Su

[chinaman711]

SU coming back strong and should get real intersting next week when they report earnings. Im looking for 90 as alot of the other big oil companys are puting in all time highs. SU back to 82 and would like to see 83 today. Good luck

[chinaman711]

CNQ $54 SU $82 hmmmmmmmmmmmmmmmm-----------------------------Press Release Source: Canadian Natural Resources Limited


Canadian Natural Resources Limited Announces Record Quarterly Production and Strong Quarterly Cash Flow
Wednesday August 2, 5:00 am ET


CALGARY, ALBERTA--(MARKET WIRE)--Aug 2, 2006 -- Canadian Natural Resources Limited (TSX:CNQ.TO - News) (NYSE:CNQ - News):
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In commenting on second quarter 2006 results, Canadian Natural's Chairman, Allan Markin stated, "It was another record quarter for Canadian Natural as we continue to execute our defined plan for profitable growth. We achieved record quarterly production results from our North America operations for both crude oil and natural gas. Internationally, the West Espoir development came on stream last week from the initial production well. The Field will continue to ramp towards targeted peak production of 13,000 barrels of oil equivalent per day in early 2007. Our record production levels reflect the performance of our natural gas drilling program and the work of our project teams in our crude oil areas. At our Horizon Oil Sands Project, we remain slightly ahead of schedule and continue to track to budget targets due to maintaining focus on execution. This has been helped in large part by the significant amount of front end engineering that was completed prior to project sanction. Our people and contractors are finding new and innovative ways of doing things, which will help us to deliver this world class project."

John Langille, Vice-Chairman, commented "Seasonably low heavy crude oil differentials combined with the impact of the reversal of certain pipelines to the US Gulf Coast helped deliver record realized wellhead heavy crude oil pricing during the second quarter. This heavy crude oil pricing helped deliver strong cash flow for the quarter and six month period. This strong cash flow, combined with the continued management of our capital costs means that we still expect to exit 2006 with an exceptionally strong balance sheet, with debt to cash flow targeted under 1.2 times and debt to book capitalization targeted below the current level of 35% despite the expenditure of $2.7 billion on Horizon."

Canadian Natural's President and Chief Operating Officer, Steve Laut, in commenting on the Company's quarter end stated, "Canadian Natural's asset base is strong, delivering another quarter of record production and 10% year over year production growth. We continue to maintain control of our costs in this highly inflationary environment and continue to execute our strategy to optimize capital allocation and maximize value. In Q2/06 we reallocated capital from natural gas to crude oil, and in the second half of 2006 we will continue this trend by deferring an additional 308 natural gas wells as we effectively manage our portfolio. Canadian Natural's ability to allocate capital to maximize value, while maintaining focus on our large projects at Horizon, Primrose and Offshore West Africa, reflect the strength of our assets, our operating philosophy and the dedication of our people."

[chinaman711]

If CNQ is worth 54 then SU is worth 200 or at least the target price of 117 imo. Good luck

[chinaman711]

SU moving thru 84 looks like a run into tomorrows earnings. CVX coming back too HES looking good VLO too. SU could see 88 tomorrow if they come thru on earnings. L/T looks great for SU.

[chinaman711]

SU what a trader sweet

[chinaman711]

SU earnings wow--first call has the est. at 1.18 usd----------------------6:10AM Suncor Energy reports better than expected Q2 EPS (SU) 83.09 : Reports Q2 (Jun) earnings of C$1.64 per share, $0.28 better than the Reuters Estimates consensus of C$1.36. Suncor's next major growth phase targets an increase in oil sands production capacity to 350,000 bpd in 2008. The centrepiece of the expansion is the addition of a third pair of cokers to Upgrader 2. Engineering on this portion of the project is nearing completion and construction is approximately 45% complete. This project is on schedule and on budget. Work under way also includes the expansion of Suncor's Firebag in-situ operations, with construction targeted for completion in 2007. The project, which is expected to increase the bitumen production capacity of Firebag Stages 1 and 2, also includes the addition of cogeneration facilities. This project is also on schedule and on budget, with construction approximately 15% complete for the expansion project and approximately 55% complete for the cogeneration project. In June 2006, Suncor acquired three new oil sands permits, located approximately five kilometres southwest of the company's Fort McMurray oil sands operations. The three land permits are adjacent to mining leases previously acquired by Suncor

