Oil going higher

[chinaman711]

SU looks to go higher as it just hit ndh of 75.61 and im looking for 80 this week. DOIG very nice hope to see 2 soon and alot more l/t. ERHE no news yet and i sure hope they get this deal signed. DWOG stuck at 1.99 should get going again soon. Good luck

[InvestingMoron]

ERHE picking up. MSEV and POGI sitting around. DNTK making some very nice gains.

[chinaman711]

Looks to test 76 soon and ERHE this news is big imo keep an eye on it as it could run right to a dollar. Good luck

[BOOOYAHOOO!]

DANGER!....DANGER Will Robinson! Please take note dat CNBC is focusing on the 2 day rise in crude this moanin and even brought on a couple anal-ysts to help point out the obvious. I hope you realize what that means! :)

[chinaman711]

Yep it means the little oil stocks are running CWPC ERHE DOIG and i hope its DWOG's turn soon.

[BOOOYAHOOO!]

Yep it means the little oil stocks are running CWPC ERHE DOIG and i hope its DWOG's turn soon.

Thaaas right! It also means fokes who trade like you get snookered! *-) Did you ever consider applying for a job at da street dot bomb as an anal-yst? They'd luvya over there...ya gots da right trading mentality! I'll see if I can get Jimbo to change his outlook on BWNG for ya! :)

[chinaman711]

Oil going higher on inventory report. SU gonna take the little DOIG's right along for the ride. Good luck and keep an eye on erhe news out soon.

[chinaman711]

The news just hit the wires on ERHE another done deal for block 2.

[myz350]

Oil going higher on inventory report. SU gonna take the little DOIG's right along for the ride. Good luck and keep an eye on erhe news out soon.

DOIG is doing great! back up to 2.15 already, should see 3 next week.

[chinaman711]

I was thinking 6 by the end of the year and if nat gas takes off again could see that 12 that the newsletter is looking for. Good luck Msg. 19005 of 19037
Jump to msg. #
Mystery Buy Sets Oil Sands Abuzz

It’s now glaringly apparent that western Canada’s oil sands are one of the hottest plays on the planet. Last month the industry got an idea of just how frenzied the grab for land is becoming: a single company ponied up a record C$465 million for 88,500 hectares (220,000 acres) of oil sands rights.

Most interesting was the identity of the buyer: 1122131 Alberta Inc. It’s still unclear who provided this unknown, numbered company with hundreds of millions in capital for the largest purchase in oil sands history. Speculation has fallen on everyone from the Chinese to the Indians to a conglomerate of major North American producers aiming to start an oil sands mega-project.

Also intriguing is the location. The leases lie well to the north and west of oil sands currently being developed. In fact, they’re completely outside the area where the Alberta Energy and Utilities Board says that economic oil sands deposits exist.

Why would someone pay nearly half a billion for land that may not host any oil? It may be that the would-be producer who tabled the bid is betting that officials are wrong and that the oil sands extend farther than anyone else believes. But there is another possibility: the buyer may be going after a new type of oil sands play.

The oil sands that we usually hear about are hosted within sandstone and lie at relatively shallow depths. But it’s a lesser-known fact that deeper down, large amounts of oil are also hosted in carbonate rocks known as the Grosmont formation. The land purchased by the mystery buyer is in a perfect location to pursue this play.

A handful of producers have tested the Grosmont, with generally poor results. But technologies for recovering deep oil sands have become more promising since those early tests. Producers are now quite adept at injecting steam and other heat sources into underground formations to move oil to surface. In 2004, the Alberta government noted in a presentation that “recent advances in recovery techniques are likely to rejuvenate the industry’s interest in exploiting the Grosmont bitumen deposit.”

The prize is worth it: the Grosmont is thought to contain 315 billion barrels of oil, or about one-sixth of all oil in the Athabasca region of Alberta. Might 1122131 Alberta be planning to take a crack at these riches? Only time will tell, but this is a development worth watching. Success here could touch off a new oil sands rush and yield major rewards for producers that can

[chinaman711]

.com/articles/2002/north/nt216032006.html

By Hector Igbikiowubo
Posted to the Web: Thursday, March 16, 2006

ABUJA—The Nigeria, Sao Tome and Principe Joint Development Zone (JDZ)yesterday earned the sum of $271 million (about N34.959 billion) being the signature bonuses to be paid for two new oil licenses awarded to local and foreign companies.

ExxonMobil yesterday revealed plans to invest on annual basis $2 billion in oil and gas exploration and production in Nigeria towards achieving a production capacity of 1.0 million barrels per day by 2010.
The oil revenue to be shared by both countries came from the award of two oil blocks 2, 3 and 4, in the JDZ, located in the Gulf of Guinea.

Sinopec and Addax/ERHC Energy clinched block 2 after posting a signature bonus of $71 million (about N9.159 billion). It is expected that Sinopec would operate the block on behalf of the other parties.
US oil firm Anadarko along side ERHC Energy/Addax Petroleum Consortium clinched the operator-ship for block 3 after posting a signature bonus of $40 million (about N5.160 billion).

Block 4 went to the Addax/ERHC Energy consortium along with Conoil Producing, Overt Energy, Hercules Energy and Godson Energy, for a signature bonus of $90 million (about N116.1 billion).
The companies involved are expected to pay up the signature bonuses within the next 30 days.
This brings to $324 million (about N41.796billion)the total sum of money to be shared by both countries from the award of oil licenses in the JDZ.
US oil major Chevron and its partners in JDZ Block 1, ExxonMobil and Dangote-EER, had earlier paid $123 million (about N15.867billion) for the block awarded in 2003.

