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Axis 2nd quarter financials have been filed....
http://www.otcmarkets.com/stock/AXGC/filings
HDY - coming off double bottom and closed above 20 day moving average. $41MM in cash and no debt. Only 20 million shares outstanding and drilling a billion barrel prospect in a few months. See 2 charts below... 1 year daily and 3 year weekly. Look at the full sto on the 3 year weekly chart... higher lows and higher highs. Also notice the CMF on the weekly.
Vegas
I think your concern for a bearish head and shoulders would be more valid if the price had been coming from a lower point in the April to June period, but if you look at the weekly chart that Stockfather posted, you can see the price was in the $5 to $6 range last year. Therefore, it looks more like a reversal here, so I like the upside potential.
Another masterful call. Be interesting to see how high she goes!
Libya’s Oil Production Stable At 600,000 BPD
Posted on 23 October 2013.
As the government works to end protests at fields and ports that have cut shipments for months, Libya’s oil production has stabilized at around 600,000 barrels per day (bpd) over the last month, according to the National Oil Corp. (NOC).
Striking workers, militias and political protests caused a decline in the OPEC member’s oil output to as low as 200,000 bpd, but Libya was able to resume production from some fields in the west in mid-September after reaching a deal with some of the protesters.
“The government is still resolving the problem to reach normal production of 1.6 million bpd by the end of the year. We have the technical capacity; it is a problem of security,” NOC board member Mustafa Sanalla told Reuters on the sidelines of a North Africa oil conference in Tunisia.
That instability was driven home earlier this month when armed militiamen briefly kidnapped Prime Minister Ali Zeidan for several hours before releasing him unharmed.
Libya’s turmoil has added to the jitters of foreign oil companies already skittish about the political and investment outlook in North Africa.
According to Reuters, at least seven companies, most of them based in the United States, have left projects or sold stakes in Libya, Algeria and Egypt in the past 18 months. But while analysts say North Africa may be less attractive for U.S. majors, the region’s proximity still makes it appealing to European oil explorers.
(Source: Reuters)
Sanalla Advocates Completion Of New Oil Law
Posted on 23 October 2013.
Libya and Algeria are among Africa’s top four oil producers, and alongside Egypt, are major suppliers of gas to Europe.
According to Reuters, NOC board member Mustafa Sanalla has said that the Libyan government should finish drafting a new oil law as an incentive to foreign oil companies by the end of this year or early next year. The government said last year it would seek to improve terms for foreign companies.
Sanalla added that the approval of that law would allow Libya to hold another round of bidding by the first half of next year. “Despite security worries, companies in Libya have drilled 40 development wells and 11 exploration wells this year,” Sanalla said.
Libya has reserves of over 40 billion barrels, but analysts have warned that the country has some of the toughest terms in the business, which could deter investors when combined with security concerns.
Reuters reports that Exxon Mobil said in September it would cut back its staff and operations in Libya due to growing instability. However, European oil and gas companies still have a major presence in the country, and throughout the region.
Repsol regional director for Europe, Asia and Africa, Ferdinando Rigardo told Reuters the company was pushing ahead with development plans in Libya and Algeria.
HDY will fill that gap as they are drilling a billion barrel prospect (Tullow is drilling it and they have a very high success rate) in a few months. If they come out with 100M barrels of proven reserves, that would value the stock around $50 per share based on proven undeveloped deepwater reserves being valued at $10 per barrel and HDY having 20M shares outstanding.
The beauty of low floaters is that you can get insane moves!
Great calls on CSUN and NBG!
I know. I was shocked to see a trade today, lol.
Incredible!
His lessons were great!
OMV’s 1st Oil Find in Libya since Revolution
Posted on 22 October 2013.
Austria’s OMV and its partners have discovered oil in Libya. The successful exploration has been made in the Murzuq Basin, 800 km south of the capital Tripoli.
Jaap Huijskes (pictured), OMV Executive Board Member responsible for Exploration and Production:
“This discovery in Libya confirms the potential of the country for OMV’s upstream activities.“
Repsol, the operator of exploration block NC115, and partners OMV and Total will proceed with further drilling in the area. The drilling campaign started in May 2013 and is expected to last until the end of 2015. The new discovery is the first oil found in Libya by OMV and its partners since the revolution in 2011.
OMV has been present in Libya since 1975 and started production in 1985. In 2012 OMV produced 29,500 boe/d in Libya.
Libya After Gaddafi: Lawlessness Remains Problem
Posted on 21 October 2013.
Two years after Libyan leader Muammar Gaddafi’s death, the oil-rich country is still dominated by destroyed buildings, a fragile economy and instability caused by separatism and rule by armed militias.
Those who remained in Libya following the civil war face day-to-day conflict, not only between government supporters and opponents, but between different militant groups, who are fighting for money and power in the mainly lawless country:
I think it's going 7 games. 2 great teams. Wish it was Dodgers-Yanks, like back in '77,'78 and '81.
Here you go Bob...
http://stockcharts.com/school/doku.php?id=chart_school
NTS... Buyout at $2.00 per share.
I like the charts on both CSUN and NBG. CSUN will be running into resistance soon at $6.48 and then $6.95. If it can break through, then it should continue to run. CSUN does have a lot of debt though, at over a half Billion dollars! Last thing I read on it said that most of it is due at the end of the year. More DD would be required on this though.
As for NBG, I don't really play options, but the chart looks to be in a nice uptrend!
Good luck with both! You and Stockfather are masters! Wish I had more time and money to trade! Someday
Still a masterful trade by you, but yes it is hard to watch it keep going higher after selling it.
