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CONGRATSULATIONS GENTLEMEN. NICE TURNAROUND UNDERWAY.
HEC HIGHLIGHTS COMING NEXTWEEK. PREVIEW HERE.
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1.1 million gross cubic feet equivalent of natural gas per day!!!!!!!
HEC HIGHLIGHTS COMING NEXTWEEK. PREVIEW HERE.
***********
1.1 million gross cubic feet equivalent of natural gas per day!!!!!!!
.0006 in range. Sorry Gentleman. RU must be churning his 105mil shares on your heads.
Oil falls from records but Mideast conflict rages
10:11 a.m. 07/17/2006 Provided by
By Simon Webb
LONDON (Reuters) - Oil slipped from record highs on Monday in volatile trading as fighting raged between Israel and Lebanese Hizbollah guerrillas.
Concern that the conflict could escalate and spread to Middle East oil producers had earlier sent London Brent crude to a record high.
London Brent for September was down 46 cents at $77.12 a barrel by 1359 GMT, after earlier touching a record $78.18 a barrel.
U.S. light crude was down 46 cents at $76.57 a barrel, over $2 below the high of $78.40 hit on Friday.
Both markets fell sharply after Israel's Channel 10 television cited a senior military official stating that Israel could end its Lebanon offensive within days. The Israeli government quickly denied the report, but it was enough to prompt a round of profit-taking after a four-day rally on oil.
"Given the importance of geopolitics to the market at the moment, prices will see-saw with the news flow," said Eoin O'Callaghan, economist at BNP Paribas.
"There has been so much geopolitical news in so short a time that you are going to get large fluctuations in prices as the news flow changes."
Israeli aircraft blasted Lebanon on Monday after Hizbollah rockets struck deeper than ever into Israel, with no diplomatic initiative in sight to end the fighting.
Neither Israel nor Lebanon are oil producers, but both lie at the heart of the Middle East, which collectively pumps nearly a third of global output.
REGIONAL HUE
The conflict threatens to suck in Hizbollah's Syrian and Iranian allies, and to compound the conflict between the West and Iran over Tehran's nuclear program.
"The crisis has quickly taken on a regional hue, with both Washington and Tel Aviv accusing Iran and Syria of orchestrating the attacks," said Washington-based energy consultants PFC in a report.
"As a result, U.S. policy toward Tehran is likely to harden even further, and could undermine already fraught efforts to resolve the Iranian uranium enrichment issue diplomatically."
The world's fourth largest oil exporter insists it is enriching uranium for electricity generation, but the United States fears that could be a front for bomb-making activities.
Oil Play - HEC Harken Energy Provides Domestic Operations Update
Monday July 17, 10:40 am ET
DALLAS, TX--(MARKET WIRE)--Jul 17, 2006 -- Harken Energy Corporation's (AMEX:HEC - News) wholly owned subsidiary, Gulf Energy Management Company ("GEM"), released updated production figures and well completion status for its domestic oil and gas operations located onshore and offshore the Texas and Louisiana Gulf Coast, and its Coalbed Methane Prospects (CBM) located in Indiana and Ohio.
As of July 17, 2006, GEM's net domestic production rate was at approximately 7.95 million cubic feet equivalent of natural gas per day. "We are pleased to have surpassed the production levels achieved prior to the effects of the 2005 hurricane season. We are also excited about our anticipated 2006 opportunities for the remainder of the year," said GEM President Jim Denny.
Lake Raccourci Field, Lafourche Parish - Louisiana
GEM holds a 40% operated working interest in each of its Lake Raccourci wells. Gross production for this field is approximately 2.8 million cubic feet equivalent of natural gas per day. The State Lease 14589 #2 well is currently shut-in, but GEM has performed a successful workover to repair the State Lease 14589 #2 well. Perforation of the well to re-establish production is scheduled to be completed by the end of July 2006. Estimated gross production from the State Lease 14589 #2 well is expected to be about 4.0 million cubic feet equivalent of natural gas per day. This well could potentially increase gross production for this field to 6.8 million cubic feet equivalent of natural gas per day up from approximately 2.8 million cubic feet equivalent. GEM is presently seeking industry partners to drill a field extension well.
