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FYI: Look at Cornell Capital's (name changed to Yorkville Advisors) achievements. Stockprices of almost all client companies deeply in minus! Must be clients delighted.
A new board:
http://investorshub.advfn.com/boards/board.asp?board_id=9964
I was looking for OEGY.OB, and that's still in plus side (er... for the time being, I think)
DNO is a middlesize oil exploration company, who got a license to explore oil in Iraq and found the big Tawke resource in North Iraq. First everything was fine, and DNO's price soared to NOK 1.00 to 12.00 in a half a year. The difficulties came when the district was declared as a half-autonomic Kurdistan area, and the next local governement cancelled and changed the contracts the previous governement had made and so on. A very typical problem in all these Middle-Eastern/Caucasus areas. The uncertainty keeps the western companies (especially the big ones) from really investing in the areas.
DNO is producing and selling oil from Tawke inside Iraq, but has not been able to fully explore and drill the fields, neither to sell to international buyers. The situation is stagnated for the time being. If they get contracts with the Iraq/Kurdistan governement, which they can really trust on, the Tawke field is an enormous source of oil.
DNO's Yemen oil fields and of course Norwegian coast fields are producing without any problems, but those are considerably smaller resources.
I am also keeping an eye on DNO and following the situation in Iraq. If they can fully exploit their findings there, DNO will be a rich oil company.
GDOCF.PK Friday night close in Oslo $4.49. Good.
Xanadu (with even broader smile:)
Good Morning Stuffit. Dry bulk index (BDI) nears ATH: 7277, up +40. Contracts made: Panamax $61.000/day, Capesize $105.250/day.
Tanker rates turned up. Frontline closed three fixtures yesterday (don't know the rates yet).
Golden Ocean (GDOCF.PK) NOK 25.75 = USD 4.41 and Frontline (FRO) NOK 263.00 = USD 45.11 in Oslo.
SeaDrill (SDRLF.PK) offshore drilling company will release Q2 results on Monday. NOK 110.00 = USD 18.86.
Xanadu (smiling :)
Good Morning SL. Good Morning Tankerfans. FRO Q2
EPS $2.53
Net income 189 million
Revenue 260 million
Dividend Q2 1.50
As you can see, Frontline does not earn its money only by hauling oil, but in several sectors of shipping world. It has secured its cashflow with long term fixed rates (40% of the fleet), and the extra will be distributed to the shareholders. FRO is no more a growing company ,like GDOCF, but it surely is a cashcow for its shareholders. Remember, FRO owns now 17% of the soon IPOing heavy-lift company Dockwise (revenues 1-6/2007 $ 122.5 million, backlog of projects $ 147 million as of June 30, 2007), and, as before, will in due time distribute the shares to FRO shareholders.
Frontline Ltd.: Second Quarter 2007 Results
Wednesday August 22, 2:29 am ET
HAMILTON, Bermuda, Aug. 22, 2007 (PRIME NEWSWIRE) -- Highlights
* Frontline reports net income of $189.1 million and earnings per share
of $2.53 for the second quarter of 2007.
* Frontline reports half year net income of $347.9 million and earning
per share of $4.65.
* Frontline reports a total gain on sale of assets of $66.1 million
consisting of $31.2 million relating to the sale of its shares in Sea
Production, $21.8 million to the delivery of the first converted heavy
lift vessel and $13.1 million relating to the termination of the
capital lease for Front Vanadis.
* Frontline reports a gain on the issuance of shares in Sealift in
connection with the business combination with Dockwise of $43.7 million
in the second quarter.
* The lease from Ship Finance for the single hull VLCC Front Vanadis
(1990) was terminated in the second quarter.
* In May 2007 Sealift successfully completed the combination of its
businesses with the Dockwise group of companies.
* The first heavy lift vessel, Front Sunda, was delivered to Sealift in
May 2007.
* In June 2007, Frontline sold its single hull Suezmax tanker Front
Horizon (1988) for net sale proceeds of $28 million. Delivery is
expected in the third quarter.
