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29/12 GMT 00.08 Site Updates The site has not been updated due to a Holiday.. 10/12 GMT 07.24 EU - Italy - Berlusconi - "The Patiens Running the Asylum" Berlusconi: Euro is a 'swindle' and Germany wants 'hegemony'.. 28.09.12 BRUSSELS - Italy's derided and populist ex-PM Silvio Berlusconi is trying to make a comeback ahead of general elections due in spring 2013. Speaking at a book presentation event in Rome on Thursday 27/09, he called the euro a "big swindle" and said that it would be no "tragedy" if Germany - which has displayed "hegemony, not solidarity" in the crisis - left the common currency. He also criticised the eurozone bailout fund, the ESM, which was ratified by Berlin the same day. Belrusconi said that it only contributes to the vicious circle of recession and debt: "To receive aid you have to sign a memorandum with austerity measures, which bring the economy to collapse and into a recessionary spiral." I for one hope he gets re-elected, it would be a Classic!! 7/12 GMT 03.03 Lundin Petroleum LUPE:SAX - LUP:TSX Again this one is a Buy, a Buy etc... It´s all about Norway! 7/12 GMT 02.59 Oil - The Markets - The Contracts - Brent versus WTI The Energy Information Administration in Washington dispensed with West Texas Intermediate for its price forecasts in its Annual Energy Outlook 2013 released yesterday, adopting North Sea Brent crude instead. It’s the first time the Department has used Brent, reflecting “a growing discrepancy” between WTI and global crude prices.. The price you pay for growing US domestic production. 7/12 GMT 01.51 Nokia - NOK:NYSE Just another reminder.... 24/7 GMT 01.32 Nokia - NOK:NYSE A stock I used to Daytrade along side of Ericsson way back when.. The company is being downgraded and more or less expected to hit the wall much due to Apple and the nonsens with their "a new product a week thinking".. Yet don´t discount the determination of the Fins! That is Finland for those who do not know or have been living on Mars for the last 147 years. Nokia used to sell tires, and good ones at that. And in the interval some pretty good mobile phones/systems.. So I am just saying.... 6/12 GMT 19.44 EnQuest PLC - ENQ:SAX - ENQ:LSE - Valiant Petroleum There is talk and this has gone on for some time that Valiant Petroleum is upp for sale, as part of a strategy to enhance shareholder value. Well it´s more than talk it is an actual strategy and in this there are a few possible buyers, including ENQ. The other possibles are Fairfield Energy and a consortium built around the former CEO of Valiant, Peter Buchanan.. Fairfield this site belives does not have the cash, the consortium would be just that a group whereas ENQ has the cash and the rest. If this deal goes through it´s an Enquest deal! 3/12 GMT 03.02 ShaMaran Petroleum Corp - SNM:TSX-V - SNM:OMX - Atrush OK.. Here we go boys and girls! TAQA and Marathon.. Old friends with the Lundins.. 29/11 GMT 00.37 Investors Delight There are three stock´s worth a good hard look and they are Shamaran, Enquest and Lucara. Why?.. Well simply because of investor apathy, indifference, etc, basically take your pick in the pile of unintelligible reasons. The common denominator of all three is inherent value far from current market valuation.. Basically they are Cheap compared to the already proven potential.. 27/11 GMT 14.11 Lundin Petroleum LUPE:SAX - LUP:TSX 27/11 GMT 02.17 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction As stated earlier several more Blue Diamonds have been found at the Karowe mine and in this it should be noted that Blues are found on a scale of 1 carat per 100.000 carats of colourless diamonds. At a very specific location.. Karowe is in this a huge Resource! 26/11 GMT 05.17 Nokia - NOK:NYSE What did I say!.. Love in a Sauna... 24/7 GMT 01.32 Nokia - NOK:NYSE A stock I used to Daytrade along side of Ericsson way back when.. The company is being downgraded and more or less expected to hit the wall much due to Apple and the nonsens with their "a new product a week thinking".. Yet don´t discount the determination of the Fins! That is Finland for those who do not know or have been living on Mars for the last 147 years. Nokia used to sell tires, and good ones at that. And in the interval some pretty good mobile phones/systems.. So I am just saying.... 26/11 GMT 05.12 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction It´s Cash Flow.. That´s the point. The price structure for Diamonds may today not be the best but a diamond miner that has good quality carats to sell will do well even in a weak market. A Diamond Miner with a diamond that is as rare as a 2a Blue will do even better. Remember that the company has already found not only the fairly large 9.47 carat stone but also smaller stones, well suited for both industry and the jewelry market.. 26/11 GMT 04.36 Oil - The Markets - The Contracts - Brent There is an interesting arbitrage trade ongoing in Brent Forties due to of all places, South Korea.. A long way to ship heavy oil to but not so new EU rules have made it a good deal to set VLCC´s on the long delivery track. Unfortunatly this has lead to some European Refiners not having the crude they want or need.. It has also increased the volatility in the contract.. Just a note. 22/11 GMT 01.08 China - Power Output China’s power output in September fell to the lowest level in four months as economic growth slowed for a seventh quarter. Electricity production was 391 Twh, the least since 390 Twh in May, down 11% from August and only up 1.5% year-on-year. Don´t belive the GDP Stats from China... 22/11 GMT 00.53 Falkland Oil & Gas Ltd - FOGL:LN - Scotia A very possible discovery! 21/11 GMT 23.43 ShaMaran Petroleum Corp - SNM:TSX-V - SNM:OMX - Q3 Report It´s all about Atrush and the Detailed Property Report and Reserve and Resource Report due before 31/12 2012 courtesy of McDaniel & Associates Consultants Ltd... Not forgetting the Declaration of Commercial Discovery submitted on 7/11 2012. A very interesting time is ahead, one of great profit this site belives... A possible TAQA bid for Aspect Energys part of GEP is only of interest for SNM as a value indicator. Of greater interest is: "The tendering process has been completed for a contract to install and operate an extended test facility with a maximum production capacity of 5,000 barrels of oil per day. The extended test facility is expected to be commissioned in the first quarter of 2013 with production coming from the Atrush-1 well. The Atrush-2 well will be used to monitor reservoirs. An additional extended test facility is planned to be installed on the Atrush-3 well in the second half of 2013. Work on an enhanced extended test facility with production capacities from 10,000 barrels of oil per day expandable to 30,000 barrels of oil per day is planned to commence in the second half of 2013." 21/11 GMT 13.49 ShaMaran Petroleum Corp - SNM:TSX-V - SNM:OMX - Q3 Report Releasing the Q3 Report early is most likely due to either the TAQA situation or the commercial declaration on Atrush.. 19/11 GMT 04.09 Lundin Petroleum LUPE:SAX - LUP:TSX This stock is "so good," it goes into a dip phase and then suddenly it´s back where it started from.. Talking target levels.. this sites right now is 180 SEK, a dip and then 210 SEK, etc.. Long term target.. how long is a pipeline? 19/11 GMT 04.05 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction There is more than considerable interest in the type 2a Blue Diamond on Sale... 12/11 GMT 23.20 EnQuest PLC - ENQ:SAX - ENQ:LSE Please note that since late June this stock has traded more or less along it´s 200 MVA.. As stated earlier "nice and steady".. Fun times for Algorithms.. *G* 12/11 GMT 11.47 ShaMaran Petroleum Corp - SNM:TSX-V - SNM:OMX Abu Dhabi National Energy, TAQA would be an ideal partner for SNM and I doubt very much that the Lundins today would sell the 33.5% share in GEP.. TAQA can greatly increase access to both the Iraqi and Kurdish governments.. Of interest is the price that will be paid for Aspect Energys 66.5% share in GEP.. 10/11 GMT 00.16 Latvian Forest Company - LATF:XSAT This is a good company with a philosophy you would hope would be prevalent as far as shareholder value is concerned.. Very Lundinesque if you will.. Rights Issue 9/11 GMT 23.54 Investing Strategy - Short Term I wrote.. 1/10 GMT 06.10 Investing Strategy - Short Term 95% Cash, the rest on a tight daytrading leash.. Even more so! With "The Patiens Running the Asylum".. Especially in Europe... 9/11 GMT 23.47 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Q3 Report A good report in line with expectations! Salient points the production cost against revenue and the results from a fairly short period of production. As always the Lundin´s Run a "Tight Ship".. 4/11 GMT 21.16 USA - The Election Please.. Barack Hussein Obama was the President the country had to have.. Fine so now we have had that experience but Please No MOre!!!! The US and the Global Economy can´t take anymore of "building a better tomorrow", "the future is ours" etc, etc ad nauseum! A case in point.... True Numbers 4/11 GMT 20.41 Lundin Petroleum LUPE:SAX - LUP:TSX - CNBC Interview.. An interesting interview.. CNBC Interview 1/11 GMT 23.42 Latvian Forest Company - LATF:XSAT - NAVPS The company has increased it´s acreage again.. There are other thing´s afoot which put´s this stock on the Buy List - Big Time. 27/10 GMT 14.57 Lucara Diamond Corp - LUC:SAX - LUC:TSX It might be apt to note that while De Beers production fell by 31% in Q3, much due to the current economic climate.. And that this year to date has seen a decline by 20% the company states that - "As production has declined, management said it will be unable to meet sightholder short-term demand as expressed by their initial applications for goods for the year." - Simplespeak - We have seen to it that there is demand for Rough Diamonds that can´t be met... Also note that Anglo American owns 85% of De Beers with Botswana's Government holding the remaining 15%. 27/10 GMT 14.34 EnQuest PLC - ENQ:SAX - ENQ:LSE As I said before if you want a stable haven to weather the turmoil out there buy either Lundin Petroleum or Enquest.. For ENQ, 11 new licenses close to infrastructure and a British Government that is finally seeing the light, high taxes on "our" Energy might not be a very good idea.. Kraken is the near term Key! 27/10 GMT 14.19 USA - GDP So Q3 came in at 2% and Analysts´s had expected 1.8%... If these guys worked for me they would be out on the Street looking for a job at MC Donalds or wherever. If you strip down the numbers real growth was 1.2%... The rest is Government stimulus, QE45.7 or some such foolishnes. The US is stagnate and this is just the interime... The World´s one singular problem is europe, let me make that more clear it´s - EUROPE!!!! 25/10 GMT 04.03 PA Resources - PAR:SAX I last wrote about this bi-product of Milk the Shareholder in 2009.. It seems the Dung is finally Done!! 25/10 GMT 03.59 Nokia - NOK:NYSE Finns are Bastards when it comes to Determination!.. I like this stock Big Time. 147 years.... 25/10 GMT 03.54 EnQuest PLC - ENQ:SAX - ENQ:LSE Very stable in the turbulence, and I might add very tradable not at least for a number of major traders in the stock... Kraken, Taxes... 25/10 GMT 00.02 Site Updates Lack of updates due to Holiday! Stay tuned... 15/10 GMT 04.57 Lucara Diamond Corp - LUC:SAX - LUC:TSX Look for the Uptick!! 15/10 GMT 03.41 EU - The noble peace price I am still *ROTFLMAO*.. Thank You Norway for being You!.... 12/10 GMT 23.02 EU - The noble peace price *ROTFLMAO*..... 9/10 GMT 03.28 Lucara Diamond Corp - LUC:SAX - LUC:TSX A lot of newbies in the stock, as has become apparent.. Good trading.. I do love the weird and wacky conspiracy theories concerning certain large block sales.... 9/10 GMT 03.15 EU - A trip to Greece So Old Angela strides into the meeting saying - "OK, It´s all over we Fucked Up..." How refreshing and True... But the Morons will continue to save the Raphus cucullatus, to no awhale but too a huge cost for the citizens of Europe.. And the rest of the world.. But who really care´s? 9/10 GMT 01.30 China - Q3 GDP - Projection This site is "calling" for a 6.9% number, yet this is China.. 1/10 GMT 06.10 Investing Strategy - Short Term 95% Cash, the rest on a tight daytrading leash.. 26/9 GMT 03.58 EU - Spain - History You all know my views on the EU and Euro and I have tried to not harp on about the mess, really I have tried.. *G* But Please just look at what´s happening in Spain!!!! It´s a precursor to what can so very quickly develop in the rest of Europe. It´s all about People, the populace of Europe and as history shows us that ill-fated political ideas sooner or later lead to serious strife. But hey it´s your boat.... 25/9 GMT 20.31 Greenland Minerals & Energy Ltd - GGG:ASX An Australian company that has been operating in Greenland since 2007.. It´s primarily about Rare Earth elements, Uranium and Zinc.. The Company is now starting to look viable and is worth a good hard look. Company Site 25/9 GMT 23.48 Lundin Petroleum LUPE:SAX - LUP:TSX You know this stock is almost boring!!.. I mean the company just keeps finding more Oil and Gas pretty much all over the place.. The Love Affair just keep´s Rollin on... *G* 25/9 GMT 23.30 Lucara Diamond Corp - LUC:SAX - LUC:TSX It´s prudent to remember that the Diamond Market is a marketplace all of it´s own.. It´s structure is very hiracial and there are a very limited amount of participants at the top of the triangle, in fact basically only two. This then leads to price manipulation on a let´s call it a "significant" scale.. And then "Bling" is always in.... 24/9 GMT 03.06 Latvian Forest Company - LATF:XSAT - NAVPS The NAVPS, Net Asset Value Per Share should now be in 10.50 SEK region... 