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OT: manosdepiedra, re closed refineries, I filled up today and didn't have to wait in line, so either other refineries are running at 110% or stocks are high enough to last through refinery shutdowns. We keep forgetting about India and China demands, the middle class in India is now equal to the total population of the USA and China is the same or close to it.
Or, they are just using it as an excuse to jack prices up! LOL!
"ON THE MARKET is receiving a total of sixty thousand dollars from third parties as compensation for the distribution of this commentary and other advertisements. Since we are receiving compensation in the advertised company there is an inherent conflict of interest in our statements and opinions and such statements and opinions cannot be considered independent."
What a joke company, I bet it will be 10 years before any of their products hit the market, if at all. I wonder if Amex will encourage paid pumping if BIPH ever gets on that exchange. "Third parties"? Can't they wait to dump or is years too long to wait for a product to be sold?
Crude Futures Edge Up Above $61 a Barrel
(Wilderhill Clean Energy Index chart at end of post)
Thursday August 4, 6:12 am ET
By Edith Balazs, Associated Press Writer
Crude Futures Edge Up Above $61 a Barrel; Traders Wary Over Supply Problems and Closed Refineries
BUDAPEST, Hungary (AP) -- Oil prices edged up Thursday, despite positive U.S. inventory data, as traders remained wary over possible supply woes because of refinery shutdowns and forecasters predicted a busy hurricane season that could hurt Gulf of Mexico output.
Light, sweet crude for September delivery rose 17 cents to US$61.03 a barrel on the New York Mercantile Exchange.
"Years of underinvestment in the refinery sector have led to a very tightly supplied market, which in return pushed prices to current levels," said Alex Scott, a senior research analyst at Seven Investment Management in London.
"Direct market participants seem to believe that prices are to stay at current levels for years to come and the fact that there's very little evidence to show a slowdown in global demand is broadly supportive of their bullish argument," Scott said.
Prices had soared to a record intraday high of US$62.50 Wednesday before retreating to settle at US$60.86 after the U.S. Department of Energy released its better-than-expected petroleum report, showing an increase in oil inventories for the first time in a month.
The data showed domestic inventories of crude oil and diesel grew, but gasoline stocks fell sharply.
It said there was an increase of 200,000 barrels in the U.S. inventory of crude oil last week, putting the supply at 318 million barrels, or 8 percent above year-ago levels.
Gasoline inventories declined by 4 million barrels to 205.2 million barrels, or 3 percent below last year's level. The supply of distillate fuel, which includes heating oil and diesel, rose by 1.5 million barrels to 127.3 million barrels or 5 percent above last year.
Gasoline rose 1 cent to US$1.7800 a gallon (3.8 liters), while heating oil rose marginally to US$1.6900 a gallon.
Brent for September delivery on London's International Petroleum Exchange was up 13 cents at US$59.78 per barrel.
Production suspensions at several key U.S. plants was the catalyst for a price spike last week as analysts said the snags could hurt oil products supply and fail to meet demand in an extremely tight market. At least four plants, including the third-largest refinery in the country, were shut down from late last week either from fires or unscheduled maintenance.
Aging refineries in the United States are running at nearly 100 percent utilization, and this increases the likelihood of operational problems as companies begin to slow down production of gasoline for summer and turn to heating oil for winter.
"Gasoline markets have been hit with a rash of unplanned refinery outages in the last couple of weeks," said Energyintel analyst Tom Wallin. "Even with U.S. retail pump prices at record highs, the economy continues to surge ahead and with it gasoline consumption. The extreme price strength clearly seems to be demand-led."
Oil markets have been roiled in recent days over the death of King Fahd in Saudi Arabia, weather patterns that could hurt Gulf of Mexico output down the line and Iran's nuclear ambitions, which could raise tension between OPEC's No. 2 producer and the West.
The U.S. Weather Service has predicted 11 to 14 more tropical storms, including seven to nine more hurricanes, by the end of November.
Associated Press Writer En-Lai Yeoh in Singapore contributed to this report.
Crude Futures Edge Up Above $61 a Barrel
Thursday August 4, 6:12 am ET
By Edith Balazs, Associated Press Writer
Crude Futures Edge Up Above $61 a Barrel; Traders Wary Over Supply Problems and Closed Refineries
BUDAPEST, Hungary (AP) -- Oil prices edged up Thursday, despite positive U.S. inventory data, as traders remained wary over possible supply woes because of refinery shutdowns and forecasters predicted a busy hurricane season that could hurt Gulf of Mexico output.
Light, sweet crude for September delivery rose 17 cents to US$61.03 a barrel on the New York Mercantile Exchange.
"Years of underinvestment in the refinery sector have led to a very tightly supplied market, which in return pushed prices to current levels," said Alex Scott, a senior research analyst at Seven Investment Management in London.
"Direct market participants seem to believe that prices are to stay at current levels for years to come and the fact that there's very little evidence to show a slowdown in global demand is broadly supportive of their bullish argument," Scott said.
Prices had soared to a record intraday high of US$62.50 Wednesday before retreating to settle at US$60.86 after the U.S. Department of Energy released its better-than-expected petroleum report, showing an increase in oil inventories for the first time in a month.
The data showed domestic inventories of crude oil and diesel grew, but gasoline stocks fell sharply.
It said there was an increase of 200,000 barrels in the U.S. inventory of crude oil last week, putting the supply at 318 million barrels, or 8 percent above year-ago levels.
