Firering Strategic Minerals: From explorer to producer. Watch the video here.
http://online.barrons.com/articles/are-oil-markets-heading-back-to-the-1980s-1428910271
EIA: OPEC’s net oil export revenues declined 11% in 2014 Filed in OPEC on 2 April 2015 Members of the Organization of Petroleum Exporting Countries, excluding Iran, earned $730 billion in net oil export revenues during 2014, according to estimates from the US Energy Information Administration . The total—the lowest earnings for the group since 2010—is an 11% decline from $824 billion in 2013, primarily due to the decline in average annual crude oil prices , and to a lesser extent from decreases in the amount of OPEC net oil exports, EIA says. Saudi Arabia earned the largest share of the earnings—$246 billion in 2014—representing one third of total OPEC oil revenues. Iran’s revenues are excluded from the total because of difficulties associated with estimating that country’s earnings, including its inability to receive payments and possible price discounts offered to existing customers. OPEC net oil export revenues, excluding Iran, could fall further to $380 billion in 2015 as a result of the much lower annual oil […] Click here to view full article at www.ogj.com
From December 2014 operational update Lennox Property, Lea County, New Mexico. The casing repair job on the Lennox 32 State Unit #4H horizontal Bone Spring well (the "32-4H well") is currently being performed, and fracture stimulation is now expected to be rescheduled during the first quarter of 2015. Caza currently has a 50.00% working interest (approximate 38.98% net revenue interest) in the 32-4H well and the Lennox Property. Waiting for poo to improve, could be significant I would say.
Reports of the impending death of Caza are greatly exaggerated, its not a slam dunk but they will survive not least because Apollo loan is not payable till 2017, time is the arbiter as with most things. The world won't want cheap oil for long, burning more carbon because it's cheap isn't going to help co2 emissions targets, cheap oil may do more harm than good not only environmentally but also economically , the balance is what is out of kilter, many market forces at play here which have yet to play out, so once the main players are satisfied politically, market share, supply/ demand ect, then a return to production quotas is in all producers interests, I can't help thinking that geo politics is still a driver for the main players. If Iran talks fail the Saudis and all suni countrys, which by the way are nearly all made up of Opec members will be well chuffed and don't forget that regardless of the outcome these Middle East countries will continue to do what they are best at, namely fighting each other , it won't take much to spook oil markets to the upside. The risk reward equation just got more like a game of blackjack, any way I'm in for 300k. Good luck to all , holders and new gamblers alike.
Apollo loan note added to current assets/ liabilities, this what has changed the accounts, prudent accounting. In an effort to maintain shareholder value in the near term, we continue to scale back G&A costs and capital expenditures associated with non-obligatory wells in our Bone Spring drilling program. Most of our leases are held-by-production, therefore the Company is fortunate to have very few drilling obligations this year. However, cutting capital expenditures for drilling will eventually cause certain covenant violations under the Note Purchase Agreement (the "Apollo Note") with Apollo Investment Corporation ("Apollo"). As a result of this, our auditors have added the $45 million owed by the Company to Apollo to this year's current assets on our balance sheet, even though the Apollo Note is not due for repayment until 2017. This has resulted in a going concern note being included in the Company's 2014 yearend financial statements. As announced previously, the Company has reached agreement with Apollo on the deferral of the determinati
Will go lower first Energy entrepreneur Boone Pickens said Thursday he sees $70-a-barrel oil by year's end, and between $80 and $90 within 12 to 18 months. In an interview on CNBC "Squawk Box," Pickens said U.S. producers are in the process of rebalancing the market—pointing to the decline rig count in response to the continued collapse in crude prices. But Pickens did dial down his longer-range forecast from December, when he predicted on "Squawk Box" $90 to $100 barrel in 12 to 18 months. Last week, oilfield services company Baker Hughes said rigs seeking oil fell to 866.
Your the man !
Oil looks like it could be near capitulation mode, the sooner the better but still maybe 3 / 4 weeks away, which while not good short term will make the rebound more meaningfull.
A herd of wildebeest , one gets gets stung by a hornet, it kicks it's legs up up in the air, then it jumps , starts trotting ,and before you can say ' what's going on have I missed some thing' the whole herd starts to trott then gets into a full scale gallop before they start to wonder why they all were running in the first place. Hope this helps
It’s no JK: Oil spread blow-out portends new price slump Filed in Prices on 3 March 2015 Another sharp dive in oil prices may be nearer than you think, according to traders who see the market flashing warning signs that vital Oklahoma storage tanks will fill up even sooner than expected. While benchmark U.S. crude oil futures still appear to be holding firm after trading at around $50 a barrel for the past month or so, the spread between first- and second-month oil futures collapsed last week, with prompt prices diving by more than $1 to their deepest discount in four years. Shorthanded as “JK” in market jargon, U.S. West Texas Intermediate for April delivery (known as “J”) were $2.38 a barrel cheaper than those for May (“K”) on Friday, a gap that likely signals the early onset of another milestone in the great oil supply glut, running out of space in Cushing, Oklahoma, delivery point for the New York Mercantile Exchange [...] Click here to view full article at www.reuters.com
Libyan oil production has fallen from nearly 900000 bpd to 325000 Bpc in the last 3 months, due to the daft buggers fighting each other, bless them.
The Shia/Sunni war is ongoing, Yemen Syria Iraq , the Russians show no inclination to give up influence in Ukraine , the EU (QE well timed) will have to fund the Ukraine till its reforms are carried out and the economy is turned round,complex geopolitics at play of which oil is a weapon to be used as leveredge to obtain political and economic dominance by the "civilised" world. As for Caza I hope the results in March are good, the SP is worryingly low if one holds to the theory that the Market is always right. Plenty of known unknowns as well as unknown unknowns !
The presentation is long but worth the time, any intellegent comment/views welcome, http://www.angelnexus.com/o/web/70267/?r=1
http://www.bruegel.org/nc/blog/detail/article/1536-the-price-of-oil-in-2015/
T Boone Pickens on CNBC says Brent will be back to $90 to $100 a barrel in 12 to 18 months time.
he persistent slump in oil prices continued to weigh on global markets Monday, hammering the Russian ruble in particular. Brent crude oil dropped more than 3.5% to $67.53 a barrel before picking up to $69.70, as last week's decision by the Organization of the Petroleum Exporting Countries to leave its output target unchanged continued to rattle markets. Compared with the 13% drop in Brent crude last week, and the particularly abrupt slide Friday, oil prices are relatively steady Monday. Still, the Russian ruble, closely linked to oil because energy accounts for a big portion of the country's exports, slumped to a fresh record low of 52.67 to the dollar, nearly 5% weaker on the day. The slide in oil is "reinforcing the loss of investor confidence in the ruble," which has also been beset by concerns over Western sanctions against Russia and the conflict in Ukraine, said Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ.
And encourage you to buy more at this opportunity , if you truly believe http://www.bnn.ca/Video/player.aspx?vid=499931
The lower oil price together with the quantative easing coming shortly from Europe will kick the global economy into a higher gear, more oil required and the geopolitics element will resolve itself, at the end of the day our beloved leaders From either side are pragmatists at heart, their own survival comes high on their list of priorities.
So in for 200k more
http://ifair.eu/think/understanding-the-geopolitical-play-behind-the-fall-in-oil-prices/ This is the reality.