Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here we go! .72 x .74 19,550 volume
Trying to do a little shake right now. Can't imagine it will last too long. PPS will move higher once the 10-K is released.
Good article on the technology required to undertake the deepwater Perdido project:
http://www.shell.com/static/technology-en/downloads/news_and_library/publications/perdido_enabled_by_technology_eandp_may2007.pdf
-faz
Looks like it has a lot of potential. Might be significant work on the maintenance side once the project is online and operational.
-faz
About the Shell Perdido Project:
http://www.shell.com/home/content/aboutshell-en/our_strategy/major_projects_2/perdido/perdido_13032008.html
Shell announces plans to develop in the ultra deepwater of the Gulf of Mexico
26/10/2006
Shell Offshore Inc. (Shell) announced today that it will develop the Great White, Tobago and Silvertip Fields via a Perdido Regional Development host, located in Alaminos Canyon, offshore Gulf of Mexico, approximately 200 miles south of Freeport, TX. Moored in about 8,000 feet of water, the regional DVA (direct vertical access) spar will be the deepest spar production facility in the world. First production from Perdido is expected around the turn of the decade, with the facility capable of handling 130,000 boe/d.
The concept for regional development includes a common processing hub in Alaminos Canyon Block 857 near the Great White discovery that incorporates drilling capability and functionality to gather, process and export production within a 30-mile radius of the facility. This concept will provide regional synergies, reduced cost and lower risk. This regional concept will also reduce the number and size of the facilities and operations in this challenging frontier area, resulting in a lower environmental impact than would otherwise be achieved.
“The Perdido Foldbelt is remote and is located in ultradeep waters from about 7,500 - 10,000 feet, with rugged seafloor terrain,” explained Marvin Odum, Executive Vice President, EP Americas. “This geologic setting is different from what has previously been produced in the Gulf of Mexico and will establish the first production from the Lower Tertiary (Paleogene) play in the Gulf of Mexico. Shell has been a leader in the opening of this play, starting with exploration in the 1990's, and is proud to be at the leading edge of development and production. To accomplish this record-breaking feat, we will apply cutting-edge technology, engineering expertise and industry leadership."
Shell was at the forefront of opening up the Lower Tertiary play in the western deepwater Gulf of Mexico with the Great White discovery in Alaminos Canyon and will be the first to bring production from this area to market. Shell, as operator, commenced exploratory drilling operations on March 6, 2002, in 8,009 feet of water. The well reached its final total depth on May 18, 2002. The original well was drilled to a true vertical depth of 14,405 feet. An appraisal well was drilled to a true vertical depth of 15,035 feet in 2002. Shell has drilled a total of five wells at Great White, with the most recent spud occurring in March 2004.
Shell will operate the Perdido Regional Host. It will be jointly owned by Shell (35%), Chevron (37.5%) and BP (27.5%). Great White is located in Alaminos Canyon 812, 813, 814, 857, 900 and 901 and is owned by Shell (operator) with 33.34%, Chevron with 33.33% and BP with 33.33%.
Tobago is located in Alaminos Canyon 859 in approximately 9,600 feet of water. It is operated by Shell with 32.5%, Chevron with 57.5%, and Nexen with 10%. The discovery well was drilled in 2004 to a total depth of 18,510 feet. A sidetrack well was drilled to 18,425 feet.
Silvertip, in Alaminos Canyon 815, is operated by Shell with 40% interest. Chevron holds the remaining 60%. Chevron drilled the AC 815 #1 discovery well in August 2004 in approximately 9,200 feet of water, to a total depth of 14,778 feet.
Shell Perdido Project Location:
Image Description: Perdido Project
Keywords: Perdido Project, Great White, Silvertip, Tobago
Type of Image: Map
Dimensions: 550 pixels tall by 550 pixels wide
Date Created: Thursday, May 03, 2007
http://www.rigzone.com/news/image_detail.asp?img_id=4376&a_id=55441
-faz
From the PR:
HOUSTON, March 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) announced today, in a continuing effort to create installation-friendly, solution-oriented products for its clients, that it has custom-engineered, produced, and shipped BS Latcher receivers and Messenger Wire Kits to mitigate the problem of marine growth in shallow subsea environments for umbilical systems in the Shell Perdido project.
Love to see this kind of language in the PR's!!!! Goes to show that Deep Down is synonymous with "custom engineering"! It is also nice to point out that all of this has been done already!
Great news today. DPDW continues to deliver.
-faz
Only a misinformed hack would be buying this POS. If Berman is buying this, he certainly fits that description.
-faz
Starting to see some volume coming through at .68. Can't be too many of them left.