Gasoline inventories declined by 4 million barrels to 205.2 million barrels, or 3 percent below last year's level. The supply of distillate fuel, which includes heating oil and diesel, rose by 1.5 million barrels to 127.3 million barrels or 5 percent above last year.
Gasoline rose 1 cent to US$1.7800 a gallon (3.8 liters), while heating oil rose marginally to US$1.6900 a gallon.
Brent for September delivery on London's International Petroleum Exchange was up 13 cents at US$59.78 per barrel.
Production suspensions at several key U.S. plants was the catalyst for a price spike last week as analysts said the snags could hurt oil products supply and fail to meet demand in an extremely tight market. At least four plants, including the third-largest refinery in the country, were shut down from late last week either from fires or unscheduled maintenance.
Aging refineries in the United States are running at nearly 100 percent utilization, and this increases the likelihood of operational problems as companies begin to slow down production of gasoline for summer and turn to heating oil for winter.
"Gasoline markets have been hit with a rash of unplanned refinery outages in the last couple of weeks," said Energyintel analyst Tom Wallin. "Even with U.S. retail pump prices at record highs, the economy continues to surge ahead and with it gasoline consumption. The extreme price strength clearly seems to be demand-led."
Oil markets have been roiled in recent days over the death of King Fahd in Saudi Arabia, weather patterns that could hurt Gulf of Mexico output down the line and Iran's nuclear ambitions, which could raise tension between OPEC's No. 2 producer and the West.
The U.S. Weather Service has predicted 11 to 14 more tropical storms, including seven to nine more hurricanes, by the end of November.
Associated Press Writer En-Lai Yeoh in Singapore contributed to this report.
TRCPA, I kinda thought Oak Ridge would get a comment from ya! LOL!
From Wind Energy Weekly, Vol. 15, #684, (check the date)
12 February 1996
NEW OIL PRICE SHOCK SEEN LOOMING AS EARLY AS 2000
If present economic and oil industry trends continue, future price shocks appear likely as early as the year 2000, with the world facing permanent increases in the price of oil, two new studies have concluded.
The first study, The World Oil Supply 1990-2030, which was completed in late 1995 by the prestigious Geneva, Switzerland- based group Petroconsultants, deals with the realities of the statistics, pointing out that the world is finding only about seven billion barrels of oil each year in a falling trend, while producing 23 billion barrels a year in answer to rising demand. The study describes this situation as a recipe for bankruptcy.
The second report, prepared by Oak Ridge National Laboratory for the Office of Transportation Technology of the U.S. Department of Energy and made public in mid-January, suggests that the OPEC (Organization of Petroleum Exporting Countries) nations, in control of two-thirds of the world's reserves, will soon have the ability to regain monopoly power in world oil markets.
"Price shocks can be very profitable to oil producers, and consuming nations appear to have developed no adequate defense against them," the report warns.
A summary of the studies' findings was released January 30 by Fuels for the Future, a Washington, DC-based public relations organization.
Another warning signal came February 5, as Japan's Ministry of International Trade and Industry (MITI) reported that the level of Japan's crude oil imports from the Middle East reached a new high in 1995 of 78.6 percent of the country's oil imports. Japan imported slightly more than 1.3 billion barrels of oil during the year from the Middle East. Imports from Indonesia and China shrank, partly because of increased consumption within China itself, the Ministry said.
The Petroconsultants study concludes that while the world may not be running out of oil, it is running out of cheap oil. And nothing, it states, contributes more to the high cost of living than high energy prices.
The study emphasizes that a country's or region's peak oil production comes at the midpoint of depletion, when half of its oil has been produced. Then oil production declines to zero at its depletion rate. North American production peaked in 1974, and the world will hit its midpoint around 2000, the consultancy estimates. Although detailed numbers from the Petroconsultants study were not made public, the group previously predicted in 1994 that production would peak in the year 1999 at 65.6 million barrels a day, and decline to 52.6 million barrels a day by 2010. By 2050, the 1994 report said, world oil production would drop to 17.5 million barrels a day, or slightly more than it was in the 1950s.
Interestingly, the Petroconsultants analysis appears to track fairly closely the projections made in the 1950s and 1960s by Dr. M. King Hubbert, the petroleum geologist who first predicted the eventual exhaustion of U.S. and world oil supplies. Hubbert forecast that U.S. production would begin to decline in about 1970 and that world production would crest in 1995. U.S. crude oil output did in fact peak in 1970 at slightly over nine million barrels a day and has declined substantially since.
Dr. Colin Campbell, another oil analyst and author of The Golden Century of Oil, 1950-2050: The Depletion of a Resource, pegs cumulative world oil production through 1993 at 718 billion barrels, with remaining reserves at 932 billion barrels. At the world's current production rate of 23 billion barrels a year, the midpoint between past output and remaining reserves (about 826 billion barrels) should be crossed sometime before the end of the century.
The problem of gradually tightening world oil supplies is exacerbated by a growing concentration of remaining reserves in the Persian Gulf. All other producing countries but the five Persian Gulf states (Saudi Arabia, Iran, Iraq, Kuwait, and the United Arab Emirates) will peak before 2000. The Oak Ridge report points out that by the turn of the century only OPEC will have the capability of developing and producing energy in the quantity required. The report says the problem is not one of the United States running out of oil, but that a handful of nations, which today control about two-thirds of the world's reserves, will have the monopolistic power of a cartel as early as the turn of the century.
