full-time investing; total portfolio up over 130% in 2009; but 2010 sucks!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I agree. It's time to send kozuh on a mission.
Kozuh...
Your mission, if you choose to accept it, is to DIVE INTO MUDDY WATERS SHORTS and see if you can come up with anything BIG.
SSN: On negative side, they used less proppant (only 2.1million#s) vs. what they announced on 4 April they were expecting to use (2.7million#s). Could this mean their frickin' around reduced effectiveness of their frackin'?
In any case, flowback measurements are what we should expect to hear about in the next few days.
'peeker
Wade, IMHO, watching Carson Block (of Muddy Waters Research) on BOTH interviews would be useful, and it might allow you to decide he's not the villain you thought. He stated very clearly the "shorter" view of the Chinese stocks, including how they research and verify before putting out a BAD piece on a company. The second video was not televised, rather it was added by Greenberg after the Strategy Investing show aired.
Worth a watch for anyone who wants to SEE and HEAR directly from the (short) horse's mouth how they view and research potential fraudulent companies. It's a tough job, but Carson Block is probably building a pretty strong following as he identifies fraudulent operations in China.
http://www.cnbc.com/id/42556530
Wade, if you didn't see the interview on CNBC's Strategy Session yesterday, you can see 2 videos with Carson Block of Muddy Waters talking about CCME and other reverse merger China stocks at link below.
Regards,
'peeker
Herb Greenberg says he's been hammering this for awhile and wondering where regulators were.
www.cnbc.com/id/42556530
NEP knocked down 20% premkt by bloggers:
09:22 ET NEP
China North East Petroleum falls 20% in pre-mkt, weakness attributed to negative blog posting (3.83 )
Also, CISG is -8%, with weakness being attributed to a newsletter mention.
SSN frackin' news: Samson Oil & Gas Advises on the Earl #1-13H Well
(last nite). Sounds good, but doesn't bother reminding us of the good recent test details. Just reminds us that everything takes longer and costs more.
BusinessWire
Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) advises that fracture stimulation operations on the Earl #1-13H have been completed with all 20 stages pumped. The stimulation placed 2.1 million pounds of proppant. Flow back operations are due to commence in 24 hours after the flow back equipment is moved from the Rodney location.
Anybody else get blood poisoning caused by licking their wounds all day?
Ugh!
'peeker
TARM distribution over a period of 24 months is ludicrous; I can truthfully say I've never heard of anything so questionable/bizarre by a publicly traded company. It highlights the fragile nature of the whole TRGD-TARM operation. It also costs money to do a distribution of stock, so multiple minor distributions is an unnecessary waste of money.
Why didn't they just spin the TARM shares off all at once? Like you say ... perhaps to minimize selling pressure, but the market sees there is a problem here, thus TARM shares have continued drifting lower.
Grumpily,
'peeker
POE.v/POEFF.pk: Down a bit today; has anyone heard whether Pan Orient has had some trouble with their (large potential) Indonesian well?
TIA,
'peeker
MJX.v/MJXFF.pk Majescor up a nickel today on 3x avg daily volume. Is more news around the corner??????
Should do well as they eventually reach production.
'peeker
POE is looking good, but I wish the drillers would talk about the well Niko and Vast are drilling in Kurdistan. That one is the slowest well in the west, or the east, whichever applies. Regardless ... it's about time for the powers that be to talk about what they've found.
'peeker
UTA: Universal Travel files to delay its 10-K (4.13 -0.20)
Co has encountered a delay in assembling the information, in particular its financial statements for the fiscal year ended December 31, 2010, required to be included in its Annual Report on Form 10-K for the year ended December 31, 2010. The Company expects to file its Annual Report on Form 10-K for the year ended December 31, 2010 with the U.S. Securities and Exchange Commission within 15 calendar days of the prescribed due date.
TGB: Taseko Mines files for $358.7 mln mixed securities shelf offering (5.93 +0.04)
Anyone know Pretium's existing float before the offering? My point is that this additional 10 million shares added to the float will buffer/limit future stock price swings.
Also there remains some probability/risk that SSRI will decide to sell more stock (add to the float) when Pretium does indeed move beyond the 12.50 price in future.
CCME is looking pinker and pinker every day...
TRGD@.30 and TARM@.70 .... GEE SUS !!!
Conclusion: Management Totally Inept ...
Ithaca Energy Inc. Beatrice Area Jacky Operational Update
March 29, 2011
LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - March 29, 2011) -
Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces that drilling of the J03 well on the Jacky field has
now recommenced, as previously stated.