-faz
70's gone....72 on deck! LMAO! lots of buys coming in. Chart is on fire!
-faz
LOL!!! Rally monkey baby!
http://www.rallymonkey.com/video/kenindex.swf
-faz
.80's are going to come pretty quick!
.70's up!!!
awww yeah!
-faz
Here come the .67's!
-faz
just keeps getting worse...
Michigan Congressman Wants 50-Cent Tax Hike on Every Gallon of Gas
http://www.foxnews.com/story/0,2933,339589,00.html
A Michigan congressman wants to put a 50-cent tax on every gallon of gasoline to try to cut back on Americans' consumption.
Polls show that a majority of Americans support policies that would reduce greenhouse gases. But when it comes to paying for it, it's a different story.
Rep. John Dingell, D-Mich., wants to help cut consumption with a gas tax but some don't agree with the idea, according to a new poll by the National Center for Public Policy Research.
The poll, scheduled to be released on Thursday, shows 48 percent don't support paying even a penny more, 28 percent would pay up to 50 cents more, 10 percent would pay more than 50 cents and 8 percent would pay more than a dollar.
"I don't want to pay more, I don't think anyone wants to," said Karen Deacon, a motorist.
"I think that wouldn't make any sense," said Frankie Hoe, a motorist. "Ugh ... who's making the money from all this and where is that money going? Is it going to go green? I don't see any green things anywhere."
The automobile is the nation's biggest polluter; Americans use more gas than the next 20 countries combined.
Some environmentalists and economists say pain at the pump may be bad for Americans, but good medicine for a sick planet.
But others say it wouldn't change much. Even if Americans abandoned their cars, global emissions would fall by less than one percent.
"A tax on gas is a way to reduce dependence on import oil, reduce traffic congrestion and reduce carbon emissions," said Lester Brown, president of the Earth Policy Institute.
The Earth Policy Institute proposes raising the gas tax 30 cents per gallon each year over a decade and offset with a reduction of income taxes, Brown said.
David Ridenour, vice president of the National Center for Public Policy Research, said the proposal wouldn't help long term.
"I think when you are talking about raising gas prices, there may be short-term reduction, put off vacations, but bottom line is over long term, that isn't going to have much of an effect," Ridenour said.
While Dingell's idea will likely lie dormant until after the 2008 election, the idea of carbon taxes is not. Hillary Clinton, Barack Obama and John McCain all support some type of system that either directly or indirectly will raise prices to penalize polluters.
Wonder if they wrapped up the tour by stopping by Ron's office, logging on to their broker and buying up those 61's. LOL!
63's up to the plate!
-faz
I wonder how real those .61's are anyway.
-faz
I have a feeling that Michigan is going to elect quite a few republicans this year. Hopefully the masses there have had their eyes opened to the damage that the LIBS have done there.
-faz
Ouch...
Sorry that you live in Michigan man. That state used to be a great state. Now it is the example of what would happen if LIBERAL policies were implemented regarding the economy.
Truly amazing. The auto industry needs to unload the unions and then maybe, they could survive.
-faz
Auto Makers Prepare for Worsening Slump
By TERRY KOSDROSKY and MIKE SPECTOR
March 20, 2008; Page A2
http://online.wsj.com/article/SB120593252021148373.html?mod=hpp_us_whats_news
The Big Three U.S. auto makers are preparing cost cuts and other belt-tightening measures in case a slumping U.S. economy hurts sales more than expected.
General Motors Corp. has pushed some capital expenses from the first quarter to later in the year to make sure it has enough cash if the downturn in the U.S. market worsens, the company's chief financial officer said yesterday.
Separately, Ford Motor Co. executives said the auto maker is considering options to cut costs further to reach its goal of becoming profitable by 2009.
Chrysler LLC, meanwhile, said it completed previously planned moves that will lower production at several plants in anticipation of weak sales this year.
Speaking to reporters at the New York auto show, Chrysler Chief Executive Robert Nardelli acknowledged Chrysler isn't yet generating positive cash flow. He also said that the company planned "aggressively conservative" production cuts so it would be able to deal with a down year and that it didn't assume auto sales would rebound in the second half of the year.
Most auto makers have been forecasting industry sales of 15.5 million to 15.7 million cars and light trucks this year, down from nearly 17 million two years ago. But turmoil on Wall Street has raised concerns that vehicle sales could come in even lower. A new forecast by J.D. Power & Associates earlier this week put industry-wide sales of light-duty cars and trucks this year at 14.95 million, the lowest level since 1994.
