full-time investing; total portfolio up over 130% in 2009; but 2010 sucks!
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Sold my TARM last week and bought some TRGD today, as some TRGD seller took my bid at $.31, so I like the probability that TRGD price should exceed 7/20 of TARM price. Purchased TRGD based on relative value and that another 7shares of TARM will be paid per 20shares of TRGD. That math shows TRGD was cheaper than TARM, at least for awhile today.
In order to make this first purchase of TRGD in a long time (well over a year), I have had to assume mgt will keep their promise that 7 TARM shares will be distributed per 20shares of TRGD and that Mr. Biscuit will in fact consummate their announced deal with Yamana.
JBII ... Any hint what the "pending news" might be? Contract w/ Waste Mgt company?
JBII hit $4 on May 9th and backed off, so that is acting as resistance. If it can break thru $4 for a few days, then get the news (that made CEO wink), JBII could go higher. It may sell as high potential opportunity to some, but since it is up 300% over last 6 months, I wouldn't expect it to move much higher short-term.
JMHO,
'peeker
SSN: Nice update on newly fracccccced well.
http://finance.yahoo.com/news/Samson-Oil-amp-Gas-Provides-bw-2155776359.html?x=0&.v=1
Excerpt:
EARL #1-13H (32% WORKING INTEREST)
The work over to drill out the frac plugs on the Earl #1-13H well has been completed, and a tubing string is being run into the hole so that oil and gas production can be effected on a permanent basis. During the last phase of the work over, the well was flowing whilst pressure control equipment was being used to allow tubing to be run in and out of the hole. While this is not an ideal test condition, the well flowed at an average rate of 1033 BOPD with 1.9 mmcfd of gas during this 6 day period. Cumulative oil production for the well to date is 24,680 barrels.
Surprised to see TGA falling further today after publishing their operational update. Maybe it's the repeat about their Yemen wells being shutin til the export pipeline is repaired.
Here's an excerpt about something good:
TransGlobe total production averaged 11,970 Bopd in April, 11,348 Bopd in May and approximately 12,335 Bopd to-date in June.
????????? peeker ?????????
BEXP to MMT.v: BEXP produces about 12-14000boepd from the Williston Basin, and MMT.v is producing about half that in Nigeria (net to MMT.v, after sharing with partners).
BEXP mktcap is $3.2 billion vs a meager $0.21 billion for MMT.v; this back of envelope comparison sure makes MMT.v appear verrrry undervalued. Geesch! Roughly speaking it looks like BEXP gets 6times market cap per boepd vs. MMT.v, though it's hard to do an easy 1:1 comparison (and I haven't included reserves in the comparison). But hey guys, how much ya gotta discount a successful Nigerian oil producer?
Excerpt from yesterday's BEXP news:
... "Despite these tough operating conditions, Brigham believes that Q2 2011 production will still fall within the previously issued production guidance, with the likely outcome being at the low end of the 12,000-14,000 barrels of oil equivalent per day range."
IMHO: MMT.v/MAUXF.pk has plenty of room to run on the upside.
TRGD and TARM are tied together at the hip. Arbitrage.
Tattered and Battered: TARM can still dance; actually bustin a move today. Hit $1.50 so far. Verrrrrrry Cool!
Lots of stocks continue lower, not just TGA, and I'm taking a cash-raising rather than buying stance until it's clear how all sectors of the market prove they will not collapse upon the end of QE2 (especially with all the BS out there about not raising the debt ceiling).
Quote from article posted this weekend:
"As of the close of business on Thursday, the total U.S. debt was $14.34 trillion, according to the Daily Treasury Statement. Of that, approximately $9.74 trillion was debt held by the public and approximately $4.61 trillion was “intragovernmental” debt."
IAE.v/IACAF.pk: Ithaca Energy Inc.: Athena Development-Drilling Completed
LONDON, UK and CALGARY, ALBERTA--(Marketwire - June 6, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces the final production well on the Athena field has been
drilled and fully cased. The well encountered a considerable section of oil saturated net reservoir, with good
porosities. Development drilling has now been successfully concluded and the project remains on schedule for
production start up in Q4 2011 at approximately 22,000 barrels of oil per day ("bopd") (gross), approx. 5,000
bopd (net to Ithaca), in-line with previous disclosure.
