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.
what's going on with VEII these days?
You guys been in NEOM? I've been happy with that so far.
Glad I didn't buy many the other day LOL.
So, stock was bought like crazy early April at prices much higher than here. I'm in for a few shares between the highs and here.
Compared to early April volume in here is very low so not that worrisome I suppose ... except for the fact that not many seem to think it's a huge bargain in here?
Might pick up a few more here, might just wait, no hurry I guess.
Idle comments on a quiet board :)
GLTA
jonesie
Cloud8 re: "I just sold two other positions to free up some more neom $$."
I did the same thing today except when NEOM headed down towards low .40's I sold 5 other positions. Sold 2 yesterday (LGOV and GTEL) for more NEOM money and was glad I did ... all monies going into NEOM until I've averaged up to at least .30 I think.
Needed to do some housecleaning anyway, those 5 had rallied a bit, and lately I'm selling most everything into rallies ... except NEOM :)
I keep hearing Tobin upped his buy under, did he really? That guy is a putz, although if he hadn't kept sending me emails after I ended my subscription I never would have seen the NEOM "clues".
I wonder where we'll pull back to next week? Surely we will.
VERY nice week and GLTA!
jonesie
thanks aveng, I was just curious.
When did he do that? Via one of his alerts?
I used to subscribe to Toby but not now ... he's a putz ... but what I'm making in NEOM will more than cover some of his awful calls over a year ago LOL.
So Tobin upped his buy under ... seriously.
TB update?
Are you talking about TS, Tobin Smith? Did he really up his "buy under"?
TIA
jonesie
testsite, thank YOU!
Thanks for the time and effort. Glad that site worked out, video is great, glad to get to see it.
jonesie
p.s. Was that squirrel thing hilarious or what? LOL
testsite, re: video
Not sure, but you might be able to upload it to this site and have a link to it.
My son sent this to me the other day, pretty funny, and the Putfile site looks interesting.
Might be a waste of your time though, if so, sorry.
http://www.putfile.com/media.php?n=squirrel
jonesie
No great chartist here, but ....
This morning my meager TA skills told me down is next. With the time from now until something cool happens (unless there's a surprise) there's plenty of time for games to be played.
I got out first thing this morning at .24 even, as posted on RB.
Hoping to get back in lower and I don't always get what I want. I don't see what will keep GTEL from hitting a lower trendline I've drawn that currently sits at .175. Of course, the farther out we go, the higher that line will be.
Now watch it fly on me LOL. As always, a PR trumps.
JMHO and I'm impressed by the TA exhibited here which is much more knowledgeable than mine. I'm still learning.
GLTA
jonesie
tommyo:
I'm still buying. Made a rule quite a while back:
Let your winners run ... and feed them along the way.
With NEOM that has meant trying to add shares every 10% up, more on pullbacks. I got started at a little over .20. Yeah, I knew about NEOM when it was cheaper than that, just didn't take the time to look into it.
So, yeah, I'll be buying at .50. And hopefully at .55, and .60, and .66 etc etc.
jonesie
p.s. That rule did well by me in TIV where I started buying at $2 and bought at nearly every $1 increment from there ... TIV went to $17.
Tobin had better raise his "buy under"
Or his newer MicroCap subscribers won't be getting any NEOM.
Awesome day!
jonesie
I'm in with an add order at .347 to see if it fills this morning's gap up from yesterday's close.
Not really a gap, I know, and maybe fat-fingers McGee's sell at .25 filled it.
TV director, re: Tobin
Tobin can be a crazy guy, I subscribed last year but did not renew on '05. He pumps his successes, even very old ones, and conveniently forgets his MASSIVE failures. When he hasn't had a decent success lately he recommends a sell on a profitable pick, even if it is selling out WAY too soon, just so he has something to tout in his next email solicitations for new subscribers or his next email to existing subscribers. Lots of examples.
THAT having been said (and all the above means is he is not much different from a lot of other newsletter guys) he has some good ideas and, if one does his own DD on them AND, most importantly, is patient and uses TA to time entries better than he does sometimes ... one can make some money on his research ... also on the runups caused by his pumping LOL.
I only subscribed to his basic newsletter, not his relatively new MicroCap newsletter, so I don't know how his other picks there have fared. I googled a few things from his solicitation emails which led me to NEOM and I've been very happy so far and expect to be VERY happy later.
You can go to his website and click around a bit, find the "disclosure" link at the bottom of a page, and see what his current "personal" holdings are in any portfolio. That won't tell you all his picks in that port. though.
FWIW
jonesie
Doubloon, thanks for directing me here.
I was the last buyer today, a whopping 100 shares ;) Just wanted to get TDYH on my main screen so I could watch it more closely while checking it out, interesting, interesting. I plan on reading through the info you've posted on this board, thanks for all the work.
GLTA!
jonesie
ahhh, thanks LOL, hadn't looked there yet.
Found some TDYH stuff:
(couldn't still have that many shares, could they? maybe that was pre-split?)
http://www.collegestock.com/profiles/tdyh.asp
Financial Summary
Management anticipates an aggressive, efficient, yet cost-effective strategy to result in progressively increasing revenues and subsequently profits. It is believed that these projections have been structured with realistic levels of projected earnings to provide downside protection while taking in consideration the Company’s potential future growth.
