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Nice to see you are here as well as PBLS
There are many ways to ask a question without asking a question.
Example: Their mine: you see equipment: Equipment has a rated capacity it also has to draw an electrical load. Once the rate of production is stated then there would have to be a correlation between what is stated and what is needed. The answer = what is the onsite transformer rated for and what size are the feeder cables. If the transformer is sized for that load then most likely there is that load. Why would anyone buy infrastructure that is many times what is needed? Answer; they would not waste the money to cover what is in essence a far flung question. That would mean trouble.
The dregers; Are they run on Diesel? What is the on-site storage capacity for Diesel? How often is the storage tank filled?
I think you get what I am saying here. The questions and answers are there by other means.
The question for ProGas is in essence; Is ProGas able to control, operate, market and manage 5,000 BBL/d of production?
That is what leases in WY and NV are capable of and more.
Many other issues as well including trading, options, gathering systems, assets and their current shape, future management and what is the function of the Houston office on San Felipe (Which is not a cheap address), Marathon and many others are on the same street. What is related to the mailing address with the zip code 77002 (Better known in Houston as Oil & Gas Central).
Companies with offices that share that zip code include
Sabine Gas Transmission
Chevron
Plains Marketing
El Paso (HQ)
Koch
Dynegy
Enbridge
Valero
Burlington Resources
Genesis Crude Oil
Lone Star Pipeline
EnCana
Texaco
Cheniere Energy, Cheniere Pipeline, Cheniere LNG (HQ)
ExxonMobil
Kinder Morgan
FreePort LNG
Shell
Corpus Christi LNG
GE Energy
Gulf LNG Energy
CenterPoint Energy
And a Ton of others
Good ones and so noted. The sheet is getting longer. As for not seeing JB, that will come in May. Does not matter what a person can say or is "muzzelsd" by PA, it is what you see, and what makes sense and what does not.
PS
If you have questions you want answered but do not want them posted here then email them to me at eweatherly@houston.rr.com
We will also be visiting the Louisiana facilities in May. Another co-worker of mine is a metals & minerals research manager. Hence the mining part. To the person who debated the value of resources in the ground. As I understand it, once facilities are put in place to secure the exploitation of the resource then the resource can be monetized.
Nice is not really what I am looking for. Examples: assets, barges, pipelines, storage, trading,... do assets need overhaul & improvements,,, etc.
That would explain the high cost of revenue ProGas does have and that is on of our questions.
I and a co-worker will be visiting ProGas in Houston this week. My back ground is oil & gas research & my co-worker is in the refining research section and deals with oil traders. Does anyone have any questions they would like answered?
Hmmm,
I think the last time I saw so many knee jerk reactions I was 5 years old and my friends discovered what the cat really does in the back yard sand box. I don't think I ever looked at that plastic shovel the same again. Just could not seem to get the smell off it. Debate is good. Proof is better. We all have to fight our own battles in life, the thing I like the most about this one is that I get to pick out battle ground. Some times it is a struggle not to loose your nerve and flip flop and second guess your self as to which side to stand with. We pick the battle ground & we pick a side and we wait.
When the smoke clears, then the winners and loosers will become all to clear.
Look up the teapot dome formation. PBLS leases are a part of that formation.
Once the bbl/d of production is known by quarter & PBLS begins to drill WY (a larger deposit) then we will ride the oil wave. With its ups and downs.
DRILL
DRILL
DRILL
Just nailed another 100k
There will be most likely a second firm to confirm the numbers and so make them stand without question...
Based on what??? Their position on land is huge, the president of Oil Sands Quest (70% owned bt CWPC) was a founding member of Synenco, There is Eagles Nest, There are other properties. A group of us are in on 30,000 shares we took at .90 to 1.31 per share. Do your DD. If you chose to bash, it is a waste of time since the swings alone could provide 6% - 10% swings in a day. Are you one of those cry babies who did not win so they lash out???