During the 1970s the OPEC cartel was able to raise prices dramatically, extracting billions of dollars from consuming nations. But higher prices spurred drilling activity worldwide, and newer technologies reduced consumption to the point that the world had excess capacity for more than a decade. Now supply and demand are nearly in balance and the advantage is swinging to the oil producers. With world demand increasing and the reserves of most producers gradually diminishing, the OPEC cartel with its many resources appears ready to control the market for oil during the early days of the new century, the Oak Ridge analysts said.
The Oak Ridge report, in emphasizing the problem, points out that while farm commodities can increase production within a year, it takes 10 to 20 years to develop and produce oil, lending far greater power to an oil cartel's monopoly in the short run.
The Petroconsultants study suggests that few new petroleum sources will be found in the future, and that therefore, most oil production will have to come from existing fields. Established oil well reserves are currently at about one trillion barrels, but the report does not make the error of dividing this figure by current production to suggest wrongly an extended period of supply-demand balance. The scene, the researchers conclude, is set for another major oil price shock. With a chronic shortfall in supply, the world faces a permanent increase in the price of oil.
The data supplied by Petroconsultants lend support to the conclusions reached in the Oak Ridge report that deal largely with economic consequences to the United States and its standard of living in having to deal with a cartel and its pricing power.
One of the factors that has brought about the increased demand for oil -- estimated to increase by more than two million barrels per day over the next seven years to more than 80 million barrels per day -- is transportation. The growing demand for automobiles in China, India, South Korea and other Asian nations pinpoints the fact that oil production provides 97 percent of the fuel used in transportation. The 600 million motor vehicles worldwide will eventually consume as much as 60 percent of the world's oil.
Simply put, demand for oil is outpacing the world's ability to produce it. Nations unprepared to handle the shortfall will be paying a significantly higher price for oil.
Although wind energy is used predominantly to produce electric power, and competes primarily against gas, coal and nuclear power, its future prospects will also be affected by tighter world oil supplies and rising prices. If compressed natural gas (CNG) becomes the substitute of choice for gasoline as a transportation fuel, then gas producers, too, are likely to find themselves facing supply problems. And to the degree that public attention is focused on energy issues, a pollution-free alternative that now costs only slightly more than conventional sources can only gain.
--------------------------------------------------------------------------------
Wind Energy Weekly
Sam, I think Opec controls the oil price now, not the oil companies. I also think we don't fully understand the impact of the growth in China and India and the effect on natural resources, they were always "backward" to us rather than competitors. It's a very different world out there than 50 years ago. I hope they start teaching Chinese in high school.
TRCPA, I figured you would have all that info on the tip of your tongue. I'll check the next filings.
Starshine, true, but that one is certainly more detailed and specific than most. I think they are just going to be a reseller of a product that hasn't even reached production yet.
Or do they actually own the product and patents?
Oops! Sorry, missed it!
How many tons of clay have been KDS processed, sold, and shipped? More tons than Zeolite?
I think because BIPH hasn't sold a damn thing yet and MW thinks he's a mega cap company CEO collecting a bunch of patents that the holders couldn't get the big boys to buy. CNBC hasn't asked him to be a guest, so he uses pay TV and radio. I bet he has buggy whip patents in his safety deposit box! Stay tuned for more fluffies, LOL!
Malaysia's Trade Surplus Soars in June
Wednesday August 3, 2:28 am ET
Malaysia's Trade Surplus Soars Nearly 50 Percent On-Year in June
KUALA LUMPUR, Malaysia (AP) -- Malaysia's trade surplus surged nearly 50 percent in June compared to the same month last year, buoyed by electronic exports, the government said Wednesday.
Total exports in June rose 11.7 percent on-year to 44.52 billion ringgit (US$11.9 billion; euro9.9 billion), the Ministry of International Trade and Industry said in a statement.
Imports, meanwhile, grew at a slower pace of 6 percent from June 2004 to 36.78 billion ringgit (US$9.8 billion; euro8.2 billion).
As a result, Malaysia's trade surplus ballooned to 7.74 billion ringgit (US$2.1 billion; euro1.7 billion), up 49.6 percent on-year and marking the country's 92nd consecutive monthly surplus, the ministry said.
The strong showing was attributed partly to robust shipments of electrical and electronic product exports, which increased 11.6 percent on-year in June to 22.85 billion ringgit (US$6.0 billion; euro4.9 billion).
Intel Corp., Motorola Inc. and Dell Inc. are among major companies with factories in Malaysia. Trade to the United States, Malaysia's No. 1 trading partner, rose 22 percent on-year in June, also partly due to stronger electrical and electronics exports, the trade ministry said.
Could never access the PR on Yahoo, wonder why?
http://biz.yahoo.com/bwml/050802/20050802005521.html?.v=1
News out, but disclaimer at the end says much of the "meat" in the PR may not happen, IMO. See if the market is interested today. GLTA!
id-Confirm, Inc. Introduces New Portable Biometric Memory Device
Wednesday August 3, 6:30 am ET
DENVER--(BUSINESS WIRE)--Aug. 3, 2005--id-Confirm, Inc. (OTCBB:IDCO - News) today reported it is beginning to move forward from its position as an R&D company and in doing so is proud to announce its one gigabyte (1G) memory device (MD). Our USB flash drive works with any USB-enabled PC. Activated by the owner's unique fingerprint biometric, the IDCO MD creates a secure method of storing and transporting confidential computer files and making them only available to their owner on any computer. To use the device, the owner initializes it to recognize only the owner's biometric. The MD can recognize up to four unique fingerprints. Data information is then stored on the MD and it is removed from the home or office computer. About the size of an adult thumb, the MD is completely portable. To access data files on it, away from the home or office computer, the user merely inserts it into the USB port of any computer, opens it with his or her fingerprint, and then retrieves files in the traditional way.