* In June 2007, Frontline sold its entire holding of 25.5 million shares
in Sea Production for a net price of NOK 15.75 per share, equal to
approximately $67 million.
http://biz.yahoo.com/pz/070822/125403.html
GM Stuffit. GDOCF. I did not find any link to the Q2 Conference Call (maybe it will come later in text form to GDOCF's website), but here are comments of a shareholder, who attended the meeting:
Mr. Billung:
- Second half of the 2007 and Q1/2008 will be very strong
- Supply of vessels is tight - utilization degree 98%
- One new Panamax will be added to the fleet in Q4/2007
- One additional newbuilding contract for a Capesize acquired, delivery in 2010. Price $79 million.
- GDOCF will move more vessels to spot market on second half
- Overall feeling is that GDOCF wants to grow STRONGLY further
- GDOCF is looking for acquisitions. More Capesize vessels, most probably an Asian bulker. JinHui Shipping perhaps?? - No comment from Billung.
(FYI: JinHui = JNSTF.PK $11.05 - VERY thinly traded in USA).
- Mr. Billung has sold all his 30,000 shares of GDOCF and he holds 1,500,000 options to acquire shares of the company. The O/S of the company with issue of new shares will be 271,565,107.
My notes: There are not so many Asian bulkers worth buying - their fleets are too old. Many of the vessels should already have been scrapped, but as long as you get $25.000/day with your vessel, it is not easy to decide to delete it. Very old ships are mainly a problem of Asian shipping companies.
International Marine authorities are discussing stricter regulations (age, conditions) for dry bulk vessels, too. In tanker world, all tankers must be double-hulled by 2010.
Interesting to see what GDOCF will go looking for to buy. (If they do not find anything, we'll get the money :)
Mr. Billung selling his 30.000 shares is not important. He is a trader too. Directors in Fredriksen empire do not get payed too handsomely, they have to work to get them money, lol.
GDOCF up 4.48% in Oslo at NOK 24.50 = USD 4.14 as I write this.
Xanadu
GDOCF. Q2 Presentation. Let's see if the link works now.
21/08-2007 10:27:00: (GOGL) GOGL - Q2 2007 Presentation
Please find enclosed the presentation of the
Preliminary Second Quarter 2007 Results, held in
the morning on Tuesday August 21, 2007.
Oslo August 21, 2007
Ekstern link: http://hugin.info/135378/R/1148068/219167.pdf
Edit: Looks like it works. See last page: CONCLUSION
DPDW. GM Wildbill. Look at those results! All subsea service companies are also up strongly in Oslo, and they are investing in new vessels and equipment heavily. Many subsea pipelines and cable grids are becoming old now, and need renovation. And in addition, all subsea equipments need supervising all the time, and there will be more and more to supervise, when the exploration and drilling moves to deeper and deeper in the sea and to totally new areas (West-Africa, Asia, West-India).
DPDW seems a solid business, and is in right business in right time.
GM Stock Lobster. I have been sailing for two weeks, so I noticed I have forgot my English lol. With 'eigentlich' I tried to say 'actually', tatsaechlich. (Not that I know that you know it :)
GM Stuffit. It was eigentlich amazing that they deducted the whole loss from this quarter earnings, and yet made $25 mm. For Q3 the net result is predicted to be ca $40 mm, so the dividends can be then much better :)
Mr. Herman Billung, the CEO, will have a conference call later in the afternoon. I try to find you a working link for that. It will be very interesting, especially his forward looking comments.
The price has stayed this low because of that loss, but I think that now it will begin to climb.
GM Shippingfans! Bulker market has stayed strong (BDI 7289), and the high season approaches. GDOCF ($4.01) had a reasonably good Q2: net income $25.6 mm, EPS $0.09, revenues $124.7 mm (sigh of relief). Remeber, they made $15 mm loss in FFAs (Freight Future contracts), they did not expect the dayrates stayed so strong on Q2 spotmarket.
Not bad for GDOCF. Positive outlook for Q3, and they have ships enough on fixed dayrates. Dividend $0.05/share. Up 2.33% in Oslo ($4.08).
