Thanks Bush, Obama and the House and Senate. You can proudly say you all contributed to the downgrade of USA debt from AAA for the first time since 1917.
The bloody details.
.
Friday, August 5, 2011
Saturday, July 30, 2011
New Eastern Ohio Utica Shale oil play...next Bakken ?- Who benefits?
Chesapeake finally announced what the market has been speculating for a few months. The Utica Shale play in Middle/Eastern Ohio may be better than the Eagleford Shale play in Texas. Audrey is estimating that acreage will eventually be valued at $10,000-$15,000/acre. Here is a summary of what Chesapeake has done to date: (note - there may be one Canadian junior exposed to this play)
see drill permitting in the ohio counties here
The Utica shale sits deeper than the Marcellus shale that has been getting attention in the past year or so in the region. According to Chesapeake's presentation for shareholders, the Utica features an area of dry gas along the Ohio River through Columbiana and Jefferson counties, a more profitable wet gas area running in a strip from roughly Trumbull to Meigs counties, as far west as parts of Harrison and Carroll counties, then continuing west into central Ohio, from Lake Erie to the state's southern tip with oil producing potential.
McClendon said he could not disclose findings yet, for competitive reasons, but there have been nine vertical wells drilled in the region, with six horizontal wells. The wells are spread across several counties, and their output increases confidence in the findings the company stated about the Utica shale.
Chesapeake has analyzed more than a half mile of core borings and examined more than 2,000 well logs in making its determination of the potential of the Utica find. The company also factored in its experience in other unconventional energy fields.
McClendon said the only public company competing so far in the play is Enervest of Houston, whom he described as a highly regarded firm that is a joint holder on some Utica acreage.
So the question is....are there any Canadian juniors that will benefit? I own shares in a company whose sole focus is Ohio and is currently drilling a light oil horizontal play in northern Ohio. Their market cap is in the $10 million range and they have an extremely tight share structure. Volume has picked up the last month both on anticipation of drill results and the potential for their Utica acreage. I have a call into management for more information and they will be part of my "Under the Rocks" report for early August.
see drill permitting in the ohio counties here
The Utica shale sits deeper than the Marcellus shale that has been getting attention in the past year or so in the region. According to Chesapeake's presentation for shareholders, the Utica features an area of dry gas along the Ohio River through Columbiana and Jefferson counties, a more profitable wet gas area running in a strip from roughly Trumbull to Meigs counties, as far west as parts of Harrison and Carroll counties, then continuing west into central Ohio, from Lake Erie to the state's southern tip with oil producing potential.
McClendon said he could not disclose findings yet, for competitive reasons, but there have been nine vertical wells drilled in the region, with six horizontal wells. The wells are spread across several counties, and their output increases confidence in the findings the company stated about the Utica shale.
Chesapeake has analyzed more than a half mile of core borings and examined more than 2,000 well logs in making its determination of the potential of the Utica find. The company also factored in its experience in other unconventional energy fields.
McClendon said the only public company competing so far in the play is Enervest of Houston, whom he described as a highly regarded firm that is a joint holder on some Utica acreage.
So the question is....are there any Canadian juniors that will benefit? I own shares in a company whose sole focus is Ohio and is currently drilling a light oil horizontal play in northern Ohio. Their market cap is in the $10 million range and they have an extremely tight share structure. Volume has picked up the last month both on anticipation of drill results and the potential for their Utica acreage. I have a call into management for more information and they will be part of my "Under the Rocks" report for early August.
Monday, July 18, 2011
$1,600 gold and the bear market in gold juniors
The higher the gold price rises, the more Canadian and stateside investors throw away their Canadian junior gold explorers. When you are broke and trying to put food on the table, you sell what you have without thinking. I often thought $1,000 gold would lead to an explosion in the junior gold sector. I was wrong. It will take the Chinese and Middle Eastern institutional entities to start the next bull market in gold juniors. They are the only ones with the excess funds to drive this market higher. The only question is when?
Monday, July 11, 2011
Failed talks on the debt ceiling lead to a sell-off in the Canadian Juniors
Risk-off was the play of the day as a break down in the debt ceiling talks caused the average resource investor to sell today - as expected.
Thursday, July 7, 2011
The Junior Resource Sector Lit Up Today
Many of the junior resource stocks I follow were up 10% or more today. The reason.....President Obama hinting that a debt deal is getting closer. Even though any deal will only kick the can down the road for another 6 months or so, the majority of investors are terrified of August 2nd coming without a deal. 2008 is still fresh in the Canadian resource sector and most retail investors spook easily. As long as a deal seems likely and with gold nearing all time highs, the juniors will scream higher into the Fall season.
