If You Can't Be With The Stock You Love, Love The Stock Your With!! (ci)
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SCOTTRADE SUX! Again my platform goes down on glitch? Imagine the losses?
LOVING MY AIG! LOAD ON THE DIPS & FLIP N DIP, MY CASH COW
LOVING MY AIG! LOAD ON THE DIPS & FLIP N DIP, MY CASH COW
GOOD LUCK THIS MORNING ALL !! LETS KILL IT
Morning Gang! Good luck today
TOO MANY GOOD STOCKS TO CHOOSE FROM? I NEED A MILLION $
DAMN Wish i was rich lmao.
Check out this chart!!! ARYx Therapeutics, Inc. (NasdaqGM: ARYX)
WOW what happened in FEB?CNEX Holy cow
B jeezus
.01200 would be nice SSHS lol
Haven't watched this one before but will now lol. Where u see her going? Typical pullbacks along the way?
401 is here now?? Watch out! What a team. WELCOME bro
This place rocks
YEAH like that chart !!got one here SSHS
LMAO, Only if you guys bann me will i leave. Rich 2 funny
Hey Peb pleased to meet ya ! LOL PHIE is no hit and run stock!
Like you i like the big picture. Just evey chance i get i grab some JNTX & PHIE.
I'm confident in time we could see close to $1.00
Lovin my CPRK !! Shes gonna run tomoro imo
Where u see this girl going? Nice chart and just curious
Yes agreed doz, need to see some concrete confirmation! Cmon .51 lmao.
What a short that would have been dammit.
She will be in play again imo.
Yes 401 that chart is a thing of beauty!!
Likng SSHS alot along with SNSS & ETRM
Guys Check this out ARYX Therapeutics, Inc.(NasdaqGM: ARYX)
Hey Guys wazzzup !! How u all doin?
401 & I LOVE THIS CHART! Yucheng Technologies Limited (NasdaqGS: YTEC)
Yucheng Technologies Limited
(NasdaqGS: YTEC)
Would like to thank LYN from our room that brought this to our attention!
I POSTED CHARTS IN THE PREVIOUS LINK BELOW FROM YESTERDAY!
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CHECK OUT THIS PINCH PLAY GANG! Yucheng Technologies Limited
(NasdaqGS: YTEC)
ANOTHER BEAUTY READY TO RUN IMO
Came across this one and just love the chart. ADX pinching and will cross monday morning imo. Performance will depend on market sentiment next week. Were oversold and are due for profit taking or correction.
Chart speaks for itself.
Always pick your exit and entry with care and never invest more that your willing to lose.
WEEKLY PICK 3/15/2010. VisionChina Media, Inc (nasdaq:VISN)
CLICK LINK BELOW FOR CHARTS
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WEEKLY PICK 3/15/2010. VisionChina Media, Inc (nasdaq:VISN)
VisionChina Media
In addition to a fourth-quarter year-over-year drop in earnings and revenue, VisionChina Media expects a rough start to this year. The company guided for first-quarter revenue far lower than Wall Street anticipated; the market promptly slashed one-third of VisionChina's value. The digital display advertising company saw a slight revenue uptick over the third quarter, but it expects that several issues -- including the integration of its recent Digital Media Group acquisition -- will cloud projections of its financial performance in the short term.
STOCK WILL MOVE ON TECHNIALS IMO.
Bottom plays always work the same. They all move differently but one thing is for sure. The floor is in so we know its not going lower in most cases. Max out the gain and move on while still keeping an eye on her. Some will recover better than others. News, interest and sentiment
PICKS WEEK 3/15/2010.Conolog (NasdaqCM: CNLG)
Conolog Corporation
(NasdaqCM: CNLG)
After Hours: 1.59 Down 0.12 (7.02%) 5:50pm ET
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Conolog investors have enjoyed substantial gains after the company, which makes communications equipment and components, said it completed field testing and started production of its GlowWorm fiber optic detector. In addition, Conolog shares rallied after it received advance orders for its PDR systems and other communications equipment valued at over $1.9 million with deliveries to be scheduled over the next fiscal year.
At face value, the recent surge in Conolog shares from a low of $1.25 on Jan. 22 to a high of $4.72 on Feb. 1 is remarkable. But it's hard for investors to get excited about a stock that has lost 99.9% of its value over the last decade on a split-adjusted basis.
That's because Conolog has approved four reverse stock splits in the last seven years, which puts its split-adjusted price north of $33,000 per share as recently as March 2000. The reverse splits may have been done to satisfy the Nasdaq's minimum bid requirement. Nasdaq issued delisting notices as recently as March and August of 2008.
The Risk of Controlling Shareholders
For investors who may still be tempted to trade on the company's recent surge, Conolog appears to be an attractive play with momentum on its side thanks to the news releases. Share volume on Feb. 1 topped 21 million as the stock nearly doubled in price, compared to the 50-day average daily volume of only 700,000.
COPPER KING MINING CORP. (OTC:CPRK) IN PLAY THIS WEEK !!
SEE MY POST BELOW ON CPRK, ALL CHARTS are there and my take.
Loving the action!!!!!
