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Maybe the captain in Toronto has the p2O fleet up and floating....or maybe big Al has the Fla sites ready to go....
You gotta figure that Porto's last pre-salt well was, what they believed based on their 3D and other research, their best shot at hitting something commercial.
They have lots of land for sure, but is any of it located above gas and oil? And based on their history of dusters, who would pay millions to try again?
But a 1/3 of $90k is only $30,000 so all the “medical” shares in a “haircut” of around 1/3. In this case at settlement SPIN bill would collect $20,000 and the other med would prorata split the other $10k.
So if SPIN collects the 20k, how much of that, in your estimation, do they pay out in expenses?
TIA
PEC.V
"We are very pleased with the results of our Lias work program, and the extra wells we drilled have allowed the partnership to collect more data to analyze and interpret," said Mr. Ash. "We and our partners remain very optimistic about what we are seeing in the data thus far."
Ash was optimistic about Alcobaca a few weeks ago too.
Wow, nicely played throughout Rainmaker!
Yup,small pain here...still can't believe I fell for the "mexican casino" line. Again. LOL
Good for a %14.50 gain. I'd have expected more on a 2 $ billion deal.
I read the q
The casino in Mexico is dead. That was the lottery ticket for this company. Panama? Hmmmmmm
The company paid 10k to up revenue by 27k. They have no money and are looking to raise $$ through the sale of its common stock.
Doesn't look to be much in the pipe here imo. Hard to raise coin and keep a decent share structure when you're trading at a penny. Nice to have ideas for acquisitions. better still to have money to fund them.
It may be priced cheap at today's PPS, but YOY revenue is negligible. There's a reason BBRD is way below the radar.
Royal flushout?
Trashing HEB is shooting fish in a barrel. Carter has such a shady past. Lest we forget:
According to a Philip Morris memo, "Dr. Carter's fundamental premise is that Ampligen delivered in cigarette smoke to the smokers would result in a multi-site stimulation of the immune system in the respiratory and cardiovascular system thus protecting the smoker from lung cancer, emphysema, chronic obstructive pulmonary disease and vascular disease. Ampligen could be applied to tobacco in the field (to prevent Tobacco Mosaic Virus infection), to tobacco in the cigarette manufacturing process or to the filter during cigarette manufacturing."
HEB might get Ampligen over the FDA line, but as Sheff has said, it'll be a bumpy ride. Nothing new there- it's been that way with Carter and Ampligen for decades....
Not quite everybody.
The contest format has been very organic since I've participated, with rule changes occuring at the end of each one. PPS and volume minimums have come down to levels that I personally don't trade at. But then again, I short stocks and the contest doesn't support that. BFD.
The spirit of the contest has to be to improve DD and make money in our actual portfolios. If someone really makes shady picks, ie, absurd spreads and voulumes, it's pretty obvious when one reviews their picks.
I agree that Mickey Mouse style picking for the sake of winning a contest is pretty silly.
The only thing sillier is getting uptight about it.
Actually I'm a teacher. History. Try reading it it sometime- most insightful as to what humans do......not so concerned with the morality of it....
by the way, hyperbolic response, ie, you must work for Haliburton,to a point of view with which you disagree is a very weak form of argument.
So you're saying illegaly invading and creating war on sovereign nations is ok because it was in our own self interest? Murdering tens of thousands of innocent men, women, and children is ok for the same reasons. Wow... what planet do you come from?
My post never uses the word "okay" or any other term that signifies approval or judgement of US foreign policy abroad. To answer your question, I come from planet Earth, where in the 20th century approximately 160 million people died in wars. Many of these people were innocent civilians, and the carnage was shared amongst governments with a wide range of political, economic and religious ideologies.
While their ideologies may have been different, they all share a common driving force: self-interest. Ignorance of this simple fact leads me to ask you a similar question: what planet do you think you live on?
By the way, you neglected to answer my question, so I'll pose it again:
I challenge you to name me 3 governments in the course of history that have been driven by anything but their own self-interest.
Don't confuse 2 very seperate issues:
1. Freedom of expression
2. National popularity around the globe
As for #1, I grew up with it and I'm all for it. I invite and encourage you to say whatever the eff you please about me, my god and my dog. I can assure you that for your comments, I will not kill you, kill your diplomats or trash your property.
