THE NEW BP LOGO..........
THE PIGS BEEN READING THE PAPER AGAIN (YES, PIGS CAN READ).. THE PIG DOES NOT KNOW IF THAT'S A GOOD IDEA OR NOT. THE PIG WONDERS WHATS TO BECOME OF BP AFTER THE SMOKE HAS CLEARED AND THE OIL CLEANED UP. AN ANALYST FAMILIAR WITH THE COMPANY SAYS THEY ARE SITTING ON A HUGE CASH POSITION. THE PIG WONDERS WHAT THE CASH COST OF THE CLEANUP AND LAWSUITS WILL BE. MORE THAN THE PIG HAS ANYHOW.
SOME STOCKS THAT APPEAR TO BE READY TO MOVE OR CONTINUING THEIR MOVES ARE: DEC.V, MTB.V, EAR.V, AND AUX.V, AND ALONG WITH WZR.V ARE MOMENTUM KINGS THE LAST DAY OR TWO. SEEMS TO BE SOME INTEREST PICKING UP IN THE JUNIORS, THAT'S A GREAT SIGN.
SOME GREAT SCANS TONIGHT.ON WITH THE SHOW.....
LGD.V...NO STORY HERE FOR THE PIG, JUST ONE GREAT SCAN. REVERSALS IN EVERY SECTOR AND IN DRAMATIC FASHION. ALL WITH NO NEWS, HIGH VECTOR NUMBERS IN MOVING AVERAGES, NET CAPITAL INFLOW AND VOLUME DISTRIBUTION. THE PIG SAYS LETS SEE IF THE LIQUIDITY PERSISTS........THEN IN WE CAN GO.
APV.T...AS A CHANGE OF PACE, WE PULLED SOME SYMBOLS OFF THE TSE BIG BOARD. ONE OF THE LEADERS IN THOSE SCANS WAS THIS PIGLET. NO STORY, JUST SOME UNUSUAL NUMBERS AND READINGS IN THE MOVING AVERAGE, MOMENTUM AND SENTIMENT AREAS. FURTHER MORE THE MACD IS READY TO MAKE THE GOLDEN CROSS WHICH INDICATES AN UPTREND IS COMING. SOME DECENT VOLUME TODAY. THE PIG SAYS IT MAY WORTH A DIP.
The Hippocratic Oath for Investors: First, Protect Your Money
 | ||||||||||
 | ||||||||||
| By Gary Grimes Fri, 28 May 2010 18:30:00 | ||||||||||
| ||||||||||
| ||||||||||
It's common for Bob Prechter to say something profound. It's less common to be able to perfectly summon his words when you need them in a conversation. That's why it helps to take notes; they're certain to come in handy one day.
Today was such a day for me.
As I read the just-released June 2010 Elliott Wave Financial Forecast, I realized that a sticky note I've had on my computer for more than two years finally earned its keep.
Scribbled on the blue square of paper is a quote from Bob about the perils of market forecasting.
"Missing a market move may be a shame, but getting caught on the wrong side of one means you lose money. People who have gone through the experience know there's a big difference."
The quote gives you some insight into how Bob and other EWI analysts approach market forecasting. Their instinct is akin to a doctor's Hippocratic Oath: First, do no harm.
In other words, keeping your money safe is priority number one. Making your money work for you comes second.
AMERICAS PETROGAS NEW DISCOVERY OF HYDROCARBONS AT VACA MAHUIDA
Americas Petrogas Inc. confirms recent developments on the 253,000-acre (approximately 1,025-square-kilometre) Vaca Mahuida block in Argentina . Americas Petrogas has a 25% interest in the block which is in close proximity to the Company's Medanito Sur project where the Company has made four (4) oil discoveries and started production, as previously announced.
Over the past four months, Americas Petrogas, along with its joint venture partners, has participated in the drilling of five exploration wells, the locations of which were selected by the technical teams of Americas Petrogas and its partners.
All five wells have encountered hydrocarbons in at least one of the Centenario, Loma Montosa, Sierras Blancas, Punta Rosada and Pre-Cuyo Formations. This has validated the Company's geological model through the confirmation of both hydrocarbon migration and trapping in the Vaca Mahuida block. Results to date for these wells are as follows:
The 100% success, so far, on Vaca Mahuida complements Americas Petrogas' earlier finds and successes on Medanito Sur where light sweet crude oil was found in similar formations and which acted as the catalyst for the drilling locations on Vaca Mahuida. Americas Petrogas' technical team had contemplated the possible continuation of the Medanito Sur play concepts into Vaca Mahuida and this recent drilling success is starting to confirm it.
Speaking about these recent developments, Mr. Guimar Vaca Coca, Americas Petrogas Argentina S.A.'s Managing Director, said "These drilling results represent a significant expansion of Americas Petrogas' success in the northeast platform of the Neuquen Basin . These multiple pay zones indicate attractive commercial potential for both oil and gas accumulations."
Mr. Vaca Coca went on to say, "The experience of our technical team in the Neuquen Basin and in the region contributed to these successes and we congratulate all of our personnel for their efforts along with the efforts of our partners' qualified technical personnel."
Source: Stockwatch (Jun 01, 2010 10:21:36 EDT)
BOE Americas Petrogas tests up to 2.2 mmcf/d at Los Griegos
Jun. 1, 2010
AMERICAS PETROGAS NEW DISCOVERY OF HYDROCARBONS AT VACA MAHUIDA
Americas Petrogas Inc. confirms recent developments on the 253,000-acre (approximately 1,025-square-kilometre) Vaca Mahuida block in Argentina . Americas Petrogas has a 25% interest in the block which is in close proximity to the Company's Medanito Sur project where the Company has made four (4) oil discoveries and started production, as previously announced.