20/9 GMT 23.21 Latvian Forest Company - LATF:XSAT - New Acreage As speculated earlier... An agreement has been reached regarding the purchase of a property package of 226 hectares. 150 of these are forest, 60 agricultural land and 16 other land. The total purchased standing volume is approx. 13,500 cubic meters. The purchase price is approx. 2.2 MSEK (250 KEur) excluding transaction costs that are estimated at 3% of the purchase price. The purchase is primarily financed through loans. The total property holdings after the purchase amount to 1,798 hectares, of which 1,197 are forest, 501 agricultural land and 100 other land. The total estimated standing volume after the purchase is approx. 128,500 cubic meters. 19/9 GMT 23.07 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Russian Impact Diamonds The Popigai crater has long been of scientific interest, much like other large impact craters for their geological and paleontological significance... Rumours of Popigai have been around since the late 90´s.. In fact there are several scientific publications from the 90´s that discuss the craters geology.. The types of diamond found would not be the type you put in jewelery but rather in cutting tools ie for industrial use.. Old News!... 18/9 GMT 01.27 The World - Markets And the Central Bank/Steroid and Computer/Robot driven markets roll on... Like Sheep..... 18/9 GMT 01.15 ShaMaran Petroleum Corp - SNM:TSX-V - SNM:OMX Just a reminder from, years ago.. 1/10 GMT 05.56 Lundin Petroleum - Iraq - Bayou Bend Petroleum - BBP:V - ShaMaran Petroleum Corp For all those who missed the latest post 5/9 about this little venture..
  • Kurdistan Presentation
  • 17/9 GMT 21.15 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Mothae Mine Auction For this stage of the development of the mine the amount sold and the price received is very good.. The trick in the Diamond business is not to give away resources in weak markets.. Consider that the average price per carat in Karowe came in at $257 per carat. Mothae averaged a price of $324.. Less carats sold but at a higer price, and the decision to hold back is very prudent. Lastly please note that the overall quality of the Mothae diamonds on offer were far less then those from Karowe! "The completion of the trial mining programme at Mothae marks a significant milestone in the project's development. We have now sold in excess of 20 000 ct of Mothae diamonds, the results of which would form a solid foundation for revenue modelling in our economic evaluation of the project,” Lucara CEO William Lamb said in a statement. He added that the information gleaned from the trial mining programme, together with a better constrained geologic and grade model and the processing of unweathered kimberlite, which made up the bulk of the Mothae deposit, would provide all of the necessary inputs for a thorough economic assessment. 17/9 GMT 01.21 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Mothae Mine Auction Results from the Auction are due out after the Canadian market close on Monday night 17/9.. 14/9 GMT 02.50 China - Power Output China’s power output in August declined 2.03% month-on-month to 444.5 TWh.. This is in line with the slowing trend. Total power output for the year has been expected to reach the 5.100 TwH level, yet that is far from this sites estimate of 4.300 ThW. 13/9 GMT 18.10 Central Banks - More Market Steroids The Fed is feeding the markets but does nothing for Mr&Mrs Mainstreet USA!! The ECB is feeding bleeding European Governments but does nothing to stimulate growth within the EU.. Just more of the same insanity! The Fed should force US banks to lend and the ECB should dismantle the Euro!!! 12/9 GMT 23.20 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Johan Sverdrup I did write.. "The Geitung prospect is by by all accounts a continuation of the Johan Sverdrup field.. This is major..." The company now agrees.. *G* 1.7 - 3.5 Billion Barrels.. That´s Major! 6/9 GMT 01.03 Nokia - NOK:NYSE Stock market analysts are like children - "we want more..". I like it when the market gives you the chance to buy a good thing for the price of a bad thing... 2/9 GMT 18.03 Latvian Forest Company - LATF:XSAT - New Acreage I belive the company has increased it´s acreage lately.. Probably in the 200 hectare range.. 28/8 GMT 02.49 Nokia - NOK:NYSE Talk about things just falling into place.. This one has a far way to go! 28/8 GMT 02.44 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Geitung prospect PL 265 The preliminary estimats of reserve size are very conservative.. 140 mmnbls to 270 mmbls. The Geitung prospect is by by all accounts a continuation of the Johan Sverdrup field.. This is major... 27/8 GMT 04.35 China - Power Output Power output grew by 6.7% or 453.69 TWh in July compared to last year.. Anemic at best as the summer months usually see a growth twice the current amount... The storage of Coal is reaching over filled levels.. But you all know where this is going... 24/8 GMT 23.40 Latvian Forest Company - LATF:XSAT - Company Half Year Report As expected! The apparent negative currency conversion rate is outweighed by the Fine Print!!... This site likes the company - Big Time, and it is bound for a far better market listing.. First North.... Why? Well because the Baltic States are fast becoming attractive to Scandinavian interests.. Latvia and Lithuanias governmental systems are more or less driven by Swedish influences, not least of all Banking.. Estonia is more within the Finnish sphere, nevertheless... "Stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they'll pay through the nose to get it! - Lex Luthor OK, so it´s from a Movie about a Comic Book.. Yet there are grains of truth all over the place.... 22/8 GMT 23.20 Nokia - NOK:NYSE I am actually contemplating moving to Finland! They know the EU is a dead Duck and they have a sad old Tire & Cable Company called NOKIA!!! 22/8 GMT 03.22 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction The Karowe K003 -2Cts auction is on the 10/9, 10.00-11.00 EST in Botswana and Antwerp.. Trade before the holiday season is for the most part brisk, and given the US Retail Stats of late and the turnaround in the US property market there are optimistic signs ahead... 22/8 GMT 00.02 Latvian Forest Company - LATF:XSAT - Company Half Year Report The half year report due 24/8 will most probably show the problems with the failing Euro.. Unfortunatly the LVL is pegged to the Euro by way of ERM II, and floats within 1% of the central rate, LVL 0.703 = €1. Yet this thus not in reality effect the company as much as you would think because the price of timber is set in $US.. Also the Swedish Krona is stronger against the Euro today than during the period reported. 20/8 GMT 00.03 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Geitung prospect PL 265 Lupe has a 10% part in this venture and as we await the drilling results and more importantly the estimate of reserve size this site belives it will be in the 300 - 500 mmbls interval, and in the upper area.. 18/8 GMT 01.35 EU - Finland - Finally the Truth! Please note that this site has earlier speculated that Finland could be the first to leave the Eurozone.. It took a Social Democrat in the form of Erkki Tuomioja, the country’s veteran Foreign Minister to open the can of worms everyone knows is festering by saying, "we have to face openly the possibility of a Euro-Break Up..” Add to this the comment made by the Right Wing leader.. - The True Finns shattered the political order in last year’s election with 19% support. “Taxpayers here are extremely angry,” said Timo Soini, the True Finn leader. “There are no rules on how to leave the euro but it is only a matter of time. Either the south or the north will break away because this currency straitjacket is causing misery for millions and destroying Europe’s future. “It is a total catastrophe. We are going to run out of money the way we are going. But nobody in Europe wants to be first to get out of the euro and take all the blame,” he said. 16/8 GMT 05.48 EU - Greece - Democracy? I find it ironic that the home of Democracy is at the mercy of something so antidemocratic as a Troika.. Amongst other meanings in the Russian language Troika means - "a commission of three for express judgment in the Soviet Union during the time of Joseph Stalin".. How Times do not change at all! I belive it´s called History.... 16/8 GMT 05.34 Nokia - NOK:NYSE S&P had to go for the downgrade, yet rememeber that it is based on historical stats and the outlook very much so... But as I have pointed out before the determination of the Fins is legendary... This company is the major turnaround candidate on scale.. 147 years of company pride is a very good motivator.... 16/8 GMT 05.30 The World - Markets This is Crazy! This market is driven by the vain hopes of eternal stimulus, just to keep us afloat... I have seen this before so many times and the destruction it will bring is staggering.. Yet every generation has to learn it´s lesson.. Karma.. 9/8 GMT 05.47 Latvian Forest Company - LATF:XSAT There is a growing institutional interest in the company.. 9/8 GMT 05.41 Lucara Diamond Corp - LUC:SAX - LUC:TSX Just remember that the Diamond Market is not a "free market place" as there are only a small group of traders, buyers, cutters etc on the not so plane playing field.. Supply and Demand are well monitered with the name of the game being - making money.. 3/8 GMT 01.05 Latvian Forest Company - LATF:XSAT An interesting company... Old concept with a heavy new leverage... 2/8 GMT 19.34 EU - ECB They fumble they stumble and their kicking the can further down the road.. Hoping against hope that Angels will materialize with buckets and buckets of pixie dust to spread over the land... 31/7 GMT 20.05 Lundin Petroleum LUPE:SAX - LUP:TSX Always tradable!! And more production... "Rabbit out of the Hat"!! 31/7 GMT 20.01 Nokia - NOK:NYSE Now I remember why I used to liked to daytrade this one!.. *G* 26/7 GMT 18.39 EU - ECB - Defending the Indefensible Poor Mario he means well I suppose but the sad man should pick up a Book devoted to History.. The market is going to bleed The ECB Dry! Simply because the only thing the ECB can do is print more money and this has to be supported by Germany and then were all back in the 1920´s and one of the main reasons for WW2.. Germans will not make the same mistake again... 26/7 GMT 00.15 Lundin Petroleum LUPE:SAX - LUP:TSX Oh yeah.. don´t forget Lundin Petroleum.. You know the "Rabbit out of the Hat"?!! 25/7 GMT 00.07 United Parcel Service Inc - UPS:NYSE UPS is like the pulse on American Commerce and when UPS is having a bad year the US is having a bad year.. And it´s a bad year. 24/7 GMT 04.59 China - Q2 GDP All things considered I belive the "True" GDP growth stats for Q2 were just above 7%.. 24/7 GMT 04.58 EU - All of a Sudden.. I know I keep harping on about the demise of the EU but it´s because I know from long experience and more importantly history, that when the proverbial sheit hits the fan.. It´s Quick and it´s Bloody. Even if as the ECB, IMF, CIA, BOE, WHO, Grandma Wilson and her two dog´s and pretty much anyone with an IQ above 70 knows it will happen, when it does.. Well. 24/7 GMT 04.25 Harley Davidson - HOG:NYSE As a long time owner of the stock and more than several bikes, I still have to wonder.. "What the Hell were you thinking..!??" When you created the Rocker... 24/7 GMT 01.32 Nokia - NOK:NYSE A stock I used to Daytrade along side of Ericsson way back when.. The company is being downgraded and more or less expected to hit the wall much due to Apple and the nonsens with their "a new product a week thinking".. Yet don´t discount the determination of the Fins! That is Finland for those who do not know or have been living on Mars for the last 147 years. Nokia used to sell tires, and good ones at that. And in the interval some pretty good mobile phones/systems.. So I am just saying.... 23/7 GMT 23.43 Africa Oil Corp - AOI:V - AOI:SAX - Puntland I did write, 23/4 GMT 01.30 Africa Oil Corp - AOI:V - AOI:SAX - Puntland Yeah, at this juncture.. Just a word of caution on this one.. This ofcourse applies equally to Range Resources Ltd - ASX:RRS - AIM:RRL and more particularly to Horn Petroleum TSX:HRN.. Just a note... 23/7 GMT 22.22 EU - The Reformation is close.. So the Band-Aid Money that was to go to the Spanish banks is now going to end up in the governments pockets.. Amazing! Who would have thunk it!! And Greece is out anyday now, at the latest in September when the government runs out of money - Again! Moody´s downgrades pretty much everybody.. After Greece I think Finland is next to leave... 