Athena field development well 14/18b-A2Z ("the Well") intersected 515 feet (measured depth) of net reservoir in
the sub horizontal section of the well bore which was drilled to a total measured depth of 15,497 feet. The
drilling rig, Sedco 704, is now proceeding to run completion equipment and perforate the Well, the three
existing suspended production wells and the water injection well.
The Well was directionally drilled to the northwest of the Athena field where it encountered the principal
reservoir section, the Scapa A reservoir, at 11,967 feet (measured depth), 8,851 feet (true vertical depth
subsea), in line with prognosis. Electric logs acquired across the entire reservoir section of interbedded
Scapa age sandstones and shales confirmed a series of reservoir sands with porosities up to 20%. Two of the
thickest, high porosity sandstone units were encountered close to the top of the reservoir section and
Management anticipates that these will contribute to strong flow rates when the Well comes into production. A
production liner has been run across the reservoir section.
The ongoing modification and recertification work on the Floating Production, Storage and Offloading ("FPSO")
vessel, 'BW Athena' (currently in dry dock in Dubai) is well advanced. The vessel has been successfully
separated for installation of a turret docking section which is currently being welded into the structure
amidships. The vessel will be extended by approximately 65 feet. The FPSO will return to UK waters for 'hook
up' to the turret mooring buoy by the end of Q3 2011. More details and images are provided on the Company's
website:
http://www.ithacaenergy.com/Athena-Area.asp
Athena Joint Venture Partners are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft (20%)
and Zeus Petroleum Limited (10%).
Well I guess he's impressed with the feedback CL got from the meetings in NYC last week, and he figured he'd better recommend it before everybody else beat him to it.
Cheeeers to Jay "frontrunnnner" Taylor.
'peeker
... or as they say on ships, pee on the leeward side, not the windward ...
Also, Kung Fu word to the wise ... Grasshopper, never get naked and hang in closet ... w/o voice-activated cellphone.
VST.v/VSTFF.pk Stockhouse note by Joe says Vast's well in Kurdistan will be a big revenue generator, capable of perhaps 25Kboepd, and he claims to be a Kurd expatriate. Not clear how one might confirm such a thing (about him or the well). I think CL got in awhile back based on good risk/reward but not sure if he still holds. I think BobWins exited recently.
Better odds than a Coinflip? I don't know, but it has moved strongly on growing volume over last few days.
I own some as well (down a chunk of change at this point though)
He does have some credibility though. Here's a note by "pokerchamp" attesting to Joe's being right most of the time:
I agree bobby, or would have a week ago. Reliable rumours posted by Joe indicates possible daily flow of 25,000 barrels of which Vast gets 37%. Joe is from the area and has posted on occasion before of upcoming results and he has been right every time.
Just not sure how a barrel in Kurdistan will be valued. Just as Nigerian barrels seem to get less respect than those from safer places. It'll be interesting to see.
As someone suggested yesterday in may take great Q2 and Q3 results for Mart to get some respect for which I hope to be back.
'peeker
Contrarian view of peak oil vs. alternative fuels ... sort of a right wing perspective from a left wing website ... go figure ...
Still it has some interesting points about energy availability, though overtly dismissive of the threats posed by global warming and climate change caused by burning of fossil fuels.
http://www.salon.com/news/politics/war_room/2011/05/31/linbd_fossil_fuels
SSN (up 6% today) trading is picking up steam (last 2 days) as their horizontals get closer to production, and they have good opportunity for decent working percent on Chesapeake wells. I particularly like the Earl #1-13H, where they are just about to re-start drilling out the frac plugs. It has already shown good oil flow before they encountered problems, which have now been solved.
Samson Oil & Gas Limited On Thursday June 2, 2011, 9:00 pm EDT
DENVER & PERTH, Australia--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX:SSN.ax - News)(NYSE AMEX: SSN):
NORTH STOCKYARD FIELD NORTH DAKOTA
EVERETT #1-15H (31% WORKING INTEREST)
The 4 1/2 inch production liner has successfully been run to a measured depth of 17,350 feet in the Everett #1-15H well. This liner will enable a 20-stage fracture stimulation to be undertaken in late August or early September.
