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b/a .005/.0055 me thinks they are tight on shares.
Bang the ask, I placed two orders at 100k and they cut them up.
Not to many people understand the incredible bull market that is going on in uranium. The party hasn't really got started. This one is trading like it is being accumulated. I'm buying every opportunity there's a pullback. Good luck.
She's looking real good.
Excellent comments. I really like the potential this one has.
It sure is trading as if the float is drying up at these lower prices. It was a great day today.
Thanks FW. I don't have time right now but will try it out later on this evening. Anyone care to try?
http://images.google.com/images?q=Googleearth&hl=en
Thanks for the update. They must really forsee some real positive cashflow to bite this one off. They seem to have a plan. Is gaming next?
Great commentary DD.
"The lockup agreements prevent each officer and director from selling any amount of their shares of NAEG stock for a period of 18 months. Presently, these shareholders combined own an aggregate of 895,000,000 shares of Native American Energy Group stock, representing approximately 73.1% of the current issued and outstanding shares."
Hmm, 18 months, I'd hate to be short. I wonder what the revenue stream might look like then? Not only does it appear that they might be able to manage the share structure, it appears that they might also know how to manage expectations which would mean, if you decide to go short, good luck.
Thanks for the updates. Here's a pretty good read to get a view of a much larger pricture. Find you some pretty good oil, Ng, Uranium, Gold, Silver etc positions and you will do quite well years from now.
http://www.financialsense.com/transcriptions/2006/0930simmons.html
"Now granted they dont fuck with the outstanding (which seems to be a problem with many of these OTC companies) we might see some value to this place."
I like your style athlon. Keep it up. Also, I think you're being way to conservative but I'll play along:)
Thanks river and oilbaron. If we are in as investors then we can prudently and curteously apply pressure to make sure we as stockholders aren't crapped on. This Shell deal is HUGE and suggests that these Managers can seal the deal. Manage the float responsibly and the larger players will come and send the specs. on their merry way to feast on other scraps.
I agree. If these boys manage the float in any kind of responsible way, then the sky's the limit. Managing the float responsibly means diluting for purposes of buying equipment, bringing on financial partners etc..Once these decisions start to pay back then start reducing the float. Keep it up boys, this one could be a winner.
Yes I did and will listen again later on tonight. Thanks for providing the User Name and Password. It really sounds like these guys are looking for long term investors to match their personal financial committment. They're certainly in the right sector at the right time, and who knows, maybe we are too. Got to go, will be back online later on this evening.
otriplg, excellent research, this one is a long term hold. Once the FRN's continue to roll on in, the share structure will take care of itself. Once again, great research.
Thanks otriplg. Great interview.
FYI.
http://www.nativeamericanenergy.com/advisoryteam.htm
Advisory Team - Geologists & Engineers
Mark See
Philip E. Lewis, P.E.
John H. Hoak
Joseph M. McPhie, P.E.
Ronald E. Oligney
Robert H. Trent, Ph.D., P.E.
Michael J. Economides
Steven J. Sandoval
Check this out.
http://www.chee.uh.edu/faculty/economides/
BMiles, thanks for your contributions. I own both VTYE and EDEX.
"Deep pocket buyers won't be concerned with the spread, just the fact they can still buy under .20 should be peaking some interest.IMO"
Institutional money won't be able to buy this until it reaches $5+. We have a long way to go before this stock appears on "Deep pocket buyers" radar.
Been preparing since 3rd quarter of 2000. Thanks for the reco. though. If EDEX "proves" up the Mesa field, we literally could be on the ground floor analagous to when Mitchell Energy proved up the Barnett Shale. This could be EXTREMELY HUGE! Good luck and roll with the wildcatters.
Keep accumulating. A new paradigm of investment thought is being ushered in.
http://news.independent.co.uk/business/news/article1220882.ece
Pipeline crisis 'could halve flow of oil'
Snip.
By Saeed Shah
Published: 22 August 2006
The price of crude oil could hit $300 (£158) a barrel if BP's pipeline corrosion crisis in Alaska turns out to be an endemic problem for the industry, according to the leading oil industry analyst Matthew Simmons.
Mr Simmons, a US-based industry commentator and financier, said BP's discovery of unexpectedly severe corrosion in its pipelines at Prudhoe Bay, Alaska, could just be the tip of the iceberg. He described the sudden emergence of the issue as the "Pearl Harbour Day" for energy.
He said that if drastic remedial work was required to fix or rebuild pipelines across the world, the flow of crude oil could halve, sending prices soaring.
Mr Simmons, who shot to prominence by arguing that the world's biggest producer, Saudi Arabia, was running out of oil, said: "The industry cut too many corners when prices were low. For 25 years, there was not a proper maintenance programme. We backed ourselves into a system - rigs, pipelines and refineries - that rusted away."