22/7 GMT 22.20 Lucara Diamond Corp - LUC:SAX - LUC:TSX A lot of small investors have lost a lot of money by selling their shares based on the results from the two auctions held.. The Diamond Market is "particular" in it´s mechanics with seemingly obscure forms of auctioneering and strategies unlike other commodities, and then again not. Anyway a lot of people have lost a lot of money due to not knowing the basics.. Then that´s just my view.. 13/7 GMT 23.43 China - Q2 GDP Looking at the Power Output numbers I just don´t belive the 7.6% GDP Stats!! The Chinese Government is fudging the Stats.. No big surprise... 13/7 GMT 23.40 China - Power Output China's electricity output was 393.4 kWh in June, flat compared to last year.. Power production in the first six months of the year increased 3.7%. Note that the first half of 2011 saw a growth of 13.3%... Full year growth in 2011 was 12.1%.. 12/7 GMT 02.25 EnQuest PLC - ENQ:SAX - ENQ:LSE I wrote, perhaps a bit overstated, 1/6 GMT 01.58 EnQuest PLC - ENQ:SAX - ENQ:LSE Probably the safest Oil Stock on the planet, next to Lupe.. Yet both stocks show a remarkable general resilience in an uncertain marketplace.. 12/7 GMT 02.23 China - Q2 GDP I wrote, 7/6 GMT 20.15 China - Q2 GDP This site expects the Q2 GDP Growth Rate to come in at 7.4%... Just a Heads Up! For the year I am looking for something closer to 6.0%... Bank of Korea lowers interest rate to 3%.. Take note! 12/7 GMT 01.40 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction The Auction is now only to be held during one hour 10.00 to 11.00 CEST, CAT.. As stated earlier in this economic climate with the EU falling into pieces etc, any sale is a good sale.. Cash-flow is the life blood of a company and at this time it may be anemic but it´s still cash in bank.. 7/7 GMT 01.02 Lucara Diamond Corp - LUC:SAX - LUC:TSX I think what is pretty much forgotten here is that every Auction completely successful or not is cash-flow.. The company so far has more or less only had costs but now with an auction a month we are in the business of making money... In this the current stock price is a steal... 5/7 GMT 20.10 EU - Wolfson Economics Prize The winner of the WEP is Roger Bootle and he perfectly reflects the long held opinion of this site.. A team from Capital Economics led by Roger Bootle has this morning been announced the winner of the £250,000 Wolfson Economics Prize. The winning entry outlines the smoothest process by which a member state could exit the Eurozone. It concludes that even though there would be some losers as well as winners from the exit of one or more members from the Euro, the net effect overall would be distinctly positive for the future growth and prosperity of the current membership – and for the wider world. The team’s submission, Leaving the euro: A practical guide, centres on the departure of a single weak member such as Greece. It suggests that:- * A new currency is introduced at parity with the Euro on day 1 of an exit. * All wages, prices, loans and deposits are redenominated into it 1 for 1. * Euro notes and coins would remain in use for small transactions for up to six months. * The exiting country would immediately announce a regime of inflation targeting, adopt a set of tough fiscal rules, monitored by a body of independent experts, outlaw wage indexation, and announce the issue of inflation-linked government bonds. It also recommends that government should redenominate its debt in the new national currency and make clear its intention to renegotiate the terms of this debt. This is likely to involve substantial default – perhaps sufficient to reduce the ratio of debt to GDP to 60%. The paper proposes that key officials from the exiting country meet in secret one month before publicly announcing a day of exit or ‘D Day’. Eurozone partners and other international monetary organisations would be notified of D Day three days before – preferably on a Friday – when a public announcement is made that the changeover to the new currency will take place at the start of the following week. Immediately after this announcement, domestic banks and financial markets should be closed to prevent capital flight. The government of the exiting country and the institutions of the EU should seek to minimise uncertainty over the legal issues, for example by providing guidance on the validity of redenomination, the status of the exiting country with the EU, and the continuity of the Euro itself. The judges unanimously viewed Capital Economics’ submission as the most credible solution to the question of how an orderly exit from the Eurozone by one or more of its member states could be managed. Commenting on his win Roger Bootle, Managing Director of Capital Economics, said: “I am absolutely delighted to win the Wolfson Prize. It has been a team effort and I would like to pay tribute to my colleagues at Capital Economics who collaborated with me. “Our suggested exit path from the Euro involves the overnight introduction of a national currency, with monetary amounts converted at 1 for 1, while the currency is allowed to fall well below this on the exchanges. Until new notes become available, non-cash means of payment and Euro cash are used. “People may disagree on whether leaving the Euro is a good thing, but the contribution of the Wolfson Prize has been to demonstrate that it can be done.” Greywolf note: - Read the Judges motivation!!... 1/7 GMT 23.55 The Markets - Trading Despite the "Historic Mess" the Europeans are getting themselves into there is Great Trading afoot.. Every inane solution to the problem leads to rallies that all eventually fizzle and die once the smart Money has made a buck or two... It´s at times like these when the rich get richer and the less better off pay the price for grandiose political folly.. 30/6 GMT 19.10 EU - Summit Number 24 coming up - The Start of the Great Divide Europe is following a well worn path with the beginnings of fragmentation into zones of self-interest, and as the blueprint shows any ambitions to force everyone closer together will only lead to war on one scale or another.. Again End the Madness Now!! 28/6 GMT 02.34 EU - Summit Number 23.. Let it be the last one!!! 26/6 GMT 00.05 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Diamond Auction The auction is held on the 16/7 between 0900 and 1300 CEST and CAT, in Antwerp and Botswana. Karowe is using what is commonly known as the Second-Price Auction, in which customers submit bids given some dynamics on line, and the highest bidder wins, but pays only as much as the Second-Highest bid. 22/6 GMT 02.13 USA - Domestic Oil & Gas Exploration Interesting licensing round in the Gulf, oversubscribed and all that!!.. 22/6 GMT 02.01 EU - Germany Answer me this... How is the second largest exporter after China going to be able to hold togheter a monetary union that has no founding roots in Economy but only in diverse yet similar political ambitions? Yes ofcourse as a huge exporter to "other" Europeans countries the Euro has been good for the mercantile Germany, with 60% of it´s exports going to the "rest" of Europe.. Yet Germany is not going to bail out more countries in Europe without a form of total control, and that should and will never happen again!..... 22/6 GMT 01.40 Lucara Diamond Corp - LUC:SAX - LUC:TSX In small volume trade there are easy pickins... The July sales auction will be a totally different ball game.. 18/6 GMT 02.58 EU - Greek Elections - Bail Out Hope Enjoy the Rally because it will be short lived.... 15/6 GMT 03.11 Lucara Diamond Corp - LUC:SAX - LUC:TSX At this level despite the demand issue this stock is one of a small bunch of prospects that I am buying Big Time! 15/6 GMT 03.05 EU - Central Banks - Help we are Drowning!!.. The not so big secret is that Central Banks are going to Stimulate the Economy over the weekend or in the near future.. Why? Well what the hell could they otherwise do! The EU can not be stimulated to any form of Growth unless it turns from the Austerity to the Growth mode, and that is not going to happen because the singel currency and the failed political project called the EU has nothing to do with growth... 13/6 GMT 01.34 EU - The Great Lie The greatest lie currently being purported is that if the EU and Euro fails the Sky will Fall... That is so much BS! For sure their will be a period of turmoil but as history shows this will be fairly brief, especially as much of Europe clandestinely is more or less prepared for the inevitable event. In this a far better outcome than the continuation of yet another horribly failed dream of Franco/German rule over the continent. Read a book on History!!! 12/6 GMT 00.51 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Auction Well given the economy 30 out of 35 packages sold is not that bad.. The diamond is a commodity that does tend to ride the front of the wave of financial trends and right now it´s weak and heading lower.. 12/6 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API + 1.6 mmbls) Gasoline (API - 0.9 mmbls) Distillates (API + 0.5 mmbls) Refiners 88.7% Gasoline Demand is down - 3.5% y-o-y... Pretty much the trend, despite the price at the pump being - 4.5% lower than last year.. 12/6 GMT 14.01 China - Power Output - May Preliminary stats say a growth of + 2.7% in May year on year... See why this site follows Power Output? It´s arguably the best GDP indicator available... 9/6 GMT 22.16 EU - Spain - Band Aid sorry Bank Aid ie same Difference The EU must think the rest of the world is filled with morons!? €100 Billion to help Spanish Banks is Peanuts!! It does not create one single more point of growth or employment, well OK it does save a lot of not so very smart bankers from losing their jobs but that´s about all.. To save Spain you are going to need Trillions, and then there is Italy, France, Portugal et al.. Instead of contemplating bombing Iran the rest of the World should seriously have a look at sorties over Brussels... Spain has just officially admitted to weakness, Wolf´s feed on weakness. 8/6 GMT 00.03 Oil USA - Statistics from the EIA - API OK a bit late but nonetheless poignant, the US saw a build in Petroleum Inventories of 6.8 mmbls and a reduction in Total Demand by 2.0% last week, in this then more of the same... 7/6 GMT 20.25 EU - Long Train Running Faster.. For those not familiar with this site.. For a clue as to what is about to happen to the EU and Euro, read up on European History in this include Russia and pay particular attention to Germany in the 1920´s and 30´s, and then follow through with some more reading about Monetary Unions. Especially with one fellow in mind, Alexander Hamilton... For old friends of the site, well you know the Break Up Train is gaining speed.. After 17/6, Sunday Week the Turbo kicks in. 7/6 GMT 20.15 China - Q2 GDP This site expects the Q2 GDP Growth Rate to come in at 7.4%... Just a Heads Up! For the year I am looking for something closer to 6.0%... 3/6 GMT 19.55 Oil - The Markets - The Contracts The $US is the key, alongside the Global Slowdown.. The Currency that say´s safety is the Old Greenback and with this one gaining in strength the price of oil is going to continue to head South, in this about 90% of the worlds oil contracts are traded in the $US... This site has a short to medium term target for WTI in the $70-$72 region but all that is needed for this level to be beaten down is more "facts" about that which has been coming down the line like a freight train for a very long time ie Global Recession... With the EU responsible for about 90% of the Cause. 2/6 GMT 02.21 Oil - US Hurricane Season The prediction say´s - A Mild Hurricane Season with a median amount of Named Storms at 13.. 1/6 GMT 01.58 EnQuest PLC - ENQ:SAX - ENQ:LSE Probably the safest Oil Stock on the planet, next to Lupe.. 1/6 GMT 01.35 Oil - The Markets US Crude storage is building and is now at a 22 year high. And as seen by the latest data from China the US and India the Global Economy is slowing down.. You would have had to be living on Mars the last couple of years to miss it... Once the bottom falls out of the Oil Price it can run. The last time it ran it went from the ridiculous level of $147.50 to $33 quickly enough to make very many shed tears.. And the shirt´s of their backs... 1/6 GMT 00.27 India - GDP Growth Q1 growth 5.3%, this then down from the Q4 2011 rate of 6.1%... That´s along way away from the benchmark growth rate of 9.0% everyone was counting on from the "Penultimate Power of Growth".. China PMI 50.4% in May.. Down from 53.3% in April. US GDP 1.9%, anemic... 1/6 GMT 00.18 Cellpoint Connect - CPNT:XSAT It does actually look more and more as if this piece of, jewel in the rough will make it after all.. As stated earlier, "Dusted off and made shiny this one is set to run"... 