Selling at retail for $169.95, the IDCO MD has many potential uses -- ranging from corporate America to school-goers. In fact, one private school has already placed an order for 100 MDs with the intent of issuing one to each of its students. With the IDCO MD, students can go from classroom to classroom, taking their work with them and accessing common computers rather than having to carry their own computer. When school is out, the student can merely carry his or her MD home, plug it into a computer, and do homework. The homework easily goes back to school with the student in the morning. Combining the latest in several technologies, the IDCO MD is being manufactured for IDCO in south-east Asia and will be available in volume later this month.
IDCO intends to add this product to its web store, which is currently being developed and will be opening in the near future. Meanwhile, illustrations of the IDCO MD can be accessed on the id-Confirm.com website (www.id-Confirm.com).
About id-Confirm, Inc.
Id-Confirm, Inc. is a Denver, Colorado organization developing and implementing a proprietary biometric solution to the pervasive problem of personal identity theft; fraud prevention; and accurate tracking of the movement of information, people, goods, and services through organizations and along procurement chains.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include our having begun market introduction of our one gigabyte memory device; that our device is activated by the owner's unique fingerprint biometric, which creates a secure method of storing and transporting confidential computer files and making them only available to their owner; that one private school has already placed an order for 100; that it is being manufactured for us in south-east Asia and will be available in volume later this month; and that this product will be added to our web store, which is currently being developed and will be opening in the near future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage technology company and its products and the entry into new markets for our products; that our product will work as planned; that any orders for our products will be completed and that we will have an acceptable level of returns; that we will be able to successfully arrange for manufacture of the products at a reasonable cost while still ensuring quality control and proprietary information protection; that there will be a market developing for our product; that we can successfully develop a web store; and that competition will not produce and market a better, cheaper product or make our device obsolete. These forward-looking statements are made as of the date of this news release, and id-Confirm assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
id-Confirm, Inc.
Ronald Nelson Baird, President
303-458-5727
beigledog, I'm also hoping for growth once they get their chit together. New wells and maybe new fields. Field depletion will also be a factor, new wells need to overcome old well depletion plus add more product. I was really disappointed with the pps move on the news today and it may be near year end for really substantial news. I feel like I jumped in this too soon, down over half right now and not comfortable with throwing more money in the pot at this point.
Huggums, Smith & Wesson uses the alloy in handguns! Must only need a small amount for the alloy.
http://firearms.smith-wesson.com/page/p2pl/AirLite_Sc.html
huggums, EGLF.OB shafts use scandium alloy? What's a set estimated to cost?
"Its overall concentration in the Earth's crust is roughly 5 parts per million. That means 500 tons of material would have to be processed to obtain 5 pounds of scandium. The market price of scandium today is in excess of $7,000 a pound."
Sam, and leave a captive audience? The exits are blocked! LOL!
Return of the fluffies, pps support attempt has returned!!!
Biophan Posts Presentation Outlining Progress in Growth of Company's Biophan Europe Division
Tuesday August 2, 3:30 am ET
Online Presentation Describes Technologies and Application Development for Advances in MRI Visualization of Medical Devices
ROCHESTER, N.Y.--(BUSINESS WIRE)--Aug. 2, 2005--Biophan Technologies, Inc. (OTCBB: BIPH - News), a developer of next-generation biomedical technology, has announced the online availability of an electronic presentation that provides a detailed overview of the Company's Biophan Europe division, including a review of their key research and product development initiatives. Biophan Europe, based in Germany, is developing breakthrough solutions that make lifesaving implantable medical devices, such as vascular stents, clearly imageable under Magnetic Resonance Imaging (MRI).
The presentation was part of an address given by Biophan Europe President and CEO, Dr. Michael Friebe, at Biophan's recent annual shareholders meeting in Rochester, New York. It also describes the extensive European network of world-class MRI research centers that help maintain Biophan Europe's cutting-edge position.
Earlier this year, Biophan acquired AMRIS GmbH, a company based in Castrop-Raxel, Germany, that was developing advanced solutions in MRI visualization that complemented Biophan's own technologies. Following the acquisition, AMRIS was renamed Biophan Europe. The establishment of Biophan Europe gave Biophan access to a large network of leading MRI partner research centers, including the University of Aachen. It also brought access to extremely valuable testing facilities at the AMRIS subsidiary, MR:comp GmbH (www.mrcomp.com), one of the few independent and most advanced MRI test laboratories in the world.
"Acquiring AMRIS as our Biophan Europe division has been one of our Company's most significant moves," said Biophan CEO, Michael Weiner. "We have been strengthened by the addition of the key AMRIS personnel to our ranks, as well as by the unique access to the European research community, where some of the most exciting research into MRI is being conducted. One of the many advanced areas where Biophan Europe is a leader is the emerging field of interventional MRI, which uses the safer imaging modality of MRI to conduct a new class of advanced, minimally invasive surgical procedures."
Mr. Weiner added: "As this online presentation describes, Biophan Europe is positioned to help us accelerate our development and introduction of new products into the marketplace."
In addition to Dr. Friebe, Biophan Europe's key scientific collaborators include Dr. Andreas Melzer, a recognized world authority on MRI visualization technology, and Gregor Schaefers, CEO of MR:comp.
MRI visualization technologies developed at Biophan Europe include "active" as well as "passive" solutions that enable MRI visualization of stents, catheters, filters, and other new applications.
Dr. Friebe's presentation, and others delivered at the meeting can be viewed online at http://www.biophan.com/presentations.php.
