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.
SA, I am really enjoying the new STIs and I look forward to learning more. Could you take a look at AMEPs chart? Do you think it is preparing for the third leg? Wm%R moving up nice, with an RSI (2) at 70.43. AMEP has a stockholders meeting on March 13th.
Just giving you a difficult time, Oil! Actually I wouldn't be here if I didn't like the chart. The weekly chart looks very bullish, so I'm not sweating the daily down turn at this point. GLTY
Oil, what do you see in the chart that is looking up? RSI is dropping, Wm % R is dropping, Aroon Up is dropping, MACD is headed down, AdX +D1 is headed down...
Thanks, Trade. I'll review BMiles past posts. Oh, yes, because of the name similarity, I should have noted that the Maverick in the attached article is not the same company we are invested in. I referred to this article simply to highlight the rental cost of rigs.
A question was asked earlier in the day by Laser Sailor in regard to whether or not Maverick's drilling rigs are owned or rented. From my review of the information available, I haven't been able to find the answer. Does anyone have a listing of equipment owned by the company? From what I have read, rental of drilling rigs can cost several thousand per day -- "each rig can generate more than $6.5 million per year in revenue" -- see the article attached:
DALLAS-(Business Wire)-March 2, 2007 - Maverick Oil and Gas, Inc. (OTCBB:MVOG) today announced that it has signed a Purchase and Sale Agreement for the sale of its interest in Barnett Shale properties for $22.5 million. These properties are located in Wise County, Texas.
Range has recently expanded its Barnett Shale acreage position by almost 10,000 acres to a total of 73,000 gross (64,000 net) acres. More than 90% of the Barnett Shale leasehold is located in the core and expanding core portions of the play. One of the recently drilled wells was placed on production two weeks ago and is now producing in excess of 12 Mmcfe per day.
The Barnett Shale field, which covers 18 counties stretching from Cooke County in the north to Bosque County to the south, has more than doubled its production in the last three years and now is the largest gas field in Texas and second only to the San Juan Basin of New Mexico among U.S. fields.
At current contracted day- rates, each rig can generate more than $6.5 million per year in revenue.
Drilling in the Barnett Shale has continued unabated this year even though natural gas prices have been dropping. The number of working rigs in the Barnett Shale stood at 167 last week, up from 109 a year earlier. The Barnett Shale field is defined by the Railroad Commission to include Bosque, Clay, Cooke, Denton, Ellis, Erath, Hill, Hood, Jack, Johnson, Montague, Palo Pinto, Parker, Somervell, Tarrant and Wise counties.
I agree the fundamentals look good here and I hope to substantially increase my position in the coming weeks. A heads up: watch AMEP in the coming weeks. It'll be getting a lot of attention in the next few weeks. They have many months of back-logged PRs that should be released following the shareholders meeting on March 13th. GLTY
AMEP, FMNJ and MKGP
Tom, I look for both MKGP and AMEP to have a great week ahead. Interestingly, Ken Goodrich highlighted these two as well. GLTA
James, thank you for your note. Hoping to add CALVF next week, along with a few others. GLTY
Here's my three: AMEP, FMNJ and MYNG.
Contractor and GEH, have either of you received any indication from CB about whether he intends to PR anything in the future?
Partenkirchen, I appreciate your comments on ALRY, NVMG and HMGP. Have you taken a look at AMEP?
Is there news with ALRY? Looks like the bottom is in, but it would be nice to see the +D1 and ADX move up together, along with a sronger move up by the Wm %R.
For sure! However, because your setups have worked so well, we're naming our contribution to their education the "Kenny G Scholarship".
I'd be interested in learning more about the road you have taken to get where you are presently at (in regard to investment approach, etc.) and the history of how you developed the various setups. Have you written about this anywhere? Best. WB
Thanks, Ken. Sounds like your Bull Raid is a great tool. I am continually amazed at how well your Magic Box and other set-ups work.
From:
http://www.investorshub.com/boards/board.asp?board_id=1616
Posted by: kgoodrich
In reply to: wlbne who wrote msg# 26138 Date:2/24/2007 7:56:36 AM
Post #of 26152
Morning wlbne
AMEP confirmed its Magic Box and went into Bull Raid around 1 o'clock which was a good hour before the move. Nice A+ rated Gold Rush stock. Still looking bullish, me thinks. I also noticed it moved on Count Three.
--------------------------------------------------------------------------------
#board-1616 & #board-3424 Seasonals rock.
Ken, not sure if AMEP's chart meets the strict criteria for a Magic Box (because it wasn't too close to the lower BB), but it's looking bullish, don't you think? They have a shareholders meeting on March 13th, so it should be an interesting few weeks ahead.
4Godnwv, Come mid-March with th BDC behind them and the release of all the backed-up production news your AMEP chart will resemble, if not superseed, HMGPs chart IMO.
Ken, did the action on 2/22 alter your thoughts on where SFNN is going? Does it have enough to crack .02? Thanks for your thoughts.
Thanks for your review and comments. Best.
Low, would you also look at SFNN and give your thoughts? TA indicators look interesting. Thanks much.
Low, enjoyed the fun-filled-family book cover. Wish you the best with the writing project.
A new nomination: ECU.V
What do you make of ACGI? It has had quite a run. Does it look like it could continue up from here? Best.
Thanks very much. Ken, do you have a rule of thumb about how many days you you hold out for a confirmation? For example, if it comes a week or more after the Magic Box criteria is met, do you make sure you have the Knights Crossing before taking action?
Ken, has ECU.V met Day 1 and Day 2 of your Magic Box setup? It looks to be completing a high level correction with very little resistance above. Thanks, in advance, for your thoughts.
Your setups have been a great learning tool. They have "turned the light on for me". I can't wait to see what you will be adding. Thanks so much for your generosity.
Thank you, Ken. It'll be fund to see how this plays out in the coming days.
Ken, what is your take on CALVF? Do you see any signs of a trend reversal? Thanks!
mom2jbk, you were recommended as a moderator on Yahoo's new AMEP site.
Gandalf, you have the patience of Job! While I admire and have confidence in CBs work ethic and oil patch skills, his communication skills have much to be desired.
Chart is showing a "Bull" Pennant -- like taking a short break to prepare for the next part of the climb, which could take place within the next few days, IMO.
Excellent post, mom2jbk. The chart technicals -- both short and longer term -- look good, but the PRs sure don't tell the story of where we are at. As a result, the volume remains weak and new eyes have a hard time sorting things out. A PR now on the recent SEC release and upcoming shareholder meeting would help create an orderly base development for the release of backed-up announcements and production numbers next month.
Stockslacker, I don't know of a better risk/reward play than AMEP. Once the proxy vote is completed in mid-March, and the backed-up PRs on oil and natural gas well productions begin to flow, AMEP is going to attract a lot of attention. In the meantime, anyone not yet acquainted with AMEP, would be well-served to spend a few hours doing some DD. The last two Golden Crosses were multi-baggers and this has all the looks of at least a five bagger from here by June 2007.
Thanks, TDNW.
Is the bottom (finally) in? Thoughts anyone?
Good call on PYPR, 4God.
Thanks, Ken. I appreciate your work and will check into what membership entails.
Ken, would you describe what a "rolling thunder" setup is? Thanks.