The provision of the treaty signed by the two countries indicates that Nigeria will get 60 percent of the revenue and Sao Tome, 40 percent.

While speaking at the signing of the Production Sharing Contract (PSC) agreements with the contractors in the two blocks, Dr. Edmund Daukoru, Nigeria’s Minister of State for Petroleum Resources commended the Joint Development Authority (JDA), the body administering hydrocarbon resources in the JDZ, officials of both countries and the oil companies for ensuring that the agreements were finally concluded and signed.


He said concluding the award of the acreage had not come easily, noting that at a point during the negotiations, US oil firm Noble Energy withdrew its operator-ship of block 4, leading to ERHC Energy signing a memorandum of understanding with Swiss firm Addax Petroleum. “Negotiation of a PSC is by no means an easy task, as it involves exhaustive and careful discussions to arrive at a consensus which all parties will have to abide by for a very long time,” he said.

It would be recalled that the signing of the PSC for the oil blocks had been shifted severally, the last being the botched attempt on February 28, 2006 with officials from Sao Tome demanding postponement to enable them further study the agreement.
Daukoru noted that the Joint Ministerial Council (JMC) has been directed to fast-track negotiations to ensure the signing of the PSCs for the remaining three blocks awarded along with Block 3 and 4 at the 2004 JDZ Licensing Round

[aiki14]

Hey chinaman, surprised to see you back. You gonna post your 50% method?

[chinaman711]

Nope To Risky For The People Here Imo.

[madcowdisease]

Nope To Risky For The People Here Imo.

Lol. I see ppl here playing stocks in the ten-thousanth of a penny ie) 0.0004 for one share. If that isn't risky I don't know what is. I don't think anything is too risky for the ppl on this board. I wouldn't post it either based on all the responses I read so I don't blame you. But too risky can't be the reason.

[chinaman711]

CNBC saying we could be paying $3 for gas soon. Bombs away in Iraq again. SU up on a downgrade hmmmmmmmmm they might only make 1.5 bil this year.

[madcowdisease]

CNBC saying we could be paying $3 for gas soon. Bombs away in Iraq again. SU up on a downgrade hmmmmmmmmm they might only make 1.5 bil this year.

As I posted in A Good Take On Oil discussing Nuclear Power: I filled up Tuesday at $2.49. Other stations in the city were $2.59 to $2.69 for regular 87 octane. It's mid-March, not even Spring yet let alone Summer. Hell yea we're going to see $3 soon.

I've held SU for some time now and I see it as a long term holding. Growth in an oil company is hard to come by and that is exactly what you get in SU. I may commit more capital to this position but would like to do so on a pullback. Guess I should've done so when it was hovering above $70. At the time I thought oil would head lower for the Spring. Looks like I was wrong. This could be a baaad summer for your wallet at the pump. Best way to recoup some of your losses out on the road is to buy some oil stock.

[bsk1999]

Lots of good oil out there to be had, how about PQ? Cramer hyped it last year, mid-september, and it ran. It came back down and was an easy buy this week when it hit it's $8.40 support. A 2 day wait from there, and I got in at $8.60, and watching it go now. This one has potential to get back up to it's high of $12.

[madcowdisease]

Lots of good oil out there to be had, how about PQ? Cramer hyped it last year, mid-september, and it ran. It came back down and was an easy buy this week when it hit it's $8.40 support. A 2 day wait from there, and I got in at $8.60, and watching it go now. This one has potential to get back up to it's high of $12.

I remember this one. Had a different ticker back then too. To be fair all oil stocks ran like mad in August and September. But thanks for the heads up on the $8.40 support.

[BOOOYAHOOO!]

Remember how oil was rallying in tandem with stocks at one time and nobody noticed?.....I mean how da tawkin heads on CNBC splained an obvious conundrum away by saying that the economy was so strong that stocks were rising as oil was rising on higher demand of a strong economy. Well it wasn't until recently that the same idiots started saying that if oil would fall it would be good fo da mawkets. And that was in fact the case over the past couple of months anyway. I'm wondering what they will be saying when oil and stocks start marching together agin....dooooooooooooown! LOL Ahhhhh, da BOOOYAH "no safe haven" theory gettin ready to manifest itself....SAWEEEEEEEET! :)

[madcowdisease]

Remember how oil was rallying in tandem with stocks at one time and nobody noticed?.....I mean how da tawkin heads on CNBC splained an obvious conundrum away by saying that the economy was so strong that stocks were rising as oil was rising on higher demand of a strong economy. Well it wasn't until recently that the same idiots started saying that if oil would fall it would be good fo da mawkets. And that was in fact the case over the past couple of months anyway. I'm wondering what they will be saying when oil and stocks start marching together agin....dooooooooooooown! LOL Ahhhhh, da BOOOYAH "no safe haven" theory gettin ready to manifest itself....SAWEEEEEEEET! :)

It's tough to explain the market. I hear all kinds of bs from the heads on CNBC. I don't take them seriously. I watch more or less to see the commodity ticker at the top; that's about it. I will say that in my post Dow 11,000 I called this rally, at least personally. I was waiting for it to come down and this last time I put much of my money to work that had been sitting on the sidelines for much of the year. I can easily see it "correcting" friday, and believe it may be time to start trimming back a little.

[bsk1999]

EPL was the other one, which looks to have support at $20, currently trading at ~$22.