About Biophan Technologies
Biophan develops and markets cutting-edge technologies designed to make biomedical devices safe and image compatible with the magnetic resonance imaging (MRI) environment. The Company develops technologies that enable implanted medical systems such as pacemakers, interventional surgical devices such as catheters and guidewires, and devices such as stents to be safely and effectively imaged under MRI. Biophan is developing these same technologies to provide new MRI contrast agents. Other applications include drug delivery and power systems derived from body heat. Four Biophan technologies include advances in nanotechnology and thin film coatings. Committed to growth through innovation and developmental leadership, Biophan and its licensors now hold a total of 142 U.S. patents, licenses, or applications. This total includes 38 issued U.S. patents, 9 recently-allowed applications that will issue as patents in the near future, and 95 pending applications at various stages of examination at the U.S. Patent and Trademark Office, plus international applications. The patents cover areas including nanotechnology (nanomagnetic particle coatings), medical device designs, radio frequency filters, polymer composites, thermoelectric materials for batteries generating power from body heat, and photonics. Biophan has joint development and licensing agreements with Boston Scientific (NYSE: BSX - News) and NASA's Ames Center for Nanotechnology. Biophan's goal is to make all biomedical devices capable of safely and successfully working with MRI, and delivering other technologies which will improve quality of life. For more information, please visit www.biophan.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements within the meaning of applicable securities laws. These statements reflect what Biophan anticipates, expects, or believes may happen in the future. Biophan's actual results could differ materially from the outcome or circumstance expressed or implied by such forward-looking statements as a result of a variety of factors including, but not limited to: Biophan's ability to develop its technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the ability of Biophan to demonstrate the effectiveness of its technology; the acceptance by the market of Biophan's technology and products incorporating such technology, the ability of Biophan to effectively negotiate and enter into contracts with medical device manufacturers for the licensing of Biophan's technology; competition; the ability of Biophan to raise capital to fund its operating and research and development activities until it generates revenues sufficient to do so; and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
--------------------------------------------------------------------------------
Contact:
Biophan Technologies, Inc.
Carolyn Hotchkiss, 585-214-2407
or
Press Interviews:
Jennifer Gould, 212-843-8037
OT: WyoInvestor, I lost a few bucks speculating on Worldcom just before they went under and I never sold! LOL!
WyoInvestor, I'm a US citizen living in the US of A. But I have to agree, we all may be guilty of blaming others at times for our own mistakes. I can't blame anyone about FASC, I don't own any at this point and never lost money on it! LOL!
sam, take your pick, it's the American way to blame others! LOL!
Cal's also a genius at selling shares and keeping buyers around, IMO.
Maybe it's Clinton's fault?
TRCPA, good point, all about risk. I'd be very interested to see what FASC personnel hold in their personal brokerage accounts!
And Tandem has rigs! Demand for Drilling Rigs Shows No Letup
(I'm holding GW)
By Christopher Edmonds
RealMoney.com Contributor
8/1/2005 8:57 AM EDT
Click here for more stories by Christopher Edmonds
This column was originally published on RealMoney on July 29 at 2:00 p.m. EDT.
It was hard not to like what the contract land drillers had to say this week. Whether it was Nabors Industries (NBR:Amex - commentary - research), Patterson-UTI Energy (PTEN:Nasdaq - commentary - research), Helmerich & Payne (HP:NYSE - commentary - research), Unit (UNT:NYSE - commentary - research) or Grey Wolf (GW:Amex - commentary - research), the message was loud and clear: Demand for drilling rigs is near record highs and continues to get better.
Nearly every available land drilling rig is spoken for and companies with cold stacked, older rigs are scrambling to find w
ays to bring them to market quickly. With demand so strong and capacity at its limits, rig companies get pricing power.
The result was earnings that outpaced expectations and outlooks that should lead to a big boost in earnings estimates for the second half of 2005 and well into 2006. For example, Nabors reported earnings of 82 cents per share for the second quarter, 10 cents above the consensus estimate. The consensus for full-year 2005 was $3.38 per share and that will now likely move to around $3.70, a number the company said was achievable on Thursday's conference call. Yet if the drilling market continues to show the kind of growth it experienced in the first half of the year, it is not a stretch to think Nabors could earn nearly $4 this year and $5 in 2006.
Pricing Power
The reason for such strong earnings growth rests both with utilization and, even more, with rig companies' pricing power. Margins -- the profit per rig per day -- almost keep pace with revenue growth, meaning that every day-rate increase translates into a meaningful boost in the bottom line. While labor costs will rise as more crews are needed to man the rigs, margin growth should remain robust in the second half of the year, growing in the range of $500-$1,000 per day in both the third and fourth quarters.
Not only is the U.S. and North America rig market continuing to show signs of acceleration, there are renewed signs that international demand for land rigs is also growing. Whether it's the Saudis looking for more rigs to quell the production declines in their maturing oil fields or new development in countries like Libya, companies such as Nabors say there will be demand for an additional 60-plus land rigs in the coming 12 to 24 months. Combined with its dominant position in the U.S. and Canada, Nabors is also the leading domestic company in international markets.
Many of the land rig companies are worth a look, as it appears demand will grow relatively unabated in the coming six months. To compare the land rig companies, investors should look at margins, margin growth over time and the number of rigs that are subject to "term" contracts -- meaning they will work at the same price for an extended period of time, vs. the majority of rigs that work on well-to-well contracts, meaning they have the opportunity to raise prices more often as rigs move to new jobs.
