tag:blogger.com,1999:blog-39464794520626528812024-03-07T00:43:14.315-08:00Goombarh's Edge - Findings, Insights & Research for Mining, Oil and Commodity EquitiesThis blog is a journal for my research, findings and Insights. The term “goombah”, comes from Latin “cumbà”, is an older or senior advisor, or quite literally godfather. The term also has gangster connotations, but that is not my intent. I have misspelled it deliberately, adding an “r” to make the sound more my own.The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.comBlogger135125tag:blogger.com,1999:blog-3946479452062652881.post-29662083183852095392012-02-19T20:37:00.000-08:002012-02-19T20:37:09.183-08:00Yergin on Energy<script src="http://player.ooyala.com/player.js?embedCode=ttYWx0Mjqcrvt-pciMC7hocjJUnYMj3d&height=360&deepLinkEmbedCode=ttYWx0Mjqcrvt-pciMC7hocjJUnYMj3d&width=640"></script>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-53956107729586057812012-02-19T06:46:00.000-08:002012-02-19T06:46:11.588-08:00Two talks about rock resources and truthTwo Band-aids talk about rock resources and truth.<br />
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LOL.....<br />
Marco G.<br />
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<iframe width="853" height="480" src="http://www.youtube.com/embed/Z7_yhnmkJ5c?rel=0" frameborder="0" allowfullscreen></iframe>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-59039956393766540122012-02-17T10:29:00.001-08:002012-02-17T10:29:37.880-08:00Westernzagros Hits Oil at Mil Qasim and shares pull backMe thinks a few traders do not believe in the value here and got out.<br />
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Marco G.<br />
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WesternZagros targets multi-billion barrel oil resources in Kurdistan, starts production<br />
4:30 pm by Richard Badauskas<br />
WesternZagros (CVE:WZR) is a Canadian oil and gas explorer that is successfully exploring and developing crude oil and natural gas resources in the Kurdistan region of Iraq.<br />
Results generated by the drilling of Sarqala-1 in the Garmian Block, and Kurdamir-1 on the Kurdamir Block, indicate that the two Blocks cover multiple prospects that have the potential to develop into giant oil fields that could host over 3.6 billion barrels of oil equivalent (BOE) of independently audited prospective resources.<br />
These excellent results are allowing WesternZagros to transition from being a pure exploration company into an explorer and production company that is producing over 5,000 bbl/d from the Sarqala-1 oil discovery and targeting over 1 billion BOE in the next five months including the Sarqala-1 oil discovery, and drilling of Mil Qasim, and Kurdamir-2.<br />
The Kurdamir and Garmain Blocks cover 2,120 square kilometres, and are among the largest exploration areas that were granted by the Kurdistan Regional Government to any entity.<br />
WesternZagros is the operator and holds a 40% interest in the Garmian Contract Area that covers 1,780 square kilometres; and holds a 40% interest in the Kurdamir Contract Area that covers 340 square kilometres and has Talisman Energy(NYSE:TLM) (TSE:TLM) as operator. The Kurdistan Regional Government retains a 20% working interest in both Blocks.<br />
The Production Sharing Contracts require the operators and partners to carry all development costs and make payment of a 10% royalty from total crude production, with up to 45% of the remaining oil available for cost recovery. The profit on the remaining oil is split between the parties on a sliding scale from 16% to 35%, and is based on a formula that assesses revenue over cost. The PSCs negotiated on the Kurdamir and Garmian Blocks carry among the most favorable terms when compared to other PSCs negotiated with the Kurdish Regional Government.<br />
Sarqala-1 was drilled and completed in the second calendar quarter of 2011 at a total cost of $20 to $25 million, which included casing repair operations, sidetracking and testing operations.<br />
The well was drilled in the middle of the Sarqala structure that extends over a distance of 15 kilometres, and was sited on the flank of an Upper Fars Sandstone reservoir that is located above the crest of deeper Jeribe Dolo-Limestone, Oligocene, Eocene and Cretaceous reservoirs. It was penetrated through the Upper Fars reservoir and crest of the Jeribe and Oligocene reservoir, terminating below a prospective oil formation at 4,357 metres.<br />