The Energy Enhancer drilling unit is now fully operational following successful repair to the drilling mud
handling system onboard the rig. Production from J01 was briefly suspended to complete the 'top hole section'
of the J03 well and then immediately reinstated. The J03 well has now been drilled to approximately 2,400 feet
measured depth and drilling operations are scheduled to last approximately a further 60 days.
TGA recently put out a PR that they have shut-in the Yemen wells due to civil unrest and associated damage to the pipelines they use.
'peeker
ps> I continue to hold some TGA and think the mgt is top notch.
DEER (up 5%) not just standing there in the headlights...
10:49 DEER: Deer Consumer Products announces litigation against blogger, affirms 2011 financial guidance and dividend policy (8.30 +0.41)
Co announced that DEER has filed a lawsuit in the Supreme Court of the State of New York against blogger "Alfred Little" and others, related to their numerous false "research reports" about DEER, which appear to be part of an orchestrated scheme to manipulate and depress DEER's stock. DEER intends to pursue all legal means available to continue to defend the legal rights of the company and its shareholders against illegal short selling and market manipulation. As previously announced, Deer's initial quarterly cash dividend of $0.05 per share will be paid on April 14, 2011, to shareholders of record at the close of business on March 31, 2011. "DEER looks forward to meeting and potentially exceeding the Company's previously issued 2011 financial guidance: revenues between $200-220 mln, net income between $35-37 mln, and EPS between $1.08-1.12." Current FY11 consensus sees EPS of $1.09; revenues of $215.9 mln.
AMSC: Electric grid business; Renewable energy business; Solid company; Growing nicely in revenues and profits Q/Q and Yr/Yr. Recent large insider buy by Kevin Douglas is pretty impressive. He already owns over 12% of stock.
I bought some today after it was mentioned on Briefing.com insider buy list.
Trading around $24.10 right now w/ trailing P/E about 27.5, this one was 20% higher just 6wks ago. Chart shows nice turnaround seems to be happening. Revenue and earnings growth show forward P/E could be around 10-15. Even better, for the squeamish, it's not a Chinese microcap; it's based in Massachusetts. Mkt Cap about $1.2 billion.
If you are looking for something that doesn't give off gamma rays, but is green and generate$ ca$h, give the revenue and earnings tables a look. Appears to be a good growth story, and the insider buying by Kevin Douglas (and trusts, etc, under his control) are pretty durn impressive.
I love you guys,
'peeker
ps> If you like it, buy it, if you don't like it, send kozuh an abusive message. He deserves it, just bekozuh who he is.
IAE.v/IACAF.pk - Ithaca news (no tax consequence for 5 years):
Mar 25, 2011 04:44 ET
Ithaca Energy Inc.: Impact of UK Fiscal Changes
LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - March 25, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) clarifies the impact on the Company's near to medium term financial position further to the recent announcement made by the UK government regarding changes to fiscal regulations.
On March 23 2011 the UK government announced that it would be increasing the rate of supplementary charge from 20% to 32% from 24 March 2011, resulting in a 62% marginal tax rate. The following important factors should be taken into account when considering the specific impact of the tax increase on the Company:
The Company's tax losses pool at the start of 2011 was approximately US$215 million. This pool, combined with the Company's predicted future capital expenditure programme, indicates no taxes are likely to be payable for at least the next five years.
The Company's revenues from future field developments with approximately less than 25 million barrels of oil equivalent, such as the Athena field, will continue to benefit from the Small Field Allowance sheltering up to US$120 million of field profits from the 32% supplementary charge.
The Company has limited decommissioning liabilities, which minimises its exposure to the announced differential tax treatment of decommissioning costs.
The Company is continuing with its development of the Athena field and the core Stella hub. A review of the Company's portfolio of existing appraisal and development opportunities will be conducted as details of the draft tax change legislation emerge.
PVG.to/PXZRF.pk News doesn't mention how many Pretium shares/warrants are being offered by SSRI, but it's bringing share price down nonetheless?
BOOOOOO... as I recall, the Pretium CEO was Ex-CEO of Silver Standard, wasn't he? Pretium bought the property from Silver Standard, and now SSRI is increasing their take on the deal. Not clear what this says about the top dogs playing this game, but we can be sure they are buddies, and they won't lose out.
'peeker
Jim Cramer's Street.com likes mining stocks.
