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Tri-Valley Ships First Oil From Temblor Valley Production
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PRNewswire
2:01 p.m. 01/30/2006
BAKERSFIELD, Calif., Jan 30, 2006 /PRNewswire-FirstCall via COMTEX/ -- Tri-Valley Corporation (TIV) announced that it had shipped an initial 2,500 barrels of oil in January from its recently acquired Temblor Valley producing property and expects to increase this monthly production by reworking several idle wells on the property.
The rework program should commence in February when the Company begins taking delivery on its own production rigs and assigning them to its various producing properties in California.
Additionally, Tri-Valley has begun preparations to drill a horizontal well in the diatomite interval of the Temblor Valley property which adjoins the super giant South Belridge Oil Field, from which tens of thousands of barrels of oil per day are produced from the diatomite.
"The diatomite is but one interval of several on this lightly drilled property that have never been exploited and we are excited about the upside this re-exploitation with modern methods represents," said Joseph R. Kandle, president of the operating subsidiary, Tri-Valley Oil & Gas Co.
The first three zones are shallow beginning at 350 feet down to 1,200 feet. However, deeper potential is thought to be available from information of the then world's deepest well, the Berry No. 1, drilled in 1930 to 11,377 feet on the property and which had 59 API gravity oil shows. Tri-Valley will also pursue development of a deep exploration prospect once the re-exploitation and production build up is well underway.
Aaaaarrrrghhhhhh!!!
Get those charts loaded!!!!!
Stop gapping it up!!!!
Criminy, WHY do they DO that??!!
lol
jonesie
Chart says something will change soon ...
... breakdown below uptrend line (and lower support tine showing the current uptrend in Andrews Pitchfork) ... or breakout above downtrend line.
Took profits and 2/3 off the table on the trip to .40+, letting the free ones ride.
well ... hmmmmm.
Just wondered .. I post on several boards and just kinda lurk around on others from time to time, I remember her talking about some health problems and not feeling very well at the end of the year and now it's been a month ...
Waddaya mean OD'd, you just being facetious?
Who's got her email? Drop her a note and find out.
jonesie
Yep Ken ...
and I really like how you've simplified it all.
I just like adding in the pitchfork now and then for some sell price target ideas.
All the best,
jonesie
Ken, re: PPHM ...
Their IHUB board is great for DD but I sure don't wanna go over their talking much about charts and price, don't think too many are concerned about that part of it for the moment ... soooo...
You ever mess around with Andrews Pitchforks much? Kinda fun.
A little different look: weekly with Andrews Pitchfork.
(Daily still looks very nice for a low-volume positively-sloped chart)
Weekly shaping up well again, I bought a little ahead of W%R confirmation but when W%R crosses that 50 line with CONVICTION, with the Aroons shaping up like they are, look out, that setup has NOT missed yet.
JMHO -jonesie
Don't know about cliff ...
(When NEOM went from .255 to .40, did you call it a rocket? Just curious)
Without high volume (news?) to solidify the "breakout", NEOM is having a tough time with it.
But NEOM is still in an overall uptrend, and although I'm not an Andrews Pitchfork expert, I kinda like the look of this ... plus there's an opportunity here or lower to pick up some more shares, just like I wanted.
Well, at the close yesterday ...
... and recently ... it's been about 15%.
I want my 4.50 now ;)
jonesie
"Under the terms of the merger, holders of the Company's common stock would receive $2.53 per share. However, the Board of Directors and officers of the Company as a group, who own approximately 85% of the stock, have elected to receive $2.13 per share to allow the shareholders who purchased their stock directly from the Company or in the open market to receive $4.50 per share."
Crowd control, avoiding a riot?
;)
jonesie
Tandem Energy Holdings Announces Merger Agreement with Platinum Energy Resources
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BusinessWire
09:00 a.m. 01/26/2006
MIDLAND, Texas, Jan 26, 2006 (BUSINESS WIRE) -- Tandem Energy Holdings, Inc. (TDYH) (the "Company"): The Board of Directors of Tandem Energy Holdings, Inc. today announced the signing of a definitive merger agreement with Platinum Energy Resources, Inc., a special purpose acquisition corporation focused on the energy industry. Under the terms of the agreement, Tandem Energy Corporation, a wholly-owned subsidiary of the Company that holds substantially all of the Company's assets, will become a wholly-owned subsidiary of Platinum Energy. As previously announced, the Company will receive $102 million cash and will use approximately $42 million to retire long-term indebtedness. The remaining $60 million will be used to redeem all of the outstanding common stock of the Company. The Company has approximately 23.8 million shares outstanding. Under the terms of the merger, holders of the Company's common stock would receive $2.53 per share. However, the Board of Directors and officers of the Company as a group, who own approximately 85% of the stock, have elected to receive $2.13 per share to allow the shareholders who purchased their stock directly from the Company or in the open market to receive $4.50 per share.