If you don't understand the economics of oil sands and the present geopolitical situation then stick with Gov't bonds.
GSAD
Once UTS & Petro-Canada file for the upgrader then we should see the next major move, look for a few days of high volume like CWPC had before it moved fro 4.5 - 5 to 7 to 8.
I understand that. The lat & long belong to the TeaPot Dome formation north of Cheyenne. The leases are in the general area of the dome formation. Was once part of the Naval Reserve as was Elk Hills in Calf now owned & operated by Oxy. Same formation that producted the Teapot dome scandal that rocked the government so many years ago. As for finding their permits on line... The BLM is so burried in the Rockies these days that their website is badly outdated. Some states you have to physically walk into the office and inquires as to the permits.
Does anyone know if PBLS leases in Wyoming are near
43° 17′ 19″ N 106° 10′ 22″ W
????
Better look, Info is more condenced, One chart is cool even though I will not need it. A group of of myself and co-workers are now at 5.3 million shares.
There is no madness here. Just know that if they secure (2) rigs and a TX property then all H%ll will break loose. I have seen this several times onver the last 9 months. See chart histories for UTS, CLL, CWPC, DWOG, SRGG, EDNE, etc the list goes on. As long as China keeps going and if by chance India wakes up,,,, this will be a twist in the stk mkt that no one has ever see. Brave new World.
If PBLS is using shares to purchaes then they would be smart to re-purchase the exact number or double the number as so not to impair the O/S ratio.
What would happen if they published their numbers and releases the largest share holders and one of them was ML???
I will lay money on the fact that companies are banging on their door to JV (50%/50%) the Nevada stuff and drill it at no cost to PBLS in order to farm in. If this happens I lay further money that PBLS will acq a TX unconvential oil lease with over 500,000,000 BBL in reserve. Getting it out will be akin to an oil sands type of operation in that there will be an expensive EOR method used. IMHO. I just see the dots lining up.
Nevada was once a Naval Reserve and hence mostly off limits to drilling. Since Wolverine hit in UT near by there has been a lot of interest to the point that leases are going for $1,000 per acre. The Wyoming stuff is a better target to begin with and hit rates are high. Besides the Nevada holes are deep and a dry hole could cost $4 million. Much better to use cash flow from other areas of the company to continue KY & TN oil operations and in addition drill Wyoming and in turn if they hit then turn to Nevada.
Does anyone know if PBLS is currently buying back shares from the market??? At the current price 10,000,000 shares (1% of A/S) would cost $250,000 to $270,000 and would be hardly noticed at 2,500,000 shares per day.
Any one know???
PS. Look at the value of other partners taking an ownership position in an upgrader. OPTI Canada, SYN, and Canadian Oil Sands Trust. Throught these you will get an idea of what is instore for UTS.
Petro-Canada did not give them $300 million CND to just sit on the project.
In order of development SYN, is a 60% owner of the Northern Lights project and it is in permitting... trades at approx $25 CND (Went public a few months ago at Approx $18 CND), SYN is in the permitting and siting phase of its upgrader project...
OPTI Canada is a 50% owner and has the first phase of its upgrader underconstruction with Nexen, other phases have been announced, first steam is planned for late 2006 for the SAGD portion and pahse I upgrader commisioning is scheduled for early - mid 2007 Trades Approx $45 CND.
Canadian Oil Sands Trust is a 39% owner in the operational SynCrude project. I think at approx 220,000 BBL/d and has stated further phases. Trades at Approx $160 CND.
Follow the chain of development and you will see what is coming. Money where my mouth is DWOG = 25,000 shares, SRGG = 10,000 shares.
Stuff to watch for.
1) IPO of BA Energy
2) POU and its dealings in the oil sands patch. Has income and is silling on a large chunk of the oil sands.
3) PGB, will its technology play out in 2006
4) CWPC, lab results and a posible move to the AMEX or another major exchange in the near future. Company could be sitting on enough reserves to support 5 - 6 different production/upgrader projects and taking a 30% - 35% interest in each...UTS times six.
