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Great point Barnseller - The loan folks would have definitely done their due diligence so barging consent must be a moot point. GRH does not want to bring it up in fear of looking like they are smearing it in CG faces.
I hope this thing gets up in the $3s like it did this winter... :) Full speed ahead!!!!
Mike
I still don't like not having the official sign-off by the CG on barging. They do not have permission or they would have made a big deal about it. GRH's attitude is to ignore the elephant in the room but the elephant still scares me.. They do appear to be pretty confident so I hope all works out... gotta get over a buck.
I agree the oil/gas recovery is in the distant future.
I am excited about the possibility that GRH continues to increase revenue and profitability in the face of the downturn. That could separate us from the pack and open a lot of eyes.
As you say, the oil/gas recovery would be icing on the cake..
Mike
I'm averaged in at about $1.04 and can't afford anymore.. sure wish I could....
who his Anthony? IR guy I guess...
Thanks Barnseller! Sounds great! BTW, I am mikebwca on YahooM
Talk to Anthony?
Anti-Drillers Don’t Like Being Considered Suspects in Crimes
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Some children are never taught the life lesson that actions have consequences–and that you have to take responsibility for your actions. Some of those children grow into adulthood never learning that lesson. If you belong to groups that engage in “peaceful” blockades of fracking facilities or drill sites or pipeline sites, while shouting and screaming like you’re possessed, you might end up on a “watch list” by law enforcement. Why? Because some who act the very same way you’re acting tilt over into acts of lawlessness–sabotage and breaking things. It’s only prudent to keep an eye on groups of people who might be prone to such actions. But if you’re a spoiled child who grew up to be a spoiled adult, you take offense at being held to account for your actions because, well because YOUR actions shouldn’t have consequences. Your actions never had consequences when you were growing up–why should they now? We’re speaking about those who don’t like the fact that law enforcement–and yes, the drilling industry–keeps an eye on people who may be prone to breaking the law…
Case in point is Wendy Lee, a communist and philosophy professor at Bloomsburg University in Pennsylvania. (Why, exactly, do parents pay good money to send their children to that university? Good question!) Wendy didn’t like being questioned by a state trooper about trespassing at a compressor station site:
Lee is a 55-year-old philosophy professor at Bloomsburg University and proud anti-fracking activist.
“My long history of political activism is on the left,” she says. “I am the author of books with titles like ‘On Marx’ if that gives you an idea.”
She often travels to gas industry sites and takes photos. Her website is filled with criticism of fracking, and she’s used to getting criticized for her views.
Still, she was surprised last February when a Pennsylvania State Trooper came to her house to ask her about a visit she’d made to a gas compressor station.
On that trip, she was joined by two other activists and took some photos of the compressor. It wasn’t long before security guards told them all to leave.
“When they tell us to leave, we left,” she recalls. “There was no altercation. There was nothing.”
As the trooper stood inside her door, he questioned her about the incident. After a while, he brought up eco-terrorism.
Lee was stunned when he asked her if she knew anything about pipe bombs.
“Part of me was like, ‘Oh this is scary. This is actually scary.’” she says. “And part of me is just laughing on the inside because it’s ludicrous.”
Lee was never charged or arrested for anything.*
The Pennsylvania Trooper who questioned Ms. Lee was Mike Hutson. It rang a bell and when we trolled through the back articles we had written, we found that Trooper Hutson has been at this for some time. He investigated a string of pipe bombs found (along with other acts of terrorism) at drilling sites in four PA counties from 2012-2013 (see Domestic Terrorism on the Rise in PA Marcellus?).
Let us be perfectly clear: We are not saying, and not even remotely implying, that Ms. Lee has or had anything to do with pipe bombs and domestic terrorism. We’re quite sure she has not. What we ARE saying is that she should not be surprised that she might be considered a suspect because of her actions, her behavior in going where she had no right to go–and because of the type of activism she engages in. She’s running with a certain crowd, some members of whom cross the line. Law enforcement would not be doing their jobs if they didn’t consider all possibilities. She was investigated, and nothing came of it. Case closed. Move along.
The American Civil Liberties Union, perhaps the most un-American organization in existence, admits that sometimes anti-drillers cross the line. Witold Walczack is the legal director for the American Civil Liberties Union of Pennsylvania:
Walczack has represented fracking opponents as clients. He says a small percentage of activists resort to crime.
There have been reports of pipe bombs, charred debris, and gunshots fired at gas sites.
“But the vast majority of people who are involved today in the anti-fracking movement are law-abiding citizens.”*
Er, uh, OK. The “vast majority” of these nutjobs “peaceful protesters” are law-abiding–but not all of them! Where should Trooper Hutson look for those leaving pipe bombs at drilling sites–among landowner groups? Those who work for energy companies? Ah no. You look for them where they are–among the more rabid leftist elements in the anti-drilling movement.
For more on this story, including the claim that the industry and law enforcement “share information,” click the link below to read the full, biased story.