The closing of the merger is subject to customary closing conditions, including approval of the merger by the shareholders of the Company and Platinum, and due diligence. Platinum's Board of Directors voted unanimously in favor of recommending the merger to its shareholders. If approved by shareholders, the transaction is expected to close in the second quarter of 2006.
"We are very pleased to have reached this agreement with Platinum Energy and believe the transaction reflects the full value of our company," said Tim Culp, president and CEO of Tandem Energy Holdings. "Platinum Energy has significant capital resources, and developing Tandem Energy's low-risk oil and gas resources fits very well into Platinum's stated business strategy. We look forward to working with Platinum throughout the merger process."
Tandem Energy Holdings, Inc. is an oil and gas exploration and development company based in Midland, Texas. The Company's activities are focused on low-risk properties in Texas and New Mexico.
Forward-Looking Statements
Well, the first PR said approx. $102 mill ...
this one says $105 mill ... but it doesn't breakout "what we get" between insiders and outsiders in this most recent PR.
jonesie
Platinum Energy Resources Announces Merger Agreement with Tandem Energy Holdings
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PRNewswire
08:30 a.m. 01/26/2006
NEW YORK, Jan 26, 2006 /PRNewswire-FirstCall via COMTEX/ -- Platinum Energy Resources, Inc. (PGRI), (PGRIU), (PGRIW) ("Platinum Energy"), a special purpose acquisition corporation focused on the energy industry, today announced that it has entered into a definitive merger agreement with Tandem Energy Holdings, Inc. (TDYH) ("Tandem"). Tandem is an independent oil and gas company engaged in the acquisition, exploration, exploitation and development of oil and gas properties and the production of oil and gas. Under the terms of the agreement, Tandem Energy Corporation, a wholly-owned subsidiary of Tandem Energy Holdings, owning substantially all of its assets, will become a wholly-owned subsidiary of Platinum Energy. Platinum Energy will pay $105 million in cash and fees and will be guaranteed $5 million in working capital. Platinum Energy will be responsible for capital expenditures as of January 1, 2006.
Tandem's producing properties are located primarily in Texas and New Mexico. On September 30, 2005, Tandem's estimated net proved reserves were 8.849 million barrels of oil equivalent (BOE), of which approximately 64% were crude oil and 36% were natural gas. 34.4% of its total reserves were Proven Developed Producing (PDP's). Preliminary due diligence has revealed expected low-risk probable reserves and "behind pipe" opportunities of an additional 16 million BOE.
Barry Kostiner, chief executive officer of Platinum Energy, stated, "Tandem's strong producing properties combined with its development opportunity are a perfect foundation on which to execute our business plan of optimizing profit irrespective of the global energy market's performance. We look forward to building on the attractive value created by Tandem's management."
"We are looking forward to working with Platinum Energy throughout the merger process," said Tim Culp, president and CEO of Tandem Energy Holdings. "Our low-risk oil and gas resources fit very well into Platinum's stated business strategy."
James Dorman, executive vice president, geology of Platinum Energy said, "As the head of the geology team, I am extremely excited about the potential of Tandem's diverse properties. We will have the unique opportunity to build on Tandem's current proven reserves substantially by utilizing a low-cost drilling program."
Platinum Energy, based in Montvale, New Jersey, was incorporated in April 2005 to acquire an operating business in the energy industry. Platinum Energy completed its initial public offering on October 24, 2005, receiving net proceeds of approximately $106 million through the sale of 14.4 million units of its securities at $8.00 per unit. Each unit was comprised of one share of Platinum Energy common stock and one redeemable and convertible common stock purchase warrant having an exercise price of $6.00. Platinum Energy holds over $105 million in a trust account maintained by an independent trustee, which will be released to the company upon the closing of the merger with Tandem (less any amounts returned to Platinum Energy stockholders who elect to convert their shares to cash in accordance with Platinum Energy's charter).
Merger Conditions
The closing of the merger is subject to customary closing conditions, including Platinum Energy stockholder approval of the merger. In addition, the closing is conditioned on holders of fewer than 20 percent of the shares of Platinum Energy issued in the IPO voting against the business combination and electing to convert their Platinum Energy shares into cash, as permitted by the Platinum Energy certificate of incorporation. The Platinum Energy initial stockholders, officers and directors, who hold approximately 20% of Platinum Energy's voting stock, have agreed to vote their shares on the merger in accordance with the vote of the majority of the non-affiliated Platinum Energy stockholders. If approved by Platinum Energy stockholders, the transaction is expected to close in the second quarter of 2006.
