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Good Morning Stuffit. Preaching cancelled for you - I just saw that you have had a 7 hour sleep (read my former post to Stock Lobster - I apologize).
Mein Gott you two, Stuffit and Lobby! Don't you sleep at all! Shaking my head. Young people are so audacious..
I'm taking my Mac to repair now, so no more preaching today... :)
Have a nice day!
Yes, I will get it settled tomorrow. Now I must go before it breaks down again. Good night everybody.
Yes. I have noticed that there are all kinds of Calpine-related stuff, but the company (in bankruptcy) is CPNLQ.PK. I have been following because I think if it comes out decently from the bankrupt, for a 0.27 company it has assets enough :)
Jonesiatl. Calpine, the real company, has not changed its symbol, its still CPNLQ.PK. It is struggling out of bankruptcy, and that will be cleared maybe erst in February.
No problem with the hard drive. I got an announcement today it has arrived, and am on my way to fetch it from post office.
Isn't it wonderfull world: here am I on the other side of the world and I can trade Canadian stocks. And you are there bordering with your neighbour but can't trade their stocks.
Maybe it's because of the neighbourhood. I cannot trade Russian stocks either...
GM Stock Lobster. I am keeping an eye on that Calpine because if they get the bankruptcy and share things solved they have power plants (nat. gas and geothermal) ready and running, and can start earning money immediately.
I'm waiting for the new hard drive, and cannot keep this PowerBook on running long time now.
Have you been following any Canadian stocks lately? What's going on?
GM Stock Lobster. Calpine (CPNLQ.PK 0.28) FYI:
Court approves Calpine's $7.6 bln exit financing
Tue Jan 8, 2008 10:06am EST
NEW YORK, Jan 8 (Reuters) - Calpine Corp (CPNLQ.PK: Quote, Profile, Research) has received bankruptcy court approval for a proposed $7.6 billion debt financing as it attempts to exit Chapter 11 bankruptcy protection in the coming weeks, the power company said in a filing on Tuesday.
The exit financing would replace the company's outstanding $5.0 billion debtor-in-possession credit facility, Calpine said in a filing with the U.S. Securities and Exchange Commission. (Reporting by Lisa Lee, editing by Gerald E. McCormick)
This ia a good place to follow the oil drilling sector. Not much fuzz on this sector lately, but the dayrates of the future contracts are cautiously rising:
Transocean Inc. Provides Update On Fleet Contract Status
Tuesday January 8, 5:58 pm ET
HOUSTON, Jan. 8, 2008 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG - News) today announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated as of January 8, 2008.
Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled ``Transocean Fleet Update,'' which is available through the company's Worldwide Web address at http://www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.
Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects, other out of service time, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
Transocean Inc. is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 140 mobile offshore drilling units plus eight ultra-deepwater units under construction, the company's fleet is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company owns or operates a contract drilling fleet of 39 High-Specification Floaters, 29 Other Floaters, 68 Jackups and four other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $44.0 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol ``RIG.''
The Transocean Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2252
Contact:
Transocean Inc.
Analyst Contact:
Gregory S. Panagos
713-232-7551
Media Contact:
Guy A. Cantwell
713-232-7647
Sector Snap: Caution on Driller Rally
Tuesday January 8, 1:28 pm ET
Few Offshore Drillers Benefit From Crude's Rise; Analyst Says Buy Cautiously
NEW YORK (AP) -- Resurgent crude prices and cautious optimism by Goldman Sachs failed to spark a broad-based rally among oil drilling contractors.
The Philadelphia Oil Service Sector index, which includes drillers as well as other oilfield service providers, rose 0.5 percent to 298.93 in midday trading. But shares of only two major drilling companies rose.
Broader indexes dipped slightly. The Dow Jones industrial average fell 0.3 percent to 12,781.15.
Crude prices reversed course after three days of declines. Light, sweet crude for February delivery rose $2.35 to $97.44 a barrel Tuesday on the New York Mercantile Exchange.
In a research note, Goldman Sachs analyst Daniel Boyd recommended investors buy companies with exposure to the lucrative deepwater drilling market -- but only once stock prices pull back.
"Deepwater fundamentals remain overwhelmingly positive but we would not chase the rally," he said in the note. "We believe that the group may have run too fast too soon and that a further correction is possible."
Shares of Transocean Inc., the largest drilling contractor, rose $1.19 to $141.29. Atwood Oceanics Inc., a relatively small driller that mainly operates deepwater vessels, rose 95 cents to $99.46.
