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Good morning FNRC. Believe we will see more volume today. GLTA
You might get lucky and get a few, still a couple bad traders in this ticker. But not large amounts in the 1's.
Most likely won't go below .07 again. It's now support. And with all the news coming in the next few weeks, this is only going up from here. IMO
Nice action here today. Not long before the cats out of the bag and we really fly.
Yes, hopefully continuation of yesterday’s price action. This is the time of year it historically makes a run.
With volume like this it won’t take long to get through those 2’s.
Oil And Gas Industry Future Looks 'Attractive'
by Alex Mills|Texas Alliance of Energy Producers|Friday, November 10, 2017
After two years of declining prices and reduced employment, the oil and gas industry in Texas and across the nation appears to be making a comeback.
A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.”
“Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions turn positive,” the report continued
“Expectations for U.S. oil production growth have also been tempered, as the U.S. E&P industry faces execution challenges from tighter services markets and also feels investor pressure for improved capital discipline.
“OPEC remains committed to production cuts, with steadily improving (and high) compliance. Simultaneously, global oil demand growth continues to surprise to the upside, and is on trend to continue to significantly exceed the historical average into 2018,” the report stated.
“Investor interest has increased, though many remain unconvinced about the sustainability of the current rally. We believe that fundamentals appear to be the strongest they have been since the start of the downturn and, in our view, capable of underpinning some increase in long-term oil price expectations,” the report stated.
Adding to the optimism is the monthly report of the Texas Petro Index, which shows another month of recovery.
Upstream oil and gas activity in Texas increased into the 10th straight month, according to the Texas Petro Index, which rose to 181.4, 21.4 percent higher than last year.
“Crude oil prices in Texas have been the essence of stability for more than a year,” said Karr Ingham, the economist who created the TPI and updates it monthly, noting that average monthly oil prices in Texas have increased slowly but steadily since dipping to a low of $27.08/bbl in February 2016. “Demand is beginning to show signs of recovery and foreign oil suppliers led by OPEC appear to be committed to maintaining announced production cuts.”
Ingham said another sign that upstream oil and gas companies in Texas have continued to regain economic vitality since the last downturn is the steady increase in numbers of employees producing oil and gas. According to the TPI, the payrolls of companies producing oil and gas in Texas averaged, 222,925 during September, about 30,900 more than the nadir of industry employment, about 192,000 in December 2014.
“Spurred by the little uptick in prices, Texas producers this year through September have recovered nearly 10.8 million barrels more oil than in the first nine months of 2016,” Ingham said. “It is uncertain how long the current pricing environment will continue and where we’ll go from here. But the momentum of the TPI indicates Texas producers will recovery a record volume of crude oil during 2018.”
The Baker Hughes count of active drilling rigs in Texas averaged 453 units, 85.7 percent more units than in September 2016 when an average of 244 rigs were working. Drilling activity in Texas peaked in September 2008 at a monthly average of 946 rigs before falling to a trough of 329 in June 2009. In the economic expansion that began in December 2009, the statewide average monthly rig count peaked at 932 in May 2012 and June 2012. The number of original drilling permits issued was 903, 21 percent more than the 746 permits issued in September 2016.
Alex Mills is the former President of the Texas Alliance of Energy Producers. The opinions expressed are solely of the author.
Absolutely, nice slaps end of day.
Good to see you here KIl.
I only care about making money. That is what we do this for, correct? I'm up 100% already. I don't care if Companies are good or bad. Ask Kelli, she makes money this way too.
48,000 share dump. At least there is one smart investor here.
FNRC getting ready for it's yearly winter run. Went over .0012 last year. 413 mil volume already today. Up 100%. Still not too late for a 10 bagger.
Yep, getting ready roll.
Bid up to 183 mil
This stock has a track record of moving up fast this time of year. News will send this to .001 in no time.
You are right, Kelli is a wise investor. That's why she said she will be long gone by April when those 77.5 million shares convert at .08 .
Like they say volume before price. We have the volume! Price on the way. .001 will be here soon. 10 Bagger!
FNRC taking off!
here we go boys and girls! Patience pays off.
Set your bid at .08. That's where this is headed.
The reason this is going down is no one has confidence in management. And with good reason. They are losing revs, not getting contracts, cutting employees. This is a sinking ship.
So Buck, are we ( Ohio State ) going to the playoffs or are we going to get screwed and they send Bama?
No planes, no refueling contracts, Losing 38% of their Revs because they can only get contracts from companies that can't pay. Price target .03-.08 until April 77.5 million share note conversion @ .08 then back to sub penny.
They were paid off, like a lot of the notes!
Nice action here today. Wouldn't be surprised to see some 2's.
I'll take a RAM instead please, LOL
Anyone still think this was a “great” Q ???? The market (smart money) has spoken.
Obviously the Q was not great. Market sending this down with no volume. Down 24% is not a great Q. Great Q would have generated volume to the upside.
Obviously the Q was not great. Market sending this down with no volume. And that stupid 100 share sale does not count. But this was still down 5% or so. Great Q would have generated volume to the upside.
Did you not read the part where they say they did not test fly and say the faa may not certify for flight and might be costly to get into flying condition? “ The inspection we performed on the aircraft was entirely consistent with industry standards, but it may not reveal performance or other deficiencies which appear
or arise following actual usage; such deficiencies could cause remaining service life of one or more aircraft to be reduced, or Federal Aviation Administration”
certification to be delayed, refused, suspended or withdrawn. In addition, our success in marketing profitable services based on the use of these aircraft depends on
numerous factors which are not under our control, such as market demand, prevailing prices and operating costs for the services offered, and competition.
Of course, if they get a profitable contract from the planes I will be the first to admit I was wrong. But I really don't thing the armed forces will give a contract to a Company like Tempus. No track record as being primary contract holder. And they will look at audited financials. And they don't even know for sure if the planes fly. They said they did no test flight. And profitable means after they deduct the 3.4 million cost of the planes.
Why not purchase everything on earth. They are not purchasing anything. They are using stock. If they close the doors a day after the acquisition the only loser is the seller, not the worthless paper printer. That statement makes ZERO sense. I'm not saying they are going out of business, but it costs the company ZERO to acquire those planes. It only costs the shareholders about 35% of their investment via DILUTION.
What you think of that Q ? Gap at .08 gonna fill sooner than I thought. Now we know why all those bids under .10 are there.
Now you're learning. Reading fins instead of listening to pumpers will do wonders for your portfolio. And don't forget 6+mil shares getting added to OS for planes, and another 48 mil for the financing deal, which they will have to use since they have no money, Had to cut 70% of their employees because they can't pay them.
We will see if it's a "solid" Q tomorrow. If pps goes up you are right, if it goes down I'm right. Simple as that. Either the overall market likes it or they don't. Doesn't matter what either of us say. Market has last word. GLTA
Except 38% of them were not paid! I'm guessing the GAP at .08 gets filled within a week.
Then why did they include the $1,239,060 in their revenues for the quarter? Oh yea, just to fluff the books. Now we know why they are unaudited fins.
Wow, they terminated their biggest contract. Say goodbye to roughly 38% of their quarterly revs. Not good at all. This is going down to single digits. And they are acquiring planes without a test flight!! How irresponsible can they be. Would anyone buy a used car without driving let alone a plane??
Timberrrr ! Smart money still leaving.
I know there’s a gap at .08. And once again management misled on releasing fins this morning