*Harrisburg & Philadelphia (PA) StateImpact Pennsylvania (Feb 2, 2015) – In fracking hot spots, police and gas industry share intelligence on activists
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GreenHunter to Coast Guard, We’re Barging While You Fiddle Around
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fiddle aroundAs MDN chronicled on Friday, there is a dispute between GreenHunter Resources and the U.S. Coast Guard (USCG) over what, exactly, constitutes “oil field waste” (see GreenHunter/Coast Guard War of Words — MDN Explains It). If we might toot our own horn for a moment, we were the first to understand and share that understanding of the key issue, which is whether or not produced water (“brine”) from horizontal wells is essentially the same chemically as produced water from vertical-only wells. That is what GreenHunter and the USCG disagree about. GreenHunter says it is the same thing, and the USCG isn’t so sure. On Saturday, our interpretation of that key issue was confirmed by USCG statements–they remain concerned that low levels of radiation, which may or may not be present in produced water from horizontal wells, DOES make shale well produced water potentially different from regular old produced water from vertical wells…
The Coast Guard’s lead chemical engineer said radioactivity found in drilling or fracking waste from the Marcellus shale formation would disqualify it from being barged on the Ohio River as so-called oilfield waste, as GreenHunter Resources is hoping to do.
However, GreenHunter Chief Operating Officer Kirk Trosclair said Friday his company still believes it has the authority to transport the wastewater via river vessels, adding that he does not believe there is any proof the material his firm will ship has elevated levels of radium.
Cynthia Znati, lead chemical engineer for the Coast Guard’s hazardous materials division, said the presence of radioactivity is the primary difference between “shale gas extraction wastewater” and the more traditional “oilfield waste.”
“The Marcellus shale is known to have elevated levels of naturally occurring radioactive materials, particularly radium,” Znati said. “From our perspective, that is the main hazard.”
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“Shale gas extraction wastewater remains at the agency level for discussion and future action,” [USCG Capt. R.V.] Timme said Friday.
For GreenHunter to ship waste under the provisions set forth in NCIV 7-87, Timme said the company would have to go through an application process that would include an evaluation of exactly what cargo would be shipped. Znati said GreenHunter would be permitted to barge this “oilfield waste” – if the company passed the test to prove the material is not radioactive.*
We don’t know about you, but it sounds to us like the USCG is intentionally prevaricating. Are they saying as long as the loads are tested for radioactivity and have a permit, GreenHunter can ship? Why does the USCG not use the more descriptive “brine” instead of “waste” as a term? What, exactly, are they saying?? Darned if we can figure it out. And it looks to us like GreenHunter isn’t waiting around for them to figure it out either. Looks to us like GreenHunter fully intends to begin shipments unless/until the USCG gets off it’s collective derriere after 3+ years and tells GreenHunter they can’t ship:
“GreenHunter Water will continue to transport ‘oilfield waste’ until such time as the Coast Guard ultimately decides on the proper definition of ‘shale gas extraction waste water’ and the rules under which such waste water can be transported. Once these rules are finalized, GreenHunter will comply with these rules and regulations,” Trosclair said Friday.* [emphasis added]
GreenHunter is saying they won’t intentionally break any official regulations, but the USCG hasn’t formulated any official regs yet, and so in the meantime, they’ll go with the existing regs which allows them to ship shale well brine (tested for radioactivity).
Meanwhile, the USCG continues to read more of the 70,000 form letters generated by anti-drillers as their excuse for more delays.
We see a court order for “cease and desist” coming from the USCG unless they man up and issue guidelines real soon. We don’t blame GreenHunter one bit for pushing the USCG out of their comfort zone and making them react. It’s the only way this will get resolved.
*Wheeling (WV) The Intelligencer/Wheeling News-Register (Feb 7, 2015) – Radiation Concerns Coast Guard Less
I'm not sure when, but I really think this company will make me rich.. I can see nothing to stop this stock from going to $10.00 unless something fundamentally with energy changes over night.. I've been in this thing for over 6 years through thick and thin.. :)
Looks like not till Wednesday Barn:
GREENHUNTER RES INC COM GRH: NYSE MKT LLC
Energy : Oil Well Services & Equipment
Q4 earnings are expected to be announced before market hours on 2/11/15Estimates: -0.040 | -0.050 | -0.060 (High | Mean | Low)
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Last Price Today’s Change Bid (Size) Ask (Size) Day’s Range Volume
0.80 +0.035 (+4.58%) 0.78 x2,200 0.80 x8,800 0.75 - 0.82 84,581
NYSE MKT LLC Real Time Quote Last Trade as of 3:43 PM ET 2/9/15
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Earnings Summary
P/E Trends
Analyst Trends
Revenue
Cash Flow
Earnings Summary
Next Earnings Date: 2/11/15
Thanks Barn!
How do you know earnings are reported tomorrow?
Mike
Yes, that was acknowledged in the conference call - they also bought huge chunks about a month ago on the open market.
Mike
I thought the call was ALL good - take a listen, only 50 minutes including questions..
Mike
Lot's of million dollar Mag Tanks being ordered.. :) Icing on the cake.. hitting on all 5 cylinders - condensate and water testing etc. etc. etc.. dominating any potential competition.
http://phx.corporate-ir.net/phoenix.zhtml?c=219127&p=irol-newsArticle&ID=2010625
This thing is going to $4.00 in a hurry..
Mike