He said the oil industry was now confronted with a dual problem: the view that oil supply has "peaked" and, now, the issue of corrosion of infrastructure.
"The anecdotal evidence is so widespread that it is undeniable. Until we had something as stunning as Prudhoe Bay, the industry was able to say that incidents were one-offs or that these allegations came from disgruntled employees," Mr Simmons said.
Aside from the BTC pipeline from the Caspian Sea, recently completed by BP, most of the major oil pipelines in the world were built in the 1970s or earlier, including those in Alaska. Replacing these would cost billions. The Trans Alaska Pipeline alone would cost some $30bn to rebuild. Last month Russia was forced to shut its massive Druzhba pipeline, which is more than 40 years old, because of a leak.
Mr Simmons, who founded the Simmons and Company oil industry finance house, said he believed that Saudi Arabia has an "endemic" corrosion problem. BP had for years dismissed allegations of poor maintenance of its Alaska facilities by former and existing employees.
Mr Simmons said: "If it turns out that these whistleblowers were accurate, then somebody ought to go to jail."
BP has had to shut half its production at Prudhoe Bay after two leaks were discovered at small feeder pipelines, with an initial incident in March spilling some 5,000 barrels of oil, while a second leak became apparent this month. A prolonged shutdown at Prudhoe Bay, North America's largest oilfield, is likely to cause serious fuel shortages on America's West Coast. BP has already said that it will replace 16 miles of pipeline.
BP yesterday denied new allegations that surfaced, which claimed that the company manipulated data to avoid replacing pipelines at Prudhoe Bay.
Robert Wine, a BP spokesman in London, said: "We deny the allegations of changing data and we continue to work with the EPA [Environmental Protection Agency] and other regulators."
He said until the problem emerged in March, BP believed its maintenance regime in Alaska was "appropriate" and the company continued to believe its maintenance elsewhere was appropriate.
Mr Wine added: "We have investigated all claims [from whistleblowers] where enough specific information was provided."
BP could face criminal charges over the Alaska leaks. It is under separate regulatory investigation over a fatal explosion at its giant oil refinery in Texas last year, where it is also alleged that poor maintenance was to blame. BP's chief executive, Lord Browne of Madingley, could be forced by a Texas court to give sworn testimony on how much he knew about the state of the refinery."
End Snip.
This is how I see it. Once EDEX breaks out above its HOY, then it's off to the races. I still think $1 or $2 over the next year is being a bit conservative, especially, if the Mesa play is the real deal. Good luck all.
FYI.
Black Blade (8/11/06; 00:51:00MT - usagold.com msg#: 146560)
Oil Producers and Refiners In Race To Charter tankers to Bring Tight Oil Supply To West Coast
http://p100.ezboard.com/fpeakoilpetroleumandpreciousmetalsfrm10.showMessage?topicID=7148.topic
BP readies oil tanker spree after Alaska outage
Snippit:
LONDON (Reuters) - BP is scrambling to move oil from across the world to make up for lost production at its Prodhoe Bay oilfield in Alaska, shipping industry sources and brokers said on Wednesday. On Tuesday half of the field's output, some 200,000 barrels per day, was shut-in. London Brent crude oil prices hit a record on Tuesday on news of the outage. BP's enquiries for fixtures ranged from Very Large Crude Carriers (VLCC) to suezmaxes and smaller panamax ships, from as diverse places as the Middle East Gulf, West Africa, the Mediterranean and the Caribbean.
Black Blade: There is simply not enough intermediate grade or light sweet crude to make up the loss of 200,000+ bbl/day of Prudhoe Bay oil (likely to be much more). Nearly 346 million bbls travel from Valdez, Alaska every year (Nearly 950,000 bbl/day) - that's 17% of domestic US oil production. Many here know I have already discussed the lack of refining capacity over the years.
Don't be surprised to see producers and refiners to hire Tanker fleets of both "dirty" and "cleans" to avoid "force majuere" as what happened to ConocoPhillips (COP) yesterday. Other companies in trouble for meeting delivery of intermediate or better quality crude are Exxon-Mobil, Shell, and to a small degree Chevron (among others). Meanwhile the northern refiners in Benica and Pittsburg (SF Bay area) were never upgraded to handle lower crude grades due to the enviromentalists in the state that opposed the expansion and upgrade of local refineries.
$4-$5/gallon unleaded by September or sooner would not surprise me at all. But what the heck - that's my job. In life there are winners and there are losers. I have been quite fortunate and much has been to to the scarcity and rising cost of energy. Today I saw unleaded zoom up to $2.73/gallon for unleaded. "Interesting Times"! Hang on tight to your Gold and Silver. This story will get even more "interesting" and has a long way to go. KA CHING!!!
