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umbra...cool. sounds exciting. I love geopolitical surprises and world class anything. Sounds like you are leaning that way with descriptive terminology regarding what we have ins tore. Sounds good for us.
Slippery Wing. I agree with your idea that the chart makes the next few days look tenuous.
tamtam...methinks you are overexposed in this stock.....ya think?!!!
sahd3g..Don't know why this board is so dead. I am a new shareholder thanks to your information the other day. I'll show up here a bit more maybe now. I like to trade in and out of a stock but for some reason I didn't with ERHE. Pretty interesting what is going on with ERHE and I have only had that stock for 6 months. I'm not trading in and out of it.
Heh it's what,...6:00 PM in Nigeria? WTF? How long do these guys meet....don't they have any eating and drinking to do?
sahd3g...OK..thanks for your insight......I am with you as you know on these two.
sahd3g...what is up with the weakness in HDY? Being vastly oversold doesn't hold for very long anymore or WTF? What do you see there or what might you expect since you have been following that one ?
Oil pressure by Iran are reasonable. It's their resource. They have their own interests and goals.
sahd3g..I listened to you. THANKS a lot guy!!! I got in after checking out your oversold comments three days ago.....Nice move today (28%)....hehehehe.....got anything else like that up your sleeve?
redinvest I have read that book. That is an interesting theory and yes the World Bank has involvement in Sao Tome Principe
Get a load of this......"Following independence, the country had a centrally directed economy with most means of production owned and controlled by the state. The original constitution guaranteed a “mixed economy,” with privately owned cooperatives combined with publicly owned property and means of production. In the 1980s and 1990s, the economy of São Tomé encountered major difficulties. Economic growth stagnated, and cocoa exports dropped in both value and volume, creating large balance-of-payments deficits. Efforts to redistribute plantation land resulted in decreased cocoa production. At the same time, the international price of cocoa slumped.
In response to its economic downturn, the government undertook a series of far-reaching economic reforms. In 1987, the government implemented an International Monetary Fund (IMF) structural adjustment program, and invited greater private participation in management of the parastatals, as well as in the agricultural, commercial, banking, and tourism sectors. The focus of economic reform since the early 1990s has been widespread privatization, especially of the state-run agricultural and industrial sectors.
The São Toméan Government has traditionally obtained foreign assistance from various donors, including the UN Development Programme, the World Bank, the European Union (EU), Portugal, Taiwan, and the African Development Bank. In April 2000, the IMF approved a poverty reduction and growth facility for São Tomé aimed at reducing inflation to 3% for 2001, raising ideal growth to 4%, and reducing the fiscal deficit. In late 2000, São Tomé qualified for significant debt reduction under the IMF-World Bank’s heavily indebted poor countries (HIPC) initiative. The reduction is currently being reevaluated by the IMF, due to the attempted coup d’etat in July 2003 and subsequent emergency spending. Following the truce, the IMF decided to send a mission to São Tomé to evaluate the macroeconomic state of the country. This evaluation is ongoing, reportedly pending oil legislation to determine how the government will manage incoming oil revenues
http://en.wikipedia.org/wiki/S%C3%A3o_Tom%C3%A9_and_Pr%C3%ADncipe#Economy
Not me but I am keeping my eye on this.... I'll be in this again in the future for sure.
I happen to believe it is a good thing that SOMEONE...ANY agency is able to hold corrupt governments to account for natural resource revenues so that there is benefit to the people that are supposedly being "represented" by their own governments. The world can hardly afford, in this day and age of terrorism, to have corrupt governments lining their own pockets at the expense of the citizens while plundering the countries natural resources.
That game has been played LONG ENOUGH.
Kudos to the WORLD Bank for setting this situation up....good luck resolving it......"The World Bank and many advocacy groups want Exxon to stick to the original agreement, to underscore the importance of transparent handling of oil revenue in developing nations. Exxon and the oil industry have touted the deal as a model for fostering corruption-free natural-resources industries. In many countries, officials waste or siphon off oil revenue"
The WORLD Bank? do you really think the President of the USA could appoint the president of the World Bank if it was TRULY a World Bank? Not very likely. There would be a board of directors from all continents making that appointment.........World Bank is a front name for a US controlled bank. Simple as that.
TQS..yeah here is a thought. Does that EVER happen? Isn't that just in fairy tales or fantasy dreams?
Nice shakeout of weak hands today. I added some more @.66
Niko, you and Fishdog have me laughing at you two. I flew over that area for the first time a month ago and wondered what was going on down there. Looking down at all those bays and out into the Gulf......Sounds like you two are fishing fools.!!!!
stun...Nigeria already has it's hands full with rampaging Christians & Muslims. Authorities are trying to keep a lid on that along with out of control terrorists in the Niger delta. They have no time to take over Sao Tome surely.
Good find here guys. Thanks. I'm along for the ride.
GWNI looks very interesting. I find the gambling industry interesting now as it seems to be moving into more mainstream America with the poker craze. Not that it hasn't always been in the mainstream but it is higher profile now.From the DD and what I am reading this doesn't look like much of a gamble in an of itself. Ya gotta like that. I like what I am reading here so count me in.
Manti...OH YEAH baby...BRING IT ON!!!!
Apparently that is what was taken out of production over the weekened....over 400,000 barrels per day with the attack on Shells offshore facitlity and pipelines. The rebels suggest....get used to this.
OK Doug , thanks. Was just wondering. Sounds like from tha tarticel the Niger Delta is bracing for a lot of rebel action and perhaps this makes farther off shore wells etc. more valuable yet
1/4-1/3 of Nigerias Oil supply nocked out by the Nigerian Rebels over teh weekened and supposedly this will beocm fairly common place as Rebels concentrate on OFFSHORE facilities where they have not focused before.