Point-au-Fer Field, Terrebonne Parish - Louisiana
GEM owns a 12.5% non-operated working interest in this approximate 56 square miles area. GEM participated in the drilling of two wells in this field during the six months ended June 30, 2006. The first well is now producing at about 2.75 million gross cubic feet equivalent of natural gas per day. The second well has been logged and cased. A completion rig is anticipated in the fourth quarter of 2006.
During the same period, one workover and recompletion of an existing well was successfully executed, and the well is producing at approximately 1.1 million gross cubic feet equivalent of natural gas per day. A second workover on an additional existing well is planned for the third quarter of 2006. Several prospects have been identified in the area, and GEM expects to have additional drilling and workover activity in this area during 2006.
Allen Ranch Field, Colorado County - Texas
GEM owns an 11.25% non-operated working interest in this area. The initial well, the Hancock Gas Unit # 1, was productive in four sands and has increased its production from 2.5 million to approximately 5.0 million gross cubic feet equivalent of natural gas per day. A second well, the Hancock Gas Unit #2, was drilled and logged as productive in the same four sands as the Hancock Gas Unit # 1 well and two deeper zones were also logged as productive. During 2006, the deeper of the two zones has been fracture stimulated and produced about 5.0 million cubic feet equivalent of natural gas per day. This zone has now been shut-in to test the other productive zone in the well bore.
During the second quarter of 2006, the second zone of the Hancock Gas Unit #2 has been perforated, fracture stimulated, and tested at commercial rates. Two other zones have now been fracture stimulated and tested. Once testing is competed, a temporary bridge plug will be removed and the various horizons commingled for long-term production. Stabilized production rates should be established during the fourth quarter of 2006.
Branville Bay Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, this non-operated property has been returned to pre-hurricane production rates of about 2.9 million gross cubic feet equivalent of natural gas per day. GEM has a non-operated working interest of 12.5% in this area.
Point-a-la-Hache Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, repairs to the production barge at this field were completed, however the current producing zone subsequently watered out. GEM is scheduled to perform a tubing recompletion on this current zone once the workover unit barge is received at the location. GEM estimates this work to be completed by the end of July 2006. GEM maintains a 25% operated working interest in the area.
Lapeyrouse Field, Terrebonne Parish - Louisiana
GEM holds an average non-operated working interest of 8.2% in eight wells in this field. During the six months ended June 30, 2006, GEM has participated in two workovers in the field. Current gross field production is about 23.5 million cubic feet equivalent of natural gas per day. Also in 2006, GEM participated in the drilling of their ninth well in this field, and this well has been recompleted to the next productive sand and is producing about 3 million cubic feet equivalent of gross natural gas per day. GEM holds an approximately 39% operated working interest in this ninth well.
Coalbed Methane Prospects - Indiana and Ohio
Indiana Prospect
In 2005, after the submission of a Phase I core evaluation report by the technical consultant, GEM elected to proceed and fund pilot well drilling under Phase II of the agreement. GEM is experiencing limited availability of needed equipment in order to move forward with the pilot program. However, GEM still expects the drilling of the pilot wells to occur during the third quarter of 2006.
Ohio Cumberland Prospect
Core samples from the Ohio CBM prospect are being analyzed for gas content, gas composition and characteristics of the coal. Depending on final results and availability of equipment, GEM may elect to schedule drilling of pilot wells on its Ohio CBM prospect area during 2006.
Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries and investments. Additional information may be found at the Harken Energy Web site, www.harkenenergy.com. Please email all investor inquiries to HECinquiries@ctapr.com.