- Black Blade
Time is running out. Keep accumulating. Black Blade is a high priced geologist who has brought many a well in.
Black Blade (8/10/06; 19:21:42MT - usagold.com msg#: 146550)
Re: Mr. Goldfinger, all
I seriously doubt it. He calls Usama and Islamic terrorists "Islamic Facists" and yet hold hands with the King of Saudi and kisses him on the cheek. LMAO
- Black Blade
A side note, some floor chatter is that Morgan Stanley among a few other investment houses and banks went heavy into long positions on precious metals and petroleum thereby dropping these defensive stocks like lead balloons on news that normally would kick off strong rallies. Note that ConocoPhillips (NYSE:COP) on Thursday declared "force majeure" on Alaska oil shipments, while BP just announced on CNBC that they shutting down the entire Prudhoe Field after an initial inspection. Got that! "initial inspection"!!! Then XOM and Shell are rumored to announce that they too will declare "force majeure" on all west coast markets.
Northern California refineries are scared and are certain to face lawsuits from state government and "citizen groups" (aka "ambulance chasing lawyers") as they can only process intermediate grade oil (similar to what they did to the NatGas companies in 2003). The only other sources of intermediate or better oil are in Africa and North Sea. That means fleets of small Panamax tankers will be running wild to scrounge any and all intermediate and light sweet crude oil. The Panama Canal is backlogged 3-4 days on both ends. This is gonna be a whole lotta fun. the smart investor will take advantage and of course physical gold went on sale this morning thanks to some "interesting" morons in high-rise Wall Street offices. Might as well take advantage and grab some while on sale.
I agree. I know about not having that patience thing, grrr! I'm looking to bring other investors in on this one, still doing more DD. Good luck all. Here's a pretty good site if you or anyone else is interested.
http://www.shortsqueeze.com/index.php?symbol=qcom
Keep accumulating. Don't fall for the non-thinking, heavily edited, canned BS that those pretty CNCB parrots with nice hair regurgitate day in and day out as some sort of useful information. OPEC is collapsing and a new order is arising. The inventories of oil we have in our strategic reserves is heavy crude and of no real use to us consumers. It's a long read but one well worth anyone's time who is really interested in the future of their world.
http://www.energybulletin.net/18904.html
A New Oil Regime in the Middle East?
There is considerable danger that the smoke and fire from these three geographic flashpoints—Iraq, Iran, and Lebanon—could converge in a larger regional conflagration. In light of all this potential for apocalyptic mayhem, a discussion of the oil business may seem almost frivolous. But it is important to remember that, historically, the drawing of borders in the Middle East; the establishment of British, French, and later US-backed puppet governments in these faux nations; and the rise of a radical Islamic fundamentalist movement to challenge the Western-backed regimes, have all been fueled by the wealth produced by oil, and by the need for oil on the part of importing countries.
For decades there was a petroleum status quo of sorts in the Middle East: the capacity for production exceeded demand, and OPEC worked to restrain exports in order to keep prices from collapsing; meanwhile big producers like Saudi Arabia served as the world’s petroleum bankers, maintaining the solvency of the system. On only one occasion—the embargo of 1973-74—did the swing producers withhold needed oil flows for political reasons, or cause prices to reach levels unacceptable to consumers (the other major post-1970 oil shocks, due to wars or revolutions, were beyond OPEC’s control).
Now the status quo is crumbling—not so much for political reasons (though those are certainly imaginable, given the situations outlined above), but for reasons of geology.
Questions about the real size of Kuwait’s oil reserves have emerged in the Kuwaiti National Assembly, leading the opposition party to call for production cuts. Remarkably, Kuwait appears to be groping toward implementation of the Oil Depletion Protocol, without ever having heard of it. However, from the standpoint of nations that want to keep the oil flowing so the global industrial party can continue, this is bad news.
Even worse news, potentially, comes from Saudi Arabia, where oil flows have shrunk by some 400,000 barrels per day over the past few months, despite astronomic prices. No one knows for sure what is going on. The Saudis themselves say the production cuts are due to lack of demand, but this hardly seems plausible, unless the kingdom is only able to deliver unwanted heavy, sour crude to market—but even in that case, one would expect flows to increase, with a price discount factored in for resource quality.
At the same time, the Saudis are hiring just about every spare drilling rig in the world, resulting in a dramatically falling rig count in the Gulf of Mexico—a place that would otherwise be seeing an increasing count, given the fact that Mexico’s giant Cantarell field is in now in steep decline, with dire implications for the nation’s economy.