Shares Outstanding: 22,250,000 shares
Public Float: 2,250,000 shares
The pricing scenario for Tandem’s financial projections employs an oil price of $40.00/barrel. This is very conservative considering that oil traded above $53 on average during March 2005 and can easily move much higher!
Company Profile
Tandem Energy Holdings Inc. (OTC: TDYH) is a solid, well established oil and gas exploration and production company located in Midland, Texas, currently in the business of producing oil and gas properties. Tandem combines principal shareholders with over 100 years of oil and gas experience who have agreed to join with the existing principals in taking the Company to a higher level of capitalization through key additional acquisitions and development drilling. The combined efforts will create a synergized organization that will provide the expertise for significant asset appreciation through focused property exploitation. The acquired proved producing oil and gas properties hold significant upside potential through additional infield drilling and re-stimulation techniques.
The Strategy
Tandem Energy (OTC: TDYH) anticipates the majority of the wells will be developmental wells, which means a well drilled within the proved area of an oil or natural gas reservoir known to be productive. Tandem Energy has selected its current drill sites by reviewing all available geological and production data for wells located near the proposed development. These include, but not limited to seismic 2D and 3D analysis, subsurface mapping, exploratory wells, well completion data, geologic surveys, production reports, as well as interviews with drilling companies, pipeline operators, and competitors.
I wondered why this pk stock was trading at $5+
"Current Capital Change:
shs decreased by 1 for 500 split
Ex-Date:
Record Date:
Pay Date: 2005-03-07"
Wow, 1 for 500.
I still can't find how many shares outstanding anywhere.
losabill thanks!
For the videos and pictures! Just finished watching, I really appreciate you doing that and the time it took.
jonesie
Short interest on TIV as of 3/15/05:
Month-----ShrsShort---- % Change
---------------------------------
Mar 2005 -- 548,854 ----- +86.95%
Feb 2005 -- 293,590 ---- +327.46%
Jan 2005 --- 68,682 ----- +96.67%
Dec 2004 --- 34,923 ---- +37.38%
Nov 2004 --- 25,421 ---- +10.40
Oct 2004 --- 23,027 --- +408.66
Sep 2004 ---- 4,527 --- (-59.68)
Aug 2004 --- 11,227 --- +132.59
Jul 2004 ---- 4,827 --- (-31.31)
Jun 2004 ---- 7,027 ---- +55.22
May 2004 ---- 4,527 ------- NC ---
Apr 2004 ---- 4,527 --- (-94.73)
Mar 2004 --- 85,881 --- (-13.21)
Feb 2004 --- 98,951 --- (-.88)
Jan 2004 --- 99,833 ---- +.89
Dec 2003 --- 98,951 --- (-18.30)
Looks like TIV became a popular short target.
jonesie
Tri-Valley Sunrise Horizontal Well at Total Depth
Friday March 18, 4:20 pm ET
BAKERSFIELD, Calif., March 18 /PRNewswire/ -- Tri-Valley Oil & Gas Co., a wholly owned subsidiary of Tri-Valley Corporation (Amex: TIV - News), has reached total depth on its Sunrise-Mayel No. 2HR at 9,100 feet, including 3,000 feet of horizontal bore. The well will be logged today, then cased in preparation to hydraulically fracture the McClure Shale formation along the horizontal leg.
ADVERTISEMENT
The target is a natural gas rich zone that has little permeability to allow the gas to move to the bore hole at commercial rates. In industry parlance, it's called "tight." New technology is enabling more of these tight formations to yield their treasure and usually requires a combination of drilling horizontally to expose more of the zone to the well bore and then fracturing that zone lengthwise to provide more avenues of escape for the oil or gas.
While the country's hottest tight shale play, the Barnett Shale, can carry approximately one trillion cubic feet of gas per seven square miles, Tri-Valley's McClure Shale play posits approximately 2.25 trillion cubic feet in the same amount of area. Tri-Valley has mapped a closure of about 10 square miles on its Sunrise Natural Gas Project. However, the Barnett Shale, after years of experimentation to identify the means to commercially exploit it, is now heavily on line while Tri-Valley has yet to achieve commercial rates in its McClure Shale play. The hydraulic fracturing of the Sunrise-Mayel No. 2HR is an important step in the process of obtaining commercial status for its Sunrise discovery.
"Given the magnitude of the potential gas in place, there is every reason for Tri-Valley to pursue overcoming the engineering challenge presented in this discovery and we intend to persevere in this matter toward the ultimate reward we see in the Sunrise project," said F. Lynn Blystone, chief executive officer of TVOG.
Tri-Valley Adds to California Lease Position
--------------------------------------------------------------------------------
PRNewswire
12:30 p.m. 03/01/2005
BAKERSFIELD, Calif., March 1, 2005 /PRNewswire-FirstCall via COMTEX/ -- Tri-Valley Oil & Gas Co., an operating subsidiary of Tri-Valley Corporation (TIV) has acquired a producing lease of approximately 7,000 acres in California. While the property does not exceed 15% of the balance sheet assets and does not meet the requirements of the Securities and Exchange Commission for mandatory disclosure, the Company believes the property is prospective for hydrocarbon and represents a material opportunity.
