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GFCI....Is the acquisition of Exxon-Mobil(as reported on their website as "news") still proceding??
Who knows though....could get a big spike up. I've seen sillier. Maybe the company is on the level after all???....but that website fiasco sure scared me off!
LOL!!
Rogue
erehwontim......I concur with Lentinman. That was a nice little post for 'VM ZipCodeChangers'.
Thanks!
Rogue
Inflation versus deflation
April 22, 2005
Here is a question that pops up over and over again: does the future hold inflation or deflation?
Inflationists point out that rising energy prices will cause prices in general to rise, and that is inflationary. Deflationists say that slowing economic growth will cause prices to fall. However, these are not the issues. They are the consequences of events and circumstances.
Inflation is not a general increase in prices, and similarly, deflation is not a general decrease in prices, just as fever is not an infection. Fever is the consequence of an infection and if you don’t know that, how would you know to look for the infection and cure it? You can mitigate the fever with drugs, but that won’t make the infection go away. As long as people think inflation is an increase in prices and deflation is a decrease in prices they will not be able to look beyond the nonsense promoted by the general media.
Monetary inflation is an increase in the supply of money and deflation is a decrease in the supply of money. That is it. But when the money supply increases, money loses value in relation to goods and services and that can lead to a general increase in prices. The increase in prices, however, is a consequence of money losing value. Price increases themselves are not inflation. Suppose that the money supply remains constant but that the supply of steel is interrupted for some reason. The price of steel will most likely rise, but that is not inflation. It is true that if steel output is diminished then the amount of money relative to available steel will increase and the same would occur if steel output remained constant and the money supply increased. Both events would lead to higher steel prices but only the latter increase would be due to inflation.
Deflation, of course, is just the opposite: a decrease in the money supply.
But what is money supply? Senator Ron Paul asked Federal Reserve Chairman, Alan Greenspan, what he considered to be the best tool to measure money supply. Greenspan plainly admitted that he was at a loss for picking out what such a measure might be. When Senator Paul suggested that it must be difficult to manage something you cannot even define, Chairman Greenspan not only agreed with him but also said it was “impossible”. What a startling admission by United States’ leading maker of monetary policy. If we don’t know what money supply is, how can we determine whether the money supply is increasing or decreasing?
We could count the number of notes and coins outstanding, but that does not give us a clear picture of money supply since it does not account for debt, and debt plays an enormous role in our current financial system. There are monetary aggregates, such as M1, M2 and M3 that include various forms of deposits at financial institutions as well as notes and coins in circulation. The concept behind these categories is that they represent decreasing levels of activity, with M1 being the most active. I often use M3 for my own calculations since it is the broadest measure of money. But in reality M3 still does not account for all of the money outstanding.
According to the Quantity Theory of Money, MV = PT.
M is the money supply,
V is the velocity of money,
P is the average price level and,
T is the total number of transactions.
While the above equation is not a definition of money, it can give us some indication of what might be going on. The national income (I) is the total income earned in a country and is a known entity. It is also equal to the total number of transactions times the average price level: I = PT (note that P and T cannot be measured directly). That implies that the national income also equals MV, the product of the money supply and the velocity of money.
The US national income doubled from 1990 to 2004, from $5.1 trillion to $10.3 trillion. All we really know then is that the product of money supply and the velocity of money doubled as well. How much of that was due to an increase in money supply and how much of it was due to changes in the velocity of money, we don’t know.
We can get some idea of what the money supply did by looking at M3. From 1990 to 2004, M3 increased by almost 130%. Assuming then that the total money supply increased by a similar percentage, and since that increase is greater than the increase in national income, one could infer that there has been an offsetting decrease in the velocity of money.
Could it be that the dollars that China and Japan are hoarding have reduced the velocity of money relative to the inflation of money? Given that China and Japan together hold over 20% of the outstanding US Treasuries, which is equal to about 9% of M3, I would say the answer is yes.
Now to get back to the question of which will win out: inflation, or deflation.
The United States is saddled with a lot of debt. Individual, corporate and government debts are all at unprecedented levels. Debt expansion in the US is a consequence of record low interest rates during a period of relatively high economic growth and prosperity. Those who argue that inflation is more likely say that the economy cannot withstand a dramatic increase in interest rates and therefore the Federal Reserve will not allow interest rates to rise either too rapidly, or too far. They also contend that the Federal Reserve will most likely reduce interest rates at the first sign of economic trouble and low, or falling interest rates, will be conducive to even more debt creation, which is also an increase in money supply, and therefore inflationary.
