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Brigham Exploration Company
6300 Bridge Point Parkway, Building 2, Suite 500 Austin, Texas 78730 U.S.A. Telephone: (512) 427-3300 Fax: (512) 427-3400 Web site: http://www.bexp3d.com
Public Company Incorporated: 1997 as Brigham Oil & Gas, L.P. Employees: 55 Sales: $72.23 million (2005) Stock Exchanges: NASDAQ Ticker Symbol: BEXP NAIC: 211111 Crude Petroleum and Natural Gas Extraction; 211112 Natural Gas Liquid Extraction; 213111 Drilling Oil and Gas Wells; 213112 Support Activities for Oil and Gas Operations; 541360 Geophysical Surveying and Mapping Services
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Brigham Exploration Company is an independent oil and natural gas exploration, development, and production company. It specializes in using 3-D seismic imaging technology to find onshore deposits. The company is no giant in the industry, despite its three million barrels of proven crude oil reserves and 100 billion cubic feet of natural gas reserves. However, it has been quite successful in its niche. Focused on exploration in its early years, the company in the late 1990s began to add substantial development activities. (Brigham hires subcontractors to handle drilling and production.) The company drilled 120 wells in 2004, more than half of them development wells. The family of founder Ben Brigham owns about 7 percent of stock; about 30 percent is held by Credit Suisse First Boston.
Origins
aero, you sound like you're a columnist sometimes, and a good one at that. anyway, i enjoy the reading. however, i've said it before, i firmly believe this is a long term stock, possibly longer than what we could perceive or imagine. speculation has already been over 2 years, it may be 3 to 5 years before we are really satisfied. again, no worry here- like you said, this is not a stock we have to watch everyday. also, remember it took rh 5 to 7 years to send his past companies into double figures. thomas
December 10 (newratings.com) - Analysts at Fundamental Research Corp initiate coverage of Canadian Zinc Corp (ticker: CZICF) with a "buy" rating.
In a research note published this morning, the analysts mention that the company owns the Praire Creek Mine, which is in advanced stages of development and has large silver, zinc and lead resources. The mine can be put into production within six months of receiving the final permits, the analysts say. Canadian Zinc needs to get one last permit for water, which is expected to take two years, Fundamental Research adds.
happy holidays, thomas
good stuff chisum- i keep bwn on my google finance bar, but had really forgotten about them for quite some time now. it seems like their price has been hammered here lately also, almost like everyone is waiting for results, no matter what the pr says. bwn was consistently around $2 for a long time, now down 10% today to $1.12. somethings gotta give. at least we can feel somewhat positive, that the speculative issues, are out of the way, and i say "somewhat positive", carefully,unlike a lot of other penny stocks. thanks again, thomas
i've emailed the relations dept. with everyones concerns, particularly yours aero, this is very uncharacteristic. haven't seen anything like it the past 2 years with them. all i can say is that this thing fluctuates with the rest of the market, like it has in the past. the dow is 12,7 again today, when it's 13 this stock is 1.50 when it's 13,5 this is 1.80 when it's 13,9 it's 2.15, when it's 14,this is 2.25+. what do you do? i know i've heard before here, that it does not affect us, but it does bottom line. horrible job on the company so far, but again what do you do? it's everyones personal decision. we know what we have here, we just don't know what the future holds for the rest of the markets.
sumi,
never done it before, but i can learn anything, it's just that i work 3 jobs and barely have time to even post.my email is triosh@netzero.net, so we don't waste space on this board, i can not post privately-sorry. thanks, thomas
i hope this thing does not test 52 week low of 1.29, but if it does, i'm going to load up- somehow. we are in an unfortunate time in the market, and will have to ride it out. everything i have is down, except for a couple of foreign stocks, but this is a staple of mine, and at the moment, it is killing me.well, have a good thanksgiving guys, and remember what this country was built on. God bless, thomas
sounds like everything, exploration wise, is increasing, and debt is decreasing. sounds good, thanks, sumisu
i've done a lot of homework on this and 5 others, all of which are what i consider safe investments- some people have made a ton of cash the last 2 major dips, if they were smart. i bought more the last couple of times, because of what we have learned about dejour. we know we have a $2 stock here at least- so every time speculation,fear or they just want to get out and invest in something else, it's time to buy more. frustrating in the short, but will pay off someday.
that's what i was hoping, when i saw that. of course several things run through your mind no matter what the news is- so let's hope your on the mark.
that's the answer i got.