The Press Release (pdf):
Q2 2007 Results
FRO will report tomorrow. Tanker fixtures have lagged, but September FFAs are on rise.
Xanadu
Edit:
Oops, that link does not apparently work. Must wait for Yahoo news.
BQI is busy today. HOD $5.27 Nice :)
Right you are, nothing is different. Big boys must have their half-year corrections. This week has been excellent to shut the computer and TV and not to listen the news, especially when our "indian summer" continues and the winds are mild.
Bingo! Mako technologies sounds like a perfect acquisiton! Subsea services, especially diving operations = divers, are most wanted in offshore drilling business now.
GDOCF ($4.05) Sale of vessel
Golden Ocean Group Limited ("Golden Ocean" or the "Company") has agreed to sell the vessel "M/V Shinyo Brilliance".
The vessel is a Panamax bulker and is one of the long term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72 million net.
The strike price for the option is about $20 million net and the transaction will thereby free up approximately $52 million in cash liquidity.
The sale represents no change in strategy for Golden Ocean but should be seen as an opportunistic move up against the large ordering of new tonnage at reasonable prices which the Company recently has concluded.
The increased liquidity and the committed financing for the newbuilding program puts the Company in a strong financial position to both grow the business and increase the dividend capacity to shareholders.
August 9, 2007
Hamilton, Bermuda
Contact Persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 41
Published: 09:03 09.08.2007 GMT+2 /HUGIN /Source: Golden Ocean Group /OSE: GOGL /ISIN: BMG4032A1045
- - -
Please remember that GDOCF is more than just a dry bulk shipping company, it's following the footprints of "big brother" FRO. FRO buys and sells ships and newbuilding options, buys and sells shares, they build up companies, which they partly sell to the market, partly distribute as dividend to their shareholders. Now they are building SeaLift/Dockwise as the worl's biggest heavy-lift company, and FRO owns 17% of this new company. That's the way GDOCF will go, too.
GE Stock Lobster & al. FYI:
Goldman Sachs upgrades oil service sector to attractive
By Steve Gelsi
Last Update: 9:14 AM ET Aug 9, 2007
NEW YORK (MarketWatch) -- Goldman Sachs analysts on Thursday upgraded the oil service and oil drilling sector to attractive from neutral. "We believe we are in the early stages of a multi-year investment period and believe the recent correction provides an attractive entry point," Goldman said in a note to clients. "We are bullish on the outlook for crude oil prices through 2008 and believe exploration and production spending growth estimates are conservative.
Goldman Sachs: Buy: Diamond Offshore (DO 96.39), Pride International (PDE 34.59), Baker Hughes (BHI 80.53), Weatherford (WFT 54.90), National Oilwell Varco (NOV 116.34) (prices as I write this)
And this time I believe it's not a "buy from us", but they really mean it.
DeepDown (DPDW.OB 0.70) and Boots&Coots (WEL 1.33) are in oil service business, too. DeepDown has been growing agressively (big oil companies are their customers: BP, Shell, Exxon, Anadarko etc) and got lately that $6.0 million financing from Prospect Capital (NOT toxic IMO), ...evidently to acquire something. DeepDown is a "hurricane" stock, because hurricanes often mess up badly the pipelines and constructions on the seabed = DeepDown's working place. BUT DeepDown is not only a hurricane stock, there is always work to do to repair and maintain the enormous grid of pipelines and cables on the bottom of the Gulf of Mexico (GOM). DeepDown will release its Q2 report soon (not announced exact day).
Boots&Coots' Q2 earnings fell (Q1 earnings were strong) because of delays in some projects in GOM and in Venezuela, but they received recently a $21 million new contract in Algeria. Boots&Coots is an internationally growing company, mainly operating onshore but they are moving also to offshore services. Worth keeping an eye on how their Q3 starts to wind up.
Stock Lobster. BQI Have you ever looked at BQI's daily behaviour? I get seasick just watching that 5-day chart of it, but for you traders it looks like an excellent daytrade stock, eh?