Accordingly, the Company makes this abbreviated announcement while keeping further details confidential until its leasing program is complete.
Tri-Valley Corporation is in its 42nd year of business as a successful operating company and for 33 years has been a full reporting 12 (g) publicly traded Delaware Corporation. The Company's stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de .
Tri-Valley Stock Among Top Performers on AMEX
Monday January 31, 5:27 pm ET
BAKERSFIELD, Calif., Jan. 31 /PRNewswire-FirstCall/ -- With a gain of 178%, the stock of Tri-Valley Corporation (Amex: TIV - News) of Bakersfield, California, was the fourth best performing stock on the American Stock Exchange in 2004, and Tri-Valley has been invited by the AMEX IR Alliance to join the top 50 performing companies for a special recognition conference in New York City March 16.
During 2003, Tri-Valley more than tripled its stock price from the $1.00 range to close that year at $4.40. The management then declared a goal of "double or more in 2004" and again came close to tripling it when the stock peaked at $12.98 before closing the year at $12.23 or a gain of 2.78 times.
With an array of oil, gas, and mineral projects of considerable magnitude, Tri-Valley management expects to continue adding value to the stock from its aggressive exploration and acquisition program.
"We will frac our deep Ekho well around February 21 and also begin redrilling the horizontal leg of our big Sunrise gas play about the same time. If successful, Tri-Valley's share of these could exceed our minimum target for growth. Furthermore, the Company has two other fully funded exploratory projects, namely the Sunridge and Midland Trail prospects, which it plans to drill in the coming weeks. Additionally, we have other projects of magnitude in the works as well. Our goal is to obtain and succeed on projects that can add exponential value to our stock. As an exploration company, we know most plays will fail. But we have really big upside potentials in our extensive inventory so it only takes one," said F. Lynn Blystone, president and chief executive officer.
Tri-Valley Corporation became listed on the American Stock Exchange October 23, 2003. The Company presently has 22,036,052 shares outstanding with a public float of approximately 19,315,758. The stock is widely held by about 5,000 shareholders in North and South America, Europe, Asia and Australia.
The Company owns a proprietary geologic library that gives it data on every continent except Antarctica. More particularly, it has 700 exploration leads and prospects in California, the world's fifth largest economy, which presently imports nearly 60% of its oil and nearly 90% of its natural gas needs.
Through its wholly owned subsidiary, Select Resources Corporation, Tri-Valley has two large gold exploration projects in Alaska and operates an industrial minerals joint venture in California.
Tri-Valley stock has recently traded in the $10 plus range with an average volume of 107,000 shares per day.
Tri-Valley Corporation is in its 42nd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. The Company's stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de.
Signs of life?
Been watching this for quite a while.
That was the same question I had, how would a new traded company in the GCC affect veii stock? Anyone know?
TIA
jonesie
Short interest on TIV as of 1/15/05:
Month-----ShrsShort---- % Change
---------------------------------
Jan 2005 --- 68,682 ----- +96.67%
Dec 2004 --- 34,923 ---- +37.38%
Nov 2004 --- 25,421 ---- +10.40
Oct 2004 --- 23,027 --- +408.66
Sep 2004 ---- 4,527 --- (-59.68)
Aug 2004 --- 11,227 --- +132.59
Jul 2004 ---- 4,827 --- (-31.31)
Jun 2004 ---- 7,027 ---- +55.22
May 2004 ---- 4,527 ------- NC ---
Apr 2004 ---- 4,527 --- (-94.73)
Mar 2004 --- 85,881 --- (-13.21)
Feb 2004 --- 98,951 --- (-.88)
Jan 2004 --- 99,833 ---- +.89
Dec 2003 --- 98,951 --- (-18.30)
Select Resources Corporation Assembles Technical Team
Tuesday January 18, 11:59 am ET
BAKERSFIELD, Calif., Jan. 18 /PRNewswire-FirstCall/ -- Tri-Valley Corporation (Amex: TIV - News) announced today that its new mining subsidiary, Select Resources Corporation, has added four consultants in building its world-class technical team. In 2005, Select expects to contract from one-third to half-time the services of Dr. Odin Christensen, explorationist and team coordinator, Dr. Craig Beasley, geophysicist, Dr. Jeffery Jaacks, geochemist, and Sandra Perry, a specialist in remote sensing.
ADVERTISEMENT
"These highly accomplished professionals form a team that will provide Select Resources the ability to perform state-of-the-art exploration programs integrating the key disciplines of mineral exploration. This complements our affiliation with TsNIGRI, the principal Russian mineral research institute, and provides Select Resources exceptional global capabilities in all phases of exploration for precious metals, base metals, and gemstones. We are now prepared to perform rapid, high quality evaluation on the district-size properties currently in our portfolio," stated Dr. Harold J. Noyes, President of Select Resources Corporation.