As for #2, I challenge you to name me 3 governments in the course of history that have been driven by anything but their own self-interest. The thought that the US government is bound to some higher moral code is the stuff of 3rd grade social studies classes. That ain't how it works....never has been...
wow, remember when that guy ws good.....back in the bucs days when he was the only thing in their line up who could hit the ball over 350 feet.....except the occasional Brian Giles blind squirrel swing...
Looking for the A's to ride the Crisper all the way.
Wow, what a finish!! You had a mighty target to aim for when POE and MMT put CL up by double digits.
Congrats yet again. Can't wait to see you 22 picks!
PEC.V
New Danny Deadlock piece on Porto hits the front page of Stockhouse this weekend:
http://www.stockhouse.com/Opinion/ticker-trax/Aug/31/High-impact-oil---gas-play-in-Portugal--Stockhouse
It's filled with "ifs" but I guess most .15 companies are.......
PEC.V
Porto Energy Spuds the Alcobaça #1 (ALC-1) Presalt Well with its Joint Venture Partner Galp
Porto Energy Corp. PEC
8/30/2012 5:43:00 PM
Porto Energy Spuds the Alcobaça #1 (ALC-1) Presalt Well with its Joint Venture Partner Galp
THE WOODLANDS, TX, Aug. 30, 2012 /CNW/ - Porto Energy Corp., ("Porto" or the "Company") (TSXV:PEC), a company focused on oil and gas exploration, appraisal and development in Portugal, is pleased to announce that it has commenced the drilling of the Alcobaça #1 ("ALC-1") Presalt well in its Aljubarrota-3 concession onshore Portugal under its joint venture ("JV") with Petróleos de Portugal - Petrogal ("Galp").
The ALC-1 well is the Company's first Presalt well and is expected to be drilled to a total depth of approximately 3,000 meters. Using interpreted 3-D seismic data, the ALC-1 well is targeting a mapped four-way closure approximately 800 meters high to the ALJ-2 well. Drilling and testing is estimated to take between 45 and 55 days to complete at a total anticipated gross well cost, not including completion and hook-up costs, of approximately $7.0 million. Galp is carrying Porto on 50% of the costs associated with the drilling of this well.
"Following the conclusion of our JV with Galp in June 2012, we are excited about the spudding of this Presalt well," said Joseph Ash, President and CEO of Porto. "This Presalt target has an NI51-101 resource best estimate (P50) of 588 BCF gross (294 BCF net) unrisked prospective resources by Netherland, Sewell & Associates, Inc. which makes this an extremely important project for us."
About Porto Energy Corp.
What's your read on the EXEL news?
ZEX
Sold half for a double and will ride the freebies. This has moved up nicely in the past week on big volume and no news. It's still trading near 52 week lows.
CPRX back in at 1.44. The Sept catalyst is still in play.
RNN up big in pre-market on topline phase 2 data for pancreatic cancer
8:50AM Rexahn Pharmaceuticals announced earlier positive top-line Phase IIa data for Archexin in patients with metastatic pancreatic cancer (RNN) 0.47 : Co announced top-line results from a Phase II clinical study of Archexin, its clinical-stage oncology drug candidate. Archexin is being developed as a potential first-in-class inhibitor of the Akt protein kinase in cancer cells. The open label 2-stage study was designed to assess the safety and efficacy of Archexin in combination with gemcitabine. Stage 1 was the dose finding portion and stage 2 was the dose expansion portion using the dose identified in stage 1 to be administered with gemcitabine. The study enrolled 31 subjects aged 18-65 years with metastatic pancreatic cancer at four centers in the United States and five centers in India. The primary endpoint was overall survival following 4 cycles of therapy with a 6-month follow-up. For those evaluable patients according to the protocol, the study demonstrated that treatment with Archexin in combination with gemcitabine provided a median survival of 9.1 months compared to the historical survival data of 5.65 months for standard single agent gemcitabine therapy. The most frequently reported adverse events were constipation, nausea, abdominal pain, and pyrexia, regardless of relatedness.
Yup. Life was much so better when Bush and Cheney were calling the shots.
Great question. And more importantly, what kind of merchant capital company doesn't have a website?
Just speculation here:
1. Porto needs money and nobody's answering calls. So they cut this Black Spruce oufit 1 million shares at today's PPS to find them some financing.