A sidetrack was completed through the Jeribe Formation, and tested at over 9,000 bopd that flowed 40°API oil, with no stimulation or water recovered. An independent audit completed by Sproule Associates estimated Gross Unrisked Resources for total mean oil of 24 MMbbls, with gas of 31 MMBOE within Jeribe.<br />
Total mean oil for the Jeribe and Upper Dhiban, along with Oligocene, Eocene, and Cretaceous reservoirs, on a Gross Unrisked Resource basis, was estimated at 296 MMbbls for oil, and at 463 MMBOE with gas.<br />
Sarqala-1 commenced oil production through an extended well testing in mid October and produced 220,000 barrels of oil by the end of the 2011 calendar year. Sarqala-1 was producing at a rate of 4,000 barrels per day in December and is projected to produce at an average rate of 5,000 barrels per day through the first half of calendar 2012. The company is also sourcing and installing permanent facilities to increase production beyond 5,000 barrels a day, and to have a gas conservation solution in place to deal with the natural gas.<br />
Western Zagros is contractually committed to provide 100% of the exploration and development costs on the Garmian Block and Sarqala-1, and is entitled to collect 100% of the current oil revenues, which may total as much as $60 per barrel, or approximately $10 million per month until a third party participant is assigned on the Garmian Block.<br />
Mil Quasim-1 was recently drilled and completed on the crest of the Upper Fars reservoir, located about 3 kilometres from Sarqala-1. The well was completed at a final depth of 2,425 metres and an open hole test conducted in the lowermost part of the wellbore successfully flowed oil to surface with no water. Further testing is underway in the Upper Fars, with final results due for release on completion of testing.<br />
The well is estimated to cost $30 to 35 million, with total mean oil for the Upper Fars reservoir on a Gross Unrisked basis at 106 MMbbls, and with oil equivalent of 121 MMBOE.The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-68298864322488853152012-02-16T11:35:00.000-08:002012-02-16T11:35:46.293-08:00Breakout - Brent Up - Gold Up - Not IMHO<div><object width="576" height="324"><param name="movie" value="http://d.yimg.com/nl/techticker/breakout/player.swf"></param><param name="flashVars" value="browseCarouselUI=show&vid=28331609&"></param><param name="allowfullscreen" value="true"></param><param name="wmode" value="transparent"></param><embed width="576" height="324" allowFullScreen="true" src="http://d.yimg.com/nl/techticker/breakout/player.swf" type="application/x-shockwave-flash" flashvars="browseCarouselUI=show&vid=28331609&"></embed></object></div><br />
Louise Yamada opines that Brent is moving up and Gold should consolidate before moving up futher.<br />
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IMHO, gold is falling lower before any movements.<br />
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GoombarhThe (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-14673103589018979482012-02-13T09:45:00.000-08:002012-02-13T09:45:15.667-08:00Kurdistan Oil BoomGood Video from Financial Times about Kurdistan Oil:<br />
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<iframe width="853" height="480" src="http://www.youtube.com/embed/l7KmHVvt_NA" frameborder="0" allowfullscreen></iframe><br />
<br />
Looking for an entry with a stock?<br />
<br />
Checkout this blog for ideas.<br />
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The Goombarh is in Westernzagros (TSX:WZR, USOTC:WZGRF)The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-24780404828738472162012-02-13T09:31:00.000-08:002012-02-13T09:33:37.949-08:00Two Oils Moving - Westernzagros in Kurdistan & Petroamerica in Columbia<div dir="ltr" style="text-align: left;" trbidi="on">Hello Readers,<br />
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Dateline: Feb 13, 2012<br />
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Just noticed on my screens this morning, that Westernzagros in Kurdistan, is now moving out of their cup bottoming formation and breaking through the rim resistance. Let the chart following tell the story:<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0mVr3Hb8Inaz6f0Rh7sM4vTuT-gfFq2T8SxoVzq0ukgxGEkueO6Xwim9ldVIW_ItC4-pwLRdbLhyphenhyphenbn1NalU71fRVM6Fj3GpIf5ZEyRdEj45RGXik4QL4H6DNCgkUUZDgnaNzmCvgEO8xD/s1600/WZR+Feb+13+2012.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="366" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0mVr3Hb8Inaz6f0Rh7sM4vTuT-gfFq2T8SxoVzq0ukgxGEkueO6Xwim9ldVIW_ItC4-pwLRdbLhyphenhyphenbn1NalU71fRVM6Fj3GpIf5ZEyRdEj45RGXik4QL4H6DNCgkUUZDgnaNzmCvgEO8xD/s640/WZR+Feb+13+2012.jpg" width="640" /></a></div><br />