Deflationists argue that the amount of outstanding debt, and borrowers’ ability to pay the interest and principle due on that debt, are the real risks. Should the economy slow down, or interest rates rise, we could see an increase in the amount of defaults and bankruptcies. If the lenders do the correct thing, which is to write the bad debt off their books, the money supply will be reduced and that is deflationary.
I am in the deflationists’ camp.
How will commodity prices and the price of gold be affected?
I expect China will allow its currency to appreciate against the dollar and since that implies it, and Japan, no longer need to hoard as many trade dollars as they are currently hoarding, the dollar exchange rate will fall (see last week’s commentary at www.paulvaneeden.com). It also means that China and Japan will buy fewer US Treasuries, implying US interest rates will rise. A rise in US interest rates will stifle the US economy and that is when the debt load will become a factor. With rising interest rates and a slowing economy we could see a dramatic increase in personal and corporate bankruptcies, which is, of course, deflationary.
But offsetting this deflation of the money supply could be an increase in the velocity of money since Japan and China will not be hoarding as many dollars. An increase in the velocity of money appears inflationary, as it can make prices rise. So even though we may be experiencing deflation in the true sense of the word, it could well be masked by an increase in the velocity of money.
If, indeed, we see a slowdown in US economic growth we should also see an increase in unemployment. An increase in unemployment, rising interest rates, slowing economic growth and an increase in bankruptcies are not going to make US consumers feel wealthy. We will see the wealth effect in reverse as consumers begin to save and cut down on their spending.
But at the same time, the US dollar will be falling. The US is grossly dependent on foreign products, so even though we might be in a deflationary period we could still see the prices of imported goods rise. Oil is one such item. An increase in the oil price, however, ripples through the whole economy and puts upward pressure on prices. Most significantly, it causes the price of gasoline to rise, directly impacting the disposable income of consumers.
The US might surprise me and reduce its oil consumption, but will it be enough to offset the falling dollar? Keep in mind that oil prices could fall in Europe, China and Japan while the price of oil rises in the United States.
Less consumer demand and slower economic growth will have an impact on discretionary purchases. So I expect we will see the prices of capital goods, luxury items and non-essentials go down in the US assuming that they are not imported or made from a high percentage of imported items. Automobiles come to mind. Look at the state of the US automobile industry and you will see that it is already in shambles. I would not be surprised to see an American automobile manufacturer declare bankruptcy.
To people looking only at prices and thinking that they are observing inflation or deflation, the picture will be muddy. Most people look at the Consumer Price Index and assume they are getting a clear picture, but they’re not. The Consumer Price Index is a very unreliable gauge of inflation, real or imagined. Even so, those that look at the prices of food and energy, as well as imported materials, will think we are experiencing inflation. Those that look at the prices of capital goods will think we are in deflation. But if you look at the money supply, I think that the biggest threat is deflation and there is, in my opinion, not a thing the government can do about it.
By having both a trade deficit and a budget deficit, especially given their magnitudes, the government’s hands are tied. China and Japan will decide the fate of the US dollar and the US economy.
Now, regardless of whether we see inflation or deflation in the United States, the price of gold in US dollars will rise if the dollar falls. It is as simple as that. If the US were the only economy in the world, and the US dollar the only currency, then we could have predicted what will happen to the gold price under either inflationary or deflationary conditions. But the reality is that gold is truly an international currency. Its price is relatively constant, and rises over time in proportion to the inflation of fiat currencies. When measured in one specific currency, such as the dollar, the gold price becomes inextricably linked to that currency’s exchange rate.
If you’re trying to figure out whether the gold price will rise or fall depending on whether the US experiences inflation or deflation you are wasting your time. In the short term the gold price in US dollars will rise or fall depending on what the US dollar exchange rate does. In the long term the gold price in US dollars will depend on the inflation rate of the dollar. Since the dollar is a fiat currency, it is bound to be inflated until it is worthless, however long that may take.