Xanadu (sitting here pale and quiet. You know how the Scandinavian crayfish parties are like - snaps of vodka and a toast song after every tail o-o-oh aaah)
Agree, Fringe! Those 3.6 billion new consumers need toothpaste, refridgerators, clothes, cars, pots and pans, shoes etc.etc. because they do have nearly NOTHING now.
I do not think US will be sitting on the fence looking at this.
I just looked at a reportage of a Korean shipbuilder building new, ultra strong tugs. Every tug's motor(s) were made by Caterpillar!
Good Morning Stock Lobster, Good Morning everybody. We have had a very nice and warm late summer in Scandinavia - +27C/80F is a very rare temperature in August here, we call it "Indian Summer". We sailed in weekend over to Estonia and played golf in Niitvaelja, near Tallinn.
I was expecting some kind of "six month correction of Big Boys", but maybe this time it is something more serious.- longer lasting. On the other hand, Britain and Australia had the same kind of problem with housing and financial markets, but it did not became a catastrophy and has been settled down after big noise in the press soothed out. In Europe we are worried about the strengthening euro against weakening dollar. Is is a real problem for companies manufacturing and selling in euros, not to mention those manufacturing in euros and selling in dollars (Nokia).
I was just watching Jim Rogers on CNBC, and he said the same thing you said somewhere in your last night discussions: FED was not created to bail out Bear Sterns' and Goldman Sachs'. Its job is to protect the currency of The United States. He said that Mr. Greenspan was too polite to the Wall Street guys, and that he hopes that Mr. Bernanke takes firmer grip and DOES NOT lower the interest rates. He said also that Chinese renmimbi is unfairly valued too low in the global market, but then he said of course: Buy renmimbi!
I agree with him that the financial markets are a problem in any part of the world, and it is the job of other economic sectors to keep the world going around. And with 3.5 billion new consumers coming to the market after a long hibernation, the world surely will go around. Even in Africa there are countries now with +6% GDP! World economy is doing well, and China will be the leader in 21st century, after the predecessors: Roman Empire, Spain, France, Britain, Germany and USA. Tide is turning now to Asia.
That's how it goes
and everybody knows
Top Tankers (TOPT $6.67) posts Q2 net profit
Fri Aug 3, 2007 8:01AM EDT
.
Aug 3 (Reuters) -
(in $) Latest Yr-ago qtr
EPS (diluted) 0.18 -0.24
EPS, after specific items 0.15 -0.24
Net (million) 5.8 -6.8
Voyage revenue (million) 75.3 69.9
Reuters Estimates: EPS $0.03 (two analysts), revenue $68.4 million, (two analysts).
(Reporting by Ramya Dilip in Bangalore)
© Reuters 2007. All rights reserved.
Many of the companies I'm interested in are already in your iBox, and those interested can get their DD there. What I am looking for are emerging, growing companies in USA, mainly in o&g and shipping service sector, and tried to find other interested here, who may have information about such companies.
I cannot do and post any DD for companies, which I do not even know of.
And no discussion and opinions on those results? The results of the companies I get elsewhere. What I wanted to do - and I see there are others too - is to discuss the results with other posters.
I looked at the boards you mentioned, but they seem to be too diversified. I am only interested in sectors of o&g and marine industry.
Good day.
IOX will release its 2Q results on August 10th (IOX releases its monthly production results every month on 10th or next business day). I hope you can get some shares of IOX before that.
Can you see the price of IOX at Oslo bourse during the day? Down now 0.98% at NOK 50.50 as I write this.
Please tell me what stocks you really like in USA and Canada? Only US stocks I have now are AAPL (Apple Inc.) and BQI (Oilsands Quest, a Canadian oilsands explorer).