Shares of one company Boyd says is among his "favorite names," Diamond Offshore Drilling Inc., declined $2.52 to $133.60.
Boyd recommended investors avoid companies primarily focused on drilling in relatively shallow water using platforms known as jackup rigs. He lowered his forecast for rates charged on those types of rigs 10 percent to 15 percent in 2008 and by 15 to 20 percent in 2009.
Lower rates could hurt Ensco International Inc. Nearly all of its drilling rigs are jackups -- platforms that are towed out to sea and then jacked up on legs resting on the seabed.
Ensco shares fell $1.28, or 2.2 percent, to $56.73.
Oilfield service companies were also mixed. Schlumberger Ltd. rose $2.23, or 2.3 percent, to $90.04, while Halliburton Co. fell 35 cents to $37.
Oil drilling rigs needed worldwide. Open the link to see the numbers in a table form.
Baker Hughes Announces December 2007 Rig Counts
Tuesday January 8, 5:49 pm ET
HOUSTON, Jan. 8 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for December 2007 was 1,036, up 44 from the 992 counted in November 2007, and up 85 from the 951 counted in December 2006. The international offshore rig count for December 2007 was 291, up 19 from the 272 counted in November 2007 and up 1 from the 271 counted in December 2006.
The international rig count for December 2007 reflects a 30 rig increase in Latin America, primarily due to recovery from weather delays in Mexico, the end of strikes in Argentina, and the addition of four offshore rigs in Brazil.
The US rig count for December 2007 was 1811, up 13 from the 1798 counted in November 2007 and up 93 from the 1718 counted in December 2006. The Canadian rig count for December 2007 was 360, down 11 from the 371 counted in November 2007 and down 96 from the 456 counted in December 2006.
The worldwide rig count for December 2007 was 3207, up 46 from the 3161 counted in November 2007 and up 82 from the 3125 counted in December 2006.
http://biz.yahoo.com/prnews/080108/latu163.html?.v=21
SDRLF.PK 23.80 Norwegian conglomerates (SeaDrill/John Fredriksen - Aker Capital A/S) fighting about Aker dynasty's drilling company Aker Drilling (I bet JF will win :)
Published: 16:33 07.01.2008 GMT+1 /HUGIN /Source: Seadrill Limited /OSE: SDRL /ISIN: BMG7945E1057
SDRL - Voluntary offer for Aker Drilling ASA
Seadrill Limited refers to its announced intention to make a voluntary offer to purchase all of the outstanding shares in Aker Drilling ASA at an offer price of NOK40.50 subject to being allowed to perform a verification of its valuation of Aker Drilling through a due diligence review of its assets and financing and a 90 percent acceptance level.
Subsequent to the announcement of this intention on December 14, 2007, a formal request was made by Seadrill to the board of Aker Drilling for access to such information on its assets, financing and operations as would allow Seadrill to perform the required due diligence review.
Following the submittal of this request, Aker Drilling's main shareholder (holding approximately 44.97 percent of its shares), Aker Capital AS, announced that they would not accept any offer for its shares at the price level indicated by Seadrill.
In view of Aker Capital AS' position, the board of Aker Drilling announced that it saw no reason to allow Seadrill access to any information regarding Aker Drilling since the 90 percent acceptance level condition could not be met.
The Board of Seadrill has considered the situation following Aker Drilling's response and has decided to revise the condition relevant to the acceptance level from a minimum of 90 percent to a minimum of 50 percent. Aker Capital AS' position in relation to the proposed voluntary offer will thus no longer make the completion thereof impossible.
The intended voluntary offer from Seadrill remains at NOK40.50 per share and is still subject to a review of material information regarding Aker Drilling's contracts, newbuildings and financing. A letter has today been sent to Aker Drilling's board with a renewed request for access to such information.
The Board of Seadrill believes that the request for information is highly reasonable at present since Aker Capital (who is represented on Aker Drilling's board and thus have access to this information) has a competing offer in the market.
Seadrill observes that their proposed voluntary offer of NOK40.50 clearly is superior to Aker Capital's bid price of NOK39. Given this, Seadrill assumes that the Board of Aker Drilling will act in the interest of all shareholders and allow Seadrill access to the information required to perform their requested due diligence review.
For the avoidance of doubt, Seadrill will not proceed with the intended voluntary offer if the Board of Aker Drilling maintains its position in declining Seadrill such access.