In addition, check out the balance sheets as the need for more rigs also means the need for more capital to refurbish old rigs or build new ones. And finally, take a peek at management, as seasoned managers have a much better feel for pricing and operations in a supply-constrained market.
Building for the Future
With rig supply tightening, rig companies are not only talking about bringing older rigs back to market, but also building new rigs. Nabors is looking at new builds and significant refurbishments to meet additional demand of up to 100 rigs they see over the next 24 months. Other contract rig companies are likely to experience demand growth.
That means more capital spending -- Nabors says it will expand its 2005 capital budget to more than $1 billion -- and that should benefit National Oilwell Varco (NOV:NYSE - commentary - research).
The company is the combination of National Oilwell and Varco, which created a dominant player in rig construction and rig components. The merger -- completed earlier this year -- should provide additional operating synergies over time and the combined entity should remain the domestic and global leader in rig components and oilfield capital equipment.
While other companies -- such as Rowan's (RDC:NYSE - commentary - research) LeTourneau division and Dril-Quip (DRQ:NYSE - commentary - research) -- are likely beneficiaries of rig capital equipment orders, by far the largest beneficiary is National Oilwell Varco.
Worldwide, National Oilwell Varco commands over 50% of the global rig construction and capital equipment market. In the first quarter, National Oilwell Varco reported a sequential increase of 9% in overall backlog, to $852 million. That backlog number continued to grow into the second quarter and is likely to continue to show steady growth as additional new-build and component orders are booked in the second half of 2005.
The strength of the backlog is becoming clear: Last year, average lead time for delivery of a new-build land rig was about four months; today, it is six to eight months at a minimum. On its earnings conference call, Grey Wolf said it was experiencing up to a year lead time for certain rig components.
As demand for components to refurbish existing rigs and new builds continues, backlog should grow and lead times should extend. That provides better visibility for earnings and growth over time.
Current consensus earnings estimates of $1.95 per share for the year seem secure and estimates for 2006 of $2.56 may be low, based on the current backlog trend, especially if additional demand provides National Oilwell Varco with additional pricing power.
Growing demand for rigs is certainly good for the land drillers; it may be even better for National Oilwell Varco.
P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our free trial offer to TheStreet.com RealMoney premium Web site, where you'll get in-depth commentary and money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice -- try it now.
TRCPA, I think that's still true, just maybe doesn't apply to small public companies that try to get a business going on the backs of shareholders. The companies that establish a history of revs, customer base, etc., then IPO have a much better chance of success, IMO. Google is a good example among many.
"whereby the little guy has as good a chance to make it as anyone else....with a lot of hard work."
TRCPA, I agree with the DD, but the naked shorting issue to me is like a guy saying "Everytime I drive down 33rd street, the kids there throw rocks at my car and the police say they can't catch them!" My reply, "Use 32nd street!" If you truly believe it's a big issue, stay away from the exchange where's it's most prevalent. You don't hear MSFT saying anything about it.
Let's go, Tandem! Get the word out! "U.S. crude oil prices leapt to a session high of more than $61 a barrel early Monday on the death of King Fahd - the head of the world's top oil exporter, Saudi Arabia. Front-month September light sweet crude trading on New York's Mercantile Exchange was recently up 46 cents at $61.03/bbl, down from an earlier peak of $61.23/bbl."
OT: Hype, Spam, and Penny Stocks (See "bold" comment on naked sharting, since we have been discussing naked shorting, I see no reason for this post to "disappear" )).
Starting in July 2002, Bill Mann began tracking penny stocks whenever he received an email hyping one. Out of 27 "stocks," exactly one trades higher today. Six no longer exist, and the average loss exceeds 80%. Yet the hype-jobs continue so long as there are people willing to believe.
By Bill Mann (TMF Otter)
August 6, 2003
My email is a pretty good indicator of the level of speculative froth in the market. Lately, my inbox has been rotten with suggestions that The Motley Fool is wrong, dead wrong, in shunning penny stocks. Wildly overvalued stocks like Chinadotcom (Nasdaq: CHINA) and Ask Jeeves (Nasdaq: ASKJ) don't offer sufficient volatility or risk, apparently. To get really, really rich you must head to the over-the-counter markets or the pink sheets.
Curiously, that same inbox is crammed with whining missives from folks who have invested in worthless pieces of dreck like Jag Media (OTC: JGMHA) and are now convinced that "naked shorters" are conspiring to take down these stocks. Naked shorters there may be, but let's not lose sight of what's flatly undeniable: Most of these companies need no help at all destroying people's money.
So, to recap, some complain that we're ignoring "golden opportunities." Others complain that we don't cover a great conspiracy that is costing investors millions. And yet, dare say a negative word about a penny stock, and the hue and cry from the faithful is astounding.
Oh, and yes, as I predicted, those lovable misfits from Cyberfast Systems (here's an update on these guys), InvestAmerica (OTC: INVT), Microaccel (OTC: MIXL), Centraxx (OTC: CNXX), and Broadband Wireless (OTC: BBANE) all destroyed almost exactly 100% of their shareholders' money.
But what of the others?
Last year. I launched a mock portfolio of penny stocks, inspired by month after month of promotional reports on Cal-Bay (OTC: CBYI), claiming that it would soon move from $0.30 per share to above $2. I wasn't alone in noticing this -- watchdog Stock Patrol noted the same.
(Typically, shills are paid either by the company itself or some large investor to hype the shares, which they then dump on the public. But just so we're clear here, in many cases the company has nothing to do with the promotional schemes. They act merely as bait, Cal-Bay apparently among them.)