5) BlackRock Ventures, will they go the same way as Deer Creek Energy???
All in MHO.
If they file for the upgrader this year which is most likely then this stock should make a strong move. There is a difference between saying you are going to construct an upgrader and doing the filing. I do know that Petro-Canada has several dozen engineers working on this project and it has been given a "Fast-Track" status. There is aslo lease 14 to consider and the recent oil sands lease acq they have done. Seems to me that the lease acq are in an effort to shore up ap 350,000 to 500,000 bbl/b mine/SAGD/upgrader complex. I picked up 10,000 at 4.45 CND and added another 10,000 this week as well as picking up an additional 10,000 of CLL and 5,000 of CWPC. There is another small player under DWOG that made a move this week. Has operations in the Peace River area. Funny the former CFO UTS is working for their farm-in partner on the project SRGG. All is IMHO.
Hmmm,
I guess he did not need a drill rig for core samples for phase XXXVII if he just walked around a bit. My investment here was less than a dinner out. It seemed like I could miss a happy meal or 9.5 happy meals for Walter.
OK here is my tax pick
TNOG
Some times they pile in on Friday, this is esp true of small companys in the oil sector due to the fact that things do not take a weekend in the drilling sector or mining for that matter. This is just a flux that will happen from time to time until numbers are posted, once drilling begins in the rockies then there will be major piling in.
I have to clarify things. I was wrong earlier when I said they have a rig. What they have is potentially better. The three companies they want to acquire are service companies that do not own a rig but have the connections to get a rig on short notice. I now think that there are two acquisitions left. 1) A single or two rig deal to go with the service companies. 2) An unconventional oil lease in Texas of a sizeable reserve status but only economical at $30 per barrel. I think today’s news was great.
I would agree with you in whole except for the fact that I think there will be one more land deal and it most likely will be in Texas and unconvent in nature but related to oil production.
It is not the acquisition of the rig that will drive the price. It is what they will do with the rig. Other issue is what are they going to give up in exchange for these companies? Up side is that rigs are hard to come by and if you order a new one it could take 12 – 24 months and then you have to staff it. Usually company’s stock prices sink on the news of an acquisition.
Second issue;
I think PBLS has painted a pretty good picture of what they are going to do. Read between the lines. THEY bought leases. THEY bought a rig. THEY Bought service companies. Add these together and connect the dots. It is not the 1.9 million in revenue these assets will add. It is the resources that are locked underground that these assets will unlock and that is the POINT.
Personally I like what they are doing and this purchase has convinced me to increase my holdings. These people have cash flow to support drilling activities and they have people with drilling backgrounds.
PS
The drilling company is able to drill directionally. That increases their capabilities. NO waiting on drill rig availability.
I think we are going to Wyoming this year. Just one good strike there and all over but the laughing.
http://biz.yahoo.com/iw/060329/0115083.html
Where you doing Tequela shots one night and the cat paid for it...???
I am already a mod-a-rator when it comes to employees, thanks anyway. I understand what you are saying about existing business units but do you think they took those leases without the idea of drilling them? Domestic oil production is one of the hotest areas next to Canadian oil sands leases these days. For domestic production, WY, UT, NV are drawing the most drillers.
Funny thing is, those wells are what will drive this company into the dollars. When you hit the dollars then you hit the bigger trading markets. See what is happening to other companies that are in possition to drill and their pps. Nevada is thought to have anticline systems. Leases are going for 1,000 per acre there. Oil production companies are the darling of the street these days.
PS
If you really think Paul does not read these boards then I think some here may be high on some thing. It is priceless for management to know what investors think outside the happy-ass calls they get. Boards are real time feed back for very small companies.
