Member Info for Moreforus

good timing as we've double bottomed and now have some pretty brilliant news - means fair value for asset in Equitorial Guinea is worth a lot more - we are now trading at a discount to that 1 asset.....

MASTER PLAN But recent developments, including Noble's $1.3 billion development of the Aseng field offshore, have delayed the master plan to early next year by significantly altering the domestic reserves numbers, Lima said. "After all the evaluations we have found reserves are bigger than we thought," he said, declining to speculate on the country's total gas volumes. Equatorial Guinea already produces some 3.7 million tonnes of liquefied natural gas per year from its processing train that started at its Punta Europa terminal in May 2007. And the country has enough domestic gas supply to support the construction and startup of a second LNG export train within five years, Lima said. "The answer to that is yes," Lima said. "I can say with confidence that train two will be running within five years. We will meet that target." At the moment Britain's BG Group is the sole buyer of Equatorial Guinea's liquefied natural gas, though the company irked the government earlier this year by selling shipments to markets outside North America. Lima said the dispute had been resolved and that the company would not be excluded from competing for any new purchase contracts relating to train two. "They would not be excluded," he said. "That doesn't mean they would win it, though." Equatorial Guinea has also been in talks with Gulf of Guinea neighbours Nigeria and Cameroon about the possibility of buying their

GoG News: Eq. Guinea to double gas exports within 5 yrs Wed Oct 28 * Eq. Guinea to start second LNG train within five years * Regional export hub master plan delayed to next year * Dispute with BG Group resolved * Oil production to plateau below 300,000 bpd By Richard Valdmanis DAKAR, Oct. 28 (Reuters) - Equatorial Guinea will double its natural gas exports within five years, though the blueprint it is drafting with partners to do so has been delayed for months, a top energy official told Reuters on Wednesday. "We have the good problem of having more gas in Equatorial Guinea than we thought," Deputy Minister of Mines and Energy Gabriel Obiang Lima said by phone. "We have had to go back and redo all the figures in the master plan." The tiny coastal country, nestled in one of Africa's most energy-rich areas, wants to become the regional hub for gas exports using domestic supply as well as fuel piped in from neighbouring Nigeria and Cameroon. Natural gas, once a landlocked fuel, has become increasingly global as producers invest in infrastructure to freeze it into a shippable commodity for use in the Americas, Europe and Asia, primarily for electricity generation. Germany's E.ON Ruhrgas, Spain's Union Fenosa and Portugal's Galp Energia have been working with Equatorial Guinea's Sonagas to complete a draft plan for the project, initially scheduled for completion by October.

we are 1 third if the way through the trading year where we have given the unforeseen drop in GDP we should be at least at 2.5p if not more..yet again trading well below fair value.

and its also recession proof - its going to take years to get out of the current financial pickle...whatever the bbc tell you about house prices going to the moon..on the back of higher taxes (50%) and lower wages

yopu have to take a 6 month view - we'll get an update in march .. all the contextual data suggests they will outperform the current predicitons of 1 to 1.25 mill profit for y/e june 2010 -> currently seymour pearce have a target of 3.2p ... to me this is a safe non-oiler non-minber that is already making money and is the fastes growing in a growing sector with the best business model. At 2p it's at a forward p/e of 4.84 and i think they will do better than that as we just double dipped...!

look at MACD - looks like red line is about to take control...

trading is done inside the spread i can buy 250k at 2p and 500k at 2.1p and sell at 1.65..so rel market is 1.65-2 i think mms have a small overhang of stock but know they're taking the proverbial vs fundies most interesting chart indicator is the 200 day ma which is moving up nicely and CLEA has bounced off twice ... it looks like its getting ready to move up again.

UK Q3 GDP minus 0.4% vs predicted plus 0.2% this is why i bought CLEA - fastest growing (ie real revenues up 90% YoY and profit) debt management co in the uk market with the best business model and lowest costs. Unemployment is still growing as are insolvencies - next year fiscal tightening public sector wage freeze and rising unemployment. i did my research - found an undervalued co in a growing market that is the market leader - it's predicted to make 1.25 mill gbp profit this year (ending june 2010) and that was with the expected economic recovery. Its currently trading on a p/e of 5 vs this years earnings and i will make money over the next year.

strong close

and a 150k sale but liquidty is increasing

354k at 1.32 on plus certainly looks like we are due a little bounce

bid now 1.35!!!!

..

seems to be he's a proven turnaround specialist....

mms are running out of stock but still too scared to up the bid...

looks like we've bottomed - buyers at this level..expecting to move up if this carries on.

so basically mms bought stock at 1p and now sell at 1.495 - thats a nice return...i can see they are well bid all of the sudden in size at 1.06 LOL this co is trading at a discount to fair value ie current p/e let alone any future potential...it's a steal at this price!

we are now 9.2% on 3 million volume - i'd say it's slightly different today and buyers still arriving

chart looks very oversold we have had our 1st bounce.. there is no reason for the SP to be down here apart from pi's selling - today we have had 800k buys in the last 17 minutes ..