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No concessions, I think we would all know and the share price would reflect same
I have no idea of knowing what AMLO knows
As I have stated before Mirage has exclusive rights to these 3 projects. But all that means is IF the projects are awarded by Mexico that Mirage and partner will get them. If they are NOT awarded then they would get nada
Who knows what they meant by tender, simple definition below. Exact translation is always difficult with these articles. Everyone knows the Brasil field is Mirage's project and I don't anticipate a bidding process (for any of the 3 projects, but especially the storage project). Of course I could be wrong. Also, I do think we'll know before December.
tender
noun
1) An offer for acceptance.
2) Specifically In law, an offer of money or any other thing in satisfaction of a debt or liability; especially, the production and offer to pay or deliver the very thing requirable by a contract.
3) An offer in writing made by one party to another to execute some specified work or to supply certain specified articles at a certain sum or rate, or to purchase something at a specified price.
Yeah I just had a heated exchange with them on correcting the Profile page to show the correct Latest Report date. They finally said they will look into it
I remember that clearly. I'm just saying it's not up to anyone but otcmarkets. Yes Ward should push to get the shell risk removed, but personally it's not a concern of mine.
I wouldn't expect that to come off based on their definition below. Ward should try but sounds like without material increase in assets or revenues they probably won't do it. Shouldn't impact anything really except depositing of private shares as you mentioned.
The Shell Risk designation indicates that a company displays characteristics common to Shell Companies. This designation is made at OTC Markets’ sole and absolute discretion based on an analysis of the company’s annual financial data and may differ from issuers’ self-reported shell classifications in their own public filings. Our analysis evaluates asset composition, operational expenditures, and income related metrics. No action is required by a company to perform the evaluation other than publishing current annual financial information.
In limited circumstances, OTC Markets will consider removal of a company’s shell risk designation upon written request by a company. Please be advised that such requests will only be considered when there has been a material change in financial condition since the most recent fiscal year-end that is reflected in publicly available interim financial statements. Examples include a material increase in asset composition or operating revenues with related financial disclosure as a result of an acquisition or change in control transaction.
I was rereading this post and am wondering how you determined "they'll put it out to bid"? Where does it say that?
01/31/2023 is shown as the latest filing on the profile page simply because that was the last revised filing that was filed. It's wrong obviously but not sure anything can be done and it doesn't matter in the least anyway. I will reach out to otcmarkets though and see what they say
LOL!
I didn't mean the author ..meant Alipi, he's as corrupt as they come
CFE also studying natural gas storage options, including the Brasil field
https://www.bloomberglinea.com/latinoamerica/mexico/exclusiva-cfe-evalua-invertir-en-almacenamiento-estrategico-de-gas-en-estados-unidos-y-mexico/
No doubt there will be multiple agencies involved, everyone will need to get paid, but my point was the Brasil field will be a Pemex project based on location and the fact that they own it. Sounds similar to the Jaf field as mentioned in the article from this morning.
I definitely don't trust anything the corrupt Alipi says
Need to consider the source
Agreed, shows the potential is still very much alive
Exclusive: Mexico to tender first field for strategic storage of natural gas
The gas pipeline operator in Mexico, known as Cenagas, is also preparing the tender for a second field exhausted by December 2023
By Arturo Solis
June 26, 2023 | 04:00 AM
Mexico City — Mexico will tender the first project for the strategic storage of natural gas during 2023 with the aim of strengthening the country's energy security and reducing its exposure to climatic or geopolitical risks.
In an exclusive interview with Bloomberg Línea , Abraham David Alipi Mena, general director of the National Center for Natural Gas Control (Cenagas), said that the tender for the depleted Jaf field, located in Veracruz, and the ruling will take three to four months.
“We want to get it out as soon as possible. I can tell you that at the end of next month, ”said the official during the conversation in his office in Mexico City.
The depleted Jaf field has a storage capacity of 17 billion cubic feet, equivalent to four days' inventory of demand.
The investment required for the project is approximately US$200 to US$250 million. The recovery of the investment will be through a storage fee that will be divided among the 35 users of the Natural Gas Integrated Transportation and Storage System, a network of gas pipelines known as Sistrangas.
Alipi Mena ruled out that the cost of the project has an impact on inflation because it will be less than 1% of the natural gas transportation rate, in addition to being an obligation of the users.
Regarding the entry into operation, he said that a part of the storage in Jaf may start this year, but the full potential will be between 2026 and 2027.
"It could start operating in part in what would be this year, but its full potential will be in the following six-year period," he said.