31/5 GMT 21.56 Iraq - Oil Production 2012 - 3.4 mmbpd This year, the Iraqi Government is targeting output capacity of 3.4 mbpd, bringing its output back into line with the oil production of Iran, up from a claimed level of 3 mbpd last year. The ability to export oil, particularly from the south of the country, will be critical in realising that potential. In the south, the Basra Oil Terminal is already operating at close to its capacity of 1.8 mbpd, while a lack of storage capacity means that any disruptions to loading, for example as a result of bad weather, have an almost immediate impact on production. The start up of the first of Iraq’s new 0.9 mmbpd single point moorings has been delayed from the end of 2011, with a 1/2 deadline also missed, but officials still expect the loading terminal to be operational by the end of Q1 2012. Two further SPM´s are due to be installed by the end of the year. Shell, operator of the Majnoon field, intends to raise production there from 0.06 mmbpd in 2011 to 0.18 mmbpd by the end of 2012 and operators at Iraq’s other big southern projects are also aiming to raise capacity. Oil production capacity in the north of the country is expected to rise substantially in 2012, with the Kurdish Regional Government targeting an end of year production capacity of 0.42 mmbpd. Producers in Kurdistan will, however, be dependent on the Baghdad controlled North Oil Company to export oil via the Iraq-Turkey pipeline to Ceyhan. 31/5 GMT 14.17 Lundin Petroleum LUPE:SAX - LUP:TSX The insurance and pensions company Folksam which today owns about 1.2% of the outstanding shares is going to sell them all over the next few months. This then due to the Sudan nonsense.. Folksam is controlled by the Swedish Socialist Party´s not so secret sphere of companies and organisations and is therefore a vehicle for "off the book" political lobbying for the party machine.. This will put some pressure on the stock which ofcourse is nothing but a huge buying opportunity... It´s the other man´s ideology that makes you rich.. 29/5 GMT 00.08 EU - Spain It will be the fate of the Armada once again, the smart money left years ago... 25/5 GMT 00.48 USA - Domestic Oil & Gas Exploration As this site has pointed out earlier US domestic oil % gas exploration is about to take off! This then instigated by a democratic party President... 25/5 GMT 00.01 EU - Summits 18 summit meetings and the morons who run this "Politicians Wet Dream Project" have gotten no further.. The EU is dead and it will be one of history's greatest laughing stocks.. If I was a Greek with Euros in the Bank I would have closed the account months ago and moved all funds out of country.. But not to any Euro Based Country!! 15/5 GMT 00.12 EU - Greece - Official Default Greece has a €436 million principal loan repayment due today. The country has not yet decided what to do. The problem is that the terms of the Debt Contract due to a loophole gives Greece the ability to keep from fullfilling this payment, pretty much forever... However if payment is not made the country officially enters into Default! 14/5 GMT 17.03 China - Power Output - April Power output rose 0.7% in April compared to last year, the lowest since 2009.. Electricity output totaled 371.8 billion (kWh) in April, down from 401 billion kWh in March.. Add to this that China's factory output only rose by 9.3% in April compared with March's 11.9% and as this site has long pointed out China is heading for a "near" Recession... 3/5 GMT 10.40 EnQuest PLC - ENQ:SAX - ENQ:LSE Continued Massive Buying of this Stock!... The reason will soon become apparent... 1/5 GMT 23.22 USA - Domestic Oil & Gas Exploration North America leads all world regions with a projected total upstream spending (CAPEX and OPEX) of $392 billion in 2012. CAPEX is expected to reach $274 billion in 2012, driven by the region’s boom in unconventional production including oil sands, tight oil, shale gas, tight gas and coal bed methane, which are forecast to account for $128 billion of the 2012 total. Driven by continued investment in unconventional resources, total North America spending is expected to reach $528 billion in 2016. 23/4 GMT 01.30 Africa Oil Corp - AOI:V - AOI:SAX - Puntland Yeah, at this juncture.. Just a word of caution on this one.. This ofcourse applies equally to Range Resources Ltd - ASX:RRS - AIM:RRL and more particularly to Horn Petroleum TSX:HRN.. 21/4 GMT 02.47 EnQuest PLC - ENQ:SAX - ENQ:LSE "As stated before, Buying this one Big Time!!! Target £2".. 15/4 GMT 03.12 China - Power Output - March Power output only rose by 7.2% in March at 401 billion kWh.. The "Market" expected 7.5%.. 13/4 GMT 02.00 China - GDP So 8.1%... This then below the expectations of far too many, non-readers of this site that is... 12/4 GMT 23.42 North Korea - Kim Jong Un-successful Communists the world over must have felt a wave of pain as the rocket from their Paradise fell to Earth just a minute away from the launch site.. The problem is that as any petulant child North Korea with it´s "Little Boy Leader" can because of the huge loss of face push the limits further.. 12/4 GMT 14.23 China - Power Output - Q1 Ahead of the March stats, this site expects the Q1 numbers to come in - 2% to - 3% below last years level.. 10/4 GMT 00.01 USA - Domestic Oil & Gas Exploration The next growth sector in the oil industry is going to be in the companies that are partaking in the "New Oil Boom" in North America.. Ofcourse the majors are there but a large part of claims are being bought by small independent companies which in succesfull exploration have huge latent momentum in the share price. 6/4 GMT 00.35 EU - It´s very simple.. It´s very, very simple.. Until the EU is broken up and everyone recognises the fact that, "The best laid schemes o' mice an' men gang aft agley".. Well until such time the markets are going to slide, simply because 500 million people are living in an ever larger and deeper hole! Crashes in the market only come suddenly for those who do not see... 1/4 GMT 01.19 2012 - The End? Or Just a Calendar Ticking Over?? The Mayan k'in Calendar much like an Odometer ticks over to a new cycle on 21/12/12 or does it.? I belive the 7 million current Mayan decendents would like to see the calendar do just that.. Others see the end of The World!! I see an interesting Options Spread Bet.... Mayan k'in - Long Count Calendar Countdown
    1/4 GMT 01.17 Oil - The Markets There is no problem with the Supply of Oil, never has been yet the price of the contracts just keeps rising. Well the internals are easy enough to figure out ie that Brent is at a premium to WTI.. This is simply beacause Brent which is a conglomerate of four types of oil Brent Blend, Ekofisk, Oseberg and Forties Blend are all more attractive to Asian Refineries who are geared up for the heavier Brent Oil. Again there is no problem with filling orders to these refineries.. Iran is here the Ghost that is, but we all know that religiously crazy as the Iranians are they don´t want a war.. Yet the risk premium remains. Sadly added to this is the General Fear Factor, as seen in the UK where people are queuing up for Gasoline without really knowing Why!? - The General Fear Factor!??.. Stupidity from the guy in his car waiting inline for four hours straight onto the oil trading desk!! And like everytime before the collective Stupidity drives the market to a point where the economy at large takes a huge hit.. When oil was heading for $147.50 the last time around I got out at $98.. 31/3 GMT 01.52 Peak Oil This site can only welcome the growing criticism from more and more Scientific Sources regarding the Nonsence that is The Peak Oil Theory as presented by Marion King Hubbert in the 1950´s.. MKH´s ponderings have unfortunatly been the framework for decades of political and environmental decision making which has more or less gotten us into to the mess we currently are in.. This site called the Peak Oil Theory, Nonsense decades ago, simply becaues it is just that..! Former Saudi oil Minister Sheik Ahmed Zaki Yamani once said, "The Stone Age didn't end because we ran out of Stones." 30/3 GMT 12.21 EnQuest PLC - ENQ:SAX - ENQ:LSE - The CEO Speaks.. 27/3 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API + 3.6 mmbls) Gasoline (API + 1.3 mmbls) Distillates (API - 1.4 mmbls) Refiners 84.2% For the price of "Paper Crude", yeah not so good.. Also US retail Gasoline demand is - 7.0% below last years level and for the season the lowest since 2004.. Leading US North Eastern refiners to close in just under 1.0 mmbopd in Gasoline production.. 27/3 GMT 02.46 Lundin Petroleum LUPE:SAX - LUP:TSX - Mendacity The level of mendacity surrounding the company, again seemingly knows no bounds.. Yet the totally egregious behaviour by different organisations and entities is hardly surprising given their true agenda.. 27/3 GMT 02.34 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Operations Report This site wrote.. "This site Does Not expect the company to disappoint in the Up-And-Coming Report..." Again the Company delivers... 24/3 GMT 00.02 North Korea "North Korea´s forthcoming missile launch will be aimed towards South-East Asia and Australia for the first time, the US has warned." Well actually it´s only a simulation as if you reverse the proposed flight plan to go North instead, well then due to the Earths rotation and Newton law´s the point of "possible" impact would be within the USA´s Eastern Seaboard... 22/3 GMT 01.48 EU - The Final Breakdown Initiated I am amazed it´s gone on for this long.. But the final breakdown of the limp member union is at hand, Greece can not be kept floating for ever and Spain, Portugal and Italy are all along the same road. This site can only come to the conclusion that all forms of intelligent life have left the global economic system... So how is China doing.?? You know the engine of growth!!??.. 21/3 GMT 19.02 EnQuest PLC - ENQ:SAX - ENQ:LSE - Lower Company Tax Please note that the UK is lowering Company Tax from 24% today to 22% on the 1/4... 21/3 GMT 18.57 EnQuest PLC - ENQ:SAX - ENQ:LSE - Lower North Sea Tax This site wrote the following last year.. 14/10 GMT 22.25 EnQuest PLC - ENQ:SAX - ENQ:LSE Prime Minister Cameron speaking at a ceremony regarding BP´s new project West of the Shetland Islands said the following concerning the new taxes imposed on the North Sea Oil and Gas Industry, "Mr Cameron claimed that by helping to avoid increases in fuel duty proposed by the last Labour Government, the tax rise had allowed the Government to provide benefits for all. He insisted ministers had done this without damaging the oil and gas industry. “As we see today, investment is going ahead,” the PM said. He added: “There’s a balance to be struck between how much tax the Government should take and how much is necessary to encourage investment in the North Sea, and I think the balance is appropriate.”However, Mr Cameron signalled that ministers could make further tweaks to the fiscal regime in the North Sea. He said: “I think it’s important for jobs and investment in the North Sea that we try and make sure we look at all potential ways of getting marginal fields onstream and recovering more oil from fields that are onstream.”" An opening play in perhaps pulling back some on the tax scheme.. This site belives that the government stretched too far and will have to retreat, in a politically correct way ofcourse.. 18/3 GMT 03.27 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Operations Report This site Does Not expect the company to disappoint in the Up-And-Coming Report... 10/3 GMT 02.15 EnQuest PLC - ENQ:SAX - ENQ:LSE "As stated before, Buying this one Big Time!!! Target £2".. A serious bid for the company today would have to be in the £2 - £3 range, however if the the Ithaca deal pans out beforehand well then it´s a whole new ball game.. Whatever happens this company is in play and as such it´s a very profitable prospect.. All this site can reiterate is - Buying this one Big Time!!! 10/3 GMT 01.59 Sweden - Weapons Systems Sweden is the number one producer of weapons in the world per capita.. The weapons and weapon systems they produce are damned good - par none.. The problem is that Sweden and Swedes have a very perverted mental picture of their own place in the world... Steel exporters to the Third Reich during WW2, supporters of every terrorist cause the world over and ofcourse weapons manufacturers. But at the same time Swedes belive they are the worlds moral conscience.. This sites simple advice is - Keep making excellent weapons.. Or simply get out of the Game! 10/3 GMT 01.53 EU - Greece - CDS´s The Instrument was created for just this type of situation and nobody read the "Fine Print"??.. I swear the world is run by Morons! Hell yes the Bond Holders are going to go running for their Insurance Protection.. 6/3 GMT 01.47 China - GDP So Chinas GDP is expected to only grow at 7.5% during 2012, this then stated by the Government.. Anyone who has followed this site for awhile should not be as surprised as the market seems to be. A GDP growth of 7.5% might sound like Nirvana to Western Economies, the truth is that anything below 5% as far as China is concerned is Recession! 