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SA - What are your thoughts on WNWG? Looking oversold here. Thanks
Hi BB could you please post an annotated chart for WNWG whenever you have any free time, Thanks.
Wentworth Energy signs three-year lease and joint operating agreement with Marathon Oil Company
Nov 03, 2006 (M2 EQUITYBITES via COMTEX) -- Wentworth Energy Inc (OTC BB:WNWG.OB), a diversified energy company, said on 2 November that it has signed a three-year lease and a joint operating agreement with Marathon Oil Company (NYSE:MRO) for exploration of approximately 9,000 acres of Wentworth Energy's mineral block in Freestone County, Texas.
Marathon gets the right to drill deep gas wells on the minerals and the opportunity to partner with Wentworth Energy on drilling upper zones (above 8,500 feet) on a 50/50 basis.
Under the agreement Marathon has secured an exclusive three-year lease on approximately 9,000 acres within the East Texas Deep Bossier Trend, while the joint operating agreement sets the terms for the two companies to partner in developing the zones above 8,500 feet.
Wentworth Energy's drilling services subsidiary, Barnico Drilling Inc, will be the drilling contractor for the joint operating agreement on any wells drilled from 0 to 8,500 feet or to the base of the Rodessa formation.
In addition Wentworth Energy will acquire a seismic licence giving it access to all seismic data collected during Marathon's three-year lease of the minerals.
Wentworth Energy signs three-year lease and joint operating agreement with Marathon Oil Company
Nov 03, 2006 (M2 EQUITYBITES via COMTEX) -- Wentworth Energy Inc (OTC BB:WNWG.OB), a diversified energy company, said on 2 November that it has signed a three-year lease and a joint operating agreement with Marathon Oil Company (NYSE:MRO) for exploration of approximately 9,000 acres of Wentworth Energy's mineral block in Freestone County, Texas.
Marathon gets the right to drill deep gas wells on the minerals and the opportunity to partner with Wentworth Energy on drilling upper zones (above 8,500 feet) on a 50/50 basis.
Under the agreement Marathon has secured an exclusive three-year lease on approximately 9,000 acres within the East Texas Deep Bossier Trend, while the joint operating agreement sets the terms for the two companies to partner in developing the zones above 8,500 feet.
Wentworth Energy's drilling services subsidiary, Barnico Drilling Inc, will be the drilling contractor for the joint operating agreement on any wells drilled from 0 to 8,500 feet or to the base of the Rodessa formation.
In addition Wentworth Energy will acquire a seismic licence giving it access to all seismic data collected during Marathon's three-year lease of the minerals.
WNWG signs Joint Operating Agreement with Marathon Oil Company (NYSE: MRO)
Wentworth Energy and Marathon Oil Sign Three-Year Lease and Joint Operating Agreement
PALESTINE, TEXAS, Nov 02, 2006 (MARKET WIRE via COMTEX) -- Wentworth Energy, Inc. (OTCBB: WNWG) announced today that it has signed a three-year Lease and a Joint Operating Agreement with Marathon Oil Company (NYSE: MRO) to explore approximately 9,000 acres of Wentworth Energy's mineral block in Freestone County, Texas. The agreements give Marathon the right to drill deep gas wells on the minerals and the opportunity to partner with Wentworth Energy on drilling upper zones (above 8,500 feet) on a 50/50 basis.
Marathon Oil has secured an exclusive three-year lease on approximately 9,000 acres within the East Texas Deep Bossier Trend, while the Joint Operating Agreement sets the terms for the two companies to partner in developing the zones above 8,500 feet. In addition, Wentworth Energy's drilling services subsidiary Barnico Drilling, Inc. will be the drilling contractor for the Joint Operating Agreement on any wells drilled from 0 to 8,500 feet or to the base of the Rodessa formation. As part of the agreement Wentworth Energy will acquire a seismic license giving it access to all seismic data collected during Marathon's three-year lease of the minerals. Plans are in place to conduct extensive seismic research on Wentworth's property, which is expected to provide valuable new information on potential oil and gas prospects on the mineral block.