Paul van Eeden
Rogue
Economic Worries Aren't Resonating on Hill
Thu Apr 21, 7:41 AM ET Politics - washingtonpost.com
By Jonathan Weisman and Dan Balz, Washington Post Staff Writers
Inflation and interest rates are rising, stock values have plunged, a tank of gas induces sticker shock, and for nearly a year, wages have failed to keep up with the cost of living.
Yet in Washington, the political class has been consumed with the death of a brain-damaged woman in Florida, the ethics of the House majority leader, and the fate of the Senate filibuster.
The disconnect between pocketbook concerns of ordinary Americans and the preoccupations of their politicians has helped send President Bush's approval ratings on the economy down, while breeding discontent with Congress. The problem has yet to grow into a political wave that could sweep significant numbers of lawmakers from power next year, but both parties face risks if they fail to pivot their attention to economic issues.
"There is a lot of frustration," said Rep. Vernon Ehlers (news, bio, voting record) (R) on Tuesday, as he was returning from his district in western Michigan. Republican leaders "need some seats from the Midwest and Northeast to maintain a majority, and if we continue at the rate we're going, we may well lose a few seats."
Few economists would say the nation is at risk of slipping back into recession, but most believe the United States is back in a "soft patch." Inflation jumped 0.6 percent in March, the Labor Department said yesterday, the biggest price surge in five months. The 115-point plunge that followed the inflation announcement brought the Dow Jones Industrial Average to its lowest level of the year, 842 points below the height it reached in late December, when Wall Street rallied after Bush's reelection. An average gallon of unleaded gasoline cost $2.22 yesterday, 27 cents higher than election week.
Perhaps most important, wages are not keeping up with prices. Adjusted for inflation, average weekly earnings fell by 0.3 percent from February to March, the Labor Department reported yesterday. Inflation-adjusted hourly wages last month were a half-percent lower than a year ago. Real weekly earnings have not risen in four years.
"Pretty much all round, March now looks like a lousy month for the U.S. economy," J.P. Morgan Chase economists warned clients this week.
The Washington Post/ABC News Consumer Comfort Index, released Tuesday, climbed two points from last week's 2005 low, but it is still down seven points over the past month. Nearly half of those polled this month say the economy is getting worse, the most negative rating in two years of monthly polls.
"People feel vulnerable and besieged," said Lawrence Mishel, president of the labor-oriented Economic Policy Institute, "and they don't hear anybody talking about it."
Yet the only economic bills signed into law this year have tilted against the little guy: Legislation that restricts class-action lawsuits, and a major rewrite of the nation's bankruptcy laws, signed yesterday, that will make it harder for debt-ridden Americans to wipe out their obligations.
The Washington area has been insulated from some of the current economic problems. Gasoline prices here have risen as rapidly as elsewhere, but the area has a booming real estate market and strong job growth.
Beyond the Beltway, the real curiosity is why the economy has not become a more significant political issue this spring. One reason may be the media's preoccupation with other news: the deaths of Pope John Paul II and Terri Schiavo, and debates about the future of Social Security and the federal judiciary.
Another may be the degree to which partisanship rather than the actual state of the economy shapes attitudes toward Bush's performance. Republican pollster Bill McInturff said that attitudes about Bush are generally fixed -- with Republicans overwhelmingly supportive and Democrats overwhelmingly opposed -- and affected primarily by terrorism and security. Therefore economic changes have less impact on this administration than past administrations.
Still, there is evidence that the public may be paying closer attention to economic issues, particularly rising gasoline prices, than politicians in Washington realize. The most recent NBC News-Wall Street Journal poll found that gasoline prices ranked second behind Schiavo as the most closely followed story during late March.
Ehlers said he has been getting an earful from constituents, angered by gas prices, frightened by the latest layoff announcement, this one from the Grand Rapids-based office furniture giant Steelcase Inc., and frustrated by Congress's inattention. The negative reaction to Congress's intervention in the Schiavo case was particularly jarring, Ehlers said.
"Many are rather upset at the Terri Schiavo issue," he said, even "moderately pro-life" voters. "I'm getting a lot of the, 'Why are you spending time on that when we don't have jobs?' type of thing."
In Michigan, jobs and the economy have vaulted to the No. 1 concern of 34 percent of voters, with the closest other issues, health care and education, at a distant 15 percent, said Ed Sarpolus, an independent Michigan pollster. "I haven't seen anything like that since the early '90s and crime," he said.
