Apex Resources Inc (SLMLF)

[Kimber1911]

I dont think this one is over just yet, take a look at this:

Ship transit through the Bering Strait, the gateway from the North Pacific Ocean to the Arctic, more than doubled between 2008 and 2012. And as of this week 495 ships had received permission to travel Russia's Northern Sea Route this year up from zero just five years ago. Some experts predict that by 2030, the route will carry a quarter of all trade between Asia and Europe. Others are skeptical that harsh and costly crossings of the Arctic will ever compete with southerly routes for shipping cargo, but they see ship traffic increasing nevertheless as nations seek to reap newly accessible resources—oil, natural gas, minerals, and fish—at the top of the world.

It is easy to see that a market for Arctic ship travel is dramatically increasing, and as it increases there is hope for the beaufort sea. They may not get the pipeline, but they may be able to ship it all to asia.

And according to this link that number of boats traveling the russian arctic has continued its trend upward towards 508 ships. http://www.nsra.ru/en/razresheniya/

If this continues manufactures will produce more robust ships, and the trend will continue to grow as the market evolves. Time will tell. But it is not a rosy picture here, though I believe there is a glimmer of hope.

There is hope, but when push comes to shove no one is really committing to the Northwest. That is the problem, but there are definately other ways to get the oil and gas to market. Pipelines are cheaper, but asia oil and gas prices are higher. I have read that this is what some companies are considering if the pipeline indeed falls through. Time will tell, odds are this may not go anywhere, but that is why we buy penny stocks, so much risk, so much potential, so much failure! :)