2/3 GMT 16.07 EnQuest PLC - ENQ:SAX - ENQ:LSE "Coming down to the wire regarding Ithaca Energy Inc - IAE:T".. The real "Honey in the Pot" for anyone acquiring Ithaca is the $300 million UK Tax Loss the company is currently sitting on, and this is growing every day... For ENQ this would fit like "Hand in Glove".. Given the other potential bidders and all other things considered this site belives this one goes to Enquest at somewhere around $3.75 per share.. 1/3 GMT 18.33 EnQuest PLC - ENQ:SAX - ENQ:LSE Coming down to the wire regarding Ithaca Energy Inc - IAE:T.. 29/2 GMT 22.11 Oil - USA - Net Oil Product Exporter For the first time since 1949 the US was a Net-Exporter of Oil Products in 2011.. The main reason, US oil product demand fell by 9.5% to 18.8 mmbopd last year from 20.8 mmbopd in 2005.. This is expected to continue into 2012 and 2013. Domestic oil output rose by 3.6% to 5.7 mmbopd, an eight-year high, this also is expected to continue in the years ahead.. 27/2 GMT 00.07 China - Power Output - GDP Indicator This site has followed the Power Output numbers from China for a long time as they are a good indicator as to where the general economy is heading.. Case in point, please see graph. 26/2 GMT 02.14 Oil - The Contracts - WTI - Brent There is a $15 - $20 premium, or if you will "Risk Premium" in the contract price at the moment much due to Iran and once again the "talking heads" are assesing the top of the curve at above the previously silly level of $149.50. Well it may come to that but it has nothing to do with fundamentals and they have changed little since before the current crisis ie 2008 to the present. Only the reasons change.. Lesson.. Play the swings but do not be fooled into thinking they are the truth, for they seldom are. One fact is true - there is no Deficiency in Supply! All else is mechanics, play that discrepancy well... 25/2 GMT 19.40 EnQuest PLC - ENQ:SAX - ENQ:LSE As stated before, Buying this one Big Time!!! Target £2.. 23/2 GMT 20.04 Cellpoint Connect - CPNT:XSAT The Kincaid Sp.zoo mess is finally at an end.. Despite the fact that the company could have sold this asset at an early stage of this comedy, they could never get it done. Now as we all know it´s worthless.. The decision to use current shareholders equity to pay back loans made pre 2009 is another gigantic "hole-in-the-head" plan.. The company could and should have been put into receivership at the start and the new capital infused by this site and other new investors used with far more prudence and financial gain.. Yet that is all water under the bridge today. The current CEO and Chairman have incorporated their own company into CPNT and also bought a fair share of the new CPNT at the same time either directly or more importantly through different close quarter companies.. So now is the time to Start Making Money!!! This site has been accumulating a further good chunk of shares of late... Let´s face it at 0.10 SEK the stock is cheap any which way you look at it.. A Given Buy!! After all any good communicator could talk this stock up a couple of hundred percent on the basis that the company now actually has some form of venture... As this type of company is not involved with resources this site would have given it little attention, simply because it´s not in my field of interest. Yet that matters little if you can see the potential of "a good thing", as was the case way back in 2009.. Dusted off and made shiny this one is set to run... 23/2 GMT 20.46 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Revenue - Corrected "Sales increase to the tune of 90%.." This passage makes no sense at all!! The posting refers to the expected revenue for 2012 based on the processing of about 300.000 carats with an expected revenue of $90 million.. I apologize for the nonsensical posting... 14/2 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API + 2.9 mmbls) Gasoline (API + 1.8 mmbls) Distillates (API - 2.2 mmbls) Refiners 83.7% US retail Gasoline demand is - 5.4% below last years levels.. The average price of gas at the pump is 12% above last year.. 8/2 GMT 23.47 Site Updates Lack of updates due to a lack of time.. Also just waiting for Greece to fall off the map! Nine Euro States want to introduce a "Tobin Tax".. What the heck is that all about? Have all forms of intelligent life left Continental Europe? Go for it I say, especially France... Morons.. As far as trading is concerned it´s fast and all over the place, a tempo way to fast to cover on the site.. Buying Enquest, Big Time!! Lucara Diamonds and broad US Equity Funds, amongst other thing´s.. In Australia the RBA really does need to act.. 19/1 GMT 10.04 Falkland Islands - Oil Look for the interest in drlling off the Falklands to grow going forward, in this Rockhopper have made some of the interesting finds.. There is Oil out There - UK Oil! 18/1 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API - 4.8 mmbls) Gasoline (API + 4.3 mmbls) Distillates (API - 0.9 mmbls) Refiners 83.1% US retail gasoline demand is still -4% below last years levels.. 18/1 GMT 01.11 China - Power Output - 2011 China's power output growth eased last year as the world's second-largest economy slowed, and the weakness is likely to extend into 2012 with consumption from the country's biggest energy-guzzling sectors expected to remain stagnant. In total 2011 power output growth was down from 13.3% in 2010, Power output rose 12% to 4.6 trillion kilowatt-hours in 2011, weaker then than an annual growth rate of 13.3% in 2010.. The growth rate for 2012 is this site belived set to come in at around 7% to 9%... 12/1 GMT 01.27 EnQuest PLC - ENQ:SAX - ENQ:LSE - Crathes The full extent of the Crathes find has not yet been revealed, but is due to be so in a few short weeks.. 11/1 GMT 01.03 EnQuest PLC - ENQ:SAX - ENQ:LSE There are only good thing´s ahead for this Lundinesque Oiler... 10/1 GMT 14.30 Oil USA - Statistics from the EIA - API Crude + 5.0 (API + 0.4 mmbls) Gasoline + 3.6 (API + 1.9 mmbls) Distillates - 0.4 (API + 0.9 mmbls) Total commercial petroleum inventories + 9.4 Refiners 85.6% Retail Gasoline demand is currently running - 4.2% below last years level. Total Petroleum Product demand is - 6.5 year on year... 2/1 GMT 11.10 EnQuest PLC - ENQ:SAX - ENQ:LSE - Questor's top share tips for 2012 Enquest is very cash generative – and has ambitious production growth plans. The oil group is a specialist in increasing recovery rates at older fields, skills which are effectively being employed in the North Sea. The company, which was spun out of oil services group Petrofac in March 2010, is targeting an increase in oil production of 50pc by 2015. At the interim stage EnQuest had a net cash position of $266m (£173m), representing about a fifth of its market capitalisation. Some analysts reckon its cash pile could grow to as much as 70pc of its capitalisation by 2013. However, Questor believes this is unlikely to happen. Instead, the oil group is likely to use its cash pile to act as a major consolidator in the North Sea. The group has already been increasing its stake in the Broom fields to 55pc and it has bought a 40pc interest in the Crathes and Moon prospects. A new discovery at Crathes was unveiled in November. In November, the company said that it expected to near-double oil production in the next two years as it invests $850m developing a new hub in the North Sea to develop its Alma and Galia oil fields. The shares are trading on a December 2012 earnings multiple of 11.9 times falling to 9.5 in 2013. Brent crude prices are expected to remain robust, with Goldman Sachs forecasting a price of $127.50 in 2012. However, an oil price slump caused by a deep global recession will drag the oil price significantly lower. Conversely, more tension with Iran over the key Strait of Hormuz in the Persian Gulf could see a spike in the oil price. Buy for increasing production and exploration upside. 30/12 GMT 8.01 EnQuest PLC - ENQ:SAX - ENQ:LSE - New Block 16/3d UK Hands Out 46 New North Sea Exploration Licenses.. Enquest picks up one through Stratic a wholly owned subsidiary of EnQuest for 1 firm well and to reprocess 3D.. The UK has awarded 46 new licenses to explore for oil and gas in the North Sea, the Department of Energy and Climate Change announced on its website Friday. The awards, part of the country's 26th offshore oil and gas licensing round, came as the UK handed out 144 licenses in total. Companies to snap up the new exploration blocks include Royal Dutch Shell PLC (RDSA.LN), Germany's Wintershall AG and France's GDF Suez SA (GSZ.FR). "These further licenses have been subject to rigorous examination, and we are now satisfied that initial exploration can go ahead," said Energy Minister Charles Hendry. "These continued high levels of interest, and the award today of these licenses, gives me yet more reason to be optimistic for a prosperous 2012 for the UK oil and gas sector," Hendry added. 29/12 GMT 14.30 Oil USA - Statistics from the EIA - API Crude + 3.9 (API + 9.6 mmbls) Gasoline - 0.7 (API + 1.9 mmbls) Distillates + 1.2 (API + 0.5 mmbls) Total Petroleum Inventories + 3.1 mmbls Refiners 84.2% Crude Import 9.0 mmbopd Gasoline Import 0.5 mmbopd 19/12 GMT 10.49 EnQuest PLC - ENQ:SAX - ENQ:LSE Notification of Transactions by Persons Discharging Management Responsibility (`PDMRs'). Director/PDMR Shareholding EnQuest PLC (the "Company") 19 December 2011 Pursuant to the Company's obligations under Disclosure and Transparency Rule 3.1.4, the Company hereby notifies that the following Director purchased Ordinary Shares of £0.05 each in the Company (the "Shares"): Double A Limited, a discretionary Trust in which the extended family of Amjad Bseisu have a beneficial interest, notified the Company on 19 December 2011 that it purchased 678,168 Shares on the London Stock Exchange on 16 December 2011 at 88.74 pence per share, totalling 0.08% of the share capital of the Company. Prior to this transaction, Double A Limited held 58,373,587 Shares, being 7.27% of the share capital of the Company. The total holding of Double A Limited following the transaction is 59,051,755 Shares, being 7.36% of the share capital of the Company. Alima Trust, a discretionary Trust in which the Bseisu family has a beneficial interest, holds 9,225,157 Shares, being 1.15% of the share capital of the Company. The Company's issued share capital consists of 802,660,757 Shares with voting rights. Each Share carries the right to one vote. The Company does not hold any shares in Treasury. Contact for enquiries: EnQuest PLC Paul Waters Company Secretary 020 7925 4900 15/12 GMT 02.16 China - Power Output - November As I have stated before Power Output is a very good early gauge of how the Chinese economy is doing. This is also the reason I cover the monthly output.. In November output was up by 8.5% the slowest year-on-year growth number for 10 months, at 371.3 billion kilowatt-hours. China's Industrial Output growth hit its slowest pace in more than two years in November and inflation tumbled as economic conditions deteriorated... Power consumption by industries accounts for more than 80% of the total in China. So much for the fabled Economic Engine... Note that Gross Domestic Product in China expanded 9.1% in Q3 down from 9.5% in Q2.. At a growth of 5% China is pretty much close to recession.. 15/12 GMT 01.53 EU - Euro - Enough Already!! The UK did exactly the right thing, once again Britain stands alone against the "Moronic" Continent & Wannabies!! What David Cameron did is what one would hope more will do, Soon!! Give it up, the French/German Dream is Dead! How to make money from the Break Up? It´s really not that difficult.. More on this.. 12/12 GMT 00.03 BlackPearl Exploration - PXX:TSX - PXX:SAX - NEB Report Oil sands output to triple by 2035: Report, Oil sands production in Canada will likely triple by 2035, making it the overwhelming source of Canadian crude oil and opening doors to additional energy exports, says a new report from the National Energy Board. The NEB says massive growth in oilsands development, coupled with a moderate increase in Canadian energy demand, means the amount of net crude oil available for export will more than triple over the next 25 years — good news for a federal government eyeing new energy export markets in the Asia-Pacific region. Unconventional energy production — including development of the oilsands and shale gas — will emerge as the “dominant source of supply growth” over the next quarter-century, according to the NEB, Canada’s energy regulator. But the growth in oilsands production is sure to spark additional criticism about developing the so-called “dirty oil” and its impacts on land, air and water. The European Union is considering a fuel quality standard that would penalize the oilsands, while the Obama administration has delayed a decision until 2013 on the contentious Keystone XL pipeline that has sparked mass protests in the United States. As conventional crude production continues to decline in Canada over the next quarter century, oilsands production will triple during that time to 5.1 million barrels per day, from the current 1.7 million, the board predicts.The ramping up of bitumen production will see the oilsands increase its share of Canada’s total oil supply to 85 per cent by 2035, up significantly