 8,728 bopd.
Wade Cherwayko, CEO of Mart Resources stated: "Mart and its partners are pleased and encouraged with the initial flow test results from the UMU-9 well which demonstrate that the exceptional reservoir and oil quality of the Umusadege field extend further than the area previously assigned, and we are looking forward to receiving results from testing the remaining perforated sands in the coming weeks."
CEN.to hits oil in Bua Ban South.
Coastal Energy Announces Successful Results Of Bua Ban South A-01 Well
Tuesday, March 13, 2012
HOUSTON, March 13, 2012 (GLOBE NEWSWIRE) -- Coastal Energy Company (the "Company" or "Coastal Energy") (TSX:CEN) (AIM:CEO), an independent exploration and production company with assets in Thailand, announces the successful results of the Bua Ban South A-01 well.
The Bua Ban South A-01 well was drilled to a total depth of 8,500 feet TVD. The well encountered 88 feet of net pay in the Lower Oligocene section. The new discovery demonstrated good reservoir characteristics with 12 percent porosity and recorded pressure data indicate that this is a new and separate accumulation from the Bua Ban Main field.
The successful results of Bua Ban South A-01 are being incorporated into the ongoing technical review, operational planning and guidance on the potential size of the discovery will be forthcoming once complete.
The Lower Miocene sands which were present in the Bua Ban Main A-11 well were not present in this particular fault block.
Randy Bartley, President and CEO of Coastal Energy, commented:
"The Bua Ban South A-01 well has discovered a new oil accumulation. This successful well has re-enthused us for the Lower Oligocene at the Bua Ban South area. We will also be testing two adjacent upthrown Miocene fault blocks with the next two wells."
TGA continues with its strong steady uptrend. Doesn't typically move much on any one day, but continue higher as TGA brings more production online. Almost a double since 15 Dec, when it was under $7.
I haven't done the math, but you might say TGA stock price appears to mimic TGA cashflow over time.
Said another way, TGA is to a portfolio as KY Jelly is to a woman's sexlife after menopause. If you don't believe me, ask KOZUH.
peeker
Negligible volume; beware irrational exuberence! SHOM has hardly traded $15,000 worth of stock today.
Remember Greenspan? “How do we know when irrational exuberance has unduly escalated asset values....,”
Thanks for AUMN feedback; hold it in daughter's acct.
AUMN filed to sell 4million shares of stock for shareholders ???
08-Mar-12 17:12 ET AUMN
Golden Minerals files to sell 4,118,150 shares of common stock for shareholders (7.45 +0.21)
AUMN filed to sell 4million shares of stock for shareholders ???
08-Mar-12 17:12 ET AUMN
Golden Minerals files to sell 4,118,150 shares of common stock for shareholders (7.45 +0.21)
13:12 SBUX Starbucks target raised to $59 at Deutsche Bank (52.24 +1.87)
Deutsche Bank raises their SBUX tgt to $59 from $53 after the co announced that it is introducing a new, single-cup coffee machine called Verismo. This was somewhat surprising since almost 1 year ago to the day SBUX announced a multi-year partnership with Green Mountain Coffee Roasters (GMCR). Firm says this announcement speaks to the leverage that the SBUX brand has in the broader coffee market, and it is encouraging to see the company putting this leverage to work without putting significant company capital at risk.
HEY GIRLS, give it a rest! This is the 'Value Microcaps Junior Energy' board, not the "petty bitchy stupid shit" board.
09:45 OSTK (I don't care about OSTK but thought the ruling was very interesting about big brokers in cahoots to manipulate a stock down).
Overstock.com announced that in its stock manipulation suit against Goldman Sachs (GS) and Merrill Lynch (BAC) the court denied mostly all of defendants' motion to seal the evidentiary record on the summary judgment hearing (5.14 -0.03)
The ruling is significant because the evidence submitted to the court lays out in detail the means by which Goldman Sachs (GS) and Merrill Lynch, unit of Bank of America (BAC) used naked short selling, in concert with others, to manipulate downward Overstock.com's share price.
THERE ARE SOME VICIOUS CRIMINALS WALKING AMONG US, and they are wearing nice suits.