Dr. Odin Christensen's career includes 21 years at Newmont, where he performed various roles including Vice President of Exploration (Newmont Gold Company) and Chief Geologist (Newmont Mining Corp.). In the late 1980's he guided the successful Newmont exploration program that transformed the Carlin district from several small gold mines into one of the world's premier gold producing districts. He has worked on a wide range of gold deposits in 26 countries. Dr. Christensen will be the lead geologist and team coordinator of the technical team now being assembled for Select's exploration effort. The initial focus will include gold properties in Alaska along the prolific Tintina Gold Belt. Dr. Christensen has a Ph.D. from Stanford University. He is based in Colorado.
With a Ph.D. in geophysics from the University of Utah, Dr. Craig Beasley is the principal with Wave Geophysics LLC of Evergreen, Colorado. Earlier in his career he served as a Senior Project Geophysicist with BHP Minerals. His worldwide experience includes projects in North America, South America, Africa, Australia, and Eurasia exploring for a diverse range of mineral deposits including porphyry copper, iron-oxide-copper-gold, sediment and volcanic hosted gold, base metal, platinum group and diamond deposits. An instructor for many short courses for geophysicists and geologists, Dr. Beasley has served as chairman of the Mining and Geothermal Committee for the Society of Exploration Geophysicists and assistant editor of the Society's journal, Geophysics.
Dr. Jeffrey Jaacks is President of Geochemical Applications International headquartered in Centennial, Colorado. Dr. Jaacks has held senior positions with several companies, including Chief Geochemist for Americas with BHP and Chief Geochemist with Westmont Gold. He is extensively published and is a frequent invited speaker at international symposia on research strategies, technology development and exploration geochemistry. He holds a Ph.D from the Colorado School of Mines, has served as President of Association of Exploration Geochemists, and is currently a councilor of the Association of Applied Geochemists. He has managed technical teams providing geochemical services for more than 150 projects operating in 16 countries in North and South America, Australia, Europe, Asia, and Africa. He directed services that played instrumental roles in the discovery of major gold and diamond mines.
Sandra L. Perry is Senior Geologist and Partner in Perry Remote Sensing LLC of Denver, Colorado. Ms. Perry conducts satellite and aircraft image interpretations worldwide and has extensive experience in integrated exploration programs. Early in her career she was Manager, Image Processing Division for Barringer Laboratories of Golden, Colorado and Johnson Controls, TGS Technology, Inc. of Fort Collins, Colorado. Ms. Perry holds a Master of Science degree from the Colorado School of Mines and is a member of a number of professional organizations, including the Colorado Mining Association, the Society of Economic Geologists, PDAC, the Geological Society of Canada, and the American Society of Photogrammetry and Remote Sensing. She has geologically mapped many hundreds of thousands of square kilometers on several continents exploring for a diverse array of minerals and metals. She was the first American remote sensing geologist to visit and present a paper to the geoscientists of the All-Union Research Institute of the Ministry of Geology of the former Soviet Union. Her work has been an instrumental component of a number of deposit discoveries.
"We are serious about building Select Resources Corporation into a stand alone operating mining company to add value to our shareholders and are investing in quality personnel, technology and properties to attain that goal. We expect to evaluate some large, geologically prospective and diverse land packages for a variety of mineralization, and this team provides Select Resources exceptional capabilities," said F. Lynn Blystone, Tri-Valley Corporation President and Chief Executive Officer.
The Company is in its 42nd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de.
(COMTEX) B: Tri-Valley's Select Resources Corporation Subsidiary Signs Maj
r Joint Venture With Trans-Western Materials ( PRNews
B: Tri-Valley's Select Resources Corporation Subsidiary Signs Major Joint Ventur
With Trans-Western Materials ( PRNewswire-FirstCall )
BAKERSFIELD, Calif., Dec 10, 2004 /PRNewswire-FirstCall via COMTEX/ --
Tri-Valley Corporation's (Amex: TIV) new mining subsidiary, Select Resources
Corporation, has signed its first major deal, an industrial minerals joint
venture with Trans-Western Materials LLC of San Diego, California, it was
announced today by F. Lynn Blystone, chief executive officer of both Tri-Valley
and Select. The joint venture is 50-50 and Select will be the operator.
The initial phase will be to re-open the Monarch Mine in eastern Kern County,
California to supply central and southern California customers with very high
grade calcium carbonate (CaCO3) in the range of 97% to 99% CaCO3 with a
whiteness grade of plus 96% Hunter and GE brightness. Approximately 15 million
tons of these grades are immediately available.
On a much larger scale, the JV, to be named Alpha Minerals and Chemicals, LLC,
has rights to an estimated 400 million tons of high grade CaCO3 from surface to
an as yet undetermined depth. With its proposed base load customer, Alpha
expects to enter the business as the third largest producer in California and
seventh largest in the nation.
Listed as an essential product for the manufacturing base by the State of
California, high grade CaCO3 is used in some 1,200 different products in such
industrial applications as stainless steel, paint and glass making, agricultural
uses and human uses range from cosmetics to antacids.