from the current 54 per cent, says the regulator’s report. “We’re very much aware that we have oil that the world needs and wants and we can really in a responsible way become a source of energy security for the world,” federal Natural Resources Minister Joe Oliver said Tuesday about the NEB report. “We need to diversify our customer base.” Under its mid-range forecast, the NEB says total crude oil available for export will increase 148 per cent over the next quarter-century to five million barrels a day. But Nathan Lemphers, a senior policy analyst with the Pembina Institute, an Alberta-based environmental think-tank, said governments and industry must address the mounting environmental challenges with oilsands development if Canada is to reach its energy potential. “It may be possible to have that level of production, but you’ll start to have more and more problems — just like they’re having with Keystone XL or the fuel quality directive — until you start addressing the oilsands’ environmental impact,” Lemphers said. “If any growth is to be seen from that industry, there will need to be a marked improvement in environmental management and regulation in the industry.” The U.S. government’s decision to delay a ruling on the $7-billion Keystone XL oilsands pipeline, while it looks at rerouting it, has the federal government eyeing Asian markets for Canadian petroleum exports. Currently, Canada only ships oilsands crude to the United States. Keystone XL would carry up to 830,000 barrels of oil per day from northern Alberta to refineries on the Gulf Coast of Texas. “Canada can and will provide Asia with the resources it needs to fuel the rapid pace of its economic expansion,” Oliver said Tuesday. Canada’s energy hopes are very much pinned on Enbridge’s $5.5-billion Northern Gateway pipeline, which would ship oilsands bitumen from northern Alberta to port in Kitimat, B.C., where oil would be loaded onto tankers for export to Asia. The Northern Gateway project is currently under review by the NEB and the Canadian Environmental Assessment Agency. The pipeline could be operational by 2017. The NEB report notes Canada currently has 173 billion barrels of remaining proven oil reserves, 98 per cent of which is located in the oilsands. However, the country has “ultimate potential” of 343 billion barrels, it says. 9/12 GMT 01.24 EU - Euro - Palliative Care.. Apart from the fact that most Europeans seem to be "Brain Dead", the politician´s run a weird form of Eurodemocracy, ie don´t ask the Citizens of Europe what they think but plow ahead with ideas of Political Grandeur.. Apart from that very Sad and very, very Dangerous fact.. Growth!!?? It´s all well and neat to call for Austerity and higer Taxes, lower Pensions, less public Employees and to administer palliative care to a Currency and Union that is for all intents and purposes already Dead.. But who the Hell has said anything about Growth?.. Not one damned moronic EU Politician.. This site called the Death of the Euro and the EU years ago, prime cause lack of Growth and Competition!! Brain Dead!! Where are the massive protests in the Street´s? Democracy has all but been Eradicated... "Many forms of Government have been tried and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise. Indeed, it has been said that democracy is the worst form of government except all those other forms that have been tried from time to time." - Winston Churchill May 14, 1947 9/12 GMT 00.28 Cellpoint Connect - CPNT:XSAT - Activity The "new" management, there have been a few since this site started covering the company, has almost cleaned up the mess left by the pre 2009 crew.. The Kincaid Sp.zoo sale is still on the cards and the licenses have according to the company been extended, no info to the marketplace... Something this site has called for in discussions with the management.. Their peoblem! Anyway it does seem as though the stock is on the move and it could be as stated before - The Turnaround Case Of The Year.. Or at least a fast runner in 2012! 7/12 GMT 14.30 Oil USA - Statistics from the EIA - API Crude + 1.3 (API - 5.0 mmbls) Gasoline + 5.1 (API - 0.65 mmbls) Distillates + 2.5 (API + 1.7 mmbls) Total Petroleum Inventories + 9.5 mmbls Refiners 87.7% Crude Import 9.4 mmbopd Gasoline Import 0.8 mmbopd 6/12 GMT 04.05 Central Banks - Australia RBA Yet another cut to 4.25%.. The RBA simply acknowledges the fact that the EU is screwing up the world economy... Thank´s Germany/France who after all are the co-presidents of Europe. Weird Eurodemocracy!? 29/11 GMT 09.30 EnQuest PLC - ENQ:SAX - ENQ:LSE - Live Webcast 29/11 GMT 09.01 EnQuest PLC - ENQ:SAX - ENQ:LSE - In the News Nov. 29 (Bloomberg) -- EnQuest Plc, a North Sea oil company, promised production growth of 20 percent a year after finding crude at its Crathes well and deciding to develop the Alma and Galia fields. The shares gained. Output will rise to more than 40,000 barrels a day by 2014 from as much as 24,000 barrels next year, the company said in a statement in London today. The Crathes exploration well, which the company operates with a 40 percent stake, encountered a 52- foot column of light oil. Wintershall AG owns 50 percent of the well and Ithaca Energy Inc. has 10 percent. EnQuest is bolstering output both by making new discoveries and extracting more from older fields. The Alma and Galia development, which will increase the company’s reserves by 29 million barrels of oil equivalent at a cost of $850 million, includes the U.K.’s first oil field, which started production in the 1970s. “The Alma and Galia development shows the continuing growth of EnQuest and the breadth and depth of its capabilities,” Chief Executive Officer Amjad Bseisu said in a statement. “With current technology field life can be extended significantly. This type of opportunity fits the EnQuest model of finding fresh opportunities in mature assets.” EnQuest rose as much as 13 percent to 102.8 pence in London, the most since the company was spun off from Petrofac Plc and Lundin Petroleum AB in April 2010. Shares traded at 100.4 pence as of 9:56 a.m. local time. Funding, Acquisitions The company can fund the Alma and Galia project from existing cash and cash flows, Chief Financial Officer Jonathan Swinney said in a telephone interview. The company has money to pursue further acquisitions, he said. EnQuest also said today that it will acquire a 40 percent interest in Talisman Energy Inc.’s Kildrummy field, which may contain 40 million barrels of reserves. The company’s stock has declined about 28 percent this year. On Sept. 5 it trimmed 2011 production guidance to 23,000 to 24,500 barrels a day from a previous estimate of 26,500 barrels because of lower-than-expected output at two wells near the Shetland Islands. 29/11 GMT 08.22 EnQuest PLC - ENQ:SAX - ENQ:LSE - Strikes Oil EnQuest has struck a sizeable column of light oil at an exploration well it operates in the North Sea. The company has found a 52-foot column in “excellent quality reservoir sands” at the Crathes well, also known as 21/13a-5. The drill is primarily targeting the Crathes prospect in the Palaeocene section with a secondary target being the Moon prospect in the deeper Upper Jurassic section. The company has a 40% stake in the play with Germany’s Wintershall holding 50% and Ithaca Energy 10%. 28/11 GMT 21.10 The Markets - Headline News A Rally!! And then what..? The Markets are driven by Headline News and any little scrap of hope out of the mess that is Europe.. OK given that there is the odd good news from the US aswell but enough to warrent the euphoria.. So buy take a winning and then get out, and don´t sitt with a trade overnight! The Euro will collapse and as stated before, it will come when you least expect it or are on the wrong side of a position. So unless you really know what you are doing, don´t. 25/11 GMT 12.07 Iceland - A Guiding Light Going into the Financial crisis, Iceland was an execellent "early indicator" to how thing´s were going to develop.. Now with the country coming out at the other side it is yet again a guiding light.. The country is being upgraded and fairing better and better and it has done it all on it´s own.. No Euro or participation in the EU, as many wanted the country to do.. Imagine if they had joined that moronic project? Take heed the only way out of the Euro/EU Crisis is for Europe to return to individual currencies and national agendas. Earlier postings, 2008/7/10 GMT 03.44 USA - The Bailout Bill a $700 Billion Dollar Exercise in Futility I wrote, 2008/3/4 GMT 01.55 Iceland - A study in Desperation The Icelandic State has a Secret Plan to Bag the Big Bad Bear... No it´s not Monty Python it´s for real... Apparently Iceland is going to beat the market place and "put them thar bad hedge funds in their place.." Face it you are fair game... And no you can´t beat the market!! Especially as the Icelandic economy has since two years been a very good testbed for the global problems ahead... As stated before this Crisis has not dropped down from a Sunny Summer Sky as it would seem when you hear one politician after another trying to put the whatever back into the bottle... Let the market take care of the market! The decision to put a moratorium on Short Selling is one of the most moronic to date. The Short Sellers be it Hedge Funds or singel entities or whom ever actually called this market exactly right. Let the market take care of the market! 2007/1/4 GMT 00.22 Iceland - A study in Crisis Icelands financial problems started just about 2 years ago and has long been a preamble to what has been coming for more than some time.. Much like the Bank of England in the early 90´s the Icelandic Central Bank is crying foul because the big bad market place is clawing at the door. Well this has been long in the offering and no country is an Island when the market place smells weakness.. 25/11 GMT 10.15 EU - Euro - The End is Near.. This site has warned against the EU and Euro for many years and it is now more and more apparent that the last day´s of the Euro are nigh.. Considering all the facts the prediction is that th Euro collapses within 3 to 6 months, if not sooner.. There is simply is no other "real" alternative. 22/11 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API - 5.6 mmbls) Gasoline (API + 5.4 mmbls) Distillates (API - 0.9 mmbls) Refiners 83.0% 22/11 GMT 15.40 EnQuest PLC - ENQ:SAX - ENQ:LSE EnQuest well placed to harvest North Sea potential.. The share price of North Sea oil group EnQuest has been on the slide this year yet the valuation does not appear to reflect the company's growth prospects. The company is extremely cash generative through its producing assets and its current plans could see oil production rise by as much as 50% by 2015. In fact, some analysts have worked out that the company's cash generation is so strong that 70% of its market cap could be net cash by the end of 2013. At the interim stage, EnQuest had a net cash position of $265.7m (£166m) compared with its market capitalisation of about £840m. The company's six producing fields are Broom, Heather, Thistle, Deveron, West Don and Don Southwest. The first half of the current year saw the company increase its stake in Broom to 63% from 55%, and it acquired a 40% interest in the Crathes and Moon prospects. The company is likely to act as a further consolidator in the North Sea, building on its hubs in the area. There is a strong likelihood of an increase in reserves at its Thistle and Heather fields, and approval of the company's Alma and Galia fields is expected soon. Field development plans were submitted to the Department of Energy and Climate Change in September. There was a slight setback in September, when the group revealed that two wells were performing worse than expected. This meant that it had to lower full-year production guidance to 23,000 to 24,000 boepd from its previous guidance of 26,500 boepd. However, EnQuest also noted that peak production from Alma and Galia could be in excess of 20,000 boepd, with production expected to start in the first half of 2013. It is not only acquisitions and new approvals that will drive increased production. The company has considerable technical expertise which it can use to boost recovery rates – or the amount of oil that it is possible to extract from each field. This is not easy, but it is achievable. The group aims to take advantage of the potential of smaller and late-life oil fields which are not material for the industry majors. Although production in the North Sea has been falling, EnQuest estimates there is still a significant amount of oil left in situ that can be recovered with its specialist technical expertise, should it be granted licences to do so. Recovering the last bit of oil from the North Sea is strategically important for the UK from an energy security point of view. This took a hit last year, when the Government imposed a heavier tax rate of 62% to 80% on North Sea oil and gas production in the Budget to fund fuel-price cuts for motorists. However, there was some relief earlier this year as the Treasury said it would increase tax relief on losses. If the UK Government is serious about energy security – which it needs to be – then there could be other new incentives to encourage exploration in the region. The shares are trading on a December 2011 earnings multiple of 18.7, falling to 11.7. They are a buy for their cash generation, rising output and likely future increases in proven and probable resources. 