PICKS. 3/15/2010. AFFINITY GOLD CORP(OTC BB: AFYG.OB)
CHARTS BELOW
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MAPLE GROVE, Minn., 9 /PRNewswire-/ -- Affinity Gold Corp. (OTC Bulletin Board:AFYG.ob - News) ("Affinity" or the "Company") is pleased to announce it has received USD $245,000 in the form of a private placement at a price of $1.00 per share from an existing long-standing shareholder.
These funds represent substantial progress against raising the anticipated USD $750,000 needed to purchase the necessary equipment and supplies the Company requires to begin small-scale production operations.
Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Affinity Gold Corp.'s current primary focus is gold exploration in Peru.
Through its 99.99% owned subsidiary AMR Project Peru, S.A.C., Affinity Gold Corp. is the owner of the mining concession title named "AMR Project" covering 500 hectares and the mining concession certificate as evidenced by Certificate No. 7996-2006-INACC-UADA granted to AMR by the Republic of Peru, National Institute of Concessions and Mining Cadastre on December 11, 2006 (the "Mining Concession Rights"), which Mining Concession Rights are located in the Inambari River Basin on the flat plains region at an altitude greater than 1500' and accessible by land and air, in the District of Ayapata, Province of Carabaya, Department of Puno, Peru.
http://www.affinitygold.com
PICKS. 3/15/2010. MEDIZONE INTL INC.(OTC BB: MZEI.OB)
STRICTLY TECHNICAL BUT SIMPLY LOVING THIS CHART SET UP!!
CHARTS BELOW.
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AsepticSure(TM) Eliminates All Pathogens
SAN FRANCISCO, March 8, 2010 /PRNewswire via COMTEX/ -- Medizone International, Inc. (OTC Bulletin Board: MZEI) announced today that it has successfully completed the first full round of room scale testing with its AsepticSure(TM) sterilization system. "Across the board," commented Dr Michael Shannon, "all pathogens of cause with HAIs were completely eliminated from stainless steel surfaces at concentrations well above 6 log. These results have confirmed the laboratory findings reported earlier this year, but what is of even greater significance are the insights gained into the technical modifications necessary to accommodate the unique requirements of decontaminating within a hospital environment."
Work will continue on the room scale testing program in order to expand our understanding of factors that will enhance the efficiency and effectiveness of AsepticSure(TM), particularly when dealing with contaminated textiles in time sensitive hospital spaces.
To meet the unique challenges of hospital acquired infections, Medizone has assembled an international team of professional engineers who are finalizing design of our first pre-manufacturing prototype to be used in hospital beta testing, which will commence later this spring. Medizone will build four highly instrumented prototype units for use in its hospital program, thereby enabling precise performance assessment of all AsepticSure(TM) systems as concurrent outcome measures, which will form the basis for final production design work, manufacturing and ultimately commercialization later this year.
Medizone International, Inc., is a research and development company engaged in developing its AsepticSure(TM) System to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other critical infrastructure. A government variant is being developed for bio-terrorism counter measures. Current research is being conducted at Medizone's dedicated laboratories located in Innovation Park, Queen's University in Kingston, Ontario, Canada.
This Press Release contains certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations: 415-868-0300 / web site: www.medizoneint.com
E-mail: operations@medizoneint.com
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AsepticSure(TM) Hospital Sterilization System Demonstrates Total Eradication of Super Bugs
SAN FRANCISCO, Feb. 4 /PRNewswire-FirstCall/ -- Medizone International, Inc. (OTC Bulletin Board: MZEI) announced today that every full scale test run completed thus far in its hospital room mock up facility has resulted in the total elimination of all bacteria present in the room. In this current phase of development, Medizone's scientific team will attempt to confirm, in a more realistic hospital setting, recent laboratory findings indicating extremely high antibacterial efficacy for its novel technology (6-7.2 log reductions) against the primary causative agents of hospital acquired infections (HAIs), sometimes referred to as "Super Bugs".  Dr. Michael Shannon, Medizone's Director of Medical Affairs commented, "From the very onset, our new scaled up sterilization system performed magnificently. We have now completed multiple runs with very high concentrations of MRSA, VRE and E. coli samples that were distributed throughout the test room. In every instance, the AsepticSure� system produced greater than 6 log (99.9999%) reductions, which by definition, is sterilization. It is noteworthy in this regard that there was absolutely no growth on any of the artificially contaminated surfaces exposed to the AsepticSure� process." Shannon continued, "Our intention now is to systematically collect empirically verifiable scientific data on all the remaining causative agents of HAIs. Given these recent results in a full room test setting which precisely mirrors our laboratory set up, we fully expect the same results with all remaining bacteria as well as Bacillus subtilis, the recognized surrogate for Anthrax. Thus, while more testing and data acquisition must be completed before moving into hospital beta testing, it now seems certain that AsepticSure� will deliver as promised."
Medizone's CEO Edwin Marshall added, "One of our concerns from the beginning has been the protection of the very expensive electronics found throughout hospitals. We have been testing electronic devices exposed to our process from the very beginning of our laboratory trials. While our electronic testing program will now be intensified to assure we are not making false assumptions, it is encouraging to note that one highly sensitive electronic instrument has now undergone over 50 exposures to our protocol, many at much higher O3 concentrations than we are now using, and it still performs as if it was brand new."