Jaf is located 40 kilometers southwest of the City of Veracruz. It was discovered in 2003 by Pemex. which produced 12,148 million cubic feet of gas until December 2014. In 2018, Cenagas presented the bidding rules for the project, but the Government of Andrés Manuel López Obrador paused it, after having criticized the opening of the oil sector to private investment with the energy reform of the former PRI president of Enrique Peña Nieto.
Mexico is a net importer of natural gas, which generates 60% of its electricity with this hydrocarbon. Despite its significant dependence on imported gas, mainly from the United States via pipelines, the country currently has a storage capacity of “four hours”.
During February 2021, Mexico faced a supply crisis due to a winter storm that paralyzed its main supplier, the Texas oil industry. The consequence was electricity service cuts to 4.7 million customers in multiple entities of the country due to the extra cost of natural gas purchased by the state company CFE for the production of electricity.
Alipi said that the February 2021 crisis made Cenagas resume storage projects, and "above all" ask if there was a market in order to avoid spending on infrastructure and that it is not used or nobody wants to work on it. The industry showed its interest during public consultations this year and last, which pushed Cenagas to launch the tender.
"They have expressed interest, especially after the events of February."
The Cenagas 2021 public consultation revealed that there are six companies interested in offering the storage service of 2,733 million cubic feet and 38 interested in having the strategic, operational and commercial storage service in depleted deposits, saline caverns and tanks.
Sempra Infraestructura previously told Bloomberg Línea that it was studying the possibility of investing in underground storage in Mexico.
Due to the location of the field in Veracruz, the potential gas supplier would be the state company Petróleos Mexicanos, known as Pemex.
When asked about the interest of the subsidiary CFEnergía in storage, Alipi Mena said that any company can participate in the tender that will have an "open seasons" scheme, that is, the allocation of storage capacity through auctions.
"Yes, they have expressed their interest in storing gas, I think that even they have been looking for storage," he said.
Cenagas prepares more strategic storage
Alipi Mena also revealed that he is preparing the tender for more storage with the Brasil field, located in the border state of Tamaulipas, by December of this year.
The potential of the Brasil field is "very large" with 495,000 million cubic feet, but the one studied and feasible, according to Cenagas, is reduced to 31,000 million, and represents an inventory for eight days of demand that requires an investment of US$600 million.
"Eight days. Well managed, even a little bit more,” she added.
Cenagas is also contemplating bidding for the depleted Acuyo and Saramanko fields, but it will take the Center a year and a half to present the bidding rules due to the lack of information on technical feasibility, since the existing data is for extraction, not gas injection.
“The main thing about this is to maintain sovereignty. For us from Cenagas, sovereignty means being independent, not depending on anyone and these systems give us that independence”, he concluded.
https://www.bloomberglinea.com/latinoamerica/mexico/exclusiva-mexico-licitara-primer-campo-para-almacenamiento-estrategico-de-gas-natural/
I think I understand what you're saying, I'm guessing your average is higher than current levels?
I did add on Friday as I stated. I'm over extended here so I'm not adding a huge amount but am capitalizing where I see good upside. And these are most likely trading shares, like the ones I bought sub .03 and sold at .085.
I see sub .06 as great opportunity given that I believe we will see pink current at some point and that alone will give the stock a boost. And I expect further updates on the binding development agreement that they announced (for all 3 projects), plus a couple other catalysts. And I believe we will establish a higher base once the stock becomes pink current and we get another update.
I personally am not counting on a home run announcement in the very short term, not sure where others are getting their information when they say they are expecting something each week. Don't get me wrong they could announce that they got permits/concessions at anytime and then the stock will be $.75+, but we have no way of knowing that timing. Or they could announce a buyout which is always possible, but I think that would come after they get permits. Or simply Mexico publicly announcing these projects could happen at anytime. I think that is most probable. So yes I am expecting some substantial news but not "next week". But since I'm already heavily invested it's not really a concern when exactly it happens, I just know I won't miss it.
So yes I will have more bids in sub .06 tomorrow
My point was the private folks cannot sell, although some wish they could. I know some are trying to deposit their shares now so more will become unrestricted at some point, but I don't believe much in the overall picture.
And yes I agree some people will sell and also others will buy. Which side does more of which will determine where the share price will go in the short term. In the long run it won't matter one bit.
I will continue to add at these levels and lower if goes lower
But wait what about the theory that private placement folks are selling?
Oh yeah not possible since they cannot deposit their shares ..oops strike that theory
No change to outstanding shares since last update..