Speaking at an analyst conference, GM Chief Financial Officer Ray Young said his company is sticking with its forecast that vehicle sales will pick up in the second half of the year. GM expects total U.S. vehicle sales, including heavy trucks, in the low 16 million-unit range, meaning light-vehicle sales of roughly 15.7 million.
Mr. Young said GM has taken about $500 million in "management actions" to mitigate a possible downside scenario. To conserve cash and help its liquidity amid tight credit markets, he said, GM will look to take advantage of government-funding programs in certain capital-spending programs in some countries, including Brazil, that could provide needed capital.
GM ended 2007 with liquidity of $27.3 billion and access to about $7 billion of undrawn U.S. credit facilities. Mr. Young said he is monitoring liquidity on a quarter-by-quarter basis.
GMAC LLC, in which GM owns a 49% stake, is adequately capitalized, and the auto maker doesn't plan on making a cash injection, Mr. Young said. Concerns that GM might have to contribute money to its former lending unit have sent its share price down in recent weeks.
Also in New York, Ford Executive Vice President Mark Fields said the auto maker has to "look at every element of the business" for cost-cutting opportunities, should its effort to trim its hourly work force fall short of its target.
Ford had hoped to shed another 8,000 factory workers with the recent buyout offer, one person familiar with the matter said. But the company is likely to wind up well below that target -- as many as 3,000 workers short -- when executives determine the final tally. The deadline for workers to take a buyout was midnight Tuesday.
Mr. Fields declined to comment on the acceptance rate and said the auto maker won't offer another buyout program.
Speaking to analysts, Ford CEO Alan Mulally said the company remains committed to reaching its target of reducing operating costs between 2006 and the end of this year by $5 billion. To reach the target, executives will consider cutting budgets in the auto maker's core departments: purchasing, manufacturing, product development and marketing, a person familiar with the company's plans said.
Ford will assess where to cut costs and by how much on a case-by-case basis, this person said, in order to ensure it reaches its operating-cost-reduction goal. It remains unclear which departments would receive the bulk of the cuts and by how much.
Ford has reduced about $2 billion in operating costs in the past two years, meaning it needs to cut roughly $3 billion this year to reach its goal. In addition to high energy prices, higher raw-materials costs "clearly make that harder," Mr. Fields said.
Both executives said the annual selling pace in the year's first two months has come in at the low end of the company's projections, about 15.3 million light vehicles. "Clearly, the economy is contracting," Mr. Fields said. "It doesn't take a rocket scientist to see that that's happening."
Mr. Fields said Ford's goal is to "keep ahead of what we see in the marketplace and adjust production accordingly." Mr. Mulally said Ford would continue slashing production amid lower demand instead of resorting to discounts.
Yeah, that's it. LOL!
They must be having a good laugh when they see the west giving up their freedoms left and right so as not to offend muslims...all in the name of "The Religion of Peace"
-faz
Companies are going to move to where their money is treated the best. With the some of the highest corporate taxes in the world, the US is the last place that corporations are going to want to move. You would think this is a no brainer, but oh no...not for LIBS. They think those greedy corporations have too much profit and need to be taxed more.
-faz
You gotta love how LIBS have buried their heads in the sand when it comes to why radical muslims hate the west. If they are going to kill people over stupid cartoons, then it truly shows that they cannot be negotiated with.
Wonder how much the US will embolden Bin Laden and Al-Qaida when Obama and Hillary surrender in Iraq.
-faz
Amazing how LIBS are incapable of understanding the economy. If either Obama or Clinton get elected, we are going to be in for a world of hurt.
Thanks for the article!
-faz
Sweet! Must be installing new cameras today. Can't wait to see the other ones they replace.
-faz
Ready to pop if you ask me.
Like a coiled spring wound really tight!
-faz
Very true. I can't find anything relating Botanic to an exploration company other than the PR today. Guess we will get a little more info once Botanic goes public.
-faz
I am not sure if this is the company, but it might be. There is some reference to Sarissa in the past. However, this is not Botanic Oasis International Inc unless it is a subsidiary.
http://www.botanicoasis.com/
Sarissa Resources, Inc. Purchases Five Percent of Botanic Oasis, Inc.
http://www.primenewswire.com/newsroom/news.html?d=114332
BAY CITY, Mich., Feb. 26, 2007 (PRIME NEWSWIRE) -- Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc. (Pink Sheets:MGGV), is pleased to announce that the Company has purchased five percent of Botanic Oasis, Inc. for $40,000 and 5 million shares. Botanic Oasis distributes Botanic Pax, a biodegradable product used to increase crop yield, decrease drought losses, and reduce labor and mechanical costs in agriculture.