In California, the world's fifth largest economy, the demand for high grade
CaCO3 is growing at an approximate rate of 7% and both the commodity and
competition is limited.
"Our shareholders are more familiar with oil and gas terms so we're comparing
this on a volumetric basis that Tri-Valley estimates it has acquired half the
equivalent of a potential 800 million barrel oilfield with price per ton values
roughly equivalent to $25 to $50 barrel oil," Blystone said.
Dr. Henry J. "Rick" Sandri, executive vice president of Select Resources and an
industrial minerals expert, will be the executive director in charge of the
joint venture. He will be joined by the president and vice president of
Trans-Western, Marshall Pettit and Wayne Everett, as managing director and
senior director of mining and milling operations respectively as the initial
operating staff.
Directors of Alpha will be Blystone as chairman, Dr. Sandri, Dr. Harold J.
Noyes, a director of Tri-Valley and president of Select, Pettit, Everett and
Peter Tarnoff, a director of Trans-Western. Thomas J. Cunningham, chief
financial officer of Tri-Valley and Select, will also handle those duties for
Alpha. All these enterprises will be operated in the same manner as Tri- Valley
Corporation, which is a full reporting public company listed on the American
Stock Exchange under the symbol "TIV."
Tri-Valley, through Select Resources, will fund up to $2.5 million in loans to
establish Alpha operations while Trans-Western is providing mineral rights,
customer letters of intent, permits, facilities and equipment contacts, and the
organization to date.
"We expect this operating venture to rapidly add cash flow and share value to
all participating entities. This is an important component of business for
Select Resources, which will soon have additional important plant and equipment
assets plus precious metal and industrial mineral properties toward launching it
as a stand-alone mining company. Select will also operate Tri-Valley's 42-square
mile gold exploration project at Richardson, Alaska," Blystone said.
Tri-Valley Corporation Rigs Up For Ekho Deep Frac
--------------------------------------------------------------------------------
PRNewswire
09:15 a.m. 12/03/2004
BAKERSFIELD, Calif., Dec 3, 2004 /PRNewswire-FirstCall via COMTEX/ -- Tri-Valley Corporation (TIV) is rigging up to perform its long-awaited pioneering super deep hydraulic fracture job on its Ekho No. 1 well about 45 miles northwest of Bakersfield, California. For the first stage of the program approximately 3.5 miles of 3 1/2 inch tubing will be pulled from the well and replaced with 4 1/2 inch tubing to allow the bottom hole pressure to be substantially increased to much more effectively break down the designated Vedder sand formation between 18,000 and 18,500 feet.
Once the tubing is changed out, Schlumberger will move in its Ultra High Pressure Frac Unit and accompanying team of scientists and technicians to set a new record for performing, by far, the deepest frac job ever attempted in California.
Tri-Valley set the North American record for the fastest, longest single drill bit run when it drilled the well in early 2000, drilling 10,045 feet in 116 hours and went on to reach total depth at 19,085 feet in 86 days, including intermediate logging and two core samples. The latter were valuable in confirming copious saturation of 48 gravity sweet oil and 1,460 Btu sweet natural gas. Independent estimates of the oil and gas in place in the four main saturated zones over some 2,000 feet are in the range of 166 million barrels of oil equivalent (BOE) for the 320-acre producing unit formed around the well bore. Cutting the normal conservative recovery factor of 25% in half, Tri-Valley is aiming for an ultimate recovery of around 20 million BOE if the frac will enable the well to deliver at commercial flow rates from this one producing unit alone.
The deep formations are so dense, the oil and gas cannot flow through them fast enough to the well bore for recovery at commercial rates. Hence, the need to fracture the zones to create more pathways to flow the petroleum. Many wells deeper and with higher temperatures and pressures than Ekho No. 1 have been frac-ed and achieved high production rates around the world, but none have all the same characteristics as Ekho No. 1. After extensive study with worldwide consultants and vendors, Tri-Valley has designed a program for which it gives a high success potential.
Tri-Valley plans to apply a combined total bottom hole pressure of up to 27,000 pounds per square inch (Psi) to fracture the formation several hundred feet in radius around the well bore to create myriad new pathways for oil to drain. And it expects the well to take up to several weeks for the frac fluid to be recovered before it can be determined what the oil and gas flow rate will be.
"Our incentive to pursue this completion is driven by the fact that we know that high quality oil and gas are there and we are looking at recovery potentials in the one billion dollar range if our program design is successful. We may have to try more than once and we may get more or less, but the prize is well worth persistence for our shareholders and drilling partners," said F. Lynn Blystone, president & chief executive officer.
Tri-Valley Spuds Los Gatos Prospect Tes
http://biz.yahoo.com/prnews/041124/law016_1.html
Tri-Valley Spuds Los Gatos Prospect Test Well
Wednesday November 24, 11:07 am ET
BAKERSFIELD, Calif., Nov. 24 /PRNewswire-FirstCall/ -- Continuing its relentless pursuit for a big target discovery, Tri-Valley Oil & Gas Co. will finish rigging up in the huge Coaling/Kettleman producing area to begin drilling its Los Gatos Creek No. 1-16 today. The Company expects to finish drilling and log the well before year end.