O/S 505,479,269
Restricted 276,970,160
Unrestricted 228,509,109
Added some today
I don't know about that but I know at least one of them was a multi millionaire from Mirage and is now somehow complaining and the other is demanding to know when a 5 cent stock is going to become 10 bucks ..SMH
Wait ..this also was super funny LOL!
$MRGE
That really cracked me up, haven't laughed so hard in a long time :)
$MRGE
Pepe which part of that was a scam?
Those guys are corrupt. Storage should come from Pemex.
Someone said Ward is going this week so we'll see
Jonsmile said the haircut guy was waiting to buy through Schwab so he hasn't been able to do that yet
I always wondered who did all of the big long island hairdos
Did you buy the million shares yesterday?
No mystery, concessions are the next step/hurdle. Those need to come from an entity in Mexico, not sure from who exactly, I think Pemex for the storage field. They failed to come through last time thus why the projects fell apart a few years ago.
At least we know Mirage has exclusive rights to all 3 projects that they signed the development agreement on. That was a huge step.
My understanding is they have a solid plan on obtaining the concessions but obviously nothing is guaranteed as we saw what happened the last time.
Great, as expected MRGE will be pink current soon
Yeah I wonder if that is what he is saying, he seems very knowledgeable about the situation
Natural gas could generate 50% savings in fuels for heavy transport
Currently, there are 96 service stations spread over 18 states of the Mexican Republic.
ELAM-FAW stated that the use of natural gas as a fuel for cargo transportation is a mandatory transition.
Yeshua Ordaz
Mexico City /06.16.2023 14:43:00
The use of natural gas as a fuel for heavy cargo transportation is gaining relevance due to environmental and economic factors, since it can mean savings of 50 percent, said the company that produces and distributes these vehicles, ELAM-FAW .
Ernesto del Blanco , general director of ELAM-FAW , said that the use of natural gas as fuel for cargo transportation is a forced transition towards new sources of sustainable energy.
“Different aspects cannot be left aside, especially those that have a direct impact on the environment. The benefits are many, if we side with a micro transport company or fleet company, they are reflected in less engine wear, therefore there are savings in maintenance and the vehicles remain on the road for longer”, he stated.
The manager said that in Mexico there are 96 service stations in 18 states and it is expected that by the end of 2023 this figure can increase by at least 13 percent.
"There are two types of use of natural gas: compressed (CNG) and liquefied (LNG), the main difference lies in the way they are stored and used. LNG is stored in liquid form at very low temperatures, which allows more energy storage in a smaller space. On the other hand, CNG is stored in a gaseous form at high pressure, which requires a larger storage space compared to LNG."
The company said natural gas prices tend to be more stable and less volatile than oil prices , providing greater predictability in fuel costs for heavy trucking fleet operators.
“ The use of gas as a fuel for the transport of heavy cargo has been supported by international organizations due to its environmental benefits, its contribution to energy diversification and its positive economic impact."
The executive added that the reduction of polluting emissions, the improvement of air quality, the security of supply and the development of infrastructure are some of the outstanding aspects, which is why Mexico should bet on this transition in fuels .
https://www.milenio.com/negocios/gas-natural-generar-ahorro-transporte-pesado
Exclusive: CFE evaluates investing in strategic gas storage in the United States and Mexico
In an interview with Bloomberg Línea, the CEO of the subsidiaries CFEnergía and CFE Internacional talks about the plans to store natural gas
By Arturo Solis
June 20, 2023 | 04:00 AM
Mexico City — The Federal Electricity Commission (CFE), the Mexican state energy company, is studying options to invest in strategic natural gas storage near the US-Mexico border.
In an interview with Bloomberg Línea, the director of Cenagas spoke about the energy policy on hydrocarbon storage and the supply of gas to the industrial parks of the Interoceanic Corridor
In an exclusive interview with Bloomberg Línea , the CEO of the fuel trading and supply subsidiaries CFEnergía and CFE Internacional, Miguel Reyes Hernández, revealed that the company is studying gas storage options in the border area between the two countries.
“We are evaluating whether it is convenient for us to have storage in the north of the country in the Tamaulipas area or in what would be south Texas,” he said.
The manager said that there are two reasons for implementing strategic gas storage projects: energy security and profitability, since the objective is to reduce the losses left by the administration of former president Enrique Peña Nieto with the "long position" and the excess capacity to transport US natural gas that CFE has through pipelines.
The purpose, Reyes explained, is to take advantage of natural gas storage options when it is cheap and take it out when the price is higher and generate profitability for CFE that "allows it to sustain the price of electricity over time."