Xanadu
In my e-mail inbox. If you want to have news and updates about FRO SDRL GDOCF and soon Dockwise (SeaLift) sign in:
pressreleases@huginonline.com
Good Morning SL. SDRLF.PK. Deepwater drillers are getting long contracts:
Published: 08:49 02.08.2007 GMT+2 /HUGIN /Source: Seadrill Limited /OSE: SDRL /ISIN: BMG7945E1057
SDRL - Seadrill secures long-term contract for West Alpha
Seadrill has been awarded a letter of intent by a consortium of independent oil companies for the assignment of the semi-submersible drilling unit West Alpha. The contract has a firm duration of three years with an option to extend the contract length to either four or five years. Estimated contract value is approximately US$503 million, US$642 million or US$766 million for the three, four or five-year alternatives, respectively. West Alpha will mainly be drilling exploration wells on the Norwegian continental shelf. Commencement of operations is scheduled for February 2009, in direct continuation of the current contract. The letter of intent is subject to board approvals.
Kjell E Jacobsen, Chief Executive Officer of Seadrill Management AS, said: "This contract is yet another important building block in the process of making Seadrill a great drilling contractor, and demonstrates the continued strength of the market for quality drilling units".
Analyst contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
+47 51 30 99 19
Media contact:
Kjell E Jacobsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19
Seadrill Limited
Hamilton, Bermuda
August 2, 2007
Transocean (RIG) Fleet Contracts. Not bad outlook for deepwater offshore drillers. Long contracts with huge dayrates: Dec-07 to Jan-11 $520,000!!
BP wants to find oil.
Hello FIFOkid. Have you asked Etrade? They have subsidiaries here in Scandinavia and we can trade Norwegian stocks, too.
Check their website in USA and call them.
Another possibility could be Interactive Brokers. They are very international.
If the online brokers cannot help you, I'm sure the big brokerhouses (Goldman Sachs, Merrill Lynch) can buy foreign stocks (and charge big courtages!). If you just want to buy the stocks and hold them for a longer time, ask your bank, too.
I am an European (live in Finland) and that's why I follow and invest in the Norwegian and Danish companies. Have followed some US companies too: RIG, DO and GSF, and some small service companies: DPDW and WEL.
Hello 10bagger and all the others. I am glad I found this board discussing o&g services, which I think now is a very interesting sector both as an investment and as various industries itself.
I see that you know well and write much about the Norwegian o&g service companies. Are you a Norwegian? I myself am interested in the Norwegian sector, and have followed it for a long time (mostly shipping and offshore drilling), but now I see the service sector becoming more and more important in the whole marine industry.
I believe there are much people around here, who see the possibilities of this sector and would like to have more information and discuss it. I hope they find this board to participate sharing information.
Xanadu
FYI. Note: drillships do the exploration work. Semisubmersibles and jackup rigs do the production work.
Pride International, Inc. Acquires Ultra-Deepwater Drillship With Expected Delivery in Early 2010
HOUSTON, July 25, 2007 (PRIME NEWSWIRE) -- Pride International, Inc. (NYSE:PDE $35.49) today announced that it has acquired an ultra-deepwater drillship currently under construction at the Samsung Heavy Industries Co., Ltd. (SHI) shipyard in Geoje, South Korea. The drillship is being constructed on a fixed-price basis, with an expected delivery date during the first quarter of 2010. Pride acquired the drillship from Lexton, Inc., an affiliate of the Tanker Pacific group of companies.
The rig is Pride's second ultra-deepwater drillship project with the yard. The expected construction cost of the drillship is an estimated $675 million, which includes $108.5 million to be paid to Lexton at closing, commissioning and system integrated testing. The company expects to fund the cost of the rig through available cash and borrowings against its revolving credit facility.
"This acquisition is consistent with our stated strategy to invest in premium, offshore drilling assets, with a particular focus on deepwater. When combined with our recently announced drillship construction project and acquisitions of our partners' interests in two deepwater joint ventures, we have now invested or committed over $2 billion toward our deepwater growth strategy," said Louis A. Raspino, president and chief executive officer of Pride International, Inc.
Raspino added, "Strong global demand for energy and attractive commodity prices are fueling our customers' continued growth in exploration and development spending. As a result, we are highly confident that the favorable conditions in the deepwater sector will persist for quite some time, producing attractive opportunities for deepwater drilling rigs, especially ultra-deepwater rigs of this caliber.