Certain statements in this announcement regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production such as "may," "potentially," "expects," and similar terms may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, further testing and analysis, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Harken to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Quarterly Report on Form 10-Q, for the three months ended March 31, 2006. Harken undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
Harken Energy Provides Domestic Operations Update
Monday July 17, 10:40 am ET
DALLAS, TX--(MARKET WIRE)--Jul 17, 2006 -- Harken Energy Corporation's (AMEX:HEC - News) wholly owned subsidiary, Gulf Energy Management Company ("GEM"), released updated production figures and well completion status for its domestic oil and gas operations located onshore and offshore the Texas and Louisiana Gulf Coast, and its Coalbed Methane Prospects (CBM) located in Indiana and Ohio.
As of July 17, 2006, GEM's net domestic production rate was at approximately 7.95 million cubic feet equivalent of natural gas per day. "We are pleased to have surpassed the production levels achieved prior to the effects of the 2005 hurricane season. We are also excited about our anticipated 2006 opportunities for the remainder of the year," said GEM President Jim Denny.
Lake Raccourci Field, Lafourche Parish - Louisiana
GEM holds a 40% operated working interest in each of its Lake Raccourci wells. Gross production for this field is approximately 2.8 million cubic feet equivalent of natural gas per day. The State Lease 14589 #2 well is currently shut-in, but GEM has performed a successful workover to repair the State Lease 14589 #2 well. Perforation of the well to re-establish production is scheduled to be completed by the end of July 2006. Estimated gross production from the State Lease 14589 #2 well is expected to be about 4.0 million cubic feet equivalent of natural gas per day. This well could potentially increase gross production for this field to 6.8 million cubic feet equivalent of natural gas per day up from approximately 2.8 million cubic feet equivalent. GEM is presently seeking industry partners to drill a field extension well.
Point-au-Fer Field, Terrebonne Parish - Louisiana
GEM owns a 12.5% non-operated working interest in this approximate 56 square miles area. GEM participated in the drilling of two wells in this field during the six months ended June 30, 2006. The first well is now producing at about 2.75 million gross cubic feet equivalent of natural gas per day. The second well has been logged and cased. A completion rig is anticipated in the fourth quarter of 2006.
During the same period, one workover and recompletion of an existing well was successfully executed, and the well is producing at approximately 1.1 million gross cubic feet equivalent of natural gas per day. A second workover on an additional existing well is planned for the third quarter of 2006. Several prospects have been identified in the area, and GEM expects to have additional drilling and workover activity in this area during 2006.
Allen Ranch Field, Colorado County - Texas
GEM owns an 11.25% non-operated working interest in this area. The initial well, the Hancock Gas Unit # 1, was productive in four sands and has increased its production from 2.5 million to approximately 5.0 million gross cubic feet equivalent of natural gas per day. A second well, the Hancock Gas Unit #2, was drilled and logged as productive in the same four sands as the Hancock Gas Unit # 1 well and two deeper zones were also logged as productive. During 2006, the deeper of the two zones has been fracture stimulated and produced about 5.0 million cubic feet equivalent of natural gas per day. This zone has now been shut-in to test the other productive zone in the well bore.
During the second quarter of 2006, the second zone of the Hancock Gas Unit #2 has been perforated, fracture stimulated, and tested at commercial rates. Two other zones have now been fracture stimulated and tested. Once testing is competed, a temporary bridge plug will be removed and the various horizons commingled for long-term production. Stabilized production rates should be established during the fourth quarter of 2006.
Branville Bay Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, this non-operated property has been returned to pre-hurricane production rates of about 2.9 million gross cubic feet equivalent of natural gas per day. GEM has a non-operated working interest of 12.5% in this area.
Point-a-la-Hache Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, repairs to the production barge at this field were completed, however the current producing zone subsequently watered out. GEM is scheduled to perform a tubing recompletion on this current zone once the workover unit barge is received at the location. GEM estimates this work to be completed by the end of July 2006. GEM maintains a 25% operated working interest in the area.