Matthew Simmons (Twilight in the Desert) has been insisting for the past few years that Saudi production is close to peak and that Ghawar, the world’s biggest field, may be in decline. Now many others are speculating that this is the real reason for the falling production figures.
What happens next? It depends on the real condition of Ghawar. Perhaps a heroic drilling campaign could result in a temporary bloom in production, lasting perhaps three years, followed by a swift, terminal collapse. On the other hand, it is possible that the field has been so thoroughly exploited already that we are seeing the irreversible, rapid decline. At the ASPO conference a well-connected industry insider who wishes not to be directly quoted told me that his own sources inside Saudi Arabia insist that production from Ghawar is now down to less than three million barrels per day, and that the Saudis are maintaining total production at only slowly dwindling levels by producing other fields at maximum rates. This, if true, would be a bombshell: most estimates give production from Ghawar at 5.5 Mb/d.
Wait until you wake up and figure out what Wall Street in general is all about. I could careless whether there is any thing behind this stock symbol that represents an ongoing concern or not, it is what it is, however, I don't need some wannabe like yourself showing me the light.
You're a lightweight. Anyone who seriously understands this game at a much higher level knows this crap has been going on a very long time. It's comming to an end. This is why ALL markets are becoming extremely volatile.
http://www.gata.org/node/4276
Keep accumulating. Yeah, let's continue to explore where our supply source is extremely succeptable to hurricanes, terrorist attack etc...
http://www.washingtonpost.com/wp-dyn/content/article/2006/08/02/AR2006080200242.html
Seriously, since point-in-click technology has been enshrined and become the dominant driving force in trading any market, who uses a phone to call in an order? Talk about sending a SIGNAL. Good luck.
Understand the game. It's always been in their favor once they find themselves on the wrong side of the trade. It happens at a much higher level. Enjoy the read and good luck.
http://www.gold-eagle.com/editorials_04/laborde012704.html
H.L. Hunt's Boys and the Circle K Cowboys
Snip.
"Finally on January 7th of 1980 the COMEX changed their rules to only allow 10 million/oz of contracts per trader and that all contracts over that amount must be liquidated before February 18th. . The CFTC promptly backed up the ruling. On January 17th silver hit $50/oz, Bunker had continued to buy. At that point in time the Hunt's silver position was worth $4.5 billion dollars bringing their profits in silver to $3.5 billion dollars. On January 21st the COMEX announced that it was suspending trading in silver. They would only accept liquidation orders. Silver dropped $10/oz and stayed around $39/oz until the end of January. Scrap silver, old silver coin collections and silverware came into the market - about 22 million oz in all. In early February the Hunt group took delivery of another 26 million oz from Chicago. The Hunt's North Sea oil through Placid Oil was coming on line and generating $200 million /year from that venture alone. There was talk of a takeover of Texaco Oil. Bunker was also talking to other Middle Eastern rulers about putting together another silver buying group.
By March 14th silver was down to $21/oz. Volker had raised interest rates and the dollar had firmed up (this also made borrowing to speculate on silver more expensive). International Metals still held 60 million oz of futures contracts. Their margin calls on those contracts amounted to $10 million dollars a day! Bunker still believed the price would go back up if only he could promote more buying. He scrambled around Europe looking for a buying partner but the more the price dropped the harder it was to borrow more money against his silver holdings to buy even more silver to hold up the price. Finally on March 25th of 1980 the Hunt brothers ran out of cash. Bunker called Herbert and simply said, "Shut it down". Herbert promptly told his broker the following morning that they could not meet their $135 million dollar margin call that day."
"Plus, his secretary sounds like a Doll!!!"
Hell! Makes me want to call:) From my standpoint, although a little disappointed, it couldn't have worked out better. Now I can scoop them up under a dime:) Longs buy them now because six months from now as geo-political events really get out of control, today's price will be a STEAL. good luck all.
Thanks for the explanation PrftTkr. I'll keep buying. Good luck all and hang tuff:)
That was a small buy to test what's going on. I DID NOT SELL IT! They're mirroring trades to create a perception. JMHO.
I'm investing in both based on the Mesa project. Hell, what a way to increase your chances of a larger score at fire sale prices. Still working on DD concerning the driller that they will be using for the Mesa proj. Impressive set up. :)
Anything under $1.00 is a steal. Good luck.
OPEC is disintegrating right before our eyes and a new Cartel of sorts is shaping up. Investing in our own energy independence is a MAJOR step in the right direction.
THE ROVING EYE
Russia and Iran lead the new energy game
http://www.atimes.com/atimes/Global_Economy/HG14Dj03.html
These MM's will be tripping over themselves once all hell breaks loose. Keep buying.
ECONOMIC WEAPON OF MASS DESTRUCTION
http://www.financialsense.com/editorials/weiss/2006/0710.html