Thomas,
The October 31 release was Titan’s third release of the month (Oct. 5, 9, 31). The content of Titan’s Press Release dated Oct. 31 was a basic update on our drill program. It was to inform that Titan has moved a drill to our Sand Hill Lake and Rook II properties to begin a 2000m drill program. This drill program is a continuation of existing drill holes. It will have 3 targets, two which have had previous drill activity, and the third that will be the first phase of drilling at the area.
I hope this has answered your question. Please do not hesitate to contact me directly with any other questions or concerns.
Regards,
Jessica
Jessica Karalash, B. Comm.
yeah that was nice, wasn't aero? i emailed them (jkaralash@titan) and was quite frank about the absurd pr, and asked them for a response in plain english. dejour always gets back with me right away, but i'm not sure about these people.
i'm looking more forward to aero's analysis, than the pr. where are you, aero?
no way, he never does.
just received an email from ian tootill (office of investor relations) and he said they were working on the release yesterday, will be here today, or at the very latest monday, regarding peace river. so we shall see
my apologies, i was looking at the annual avg. volume on google finance, which is probably wrong.
twice the avg. annual volume today.
well, i bought this thing at an avg of 1.95,a lot of stocks are taking a beating today, the dow is down,again, around 13,5. back in survival mode, it could always be worse.
CZN, looking like the days of old here lately- wished i had a few more shares in the 70's, you just never know, do you?
sumisu, i'm headed that way next saturday, orlando to be exact. we fly down there about four times a year, and love it, but not the humidity. been in dejour 1 1/2 years so far, actually found this stock in a taipan teaser and was skeptical, until following it for 3 months and then i decided it was time to buy. i'm not here for news to push it to 2.50 or 2.75, i'm here for 10+, that's all i'm concerned about. even if they post bad news from time to time, i don't care, because i know good news will soon follow. have a good time in florida. thomas
you're right, i'm way to nice, my wife tells me that all the time, but i'm happier that way, i used to be the opposite and was miserable. anyway, volume looking better and price, someone likes something. thomas
that's funny, i never noticed it.
Well, maybe not chisum- tomorrow is actually 10 business days, because of the holiday on monday, so let's give them the benefit of the doubt, they have been good to us in the past. being patient is the hardest thing, but it's good to go on vacation, and not have to turn the computer on to see where this thing is. thomas
man sumisu, how weird to see you here, i've had this stock for quite some time, but never thought about plugging in the symbol for it, since a lot of these pinks don't come up. jason hommel owns a ton of this stock, don't know if you've heard of him or not, he's a silver guru, anyway good to see somebody i've chatted briefly with before. i've done quite some research on dejour, this one, coronado, lynas and baja and they all seem sound. you got any others, you'd like to share? sorry can't do private post. later, thomas
also aero, though unlikely, it could be 10 business days, of which we would not see a pr til monday. just a thought. also it looks like it took robert an avg. of 5-7 years to send the other comp. he was involved in to double digit figures. i received an email from a comp. rep., but he was vague in answering my question, so i tried to do a little homework myself. and again, it probably does'nt even matter, except for the fact he has been successful in the past. later, thomas
just a matter of time guys, just a matter of time. i'm going to look into how long it took robert, to send the other companies he was involved in, into double digit figures. i believe he has done it to 3 or 4 others. whether they sustained or not, i'm not sure, but will find out. whether or not this even matters, i'm also not sure, but it might. dejour, i'm sure has a different structure, as far as land holdings and other imminent things. anyway, thanks for all the hard work aero, simusu, and timhyma. thomas
volume low and price holding. up 15.6% over the last week, not bad for a short play or long term hold, either way it looks fairly safe. good trading, thomas
no real news yet and this thing is doing well, good long term hold here.
hey silver, looks like you are a loner here, been looking at this stock for a little while now, and probably will purchase some within the next month or so. are you familiar with jason hommell? this is one of his major holdings. anyway, take it easy. thomas
On halloween 2006 canadian finance minister announce a plan to phase out, after 2011, the tax benefits enjoyed by Canadian income trusts. It was one of the biggest financial dislocations of the year.
At the time, I figured investors had overreacted. For a start, the policy wouldn't take effect until 2011, so dividends would continue as normal for another four years. Besides, with the 15% drop in the income trust index, I figured investors had already priced in the worst-case scenario for income trusts, so downside was limited. Besides, four years is a long time in politics. I anticipated the government might amend the law or scrap it altogether.
A few days after the announcement, I recommended 12% Letter readers buy Enerplus Resources, Penn West Energy, and Provident Energy – three of the largest, best-quality oil and gas income trusts in Canada. Right now, they yield an average of 12.5%. Looking back, we timed our buy perfectly...