Botanic Pax is a super-absorbent, hemp mesh sac that resembles a tea bag. Combined with fertilizers, fungicides or plant growth hormones, the bag acts as a reservoir and releases water on demand while making fertilizers more soluble. Botanic Oasis, Inc. supplies the Tea Bags to golf courses, forestry , gardens, greenhouses, nursery industries and municipalities.
"The goal of this cooperative is to develop a network of distributors in key locations and industries to exploit local sales channels. This is a product we see as a substantial part of the future in agriculture considering its effectiveness and its cost-saving potential. I believe this investment is a ground floor opportunity in a fast growing new segment of the agricultural resource industry," stated Ben Fuschino, CEO of Sarissa Resources, Inc.
Botanic Oasis, Inc. was founded in October 2005 with sales currently in ten countries forecasted at $600,000 in 2007 and $2.5 million in 2008. The suggested distributor mark up for Botanic Pax is 100% with a low manufacturing cost of approximately 6-8 cents per unit. The product is currently being used or tested in ten countries and undergoing carbon credit certification and registration with the United Nations.
BUD FOX,
Excellent model. I appreciate the time and effort you put into this.
-faz
The bulk majority of mining expenses occurred in the from June to Dec of 2007.
Mining expenses:
June 2007: $117,517
Dec. 2007: $427,213
Spent in the second half: $309,969
-faz
Righty,
Just doing a cursory pass at the expenses from 2006 to 2007 as well as H1(2007) and H2(2007) there are some surprising things.
Link to 6/1/07 report: http://www.pinksheets.com/otciq/ajax/showFinancialReportById?id=11430
Link to 2007 annual report: http://www.ru308.com/2008_03_13_news.asp
Thanks to AWARE!!
The thing that stands out to me the most is that the G&A for 2007 was greater than the Mining and Exploration Expenses. That is ridiculous fr a company that is a startup. If the CEO really cared about this company, he would have done it for far less of a salary and allocated more money to exploration.
In 2007:
G&A: $458,329
Exploration and Mining: $427,213
I am not sure what G&A constitutes in Berman's world, but I can't imagine a company of 1 or 3 or whatever can have too much in the way of Administration.
Also, the office expesnes increased by 32x. We went from expenses of $381 in 2006 to $12,305 in 2007. Must be a nice 2 or 3 brand new computers for the Berman residence. What the heck is he spending $12k on if he works out of his home?
In the last half of 2007, Berman spent $5397 on travel and entertainment. I don't recall Berman making too many visits to Utah, so that must have been flights for Layne Berman, the deadbeat's brother.
I will look into this a bit more later, but these are a few things that stand out initially. I haven't really even gotten into the balance sheet or cash flow yet.
-faz
Aware,
Thanks for posting that to the website Any chance Berman will give you a few paragraphs about the company and himself?
-faz
Damn! RSDS clocked a whole 503 dollars in revenue! That is amazing!
but wait. hold your horses! They also had a 2265% increase to administrative costs! Guess that board of director...errrr...Berman made a nice salary! What a joke.
HAHAHAHA!
-faz
The utter incompetence and naiveté have once again been proven true. What an idiot. To thin that this man actually has a family that keeps in communication with this bum. I am sure he lies to them about what he really does just like he lies to us.
Save the company. What a joke. If that is anything like evaluating mining claims or selling a tailings pile, then he does not have a prayer.
I bet his emails to you were worded just as badly as all his PRs were. I have a few cousins who are in 3rd grade who can write, spell, and apply grammar to writing better than Berman. Hahaha!
You have also go tot o love that he comes pleading at first to iHUB. A freaking message board. Guess he knows that the performance and future of his company is in our hands. Nice try at a peace offering Berman.
Righty, tell me if at anytime he told you to just hang in there and that things will get better. I love that line he throws into his emails. What a nut case!
Anyway, I wouldn't waste anymore time on a lowlife that does not have the wherewithal to rebuild his "company" even if he truly wanted to.
In the dictionary, you will find Berman right between Bubba and bent over the sink. Oh wait, actually that is where you will find him in prison!!!!
What a joke he is.
-faz
Nice. Thanks for the advice. Firefox was killing me with cutting off the right side of the chart. I tried what you suggested and it worked. Good man!
-faz
tech,
For some reason the video crops off to the right if you play it in firefox browser. I punched the link into Internet Explorer and bam...good to go.
Give that a try.
-faz
20k hit to the ask knocks the .68's off the block!!!
.68's on deck! Wall? What wall? .70 here we come!
Could be a big volume day here! Would love to see this bump up into the .70's
-faz