Has officially gone private and is no longer reporting
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“We are considering a variety of strategic transactions to fund the coming year’s drilling activities,” Mr. McElwrath said, declining to elaborate.
So, Mike, you're saying there are a variety of options???
FEEC in the NY Times! Once again, the topic is the challenges extracting gas in China, with this piece specifically showing FEEC in Shouyang.
http://www.nytimes.com/2014/08/22/business/energy-environment/chinas-effort-to-produce-natural-gas-falls-far-short.html?partner=socialflow&smid=tw-nytimesbusiness&_r=0
The Chinese government has negotiated with mine operators and villages here in Shouyang, 220 miles southwest of Beijing, to authorize a large coal bed methane project, led by Far East Energy Corporation, based in Houston. Michael R. McElwrath, chief executive of Far East Energy, said he believed the project would improve coal field safety by removing explosive gas from subterranean seams.
But the Shouyang coal field is unusual within China because the coal is fairly permeable, allowing gas to flow underground. If there are no more discoveries of permeable coal, Mr. McElwrath said, “we will have a nice little project but the industry will not take off.”
Far East Energy faces its own issues. In June, the company announced that it had shut a quarter of its 160 wells for various reasons, such as gummy gels or a lack of gas-gathering pipelines; it plans to restart most of those wells later. “We are considering a variety of strategic transactions to fund the coming year’s drilling activities,” Mr. McElwrath said, declining to elaborate.
Crews have been working here over the last several years, laboring in a countryside of yellow dirt so soft that even small streams cut steep-flanked gorges 50 feet deep or more. Some of the locally rented equipment uses designs seldom seen in the United States since World War II, an indication that China still lags in drilling rig technology. At each location, workers struggle with the many idiosyncrasies.
“In the United States, it comes to the surface easier,” said Robert Hockert, a longtime Wyoming shale gas and coal bed methane drilling manager who is now the China country manager for Far East Energy. “Here, you’ve got to work at it.”
SEAS is my new GIMO, it would appear.
Guess I shouldn't have sold all those for .18 & .28...geesh.
$JRJC- Bingo, one bash tweet from Citron and all the twitter pumpers go silent while stock drops.
Edit: I'm sure they all nailed the top and went short, lol.
I like MHK and WWAV for puts but HFC has weeklies which is nice. Could work out well on those with market so extended here.
$JRJC multiple groups pushing it...and they'll all dump/go short at once
thank you, good to see this board hopping again
$CBI- very nice & met your initial target in 10 days
wow, back in under 94 today...
China to Raise Nonresidential Natural-Gas Prices
http://www.nasdaq.com/article/china-to-raise-nonresidential-naturalgas-prices-20140812-00626
"Those with higher exposures to direct distribution, commercial and industrial customers--rather than residential users--will see the greatest upside as industrial prices are usually raised faster than residential prices," she said.
The NDRC said China's natural-gas consumption has been growing at an average rate of 15% a year and that domestic production isn't enough to meet demand. As a result, natural-gas imports--which are more expensive--have risen each year, adding to pressure to accelerate domestic pricing reform, it said. China imported 53 billion cubic meters of natural gas in 2013, or about 30% of its total needs, according to the NDRC.
EIA: China to increase natural gas consumption, investment
http://www.ogj.com/articles/2014/08/eia-china-to-increase-natural-gas-consumption-investment.html
Moody's Upgrades Outlook for Asian Steel Industry
http://www.taipeitimes.com/News/biz/archives/2014/08/20/2003597801
US Steel Rebound Undermined by Chinese Exports
http://mobile.bloomberg.com/news/2014-08-10/u-s-steel-rebound-undermined-by-china-exports-chart-of-the-day.html
Probably one of Bob May's crew
Grabbed some BAC 15.50 Aug 29 Weeklies for .12 on settlement news (calls)
SUTR -15% to .72 on nothing I can find (Chinese)
thanks DA
SUTR getting hammered today on nothing I can find...nibbling
$FENG seeing increased action on this
China Media Stocks Lift Shanghai Index to Eight-Month High on Xi
http://www.bloomberg.com/news/2014-08-19/china-s-stock-index-futures-rise-as-focus-turns-to-soe-reform.html
Solar Boom Driving First Global Panel Shortage Since 2006
http://www.bloomberg.com/news/2014-08-18/solar-boom-driving-first-global-panel-shortage-since-2006.html
That was not me. I added more sept and oct 60's though.
Go big or go home- much like you.
You must be working from the short seller's handbook and partnered with evil market makers.
There, I said it in public you paid basher!
Weeeeeeee!!!!!!
$SORL Q2 .21 vs .17 est
http://en.prnasia.com/story/102791-0.shtml
Great job Bob May...you pos
http://www.otcmarkets.com/financialReportViewer?symbol=TEXC&id=124941
Buffett added 1.2 million shares $CBI in the carnage...
Sorry to be so abrupt. Supposedly, this is a R/S to uplist.
The bad news here was the dilutive acquisition by the company to acquire CEO's privately held other properties in Arkansas. TEXC was holding above .30 when the news hit shares to acquire would be valued in .24 range.
Incestuous as can be.
Don't worry, the BOD okayed it and even got an "independent" opinion on the deal.
You realize this has been known for a long time?
That isn't the bad news here...
$CREG volume building, should pop when they PR it
SEAS downgraded by Barclay's but $40 PT lol
I think it sees a nice bounce next week. Very extreme sentiment towards it right now.
SEAS looks like I'm an investor here...wasn't able to get out of all of it on the morning pop
lol, could you get these flippers out of the way so my flip of Sept $20 calls at .90 could fill?
They need to announce that the killer whales will be done for good on 12/31. Then they win in court of public opinion and have a monstrous Q4.