This seems like a new twist, now that his tech stocks have been hit hard lately.
"NEW YORK (TheStreet) -- Capital Gold(CGC_), Uranerz Energy(URZ_), Richmont Mines(RIC_), Ur-Energy(URG_), Brigus Gold(BRD_), Uranium Resources(URRE_) and Golden Minerals(AUMN_) are seven mining stocks with potential upside of 10%-220%. Being analysts' favorites, most of these stocks have no sell ratings. "
http://www.thestreet.com/_yahoo/story/11056803/1/7-mining-stocks-with-upside.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
IAE.v/IACAF.pk Ouch! Down about 8%. Here's why:
http://www.whatinvestment.co.uk/trading/markets/news/1612608/budget-2011-tax-hike-for-north-sea-oil-companies.thtml
George Osborne MP has moved to raise £2 billion in additional revenue from North Sea oil producers with the introduction of a new tax
The Fair Fuel Stabiliser tax is to be a supplementary charge on oil producers which will increase the tax paid on oil and gas production from 20 per cent to 32 per cent.
Chancellor of the Exchequer George Osborne, said this was more than fair given the extraordinary rise in the price of oil over the past five years.
He explained, ‘The North Sea Oil tax regime was most recently changed in 2006, when the price of oil stood at US $66. It is now almost double that amount.
‘That means the oil companies are making unexpected profits on oil prices that are far higher than those they based their investment decisions on.
'Other oil-producing countries have a tax regime that automatically regulates returns when prices rise. We do not – and the North Sea is too mature to introduce such a regime now. Instead, we can do something else.’
The money raised from the new Fair Fuel tax has been used to delay the inflationary rise in fuel duty that was planned for next week until2012.
The following rise, originally due in 2012, will now be postponed until 2013.
Osborne said he did not want investment in the North Sea to be lost entirely, so promised oil producers that if the oil price sustains a all below US $75, the tax would be reduced.
'peeker
VST.v/VSTFF.pk crosspost from StockHouse:
bushman242
3/22/2011 5:35:21 AM
Post #29461586
Gents, I've read alot of your statements with interest and decided time to give back a little. Please realize this is just my opinion and I'm rooting for Vast to hit and hit big!
Newguy2, I can't agree with that statement. One should not expect daily problems at the rig. The operator should be prepared for any and all issues (other than acts of God).
I work in the industry (eastern hemisphere), and currently we're drilling 3800m S and J type deviated wells in 17 days for a major operator. Spud to rig release in 21 days. 21 days is much different than 1 year. I realize the geology is different but not 1 year different.
In another area, we've drilled 12km extended reach wells in 2 1/2 months. That's 12,000m (and more) of pipe in less than 3 months under VERY difficult conditions. We batch drilled the pad by section, but overall still less than 3 months.
For success, you must conduct the due diligence and spend the money for the service companies. If you've got a drill bit that wears down quick or a motor that torques up easily - you will get delays and expensive ones. If the fluids you're drilling with don't provide enough lubricant or carry the cuttings efficiently to surface, you get problems. There are a hundred different scenarios. You see my point. Multiply them by 10 for areas such as Iraq that do not have the "Hotshot" companies available 24 hrs for any spare required. I'd be very interested to know who is all involved at rig site and providing the different services. My money would bet on local and undersized outfits without the technical knowledge and equipment solutions as the bigger companies.
My thought with this well is that it being exploratory and without proven reserves (as of yet) NIKO (and VAST) hasn't dedicated the amount of money to finish the well quicker. This is not their only well and their pockets are not endless.
That said, they have slowly but surely made their way through this one and they will reach TD soon. Among the happiest at TD will be the drill team as I am sure they've worked their asses off and with limited tools and resources. I hope the shareholders are just as happy and rewarded with maintaining a long position throughout this diffcult well. Let's also hope this well is so significant NIKO/VAST will have the funding to drill the next ones in much less time! GLTA!
bushman242 post from StockHouse:
3/22/2011 5:35:21 AM
Post #29461586
Gents, I've read alot of your statements with interest and decided time to give back a little. Please realize this is just my opinion and I'm rooting for Vast to hit and hit big!
Newguy2, I can't agree with that statement. One should not expect daily problems at the rig. The operator should be prepared for any and all issues (other than acts of God).
I work in the industry (eastern hemisphere), and currently we're drilling 3800m S and J type deviated wells in 17 days for a major operator. Spud to rig release in 21 days. 21 days is much different than 1 year. I realize the geology is different but not 1 year different.