Michigan is not isolated. A Des Moines Register poll released Sunday found Bush's approval rating in Iowa down to 42 percent, the lowest of his presidency. Only 24 percent of Iowans approved of his handling of the federal budget, 26 percent approved of his efforts to change Social Security and 36 percent approved of his handling of the economy.
"There are serious pocketbook issues lurking in America," said Rep. Jim Leach (news, bio, voting record) (R- Iowa).
Democratic pollster Peter Hart, who conducted the NBC poll with McInturff, said gas prices and other economic indicators have directly contributed to pessimistic views about the state of the country, which have been generally negative in their survey for almost two years.
If gas prices stay high and the market remains sluggish, the economy could mushroom into a dominant issue in next year's midterm elections. "In terms of what they're looking for out of Washington and the president and Congress, [people] are expecting some policy that will address this issue [gas prices]," said GOP pollster David Winston. "It doesn't have to happen tomorrow, but they expect to see some progress being made."
Bush addressed rising gas prices in a speech yesterday, calling again for Congress to pass his long-stalled energy package. But in an interview with CNBC's Ron Insana earlier this week, he acknowledged he has no short-term fix for energy prices. "It took us a while to get to where we are today, and it's going to take us a while to become less dependent on foreign sources of energy," Bush said. "Even signing an energy bill, you don't have an instant fix."
Democrats have been slow to seize on the economy, focusing on Social Security plan, attacking House Majority Leader Tom DeLay (R-Tex.) and a Senate showdown over filibustering judicial nominations. But they weighed in yesterday, charging that the Energy Department had estimated last year that the GOP energy bill would raise gas prices by an average of 3 cents a gallon.
Democratic strategist Geoffrey Garin said Democrats should be working harder to make the case that Republicans are ignoring pocketbook issues while they pursue changes in the judiciary or try to protect DeLay. "The developing story line is about an arrogant Republican majority that's lost touch with what's important," he said. "For Democrats to convey that point, they have to invest a lot of time and energy."
Winston said the economy -- particularly gas prices and their impact on income -- represents a thorny problem for the GOP, but one with significant dividends if the party rises to the challenge. "It's a unique opportunity for Republicans if we can solve it," he said, "and it can be difficult for Republicans if we can't."
Rogue
EGY.......I have a very good size position in EGY. One of my top holdings. I think it is a very good low risk buy in this area.
I think we have a double from these levels before the year is over.
Rogue
I don't like the "market" in general at all.....but I do believe in the energy/basic materials bull! I don't like the prospects for the US$ dollar either.
Might have to fully hedge my longs with some good short positions.
The market is pretty "oversold" now though.....
What to do? What to do?
Rogue
"10 bagger potential".....I agree with most everything you note.....fundamentally could be easy "doubles".
The one thing I envision that gets me excited down the road is the mass pyschology of the investor and the market. If they could get excited and carried away with the "junk" in the Tech/Internet mania/bubble a few years ago....Can you imagine if oil hits $100 per barrel in the not too distant future?
I feel they have "explosive" speculative potential(micro oil/gas) and limited downside.....but of course I could be wrong!
Rogue
2 or 3 years is a long time horizon, but I've experienced some of my best gains investing of the past 21 years by sitting tight(in the "vernacular" of Jesse Livermore). I do believe some of these micro Oil and Gas companies will have spectacular "moonshot" charts before this super energy bull is over.
I have learned over the years some of my biggest mistakes investing has been to "book" quick trading profits and miss the "big moves". That is why I have "core" positions in ASPN/BSIC/FPPC that I "sit tight" with.....and also love to trade in and out of them with a "trading" position.
Rogue
BSIC/ASPN/FPPC....I own all three. Which do you believe has the best "10 bagger" potential down the road? I have patience and could easily wait 2 or 3 years with my "core" position.
Anyone???
Rogue
Ameritrade Loses 200,000 Client Files
1 hour, 7 minutes ago Business - AP
By EMILY FREDRIX, Associated Press Writer
OMAHA, Neb. - Leading online discount broker Ameritrade Holding Corp. said Tuesday it has informed about 200,000 current and former customers that a backup computer tape containing their personal information has been lost.
The Omaha-based company mailed the notices to its clients last week, spokeswoman Donna Kush said.