Good point. I was just using the numbers from Yahoo Finance, which are often outdated, but it's a really quick way to get a general idea of the cash to debt ratio.
FREE... Balance Sheet
Total Cash (mrq): 29.00K
Total Cash Per Share (mrq): 0.01
Total Debt (mrq): 89.61M
$29,000 in cash and almost $90,000,000 in debt. That is a pretty good indicator that there will be dilution. NEWL is similar with $1M in cash and $153M in debt, so this current pop should be sold within the next day or two IMO.
Good DD. Yes, Gluten-free is a good move! Nice chart also with it breaking the trendline. The Crumbs in Greenvale is only about 5 minutes from me.
Libyan Oil Fields Increasing Supplies
Posted on 15 October 2013.
According to Prime Minister Ali Zeidan, Libya is currently producing between 600,000 and 700,000 barrels of oil per day after striking workers, militias and political activists slowed the country’s oil production to as low as 200,000 bpd during the month of September.
Libya took steps toward resuming output in the western portion of the country during mid-September after reaching a deal with some protesters. Oil Minister Abulbari al-Arusi said on Oct. 2 that full output could be restored within days.
Prime Minister Zeidan gave a recent update saying that Oil production is now between 600,000 and 700,000 bpd, and that the government and parliament were working on solving the conflict soon.
Talks to reopen the major oil export terminals of Es Sider and Ras Lanuf in the east have taken a significant amount of time because, while some protesters are demanding better benefits, more local investment and more jobs, other protesters have linked their demands to the political direction of the future shape of Libya.
According to Reuters, protesters in the east want a federal Libya with greater powers and the headquarters of the National Oil Company (NOC) transferred to Benghazi, the capital of the east and birthplace of the revolution that removed Qaddafi from power.
(Source: Reuters)
I know. That is crazy. Bring on the whiskey!
Oil Production Improved, but Wafa Gas Shut
Posted on 30 September 2013.
Libya’s Oil Ministry Measurement Director, Ibrahim Al Awami, has told Bloomberg that oil production has recovered to more than 700,000 barrels a day, nearly 45 percent of installed capacity, due to higher output from the western region.
The 8,000-bpd Hamada field resumed operations this weekend and is sending crude to the Zawiya export terminal, while the main producing fields now are El Feel [El Fil, Elephant], Sharara, Wafa, Brega, Al Jurf and Bouri.
The Arabian Gulf Oil Co. (AGOCO) is also producing 23,000 bpd from fields in the east, including Sarir and Messla which are supplying the 20,000 barrel-a-day refinery in Tobruk.
Libya’s main producing fields now are El Feel (Elephant), Sharara, Wafa, Brega, Al Jurf and Bouri, he said.
Meanwhile, Libya Herald reports that production from the Wafa gas field, which supplies Italy through the Greenstream pipeline, was halted on Sunday by industrial action, with striking workers demanding better benefits and conditions and the creation of more jobs.
(Source: Bloomberg)
I need it, lol.
Tankers Hired to Ship Libyan Crude
Posted on 25 September 2013. Tags: BP, Galbraith’s, oil exports, Poten & Partners, Repsol, TotalOil companies have reportedly booked eight tankers to load Libyan crude, which is being seen as a positive signal for Libyan oil exports following the disruption of recent months.Bloomberg compiled the information from four shipbrokers including Poten & Partners in New York and Galbraith’s Ltd. in London, and reports that BP, Total and Repsol are among the companies chartering the vessels.The tankers comprise two Suezmaxes which can hold 1 million barrels of crude each, and six Aframaxes with capacity of about 600,000 barrels each.One vessel was booked to load part of its cargo in Libya and another part in Egypt, according to the reports. One of the cargoes is condensate, fuel that’s produced during oil extraction and is equivalent to extra-light crude.(Source: Bloomberg)
Libya Moves in the Right Direction
Posted on 24 September 2013.
Oil production has recovered considerably over the past week, with rates now reported to be in excess of 600,000 barrels per day, well above the 100,000 bpd rate to which it had fallen a couple of weeks ago, but less than half of the 1.3 million barrels that it hit in June.
Before the revolution, Libya was producing 1.6 million bpd, and according to a senior executive at Repsol, it could get to two million bpd with a little investment.
That investment, of course, depends on confidence, and that confidence has been one of the main victims of the strikes and unrest; Exxon Mobil, for example, has announced that it is reducing its staff in Libya due to security concerns.
But in a timely visit to Libya, the Chief Executive of United Kingdom Trade and Investment (UKTI) Nick Baird pointed out that Libya “has huge potential, resources and entrepreneurial people”. It’s good to be reminded of that fact.
2014 Licensing Round May Include Gas
Posted on 21 September 2013.
Spokesman for the National Oil Corporation (NOC) has said that Libya may offer areas containing natural gas in its next auction of energy-exploration rights, which is planned for next year.The company’s petrochemical and gas superintendent, Mansour Emtir, told Bloomberg:“It is possible that the bidding round could include gas … We need more gas for our power plants and for petrochemical projects.”NOC Gas Committee Chairman Jamal Hawisa added that Libya’s gas reserves are “largely unexploited and unexplored”. The North African country may contain 100 trillion cubic feet of gas, almost double its 54 trillion cubic feet in proven reserve, he said.“Recent studies indicate large gas reserves in western Libya."
LOL, I know. 2 million bpd is fantasy land right now. We're down to a trickle of around 100,000 bpd. Bring on the whiskey!
I've been telling you to just keep it