Lapeyrouse Field, Terrebonne Parish - Louisiana
GEM holds an average non-operated working interest of 8.2% in eight wells in this field. During the six months ended June 30, 2006, GEM has participated in two workovers in the field. Current gross field production is about 23.5 million cubic feet equivalent of natural gas per day. Also in 2006, GEM participated in the drilling of their ninth well in this field, and this well has been recompleted to the next productive sand and is producing about 3 million cubic feet equivalent of gross natural gas per day. GEM holds an approximately 39% operated working interest in this ninth well.
Coalbed Methane Prospects - Indiana and Ohio
Indiana Prospect
In 2005, after the submission of a Phase I core evaluation report by the technical consultant, GEM elected to proceed and fund pilot well drilling under Phase II of the agreement. GEM is experiencing limited availability of needed equipment in order to move forward with the pilot program. However, GEM still expects the drilling of the pilot wells to occur during the third quarter of 2006.
Ohio Cumberland Prospect
Core samples from the Ohio CBM prospect are being analyzed for gas content, gas composition and characteristics of the coal. Depending on final results and availability of equipment, GEM may elect to schedule drilling of pilot wells on its Ohio CBM prospect area during 2006.
Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries and investments. Additional information may be found at the Harken Energy Web site, www.harkenenergy.com. Please email all investor inquiries to HECinquiries@ctapr.com.
Certain statements in this announcement regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production such as "may," "potentially," "expects," and similar terms may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, further testing and analysis, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Harken to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Quarterly Report on Form 10-Q, for the three months ended March 31, 2006. Harken undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
Harken Energy Provides Domestic Operations Update
Monday July 17, 10:40 am ET
DALLAS, TX--(MARKET WIRE)--Jul 17, 2006 -- Harken Energy Corporation's (AMEX:HEC - News) wholly owned subsidiary, Gulf Energy Management Company ("GEM"), released updated production figures and well completion status for its domestic oil and gas operations located onshore and offshore the Texas and Louisiana Gulf Coast, and its Coalbed Methane Prospects (CBM) located in Indiana and Ohio.
As of July 17, 2006, GEM's net domestic production rate was at approximately 7.95 million cubic feet equivalent of natural gas per day. "We are pleased to have surpassed the production levels achieved prior to the effects of the 2005 hurricane season. We are also excited about our anticipated 2006 opportunities for the remainder of the year," said GEM President Jim Denny.
Lake Raccourci Field, Lafourche Parish - Louisiana
GEM holds a 40% operated working interest in each of its Lake Raccourci wells. Gross production for this field is approximately 2.8 million cubic feet equivalent of natural gas per day. The State Lease 14589 #2 well is currently shut-in, but GEM has performed a successful workover to repair the State Lease 14589 #2 well. Perforation of the well to re-establish production is scheduled to be completed by the end of July 2006. Estimated gross production from the State Lease 14589 #2 well is expected to be about 4.0 million cubic feet equivalent of natural gas per day. This well could potentially increase gross production for this field to 6.8 million cubic feet equivalent of natural gas per day up from approximately 2.8 million cubic feet equivalent. GEM is presently seeking industry partners to drill a field extension well.
Point-au-Fer Field, Terrebonne Parish - Louisiana
GEM owns a 12.5% non-operated working interest in this approximate 56 square miles area. GEM participated in the drilling of two wells in this field during the six months ended June 30, 2006. The first well is now producing at about 2.75 million gross cubic feet equivalent of natural gas per day. The second well has been logged and cased. A completion rig is anticipated in the fourth quarter of 2006.
During the same period, one workover and recompletion of an existing well was successfully executed, and the well is producing at approximately 1.1 million gross cubic feet equivalent of natural gas per day. A second workover on an additional existing well is planned for the third quarter of 2006. Several prospects have been identified in the area, and GEM expects to have additional drilling and workover activity in this area during 2006.