16/11 GMT 14.30 Oil USA - Statistics from the EIA - API Crude - 1.1 (API + 1.3 mmbls) Gasoline + 1.0 (API - 2.9 mmbls) Distillates - 2.1 (API - 2.6 mmbls) Total Petroleum Inventories - 8.7 mmbls Refiners 84.8% Crude Import 8.6 mmbopd Gasoline Import 0.76 mmbopd Total product demand is down - 0.4% y-o-y, with Gasoline demand down by - 5.4%.. 16/11 GMT 09.01 EnQuest PLC - ENQ:SAX - ENQ:LSE ENQUEST PLC, 16 November 2011 Interim Management Statement HIGHLIGHTS Production to the end of October averaged 23,944 Boepd, up 20% on the 19,876 Boepd for the equivalent 2010 period; EnQuest confirms it is on track to deliver its latest guidance for full year average 2011 production of between 23,000 Boepd and 24,500 Boepd · The Thistle well A57/58 was completed and is producing over 1,500 Boepd, in line with expectations · Operations have started on Dev-P1, the first well in the Deveron field for over 20 years · Production from the recently drilled S8z and S9 producer injector pair on Don Southwest has stabilised at approximately 5,000 Boepd · The Ivy exploration well was a dry hole · The Crathes exploration well spudded in early November, drilling is ongoing · The exploration well on the non-operated Tudor Rose discovery spuds this week · EnQuest's sanction of the Alma/Galia development is expected before the end of 2011 Amjad Bseisu, Chief Executive, said "I am pleased to report that EnQuest continues its growth with a 20% year on year production increase to the end of October 2011, all three of our hubs achieved strong production growth over the same period in 2010. EnQuest is now concluding its active ten well drilling programme for 2011, five new production wells have been brought onstream during the year, one on Don Southwest, one on Conrie and three on Thistle. In 2011, EnQuest has further consolidated its positions, with increased interests in the Broom field and the Crawford block helping to drive strong growth in our net reserves. EnQuest continues to be active in assessing potential business development opportunities. We remain on track to achieve our revised full year production target, delivering mid-range growth of 13% over 2010. Our project execution team is also on track to deliver EnQuest's sanction of the Alma and Galia development before the end of this year." Net Production Reported Pro-forma* Reported Cumulative Pro-forma* Daily Average Daily Average Cumulative 1 Jan' 2011 to 1 Jan' 2010 to 1 Jan' 2011 to 1 Jan' 2010 to 31 Oct' 2011 31 Oct' 2010 31 Oct' 2011 31 Oct' 2010 Net production (Boepd) Net production (Boepd) Net production (Bbls) Net production (Bbls) Thistle/Deveron 5,246 4,737 1,594,868 1,440,117 Dons/Conrie 13,145 10,612 3,996,200 3,225,916 Heather/Broom 5,553 4,527 1,688,208 1,376,188 Total 23,944 19,876 7,279,276 6,042,221 * `Pro-forma' data reflects the production results for the relevant calendar months of 2010, as if the assets previously owned by Petrofac Limited and Lundin Petroleum AB were owned by EnQuest throughout the period - as they have been in 2011 and as they will be reported for 2011. For further details see `Pro-forma note' in EnQuest's 2010 Full Year Results. Additional Information · The latest Thistle well A57/58, formerly known as EFB-P1, was completed in the eastern fault block of the Thistle field in the middle of October. The well is producing in excess of 1,500 Boepd. To date all three new Thistle wells have met or exceeded expectations · The Thistle power project is underway and a new 30 MW gas turbine will be operational in Q4'12. This follows lower than anticipated power availability in 2011 · On Deveron, operations have started on the first well to be drilled in over 20 years. The well will be completed with electrical submersible pumps · Former production well A16/26 has been worked over to provide injection support in the south of the main fault block in the Thistle field. Drilling has been completed and the well should be commissioned in Q4'11 · Don Southwest. Production from the recently drilled producer injector pair (S8z and S9) has now stabilised at approximately 5,000 Boepd. There is no need to sidetrack these wells at the current time · An exploration well was drilled on the Ivy prospect but was unsuccessful. The well was drilled within the targeted time and the reservoir encountered was as prognosed, but no porosity or permeability was present · Offshore work continued on upgrading the Heather drilling rig, to be ready for drilling to start in 2012 · EnQuest's realised sales oil price to the end of October was $107.5 per Boe, reflecting the combined effect of the oil price and of the 2011 hedge position; the invoiced oil price to the end of October was $112.1 per Boe. Broker appointment EnQuest is also pleased to announce today the appointment of Merrill Lynch International as joint corporate broker, with immediate effect. 13/11 GMT 17.11 EU - Greece - Italy - Rearranging Deck Chairs on the Titanic Two new Technocrat Leaderships, albeit in the "anything better than" departement.. But seriously there is little they can do but to try to follow German Marching Orders. And in the case of broad coalitions forget it, this is Greece and Italy we are working with here, especially Italy where Berlusconi will hang around like a grey ghost, still leader of his party.. This site expects any up-tick due to the changes to be short lived, the fundamentals have not changed one bit. Given that the technocrats now have to walk the fine line between Austerity and Growth, a mihgty task indeed in light of the fact they have to work with a failed single currency that is the root of all evil in Europe. 11/11 GMT 11.11 Remembrance Day - Armistice Day - Lest We Forget In Flanders fields the poppies blow Between the crosses, row on row, That mark our place; and in the sky The larks, still bravely singing, fly Scarce heard amid the guns below. We are the Dead. Short days ago We lived, felt dawn, saw sunset glow, Loved and were loved, and now we lie, In Flanders fields. Take up our quarrel with the foe: To you from failing hands we throw The torch; be yours to hold it high. If ye break faith with us who die We shall not sleep, though poppies grow In Flanders fields. 9/11 GMT 17.18 EU - Germany - German exporters can do without the Euro German exporters can do without the euro: Industry Federation The head of country's Industry Federation says they 'do not necessarily need' a common currency to achieve success.. German exporters, the backbone of the biggest eurozone economy, could manage without the common currency, the head of their BGA industry federation, Anton Boerner, said on Wednesday. "What is important for us is the free market, we do not necessarily need a common currency," he told the foreign press association in Berlin. "Is there life for Germany after the euro? Yes there is." Exporters "can live without the euro," he added. Boerner was speaking one day after official data showed that record exports had pushed Germany's trade surplus to a three-year high in September, indicating the country was bearing up fairly well in the eurozone debt crisis. Germany, the world's number two exporter after China, exported goods worth a total 91.3 billion euros ($124.9 billion) in September, 0.9 percent more than in August and the highest level since unification, according to seasonally adjusted figures. The BGA represents Germany's exporters, mainly small and medium-sized firms. Boerner said that for those companies, "the amount exported to eurozone countries does not depend on the euro itself but on the free market, and the absence of customs duties". Boerner's remarks stood in stark contrast to the line taken by German Chancellor Angela Merkel and other political leaders, who argue that "everything must be done" to protect the eurozone from falling apart. Consultancy group McKinsey said in a recent study that two-thirds of the economic growth in Germany in the last decade could be put down to the introduction of the euro. 9/11 GMT 17.14 EU - Thought´s from Germany It's in Greece's Interest to Reintroduce the Drachma... Is reintroducing the drachma the only way for Greece to save itself? Economist Hans-Werner Sinn is the president of the Institute for Economic Research (ifo), a leading German think tank in Munich. He spoke to SPIEGEL about the euro crisis, the growing uselessness of a bailout and a possible way back to the drachma for Greece. SPIEGEL: Mr. Sinn, the Greeks have decided not to hold their referendum. They want to keep the euro and allow themselves to be rescued by Europe. Can we all breathe a sigh of relief? Sinn: What politicians refer to as a "rescue" will not actually save Greece. The Greeks won't ever return to health under the euro. The country just isn't competitive. Wages and prices are far too high, and the bailout plan will only freeze this situation in place. So it's in Greece's interest to leave the euro and reintroduce the drachma. SPIEGEL: How would that work? Sinn: It must happen quickly. Greek banks will have to close for one week. All accounts, all balances and all government debt would have to be converted into drachmas. Then the drachma would depreciate. SPIEGEL: In that case, Greek citizens would try to empty all their bank accounts as quickly as possible. There would be chaos. Sinn: One would have to manage. Granted, there will be a localized storm; but, afterward, the sun will shine. Wealthy Greeks transferred their assets to safe havens abroad long ago. The money will come back to Greece only once Greece has re-established its competitiveness. SPIEGEL: What sort of exchange rate do you envision between the euro and the drachma? Sinn: If Greece depreciates (its currency) by around 44 percent, the nation will be about as expensive as Turkey. Then Greek products will start selling again, and tourists will start returning. SPIEGEL: The money foreign banks and governments have already loaned to Greece would be gone. Are those losses bearable? Sinn: Creditors would lose about half of their investments, but they've already accepted such losses (with the recent decision to give Greece a debt "haircut"). It wouldn't be more than that. SPIEGEL: What about European governments? What sort of losses would they face? Sinn: Economically, they would actually see some benefits. Creditor nations would have to contribute less (to a rescue) because Greece would be helping itself. It would be considerably less expensive for them -- and also for the other euro-zone countries that have lived beyond their means -- to face up to the seriousness of the situation and finally try to save themselves. SPIEGEL: Do you seriously think the Greeks will manage to repay their debts, which are denominated in euros, with a weakened national currency? Sinn: They will only be able to generate foreign trade surpluses if they abandon the euro. And only then will they be able to pay anything back. Otherwise, they will forever remain dependent on others. SPIEGEL: If Greece abandoned the euro, who would follow? Sinn: Portugal is at risk. Italy will be able to manage if it not only announces reforms, but also implements them. Interview conducted by Alexander Neubacher 9/11 GMT 15.00 Oil USA - Statistics from the EIA - API Crude - 1.4 (API + 0.15 mmbls) Gasoline - 2.1 (API - 1.5 mmbls) Distillates - 6.0 (API - 2.9 mmbls) Total Petroleum Inventories - 15.3 mmbls Refiners 82.6% Crude Import 8.6 mmbopd Gasoline Import 0.75 mmbopd Total Petroleum Inventories - 15.3 mmbls is a good chunk out of storage, yet look at the demand numbers and the lower storage stats make some sense... 8/11 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API + 0.150 mmbls) Gasoline (API - 1.5 mmbls) Distillates (API - 2.9 mmbls) US retail Gasoline Demand last week declined - 3.6% year-on-year. Prices at the pump are still 22% above last year. 7/11 GMT 01.58 China - Power Output - September The countries Power Output increased 11.5% from a year earlier to 386.1 billion kilowatt hours in September, this then compared to output in August which rose 10% on year to 426 billion kilowatt hours. September was lower than the three preceding months which were mainly driven by warmer than normal weather.. The simple fact is that China is slowing down, due in part to government aims but mainly due to the global picture.. 7/11 GMT 01.02 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - 22nd licensing round Norwegian shelf In the 21st round the company was with two new partners awarded licens, 609 –7220/6,9,11,12 (part), 7221/4 (part) Lundin(O)40% Idemitsu 30% RWE-Dea 30% It´s not a long shot to think the company is on the short list for the 22nd round, due 11/1/12.. 