2. Porto knows something about the 11 holes drilled thus far and is positioning themselves for monetizing what they think they have found in the ground
3. Porto's too busy planning for the masive discovery they sense they have and have hired Black Spruce to sell a pre-packaged farm-out agreement
4. Black Spruce Merchant Capital is Ivan Boesky's new venture capital outfit
I'll say one thing: the news of this agreement/arrangement between Porto and Black Spruce sure crossed a lot of wires. My Google search of Black Spruce Merchant Capital stopped after 7 pages. Every web hit was a link to this story.
PEC.V
Under the 2012 work program, the company will drill 19 shallow wells testing the Lias and two additional deep wells targeting the Presalt and possibly the Aljubarrota gas discovery. All 19 Lias wells are being undertaken as part of the JV with Sorgenia and RAG, for which they will carry Porto.
That's a lot of chances for some good news.
PEC.v/PNRXF
Used some of my MMT divy cash to buy a modest PEC position between .07 and .075 a few weeks ago. PEC recently partnered funding for a pre-salt well which will spud in late August. Might see a pop on the news of spudding, but with Soros gone shares should be in tighter hands. At .07, this one is priced for failure, and to date, deservedly so. One bit of decent drilling news validates the company's vast holdings, much of which, as you've said, have 3D seismic already in the bank. People expected more by now, but that doesn't mean the goods aren't there.
Used some more divy money to load up a bit of ZEX.V- very similar story to PEC but in a different neck of the woods. Lots of cash raised (better than $20 million still on hand) and options priced wayyyyyyyyyyyy above the current PPS. And lots of dumping by institutional investors to bring it to its current .035. 10 million shares traded today. Could be the beginning of a rise off the mat.
Both are longshots to be sure, but then again, so was MMT not too long ago!!
EXEL
Exelixis expects to close the offerings on or about August 14, 2012, subject to customary closing conditions.
Of course, credability is a major issue with EXEL management these days, but if the offering does indeed close today, I'm looking for a return to normal volume on Wednesday. And a floor in the PPS closer to 4.70 to follow within the next week.
EXEL has been trying to go higher; it opens up and then the dilution shares hit the market and drive the price down. The offering is priced at $4.25 a share, so I doubt it'll drift too close to that number.
EXEL offering priced at $4.25 for the common, convertible priced at $5.31.
http://ih.advfn.com/p.php?pid=nmona&article=53768821&symbol=EXEL
This deal closes (hopefully) on 14 August. The company then has better than 1/2 a billion in cash on its books, looking at FDA approval in late November. That should take care of the cash needs for a while, (but then again, that's what I thought when they had 200 million on hand....)
Now that the swelling in my nuts (and the shrinking of my portfolio) has subsided, I plan to add more EXEL tomorrow.
As Bukowski once said, "it's just business", and to my mind, with the forward looking catalyst and the bundle of cash on hand, the stock is priced to buy.
EXEL- bumped up the POSition at 5.05. Dry powder left for a suite of stank bids down to 4.35. Here's hoping they never fill!!
GLTA
EXEL- so do you plan to hold through this offering?
EXEL getting crushed pre-market- down .53 on better than 100 k traded.
Gonna wait and see where the dust settles in the first 1/2 hour before adding.
NAVB What a bloodbath! Fighting to get back to $3
FOLD sure fits the buy low sell high formula....especially with the PPS paid by Glaxo...and the bottom looks like it might be in as well.
have you seen any projections on the potential revenue stream for FOLD if AMIGAL receives FDA approval? Or is this all about the pipeline and strong AMIGAL data verifies everything to follow?
Maybe a seance......a mine would be the perfect place to summon the spirit of, well, hell, why not shoot the moon and conjure up John D Rockefeller...to attract the really big, old-school money. I understand spirits are multi-lingual, so maybe he could answer some questions in Korean for the local folks as well.
Great idea! And why not do the interview deep in the Sangdong mine with Warren wearing a miner's helmet and swinging a certified John Henry pick axe?
Let the company execute and then PR their achievements. PPS will follow.
Links please to some evidence of IMC dragging their feet.
There's a plan. It's public. It's happening as forecast.
You don't become a billion dollar company without sticking to a tight model of DD.
Looks like the extent of the reporter's DD was the IHUB JBII board!
TLON Lots of insider action on this one over the past 2 years: all selling
http://www.nasdaq.com/symbol/tlon/insider-trades?sortname=OwnType&sorttype=0