Allen Ranch Field, Colorado County - Texas
GEM owns an 11.25% non-operated working interest in this area. The initial well, the Hancock Gas Unit # 1, was productive in four sands and has increased its production from 2.5 million to approximately 5.0 million gross cubic feet equivalent of natural gas per day. A second well, the Hancock Gas Unit #2, was drilled and logged as productive in the same four sands as the Hancock Gas Unit # 1 well and two deeper zones were also logged as productive. During 2006, the deeper of the two zones has been fracture stimulated and produced about 5.0 million cubic feet equivalent of natural gas per day. This zone has now been shut-in to test the other productive zone in the well bore.
During the second quarter of 2006, the second zone of the Hancock Gas Unit #2 has been perforated, fracture stimulated, and tested at commercial rates. Two other zones have now been fracture stimulated and tested. Once testing is competed, a temporary bridge plug will be removed and the various horizons commingled for long-term production. Stabilized production rates should be established during the fourth quarter of 2006.
Branville Bay Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, this non-operated property has been returned to pre-hurricane production rates of about 2.9 million gross cubic feet equivalent of natural gas per day. GEM has a non-operated working interest of 12.5% in this area.
Point-a-la-Hache Field, Plaquemines Parish - Louisiana
During the second quarter of 2006, repairs to the production barge at this field were completed, however the current producing zone subsequently watered out. GEM is scheduled to perform a tubing recompletion on this current zone once the workover unit barge is received at the location. GEM estimates this work to be completed by the end of July 2006. GEM maintains a 25% operated working interest in the area.
Lapeyrouse Field, Terrebonne Parish - Louisiana
GEM holds an average non-operated working interest of 8.2% in eight wells in this field. During the six months ended June 30, 2006, GEM has participated in two workovers in the field. Current gross field production is about 23.5 million cubic feet equivalent of natural gas per day. Also in 2006, GEM participated in the drilling of their ninth well in this field, and this well has been recompleted to the next productive sand and is producing about 3 million cubic feet equivalent of gross natural gas per day. GEM holds an approximately 39% operated working interest in this ninth well.
Coalbed Methane Prospects - Indiana and Ohio
Indiana Prospect
In 2005, after the submission of a Phase I core evaluation report by the technical consultant, GEM elected to proceed and fund pilot well drilling under Phase II of the agreement. GEM is experiencing limited availability of needed equipment in order to move forward with the pilot program. However, GEM still expects the drilling of the pilot wells to occur during the third quarter of 2006.
Ohio Cumberland Prospect
Core samples from the Ohio CBM prospect are being analyzed for gas content, gas composition and characteristics of the coal. Depending on final results and availability of equipment, GEM may elect to schedule drilling of pilot wells on its Ohio CBM prospect area during 2006.
Harken Energy Corporation is engaged in oil and gas exploration, development and production operations both domestically and internationally through its various subsidiaries and investments. Additional information may be found at the Harken Energy Web site, www.harkenenergy.com. Please email all investor inquiries to HECinquiries@ctapr.com.
Certain statements in this announcement regarding future expectations, objectives, intentions and plans for oil and gas exploration, development and production such as "may," "potentially," "expects," and similar terms may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, further testing and analysis, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Harken to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Quarterly Report on Form 10-Q, for the three months ended March 31, 2006. Harken undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
DESC on CNBC screen today? Oh it was so glorious, to be listed first among just 4 wind plays right on CNBC!
I'm thinking some people listened closer this time, with coinciding news surrounding the huge wind farm launching in Texas. CNBC will have a follow-on feature on wind tomorrow.
My bet is that DESC will have a follow-on performance in its stock price also tomorrow, with heavier volume than today. 5.50 easy.
Now gimme that bullish engulfing today, and head and shoulder bottom reveral confirmation tomorrow.
She needs a trend shift, and the institutions will become interested again. Good timing for Schwallie to bring in a top notch CFO too.
2 good quarters ahead!
DESC on CNBC screen today? Oh it was so glorious, to be listed first among just 4 wind plays right on CNBC!
I'm thinking some people listened closer this time, with coinciding news surrounding the huge wind farm launching in Texas. CNBC will have a follow-on feature on wind tomorrow.
My bet is that DESC will have a follow-on performance in its stock price also tomorrow, with heavier volume than today. 5.50 easy.