About Platinum Energy Resources, Inc.
Platinum Energy Resources is a special purpose acquisition corporation seeking to acquire assets or operating businesses in the global oil and gas exploration and production industry. Platinum Energy anticipates aggressively building a portfolio of assets using multiple acquisitions subsequent to its first acquisition which will require approval of shareholders in the amount of 80% of those voting. Platinum Energy's strategy calls for the aggressive use of hedging strategies to optimize profit irrespective of the performance of the global energy market's performance.
About Tandem Energy Holdings Inc.
Tandem Energy Holdings Inc. is an oil and gas exploration and development company based in Midland, Texas. The Company's activities are focused on low- risk properties in Texas and New Mexico.
Investor and Media Contact Alan Katz Cubit Jacobs & Prosek Communications for Platinum Energy Resources 212-279-3115 ext. 211 alan@cjpcom.com Forward-Looking Statements
Platinum Energy Resources Announces Merger Agreement with Tandem Energy Holdings
--------------------------------------------------------------------------------
PRNewswire
08:30 a.m. 01/26/2006
NEW YORK, Jan 26, 2006 /PRNewswire-FirstCall via COMTEX/ -- Platinum Energy Resources, Inc. (PGRI), (PGRIU), (PGRIW) ("Platinum Energy"), a special purpose acquisition corporation focused on the energy industry, today announced that it has entered into a definitive merger agreement with Tandem Energy Holdings, Inc. (TDYH) ("Tandem"). Tandem is an independent oil and gas company engaged in the acquisition, exploration, exploitation and development of oil and gas properties and the production of oil and gas. Under the terms of the agreement, Tandem Energy Corporation, a wholly-owned subsidiary of Tandem Energy Holdings, owning substantially all of its assets, will become a wholly-owned subsidiary of Platinum Energy. Platinum Energy will pay $105 million in cash and fees and will be guaranteed $5 million in working capital. Platinum Energy will be responsible for capital expenditures as of January 1, 2006.
Tandem's producing properties are located primarily in Texas and New Mexico. On September 30, 2005, Tandem's estimated net proved reserves were 8.849 million barrels of oil equivalent (BOE), of which approximately 64% were crude oil and 36% were natural gas. 34.4% of its total reserves were Proven Developed Producing (PDP's). Preliminary due diligence has revealed expected low-risk probable reserves and "behind pipe" opportunities of an additional 16 million BOE.
Barry Kostiner, chief executive officer of Platinum Energy, stated, "Tandem's strong producing properties combined with its development opportunity are a perfect foundation on which to execute our business plan of optimizing profit irrespective of the global energy market's performance. We look forward to building on the attractive value created by Tandem's management."
"We are looking forward to working with Platinum Energy throughout the merger process," said Tim Culp, president and CEO of Tandem Energy Holdings. "Our low-risk oil and gas resources fit very well into Platinum's stated business strategy."
James Dorman, executive vice president, geology of Platinum Energy said, "As the head of the geology team, I am extremely excited about the potential of Tandem's diverse properties. We will have the unique opportunity to build on Tandem's current proven reserves substantially by utilizing a low-cost drilling program."
Platinum Energy, based in Montvale, New Jersey, was incorporated in April 2005 to acquire an operating business in the energy industry. Platinum Energy completed its initial public offering on October 24, 2005, receiving net proceeds of approximately $106 million through the sale of 14.4 million units of its securities at $8.00 per unit. Each unit was comprised of one share of Platinum Energy common stock and one redeemable and convertible common stock purchase warrant having an exercise price of $6.00. Platinum Energy holds over $105 million in a trust account maintained by an independent trustee, which will be released to the company upon the closing of the merger with Tandem (less any amounts returned to Platinum Energy stockholders who elect to convert their shares to cash in accordance with Platinum Energy's charter).
Merger Conditions
The closing of the merger is subject to customary closing conditions, including Platinum Energy stockholder approval of the merger. In addition, the closing is conditioned on holders of fewer than 20 percent of the shares of Platinum Energy issued in the IPO voting against the business combination and electing to convert their Platinum Energy shares into cash, as permitted by the Platinum Energy certificate of incorporation. The Platinum Energy initial stockholders, officers and directors, who hold approximately 20% of Platinum Energy's voting stock, have agreed to vote their shares on the merger in accordance with the vote of the majority of the non-affiliated Platinum Energy stockholders. If approved by Platinum Energy stockholders, the transaction is expected to close in the second quarter of 2006.