The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson’s sixth Bakken well in the North Stockyard Field.
EARL #1-13H (32% WORKING INTEREST)
As previously advised, during the frac plug drill out operations, in the Earl well, the drill string parted and left a string of tubing and a drilling assembly in the well bore. Fishing operations have now been completed with the entire remaining bottom hole assembly recovered. While preparations were being undertaken to drill out the remaining frac plugs, Williams County roads near the drill site were temporarily closed due to the recent heavy rainfall and flooding, restricting the movement of materials. Accordingly the well was shut in and secured. The road closure is expected to delay operations by approximately 1 week.
The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota.
HAWKS SPRINGS PROJECT WYOMING
Samson has received two well proposals from Chesapeake. The wells proposed to be drilled by Chesapeake are located on the southern boundary of the Hawks Springs project, and are expected to be drilled consecutively in September and October of this year. Samson has until July 12 to elect to participate and will use this time to evaluate the proposals and make a decision. The wells are:
State 24-63 14-1H (SSN working interest 12.5%)
State 24-63 10-1H (SSN working interest 25%)
These wells have been proposed as 4,290 feet horizontals that will be fracture stimulated.
OT: Like that comment by 10bagger ... there has been a growing amount of harsh dissension/conflict here lately. No good comes of it.
Value here comes from the opinions of all valuable microcappers.
<3
'peeker
PVG.to/PXZRF.pk Pretium got whacked hard today, down 8%. Anyone know why?
Only reason I can think of is they announced start of a grand drilling program today while investors may be thinking they should have started drilling 3 months ago.
Get to work, you lazy Cannuckleheads!
'peeker
Thanks for the update on cash availability. Nobody wants TARM to run out of cash.
REPR: Repro-Med Systems, Inc. Rides High on the Charts
Thursday June 02, 2011 - 08:19 AM EDT
Hotstocked.com article: http://finance.bnet.com/bnet/news/read?GUID=18619046&tag=content;col1
Whenever a pink sheets gets an FDA approval, it usually has a hugely positive impact on its stock. As it is, Repro-Med Systems, Inc. (PINK:REPR) is hardly an exception. Yesterday, REPR stock delivered a third extraordinary performance in a row. Closing the session at $0.41 per share, not only did it gain 18% in value, but also set a new 52-week record. The volume surge was also impressive, although it failed to set any new highs. Not bad for a stock that, until three days ago, was traded around the $0.26 mark. As mentioned above, REPR announced what initially sounded like some very special news. According to the PR, he U.S. Food and Drug Administration has now allowed REPR to freely market its Subcutaneous Needle Sets nationwide. As their name suggests, these needle sets are aimed at delivering medicine to subcutaneous tissue. Prior to the approval, the company could only market its product overseas. According to its President Andrew I. Sealfon, REPR's needles were smaller-gauged, thus allowing for both better flow rates and less discomfort for the patient as compared to traditional larger needles. Occupying the Surgical and medical industry, REPR pretends to be a leading producer of portable medical devices. The company was incorporated in New York, where it also has its headquarters. REPR is a diligent information provider and its place on the OTCQB market tier is a clear indication thereof. Last Friday, it filed a full-blown 10-K report for the annual period ended Feb 28, 2011. It revealed: $1.3 million in cash; $3.015 million in current assets vs. $314K in current liabilities; $5 million in net sales and net income in excess of $0.7 million. Seen from a financial perspective, REPR shows strong signs of positive development. Whether the trend will continue, however, still remains to be seen. If American patients accept the company's products the way overseas patients already have, REPR might eventually be in for a much longer positive trend on the stock market.
There was a slide that showed they only had about $150,000 in cash, so (in spite of the positive news about the potential JVs) TARM and TRGD remain in the unfortunate position of being nearly out of money, so therefore not in strong negotiation position.
Also I didn't know Mr. Barefoot was COO; just thought he was the IR guy.
What was that silly snippet at beginning of the talk saying Barefoot was at the airport while conducting the interview. Maybe that's why he wasn't directly addressing each of the points on the slides as he commented.
At any rate, it was useful to see something about TARM/TRGD hit the internet. Things should really take off now, well, maybe in about 2 weeks.