Medizone International, Inc., is a research and development company engaged in developing its AsepticSureâ?¢ System to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other critical infrastructure. A government variant is being developed for bio-terrorism counter measures. Â Current research is being conducted at Medizone's dedicated laboratories located in Innovation Park, Queen's University in Kingston, Ontario, Canada.
This Press Release contains certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations: 415-868-0300 / web site: www.medizoneint.com
E-mail: operations@medizoneint.com
PICKS 3/15/2010.Gasco Energy, Inc.(AMEX: GSX)
SHE'S BACK IN PLAY FOLKS AND JUST WAITING FOR MONDAY BELL !! CHECK OUT THIS CHART 8-)
SEE .33 BEING STRONG SUPPORT ! THATS THE NUMBER TO WATCH. IMO SHE HAS CONFIRMED.
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LAST FINANCIALS
Gasco Energy Announces Fourth Quarter and Year-End 2009 Financial Results
DENVER, March 3 /PRNewswire-FirstCall/ -- Gasco Energy (NYSE Amex: GSX) today announced financial and operating results for the fourth quarter and full-year ended December 31, 2009.
Full-year 2009 Financial Results
For the year-ended December 31, 2009, Gasco reported a net loss of $50.2 million, or $0.47 per share, as compared to net income in 2008 of $14.5 million, or $0.13 per share on a fully diluted basis. Included in the full-year 2009 operating expenses is a non-cash charge of $41.0 million related to impairments to the carrying value of oil and gas properties that were incurred during 2009. Impairment charges for 2008 totaled $3.5 million related to a decrease in the carrying value of a Gasco-owned drilling rig.
Included in the 2009 results are unrealized derivative losses of $11.5 million attributed to hedge effect. Excluding the effect of unrealized derivative gains and the $41.0 million impairment charge, Gasco would have posted net income of $2.4 million, a non-GAAP measure, or $0.02 per share.
Included in the 2008 results are unrealized derivative gains of $9.2 million attributed to hedge effect. Excluding the effect of unrealized derivative gains and the $3.5 million impairment charge, Gasco would have posted net income of $8.8 million, a non-GAAP measure, or $0.08 per share on a fully diluted basis.
Total revenues during 2009 decreased by approximately 50% to $21.1 million, as compared to $41.9 million in 2008. Oil and gas sales for 2009 declined by 56% to $15.7 million, as compared to $35.6 million for the same period in 2008. The year-over-year decrease in oil and gas sales is primarily attributed to a 54% decrease in prices received for sales of Gasco’s natural gas and a 42% decrease in prices received for oil volumes, combined with a 6% decrease in equivalent production during the comparable annual periods. Gathering revenues from Gasco’s midstream assets were $5.0 million, a 4% increase from the $4.8 million posted in 2008. Subsequent to the end of 2009, Gasco closed on the previously announced sale of its midstream assets for cash consideration of $23.0 million.
For the full year 2009, average prices received for Gasco's natural gas and liquids were $3.23 per thousand cubic feet of natural gas (Mcf) and $45.47 per barrel of liquid hydrocarbons. This compares to $7.05 per Mcf and $77.71 per barrel for 2008. Gasco’s risk management activities increased its average gas price by $3.06 per Mcf during 2009, and by $0.12 per Mcf during the 2008 reporting period. Including the impact of hedges, Gasco’s average price received for its natural gas production during 2009 was approximately $6.28 per Mcf, as compared to $7.18 per Mcf in the prior-year period.
Gasco's total assets at year-end 2009 were $104.7 million, as compared to $153.9 million at year-end 2008. Stockholders’ equity at year-end 2009 was a deficit of $4.2 million, as compared to a positive $44.0 million at year-end 2008. Net cash provided by operating activities for 2009 was $16.2 million, as compared to $18.2 million in the comparable 2008 reporting period. Cash and investments were $10.6 million at December 31, 2009.
As of December 31, 2009, Gasco had a $250 million credit facility with JPMorgan, of which $35.0 million was available for borrowing capacity with $34.5 million drawn in borrowing and $0.5 million drawn in letters of credit. Pursuant to the Ninth Amendment to its credit facility, effective February 1, 2010, Gasco’s borrowing base was to be reduced to $16 million by incremental fixed amounts in connection with certain contemplated asset sales, and, effective as of April 1, 2010, to automatically reduce to $16 million, regardless of whether any of the contemplated asset sales were consummated. Effective February 26, 2010, in connection with the consummation of the previously referenced sale of Gasco’s midstream assets and the application of the proceeds therefore to pay down outstanding borrowings under the credit facility, Gasco elected to reduce the borrowing base to $16.0 million effective immediately.
As of March 1, 2010, Gasco had cash and equivalents of approximately $12.5 million and had outstanding borrowings under its credit facility of approximately $11.5 million.