Now gimme that bullish engulfing today, and head and shoulder bottom reveral confirmation tomorrow.
She needs a trend shift, and the institutions will become interested again. Good timing for Schwallie to bring in a top notch CFO too.
2 good quarters ahead!
HYGS getting whacked today on no news
HYGS getting whacked today on no news
Are we at .0005 yet? Ah well....
Are we at .05 yet? Ah well, have to wait another month.
Q2 will show a profit of 12mil+ thanks to restoration of production and accounting for GED swinging into HEC's favor due to accounting treatment.
Amen!!!
PLUG wins the prize. Worst stock plugged by QT.
http://www.investorshub.com/boards/read_msg.asp?message_id=11932074
Natural Gas has receded out of popular market consciousness.
Gas has suffered a Major correction: depth and duration.
6 months. 108 days down 63%. Gas bulls have become rare.
Sentiment is far too negative.
Fear apathy and despair have grown universal in gas. When blood in the streets prevailing prices are combined with strong technical and fundamental cases why gas is due to rally, it creates an opportunity.
In each of the last few years Gas has spiked in late summer, or early Autumn.
Supply scares driven by last years hurricanes caused a 200 dma surge that creates problems for relativity analysis. Gas has started to show some resilience not too far under where its original pre-parabola 200 dma would have trended if euphoria hadn’t set in.
Gas first hit its 200 dma on the way down, but ultimately hit $6.
Natural Gas at $6.10 these prices are oversold and do not reflect the current gas fundamentals. Dept of Energy’s Energy Information Administration (EIA) expecting average gas prices of $7.74 in 2006. So far average is $7.13. So for rest of year prices need to rise to $8.35 or higher for the rest of the year…45% above recent lows.
EIA is officially predicting that Gas prices will rise above $10 by December, January. Interesting $10 is conservative Technically as well…will be within gas’s secular up trend channel.
January was very warm in the US…caused gas to be weak in 2006. Levels of gas in storage now are higher that average…27% higher than last year and 46% over their 5 year average.
EIA factors this into their projections and also a moderate summer rather than a warmer one.
Even if the Gulf does not get threatened by a Hurricane this year, I think Gas looks good right now.
Natural Gas:
Has receded out of popular market consciousness.
Gas has suffered a Major correction: depth and duration.
6 months. 108 days down 63%. Gas bulls have become rare.
Sentiment is far too negative.
Fear apathy and despair have grown universal in gas. When blood in the streets prevailing prices are combined with strong technical and fundamental cases why gas is due to rally, it creates an opportunity.
In each of the last few years Gas has spiked in late summer, or early Autumn.
Supply scares driven by last years hurricanes caused a 200 dma surge that creates problems for relativity analysis. Gas has started to show some resilience not too far under where its original pre-parabola 200 dma would have trended if euphoria hadn’t set in.
Gas first hit its 200 dma on the way down, but ultimately hit $6.
Natural Gas at $6.10 these prices are oversold and do not reflect the current gas fundamentals. Dept of Energy’s Energy Information Administration (EIA) expecting average gas prices of $7.74 in 2006. So far average is $7.13. So for rest of year prices need to rise to $8.35 or higher for the rest of the year…45% above recent lows.
EIA is officially predicting that Gas prices will rise above $10 by December, January. Interesting $10 is conservative Technically as well…will be within gas’s secular up trend channel.
January was very warm in the US…caused gas to be weak in 2006. Levels of gas in storage now are higher that average…27% higher than last year and 46% over their 5 year average.
EIA factors this into their projections and also a moderate summer rather than a warmer one.
Even if the Gulf does not get threatened by a Hurricane this year, I think Gas looks good right now.
Natural Gas:
Has receded out of popular market consciousness.
Gas has suffered a Major correction: depth and duration.
6 months. 108 days down 63%. Gas bulls have become rare.
Sentiment is far too negative.
Fear apathy and despair have grown universal in gas. When blood in the streets prevailing prices are combined with strong technical and fundamental cases why gas is due to rally, it creates an opportunity.