The company realized the tape was missing in February, when the package it was in was damaged during shipping between vendors, Kush said. Of the four backup tapes in the package, three were found, but the fourth is still missing, she said.
Information on the tape was for people nationwide who may have been Ameritrade customers from 2000-2003, she said. The data was different for each client and may have included their Social Security numbers, among other information, Kush said.
The tapes were not marked and unless special equipment was used, the compressed data could not be extracted.
Kush said she has not heard of any misuse of the information.
"We are very confident that no harm has been done to any clients, to their accounts, to their information," Kush said.
Kush said Ameritrade did not lose the information, but rather, a third party vendor did.
The news comes as several companies have experienced their own database violations, and some thefts.
Database giant LexisNexis on Monday announced it had started alerting about 280,000 people that their personal information may have been accessed by unauthorized individuals who were using stolen passwords and IDs.
On Monday, Columbus, Ohio-based DSW Shoe Warehouse said that thieves had accessed a database with credit card records on about 1.4 million customers. The company said it has contact information for about half of those people and started sending letters notifying them of the thefts, which happened at 108 stores in 25 states between November and February.
Data broker ChoicePoint Inc., based in suburban Atlanta, said in February that information on some 145,000 consumers nationwide was taken by thieves who opened up dozens of accounts and went undetected for more than a year.
___
Rogue
TREK...You are positive that if they decide to go "public" or sell out in two years at 10 times the current market price(with oil at $100 per barrel!) that the minority shareholders that are left will not see any of the "gains"???
I'm not so sure of that......I guess I'm a speculater at heart and see some real potential here in TREK.
Rogue
FPPC...whomever bought my 5,000 "trading shares" earlier today has a very nice gain so far.
Was the news that good????
Still long 5,000 but see some "heavy" overhead resistance between $2.75-$2.85.
Rogue
TREK.....I own a bunch. It is VERY cheap with lot's of oil reserves. IF management and controlling shareholders are friendly in the future to minority shareholders this could be a "10-bagger" down the road.
Lot's of IFS but huge potential payoff. Share price seems to be "discounting" lot's of negatives.....but very good things could happen in my opinion.
Rogue
PCZ Petro-Canada......"deep value" oil. I wonder what price the Chinese would bid for this???
I recently got long 500 shares.....it's looking good and a great buy here in my opinion.
Rogue
FPPC....OOPS!
Rogue
FPPC....Sold half my position on the big rally today to $2.35. It was just "too tempting" since I was lucky to pick up a decent block on a resting order on the downside push to $1.80 yesterday. Huge one day gain on the "swing"....and I had more shares of FPPC than I really wanted to own long term.
I still hold my shares purchased last week at $2.05.
Rogue
PetroChina to import Canadian crude in 2009
www.chinaview.cn 2005-04-18 13:55:00
BEIJING, April 18 -- PetroChina Company Limited (PetroChina) recently executed a memorandum of understanding in Beijing with Enbridge, the second largest pipeline operator in Canada. Both sides will work together on a project of building new pipeline and transporting crude oil from Canada to inland China.
This project will cost 2.02 billion US dollars. It is predicted that PetroChina can import 200,000 barrels of crude per day from Canada as early as 2009.
Enbridge plans to build Gateway, an oil pipeline with a 30-inch diameter and 1,160 kilometers long. It will transport crude oil produced from Alberta's Calgary Oil Sand to docks on the west coast, and then the crude will be carried by oil tankers to China, the Asia-Pacific area and California.
This will be the first time Asia imports crude oil from Canada. The pipeline is expected to transfer 400,000 barrels of crude oil daily, half of which provided by PetroChina.
According to Jim Rennie, spokesman of Enbridge, his company is the intermediary between PetroChina and the producer of oil sand. The agreement does not contain any promise that PetroChina can become a shareholder or a shipping merchant of the pipeline.
Both sides will sign a binding agreement formally within the year, and Enbridge will put forward relevant applications to local regulators next year. This pipeline will be put into operation in 2009 or 2010.
Rogue
AMEP....why do you like this energy company? How is the balance sheet/reserve prospects?
Give me 2 good reasons why you consider it a "zip-code changer"?
Curious....
Rogue
Some of my buys today include......MRO, ASPN, BSIC, FPPC.
Doing some bargain hunting in the energy patch.
Any "table pounders" out there in the energy patch?????