Oil Prices Leap After Attacks in Nigeria
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By JAD MOUAWAD
Published: February 20, 2006
Oil prices rose 2.6 percent today after a series of violent attacks by militants in the Niger Delta that shut down nearly a fifth of Nigeria's oil production.
Brent crude oil for April delivery rose $1.57 a barrel to $61.46 a barrel on London's ICE Futures exchange. Trading in the United States was closed because of Presidents' Day.
Tensions in the oil-rich delta have flared since Saturday after militants kidnapped nine foreign oil workers, set pipelines on fire, and disrupted a major export terminal in the latest series of clashes against the central government.
As a result, Nigeria's oil production has been cut by 455,000 barrels a day out of a total of about 2.5 million barrels a day, according to Royal Dutch Shell, the main foreign producer in Nigeria.
The threat to oil supplies from Africa's largest producer comes at a time of heightened concerns over the security of supplies given the global tightness in production and the rising demand for oil. News agencies reported that the rebels had threatened more violence in a campaign to free two ethnic leaders.
Nigeria is the fifth-largest importer to the United States, after Mexico, Venezuela, Canada and Saudi Arabia. Nearly half of Nigeria's oil exports go to the United States.
"The incidents in Nigeria are happening at a time when geopolitical events seem to be happening at a near-continuous rhythm — such as production problems in Iraq, tensions in Iran and in Venezuela," said Frédéric Lasserre, the head of commodity research at Société Générale in Paris. "It's a long list and it fosters a climate of very volatile oil markets."
Nigerian oil is particularly prized by refiners, especially in the United States, because it is of a light, sweet variety that is easier and cheaper to refine than the thicker and sulfur-rich kind that comes from the Middle East or Venezuela.
According to Royal Dutch Shell, the Forcados loading platform, which is about 20 kilometers offshore, was set on fire and a pipeline was blown on Saturday. As a sign that the attacks seemed well coordinated, nine foreign contractors who were working on a pipe-laying barge were kidnapped, also on Saturday. They were three Americans, two Egyptians, two Thai, and British and one Filipino national, working for Houston-based Willbros Group.
Another pipeline was damaged by an attack today, said Caroline Wittgen, a spokeswoman for Shell in London.
Analysts said that the weekend attacks showed that the armed groups were willing to step up their pressure on the government by targeting offshore oil facilities, which had largely been spared so far.
"We would expect the potential for further chaos in Nigeria to provide a floor for prices above $60, and we expect that Nigeria will continue to be a major issue in terms of supply security," Kevin Norrish, an analyst at Barclays Capital in London wrote in a note to investors.
Armed ethnic groups in the Niger Delta, one of the country's poorest areas, have been fighting for years for a better distribution of the country's oil wealth.
Recently, they've stepped up their attacks against foreign oil companies, in protest against the government's crackdown on the theft of oil, a common practice known as "bunkering," and the arrest of a prominent militia leader.
Since mid-December, regular attacks in the Western part of the delta have regularly shut down about 10 percent of the country's crude oil production. Four foreign workers were abducted in January by a splinter group called the Movement for the Emancipation of the Niger Delta and were held three weeks before being released.
"Such escalating attacks are likely going to be the norm, rather than the exception, for the remainder of 2006," said the Eurasia Group, a New York based consultant. It said that the "well organized and sophisticated attacks against oil installations this year will likely regularly disrupt about 10 percent to 20 percent" of Nigeria's supplies.
One mitigating factor might be the high level of commercial stocks held in consuming countries, which is having a muting effect on the oil markets.
"The markets are very well supplies right now," said Mr. Lasserre. "Stocks are at a high level and buyers are not queuing up at the door of producers asking for more oil."
Mike It's OK. I have no idea how this plays out once it is pumped . What I DO KNOW is that the Nigerian Delta is going to get a whole lot less stable for oil companies. Starting today.
The oil has to come to shore does it not? My ignorance here. If the oil is pumped off shore does it get pumped STRAIGHT ONTO a ship.....Surely it goes to shore where it is vulnerable? No?
Nigerian Rebels, Terrorism what effect will that have on our ERHC Energy Share price?
As you know Nigerian rebels blew up one of Shell's main export facilities today and took hostages. If this GROWS what will this do besides drive up the price of oil on the world market?
yup..eeeeeeeeeehaaaaaaaaaaa..go SCU. Acclerating the coalbed methane technology development IS A GOOD sign for SCU. We are in an up and coming energy solution stock. I always like being in early, not too early that we get bloodied but early enough to maximize returns.
In short...what the hell happened...24% drop over what?
Perhaps it was an abberation. I see right now, (down 44%) that we are paying for whatever good vibe was happening the other day. The joys of this kind of investment I suppose.
Nice pop today and good volume but no news and apparently nobody else here noticing this move today. I guess nothing is up and we have an abberation on our hands then? Somebody is accumualating for some reason.
Rawnoc, I like your attitude of calling it as you see it. Being prideful is a terrible constraint in this business IMO. I as well am left holding having bought in around .34. Another lesson learned that taking a profit is not the greatest sin whereas ......waiting for the 10xbanger...IS often a sin of ommission. Greed is a bastard isn't it!
SCU does appear to have many energy industry experts on their board and management team when I look at that list. Nothing like previous battle scars and war experiences for maneuvering acompany to higher profitability.
I REALLY like the idea that the 900 pound gorrilla in the Natural Gas insustry....Encana....... has sought out SCU and plans on joint venturing with them. To me this is the sort of thing that SCREAMS......."Slewfoot....start to accumulate"!
Let's face it, just because the major media isn't screaming 50% natural gas price increases today.....it will all be back in the news agiain several times before this winter is over...IMO.
SCU is a company I will watch. I am always interested in rising STARS in the energy sector. Thanks.