"Furthermore, uncontracted ultra-deepwater rig capacity under construction and with an expected delivery prior to the first quarter of 2010 has declined to four units. In light of continued deepwater rig capacity constraints, we believe the planned first quarter 2010 delivery of this drillship will be valuable in meeting the future needs of our clients, and, accordingly, should produce excellent contracting prospects," said Raspino.
The drillship is based on an SHI proprietary hull design measuring 750 feet long, 140 feet wide and offering a variable deck load of 20,000 metric tons. The rig will be capable of operating in water depths of up to 10,000 feet and drilling to a total vertical depth of 40,000 feet. In addition, the rig will feature dynamic positioning station-keeping with DPS-3 certification, expanded drilling fluids capacity and a 1,000 ton top drive. The drillship will be initially equipped for drilling in water depths of up to 7,000 feet.
Pride International, Inc., headquartered in Houston, Texas, is one of the world's largest drilling contractors. The company provides onshore and offshore drilling and related services in more than 25 countries, operating a diverse fleet of 277 rigs, including two ultra-deepwater drillships, 12 semisubmersible rigs, 28 jackups, 16 tender-assisted, barge and platform rigs, five managed deepwater rigs and 214 land rigs.
The Pride International, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3388
Statements regarding rig operating specifications and the expected date of delivery, customer requirements for deepwater drilling capacity, customer drilling plans, future demand for rigs, status of the deepwater drilling sector and expected contracting opportunities, location for rig construction, fixed-price project cost, as well as any other statements that are not historical facts, are forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
CONTACT: Pride International, Inc.
Analyst Contact:
Jeffrey L. Chastain
(713) 917-2020
Media Contact:
Christie M. Kaluza
(713) 917-2339
FYI. This is a bit old article by Motley Fools, but has some basic information about the situation in deepsea drilling. Nothing much has changed in the rig count after this article was published in February.
I Love Deepwater Drillers
http://www.fool.com/investing/general/2007/02/13/i-love-deepwater-drillers.aspx
Robert Aronen
February 13, 2007
There's one sector of the oil patch I really love -- the deepwater drillers. These companies operate some of the most sophisticated equipment on Earth -- oil-drilling rigs that can operate in up to 12,000 feet of water depth and drill to total depths of 40,000 feet. With high oil prices and limited untapped areas for the major exploration and production companies to drill, demand for these rigs has skyrocketed, sending dayrates (the industry term for pricing) and earnings to record levels.
Limited supply
If you know only one rule of economics, it's probably that prices are set by a balance of supply and demand. If you have limited supply and high demand, prices will rise.
In the deepwater-drilling industry, there are only a few companies with the capabilities to operate in the tough deepwater environment. The limited supply becomes clear when we add up the deepwater rigs from five of the largest drilling companies in the world: Transocean (NYSE: RIG), Noble (NYSE: NE), Diamond Offshore (NYSE: DO), Global Santa Fe (NYSE: GSF), and Ensco International (NYSE: ESV). Adding all five fleets together, I find 51 active rigs capable of drilling in water depths of 3,000 to 9,999 feet and only 11 active rigs capable of drilling in 10,000 feet or more.
Increasing demand
Deepwater drilling services are in demand for a combination of reasons, but probably the biggest driving factor is that deepwater exploration areas are a relatively new frontier in the oil patch. The chances of finding a giant oil field in Oklahoma, West Texas, or anywhere else that has been explored for the past 100 years is highly unlikely. In contrast, in water depths greater than 7,500 feet, exploration and production has only been possible for the past 20 years, and production in water depths greater than 10,000 feet has been possible in only the past four years.
World Record Drilling Depths
Year Max. Water Depth
1977 3,937 feet
1988 7,467 feet
1996 7,612 feet
2003 10,011 feet
Source: Transocean
Furthermore, deepwater oil fields are being explored around the globe. Transocean alone has deepwater rigs active in the Gulf of Mexico, West Africa, Brazil, East Asia, Egypt, Australia, India, and the North Sea. These new frontiers have been responsible for some of the largest new discoveries in recent years.
The result
As basic economics would suggest, limited supply and strong demand has caused prices to increase. Maximum dayrates for the latest-generation rigs have soared from about $250,000 in 2003 to over $500,000 today.