Opinions welcome!
Rogue
ROYL.... Royal Energy. Anyone still own this or believe in this company? Share price has been very weak.
Anyone still see any value in this one?
Rogue
TREK.....here's the SEC filing. Quite a "read". There is "deep value" here but shareholders will be minority holders and no SEC reporting.
What does the controlling shareholders and management have in mind for the company and it's assets down the road? That is key.....
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001077629%252D05....
Rogue
TREK ....Oil/gas co. earned .42 cents for 2004. Stock currently trading at bargain level of $2 per share.
Form 10KSB/A for TREK RESOURCES INC
--------------------------------------------------------------------------------
15-Apr-2005
Annual Report
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Our Results of Operations
Comparison of the Year Ended September 30, 2003 and 2004
Net income for the fiscal year ended September 30, 2004 was $2,087,000, or $0.42 per diluted share, compared to net income of $1,327,000, or $0.27 per diluted share for the prior year. Our results of operations for fiscal 2004 were favorably impacted by higher oil and natural gas prices, lower interest expense and an absence of hedging losses. Offsetting those effects were:
* Lower oil and natural gas volumes
* Higher lease operating expenses
* Higher production taxes
* Higher depletion costs
* Higher general and administrative costs
Revenues
Oil and natural gas sales were up $800,000 to $8.9 million in fiscal 2004, compared to $8.1 million in fiscal 2003. This difference reflects a $1.2 million increase due to higher average prices for both oil and natural gas, offset by a $400,000 decrease due to oil and natural gas volumes. Weighted average annual prices were $36.11 per Bbl of oil and $5.29 per Mcf of natural gas during fiscal 2004, compared to $29.64 per Bbl and $4.87 per Mcf in 2003.
We sold 137 MBbls of oil during fiscal 2004, versus 139 MBbls in the prior fiscal year. Corresponding natural gas sales were 742 MMcf in fiscal 2004 and 812 MMcf in fiscal 2003. The decrease in oil and natural gas sales volume was substantially due to the natural production decline of our oil and natural gas reserves.
Costs and Expenses
Our lease operating expenses for the year ended September 30, 2004 amounted to $3.98 million, a $180,000 increase from the $3.8 million of expenses incurred during fiscal 2003. This increase in direct lease operating expense is also primarily the result of higher production taxes as well as higher utility bills on our large production units. Operating expenses per Boe, excluding major repairs and workovers, were $11.90 during fiscal 2004, compared to $10.56 in 2003.
Our general and administrative expenses for the year ending September 30, 2004 were $1,080,000, a $137,000 increase from the $943,000 million of expenses incurred during fiscal 2003. This increase primarily resulted from an increase in franchise tax expense.
Depreciation, depletion, and amortization totaled $1.3 million for the year ended September 30, 2004, an increase of $170,000 from the corresponding expense amount reported during fiscal 2003. Our increase in depreciation, depletion, and amortization resulted from higher capital additions to our depletable asset pool, as well as an increase in the estimated future development costs which support our current reserve value.
In September 2001, the Board of Directors approved the re-pricing of the exercise price of certain stock option grants to $1.10 (as adjusted to take into account over 10:1 reverse stock split in February 2003) per option for employees and executive officers effective October 1, 2001. Our financial statements reflect a restatement of the stock option prices to reflect the reverse split. These options, until exercised or forfeited, are subject to variable accounting at each reporting period. Compensation cost of $39,000 was recorded in fiscal 2004 to reflect the market value of our common stock price at September 30, 2004 ($1.98) exceeding the exercise price of the re-priced options ($1.10). No compensation cost was recorded at September 30, 2003 since the market price per option was less than the exercise price.
Other Income and Expenses
We incurred $426,000 of interest expense during the fiscal year ended September 30, 2004, a decrease of $79,000 from the $505,000 of interest expended during fiscal 2003. The decrease stems from a lower outstanding principal balance under our credit facility. We had outstanding borrowings of $7.9 million under our credit facility as of September 30, 2004, compared to $8.8 million as of September 30, 2003.
Other income during fiscal 2004 also improved due to the absence of net derivative losses of $216,000 as well as other extraordinary expenses that appeared in fiscal 2003 related to a proposed sale of the Company at that time. In fiscal 2004, the Company had no outstanding derivatives.