In each of the last few years Gas has spiked in late summer, or early Autumn.
Supply scares driven by last years hurricanes caused a 200 dma surge that creates problems for relativity analysis. Gas has started to show some resilience not too far under where its original pre-parabola 200 dma would have trended if euphoria hadn’t set in.
Gas first hit its 200 dma on the way down, but ultimately hit $6.
Natural Gas at $6.10 these prices are oversold and do not reflect the current gas fundamentals. Dept of Energy’s Energy Information Administration (EIA) expecting average gas prices of $7.74 in 2006. So far average is $7.13. So for rest of year prices need to rise to $8.35 or higher for the rest of the year…45% above recent lows.
EIA is officially predicting that Gas prices will rise above $10 by December, January. Interesting $10 is conservative Technically as well…will be within gas’s secular up trend channel.
January was very warm in the US…caused gas to be weak in 2006. Levels of gas in storage now are higher that average…27% higher than last year and 46% over their 5 year average.
EIA factors this into their projections and also a moderate summer rather than a warmer one.
Even if the Gulf does not get threatened by a Hurricane this year, I think Gas looks good right now.
IF HURRICANES start flying through the western Gulf. OR IF TRADERS JUST FEAR THE IDEA OF HURRICANES, then gas prices will go up a lot higher again.
Probabilities very low that a hurricane will do a similar level of infrastructure damage. Hurricane effect could be more psychological than physical.
He suspects that every time a ‘major’ hurricane forms, people will buy oil, gas, and ENERGY STOCKS with reckless abandon. PARANOIA will likely have a bigger effect.
IF HURRICANES start flying through the western Gulf. OR IF TRADERS JUST FEAR THE IDEA OF HURRICANES, then gas prices will go up a lot higher again.
Probabilities very low that a hurricane will do a similar level of infrastructure damage. Hurricane effect could be more psychological than physical.
He suspects that every time a ‘major’ hurricane forms, people will buy oil, gas, and ENERGY STOCKS with reckless abandon. PARANOIA will likely have a bigger effect.
Fidelity down all afternoon, WOULD NOT LET ME BUY ANYTHING. I could sell, but not BUY. I am furious and on hold waiting for a manager.
What happened in 01 and 02 to bring it crashing down from $16?
Hard to believe TGC is 64% above its 200dma of .66
He had an opp that he could not pass up. No big deal imo.
I hope it goes down so I can buy more. Aug 1 pop expected.
Super Typhoon overnight near Japan
While the tropical Atlantic and eastern Pacific Basins remain relatively quiet today, Typhoon Ewiniar in the western Pacific is moving northwestward well to the east of the northern Philippines. Ewiniar, with maximum sustained winds of 130 mph, briefly became a Super Typhoon overnight (U. S. time). The powerful storm will turn to a more northerly track within the next 12 hours or so and likely threaten Okinawa by early Saturday (U. S. time). Ewiniar should be weakening by then, however, and probably will diminish in intensity even further--to a minimal typhoon--as it approaches southern Japan over the weekend.
Super Typhoon overnight
While the tropical Atlantic and eastern Pacific Basins remain relatively quiet today, Typhoon Ewiniar in the western Pacific is moving northwestward well to the east of the northern Philippines. Ewiniar, with maximum sustained winds of 130 mph, briefly became a Super Typhoon overnight (U. S. time). The powerful storm will turn to a more northerly track within the next 12 hours or so and likely threaten Okinawa by early Saturday (U. S. time). Ewiniar should be weakening by then, however, and probably will diminish in intensity even further--to a minimal typhoon--as it approaches southern Japan over the weekend.