As one would expect, the increase in dayrates has triggered an increase in supply of rigs. Over the next few years, there will be 10 new built rigs and upgrades capable of 10,000-12,000 feet of water depth entering service. However, even with 10 new rigs, the total supply of ultra-deepwater capable rigs will be very small. Furthermore, the new rigs are being built in conjunction with long-term contracts, not on speculation.
Perhaps, like so many loves before, this one will eventually fade. Oil prices will someday fall; limited supply will become surplus. But from where I sit, that day is several years into the future, maybe even not until 2017. ... Until the love is lost, I'll craft sonnets for this sector.
Fool contributor Robert Aronen owns shares of Diamond Offshore and Transocean. He thinks it's no small coincidence that Transocean is reporting 2006 results on Valentine's Day. The Fool has a disclosure policy to fall for.
Legal Information. ©1995-2006 The Motley Fool. All rights reserved.
Good evening Stock Lobster. Thank you for all the articles you posted today and yesterday. Very informative and usefull reading for the weekend. Excellent service you give us!
BQI is good emerging company, which can reward the shareholders very handsomely. Is there really that big short interest - 12 million of 250 million shares - in this stock now!??.
I expect part of the reward to come already in September/October with the official confirmament of the resources, and when rumours about a JV begin to circulate. Remember also the poison pill!
BQI made some moves early when all the other companies were totally nonchalant about oilsands resources. Chris Hopkins, CEO of BQI (one of the creators of Synenco, a big private oilsands company in Canada) knew, what he was doing. BQI got the huge acreage in Saskatchewan at a ridiculously low price.
OFFSHORE DRILLING. I remember, when the Norwegian companies (you may already know these: Fred Olsen Energy FOE, Awilco Offshore, SeaDrill, Ocean Rig, Subsea/Sinvest etc.) began ordering and buying jackups and semisubmersibles in 2002-2005, I and many others were wondering why the US drillers were very cautious, and did not order or buy anything (except GlobalSantaFe!). Now these emerging companies have modern and more effective rigs (= drilling deeper) coming, and they will be very competitive against the big companies.
As long as the drillers do not hit in a BIG oil reserve at the bottom of the sea, IMO offshore drilling will be a very profitable investment area :)
Ah-haa! That's why you know Drammen and have a lively interest in tankers! Very understandable. It's now those little emerging companies there that could become a new Aker Yard.
Good Night and have a pleasant summer evening (remembering Drammen :)
I know Stuffit that you will find the right companies, if you want to. Just keeping your interest in these money making sectors awake...
Stock Lobster. You have done very wisely all your investments. Of course there's no idea to invest in foreign stocks, if you do not know the stocks. What makes me to try to tell you and other members of the board about shipping and o&g drilling stocks comes from my own good experience of investing early in growing companies' stocks in these sectors. I have seen many times how a modest investment can grow exponentially, just watching a small company grow and develope into a prospering enterprise. Norway is a superpower in marine and shipping industries as well as in oil drilling, and there are so many emerging companies now in both shipping and drilling, which have good potentials to grow, and they grow now fast. If you get in at a low price in a growing company, you need not worry so much for the market fluctuations later.
More preaching. I have been a little astonished because when you knew that dollar is going to go down, why didn't you buy stocks in foreign bourses? I understand that it is as much possible for you to buy stocks from Frankfurt or Oslo - and enjoy the strengthening of euro or Norwegian Krone - as it is for us Europeans to buy stocks in USA (and enjoy the weakening dollar :)
Yes, they surely do - and have done. That's why I keep preaching about those sectors: put a part of your gains in shipping/offshore drilling.
Thanks, SL. I don't know much trading pinkies because I do not have L2 for them :( (I know I know, I SHOULD have it to play pinkies, that's why I do not usually play them).
Let Harvey take his afternoon nap, so he will again be blixtsnabb in the afternoon!
Yes. Harvey was right!
BQI. What do you think BQI will do? (or should I call Harvey?) The daily chart looks explosive to up or down.