Over the past four months, Americas Petrogas, along with its joint venture partners, has participated in the drilling of five exploration wells, the locations of which were selected by the technical teams of Americas Petrogas and its partners.
All five wells have encountered hydrocarbons in at least one of the Centenario, Loma Montosa, Sierras Blancas, Punta Rosada and Pre-Cuyo Formations. This has validated the Company's geological model through the confirmation of both hydrocarbon migration and trapping in the Vaca Mahuida block. Results to date for these wells are as follows:
1. VM.x-2014 well - completed as a natural gas well; tested approximately 1.0 million cubic feet per day (MMcf/d) of dry gas from the Centenario formation. 2. Los Fenicios - LFe.x-1 well - tested 80 barrels of crude oil per day and 1.5 MMcf/d of dry gas from the Centenario - with the Sierras Blancas to be further evaluated at a later date. 3. Los Griegos - LG.x-1 well - tested 1.45 MMcf/d of dry gas from the Centenario; 2.2 MMcf/d of dry gas from the Loma Montosa; and 1.5 MMcf/d of dry gas from the Sierras Blancas. There are two additional wells awaiting evaluation: 4.
Pampas - Pa.x-1 well - to be evaluated by testing after encountering hydrocarbon shows while drilling. 5. Yaganes - YA.x-1 well - nearing total depth with numerous hydrocarbon shows to be evaluated. The full impact of the program and the follow up drilling opportunities will be evaluated and assessed once all testing is completed. Americas Petrogas is optimistic about the possibility of a multi-well follow-up drilling program on certain of these areas and about the possibility of securing higher prices under "Gas Plus" and "Oil Plus" (government incentives) for much of the new hydrocarbons to be produced from the discoveries. The 100% success, so far, on Vaca Mahuida complements Americas Petrogas' earlier finds and successes on Medanito Sur where light sweet crude oil was found in similar formations and which acted as the catalyst for the drilling locations on Vaca Mahuida. Americas Petrogas' technical team had contemplated the possible continuation of the Medanito Sur play concepts into Vaca Mahuida and this recent drilling success is starting to confirm it.
Speaking about these recent developments, Mr. Guimar Vaca Coca, Americas Petrogas Argentina S.A.'s Managing Director, said "These drilling results represent a significant expansion of Americas Petrogas' success in the northeast platform of the Neuquen Basin . These multiple pay zones indicate attractive commercial potential for both oil and gas accumulations."
Mr. Vaca Coca went on to say, "The experience of our technical team in the Neuquen Basin and in the region contributed to these successes and we congratulate all of our personnel for their efforts along with the efforts of our partners' qualified technical personnel."
THE PIGS ENERGY QUOTE OF THE WEEK.....
Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than what they were used to in the last 20 years, Reliance Industries chairman Mukesh Ambani said on May 14th.
"Experts talk of resilient oil growth, sluggish refining growth and higher marginal costs for new discoveries and production. All these factors are no doubt true, but I believe that the petrochemical industry will have to keep reinventing itself in response and prepare itself for a higher energy price than what it has been used to in the last two decades," Ambani said, addressing the 10th Asia Petrochemical Industry Conference here.
"$80-$100 is a norm in this ever changing global dynamics and we have to reset our thinking rather than hoping that oil prices will go back, and energy prices and feedstock prices will go back to what we were used to in the last two decades," he added.
But putting aside the reasons for the potential rise in crude, one of the major concerns for Americans is the ongoing reliance that the Country has on foreign energy. The United States consumed 19.5 million barrels per day (MMbd) of petroleum products during 2008 making that country the world’s largest petroleum consumer. The United States was third in crude oil production at 4.9 MMbd. To highlight the importance of U.S. domestic energy needs, In 2008, the United States produced 10% of the world’s petroleum and consumed 23%. The U.S. was trying to close the reliance gap by increasing offshore drilling, but with the Gulf of Mexico Oil Spill that has turned out to be not only an environmental nightmare, but a political and social problem, as such, the U.S. government is taking a second hard look at offshore drilling and is limiting expansion.
"Experts talk of resilient oil growth, sluggish refining growth and higher marginal costs for new discoveries and production. All these factors are no doubt true, but I believe that the petrochemical industry will have to keep reinventing itself in response and prepare itself for a higher energy price than what it has been used to in the last two decades," Ambani said, addressing the 10th Asia Petrochemical Industry Conference here.
"$80-$100 is a norm in this ever changing global dynamics and we have to reset our thinking rather than hoping that oil prices will go back, and energy prices and feedstock prices will go back to what we were used to in the last two decades," he added.
But putting aside the reasons for the potential rise in crude, one of the major concerns for Americans is the ongoing reliance that the Country has on foreign energy. The United States consumed 19.5 million barrels per day (MMbd) of petroleum products during 2008 making that country the world’s largest petroleum consumer. The United States was third in crude oil production at 4.9 MMbd. To highlight the importance of U.S. domestic energy needs, In 2008, the United States produced 10% of the world’s petroleum and consumed 23%. The U.S. was trying to close the reliance gap by increasing offshore drilling, but with the Gulf of Mexico Oil Spill that has turned out to be not only an environmental nightmare, but a political and social problem, as such, the U.S. government is taking a second hard look at offshore drilling and is limiting expansion.
THE PIGS 'MUST READ' ARTICLE OF THE WEEK......
http://www.scribd.com/doc/32130450/Money-Week-28-May-10-Hugo-Hendry-Interview
No comments:
Post a Comment