Approximately 100 miles northwest of Bakersfield, California, the prospect is surrounded by fields that have produced more than two billion barrels of oil and nearly four trillion cubic fee of natural gas. The Los Gatos Creek exploratory prospect contains five potential pay zones and is two and a fourth miles northwest of an earlier test that had many oil and gas shows but had been depleted by the 600 million barrel of oil equivalent production of the nearby East Coalinga Oil Field since 1938.
Tri-Valley's geologists and engineers have mapped this new prospect area estimating a minimum target potential in the range of 75 million recoverable barrels. If all zones are fully loaded, the oil and gas in place could easily double to qualify this Los Gatos prospect as a giant oilfield.
The Company cautions that this is an exploration prospect and the statistical odds are against a new discovery. However, all data indicators for success are present and the Company is committing in excess of one million dollars just to drill the 7,200-foot test well.
Exploration opportunities in the area recently became available since ChevronTexaco began selling some of its acreage in mature areas. However, other than Tri-Valley's own testing, no well has been drilled in the area for about 50 years leaving large tracts of prospective land now open that Tri-Valley's proprietary data base, along with new technology, suggests could host targets of considerable magnitude.
F. Lynn Blystone, President and Chief Executive Officer of Tri-Valley Corporation (Amex: TIV - News), the publicly traded parent of Tri-Valley Oil & Gas Co. commented on the exceptional value these types of targets can provide shareholders, drilling partners and consumers.
"Our company looks for very large targets where discovery success can catapult our stock value, give extraordinary rewards to our drilling partners and increase supply for the consumers of oil and natural gas based products. When we win, everyone wins and we have enough of these big targets in our inventory to have one or more come in to exceptionally reward those who join us in the quest for big, new reserves," Blystone said.
He noted the Company had the very strong support of its programs by more than 93% of its shareholder base and all of its drilling partners and is, therefore, increasing its technical staff to ramp up the generation of prospects to accelerate the probability of major discovery success.
"We believe that only a one percent success on the aggregate potential of our TVOG Opus I Drilling Program LP would pay for all program exploration costs, all field development and operating costs, all royalties, allow for Tri-Valley's 25% back in and, at today's prices, could still return better than 12 to 1 to the investors not even counting tax benefits. While we make no guarantees, our corporate goal aims at finding 10% or more of the program's aggregate potential," Blystone said.
CBS MarketWatch "Stocks to Watch on Monday"
This will get some more eyes on TIV next week. This blurb plus the recent price action will generate some additional buying interest.
From CBS MarketWatch's "Stocks to Watch on Monday" list on Friday:
"Tri-Valley Corp. (TIV: news, chart, profile), an energy company, said late Friday that it will restate 2003 fourth-quarter earnings to move about $800,000 of profit into the first two quarters of 2004. The company said it is changing revenue-recognition policies and that the restatement is related to a well that struck oil in December 2003 but wasn't logged until January 2004. A review of financials also found a certain expense had been double charged, adding $442,000 to the restatement. The first nine months of 2004 will gain $1.24 million."
jonesie
Tri-Valley Restates Earnings Upward in 2004 and Down in 2003
Friday November 19, 6:35 pm ET
BAKERSFIELD, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Tri-Valley Corporation (Amex: TIV - News) has filed a Form 8-K announcing a voluntary restatement of earnings for the fourth quarter of 2003 which pushes about $799,000 of the fiscal 2003 profit and tax benefit into the first and second quarters of fiscal 2004 for a substantial upward allocation for fiscal 2004 ending December 31, 2004. It will also make other adjustments stemming from correcting a double charge that further increases fiscal 2004 revenues.
The Company has reviewed its revenue recognition policy and has decided to adopt even more conservative accounting wherein the Company will only recognize turnkey drilling revenue when a well is logged against the date certain of the December 31 end of the fiscal year rather than the close of books of the fiscal year which necessarily spills over into the new year.
One oil well spudded by Tri-Valley in December 2003 was not logged until January 2004. Even though the Company accounting is on an accrual basis and all expenses of the well were matched before the close of 2003 books, the Company, including its Audit Committee and its independent auditor, now believes it should voluntarily make an adjustment to push that profit forward one quarter into the 2004 fiscal year in line with its normal conservative accounting practices.
According to Thomas J. Cunningham, chief financial officer for Tri-Valley Corporation, the restatement should have no material effect on the Company and represents a pro-active conservative approach by Tri-Valley to its financial reporting assuring it is in compliance with the most current accounting policies.
Tri-Valley already uses the most conservative form of petroleum accounting, "the Successful Efforts Method", and also carries substantial assets in petroleum reserves off the balance sheet since they were found rather than purchased. In all, Tri-Valley's financials represent very conservative, discounted values and this restatement merely represents a technical timing interpretation, rather than any loss of the actual revenue.
Net income for fiscal year ending in 2003 will be decreased from about $1,160,000 to approximately $456,000 and the $704,000 difference, plus some tax adjustment totaling about $799,000, will be put into this fiscal year causing an upward restatement of the first quarter, and the first six months ending June 30, 2004. This will have no effect on cash flow.