Anyway, I handled my mock portfolio as follows: Whenever I received one of those email promotions -- those "research reports" -- from a fly-by-night outfit like Bullseye Stock Profiles, Stockupticks.com, or Urgent Investor Notice, I would "buy" approximately $1,000 of the stock for my dreck portfolio.
In this manner, I could track what would happen if the world's most gullible investor swallowed every one of these come-ons. In all, I tracked 27 stocks, 25 of which were listed on the pinks or over-the-counter. One traded on Nasdaq and another on the American Exchange.
Six companies no longer exist. Only one, IBX Group (OTC: IBXG) trades higher than it did when I began tracking, and with an 11% gain, even that one trailed any relevant benchmark. My conclusion: The people who bought into these scam "research reports" have been fleeced, taken in by greed, gullibility, and more than a small slice of stupidity.
And for the record, Cal-Bay's one-year return was a minus 88% (the stock now trades at $0.035 per share). That's only slightly worse than the group average of my mock portfolio, which was negative 80%. Here are some of my favorites:
China Xin Network (OTC: CXIN) was recommended in July, reorganized in November, and still has negligible revenues and, as of the latest report, $170 in cash. The stock is down 18%.
Goldspring (OTC: GSPG), recommended at $2.25 per share, is now at $0.08. A loss of 96%.
Gateway (OTC: GWDL), a vitamin supplement company from Las Vegas, declared a 1-for-3,000 reverse split. I now own a tiny fraction of a share. That's roughly a 95% loss.
T & G2 (OTC: TTGG) is down 77% from $0.89 to $0.20. Given that the company had less than $2000 in revenues last quarter, I'm not sure what the stock price is based upon.
Indiginet (OTC: IGTT) is down 99% to $0.0009 per share. $7 in assets, no revenues. I'm sure the 1-for-250 reverse split coming up will help.
Powder River Basin (OTC: PRVB), formerly Celebrity Sports Network, is a natural gas company in a great time to be a natural gas company. Total revenues: zero. Number of shares: more than doubled in a year. Loss: 91%.
Decorize (Amex: DCZ). A listed company, Decorize manufactures home furnishings. It was recommended at $2.45 per share and currently sits at $1.48. The company gobbles up cash -- $1 million in the last 9 months, compared to $1.9 million a year earlier.
Sharps Elimination (OTC: SEMT) is a name and industry change. The company was actually recommended as Travelshorts.com. That had something to do with travel; this has something to do with safe needle technology. Total loss of 12%, but I doubt Becton Dickinson (NYSE: BDX) has much to fear.
Voyager Entertainment (OTC: VEII) cost me 94%. Planning the world's tallest Ferris Wheel, in Las Vegas, of course. No revenues.
TS&B (OTC: TSBB) took in $10,000 in revenues for its last nine months, down from $400,000 last year. Share count up 150%. 92% loss.
Ameridream Entertainment (Pink Sheets: AMDR). I don't even know what this is anymore. There's no record of it except as an entry on the pink sheet site. I "purchased" it at $0.90 per share, just like the man said. Total loss: total loss.
Star E Media (OTC: STRE) came courtesy of Stock Upticks. It's a children's education company, "positioning itself to become a participant in a global market estimated at nearly $4 billion." Down 64%. A very, very minor participant, apparently.
Broadband Wireless (OTC: BBANE) is an all-time favorite. I panned these guys in 1999, and here we are again a hyped penny stock in 2002. Not much better the second time around. Loss of 62%, and the company is a month late with its 10-Q.
Thoroughbred Interests (OTC: TBIN) is, you guessed it, a publicly traded horse trader. Should have gone with Seabiscuit; this one came up lame, down 83%.
Hunno Technologies (OTC: HUNN) came via a "service" called Growth Stock Alert. The come-on for this fingerprint identification technology company includes the line "Imagine if you could travel back in time and buy into Cisco Systems (Nasdaq: CSCO) in the early 1990s just as it was going public..." Yes, I'm imagining. I don't see Hunno. Stock drops 90%.
Paystar (OTC: PYST) may be my absolute favorite. It's the "leading provider of Internet Kiosks." At the same time that Stock Upticks was "featuring" this company, filings revealed that it had "going concern" issues. Someone posting as "stockupticks" claimed on the Paystar message board at Raging Bull that his company doesn't recommend companies, that it "simply showcase[s] their business plans to our database without an opinion as to present or future valuation." While this is technically true, I don't recall seeing the "going concern" mentioned, either. Down 62%.
Entreport (OTC: ENPO) died after a December reverse merger fell through. Loss of 100%.
Aampro (OTC: AAPO) currently trades at $0.12 -- a decline of "only" 23%. What does a company with a stock trading just above a dime do? Splits 3 for 1. That's planned for the end of this month and will "assist with current and future corporate goals and strategies." Wow.
Overall, the results are startling. I figured that these companies would trail the market, but the sheer loss staggers me. Sadder still is that if there was an insufficient supply of suckers out there, these promoters wouldn't make a dime. But rest assured they did much, much better than their "clients."
What's the lesson? Isn't it obvious? Taking big risks with your investment dollars is just that -- high risk. I'll go one step further: Those who buy shares based on random spam emails aren't investors; they aren't even speculators. They're marks.
Fool on!
Bill Mann, TMFOtter on the Fool Discussion Boards
Bill Mann owns none of the companies mentioned in this article. To find some straight-shooting, undercovered companies, consider subscribing to Tom Gardner's Motley Fool Hidden Gems.