"This is a unique opportunity for Wentworth Energy to dramatically accelerate the development of our property and increase the number of wells to be drilled on our 27,557-acre mineral block," said Michael Studdard, Wentworth Energy's President. "As an example, based on an 80 acre well spacing, there could be in excess of 100 drilling locations on this 9,000-acre section of the mineral block. Not only can we look forward to a royalty if these wells are successful, the Agreements partner us with Marathon on development of the shallower Woodbine and Rodessa formations."
"The cost of drilling a deep well (10,000 feet to 18,000 feet) runs in the neighborhood of three to five million dollars," said John Punzo, Wentworth Energy's CEO and Chairman. "By joining forces with one of largest energy companies in the Country, we have an opportunity to dramatically increase the amount of drilling taking place on our minerals and capitalize on Marathon Oil's enormous expertise and knowledge base. The seismic license gives us access to all 3D seismic Marathon decides to shoot on the minerals, providing us not only with access to important data on the 9,000-acre section but on our neighboring mineral acreages as well."
About Marathon Oil
Marathon is the fourth-largest U.S.-based fully integrated international energy company engaged in exploration and production; integrated gas; and refining, marketing and transportation operations. The company has exploration and production activities in the United States, the United Kingdom, Angola, Canada, Equatorial Guinea, Gabon, Ireland, Libya and Norway. Marathon is the fifth largest refiner in the U.S. with 974,000 barrels-per-day of crude processing capacity in its seven-refinery system. The Company's retail marketing system comprises approximately 5,600 locations in 17 states; nearly three-quarters are Marathon brand locations. Marathon serves the Midwest and Southeast as a petroleum products marketer with 85 light product and asphalt terminals and access to approximately 7,700 miles of pipeline. For more information about Marathon, visit the Company's Web site at www.marathon.com.
About Wentworth Energy, Inc.
Wentworth Energy, Inc. is a diversified energy company focused on the responsible development of America's natural resources while maximizing shareholder value. Wentworth Energy applies innovative technologies toward the discovery and development of a diverse portfolio of high-value, low-risk energy projects in North America, including the oil and gas fields of East Texas. Wentworth Energy owns a 27,557-acre mineral block in east central Freestone County and west central Anderson County in the active East Texas Basin, as well as an active oil and gas contract drilling company that has serviced East Texas drilling demand since the late 1970s. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," and certain of the other foregoing statements may be deemed "forward-looking statements." Although Wentworth Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors.
Contacts:
Wentworth Energy, Inc.
Barry Forward
Corporate Communications & Investor Relations
1-800-725-9149
Website: www.wentworthenergy.com
SOURCE: Wentworth Energy, Inc.
CONTACT: http://www.wentworthenergy.com
Copyright 2006 Market Wire, All rights reserved.
Ragingbull down? Anyone else having problems with the RB website?
Just depends how you play it and how much risk you are willing to take. The stock market isint for everyone. If you invest in OTC and PK stocks, you are taking a elevated risk but, if do your DD and develop a strategy and stick to it. It is very possible to succeed. And also, for the people that invest in stocks like QBID, CMKX, etc. They deserve to lose money especially for those who hold as a long term “investment”. Junk like that is a quick trade at best. Good luck to you.
What do you guys think about yesterdays events in North Korea? Think it will have effect on todays market?
Thanks
Does the OTC market close early today? TIA
Damn, really reverse split? I was thinking about getting in CHID here soon too. Probably wont even consider it now.
eyeneye
Do you believe the short position increased in TIV this week? You speculated a while ago that the naked short position was in the 1 million share range based on the intervals of the large 100,000+ after trades we see nearly on a daily basis and the legitmate short position was in the 3.5-4 million range. It would almost seem that the naked short position must be near 2 million shares after such a high volume week with so much heavy buying. Where are these shorters getting all these shares from?, while legitimate shorters cant locate any shares to short? How can this keep continuing? Ive heard several traders say they tried to short TIV at $9 on Thursday, They are legitimate short sellers though but, thier brokers couldnt locate any shares for them to short. It almost seems that these big shorters have an infinite amount of naked shorts to use at will. How much longer can they stick their neck out like this and still get away with it? Are they just trying to delay? Do you believe delaying will be effective for their positions? Thanks for all your responses, you have been very helpful to me.