In the review of transactions under the 404 Internal Controls Testing mandated by the Sarbanes-Oxley Act, the Company discovered a $442,000 cost in its Ekho deep well had been double charged and that adjustment will be an additional benefit to the Company's first nine months for fiscal 2004 for a total addition of $1,240,000 including a small beneficial tax adjustment.
Headquartered in Bakersfield, California, a prolific oil and gas producing area, the Company is in its 42nd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are http://www.tri-valleycorp.com and http://www.tri-valley.de.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended June 30, 2004, and the annual report on Form 10-K for the year ended December 31, 2003.
CONTACT: Thomas J. Cunningham
Chief Financial Officer
(661) 864 0500
--------------------------------------------------------------------------------
Source: Tri-Valley Corporation
Shareholders Hear Tri-Valley Expansion Plans
10/27/2004 9:30:00 AM
BAKERSFIELD, Calif., Oct 27, 2004 /PRNewswire-FirstCall via COMTEX/ -
- With more than 93% of the outstanding shares voting, Tri-Valley Corporation (TIV) shareholders gave management in excess of 99.8% of the vote at the Company's annual shareholder meeting last Monday in San Francisco. The Company's 20.7 million shares are widely held by about 5,000 stockholders in both hemispheres, and the vote exceptionally confirmed that management and the shareholders share the same vision for the Company's growth.
Tri-Valley president and chief executive officer, F. Lynn Blystone, told over 100 shareholders attending that despite a falling stock market the Company's stock price was up 26% and the market capitalization had increased 35% since last year's meeting. He advised that several of Tri-Valley's largest projects were underway and some would likely report results before year-end.
Joseph R. Kandle, president of the Company's operating subsidiary, Tri-Valley Oil & Gas Co., noted that the hydraulic fracturing of 500 feet of its Ekho No. 1 deep well between 18,000 and 18,500 feet would commence in November. The well contains about 2,000 feet of hydrocarbon-saturated formations, all of which are "tight" and require fracturing to enable the oil and gas to flow at commercial rates. With several thousand acres of leases in the play, TVOG, along with independent engineering firms, estimates that the 320-acre Ekho No. 1 producing unit holds 160 million barrels of oil equivalent, but the Company has no history for assigning a recovery factor in such wells at this time.
Mr. Kandle advised the audience that at least two other prospects would be drilled by year-end pending equipment availability and also that location was being built for the first Nevada prospect, expected to be drilled early next spring.
"While 'frac-ing' a well so deep is a pioneering effort in California, the implications, if we are successful in establishing commercial production, are that we will open up the third century of big exploration in California as there are huge, untested deep targets left to explore," Kandle said.
He noted that TVOG has added specialized geological and engineering technical staff to ramp up evaluation of the Company's proprietary database of nearly 1,000 leads and prospects, and is already doing advanced work on 16 new prospects to add to the 26 prospect inventory of Tri-Valley's current exploration program which emphasizes very large, "company maker" type projects.
"We at Tri-Valley, along with our investors, have the potential to make a beneficial difference for consumers as well as create exceptional returns for our shareholders and drilling partners," Kandle said.
Chief Financial Officer, Thomas J. Cunningham, gave an overview of the Sarbanes-Oxley Act's impact on Tri-Valley Corporation and its subsidiaries, noting that it will add hundreds of thousands of dollars in new accounting, legal, board and staff costs to implement and maintain the requirements of being a publicly traded company.
With its stock listed on the American Stock Exchange, attending shareholders heard and asked questions of Perry Peregoy, president of Cohen Specialists, LLC, which trades Tri-Valley Corporation stock on the AMEX under the symbol TIV.
Blystone discussed a recent new alliance with a London-based firm that specializes in identifying opportunities for strategic expansion including emerging situations and concessions in various international venues.
"Even as we are intensifying our search for big, new, flush production, long life reserves in California, we are positioning Tri-Valley Corporation for rapid expansion in the oil and gas business from any discovery success we achieve with our present program. This is in line with our plan for continued expansion as one of the fastest growing oil and gas companies in the United States, according to the Oil & Gas Journal. We expect to be a significant, expanding player in the 21st century petroleum industry with the attendant benefits to our shareholders and drilling partners," Blystone said.
Blystone also discussed the progress of preparing Tri-Valley Corporation's 42-square mile gold exploration project at Richardson, Alaska, for spin off into a new, stand alone mining company. He noted that after a cost benefit analysis, the Company was issuing a few hundred thousand shares of stock to buy out various royalty owners to achieve a clean property for transfer; an approach he likened to an actor buying out his contract in order to pursue a greater opportunity. These private placement shares will result in a one-time extraordinary non-cash charge to the income statement for fiscal 2004.
"Tri-Valley has always been able to add value for all its shareholders from any private placement and we expect to deliver additional value from these transactions as well," Blystone said.