Super Typhoon overnight
While the tropical Atlantic and eastern Pacific Basins remain relatively quiet today, Typhoon Ewiniar in the western Pacific is moving northwestward well to the east of the northern Philippines. Ewiniar, with maximum sustained winds of 130 mph, briefly became a Super Typhoon overnight (U. S. time). The powerful storm will turn to a more northerly track within the next 12 hours or so and likely threaten Okinawa by early Saturday (U. S. time). Ewiniar should be weakening by then, however, and probably will diminish in intensity even further--to a minimal typhoon--as it approaches southern Japan over the weekend.
Super Typhoon overnight
While the tropical Atlantic and eastern Pacific Basins remain relatively quiet today, Typhoon Ewiniar in the western Pacific is moving northwestward well to the east of the northern Philippines. Ewiniar, with maximum sustained winds of 130 mph, briefly became a Super Typhoon overnight (U. S. time). The powerful storm will turn to a more northerly track within the next 12 hours or so and likely threaten Okinawa by early Saturday (U. S. time). Ewiniar should be weakening by then, however, and probably will diminish in intensity even further--to a minimal typhoon--as it approaches southern Japan over the weekend.
KEY METAL MARKETS NEED TO CONTINUE CORRECTING.
June 9th Richard Russell, well respected newsletter writer wrote “Matter of moths before Gold can establish a real bottom.
Major corrections function is to wipe out exuberant sentiment : 2 dimensions depth and duration.
Current corrections in gold and silver deep and painful, but they remain young. Only 18 weeks in duration, average corrections lasts 88 days.
Since last up legs were so enormous we need to expect a major correction to restore balance.
Next HUI interim bottom will probably not be the 200 dma since this was dragged higher in a surge. (usually hits at 80% of 200 dma).
KEY METAL MARKETS NEED TO CONTINUE CORRECTING.
June 9th Richard Russell, well respected newsletter writer wrote “Matter of moths before Gold can establish a real bottom.
Major corrections function is to wipe out exuberant sentiment : 2 dimensions depth and duration.
Current corrections in gold and silver deep and painful, but they remain young. Only 18 weeks in duration, average corrections lasts 88 days.
Since last up legs were so enormous we need to expect a major correction to restore balance.
Next HUI interim bottom will probably not be the 200 dma since this was dragged higher in a surge. (usually hits at 80% of 200 dma).
Price rate of change (PROC) confirms HEC turning point on 6/14/06 with an attempt to cross centerline on 6/23/06, small pullback from centerline 6/26 and 6/27 HEC now in position to make another attempt to cross through centerline, if PROC moves through the centerline very bullish.
MACD 10,21 close to centerline crossover - bullish
MACD 21, 50 – bullish
MACD 35, 50 - bullish
Time segmented volume (TSV) close to centerline crossover – bullish.
On balance volume (OBV) diverging – bullish.
NGEN...Lots of major last minute volume on lots of small price companies...amazing. Looks like some major price swings of 10-20% too within only a few minutes. Plus some major after-hours buying. Talking over 10X volume with no news for nearly all of these companies.
check out MKTY, CNXT, WSTL, HILL, ENTU, QTWW, STSI, LVLT... to name a few.
Perhaps several mutual funds did some last minute shopping for the end-of-the-month rebalancing.
HYGS had some milder wild last minute action on wed and thur.
The dead cat bounce was obvious, especially for MKTY.
But something is definitely cooking now. Perhaps things will be much slower monday. But wednesday and afterward, hmmm. The major volume could precede some real lightening rounds as these stocks come off of some recent major lows.
I am long DESC. Good news piling up yet to be announced and I have heard this is a Natural Gas Play. According to my July 1 Zeal Inttelligence News Letter, Nat Gas is the place to be NOW. It is well below its 200 dma and has a lot of upward correcting to do. Next 2 quarters (3rd & 4th) will be the best yet for earnings.
HEC will jump from .65 to .75 soon imho.
Jump from .65 to .75 soon imho. They may delay the well news until 7/6 and then we will see a pop up...and a pop down...until 8/31..that is when we will start another run to $1 imho.
No I don't think so. .0009 and lower.
Buy at .05 Maybe.
We'll see summer is usually a weak period for metals. My new Zeal issue due out next week will bring insight.