Now look at the chart again. See how the income trust sector has taken another dive this month? That's fear associated with the credit crunch in the United States. Despite this recent fall, we're up an average 20% in these companies, with 10% coming in dividends. I think we have even more gains to come.
Ten months have passed since the Halloween trust shocker. In today's column, I want to tell you about another fantastic opportunity to emerge from this carnage: Canadian natural gas income trusts.
The Canadian natural gas market is extremely cyclical. In this market, you're either a contrarian or a victim. Right now in the Canadian natural gas market, fear and pessimism reign, the lingering result of the 2005 burst of an investment bubble.
In 2005, natural gas prices rocketed to $15 per thousand cubic feet (mcf) - an astronomical rise. That led to a flood of investment in natural gas projects. By early 2006, the price of natural gas declined, undercutting many of those projects. But the investment boom of the previous year left so much infrastructure in the field, it seemed Canada would never need another oil company, gas well, or pumping station again.
Then, add in the effect of the Halloween trust legislation and a stretch of favorable weather conditions in North America, and you have the worst possible conditions for the Canadian natural gas sector.
Roger Conrad, editor of Canadian Edge, a newsletter that covers exclusively Canadian income trusts, said this last week:
It's difficult to imagine the Canadian natural gas drilling market getting much worse. But at this point, though not quite the mind-bender the first exercise is, it's tough to see the recovery, too.
Many of the natural gas companies I follow in Canada are down more than 50% since the bubble burst in January 2006. Even the huge natural gas income trusts – with billion-dollar market caps – are down more than 40%.
It's my thesis that these cheap natural gas companies will be expensive again. Athabasca is my reason. The oil companies in Athabasca simply cannot manufacture oil without natural gas. Natural gas powers their plants and refineries. It's also used to generate steam. Steam is used to separate sand from oil.
As the oil companies in Athabasca ramp up production of oil by 300% over the next decade, they're going to need huge quantities of natural gas. Gas is hard to transport. So Canada's natural gas – located mostly in Alberta near the oil sand developments – will look very attractive
I think the oil-sand executives are aware of this problem, but right now, they're happy to ignore it. The pressure of dealing with Wall Street makes managers of publicly traded companies very shortsighted. Long term for Wall Street is next quarter.
The truth is, right now – and into the near future – the market has plenty of natural gas. So the oil company guys think, "Well, it might be a problem in the future, but for now we're OK, so let's not worry about it."
I can understand the oil companies not wanting to spend capital on nonessential projects. They have Wall Street breathing down their necks for quarterly results. They need to save their money for projects that generate immediate results. But at least, I would have expected investors to learn their lesson...
Fortunately, that never happens, because if it did, all financial markets would stop working. But that's a story for another time...
Today, we simply have to thank the investors who've panicked and sold their assets on the cheap. They don't know that when things get worse, they can only get better. We know things will get better... and we'll collect double-digit dividends while we wait.
Good investing,
Tom, daily wealth
yes futr, you are right- i had forgotten that!
Four Things You Should Know About Natural Gas
By Casey Research
In our April issue of the Casey Energy Speculator, we concluded that natural gas prices in North America have several bullish factors working in their favor.
This conclusion was based on a demand squeeze caused by declining North American gas reserves, exacerbated by the increase in consumption by Canadian oil sand operators.
In the months ahead, we'll bring our readers' attention to a variety of opportunities to profit from the resurgence in gas. But for this month, we thought it would be useful to set the stage by pointing out four things you need to know (and may not) about natural gas.
1. Canada and the U.S. Natural Gas Markets Can Take Different Paths
Although their day in the sun is coming fast, the share prices of Canadian natural gas companies have taken a hit over the past year. This was largely due to the rule changes in Canadian laws affecting the tax status of the Income Trusts. These trusts used to avoid corporate taxes by distributing most of their income to shareholders directly. Now, trusts will face corporate taxes. The change prompted a sector-wide sell-off.
In the U.S., however, gas companies have been on a tear. The market-weighted Dow Jones Oil and Gas Producers index of 373 publicly traded U.S. companies, has gained 33% in the past two years. The other key components of the U.S. natural gas markets, exploration, production, and equipment/service/distribution have also posted strong gains.
The important lesson here is that, unlike oil, the factors affecting natural gas tend to be much more localized. In the case of the Canadian issues, the success of the Income Trusts created hungry demand for producing gas companies to keep the pipeline full and the distributions flowing. That created something of a market anomaly that was quickly and sharply corrected by the change in legislation.
As is so often the case, the Canadian sector is almost certainly oversold, with excellent companies now going at fire sale prices.