Unit Cost Comparisons – LOE / DD&A / G&A
Lease operating expense (LOE) for the full-year 2009 decreased to $4.4 million from $6.7 million in the same period in 2008. On a per-unit basis, total LOE, including production taxes, was $0.96 per thousand cubic feet of natural gas equivalent (Mcfe), as compared to $1.38 per Mcfe in 2008. The decrease in per-unit LOE is attributed to reduced production taxes ($0.18 per Mcfe lower) and to decreased operating expenses ($0.24 per Mcfe lower). The 34% decrease in total LOE in 2009 is attributed to reduced chemical costs in well treatments, decreased workover expense, to sharply lower commodity prices on which production taxes are based and to the use of severance tax exemptions related to certain of Gasco’s natural gas wells.
Depletion, depreciation and amortization (DD&A) was $5.6 million for the full-year 2009, as compared to $9.5 million for the same period in 2008. On a per-unit basis, DD&A in 2009 declined to $1.23 per Mcfe from $1.96 per Mcfe in the 2008 period. The 41% lower DD&A is attributed to a decrease in the depletable base during 2009 due to impairment charges incurred by Gasco during the year, specifically in the first quarter of 2009.
Gasco reported general and administrative expense (G&A) of $8.1 million in 2009 versus $9.2 million in the same period in 2008, or a 12% decrease. On a per-unit basis, total G&A for 2009 was $1.80 per Mcfe, as compared to $1.90 per Mcfe for the same period in 2008. G&A expense for 2009 includes $1.9 million of non-cash, stock-based compensation expense, or, on a per-unit basis, $0.43 per Mcfe, as compared to the 2008 total of $3.1 million, or $0.64 per Mcfe.
Fourth Quarter 2009 Financial Results
For the quarter-ended December 31, 2009, Gasco reported net income of $0.443 million, or breakeven results of $0.00 per share, as compared to a net loss in 2008 of $1.3 million, or $0.01 per share.
Included in the fourth quarter 2009 results are derivative gains of $0.789 million. Excluding the effect of derivative gains, Gasco would have posted net loss of $0.346 million, a non-GAAP measure, or breakeven results of $0.00 per share.
Included in the fourth quarter 2008 results are derivative gains of $4.1 million and an impairment of the carrying value of Gasco-owned rig of $3.5 million. Excluding the effect of derivative gains and the asset impairment, Gasco would have posted net loss of $1.9 million, a non-GAAP measure, or $0.02 per share.
Total revenues for the fourth quarter 2009 were flat at $6.8 million, as compared to $6.8 million in 2008. Oil and gas sales for the fourth quarter 2009 were $4.5 million, as compared to $4.9 million for the same period in 2008. For the fourth quarter of 2009, the average price received for sales of Gasco's natural gas and liquid hydrocarbons was $4.09 per Mcf and $55.79 per barrel of liquids. This compares to $3.92 per Mcf and $30.74 per barrel for the same period in 2008.
Quarterly and Annual Production
Estimated cumulative net production for the quarter-ended December 31, 2009 was 1,043 million cubic feet of natural gas equivalent (MMcfe), as compared to 1,228 MMcfe in the year-ago period, a 15% decrease. Estimated cumulative net production for the year-ended December 31, 2009 was 4,528 MMcfe, a decrease of 6% as compared to full-year 2008 net production of 4,838 MMcfe. Included in the full-year 2009 equivalent calculation is 42,151 barrels of liquid hydrocarbons, or flat when compared to 2008 liquids volumes of 42,545 barrels. Net production changes are attributed to normal production declines in existing wells, which are partially offset by the completion of new wells and recompletions of existing wells.
During the fourth quarter 2009, Gasco conducted initial completion operations on two Upper Mancos wells, but did not spud any new wells and did not re-enter any behind-pipe pay zones. Gasco continued to perform workover operations on certain Green River Formation oil wells to enhance oil production during the improved crude oil prices received during the quarter. For the full-year 2009, Gasco invested approximately $5.0 million in oil and gas activities in the Uinta Basin of Utah.
At December 31, 2009, Gasco operated 132 gross wells. Gasco currently has an inventory of 34 operated wells with up-hole recompletions and has one Upper Mancos well awaiting initial completion activities. Gasco began initial operations on two Upper Mancos wells in December.
2009 Proved Reserves
As previously announced, Gasco’s 2009 year-end total proved reserves totaled 46.9 billion cubic feet of natural gas equivalent (Bcfe), comprised of 44.2 Bcf of natural gas and 451,000 barrels of liquids. Gasco's reserve mix is 94% natural gas and 6% liquid hydrocarbons, including condensate volumes. At year-end 2009, 100% of Gasco’s reserves were classified as proved developed. The price deck used for calculating 2009 proved reserves was $3.06 per MMBtu of natural gas and $46.26 per barrel of crude oil. Based on these prices, the estimated discounted net present value of Gasco’s proved reserves, before projected income taxes, using a 10% per annum discount rate (“PV-10”) was $35.6 million at December 31, 2009.
Operations Update & Subsequent Events
Completion Operations
Gasco commenced its up-hole recompletion program in early February 2010. Since that time, it has successfully completed the initial stages on one Upper Mancos well, recompleted two wells and expects to recomplete an additional well by the end of the first quarter. Recompletions are subject to oilfield service availability and to weather conditions.