About Platinum Energy Resources, Inc.
Platinum Energy Resources is a special purpose acquisition corporation seeking to acquire assets or operating businesses in the global oil and gas exploration and production industry. Platinum Energy anticipates aggressively building a portfolio of assets using multiple acquisitions subsequent to its first acquisition which will require approval of shareholders in the amount of 80% of those voting. Platinum Energy's strategy calls for the aggressive use of hedging strategies to optimize profit irrespective of the performance of the global energy market's performance.
About Tandem Energy Holdings Inc.
Tandem Energy Holdings Inc. is an oil and gas exploration and development company based in Midland, Texas. The Company's activities are focused on low- risk properties in Texas and New Mexico.
Investor and Media Contact Alan Katz Cubit Jacobs & Prosek Communications for Platinum Energy Resources 212-279-3115 ext. 211 alan@cjpcom.com Forward-Looking Statements
Where did cisco go?
Anyone hear anything from her?
OT: dinotori
See now why I said what I did yesterday morning?
And why I told you what I told you in a PM?
jonesie
p.s. And you were more concerned about whether or not that was my first post here?
Where did cisco go?
That was hilarious.
You know, there's a Steven Wright who is a comedian. I think.
jonesie
snaphook, no problem, and no worries ...
Lazy me, found the silly pitchfork tool right in my stockcharts.com stock annotation palette LOL, couldn't be simpler to use.
That'll teach me to ask before looking myself. ;)
Have a good one!
jonesie
ERG, I use stockchart.com's scan engine.
Can write all kinds of custom scans.
But yeah, gotta be a subscriber.
jonesie
ERG Consulting, know what REALLY hurts?
I DID see it, in the Scan I ran end of day on 1/3 ESLR came up with these other stocks as confirming after having the Magic Box setup.
So many stocks, so little time, not enough brain matter LOL.
APA
ACI
WEL
CDIS
CHK
GLW
CREE
ESNR
EPL
ESLR
GSX
GW
HAL
HYDL
KCS
LGOV
MSFT
NBR
NRP
OXY
PLLL
PTEN
PQ
STR
SELA
SIMG
TOPT
UPL
OT: Thanks precious.
I use TA nearly exclusively in my trading/investing, as this is all I do in the "work" arena now.
Where on that site is the Andrews Pitchfork specifically?
I should look on stockcharts.com as well, since I'm a paid real-time subscriber there.
I was just being lazy asking snaphook for a specific link LOL.
Thanks again!
jonesie
p.s. Sorry for the OT posts on what I have seen is an exceptional board for DD on Peregrine, good luck to all!
Okay snaphook, I wanna learn how to draw that pitchfork ... and also learn WHEN and WHY to use it.
Point me in the right direction to a tutorial please?
TIA
jonesie
p.s. And I'll start looking too, can't be TOO lazy lol
OT: dinotori:
I sent you a PM earlier.
Feel free to email me.
And feel free to have a chuckle at my expense later if warranted ;)
regards,
jonesie
No, don't think so. I've been in GTE for over a year now, since pre-R/S.
Traded some shares in and out too.
Why?
jonesie
Amazing article.
One has to at least listen to somebody like Seth, IMHO.
I was in a stock in 2000, Herb Greenberg tackled the company, wrote lots of flaming articles on them, we all flamed him back in emails, cursed his name, etc etc. CYBR had traded at $40, up from a buck in a matter of months. Turns out Herb was right, CYBR now trades at .001.
Apples and Oranges I'm "sure", but "I'm listening" LOL
jonesie
dwain, re: I-Box
Or Info Box ... when you've got the message list on your screen .. click on "show board info" which is at the top of the list of messages.
You can toggle the I-Box on and off. Ken and Flota have all KINDS of info in the I-Box here, it's amazing.
jonesie
Ken, not as low as I wanted.
Never filled that gap (probably will now LOL), so I got some at .99, 1.00 and bought a few more today at 1.08. Not like I'd really like but I just wasn't paying attention to PPHM early enough and I REALLY thought it would fill that gap. It WOULD have too, without that last NR.
Watchin' it close.
When's your MRI?
jonesie
PPHM moving up strong on no news, good volume.
1000 shares at .39, fat-finger freddy.
re: PPHM, dunno, but glad I finally gave up on my order in at .96 and bought higher lol.