2. Weekly Supply/Demand Data Is a Poor Indicator of Market Trends
Equity markets tend to overreact to the weekly supply/demand data released by the Energy Information Administration (EIA). Even by the EIA's own admission, the data released every Thursday can be – and often is – revised. Therefore, a longer-term perspective on the data is necessary: Only by looking at the numbers in the context of months rather than weeks can a sense of the market trend be developed.
As an investor in this sector, it's important to have a longer-term perspective. And the long-term trend is our friend. Simply, if you're on board with the inevitability of rising gas prices, you can use any share weakness triggered by a Thursday EIA report showing an unexpected fall-off in demand, or higher-than-expected supply, to add to stock positions.
3. Oil Prices Influence Natural Gas Prices... But Usually Only After a Time Lag
Despite perceptions to the contrary, the correlation between the price of natural gas and oil is not immediate. For one, natural gas prices are not nearly as influenced by geopolitics as world oil markets are. So, a bomb going off in a Saudi Arabian refinery may send oil traders scampering for cover... but would be of only modest interest to those on the natural gas desk.
That's largely because, as mentioned a moment ago, natural gas is more of a regional market, and by region, we mean that it differs from continent to continent, even from country to country and state to state.
Even so, in "The Relationship Between Crude Oil and Natural Gas Prices" released by EIA, Frederick L. Joutz shows a significant correlation between natural gas prices and those of oil. The study makes a good case that when a temporary spike of at least 20% occurs in the price of WTI crude (West Texas Intermediate crude oil), it has a 5% contemporaneous impact on natural gas prices.
But over time, the impact can be much more significant. Our studies have shown that, all things being equal, a sustained price shock of 20% or more in the WTI leads to a 16% increase in the Henry Hub quoted price for natural gas one year out. As oil prices continue to move upwards, natural gas prices will also; but there is a definite lag.
4. Natural Gas Futures Are a Key Driver of Gas Prices
Each day something on the order of $7.2 billion in natural gas contracts trade hands on futures markets, with open interest at any given time closer to $60 billion. There is little question, therefore, that futures markets are an important driver.
For instance, the natural gas futures market may influence how much gas an operator produces under a contract and how much they submit to storage. Paying attention to the pricing of futures markets can, therefore, be a strong indicator of whether you as an investor should buy into a natural gas-weighted stock issue today – or perhaps wait a few months.
Middlemen in the gas supply chain watch spot and futures prices closely. When futures prices are higher than spot, they buy cheap on the spot market (either from gas producers or other traders) and sell forward at higher prices, locking in a mark-up. But forward sellers then need to store the gas for a few months, either in a facility they own, or in a third-party facility that rents space. Thus, when futures prices are significantly higher than spot, gas in storage grows.
The flip side is that when spot prices rise above futures prices (usually during times of high demand, like the winter heating season), gas owners will sell everything they have on the spot market. If you can get a good price now, why pay storage costs?
Our Conclusion:
Old methods for evaluating significant changes and trends in prices are no longer good as stand-alone barometers. In addition, the notions that market efficiencies will largely determine a company's market valuation, and that every company pumps as much natural gas as it can, are no longer reliable.
In sum, a regional free-for-all is brewing. U.S. and Canadian gas consumers will be competing for a diminishing supply of natural gas. Prices could return to all-time highs. Bad news for people trying to heat their homes, but for gas producers it's a windfall.
they halted trading for that?
did'nt have a chance, was on the beach in the outer banks of north carolina. he usually does a real good webcast though, i actually emailed him a question on the last one, and he addressed it. i was impressed, but it is the same old stuff, about what the company has and where it is heading, it's just good to hear it. thomas
Dejour Webcast Alert:
What: Dejour's CEO will host an informedinvestors.com prestentation
When: tuesday, 8-28 @ 11:00am eastern
Where: http://www.inverstorcalendar.com/ClientPage.asp?ID=118929
How: Live over the internet- simply log onto the website above.
Contact: investor relations 1.866.888.8230., investor@dejour.com
titan from .65 on 8/16 to 1.17 yesterdays close. it was hard not to panic sell boys- but i held on. i guess the smart thing would have been to sell at a buck and buy back at .65. but then again if we had that foresight we would'nt be chatting on this board. have a good weekend guys, get out and enjoy your time while you are still here. thomas
the last 3 out of 4 r/s and r/m's i've had the next day was zero volume
hey willie boy, i'm still sitting on 180k shares of civx @.13, football might be a better bet sometimes.
wow, that's all i can say. birch mountain down in the dollar range also, along with several other stocks down 50% or more. aero, it's just not titan anymore, this is crazy. this is worse than terrorism.