Seadrill Limited
Hamilton, Bermuda
January 7, 2008
Yes, PowerBook is working quite well in spite of the damaged hard drive. It's kind of strange - as if it had learned its way to work again after a terrible collapse - I have not done much to help it. I still try to be carefull using this and wish I'll get the new hard drive soon.
BTW. This is good news to tankerworld:
Korea in single hull crackdown
Government to ban single hull vessels by 2011 following Hebei Spirit spill, and warns action could come sooner.
10:27 GMT, 07 January 2008
www.tradewinds.no
(can't open the whole article).
It has been feared that Asian countries do not care much about the single hull restrictions coming effective in 2010, so this sounds good. Trying to follow what China is going to do.
GM Stuffit. GDOCF.PK 6.10 Look at the price of new ships: a Capesize bulker costs USD121.4 million (not long ago USD84 mill.)!
GDOCF is raking in dividend money. Good.
Published: 08:45 08.01.2008 GMT+1 /HUGIN /Source: Golden Ocean Group /OSE: GOGL /ISIN: BMG4032A1045
GOGL - Sale of vessel
Golden Ocean Group Limited ("Golden Ocean" or the "Company") has agreed to sell one of the Company's capesize newbuildings contracted in December 2006 at Daehan Shipbuilding Co., South Korea. The vessel is sold for net sale proceeds of $121.4 million and delivery to the buyers is expected to take place in August 2008.
The transaction will give a positive result of approximately $46.4 million, and this will be recorded at delivery of the vessel.
The vessel is already fixed out on a five years time charter contract at a rate which is lower than present market. Management in Golden Ocean is of the opinion that the achieved sales price of the vessel with the contract connected to it represents an attractive deal in today's market. The sale of the vessel is likely to increase Golden Ocean's dividend capacity going forward.
January 8, 2008
Hamilton, Bermuda
Contact Persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 41
Geir Karlsen: CFO, Golden Ocean Management AS
+47 22 01 73 53
GM Stuffit! You see it takes time to send a message. I hope I get the new hard disk (from USA!) soon. I'll be back!
No problem. Old Mac works but it is too slow - even for me ...
Here some good beat for your 2008 trading. Keep it up!
GM Stock Lobster. Still having problems with computor - should get the new hard disk next week. This my even older Mac (guess what the Besserwissers call it!) is so slow that I'm staying quiet untill I get the new disk to my PowerBook. I hope you get this message before it :)
Sun is shining and no snow in all southern Scandinavia. Not bad.
Good trading to you all!
Congratulations! Is that your first child?
UGHT. I like geothermal energy, too. It is really pure environmentally, very reliable source of energy - more reliable than solar or wind. Once they (UGHT) get their machinery running, they will get cheap and reliable energy to sell in Idaho.
I have not dared to buy Calpine (CPNLQ.PK 0.20), because I do not understand all the regulations and language in their bakruptcy-process, but I am following it. I understand that for original shareholders the process has been a desaster, but for people buying Calpine at 0.20 it could be a real bargain.
Calpine has a complete and already functioning geothermal equipment, which they have tried to protect in every way to keep the ownership. By now, they have succeeded in it.
GM Stuffit. I'm beginning to manage, but it is still very slow. The wisemen (my children) told me to buy a new hard drive to my antique (5 years old!) Mac. Those besserwissers...
SGX.V 0.45 Sage Gold. This could be interesting. They have reserves lining up with Kodiak Exploration's reserves, where Kodiak made an enormous gold reserve discovery (AU 358.56 g per tonne)!
A post from StockHouse SGX-board:
IMO there is less reason to believe that Sage Gold
Posted by: jerryfrancis on December 26, 2007 10:06AM
and Kodiac Exp. have no geophysical connection than there is reason to believe that they do. [Actually, IMO only, I believe that they are joined at the hip in more ways that one]. We know that there is a decent spread of about 3km between the SW portion of Sage's property at Jacobus and the NE part of the Kodiak discovery. However, concerning the two companies; in our company's release they used comparrison words like, 'the same geophysical signature' and 'contiguous', regarding that KXL find. This choice of wording has a two-fold purpose.
FIRST, SGX cannot get pinned down because the did not say that it is the same find as KXL but rather, it has the same type of 'geophysical signature' or to say it another way, the same "fingerprint classification" or grouping.
SECOND, SGX can not be called into account by the nit-picking bean counters of the world because they used the word 'contiguous' in that release. I looked up the exact dictionary definition of that word. Listen to this guys/gals. The Contiguous definition ranges from; bordering upon; to touch along all OR most of one side. Or it can mean just being near or adjacent.