Reelected for another year term as outside directors are Milton J. Carlson, C. Chase Hoffman, Dennis P. Lockhart, Loren J. Miller, and Harold J. Noyes. F. Lynn Blystone, president and chief executive officer, was also reelected a director. All officers of Tri-Valley Corporation and its subsidiaries were also reelected at a subsequent meeting of the Board of Directors of the corporations.
Headquartered in Bakersfield, California, a prolific oil and gas producing area, the Company is in its 42nd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended June 30, 2004, and the annual report on Form 10-K for the year ended December 31, 2003.
SOURCE Tri-Valley Corporation
F. Lynn Blystone, President & Chief Executive Officer, of
Tri-Valley Corporation, +1-661-864-0500, or toll free, +1-800-579-9314, or
fax, +1-661-864-0600
Tri-Valley Builds Exploration Team
Friday October 8, 3:01 pm ET
BAKERSFIELD, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Tri-Valley Oil & Gas Co. (Amex: TIV - News) has added two technical consultants to its exploration team to speed up evaluation of the firm's proprietary database of 700 California leads and prospects.
ADVERTISEMENT
Ron Brown, a member of the Society of Petrophysicists and Well Log Analysts and the Society of Petroleum Engineers, has 24 years of high-tech oil field experience and will focus on computer applications for all databases. An engineering graduate of Cal Poly San Luis Obispo, Mr. Brown completed post-graduate courses at the University of Texas Petroleum Engineering Institute. He held various engineering/management positions with Schlumberger including logging California's deepest well, the 24,426-foot Elk Hills well by the U.S. Department of Energy. Most recently he was Bakersfield Operations Manager for Reeves Wireline Service/Precision Energy Services for the western United States including Alaska.
Myron Tiede brings 27 years of experience on the technical staffs of Occidental Oil & Gas, Buttes Oil & Gas, Santa Fe Energy and Texaco with emphasis on the Great Basin of California. As a geological consultant, he specializes in evaluating oil and gas producing formations of exploration prospects, the key business focus of Tri-Valley Oil & Gas Co. Mr. Tiede will work closely with the Company's other consultants, Paul Hacker, geologist, Greg Soukup, petroleum engineer, and Ron Brown, all under the leadership of TVOG President Joseph R. Kandle, to accelerate prospect generation for the Company's exploration drilling programs. Mr. Tiede is a geological graduate of California State University Bakersfield and a member of the American Association of Petroleum Geologists.
Tri-Valley Oil & Gas Co. is a subsidiary of Tri-Valley Corporation, an American Stock Exchange listed Company headquartered in Bakersfield, California, with operations in California, Alaska and Nevada.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended June 30, 2004, and the annual report on Form 10-K for the year ended December 31, 2003.
For further information, please contact: F. Lynn Blystone, Chief Executive Officer of Tri-Valley Oil & Gas Co., +1-800-579-9314.
My guess is folks not wanting to wait until the last minute to take a position or add to their positions prior to the EKHO-1 frac slated to take place 1st week in November.
I sure wouldn't want to be "out" of TIV right now as this period of time may turn out to be the single-most exciting and successful time in Tri-Valley's history.
Good luck.
jonesie
I like your KMGB
First post here although I've read through this board from time to time for a few months, appreciate all the ideas.
I do like KMGB because it reminds me of one I've been in for years, but not in a big way until a little over a year ago ... UFPT.
Some info from Yahoo Finance:
Revenue (ttm): 62.59M
Revenue Per Share (ttm): 13.579
Revenue Growth (lfy)³: -0.50%
Gross Profit (ttm)²: 10.72M
EBITDA (ttm): 1.86M
Net Income Avl to Common (ttm): -1.09M
Diluted EPS (ttm): -0.243
Market Cap (intraday): 14.35M
Enterprise Value (30-Jun-04)³: 30.44M
Trailing P/E (ttm, intraday): N/A
Forward P/E (fye 31-Dec-05)¹: 4.78
PEG Ratio (5 yr expected)¹: N/A
Price/Sales (ttm): 0.24
Price/Book (mrq): 1.15
Enterprise Value/Revenue (ttm)³: 0.49
Enterprise Value/EBITDA (ttm)³: 16.33
Bought ~$1.10 a year ago and tucked away, it's $3.11 now.
Quoting you on KMGB: "Not a runner, lousy spread, but if you're looking for a tuck away, look back later, and you've doubled your money, this is a great stock to own." I'm thinking UFPT fits that profile STILL so thinking of adding more here. Big automotive contract kicking in 4Q04 (as far as earnings from it) "a $77 million automotive program scheduled to start in mid-2004."
From http://www.themanufacturer.com/content_detail.html?header=profile&contents_id=2135&t=manufac...
"The company, through its Simco Automotive Division, also has some valuable contracts signed and sealed with the automotive industry to run through 2007"
That automotive contract, if profitable, adds a big % to the current revenues. I think UFPT would have been profitable in a big way recently except for capital expenditures on equipment related to that automotive contract along with costs of consolidating several plants in recent years. They seem to be leaner and meaner and ready for the next phase.
I'm posting this FYI in addition to just saying "hello" and would also be interested in anyone's take on UFPT going forward.
jonesie