Producing Property Acquisition
In late February 2010, Gasco completed the acquisition of certain oil and gas leases and lands from Petro-Canada Resources (USA) Inc. for a purchase price of $0.482 million, subject to customary post-closing terms and conditions. Included in the transaction are approximately 3.0 Bcfe of proved developed reserves from two wells and approximately 5,582 net mineral acres located in Gasco’s core Riverbend Project area in Duchesne County, Utah. Current production is 400 Mcf per day net to Gasco. Engineers are currently designing an extensive workover and recompletion program for the two wells in the Mancos, Blackhawk and Mesaverde formations so as to increase production. Gasco funded the acquisition with cash flow from operating activities.
Risk Management
At recent production levels, approximately 65% of Gasco’s net production volumes were hedged through the following instruments:
Gasco 2010-2011 Swap Agreements
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Floating
Agreement Remaining Price Gasco
Type Term Quantity Index Price (a) Payer (a)
--------- --------- -------- --------------- -----------
3,500 MMBtu
Swap (b) 1/10 – 12/10 per day $4.418 / MMBtu NW Rockies
-------- ------------ ------------ -------------- ----------
3,000 MMBtu
Swap 1/10 – 3/11 per day $4.825 / MMBtu NW Rockies
---- ----------- ------------ -------------- ----------
2,000 MMBtu
Swap (b) 1/11 – 3/11 per day $4.418 / MMBtu NW Rockies
-------- ----------- ------------ -------------- ----------
(a) Northwest Pipeline Rocky Mountains - Inside FERC first of
month index price
(b) Weighted average price from June 2009 through March 2011.
PICKS 3/15/2010(OTC BB: EGMI.OB)IS SHE GOING TO RECOVER? ONE 2 WATCH IMO
ELECTRONIC GAME
(OTC BB: EGMI.OB)
Some of us got in this one unfortunately at .88. Chart showing nice bootleg and was watching for confirmation. Then i find out she gets halted or suspended :roll(OTC BB: EGMI.OB)
When she came off of suspension she dropped to .10 but jumped up and closed at .46. .50 being the hod friday. Chart wise she has confirmed and has been basing for a while. Volume has been coming in and i'm going to be all over it once she moves........ 8-)
I think she will recover from here and is definitely one to watch imo.
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PICKS 3/15/2010. [t(OTC BB: EGMI.OB)t] TO RECOVER? ONE 2 WATCH IMO
ELECTRONIC GAME
(OTC BB: EGMI.OB)
Some of us got in this one unfortunately at .88. Chart showing nice bootleg and was watching for confirmation. Then i find out she gets halted or suspended :roll(OTC BB: EGMI.OB)
When she came off of suspension she dropped to .10 but jumped up and closed at .46. .50 being the hod friday. Chart wise she has confirmed and has been basing for a while. Volume has been coming in and i'm going to be all over it once she moves........ 8-)
I think she will recover from here and is definitely one to watch imo.
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PICKS 3/15/2010.Gasco Energy, Inc.(AMEX: GSX)
SHE'S BACK IN PLAY FOLKS AND JUST WAITING FOR MONDAY BELL !! CHECK OUT THIS CHART 8-)
SEE .33 BEING STRONG SUPPORT ! THATS THE NUMBER TO WATCH. IMO SHE HAS CONFIRMED.
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LAST FINANCIALS
Gasco Energy Announces Fourth Quarter and Year-End 2009 Financial Results
DENVER, March 3 /PRNewswire-FirstCall/ -- Gasco Energy (NYSE Amex: GSX) today announced financial and operating results for the fourth quarter and full-year ended December 31, 2009.
Full-year 2009 Financial Results
For the year-ended December 31, 2009, Gasco reported a net loss of $50.2 million, or $0.47 per share, as compared to net income in 2008 of $14.5 million, or $0.13 per share on a fully diluted basis. Included in the full-year 2009 operating expenses is a non-cash charge of $41.0 million related to impairments to the carrying value of oil and gas properties that were incurred during 2009. Impairment charges for 2008 totaled $3.5 million related to a decrease in the carrying value of a Gasco-owned drilling rig.
Included in the 2009 results are unrealized derivative losses of $11.5 million attributed to hedge effect. Excluding the effect of unrealized derivative gains and the $41.0 million impairment charge, Gasco would have posted net income of $2.4 million, a non-GAAP measure, or $0.02 per share.
Included in the 2008 results are unrealized derivative gains of $9.2 million attributed to hedge effect. Excluding the effect of unrealized derivative gains and the $3.5 million impairment charge, Gasco would have posted net income of $8.8 million, a non-GAAP measure, or $0.08 per share on a fully diluted basis.
Total revenues during 2009 decreased by approximately 50% to $21.1 million, as compared to $41.9 million in 2008. Oil and gas sales for 2009 declined by 56% to $15.7 million, as compared to $35.6 million for the same period in 2008. The year-over-year decrease in oil and gas sales is primarily attributed to a 54% decrease in prices received for sales of Gasco’s natural gas and a 42% decrease in prices received for oil volumes, combined with a 6% decrease in equivalent production during the comparable annual periods. Gathering revenues from Gasco’s midstream assets were $5.0 million, a 4% increase from the $4.8 million posted in 2008. Subsequent to the end of 2009, Gasco closed on the previously announced sale of its midstream assets for cash consideration of $23.0 million.