I am not splitting hairs here. Until it is proven to actually be an extention of the KXL find O R better yet, the source of the discovery, the company has to make use of those types of words in a nr BUT, [and this is just my strong feelings on the matter] I believe that they are giving us a hint that they strongly believe that it is all part of one discovery zone or find.
The reason I feel so strong on the matter is because the preliminary testings have shown that to be the case. I also include in all that the 1957 10foot wide quartz vein discovery by previous owners. You know the results those guys never tested for gold [?] It has the SAME mag low as what Kodiak has. They did not say with a similiar mag low as Kodiak but rather THE SAME. I know you can read into this sort of thing but to me the usage of the words, the SAME geophysical signature and the SAME mag low readings mean just that. Sage too must believe that to be the case as they rushed into that location equipment to further check our what previous testings have shown.
The leadership, PLUS all the careful building block preliminary work done on a continuous basis, PLUS what has been discovered, PLUS what appears to be a strong possibility of a great discovery, PLUS the variety of locations are why I am a shareholder. At this point you can call me a pumper if you want because I AM pumped up about the possibilities.
Best wishes,
Jerry Francis
GM Stock Lobster. A good article about mining companies beginning to produce in early 2008.
"Mining Industry: Cash Flow is Key to Quality in 2008"
One of these companies is in Nova Scotia: Acadian Mining (ADAIF.PK 0.90). Zink, lead.
http://seekingalpha.com/article/58536-mining-industry-cash-flow-is-key-to-quality-in-2008
Are you leaving for New York for Christmas? Have a nice trip and don't speed too much.
I heard in the news and read in papers that you have had real winter snow storms in East Coast and in Canada - apparently in Nova Scotia too?? Well, enjoy and go skiing!
We do not have any snow here - only in northernmost parts of Scandinavia there is a little snow, but the temperature has been +7Celsius degrees (+45 F) in Lapland in recent days, which is tremendous extraordinary. Something is really going on...
But- the winter solstice(??right word?) point is crossed today, and now the daylight time is beginning to grow :)
Happy Christmas Wildbill! I am struggling here with my computer, and lost all my music stored in iTunes (grrrr....). Of course part of it is on my own CDs, but not all. I have back-uped the iTunes on an external hard disc, but can't find it now there. Oh well, I've got things to do in Christmas time... Therefore any music from the Lotto-board is very welcome now.
BTW, that song/video "White Christmas" (in my earlier post) is gorgeous, isn't it (look at the choreography! hehe). To me the song represents American enterteinment, really high class. Thank you Americans for a song like that.
The singers are The Drifters (you know them?), and who ever made that animation/video is really skilled. Simple and elegant. Nothing less, nothing more needed (IMO).
Thanks Stock Lobster. Wonderfull music again!
Happy Christmastime to all of you Lotto board members with this song
http://badaboo.free.fr/merryxmas.swf
Enjoy the Season!
Xanadu
Happy Christmastime to you Stuffit! Remember to take it easy and get some rest. Here's a Christmas song to you and all board members. The Drifters:
http://badaboo.free.fr/merryxmas.swf
Hello Wildbill. DPDW. So the purchase of Mako was not clear yet? I thought it was already done. Anyway, looks fine as DeepDown seems to have no problem in financing their purchase in these days.
A Norwegian company has done a big seismic research in eastern part of Gulf of Mexico (offshore quite near Florida!), and DPDW was to get projects there. I understand the oil drilling has not started yet because of various discrepancies between the governement and the Floridan residents, who do not want to stare at drilling rigs from their windows... Biggest oil resources according the seismic research were quite near the coast.
Have you heard any news what's going on there?
Hello folks. What's happened to DPDW?? Cannot see any news. If no news, it's a buy.
SDRLF.PK $22.40 Seadrill (offshore drilling) keeps growing. John Fredriksen has decided to make an offer to purchase all outstanding shares of Aker Drilling, a Norwegian driller. DRYS/Economou bought 34.8% of Ocean Rig shares (a Norwegian company too), who has two of the highest capacity of harsh environment semisubmersibles. Looks like the brethren have decided to share the field...
My computer has been a nuisance- uncompatible with Java (??) - well, it works at least now. Why can't the propelheads invent a computer/browser, which converts all the internet connections automatically - without needing all kinds of applications on your own machine. Häh!
GM Stock Lobster. Here's the "Six String Orchestra" for you I found in YouTube. Keep practising!