Wheatley's prior association with Yamana and his making a deal with Yamana has me thinking Yamana may be getting a pretty good deal (as stated, their buyin nets them 70%Yamana vs. 30%TARM).
On the positive side, surely something will eventually pan out (a$$-uming $ufficient prayer$ by devout $hareholder$).
GLTA,
'peeker
SSN /// Debt Free and more operational good news ///
Samson Oil & Gas (SSN) Is Now Debt Free; Updates on Certain Operations
6:52 am ET 06/01/2011 - StreetInsider
Samson Oil & Gas Limited (AMEX: SSN) has paid of the remaining $21 million of its debt facility. As a result, Samson has no debt on the balance sheet.
Samson has a $61.2 million cash balance.
Additionally, an update on certain operations:
"EVERETT #1-15H (31% WORKING INTEREST)
The Everett #1-15H well has reached a total measured depth of 17,350 feet, as planned, and is currently conditioning the hole prior to running the 4 ½ inch production liner. This liner will enable a 20 stage fracture stimulation to be undertaken. Oil and gas shows consistent with the balance of the Bakken wells in this field were observed whilst drilling the final part of the lateral.
The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson s sixth Bakken well in the North Stockyard Field.
EARL #1-13H (32% WORKING INTEREST)
As expected, the remaining parted tubing was extracted from the stuck point and was tripped out of the hole to the vertical part of the well bore. As the fish was moved, a marked increase in the flow rate was observed, and this flow rate of approximately 1,200 BOPD was too high to safely trip the balance of the tubing out of the well at that time. The work over crew then stood down for the holiday weekend.
Forecasted high winds in the area have curtailed operations today, but the forward strategy is to pump a well control fluid into the well and trip the fish out of the hole. Inspection of that recovery will determine the next step; if the entire bottom hole assembly is recovered, then the balance of the plugs will then be drilled out.
The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota."
And JBII could even provide a valuable future for your XXXXL polyester leisure suits (and moo moos)?
Not sure if they can recycle your French tickler microcaps though.
'peeker
TGA's Yemen assets are in cold storage while the disturbances heat up the country (TGA turned off the spigot on those wells and left the country). TGA is basically only focused on Egypt for now.
DPDW (oil service company, named Deep Down) could open a new division that features dumpster diving for plastic. Could even be a source for the next generation of 10baggers.
No? Oh, OK then.
'peeker (just having fun in the recycle bin)
Yes, TRGD shareholders have received 1 share of TARM per 20 shares of TRGD that they own. Eventually TRGD shareholders will receive a total of 8 shares of TARM per 20shares of TARM that they own. As you stated, each TRGD shareholder eventually will receive a total of .4 shares of TARM for each share of TRGD that they own.
Thus each share of TRGD is worth .40 based on current share price of TARM alone. The arbitrage game between TRGD and TARM will continue to be interesting to watch over the next 2 yrs.
The true unknowns are the real value of each share of TARM and the unknown value of assets held by TRGD (exclusive of TARM value).
In particular, assuming 8 equivalent distributions of TARM shares to TRGD shareholders, it will be interesting to watch and see if TRGD sheds .05 everytime TRGD shareholders receive TARM distributions. It will be interesting to see how share prices change over time as TRGD and TARM news highlights any positive aspects that get announced (new JV deals; shipping iron ore; outright sale of particular assets, etc.).
IMHO, the greatest challenge facing both TARM and TRGD is lack of cash, that is, they are both at the mercy of partners who are willing to pay the bills for Mr. Biscuit (in exchange for steep discounts in TARM/TRGD share of revenues/profits).
'peeker
Eventually you will pay taxes on the gain from sale of TARM shares with basis of $0.00 on the date you received the shares, but that's whenever you sell your TARM and has nothing to do with gains or losses related to TRGD.
Anybody remember what percent of TARM shares owned by TRGD were distributed this first distribution? Wasn't it just 10%?
TIA,
'peeker
ps> I have to admit it was nice to get the TARM shares, though the rationale for distributing over a 2yr period still seems strange (and costlier than necessary).
"I think TRGD can reach $2 within a year and 5-10 bucks a little further ahead. I am not surprised if TARM reaches $4-5 within a year and 20-30 bucks in a couple of years. All this if not big delays occur of course."