[chinaman711]

CALGARY, Aug. 3 /CNW/ - Suncor Energy Inc. today reported second quarter 2006 net earnings of $1.218 billion ($2.65 per common share), compared to $83 million ($0.18 per common share) in the second quarter of 2005. Excluding the impact of the reduction of federal and Province of Alberta income tax rates and the effects of unrealized foreign exchange gains on the company's U.S. dollar denominated long-term debt, 2006 second quarter net earnings were $755 million ($1.64 per common share), compared to $38 million ($0.08 per common share, excluding the impact of insurance proceeds) in the second quarter of 2005. Cash flow from operations was $1.320 billion in the second quarter of 2006, compared to $305 million in the second quarter of 2005.
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The increase in net earnings was primarily due to higher oil sands production, strong commodity prices and lower income taxes due to lower federal and Alberta provincial income tax rates. Comparative production during the second quarter of 2005 was lower primarily as a result of equipment damaged by a January 2005 fire. These positive net earnings impacts were partially offset by the strengthening of the Canadian dollar and higher oil sands operating costs resulting from increased production volumes and higher royalty expenses. The same factors impacted cash flow from operations, excluding the impact of lower tax rates.

Net earnings for the first six months of 2006 were $1.931 billion ($4.21 per common share), compared to $150 million ($0.33 per common share) for the same period in 2005. Cash flow from operations for the first six months of 2006 was $2.634 billion, compared to $599 million in the first six months of 2005. Excluding the impacts of insurance proceeds, income tax revaluations and unrealized foreign exchange gains, net earnings for the first half of 2006 were $1.264 billion compared to $78 million in the same period for 2005.

Suncor's total upstream production averaged 302,400 barrels of oil equivalent (boe) per day during the second quarter of 2006, compared to 160,600 boe per day in the second quarter of 2005. Oil Sands production during the second quarter of 2006 averaged 267,300 barrels per day (bpd). This consisted of 258,800 bpd of synthetic crude oil and 8,500 bpd of bitumen, which was sold directly to the market. Production during the second quarter of 2005 averaged 128,200 bpd, including 9,600 bpd of bitumen. Natural gas production in the second quarter of 2006 was 189 million cubic feet (mmcf) per day, compared to second quarter 2005 production of 175 mmcf per day.

During the second quarter of 2006, Oil Sands cash operating costs averaged $18.30 per barrel, compared to $27.10 per barrel during the second quarter of 2005. The decrease in cash operating costs per barrel is due to operating expenses being spread over significantly more barrels of production.

In Suncor's Canadian downstream operations, higher refining margins were partially offset by reduced refinery utilization compared to the second quarter of 2005. Margins were also higher in U.S. downstream operations, while refinery utilization remained consistent compared to the second quarter of 2005.

"Steady production across all our businesses was a key contributor to solid earnings and cash flow," said Rick George, president and chief executive officer. "We will continue to focus our performance on maintaining a steady state, and operating in a reliable and safe manner."

[chinaman711]

on maintaining a steady state, and operating in a reliable and safe manner."

GROWTH UPDATE

Suncor's next major growth phase targets an increase in oil sands production capacity to 350,000 bpd in 2008. The centrepiece of the expansion is the addition of a third pair of cokers to Upgrader 2. Engineering on this portion of the project is nearing completion and construction is approximately 45% complete. This project is on schedule and on budget.

Work under way also includes the expansion of Suncor's Firebag in-situ operations, with construction targeted for completion in 2007. The project, which is expected to increase the bitumen production capacity of Firebag Stages 1 and 2, also includes the addition of cogeneration facilities. This project is also on schedule and on budget, with construction approximately 15% complete for the expansion project and approximately 55% complete for the cogeneration project.

In June 2006, Suncor acquired three new oil sands permits, located approximately five kilometres southwest of the company's Fort McMurray oil sands operations. The three land permits are adjacent to mining leases previously acquired by Suncor.