For the full year 2009, average prices received for Gasco's natural gas and liquids were $3.23 per thousand cubic feet of natural gas (Mcf) and $45.47 per barrel of liquid hydrocarbons. This compares to $7.05 per Mcf and $77.71 per barrel for 2008. Gasco’s risk management activities increased its average gas price by $3.06 per Mcf during 2009, and by $0.12 per Mcf during the 2008 reporting period. Including the impact of hedges, Gasco’s average price received for its natural gas production during 2009 was approximately $6.28 per Mcf, as compared to $7.18 per Mcf in the prior-year period.
Gasco's total assets at year-end 2009 were $104.7 million, as compared to $153.9 million at year-end 2008. Stockholders’ equity at year-end 2009 was a deficit of $4.2 million, as compared to a positive $44.0 million at year-end 2008. Net cash provided by operating activities for 2009 was $16.2 million, as compared to $18.2 million in the comparable 2008 reporting period. Cash and investments were $10.6 million at December 31, 2009.
As of December 31, 2009, Gasco had a $250 million credit facility with JPMorgan, of which $35.0 million was available for borrowing capacity with $34.5 million drawn in borrowing and $0.5 million drawn in letters of credit. Pursuant to the Ninth Amendment to its credit facility, effective February 1, 2010, Gasco’s borrowing base was to be reduced to $16 million by incremental fixed amounts in connection with certain contemplated asset sales, and, effective as of April 1, 2010, to automatically reduce to $16 million, regardless of whether any of the contemplated asset sales were consummated. Effective February 26, 2010, in connection with the consummation of the previously referenced sale of Gasco’s midstream assets and the application of the proceeds therefore to pay down outstanding borrowings under the credit facility, Gasco elected to reduce the borrowing base to $16.0 million effective immediately.
As of March 1, 2010, Gasco had cash and equivalents of approximately $12.5 million and had outstanding borrowings under its credit facility of approximately $11.5 million.
Unit Cost Comparisons – LOE / DD&A / G&A
Lease operating expense (LOE) for the full-year 2009 decreased to $4.4 million from $6.7 million in the same period in 2008. On a per-unit basis, total LOE, including production taxes, was $0.96 per thousand cubic feet of natural gas equivalent (Mcfe), as compared to $1.38 per Mcfe in 2008. The decrease in per-unit LOE is attributed to reduced production taxes ($0.18 per Mcfe lower) and to decreased operating expenses ($0.24 per Mcfe lower). The 34% decrease in total LOE in 2009 is attributed to reduced chemical costs in well treatments, decreased workover expense, to sharply lower commodity prices on which production taxes are based and to the use of severance tax exemptions related to certain of Gasco’s natural gas wells.
Depletion, depreciation and amortization (DD&A) was $5.6 million for the full-year 2009, as compared to $9.5 million for the same period in 2008. On a per-unit basis, DD&A in 2009 declined to $1.23 per Mcfe from $1.96 per Mcfe in the 2008 period. The 41% lower DD&A is attributed to a decrease in the depletable base during 2009 due to impairment charges incurred by Gasco during the year, specifically in the first quarter of 2009.
Gasco reported general and administrative expense (G&A) of $8.1 million in 2009 versus $9.2 million in the same period in 2008, or a 12% decrease. On a per-unit basis, total G&A for 2009 was $1.80 per Mcfe, as compared to $1.90 per Mcfe for the same period in 2008. G&A expense for 2009 includes $1.9 million of non-cash, stock-based compensation expense, or, on a per-unit basis, $0.43 per Mcfe, as compared to the 2008 total of $3.1 million, or $0.64 per Mcfe.
Fourth Quarter 2009 Financial Results
For the quarter-ended December 31, 2009, Gasco reported net income of $0.443 million, or breakeven results of $0.00 per share, as compared to a net loss in 2008 of $1.3 million, or $0.01 per share.
Included in the fourth quarter 2009 results are derivative gains of $0.789 million. Excluding the effect of derivative gains, Gasco would have posted net loss of $0.346 million, a non-GAAP measure, or breakeven results of $0.00 per share.
Included in the fourth quarter 2008 results are derivative gains of $4.1 million and an impairment of the carrying value of Gasco-owned rig of $3.5 million. Excluding the effect of derivative gains and the asset impairment, Gasco would have posted net loss of $1.9 million, a non-GAAP measure, or $0.02 per share.
Total revenues for the fourth quarter 2009 were flat at $6.8 million, as compared to $6.8 million in 2008. Oil and gas sales for the fourth quarter 2009 were $4.5 million, as compared to $4.9 million for the same period in 2008. For the fourth quarter of 2009, the average price received for sales of Gasco's natural gas and liquid hydrocarbons was $4.09 per Mcf and $55.79 per barrel of liquids. This compares to $3.92 per Mcf and $30.74 per barrel for the same period in 2008.
Quarterly and Annual Production
Estimated cumulative net production for the quarter-ended December 31, 2009 was 1,043 million cubic feet of natural gas equivalent (MMcfe), as compared to 1,228 MMcfe in the year-ago period, a 15% decrease. Estimated cumulative net production for the year-ended December 31, 2009 was 4,528 MMcfe, a decrease of 6% as compared to full-year 2008 net production of 4,838 MMcfe. Included in the full-year 2009 equivalent calculation is 42,151 barrels of liquid hydrocarbons, or flat when compared to 2008 liquids volumes of 42,545 barrels. Net production changes are attributed to normal production declines in existing wells, which are partially offset by the completion of new wells and recompletions of existing wells.