Methinks you are somewhere between overly optimistic and delusional.
GORO: Jefferies Group, Inc issued a Reaffirm Buy rating on Gold Resource Corporation (NYSE Amex: GORO)
Price target: $45.00
"Gold Resource Corp. (GORO)
Transition Proceeding Well-Reaffirm Buy
Key Takeaway
We were quite pleased with the overall results, cost performance and earlier-than-expected mill throughput transition to the high-grade polymetallic La Arista ore. While recognizing operations typically take 12-18 months to optimize, Gold Resource appears set to continue generating improved results. At its current $0.48 per share annualized dividend rate, GORO appears underpriced and represents our favorite small-cap gold stock. … ”
Entire article here: http://www.goldresourcecorp.com/content/GORO-1Q11%20Company%20Note.pdf
Special Day: TRGD and TARM both up today (on small volume; maybe just a few people got a good stock tip today).
CNTF: Gaming vs Smartphones?
2morrowsGains, did cc give you any idea what percent of revenues are expected from gaming vs Smartphones this next quarter? Just curious actually, but thinking the fast-growing "gaming" business may not really generate nearly as much as the Smartphone business.
'peeker
ps> I own a little CNTF but don't like that it was held down to (marginally trusted Chinese company) low P/E levels after the blowout earnings today. I'll probably sell my shares if it drops back below $6 today.
Looks like Digitech and his wife next to 10bagger and his wife.
Youse guys are pathetically and unethically unempathetic.
'peeker
Good SSN News: Samson Oil & Gas Advises on Everett 1-15H & Earl 1-13H Wells in Williams County, ND.
12 hours 36 minutes ago - BIZ via Comtex
BusinessWire
Samson Oil & Gas Limited (ASX: SSN)(NYSE AMEX: SSN):
Everett #1-15H (31% working interest)
Samson Oil & Gas Limited (ASX: SSN, NYSE AMEX: SSN) advises that today the Everett #1-15H well has landed in the middle member of the Mississippian Bakken Formation at a total vertical depth of 11,147 feet. While drilling into the middle member, significant levels of oil and gas shows were recorded. Production casing will now be run in the hole and cemented in preparation to drill the 5,500 foot horizontal lateral.
The Everett #1-15H well is located in Township 154N, Range 99W, Section 15 in Williams County, North Dakota. The Everett #1-15H well is Samson's sixth Bakken well in the North Stockyard Field. Based on the previous wells drilled by the operator, the Everett #1-15H well is expected to take approximately 17 days to drill.
Earl #1-13H (32% working interest)
The drilling of the frac isolation plugs continues to experience delays due to weather and operational issues. It has been necessary to bring in a coiled tubing unit to aid in the previously reported recovery operation. This operation commenced this morning and should enable the tubing string to be cut and then recovered. The well, which has been flowing when operationally possible, has produced approximately 9,500 bbls of oil to date.
The Earl #1-13H well is located in Township 154N, Range 99W, Section 13 in Williams County, North Dakota
So I googled this Joe and got:
http://www.joenoelstocks.com/about-joe-noel/
Here's the article dated 17May on his webpage:
http://www.joenoelstocks.com/stocks-covered/tara-minerals/joe-noeltara-minerals-corp-tarm-ob-a-review-of-recent-news/
Not clear how many eyeballs he's worth...
Regards,
'peeker
GSFVF.pk getting clobbered today. Anyone know why (other than the obvious reason: decline in oil prices)?
'peeker
AG, AXU, AUMN stakes cut by Sprott:
Sprott was trimming stakes in Barrick Gold (NYSE: ABX - News), Golden Minerals (AMEX: AUMN - News), Alexco Resource (AMEX: AXU - News), Claude Resources (AMEX: CGR - News), IAMGold (NYSE: IAG - News) and Exeter Resource (AMEX: XRA - News). Sprott was reducing its largest silver bets in the three months ended March 31. Sprott slashed its Silver Wheaton (NYSE: SLW - News) and First Majestic Silver (NYSE: AG - News) stakes during the period, but the latter was nonetheless the firm's second-largest equity holding heading into Q2.
http://finance.yahoo.com/news/Sprott-Loves-Silver-But-indie-2810516445.html?x=0&.v=1