Yesterday was BS, obvious manipulation. Heaving buying the first half of the day that should of took the price to $10+ on 300,000+ volume and then the price drops $1.10, down low as $8.10 on just 50,000 shares in a few minutes. I cant believe stuff like this is allowed to go on. Looks like that short squeeze isint going to be so easy, oh yeah that 150,000 block, what was that a buy? or cover? Or possible naked shorts being traded during the day? There was a 50,000 block also and after hours there was a 193,000 share block. There definitely some illegal things going on with this stock to hold it down, I dont see how they can get away with it with no consequences.
Yeah this is great. I saw a sale go under the bid at 8.44 when there was bids at 8.60 or 8.70 They are desparate arent they?
TIV just hit $9.00 9.15 x 9.17
TIV 8.84 x 8.90 new high of day
TIV up another .57 today
Youre joking right? TIV is up 45% in the last 5 trading days alone. Going much higher also.
It may drop a tad lower but, I wouldnt wait to long if your looking for a position, could take off without you. Good luck
I did hear Cramer rated TIV bearish last year but, With all the talk about high oil prices to come, I doubt he would rate TIV anything less than a buy right now currently. Remember Forbes Guru rated TIV a buy last week.
I read a post on the TIV yahoo board that TIV will be on the show called Mad Money. Jim Cramer can have an effect on stocks that he promotes, would be nice if that is true. Ive read some of thier posts before, they have been right so far. And you have been dead on your predictions also. You said the other day that you thought the after hours trades were naked short shares being traded between accounts to keep TIV off the NSS list. But at what point will these naked shorts have to be covered?
$12 should spark a huge run. All those shorts will be in the red at that point. Alot of them are gonna get slaughtered and there isint anything they can do about it. Great stuff, how many shares do you think the shorts covered today? They got a long ways to go, oh yeah I saw a 23,500 share block at $8.24 get eaten at the ask in seconds. Think they are just diggin the grave deeper?
Setting the bar high aint ya? But it does look very possible at this point. Cant wait till we hit $12...
TIV up $1 today alone. 8.70 x 8.71
TIV working on the 200 DMA, TIV busted through the 50 DMA last week. Big short squeeze play.
TIV just hit $8.50
TIV just hit $8, 8.06 x 8.06
TIV - Short squeeze starting 7.93 x 7.95
TIV Another .30+ gain today, closed near high of day yet again.
TIV uting 7.51 x 7.60
So, BOD member Thomas Gamble of TIV is related to the Gamble family of Proctor and Gamble, I didnt know that. Very interesting... Well it seems the shorters have messed with the wrong company at the wrong time. This may get ugly fast for those shorters in TIV but, its gonna make the rest of us longs significant gains. They may be lucky to be able to cover at $20.
If that is the case, a "negative" float. We could see quite a run here, no telling where TIV could end up. The largest shareholder has 1.4 million shares and Blystone owns 400,000 shares. I believe those are the two largest inside shareholders, im not sure about the rest of the inside shareholders. Its gotta be close to 3 million or so held by insiders alone.
Yes, TIV is the perfect candidate for a short squeeze. 22 million O/S, less than 20 million float. 4 million+ shares shorted plus the possibility of naked short shares. Id say most of the shares shorted are probably in the $10-$12 range. I watched the level II the other day, it definately appeared they were doing thier best to hold the PPS down despite the heavy buying at the ask but, it didnt work. As for the Russell, I was just saying it was a possibility but, maybe your right. This russell delisting could mean nothing if it does or doesnt happen.