Coming up on Dateline NBC
SUNDAY, JULY 31
7:00 p.m. ET Dateline tells the story of two parents who started off as bitter adversaries on opposite sides of a courtroom. However, after a sudden twist of fate, they come together to fight for the same thing: justice for both of their sons. Hoda Kotb reports.
Maybe more? The two parents' troubles started when they became involved in naked shorting with a group of couples in their neighborhood. Authorities believe the group was responsible for the downfall of hundreds of small companies and costing naive investors trillions of dollars. The parents broke up on news of Dateline's coverage and are now involved in a nasty suit to keep their sons from working at a brokerage firm.
So the clay is not 100% nano tubes? How does one separate a Halloysite nano tube from a non-nano tube? Sounds like separating fly poo from black pepper.
Gold thoughts:
(I'm holding GG long term)
Gold: The Long And Short Of It
Jack Adamo, 07.20.05, 9:41 AM ET
NEW YORK - I've been following Insider transactions for more than 13 years. Much of the Insider buying seen today is phony public-relations buying mandated by investor-sensitive boards. It doesn't take a genius to tell the real from the fake, but a lot of experience helps.
One place where I still get very clear and valid Insider signals is the gold industry. It's not the standard type of corporate Insider buying, but rather proprietary measures I've observed and developed over the years. Those signals are pretty good right now.
Short-Term Outlook
The U.S. dollar got a real shot in the arm this spring after France and The Netherlands spurned the proposed European Union Constitution. Central banks that had been diversifying out of the greenback and into the euro undoubtedly had second thoughts about a currency that may not be around in ten years. Since gold is priced internationally in dollars, it is a bullish sign that the metal is holding up so well against the greenback's rise.
By mid-May my indicators said that Insiders were again positive on gold. In the May 14 newsletter, I began removing the holds on our gold stocks that we had in place during the winter correction. A few weeks later, I repeated my recommendations (see: "Gold Stock Resurrection").
In the two months since my original call, the four stocks in our portfolio rose between 10% and 18%. The short-term indicators weakened somewhat after the big run, but now appear to be firming again. We're still holding two gold positions and took profits in two others, Newmont Mining Corp. (nyse: NEM - news - people ) and AngloGold (nyse: AU - news - people ) Ashanti, but those were for company-specific reasons. I may have new buy recommendations this coming weekend if the data show continued improvement.
Long-Term View
My fondness for gold isn't based solely on short-term indicators. It is based on the structurally weak long-term outlook for our currency. The U.S. has been staving off a post-tech bubble recession by pumping easy money into the economy. In the decade prior to 2000, M3 money supply growth roughly tracked gross domestic product growth. Since 2000, M3 growth has been double the rate of GDP growth. The only thing keeping inflation at bay has been outsourced labor and cheap imports from abroad.
But that can only go so far. According to David M. Walker, the Comptroller General of the U.S., the U.S. has $43 trillion in unfunded liabilities. Yes folks, that's trillion, with a capital T. What's more, that number is up $13 trillion in the last year alone! What are the chances our fearless leaders will opt to exercise the extremely unpopular fiscal discipline necessary to reverse this trend? My trusty financial calculator with advanced probability functions says, between slim and none.
We will inflate our way out of these liabilities. We will pay off our debts in cheaper and cheaper dollars. Ben Bernanke, who is the odds-on favorite to succeed Alan Greenspan as head of the Federal Reserve, has said he would drop money from helicopters, if necessary, to fight deflation. I'm sure he'd find a whirly bird or two to help pay down the national debt if some future White House occupant said "pretty please."
But the U.S. isn't the only one diluting its currency. Japan and China have been doing the same to keep their exchange rate low in relation to ours and to avoid losing their trade advantage.
Europe has maintained a strong currency and fiscal discipline up until now, but its economy is stagnant, and member states are complaining about the strong euro, despite its recent decline. Some countries are even talking about going back to separate currencies. Italy, for example, has a strong and growing movement to return to the lira. The temptation to stimulate the economy with cheap money will eventually overcome Europe.
Ultimately, gold will rise the most in dollar terms, due to our huge and growing deficits. This will help American-based miners such as Barrick Gold (nyse: ABX - news - people ) and Glamis Gold (nyse: GLG - news - people ), as well as the Canadian Goldcorp (nyse: GG - news - people ), which reports its earnings in U.S. dollars.
To sum it up, the short-term outlook for gold is moderately positive and shows signs of improving. The long-term trend can only be upward. The intermediate term of six to 24 months is less predictable, since a recession would probably knock prices down for a while. But for patient investors, gold is very likely to outperform the stock market.
Written by Jack Adamo, editor, Insiders Plus.
Disclosure: Jack Adamo owns positions in Meridian, Newmont, AngloGold, Goldcorp and Randgold.
So the USA and Canada economies just can't compare to Poland for selling the KDS?
Snap Hook, I hope he doesn't bring back pictures of Tandem!! LOL!
Have a safe one, Doubloon. GLW rec'ed by Motor Mouth Cramer:
What do you see over the long term for Corning (GLW:NYSE - commentary - research)?
-- Mike from New York
James J. Cramer: I believe Corning is a winner. The LCD television business is booming, and the telcos are racing to put out fiber optic data networks. On top of that, the company has a stealth business in making the filters for exhaust systems in diesel-powered cars, which is a potential home run.
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OT: TRCPA, if you had just a smidgen of a sense of humor, half my posts wouldn't be gone! LOL!
starboy, how's this email:
What the F*ck is going on!
Thanks for your time,
Jagman
OT? Will FASC be on Dateline? OT?