In another area, we've drilled 12km extended reach wells in 2 1/2 months. That's 12,000m (and more) of pipe in less than 3 months under VERY difficult conditions. We batch drilled the pad by section, but overall still less than 3 months.
For success, you must conduct the due diligence and spend the money for the service companies. If you've got a drill bit that wears down quick or a motor that torques up easily - you will get delays and expensive ones. If the fluids you're drilling with don't provide enough lubricant or carry the cuttings efficiently to surface, you get problems. There are a hundred different scenarios. You see my point. Multiply them by 10 for areas such as Iraq that do not have the "Hotshot" companies available 24 hrs for any spare required. I'd be very interested to know who is all involved at rig site and providing the different services. My money would bet on local and undersized outfits without the technical knowledge and equipment solutions as the bigger companies.
My thought with this well is that it being exploratory and without proven reserves (as of yet) NIKO (and VAST) hasn't dedicated the amount of money to finish the well quicker. This is not their only well and their pockets are not endless.
That said, they have slowly but surely made their way through this one and they will reach TD soon. Among the happiest at TD will be the drill team as I am sure they've worked their asses off and with limited tools and resources. I hope the shareholders are just as happy and rewarded with maintaining a long position throughout this diffcult well. Let's also hope this well is so significant NIKO/VAST will have the funding to drill the next ones in much less time! GLTA!
WKBT stock price performance is looking good today, now up 14%.
For the record, I don't agree with all the prejudice building that all China microcaps could turn out like CCME.
'peeker
ps> Have you seen the anti-China advertisements showing the Chinese laughing among themselves that the US owes them money, so Americans work for the Chinese. This is not intended to be accusatory of hweb in particular, but prejudice is a very nasty and often subtle thing. OK, I'm off the soapbox.
IAE.v/IACAF.pk announced some hiccups with drilling ops. It's causing a drop of about 5% this AM.
10:08 TGA: Shifting toward Egypt, away from Yemen.
Co reports in Egypt, during the first quarter, six oil wells were drilled; two Upper Nukhul wells and four dual Nukhul wells. In addition, two drilling rigs are currently drilling at West Gharib, primarily focused on the Nukhul formation. It is expected that up to 44 wells could be drilled in West Gharib during 2011, primarily focused on the Nukhul formation. During March, the Company has completed three Lower Nukhul and two Upper Nukhul oil wells. March production to-date has averaged approximately 9,100 barrels of oil per day representing a 12% increase from February production of 8,133 Bopd. In Yemen, co reports the oil export pipeline from Marib to the Ras Eisa port on the Red Sea is currently shut down. Production from TransGlobe's An Nagyah field on Block S-1 is shut-in until repairs to the export pipeline can be completed. The pipeline was damaged by an explosion and a local tribal group is preventing repair crew access to the pipeline because of a dispute with the government. Co reports it is difficult to predict when production will resume.
ATPG: Co announced that it has received a permit to resume drilling the Mississippi Canyon ("MC") Block 941 #4 well in the deepwater Gulf of Mexico. "This permit for the ATP Titan drilling and production platform is the first for a stationary deepwater facility since deepwater drilling was allowed to resume on February 28, 2011. The previous two permits to drill oil and gas wells approved by BOEMRE in 2011, both of them in the last 18 days, are for wells drilled by Mobile Offshore Drilling Units," ATP's CEO. "We are ready and eager to return to work. ATP has always drilled safely and environmentally soundly. We are looking forward to delivering on our objectives to generate near-term production growth from these developments."
Good article on investing in China stocks ...
http://seekingalpha.com/article/258729-missed-signals-the-hard-lesson-of-china-mediaexpress-holdings?source=yahoo
13:11 Reuters says U.N. Security Council schedules vote on Libya no-fly zone resolution for 6 p.m. EDT, according to British U.N. Envoy
MBND: This one has been doing well for you lately.
Since they cater to the satellite tv business, I was thinking that satellite tv/data (including MBND) may increase their market share as AT&T bumps up their cost of serving data to the consumer. AT&T plans to charge the consumer additional $$$ when data volume exceeds a certain amount per month.
Anecdotally, I just had my local rural tv/phone/internet service co-op cancel their tv services as Cisco was cancelling their support for the technology. As a result the local co-op notified all customers that they would no longer serve up TV services, so most would need to go to satellite TV to get any TV at all.