In July 2006, a regulatory hearing was held on Suncor's planned third upgrader and Steepbank Mine extension. During the hearing, Suncor and various stakeholders addressed the economic benefits and social and environmental challenges related to the project. The regulator is expected to deliver its written decision before the end of the year. Pending regulatory and Board of Directors approval, Suncor plans to begin construction in 2007.

The upgrader, mine and associated facilities are central to the company's goal of increasing production to between 500,000 and 550,000 bpd in the 2010 to 2012 timeframe. Suncor has not yet announced capital cost estimates for the project as these costs, together with the final configuration of the project, are still under development. However, preliminary figures including those in Suncor's Voyageur regulatory approval application, are under upward pressure. The company expects to advance project development plans and cost estimates to a level appropriate to seek Board of Directors' approval in 2007.

In its U.S. downstream operations, Suncor successfully completed a US$445 million modification to its Commerce City refinery, allowing the facility to meet new regulations for low sulphur diesel fuel. In addition to these modifications to meet clean fuels regulations, the upgrade is also expected to improve the refinery's environmental performance, and enable Suncor to integrate a broader slate of crude oil feedstocks, including oil sands sour synthetic crude.

During the second quarter of 2006, Suncor also began commissioning a diesel desulphurization unit at its Sarnia refinery (completed in July 2006). The new desulphurization unit is the first phase of a two-part expansion and upgrade of the facility. The second phase of this $800 million project is expected to increase the refinery's capacity to process sour synthetic crude oil from Suncor's oil sands operations in Fort McMurray, Alberta. This second and final phase of the project is scheduled for completion in 2007.

"Our downstream plans are closely integrated with Suncor's oil sands strategy," said George. "Finishing the work of upgrading oil sands products in Sarnia and Denver should provide a capital cost advantage over building the facilities in Fort McMurray."

Also in Suncor's Canadian downstream operations, the company began commissioning and start-up of a new ethanol facility in late June 2006 (completed in July 2006). The facility is the largest of its kind in Canada, and is expected to produce approximately 200 million litres of ethanol annually. The ethanol produced will be used for blending in gasoline products.

As Suncor invests for future growth, prudent debt management remains a priority. With oil sands production at full capacity and higher commodity prices, net debt was reduced to $2.2 billion at the end of the second quarter, compared with $2.8 billion at the end of the first quarter, 2006.

[madcowdisease]

What's your prediction for this one CMan? It has a rich P/E compared to the rest of the oil co.s mostly in the 8-10 range. Granted there's more growth potential with SU, 267,300 bpd to 350,000 by 2008 (expected), but it is in heavy, sour crude which there is a glut of at this moment in time. I'd be higher on this co. if it were producing light, sweet crude. One must remember, when we see crude is at $76/barrel that's not what SU's crude is going for.

[chinaman711]

Just looks good long term and remember they just opened a ethanol plant too. SU could double their earnings as they continue to grow. The best way to make money in su is to trade it and you can do well if you trade options. If you buy and hold you will make a little money but im not looking to buy and hold. Good luck

[chinaman711]

SU starting to really pick up here as it goes green. Could have a late day rally what a stock to trade. Needs to get thru 83.25

[chinaman711]

SU thru 83.25 taking on 83.50 and looking real good here.

[chinaman711]

Just couldn't get thru 83.50 selling off now

[chinaman711]

Buy the dip on SU looking good again so far.

[chinaman711]

PETER BRIMELOW
Good as gold?
Commentary: Questions about market manipulation, missing M3 figures
PrintE-mailDisable live quotesRSSDigg itDel.icio.usBy Peter Brimelow, MarketWatch
Last Update: 12:04 AM ET Aug 7, 2006