It does seem like it wants to keep moving.
It would be nice to close at the 5MA/5EMA, both at .38.
Might not happen though. About a quarter mill shares traded under .38 so far.
Not "nuffin'", but not the end of the world either.
jonesie
p.s. Actually, as "painful" as it is, I'd still like more shares under .30 before this story plays out. Or under .36. Whatever I can get.
nutsoc, re: gap...
There is a .003 "gap" between the close on the 18th and the low on the 19th. However, intraday on the 18th NEOM traded higher than the LOD on the 19th.
I'm not sure there really is a gap there.
That's not to say NEOM won't trade there again.
FWIW
jonesie
As someone else put it, it's a LOI.
With further DD to be done by the buyer.
Thus the extended date for possible closing.
No further info.
"Hasn't" is a true statement.
"will not" would just be a guess ... one of two possible guesses.
jonesie
OT: Clawmann, re: RB, thanks.
I've gotten msgs from folks on other boards having the same problem but, yeah, no great loss with RB, I NEVER read the RB NEOM board lol.
jonesie
CHID Elects New CEO and COO
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Market Wire
07:55 a.m. 01/23/2006
LOS ANGELES, CA AND SHENZHEN, CHINA, Jan 23, 2006 (MARKET WIRE via COMTEX) -- China Digital Communication Group (CHID), one of the fastest growing battery components manufacturers in China, announced today that Yi Bo Sun has resigned from China Digital effective as of January 19, 2006. The Company has appointed Chang Chun Zheng as its new Chief Executive Officer and Chairman of the Board; and Hong Liang as its Chief Operating Officer and as a Director, both effective January 19, 2006.
Yi Bo Sun, former CEO, Director, and Chairman of China Digital, stated, "In the next five years, the development of 3G technologies will present new industrial and business opportunities to China Digital. To best capitalize on these opportunities, I recommended that the Company recruit talented executives from the Information Technology, corporate development, finance and investment communities. I believe Chang Chun Zheng and Hong Liang provide the business acumen and insight to accelerate the development and execution of China Digital's growth strategies for the benefit of our shareholders."
Chang Chun Zheng, CEO and Chairman of the Board of China Digital, said, "I'm pleased to be associated with China Digital and to be working with Hong Liang. Mr. Liang has successfully completed many merger and acquisition transactions in China, based on his in-depth knowledge of finance, accounting, and his network of resources. I'm confident that his contributions will help lead China Digital forward with its Merger and Acquisition strategy."
Chang Chun Zheng's 20-year career encompasses corporate banking, securities, and technology. His expertise spans business appraisal, commercial loans, capital raises, debt collection, and IPOs. He is also a published author of research papers and articles for international publications. He is recognized as the first scholar in China to define the Chinese Economic Reformation.
Prior to joining China Digital, Mr. Zheng was the CEO of Shenzhen ShengNuo Digital Tech Co, Ltd. Under his leadership, he aggressively grew the company within fours years to become a recognized major vendor of IT and communications equipment in China. From 1996 to 2001, he served as CEO and Chairman of Shenzhen Hong Ye Science and Tech Co, Ltd. During his tenure, the company became a leading scientific investment company whose IT achievements are widely recognized in China. His experience also includes several years in executive positions at the Construction Bank of China, one of the largest banks in China. Mr. Zheng holds a Master of Science degree in National Economics and Management from the Chinese Academy of Social Science.
Hong Liang comes to China Digital with over ten years experience in corporate finance and accounting, SEC regulations in the United States, and securities law throughout China, Hong Kong, and Singapore. Prior to joining China Digital, Mr. Liang was the Senior Project Manager at Shenzhen High Tech Investments and Guarantee Co., Ltd. Previously, Mr. Liang held several positions as Chief Financial Officer, including the following companies: Shenzhen Hua Mao Mortgage Loan Firm; Shenzhen Hua Bao Electronic Company, Inc.; Shenzhen Yong Gao Industries. He is also the former Executive Editor, Southwestern University of Finance and Economic Publishing Press. He holds both Bachelors and Masters degree in Economics from Southwestern University of Finance and Economics in Chengdu, China.
OT: Are the RB boards gone?
Can't seem to access any of them. Is it just me?
jonesie
Ken, all the best!
You'll have tunnel vision!! Wait, do you already with these stock "thingies"? ;)
Take care of yourself!
jonesie
Starshine, I agree.
Looks like someone got impatient today.
Wow what a tank in the markets as a whole. I must be in some weird stocks, until that little hit in TDYH just now my whole board was mostly green, very green.