I understand that, but use the KY income to drill the others. The high majority of the reserves PBLS has is located in WY & NV. Dry holes suck, but the pay-off and impact on pps is way higher. Las Vegas is the fastest growing area in the country and Holly Corp in UT is hungry as well. In no way am I saying to forget about the existing ops there, just use the money for the bigger pay-off. Do you know what PBLS would look like if it had 3000 - 5000 BBL/d of production???
Just want to look at locations in relationship to those companies that have already hit and those that are getting ready to drill. Inferance: 28 BBL/d VS. 800 - 2000 BBL/d wells. ie... 1 well at 800 BBL/d = 28.57 average KY wells. See PDP on the canadian. was at 1.60 after a small 6 - 10 development drill program on a South American Prop. now over 11.00 due to 3000 BBL on line with a promised 10000 BBL/d by end of 2006. Like I said, I am more interested in WY & NV than KY.
I agree with this. Drilling is never easy and NEVER promises anything. If you are nervous with this investment then buy a bond.
PS
KY drilling is small in relationship to WY or NV. Does anyone know where their lands are in relationship to TRI Valley, Wolverine Gas & Oil, Eden Energy??? Give me this info and I can compile info with relation to the trend. If I an not mistaken Wolverine is at the UT/NV border and they have 150,000 BBL/month and are new to the area. One of their wells is pumping over 3,000 BBL/day. Now do you still think about a few wells in KY??????????????
The hills project is a good future driver, it takes out a whole chain of processes when producing styrene. My company and co-workers hold over 40,000 shares we picked up at .90 - 1.31 I had 5,000 in at .110 and out at 5.25. I plan to rebuild the possition tward the end of the year when they are more defined. I will most likely miss a doubling but I found a few others DWOG, EDNE.
Well this is a pretty picture. Infighting is never good. Let us face the facts. There are several divisions, several new acquisitions and I bet not all of them are on the same reporting schedule (Jan 1 to Dec 31) and there are issues of inter division compensation and more issues after that. It just makes things more difficult and it will take longer. Believe me, even at 2.3 cents, I have a new car’s worth of money tied up in it. From what I can gather it will either languish or I would have to hit the double 00 green on the wheel in Las Vegas to match what will be the result. This may be a green tree hugging statement but, we would be better off doing our own DD and sharing the results that us crying about no info, timing, withholding of valued info, what is the plot etc… You don’t want to loose your money, then go for XOM or hedge in 2 double or nothing stocks as well. Ask yourself; did I come to PBLS at this point and time to earn an average return or did I pick it to make a financial difference in my life? Feel lucky, well do you Punk? In perspective, I have my bet on the table, I will win or loose. Black or white, no in between. Would love to share info and here is where my money goes into my mouth. eweatherly@houston.rr.com lets share.
I think it is a good thing. Not to be an ass, but there website does look like a grade school project and the logo needs to be redone. Put that together with posting some real numbers and some more agressive marketing and you will have something. It will not do much good to put it all together and have the website put a sublime message to the investor.
Many companys in the phase of developing a project hit a point where they are spending more each year before they make a profit, it is bell shaped in nature. If you understand what CanWest is doing and not just FireBag East then things become clear. This is a long haul stock. See what happened to UTS over the last 1.5 years and you will get a view of what CanWest is doing to the tune of 15.79 times over in the next 25 years to say nothing of Eagles Nest or the Nova Project. the stock jumped because Canwest said to the public what many of us have known all along. FIREBAG EAST: 5 - 6 upgraders producing 500,000 - 600,000 BBL/d each and CanWest owning 30% to 35% percent of each. See the price of Canadian Oil Sands Trust. They own 39.9% of the Syncrude project producing 220,000 to 250,000 BBL/d of synthetic crude. The trade around $160 CND. Take $160 x 2 = 500,000 BBL/d x 6 projects. This is only FIREBAG EAST. Four of us and the corporation I work for took this stock at between .90 to 1.31 per share. To the tue of several 10's of thousands of shares. We have been researching the oil sands patch since 1999.