'peeker
RAS: Thanks, Nelson, I did buy some yesterday after you mentioned and think it is fairly well underpinned by the conversion price, that is, if it gets to $2.56, there will be some who choose to convert to shares.
"The conversion rate will be initially 390.1677 RAIT common shares per USD1,000 total of the notes or equal to the price of about USD2.56 per common share, the company said. "
NRG: Wunderlich notes investor sentiment over the last few days in the electric utility and power sector has been dominated by the nuclear events in Japan at the Fukushima Daiichi power plant. They believe investors have painted the sector with an awfully broad brush, leading to sector underperformance. Though the nuclear situation in Japan is likely to drive higher costs for nuclear operators globally, they see limited similarities between the nuclear plants in Japan and nuclear plants in the U.S. Further, they strain to point out that U.S. nuclear operators have faced the events of the Three Mile Island nuclear accident in 1979 and the 9/11 terrorist attacks in 2001; both events caused significant review and enhancement of systems at U.S. nuclear power plants. Separately, the U.S. govt yesterday issued proposed rules to further limit emissions from coal-fired power plants. Their favorite investment idea for 2011, NRG Energy (NRG), should benefit from a slowing nuclear renaissance in the U.S.
MMT.v/MAUXF.pk: Hey, Bob. The good news is they are generating lots of cash with increasing production of high-quality premium-priced oil.
You mention they need to pick up additional drillable prospects. Whether they can pick up additional valuable drilling prospects remains to be seen, but Shell is in the process of selling some operating fields in Nigeria, so maybe they'll be able to partner with some local company to buy some proven assets soon.
Is it fair to say that as they sink new wells in UMU field, they are increasing their reserve depreciation rate, so they'll need to expand beyond UMU field to be taken seriously by longer-term VALUE investors?
Just curious; trying to understand what you think would be MMT's next best moves in Nigeria and beyond.
By the way, I saw that the sun may come out for a few minutes sometime tomorrow. Don't miss it.
Best Regards,
'peeker
TRGD .30 egad!
TARM .77 whoopee!
Our Biscuit has no meat!
10:39 Floortalk; markets rebounding off lows:
The U.S. market is rebounding off the lows, with the Dow now +85 points off the opening lows (Dow -207, SPX -25, Nasdaq Comp -56). Nikkei futures are also squeezing off their lows, now -700 at 8690 (more than 300 pts off their morning lows. As such, we wanted to provide an updated look at the most volatile groups related to the Japansese disaster:
Uranium stocks: URG -23.1%, UEC -19.6%, CXZ -17.2%, URRE -14.9%, USU -11.5%, DNN -11.4%, CCJ -8.8%
Nuclear power plant construction/supplies: BWC -8.8%, SHAW -6.5%, URS -2.3%, FLR -1.2%
Nuclear ETFs: NLR -6.2%, PKN -5.1%, URA -15.3%
Alternative energy (solar/wind power & suppliers): YGE +4.2%, FSLR +4.2%, JKS +4.2%, TSL +4.2%, STP +4.2%, LDK +4.2%, JASO +4.2%, SOL +4.2%, APWR -0.4%
Japanese ADRs: HIT -8.6%, NTT -7.1%, MFG -6.9%, NJ -6.8%, MTU -5.1%, SNE -4.5%, TM -4.2%, MITSY -2.0%, HMC -1.1%, CAJ -1.0%
Asian geographic ETFs: EWJ (Japan) -4.4%, VPL (Pacific) -4.4%, EWS (Singapore) -4.3%, EWT (Taiwan) -4.3%, VNM (Vietnam) -3.8%, EWY (South Korea) -4.1%, AAXJ (Asia excluding Japan) -3.2%, EWH (Hong Kong) -3.3%, EWM (Malaysia) -1.7%, FXY (Japanese yen) +1.0%
Drug cos with radiation drug exposure: AOLS +9.8%, CBLI +8.6%, OSIR +2.3%
Other: GE -4.0% (co's containment system is being used in all six nuclear reactors at Japan's Fukushima Daiichi power plant), LDR +1.5% (produces radiation detection systems),
MMT.v suffering breakdown in its chart today; now back below C$.60 again. They need to announce UMU-7 info ASAP. Mart seems to have a great asset in Nigeria with mediocre management, especially for getting the good news to the market.
'peeker
Added to SEA.ax/SDCJF.pk (Sundance, Kid) this AM.
But if the truth be known, my portfolio has suffered a tsunami.