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yeah- it was $3 in court costs- the rest was interest and carrying charges
the erhe fine- $3.84 and the case is gone!!
erhe is 19.5- so i'm up for the day-lol!!
somebody stop me
bought more at 19 centavos
bought more at 20 centavos- kinda cheap
picked up more- 20.4 centavos- dirt cheap here
are you ready for poo $300? well, are you?
http://p100.ezboard.com/Are-we-heading-to-300-crude-oil/fpeakoilpetroleumandpreciousmetalsfrm10.showMessage?topicID=12168.topic
snp seeks more diesel imports
http://www.resourceinvestor.com/pebble.asp?relid=37291
world oil reserves overstated by 300 billion blls- huseini
http://p088.ezboard.com/Oil-reserves-overinflated-by-300bn-barrels--alHuseini/fdownstreamventurespetroleummarkets.showMessage?topicID=21284.topic
hey crappie- if erhe gets down to
19 centavos, you're gonna have lots of company buying-lol!!
right tamtam- i agree-eom
someone asked why erhe wasn't being bought out
well, the majors only want real reserves, that's why
for example, oilexco is producing 30,000 bbls/day in the north sea but isn't being bought out yet cause they haven't finished drilling ptarmgian, shelley, and huntington- once they do this and production = 100,000 bbls/day i would expect a buy out- so production and reserves must be proven before big oil makes a move
here's the whole article
http://www.theoildrum.com/node/2693#more
to mrogop- sorry i'm so late
On this graph, a person can see that world oil production was rising fairly steadily, but recently has "stalled out". Based on data of the United States Energy Information Agency (EIA), oil production for 2005 was a little higher than that for 2006. Partial 2007 data suggests that 2007 production may be a little lower than that for 2006.
Because of this "stalled out" condition, there is a growing gap between what the world would like for petroleum production, and what is actually being produced. At this point, the countries that are suffering a shortfall because the current price is too expensive are mostly third world countries from Africa and Asia. The International Energy Agency (IEA) has expressed concern that oil production is not high enough, and believes that Organization of Petroleum Exporting Countries (OPEC) should produce more.
5. Can OPEC raise its production of petroleum?
Many people suspect that the answer to this question may be no. Some publications report that Saudi Arabia is having production difficulties, as are several other OPEC countries (Kuwait, Iran, Nigeria and Venezuela). Saudi Arabia does not admit to any production problems. EIA data indicates declining oil production for Saudi Arabia, even before OPEC production cuts were announced in the fall of 2006.
peak oil production came 30 months ago- hang on to erhe!!
Peak production of conventional oil came 30 months ago and although new production projects will come on stream in the next few years, they will have a hard time balancing the depletion from existing fields which various speakers placed at 4-5 percent a year and probably increasing. As a greater share of world production shifts to undersea production, which is expensive and is usually water flooded to get the oil out as quickly as possible, some believe the annual world depletion rate could increase to six percent or more.
The most ominous development for countries such as the U.S., which must import most of its oil, is the emerging concept of “peak exports” which was discussed by several speakers. Peak exports simply means that oil-producing countries are using more and more oil at home – leaving less to sell abroad. Moreover, sentiment is starting to develop in many nations that they must save some oil for future generations, not just sell it to the foreign devils as quickly as possible.
This clearly means that major oil importers will face a shortfall in their ability to obtain oil many months or years sooner than they had been anticipating. The fall in the amount of oil available for purchase is likely to drop much more quickly than declines in production. When world oil exports fall, if they have not started doing so already, effects are likely to sharp and painful.
bayfisherii- the majors are waiting for proven reserves- not speculation- they figure that they can buy the nigerian independents after drilling so why bother
right oil cowboy- the US congress writes endless resolutions re: darfur but it makes no diffence whatsoever- why?? because sudan has oil and petrochina wants the oil
kobiashi- buffett sold petrochina but not because of sudan- he sez he'd buy back if it fades-lol!
OMAHA, Neb. (AP) -- Billionaire Warren Buffett said Thursday his company had sold all shares of Chinese oil conglomerate PetroChina Co., a corporation that activist investors have urged him to divest in because of its ties to Sudan.
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But the chairman and chief executive of Berkshire Hathaway Inc. told FOX Business Network the decision to sell was based on the shares' valuation, and had nothing to do with the Sudan connection.
"If it went down a lot I'd buy it back," he said. Berkshire made about $3.5 billion on a $500 million investment, Buffett said, but "we still sold it too soon. I left a lot of money on the table."
addax presentation
http://biz.yahoo.com/cnw/071017/addax_presentation.html?.v=1
kobiashi- sorry i didn't get back to you re: buffett sales- is that really true? i can see it as a possibility but i thought that buffett just wants another 10 bagger profit
kobiashi- thanks for the info- it's interesting that warren buffett has just sold petrochina- but you gata remember- he bought it back in 2001 and has made 10x his money so cashing out is aok for him
sinopec up 12%
http://finance.yahoo.com/q?s=SNP
cvx buys $15 billion worth of stock- hulbert's comment
http://www.marketwatch.com/news/story/chevrons-big-buyback-announcement/story.aspx?guid=%7B79405662%...
xom sez- we want to be like erhe!! lol!!
xom wants a free ride to first oil and gas in block one- that 2% profit oil will eventually pay out a lot more than the cash they got from addax- yes, xom, the new erhe on the block!!
right viszla- i got tired of seeing 9035 shares traded-lol!!
ok- i got a fill at 24.5 centavos
ok viszla- i jacked it to 25 centavos-lol!
is erhe halted? i've had a bid in at 24.5 centavos for hours but no action
so, the impression that i get from reading the xom and cvx websites is that both companies will be increasing their respective investments in the gulf of guinea and in the jdz. there is no mention of any withdrawal by either co!!
cvx comments on jdz
Chevron is leading the Sao Tome-Nigeria Joint Development Zone (JDZ). Block 1 was acquired in 2004 and a production sharing contract was signed in 2005. Commercial options are currently being examined to determine the potential for additional drilling.
and cvx seems to like nigeria just fine
http://www.chevron.com/operations/Nigeria.aspx
it doesn't look like xom is ready to leave the gulf of guinea
http://www.exxonmobil.com/apps/crude_oil/crudes/mn_erha.html
right kobiashi- i agree- this block 1 sale nonsense is totally overrated
thanks rtk- well, the small sale of cvx to a joint venture of cvx/sasol certainly doesn't look like a major sale of interests in block one is imminent
i don't see any information anywhere about xom or cvx reducing their interests in block 1- is this really factual??