TGA, great company, just reported another nice quarter; good production increase; good earnings increase. Should help move the stock up above $12 very soon.
Oops, sold it yesterday.
Transglobe Energy reports Q4; guides FY12 production (11.28 )
Reports Q4 EPS of $0.41, may not compare to the $0.25 est; net rev +34% to $60.6 mln vs. the $58 mln single est. 2012
Guidance: Production of 16,000 to 20,000 Bopd, a 48% increase over 2011 using the mid-point of 18,000 Bopd; Funds Flow of $133.0 million, based on an average Dated Brent oil price of $90.0/Bbl and using the mid-point production of 18,000 Bopd; January production 17,104 Bopd; February production 16,770 Bopd.
SCKT: Seems to me someone could easily add an app that converts tablet-based photo to scan of a book label, thus eliminating need for a separate scanner device.
TGA, great company, great management, and reports quarterly results before the open tomorrow.
Hmmm... Today TGAstockholders will decide whether to:
1. Sell before earnings, taking profits and reducing risk of a disappointment, and getting back in if quarterly results are good, or
2. Hold thru earnings and just treat this strong growth story as a longterm hold that should take TGA to at least $20 this year, while disregarding short-term pops/drops/risks?
MMT.v/MAUXF.pk Mart Resources looking great here at $1.04/share ... yearly high was $1.09 about a month ago ... they are drilling and negotiating, as shareholders are still just buying more ... and waiting ... and waiting ... and waiting ... and waiting for some news.
NKL.v/PNIKF.pk halt and nonmaterial news must have been only to boost shares of PCY.to/PRPCF.pk, and it worked til the news came out, then PCY.to started drifting lower. Duh, PCY.to also announced a PP at .45 this morning (eaten quickly by insiders and existing shareholders).
Manipulation!!!
I'm beginning to lose appreciation for John Lee, the Chinese CEO, who knows how to "work it" good.
Ptui!
'peeker
NKL.v/PNIKF.pk was halted, then released news that they were attending a conference this weekend. Not "material".
They also mentioned estimated resources for their Wellgreen property. See below:
Official Wellgreen resource estimates, based on a comprehensive drilling operation consisting of over 700 holes totalling more than 55,000 meters of drilling show a PGM and Gold resource of 1.04 million oz. indicated with a further 10.97 million oz. inferred.
Was that "material"? Doesn't seem so, but I'm not sure if the estimates were an increase from prior estimates.
??? PCY.t0o/PRPCF.pk (owns 40% of NKL) was up about 10% while NKL was halted.
IAE.to/IACAF.pk: Announcement Concerning Interest in the Company
FOR: ITHACA ENERGY INC.
March 1, 2012
Ithaca Energy Inc.: Announcement Concerning Interest in the Company
LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - March 1, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ithaca Energy Inc. ("Ithaca" or "the Company") (TSX:IAE)(AIM:IAE) announced on January 23, 2012, that it had received a
confidential, non-binding proposal to acquire all of the outstanding shares of the Company (the "Proposal"). Ithaca also
stated that discussions were at a preliminary stage and that there was no certainty that the approach would lead to an
offer being made for the Company. Discussions continue regarding the Proposal.
The Company has also received unsolicited interest from a number of third parties. The Board of Ithaca believes that it
is in shareholders best interests that the Company enters into discussions with all bona fide interested parties with a
view to maximising shareholder value.
The Board is being advised by CIBC World Markets Inc ("CIBC") in this respect.
The Board wishes to stress that discussions with all parties are at a preliminary stage and there can be no certainty of
an offer being made for the Company.
The Company does not intend to provide further updates unless an offer is made for the Company.
PMs down hard today. Does anyone have any expectation what will happen in Asia tonite, that is, does gold usually continue to fall further in Asia after it falls hard in US?
Just curious about what to expect tomorrow.
IAE.to/IACAF.pk Ithaca's FPSP, the BW Athena, departed Dubai and is enroute Aberdeen (North Sea) to attach to Ithaca's production systems. It will be late March when it arrives on site for hookup. Production from the field is expected to begin early Q2.
Port of loading: Dubai, AE
Port of discharge: Aberdeen, GB
Distance: 6459 nautical miles
Vessel speed: 10 knots
Time: 26 days 22 hours