Tuesday, July 5, 2011
49 North Resources up over 30% vs (10%) for the TSX-V since January
Just a quick update on 49 North Resources (FNR) which I labeled the one stock to own in 2011 if you could only own one stock. FNR is up over 30% since I first issued this report in January compared to a loss of over 10% for the TSX-V index. As production numbers from their heavy oil project get released later this Summer, I would expect this out performance to intensify.
stateside
stateside
Thursday, June 23, 2011
Monday, June 6, 2011
Two buyers of Kingsman (KSM) - The COO and I - Good Company
Kingsman Resources Inc. (KSM) As of June 5th, 2011
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Jun 03/11 Jun 03/11 Drummond, Edward Jack Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.055
Jun 03/11 Jun 02/11 Drummond, Edward Jack Direct Ownership Common Shares 10 - Acquisition in the public market 91,000 $0.060
And many, many others here
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Jun 03/11 Jun 03/11 Drummond, Edward Jack Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.055
Jun 03/11 Jun 02/11 Drummond, Edward Jack Direct Ownership Common Shares 10 - Acquisition in the public market 91,000 $0.060
And many, many others here
Thursday, May 19, 2011
IEA asks for hike in oil production
Sorry...this is what it is like when you've reached peak oil. Learn to live with it and buy the Canadian junior oils that are in bear market territory.
May 19, 2011
By OGJ editors
HOUSTON, May 19 -- The International Energy Agency’s governing board issued a statement during its regular quarterly meeting on May 19 appealing to suppliers to provide more oil to the market. IEA said it is prepared to use all tools at its disposal, which include releasing strategic oil reserves.
While the Paris-based agency did not name any particular oil suppliers in the statement, the world’s spare oil production capacity lies within the Organization of Petroleum Exporting Countries.
IEA, considering oil market developments and their impact on the global economy, noted that oil prices stand at elevated levels driven by market fundamentals, geopolitical uncertainty, and future expectations and cited growing signs that the rise in oil prices since September 2010 is affecting economic recovery by widening global imbalances, reducing household and business income, and placing upward pressure on inflation and interest rates.
As global oil demand increases seasonally from May-August, there is a clear, urgent need for additional supplies on a more competitive basis to be made available to refiners to prevent a further tightening of the market, the statement said.
The agency warned that additional increases in prices at this stage of the economic cycle risk derailing the global economic recovery and are in the interest of neither producing nor consuming countries. Especially vulnerable are oil-importing, developing countries.
“The governing board urges action from producers that will help avoid the negative global economic consequences which a further sharp market tightening could cause, and welcomes commitments to increase supply. We stand ready to work with producers as well as nonmember consumers; in this constructive spirit, we are prepared to consider using all tools that are at the disposal of IEA member countries,” IEA said.
May 19, 2011
By OGJ editors
HOUSTON, May 19 -- The International Energy Agency’s governing board issued a statement during its regular quarterly meeting on May 19 appealing to suppliers to provide more oil to the market. IEA said it is prepared to use all tools at its disposal, which include releasing strategic oil reserves.
While the Paris-based agency did not name any particular oil suppliers in the statement, the world’s spare oil production capacity lies within the Organization of Petroleum Exporting Countries.
IEA, considering oil market developments and their impact on the global economy, noted that oil prices stand at elevated levels driven by market fundamentals, geopolitical uncertainty, and future expectations and cited growing signs that the rise in oil prices since September 2010 is affecting economic recovery by widening global imbalances, reducing household and business income, and placing upward pressure on inflation and interest rates.
As global oil demand increases seasonally from May-August, there is a clear, urgent need for additional supplies on a more competitive basis to be made available to refiners to prevent a further tightening of the market, the statement said.
The agency warned that additional increases in prices at this stage of the economic cycle risk derailing the global economic recovery and are in the interest of neither producing nor consuming countries. Especially vulnerable are oil-importing, developing countries.
“The governing board urges action from producers that will help avoid the negative global economic consequences which a further sharp market tightening could cause, and welcomes commitments to increase supply. We stand ready to work with producers as well as nonmember consumers; in this constructive spirit, we are prepared to consider using all tools that are at the disposal of IEA member countries,” IEA said.
Tuesday, May 17, 2011
The bear market in Canadian juniors
The Canadian junior market is acting like gold is at $400 and oil at $35. Investors are selling shares to put food on the table. Here is an example of no interest in the gold juniors:
Riverstone withdraws $15-million public offering
2011-05-17 16:51 ET - News Release
Mr. Michael McInnis reports
RIVERSTONE WITHDRAWS PUBLIC OFFERING OF COMMON SHARES
Riverstone Resources Inc. will not be proceeding with the proposed public offering of common shares in the capital of the company, the terms of which were outlined in its news release of May 9, 2011.