6/11 GMT 21.39 EU - EFSF Forget Greece, Italy, Spain and the other 17 Euro nations.. The 500 lb Gorilla in the room is the EFSF to which no one on the planet want´s to contribute. Ask yourself - "would I put money into this fund, expecting a return?".. This site would not, and as it seem´s so will none else either.. The market is out for blood and next in line could be Italy or France, Spain.. spin the wheel and take your pick! The date for the fall of the Euro is coming ever closer down the tracks at high speed.. Thankfully! 3/11 GMT 23.19 EnQuest PLC - ENQ:SAX - ENQ:LSE Very tradable and one of the few stocks that has held it´s own through the EU Mess, much like it´s parent Lundin Petroleum the stock is valued way wrong to the downside.. The company is percieved as being stuck deep in mature North Sea fields, the truth is far different.. By all right´s the stock should be trading in the 15 - 18 SEK range and it´s this undervaluation that in some part hedges trades at a lower price.. 1/11 GMT 20.37 EU - Greece - Referendum - Democracy, remember that concept? You have to love European politicians, give them five day´s and they can make a total "Pigs Breakfast" of pretty much anything.. The one positiv factor in this mess is the Greek Referendum where hopefully the Greeks will be able to through Democratic means have their say! Again hopefully they will say No and the EU goes down the road to oblivion.. Yet you have to have serious doubt about the referendum actually being fair, open and democratic as far too many EU politicians have a vested selfinterest in the EU plodding on.. Yet again maybe just maybe Greece the home of democracy can surpise and do the right thing.. 1/11 GMT 04.10 Central Banks - Australia RBA As expected the bank lowers it´s rate buy 25 points to 4.5%, more to come... 27/10 GMT 11.30 EU - A sorry Bandaid OK so that´s Debt taken care of for the moment, or.. 50% writedown is that net asset value or? Now where is the Growth going to come from?.. This deal? changes nothing of what´s really wrong with the EU, it´s just more European Fluff!! Seriously anyone who percieves this to be more than just more of the same "kicking the can down the road" need´s help... Markets rally on the basis of this crap?.. please.... 27/10 GMT 01.14 EnQuest PLC - ENQ:SAX - ENQ:LSE Merrill Lynch has net-bought this stock on SAX for a long time... 26/10 GMT 21.29 Lundin Petroleum LUPE:SAX - LUP:TSX The French Institute of Petroleum has made the claim, according to Norweigan media that Alvadsnes/Aldous could contain as much as 7 Billion barrels of oil. Making it one of the largest singel finds in the world.. A mighty claim yet the French Institute of Petroleum IFP is not a bunch of French guy´s sitting around testing the grape of the day but rather an institution of some merit, with a school of engineering but also as a player in the oil industry through it´s development of oil assessment in sedimentary rocks, with techniques used by many companies in the industry.. See Rock Eval Pyrolysis.. 22/10 GMT 02.56 Lundin Petroleum LUPE:SAX - LUP:TSX In the "how long is a string" guessing game ie a target price for the stock I understand the current leader put´s it at 180 SEK.. That´s a fair number for sure.. Mr Ian Lundin had a thought that 200 SEK was the next big target to go for, he probably is conservativly right in that assessment. Given that there are a lot of things that yet have to become clear regarding Norway, which at the present time accounts for about 70% of the companies assets one has to consider the variables.. Yet as an investor in this groups activities ranging back some 25 years and more, my assessment of a target price for the stock short term is based on the companies ability to "cut a good deal", and it´s here the real gold wallows.. Also have a look at Statoil´s projections for the combined Avaldsnes/Aldous field.. So this sites target price short term all things considered is 220 SEK, before the end of the year... 21/10 GMT 09.39 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Avaldsnes/Aldous field When the dust settles and all of the numbers are in.. We are going to find that the combined Avaldsnes/Aldous field is the biggest ever discovered in Norway.. This site did state that the finds were larger than expected.. Statoil, who it has been agreed on will be the operator for the combined field belives production could be up and running as soon as 2017 with a "considerable" daily output.. The life span of the field is deemed to be 30 to 50 years.. 18/10 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API - 3.1 mmbls) Gasoline (API - 1.6 mmbls) Distillates (API - 2.2 mmbls) 16/10 GMT 20.43 EU - G20 So many meetings so much talk so little action, and now the world expects the EU to come up with a master plan in three day´s... Get real folk´s and get ready for one huge stock market fall!!... 16/10 GMT 04.00 New Zealand - The Rugby Union World Cup - Update Australia - New Zealand in the Semifinals... The Wallabies to Win, ofcourse!!!... Congratulations go out to the Kiwis... Just beat the French silly!! 14/10 GMT 22.25 EnQuest PLC - ENQ:SAX - ENQ:LSE Prime Minister Cameron speaking at a ceremony regarding BP´s new project West of the Shetland Islands said the following concerning the new taxes imposed on the North Sea Oil and Gas Industry, "Mr Cameron claimed that by helping to avoid increases in fuel duty proposed by the last Labour Government, the tax rise had allowed the Government to provide benefits for all. He insisted ministers had done this without damaging the oil and gas industry. “As we see today, investment is going ahead,” the PM said. He added: “There’s a balance to be struck between how much tax the Government should take and how much is necessary to encourage investment in the North Sea, and I think the balance is appropriate.”However, Mr Cameron signalled that ministers could make further tweaks to the fiscal regime in the North Sea. He said: “I think it’s important for jobs and investment in the North Sea that we try and make sure we look at all potential ways of getting marginal fields onstream and recovering more oil from fields that are onstream.”" An opening play in perhaps pulling back some on the tax scheme.. This site belives that the government stretched too far and will have to retreat, in a politically correct way ofcourse.. 14/10 GMT 02.05 The Markets Nice uptick in the stockmarket, yet little has changed since the last week, month.. etc. The fact is we are living on borrowed time, none more so than the EU.. "Just kicking the can down the road".. Just don´t buy the hype because the big dipper is just around the corner. 13/10 GMT 23.41 EU - Spain - Downgrade Standard & Poor's said late Thursday that it has lowered its long-term rating on Spain's sovereign credit to AA- from AA. The firm said that the outlook for Spain is negative. "Despite signs of resilience in economic performance during 2011, we see heightened risks to Spain's growth prospects due to high unemployment, tighter financial conditions, the still-high level of private sector debt, and the likely economic slowdown in Spain's main trading partners". 13/10 GMT 21.37 China - Crude Import Crude imports again below 5.0 mmbopd.. Four months of falling or low imports is down to one lone factor, demand is falling.. Because China is slowing down as this site has pointed out for a long time.. Look at the Power Output stats which are a very good early indicator, especially if you pick trough the overall picture. Trade numbers.. Also Q3 GDP growth will probably come in at 9.1% down from Q2´s 9.5%... 13/10 GMT 15.00 Oil USA - Statistics from the EIA - API Crude + 1.3 (API - 3.8 mmbls) Gasoline - 4.1 (API - 1.2 mmbls) Distillates - 2.9 (API - 3.1 mmbls) Total Petroleum Inventories - 1.4 mmbls Refiners 84.2% Crude Import 9.1 mmbopd Gasoline Import 0.4 mmbopd Low import numbers for Gasoline.. 13/10 GMT 00.55 Australian Bauxite Ltd - ABZ:ASX 16.8 Million Tonnes Maiden Binjour Resource: High-Grade Bauxite.. Company resources grow to 84 million tonnes.... • Maiden Resource: 16.8 million tonnes of gibbsite-rich bauxite at Binjour, central QLD • Resource is based on 88 infill exploration holes that intersected a thick bauxite layer that is largely concealed beneath a surface clay horizon • Most of the bauxite resources identified in this estimation are a superior quality bauxite suitable for sweetening circuits in refineries. It is termed “Brown Sugar” bauxite • A high grade core totalling 9 million tonnes contains extremely high grade bauxite • Recently identified new bauxite areas at Binjour are currently being drill tested 12/10 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API - 3.8 mmbls) Gasoline (API - 1.2 mmbls) Distillates (API - 3.1 mmbls) Refiners 83.4% -1.5% Gasoline Demand fell again -2.5% compared to last year.. The price of a gallon of gasoline is still 24% higer than last year.. 12/10 GMT 11.48 EnQuest PLC - ENQ:SAX - ENQ:LSE This site belives there is some form of a deal on the way.. 10/10 GMT 20.25 EnQuest PLC - ENQ:SAX - ENQ:LSE The Directors are buying the stock other large shareholders are buying it.. This site has increased it´s position mightily during the loss of confidence in the share.. The reason being that the aim for 2011 was to increase the value of the company by 30%, now this did not go as planned.. So you make new plans and that is what this site is overly convinced of is happening now.. Also the stock price relative the company NAV, net assest value is very, very attractive.. 5/10 GMT 09.03 Heritage Oil - HOIL:LSE - HOC:TSX - Iraq - Miran West-3 Tests show, * Maximum flow rate 1,950 bopd, restricted by surface equipment * Gross in-place P50-P90 contingent volumes of 53-75 MMbbls of oil * Development wells could produce 8,000-10,000 bopd per well * Drilling operations continuing ahead as planned 5/10 GMT 01.52 Falkland Islands - Borders & Southern Petroleum PLC - BOR:AIM The Company´s project in the Falkland Islands comprises five Production Licences with 100% interest in the South Falkland Basin covering an area of nearly 20,000 km2. The Company has acquired 2,862 km2 of 2D seismic and 1,492 km2 of 3D seismic. The company expects to start drilling in mid January, 2012 with the Ocean Rig's Leiv Eiriksson – after a letter of intent for two wells was signed with the Norwegian rig company in November 2010. First Borders and Southern intends to drill the Darwin prospect, with reserves put at between 300 to 760 mmbls, followed by Stebbing, which is estimated to contain 710 to 1,280 mmbls. Both prospects are geologically independent, and lie in the South Falkland Basin. 4/10 GMT 21.45 China - Power Output - August China's power output in August rose 10% on year to 426 billion kilowatt hours. Power generation in the first eight months rose 13% year on year to 3.07 trillion kilowatt hours. This then up from the 2011 Q2 numbers that were down year on year by about 10%.. As stated before the Power Output numbers are a good economic indicator, with some flaws due to climatic conditions ie cooling in summer etc.. 4/10 GMT 20.32 EU - Italy - Government Bond 3 Point Downgrade Italy's Government Bond Ratings are downgraded by Moody's Investors Service to A2 from Aa2, with a negative outlook. 4/10 GMT 20.30 Oil USA - Statistics from the EIA - API Crude (API - 3.1 mmbls) Gasoline (API - 5.0 mmbls) Distillates (API - 2.0 mmbls) US retail Gasoline Demand fell last week from a year earlier as motorists drove less due to economic uncertainty and elevated pump prices. Demand dropped 2.9% year-on-year as a gallon of gasoline went for 28.6% more than a year earlier. 4/10 GMT 14.29 Oil - The Contracts - WTI - Brent WTI is heading for a major support level at $74, this will be broken according to this site. Brent has broken through $100 and here $96 is a minor level of support, again it look´s like being tested.. 4/10 GMT 09.11 Heritage Oil - HOIL:LSE - HOC:TSX - Libya Heritage has bought a 51% controlling interest in Benghazi-based Sahara Oil Services for $19.5m.. "Heritage is well placed to play a significant role in the future oil and gas industry in Libya. This acquisition is consistent with Heritage's first mover strategy of entering regions with vast hydrocarbon wealth where we have a strategic advantage." - CEO Tony Buckingham 3/10 GMT 23.38 Lundin Petroleum LUPE:SAX - LUP:TSX - Norway - Avaldsnes field I note a few things as analysts and speculators try to see into Lupes future, most are wrong or at least are right just at this time.. The target prices set for the stock reach from 130SEK to 170SEK, and that´s nice yet it is far from an adequate reflection of the true value of the company. As far as potential bids on the company or certain fields I don´t see the Management even entertaining an idea of a sale, farm out etc at this time. The company are going to take thing´s nice and slow and give time to assesing the Norweigan situation.. Remember the company has more licenses in the North Sea, and elsewhere for that matter and is in no hurry to part way with these until more is known.. if at all.. 2/10 GMT 17.00 Libya - Oil Export The American company ConocoPhillips has purchased the first barrels of oil in Libya by sending its new oil tanker that loaded 381,000 barrels of crude oil destined for refineries in France and Germany.