Due to the high investments required by strategic storage projects, CFE contemplates the participation of private partners.
"The investment would be mostly private so that we participate as minority partners," said the manager.
Reyes said that the storage plan will be defined in the next six-year term, which will begin in September 2024, but the current CFE administration will leave it open for the next one to execute.
Strategic storage consists of an inventory of gas and/or oil reserves to supply them in the event of an emergency declaration. Mexico is a net importer of natural gas, mostly from the United States through pipelines, and uses it to generate 60% of the electricity the country demands.
The country has an inventory strategy of 45 billion cubic feet, but it is in limbo.
Abraham David Alipi Mena, director of the National Center for Natural Gas Control (Cenagas), said in a previous interview that the institution only works on national natural gas surface storage projects for operational purposes so that the gas pipeline system operates without interruptions.
In September 2022, the Government of President Andrés Manuel López Obrador, through the Secretary of Energy (Sener), resumed the policy of former President Enrique Peña Nieto on natural gas storage to use 10 depleted oil fields to store the hydrocarbon.
With Peña Nieto, Cenagas coordinated the construction of a strategic inventory of at least five days for 45,000 million cubic feet of natural gas in 2026, but the arrival of López Obrador to the presidency left the project unfinished.
https://www.bloomberglinea.com/latinoamerica/mexico/exclusiva-cfe-evalua-invertir-en-almacenamiento-estrategico-de-gas-en-estados-unidos-y-mexico/
No doubt, it's basically a miracle he got this trading again.
Do people actually think Ward is spending time reviewing the fins??? Lol
Mirage is in an excellent position here. And whoever has wanted to buy in at these low levels has had more than ample time.
I'm looking for continued progress on these projects over the next 12 months with share price appreciation to match
I would devote almost all my time and what limited resources I have in landing a deal from Mexico
Nothing else matters
People can choose to buy a house from someone else
Actually just one letter posted twice but thanks for the concern. Couldn't be more of a non-issue.
Will be current soon which is the objective
The only change was at the top of page 3 where the total shares outstanding was updated to:
501,255,269 from 500,255,269
An ‘unprecedented drought’ is affecting the Panama Canal. El Niño could make it worse.
By Tara John and Taylor Ward, CNN
Published 5:12 PM EDT, Tue June 13, 2023
The Panama Canal is a vital conduit for shipping between the Pacific and Atlantic oceans
CNN
—
An “unprecedented drought” is affecting the Panama Canal’s water supply and leading authorities to impose surcharges and weight limits on ships traversing the key global trade route, according to the Panama Canal Authority.
Ships move through the Panama Canal through a lock system, which uses water from several freshwater reservoirs to float the massive cargo vessels overland.
But Panama is currently gripped by drought, and water levels at least one of those reservoirs – Gatun Lake – are dropping.
Lake levels are forecasted to hit historic lows in July, prompting authorities to implement water saving measures as well imposing strict draft restrictions, which is the distance between the waterline and the lowest point of the hull, in the last few months.
The lake’s dwindling water also supplies the nearby region, including Panama City.
“The climatic emergency decreed by the Panamanian National Government reinforces what the Panama Canal has been stating regarding the reality of a shortage of fresh water,” the statement read.
Much of Central America, including Panama, has been in significant drought in recent months. But the start of El Niño “could worsen” conditions, the Panama Canal authority also warned.
El Niño, a natural phenomenon in the tropical Pacific Ocean, typically brings warmer-than-average temperatures. This year, El Niño is expected to increase global temperatures, and could push 2023 or 2024 to be the warmest year on record.
The Panama Canal is a vital conduit for shipping between the Pacific and Atlantic oceans, helping vessels bypass the treacherous journey around the tip of South America, known as Cape Horn, as they largely move goods and commodities from Asia to ports on the United States’ east coast.
The canal was built from 1904 to 1914 by the United States, which had sole control over the channel across the Panamanian isthmus until 1979. The Panamanian government fully took control of the channel at the end of 1999.
Regional neighbors have sought opportunities to compete with the lucrative Panama Canal.
Nicaragua in 2014 announced the start of work on a multi-billion dollar shipping canal that aimed to rival Panama’s waterway – which has yet to materialize.
And this year, the Mexican government announced a plan to develop a corridor straddling a narrow isthmus in southern Mexico. Dubbed the Interoceanic Corridor, the plan would include a freight rail train stretching from the Pacific to the Gulf of Mexico.
https://edition.cnn.com/2023/06/13/americas/panama-canal-water-levels-climate-intl-latam/index.html