Thanks for the reply, very interesting take. I have every intention of holding but, I just have that one concern. The reason I say the delisting is a concern is due to I believe the possible delisting is the only material event within the next 2 months that could potentially work in the short sellers favor, other than that I think the big shorters in TIV have an uphill battle to say the least if this recent buying pressure continues. If TIV reaches $10 or more, I think thats when the large shorters really start covering. So, far it looks like your group of investors are winning the war. GLTY
I bought in TIV at $5.75-$6.10, this week has been incredible, 6 consecutive days with gains, TIV 24% gain in the last 3 days alone. But what are your thoughts on the after hour trades? There has been several 100,000+ block trades almost everyday the past couple of weeks. Do you have a theory on what is happening with these trades? Is this real or fabricated? Shorts covering or something else other than that? And also do you know what the requirements are to stay on the Russel 2000 index? Is there a minimum market cap or PPS to stay listed? How serious do you believe the possibility of TIV being delisted at the end of the month is? TIV being delisted off the Russel index is my only immediate concern at the moment. Thanks
BB, Could you update the TIV chart whenever you get time? TIA, TIV has been strong this week and the volume has been impressive.
TIV uting 6.83x6.87 Forbes.com Guru Pick
Forbes.com Guru Pick on 5/24/06
Bakersfield, Calif.-based Tri-Valley (amex: TIV - news - people ) produces oil and natural gas. Unlike most oil and gas companies, Tri-Valley is down over the past 52 weeks, having lost about half of its value in that time. Rising expenses knocked the bottom line from a 2004 loss of $1.2 million to a 2005 loss of $9.7 million, despite strong revenue gains. The company has been saying this spring that it will dig its wells deeper in order to get more natural gas. Gurus thought that sounded like a good plan and bought in last week.
Guru Buys:
Tri-Valley (amex: TIV)
Ziprealty (nasdaq: ZIPR)
China Life Insurance (nyse: LFC)
Bucyrus International (nasdaq: BUCY)
Zoll Medical (nasdaq: ZOLL)
Guru Sells:
EchoStar Communications (nasdaq: DISH)
First Bancorp (nyse: FBP)
Euronet Worldwide (nasdaq: EEFT)
Dril-Quip (nyse: DRQ)
American Retirement (nyse: ACR)
http://www.forbes.com/2006/05/23/echostar-euronet-ziprealty-in_mr_0523gurupicks_inl.html?partner=yah....
The perfect play oil, gas, and gold. Doesnt get any better than that. Oil prices over $70 a barrel and gold currently around $700 an ounce. TIV has lots of potential.
TIV has seen lots of buying pressure the past week or so on no news, the stock has obviously seen its bottom. Uptrend started, just wonder when the shorters start covering. Would be nice to see an update from the company on the Temblor fields and Pleasant Valley properties.
TIV - Forbes.com Guru Pick
Forbes.com Guru Pick on 5/24/06
Bakersfield, Calif.-based Tri-Valley (amex: TIV - news - people ) produces oil and natural gas. Unlike most oil and gas companies, Tri-Valley is down over the past 52 weeks, having lost about half of its value in that time. Rising expenses knocked the bottom line from a 2004 loss of $1.2 million to a 2005 loss of $9.7 million, despite strong revenue gains. The company has been saying this spring that it will dig its wells deeper in order to get more natural gas. Gurus thought that sounded like a good plan and bought in last week.
Guru Buys:
Tri-Valley (amex: TIV)
Ziprealty (nasdaq: ZIPR)
China Life Insurance (nyse: LFC)
Bucyrus International (nasdaq: BUCY)
Zoll Medical (nasdaq: ZOLL)
Guru Sells:
EchoStar Communications (nasdaq: DISH)
First Bancorp (nyse: FBP)
Euronet Worldwide (nasdaq: EEFT)
Dril-Quip (nyse: DRQ)
American Retirement (nyse: ACR)
http://www.forbes.com/2006/05/23/echostar-euronet-ziprealty-in_mr_0523gurupicks_inl.html?partner=yah....