During the fourth quarter 2009, Gasco conducted initial completion operations on two Upper Mancos wells, but did not spud any new wells and did not re-enter any behind-pipe pay zones. Gasco continued to perform workover operations on certain Green River Formation oil wells to enhance oil production during the improved crude oil prices received during the quarter. For the full-year 2009, Gasco invested approximately $5.0 million in oil and gas activities in the Uinta Basin of Utah.
At December 31, 2009, Gasco operated 132 gross wells. Gasco currently has an inventory of 34 operated wells with up-hole recompletions and has one Upper Mancos well awaiting initial completion activities. Gasco began initial operations on two Upper Mancos wells in December.
2009 Proved Reserves
As previously announced, Gasco’s 2009 year-end total proved reserves totaled 46.9 billion cubic feet of natural gas equivalent (Bcfe), comprised of 44.2 Bcf of natural gas and 451,000 barrels of liquids. Gasco's reserve mix is 94% natural gas and 6% liquid hydrocarbons, including condensate volumes. At year-end 2009, 100% of Gasco’s reserves were classified as proved developed. The price deck used for calculating 2009 proved reserves was $3.06 per MMBtu of natural gas and $46.26 per barrel of crude oil. Based on these prices, the estimated discounted net present value of Gasco’s proved reserves, before projected income taxes, using a 10% per annum discount rate (“PV-10”) was $35.6 million at December 31, 2009.
Operations Update & Subsequent Events
Completion Operations
Gasco commenced its up-hole recompletion program in early February 2010. Since that time, it has successfully completed the initial stages on one Upper Mancos well, recompleted two wells and expects to recomplete an additional well by the end of the first quarter. Recompletions are subject to oilfield service availability and to weather conditions.
Producing Property Acquisition
In late February 2010, Gasco completed the acquisition of certain oil and gas leases and lands from Petro-Canada Resources (USA) Inc. for a purchase price of $0.482 million, subject to customary post-closing terms and conditions. Included in the transaction are approximately 3.0 Bcfe of proved developed reserves from two wells and approximately 5,582 net mineral acres located in Gasco’s core Riverbend Project area in Duchesne County, Utah. Current production is 400 Mcf per day net to Gasco. Engineers are currently designing an extensive workover and recompletion program for the two wells in the Mancos, Blackhawk and Mesaverde formations so as to increase production. Gasco funded the acquisition with cash flow from operating activities.
Risk Management
At recent production levels, approximately 65% of Gasco’s net production volumes were hedged through the following instruments:
Gasco 2010-2011 Swap Agreements
-------------------------------
Floating
Agreement Remaining Price Gasco
Type Term Quantity Index Price (a) Payer (a)
--------- --------- -------- --------------- -----------
3,500 MMBtu
Swap (b) 1/10 – 12/10 per day $4.418 / MMBtu NW Rockies
-------- ------------ ------------ -------------- ----------
3,000 MMBtu
Swap 1/10 – 3/11 per day $4.825 / MMBtu NW Rockies
---- ----------- ------------ -------------- ----------
2,000 MMBtu
Swap (b) 1/11 – 3/11 per day $4.418 / MMBtu NW Rockies
-------- ----------- ------------ -------------- ----------
(a) Northwest Pipeline Rocky Mountains - Inside FERC first of
month index price
(b) Weighted average price from June 2009 through March 2011.
PICKS WEEK. 3/15/2010. MEDIZONE INTL INC.(OTC BB: MZEI.OB)
STRICTLY TECHNICAL BUT SIMPLY LOVING THIS CHART SET UP!!
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AsepticSure(TM) Eliminates All Pathogens
SAN FRANCISCO, March 8, 2010 /PRNewswire via COMTEX/ -- Medizone International, Inc. (OTC Bulletin Board: MZEI) announced today that it has successfully completed the first full round of room scale testing with its AsepticSure(TM) sterilization system. "Across the board," commented Dr Michael Shannon, "all pathogens of cause with HAIs were completely eliminated from stainless steel surfaces at concentrations well above 6 log. These results have confirmed the laboratory findings reported earlier this year, but what is of even greater significance are the insights gained into the technical modifications necessary to accommodate the unique requirements of decontaminating within a hospital environment."
Work will continue on the room scale testing program in order to expand our understanding of factors that will enhance the efficiency and effectiveness of AsepticSure(TM), particularly when dealing with contaminated textiles in time sensitive hospital spaces.
To meet the unique challenges of hospital acquired infections, Medizone has assembled an international team of professional engineers who are finalizing design of our first pre-manufacturing prototype to be used in hospital beta testing, which will commence later this spring. Medizone will build four highly instrumented prototype units for use in its hospital program, thereby enabling precise performance assessment of all AsepticSure(TM) systems as concurrent outcome measures, which will form the basis for final production design work, manufacturing and ultimately commercialization later this year.