APIO.OB $0.19 API Nanotronics Receives Order From Major U.S. Defense Contractor
Tuesday December 11, 8:00 am ET
Total Potential Value of Contract Could Exceed $3.8 Million
NEW YORK, NY--(MARKET WIRE)--Dec 11, 2007 -- API Nanotronics Corp. (OTC BB:APIO.OB - News) ("API") (the "Company"), a leading supplier of electronic components and nanotechnology research and development to the defense and communications sectors, announced today that its TM Systems division received a contract extension from a long standing defense customer. The contract includes an option for a 10th Stabilized Glide Slope Indicator (SGSI) and Vertical Reference System (VRS) and options for delivery of up to 4 additional systems. The total potential value of the contract exceeds $3.8 million.
http://biz.yahoo.com/iw/071211/0338321.html
CPNLQ.PK $0.66 Calpine posts loss for October
Tue Dec 11, 2007 12:45pm EST
NEW YORK, Dec 11 (Reuters) - Calpine Corp (CPNLQ.PK: Quote, Profile, Research), which is planning to exit bankruptcy protection within the next eight weeks, posted a loss for the month of October, according to a regulatory filing made on Tuesday.
Net loss was $64 million in the month, compared with a net income of $3.8 billion in the previous month of September, when it had $4.1 billion in reorganization benefits, according to its filing with the U.S. Securities and Exchange Commission.
In October, the power generating company posted reorganization costs of $24 billion.
Revenue was $649 million, it said. (Reporting by Lisa Lee)
Thanks, Guitarman. But don't put too much of your time on looking for it this time of day. We have time to learn that "Six string" guitar lesson later.
GM Stock Lobster. Do you know the song "Six String Orchestra", telling about a young man playing his guitar and dreaming about playing with a whole orchester...
FREE $6.38 FreeSeas Inc. Reports Third Quarter and Nine-Month Results for the Period Ending September 30, 2007
Monday December 10, 8:00 am ET
Third Quarter Operating Revenue Increased 47 Percent
PIRAEUS, Greece, Dec. 10, 2007 (PRIME NEWSWIRE) -- FreeSeas Inc. (NasdaqGM:FREE - News) (NasdaqGM:FREEW - News) (NasdaqGM:FREEZ - News) (``FreeSeas'' or ``the Company''), a provider of seaborne transportation for drybulk cargoes, announced today unaudited operating results for the quarter and nine-months ended September 30, 2007.
Financial Highlights
* Revenue grew by 47.0% compared to the same quarter of 2006,
to $4.88 million from $3.32 million, and by 47.5% for the
year-to-date period of 2007 over the comparable 2006 period,
to $12.71 million from $8.61 million.
* Income from operations reached $1.07 million, compared to a
loss of $0.02 million for the same period of 2006; income
from operations for the year-to-date period of 2007 reached
$4.18 million, compared with a loss of $1.61 million for the
comparable year-to-date period of 2006.
* Net loss of $0.50 million for the third quarter of 2007, or
loss of $0.08 per share based on 6,674,627 basic shares
outstanding, compared with a loss of $0.11 million, or loss
of $0.02 per share based on 6,290,100 basic shares outstanding
for the same quarter of 2006.
* Net income for the quarter ended September 30, 2007 was
affected by the following factors:
o The MV Free Destiny was in drydock for 30 days during the
third quarter 2007, passing her scheduled special survey.
o An unrealized expense related to interest rate swaps (change
in derivative fair value) of $0.4 million.
o Higher interest expense attributable to the higher
interest-bearing bridge loan facilities utilized in
financing the MV Free Hero, Free Jupiter and Free Goddess.
These bridge loan facilities have subsequently been repaid
in the fourth quarter from the proceeds of the Company's
recent equity offering.
* Net income from operations for the nine-months ended September
30, 2007 was $2.13 million, or $0.33 per share, compared with
a loss of $2.37 million, or loss of $0.38 per share, for the
same period in 2006.
* Adjusted EBITDA for the nine-month period ended September
30, 2007 increased by 353.5% as compared to same period in
2006, to $7.38 million from $2.08 million.
http://biz.yahoo.com/pz/071210/132759.html
Million. Resourceguide.com is a very informative link. They have good articles and even do much research. You can get much knowledge about the mining industry from there.
I know. "A Good Heart" is for you. I have so seldom use for Level II that it does not feel necessary to subscribe for a real time one.
Thanks SL. I know I know I know...I should subscribe to Level IIs yeah, well
KTN.V Can't see the dip without an intraday chart. Where do you see the dip? On Level II quotes??