Rogue
Canadian Superior Energy Inc. Advises on Stock Price Move and Comments on Trinidad and Tobago Intrepid Block 5(C)
Friday April 15, 5:31 pm ET
CALGARY, Alberta--(BUSINESS WIRE)--April 15, 2005--Canadian Superior Energy Inc. ("Canadian Superior") (TSX:SNG - News; AMEX:SNG - News) of Calgary, Alberta, said today that it believes recent upward movement in its stock price is associated with a media report from Trinidad and Tobago where the Government of Trinidad and Tobago and the Minister of Energy, the Honorable Eric Williams are reported to have publicly stated today that Canadian Superior has been formally awarded its intrepid block 5©.
Canadian Superior is awaiting formal confirmation of the same by the government of Trinidad and Tobago. Greg Noval president of Canadian Superior said today "the Company looks forward to working with the Government and people of Trinidad & Tobago on this exciting project, and appreciate the confidence the Energy Ministry & Government of Trinidad and Tobago have placed in our company. Once we receive formal confirmation of the above mentioned; this will pave the way for Canadian Superior to drill the first well of our multi-well drilling program later in 2005."
For further information and maps on Canadian Superior's Western Canada, Offshore Trinidad and Offshore Nova Scotia operations and holdings, see Canadian Superior's website at www.cansup.com.
Rogue
Lentinman.....What are you doing with your Oil/Gas stocks? You still own and like SU or COWSF?
I don't believe the run in oil and gas is over (in the "big picture").....this current weakness just may be a great buying oppurtunity.
What are your favorite long-term oil/gas investment plays?
Rogue
Monday Market Prediction........A sharp selloff on the opening. Followed by "bargain hunter buying"....followed by "short covering"(according to the CNBC talking heads). After being down as much as 160 points ,the Dow Indusrtrial Average ends the day up 250 points!
Can you say "Plunge Protection Team"???
Join the Team!!
Rogue
FPPC and ASPN getting smashed right now in the oil/gas patch. I'm adding to positions right here. I don't believe it's over for the energy run. Still one of the only places I believe that has a shot for positive returns in a "bad" market.
Rogue
EGY.....It is holding above it's last intermediate term price bottom of 3 weeks or so ago. Almost hit another resting buy order of mine this morning. As long as prices don't violate the last low in the $3.30 area I think we may see a good rally soon to above $4.00.
Rogue
PCZ....Petro-Canada (NYSE) looks like a good buy right here($54.50) fundamentally and technically. It's quite oversold and offers a good value. Just bought 300 shares a few minutes ago to initiate a position.
I think we'll see new highs on this one a few months down the road.
Rogue
Canadian dollars may be an attractive alternative to the US$ or the euro??
They are a resource rich country and that is a good fundamental reason to like the Canuck currency.
Rogue
EGY.....I think we are very near a trading bottom(if we didn't see it today). I bought a block today near the lows. I'm looking for a rally back to around the $4.10 level soon enough(1st target).
We'll see how it pans out.
Rogue
Anyone nibbling on oil/gas today???
I've been adding here and there.
Rogue
GM short postion looks good today........I wish I had more shorts on a day like today.
Rogue
AAC....not especially attractive to me at these prices, but I will keep an eye on it down the road for buying opurtunities.
Why do you like it here at this price?
Rogue
SYTE.....How do they plan to grow revenues?
Rogue
Carnage in oil/gas natural resources.....anyone doing any buying today in these sectors???
Rogue
TRAC.....still holding and may add more. It should be a great %gainer from these levels someday.
Rogue
They are buying the US$ dollar right now......and nothing else.
I GUARANTEE you it won't last forever!
Rogue
EGSR.....maybe you'll be able to buy it back later on at a significant discount to todays current quote.
It may payoff someday but stock look's vulnerable near-term.
Rogue
Walker's Manual of Unlisted Stocks .......it is an excellent source for microcap ideas!!!!
I've culled countless "double" and quite afew 10-baggers over the years from ideas from that manual.
Get the latest copy. I think the market may be a lttle more "efficient"(or is it "bid up"?) nowadays though.
Rogue
FC.........Wasn't this selling for pennies 3 or 4 years ago???
I remember following it.
Should have been buying a ton back then and selling into the good news today!! That's speculating though isn't it?
Rogue