Medizone International, Inc., is a research and development company engaged in developing its AsepticSure(TM) System to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other critical infrastructure. A government variant is being developed for bio-terrorism counter measures. Current research is being conducted at Medizone's dedicated laboratories located in Innovation Park, Queen's University in Kingston, Ontario, Canada.
This Press Release contains certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations: 415-868-0300 / web site: www.medizoneint.com
E-mail: operations@medizoneint.com
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AsepticSure(TM) Hospital Sterilization System Demonstrates Total Eradication of Super Bugs
SAN FRANCISCO, Feb. 4 /PRNewswire-FirstCall/ -- Medizone International, Inc. (OTC Bulletin Board: MZEI) announced today that every full scale test run completed thus far in its hospital room mock up facility has resulted in the total elimination of all bacteria present in the room. In this current phase of development, Medizone's scientific team will attempt to confirm, in a more realistic hospital setting, recent laboratory findings indicating extremely high antibacterial efficacy for its novel technology (6-7.2 log reductions) against the primary causative agents of hospital acquired infections (HAIs), sometimes referred to as "Super Bugs".  Dr. Michael Shannon, Medizone's Director of Medical Affairs commented, "From the very onset, our new scaled up sterilization system performed magnificently. We have now completed multiple runs with very high concentrations of MRSA, VRE and E. coli samples that were distributed throughout the test room. In every instance, the AsepticSure� system produced greater than 6 log (99.9999%) reductions, which by definition, is sterilization. It is noteworthy in this regard that there was absolutely no growth on any of the artificially contaminated surfaces exposed to the AsepticSure� process." Shannon continued, "Our intention now is to systematically collect empirically verifiable scientific data on all the remaining causative agents of HAIs. Given these recent results in a full room test setting which precisely mirrors our laboratory set up, we fully expect the same results with all remaining bacteria as well as Bacillus subtilis, the recognized surrogate for Anthrax. Thus, while more testing and data acquisition must be completed before moving into hospital beta testing, it now seems certain that AsepticSure� will deliver as promised."
Medizone's CEO Edwin Marshall added, "One of our concerns from the beginning has been the protection of the very expensive electronics found throughout hospitals. We have been testing electronic devices exposed to our process from the very beginning of our laboratory trials. While our electronic testing program will now be intensified to assure we are not making false assumptions, it is encouraging to note that one highly sensitive electronic instrument has now undergone over 50 exposures to our protocol, many at much higher O3 concentrations than we are now using, and it still performs as if it was brand new."
Medizone International, Inc., is a research and development company engaged in developing its AsepticSureâ?¢ System to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other critical infrastructure. A government variant is being developed for bio-terrorism counter measures. Â Current research is being conducted at Medizone's dedicated laboratories located in Innovation Park, Queen's University in Kingston, Ontario, Canada.
This Press Release contains certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations: 415-868-0300 / web site: www.medizoneint.com
E-mail: operations@medizoneint.com
PICKS WEEK 3/15/2010. AFFINITY GOLD CORP(OTC BB: AFYG.OB)
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MAPLE GROVE, Minn., 9 /PRNewswire-FirstCall/ -- Affinity Gold Corp. (OTC Bulletin Board:AFYG.ob - News) ("Affinity" or the "Company") is pleased to announce it has received USD $245,000 in the form of a private placement at a price of $1.00 per share from an existing long-standing shareholder.
These funds represent substantial progress against raising the anticipated USD $750,000 needed to purchase the necessary equipment and supplies the Company requires to begin small-scale production operations.
Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Affinity Gold Corp.'s current primary focus is gold exploration in Peru.
Through its 99.99% owned subsidiary AMR Project Peru, S.A.C., Affinity Gold Corp. is the owner of the mining concession title named "AMR Project" covering 500 hectares and the mining concession certificate as evidenced by Certificate No. 7996-2006-INACC-UADA granted to AMR by the Republic of Peru, National Institute of Concessions and Mining Cadastre on December 11, 2006 (the "Mining Concession Rights"), which Mining Concession Rights are located in the Inambari River Basin on the flat plains region at an altitude greater than 1500' and accessible by land and air, in the District of Ayapata, Province of Carabaya, Department of Puno, Peru.
http://www.affinitygold.com
THANKS GUYS !! Keep checkin back !! We're gonna kill it
Hope i can add something to the table like the rest of the talent here!
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y0
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Thanks bro!!
What the???? Its 4:30 lmao. Jezzus daylight savings
Hey guys is there a way to post a chart so it appears as is???
Please help...
Meaning not that click here caption or what i get is enter text here but when clicked the chart comes up? lol.
Again how can i post a chart so when u click page text and chart appear?
Kinda green with the tools here.
Don't see an upload feature except for avatar. Any help would be great.
Thanks again
Is that stuff as crazy as they say? lol
THANKS AGAIN FOR THE INVITE AND WELCOME GANG !!!
Really happy about being here and helping out guys gotta tell ya.
This place rocks and does so cause of the talent here no doubt.
Day trader, chart addict and anyway i can help you guys let me know.
If ya need me i hang at stockgoodies chat room 24-7 and my email is
manictrader@gmail.com
Thanks again Gang!!!!!
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