Riverstone will continue to advance exploration on its Karma project in Burkina Faso with available funds.
We seek Safe Harbor
Riverstone withdraws $15-million public offering
2011-05-17 16:51 ET - News Release
Mr. Michael McInnis reports
RIVERSTONE WITHDRAWS PUBLIC OFFERING OF COMMON SHARES
Riverstone Resources Inc. will not be proceeding with the proposed public offering of common shares in the capital of the company, the terms of which were outlined in its news release of May 9, 2011.
Riverstone will continue to advance exploration on its Karma project in Burkina Faso with available funds.
We seek Safe Harbor
Saturday, April 23, 2011
My investment style summed up perfectly
Here is a post from someone on the SLX BBoard...by Bogapet. This sums up my feelings exactly when it comes to my investment style...........
"It's an interesting statement on human nature that when a stock is very undervalued, most people's reaction to that fact is based on one thing: whether or not they own it.
If one does all the work, and figures out that some company is extremely undervalued, and they don't own it, they lick their chops and take advantage of the buying opportunity.
Once they own it, if it continues to be undervalued, eventually they stop seeing it as a buying opportunity, and begin to see it as a complaining opportunity. For some, it only takes a few weeks to go from chop-licking to whining. Others are more patient.
The reason a stock is undervalued is that the market is irrational. Unfortunately, it can stay irrational for a long long time. Just because I noticed that it was being irrational and bought doesn't mean it's going to become rational immediately and reward me for my insight. I have to be ready to wait. Usually a lot longer than I'd like to."
endquote.
"It's an interesting statement on human nature that when a stock is very undervalued, most people's reaction to that fact is based on one thing: whether or not they own it.
If one does all the work, and figures out that some company is extremely undervalued, and they don't own it, they lick their chops and take advantage of the buying opportunity.
Once they own it, if it continues to be undervalued, eventually they stop seeing it as a buying opportunity, and begin to see it as a complaining opportunity. For some, it only takes a few weeks to go from chop-licking to whining. Others are more patient.
The reason a stock is undervalued is that the market is irrational. Unfortunately, it can stay irrational for a long long time. Just because I noticed that it was being irrational and bought doesn't mean it's going to become rational immediately and reward me for my insight. I have to be ready to wait. Usually a lot longer than I'd like to."
endquote.
Sunday, April 10, 2011
Hello World
This man knows more than all of the world's leaders put together. Here is Martin Armstrong's first article since his release from prison:
Hello World
stateside
Hello World
stateside
Monday, April 4, 2011
Scotia Capital on the Alberta Bakken Play
I highlighted this play in June of last year and we were able to get a 10 bagger out of Mountainview Energy. Nine months later, Scotia comes on the scene with their report for the first time. Where have you guys been?
See the report here: Scotia Report
See the report here: Scotia Report
Monday, February 21, 2011
It's not a problem until it's a problem....well it's now a problem
For those hedge funds and other institutions who sell short the resource complex and their shares (oil, gold, silver) because it's not a problem until it's a problem....they are about to experience a religious moment because Houston....we have a problem. There is no such thing as research and forward looking opportunities in the resource sector anymore. The hedge funds and institutions, until now, have ignored peak oil, mid-east violence possibilities, declining gold/silver availability on the exchanges and all of the other signs that have pointed to the situation we have today with silver, oil (now gold) all sky rocketing. The hedge funds and institutions are heavily short the shares of resource companies and are about to receive a "come to Jesus" moment. Hopefully you are positioned all in at this point. The next few months should be fun. The juniors will provide the most leverage and my favorites at this moment are 49 North Resources (FNR), Provident Resources (PV) and Transamerican Energy (TAE). As always, do your own research.
Sunday, February 6, 2011
Format for the new webcast
Hi,
I've been experimenting with a few different formats to provide my commentary and updates on the Canadian junior companies I follow and have decided to go the You Tube route. Over the next few weeks, I will start posting updates via You Tube which will be able to be accessed from this blog and my website. Please give me your feedback at stateside@statesidereport.com.
Stateside
I've been experimenting with a few different formats to provide my commentary and updates on the Canadian junior companies I follow and have decided to go the You Tube route. Over the next few weeks, I will start posting updates via You Tube which will be able to be accessed from this blog and my website. Please give me your feedback at stateside@statesidereport.com.
Stateside
Subscribe to:
Posts (Atom)