NEW YORK (MarketWatch) -- On Wednesday, I received Harry Schultz's latest Gold Charts R Us communication, (itself an object lesson about the alacrity with which some of the truly veteran newsletter writers (like Richard Russell) have adapted to the Internet).
Schultz's message was clear: "PS: If U don't buy gold today, go away & forget this mkt. Tuesday's close filled in the missing bits needed to give a trader's buy signal. I've never seen a day like it. Breakouts all over the place ... XAU in clear B/O...U can't win a jackpot unless u put a coin in the machine first." This has to be seen as a significant statement by a very experienced market observer. I first wrote about Harry Schultz 30 years ago.
Gold and gold shares respectfully responded by going down for the rest of the week.
This of course did not deter Freemarket Gold & Money Report's James Turk, who wrestles in his latest piece with the Fed's very peculiar decision to stop reporting M3 (cast in even stranger light by, as I understand it, their having eliminated the M3 archives from their Web site). Turk for many years maintained a "Fear Index", which was a ratio of M3 and the U.S. gold price.
When last calculable, the chart of this was ominous: Turk not unreasonably comments: "Why does the Fed no longer want to report the total quantity of dollars in circulation? They know what's coming - massive amounts of dollar creation to fund the worsening trade and federal government budget deficits."
But Turk goes onto assert that an implicit Fear Index he has constructed gives him the data to solve for the gold price, which equates to $900 per ounce ... even though the Fear Index has climbed a long way, it is still below levels reached at other key low points in the gold market, specifically, in 1971, 1976, 1982, and 1993. This low level means that gold is still way undervalued.
For what grey hair is worth, there is much in the news that reminds me of 1979. To me $900 does not seem outlandish, especially when $875, the previous fleeting top, in 1980 dollars is converted to today's values, at least double the price at $1,750 an ounce.
Dennis Gartman, of the Institutionally- favored Gartman Letter, generally rubbishes these kinds of concerns. But nevertheless this past week, Gartman increased his portfolio exposure to gold to about half, depending on how you calculate it. He also bought back a position in Suncor Energy Inc. (SU : suncor energy inc com
News , chart, profile, more
Last: 82.66-0.20-0.24%

4:15am 08/07/2006

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82.66, -0.20, -0.2%) , about as pure a bearish Middle East bet other than gold that I can see.
Technicians, however, are less enthusiastic. My old friend Martin Pring, whose work turns on very long-moving average systems, is upset by the sideways movement in some of these measures: "The Goldman Sachs Precious Metal Index has just experienced a marginal KST sell signal. ... This is important since KST sell signals have a high degree of probability of resulting in a multi-week correction ... the three previous once have only been exceeded once before (in 1999) during the 11-year history of this Index. This means that an above average (short-term) decline would be likely in the event that a more decisive KST sell signal is triggered." The KST sell signal is a proprietary moving average measure.
None of this is very disturbing intellectually to LeMetropoleCafe's Bill Murphy, who equates gold more sluggish performance recently with Henry Paulson's arrival at the Treasury from Goldman Sachs: "Paulson, is ... blatant about his manipulation of the gold price. This arrogant fellow couldn't care less about who sees what they are doing. Probably because he knows the cowardly wimps in the mainstream gold world won't utter a peep."
If this view is correct, of course, the Martin Pring system would be effectively co-opted.
Whether the Middle East can be co-opted is another question.

[chinaman711]

Got to luv SU buy the dips

[chinaman711]

SU looks to test the day high soon as buy the dips works again today.

[chinaman711]

SU new day high that fund must still be buying as it heads toward 85. CVX picking up too look for cvx to test the day high too. Good luck

[chinaman711]

SU taking out 85 look for su to test resistance of 85.47. CVX 66.51 new day high looking good too.

[chinaman711]

CVX takes out resistance as it hits a new day high of 66.79. Looking good

[chinaman711]

SU just got a nice buy rating from guest on cnbc. He also like SLB

[chinaman711]

SU having trouble getting thru 85 but once it clears 85 its on its way imo. CVX looks real strong today and looks like it could make a run to 70. MRO and FTO having a great day so far and HES looks like it may run a little too. Another good day in the oil patch so far. Good luck

[chinaman711]

SU working on that 85 look for a run if 85 goes imo

[chinaman711]

SU finally moving 85.50 look for su to test resistance of 86.71 imo. Hope it does it by 2:30 as i would take the money and run for today. Good luck

[chinaman711]

SU takes out 85.40 looks like it may run to a all time high imo. MRO VLO HES CVX looking good too

[chinaman711]

SU 86.50 takes out resistance look for 90 imo.

[chinaman711]

SU was a steal on a dip under 84 imo. Needs to get back thru 85.40 buy the dips working well again today so far.