Also, Petroamerica in Columbia, is also moving and doing almost exactly the same thing, breaking out of their cup bottoming formation. Again, the following chart tells the story:<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjRxC_4nQ0UbsGDSGTaIPuC8zS3ql-w1Jnt9JMwYrUI_D067frEi7-HQ-RV1It4BvXInMaRO6hOdMRRviZ8CE_5Ci3rKxCyQQvOgPpZq-FifLWtuKbIgBb3G_nrNhKXopM83VT9mjFWeDJ/s1600/PTA+Feb+13+2012.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="366" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjRxC_4nQ0UbsGDSGTaIPuC8zS3ql-w1Jnt9JMwYrUI_D067frEi7-HQ-RV1It4BvXInMaRO6hOdMRRviZ8CE_5Ci3rKxCyQQvOgPpZq-FifLWtuKbIgBb3G_nrNhKXopM83VT9mjFWeDJ/s400/PTA+Feb+13+2012.jpg" width="640" /></a></div><br />
<i>By the way the orange lines in the chart are the Tirone Levels, an indicator similar to Fibraconi lines. Here is an explanation of them:<br />
Definition of 'Tirone Levels'<br />
A series of three sequentially higher horizontal lines used to identify possible areas of support and resistance for the price of an asset. The position of the center line is plotted by calculating the difference between the highest high and the lowest low for the asset price over a period of time and dividing it by 2. The top and bottom line are drawn 1/3 and 2/3 of the difference, respectively, between the same high and low that are used to calculate the center line. </i><br />
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Read more: http://www.investopedia.com/terms/t/tironlevels.asp#ixzz1mHQUoIEl</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-57514776764664042832012-02-12T17:05:00.000-08:002012-02-12T17:05:49.432-08:00Westernzagros CEO Interview<iframe width="853" height="480" src="http://www.youtube.com/embed/qD9W1hpgDH8" frameborder="0" allowfullscreen></iframe><br />
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Since I got these videos on the blog, here's another with CEO Hatfield of Westernzagros.<br />
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The Goombarh holds WesternzagrosThe (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-59106843754934315802012-02-12T16:40:00.001-08:002012-02-12T16:40:51.148-08:00Oil Price going Up<script src="http://player.ooyala.com/player.js?deepLinkEmbedCode=FkMm1lMzpGVWgePo_2p7S0Vry2It7Fx6&embedCode=FkMm1lMzpGVWgePo_2p7S0Vry2It7Fx6&height=360&width=640"></script>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-69245542339264148652012-02-10T14:50:00.000-08:002012-02-10T14:50:11.138-08:00Burnstone Gold Mine GBG - Stoping detail<div dir="ltr" style="text-align: left;" trbidi="on"></div><br />
<iframe width="640" height="480" src="http://www.youtube.com/embed/b3b2SkJfbT4" frameborder="0" allowfullscreen></iframe><br />
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v interesting,<br />
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Marco G.The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com1tag:blogger.com,1999:blog-3946479452062652881.post-84998526130496873492012-02-10T14:42:00.000-08:002012-02-10T14:42:56.809-08:00Potash growth and high margins<div dir="ltr" style="text-align: left;" trbidi="on"> Excerpt of interview regarding Potash:<br />
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<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>TER:</b><span class="Apple-converted-space"> </span>There’s also been some development on the African continent, and a couple of Canadian juniors are working on projects there that are projected to go online in about five years. How are they progressing?</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>JA:</b><span class="Apple-converted-space"> </span><a href="http://www.theenergyreport.com/pub/co/2388" style="color: #365da0; font-weight: normal; text-decoration: none;" target="_blank">Allana Potash Corp. (AAA:TSX; ALLRF:OTCQX)</a><span class="Apple-converted-space"> </span>and<span class="Apple-converted-space"> </span><a href="http://www.theenergyreport.com/pub/co/3519" style="color: #365da0; font-weight: normal; text-decoration: none;" target="_blank">Ethiopian Potash Corp (FED:TSX.V; FED.WT:TSX.V)</a><span class="Apple-converted-space"> </span>are both working to develop greenfield potash projects in the Danakil depression in Northern Ethiopia. Allana is the much better capitalized of the two companies. It has published a large NI 43-101 resource based on its successful drill program over the last couple of years. The projects in Ethiopia are interesting in that the high year-round temperatures in the Danakil may allow for solar evaporation, thereby materially lowering energy costs in the solution-mining process. Ethiopia is also located relatively close to China and India, two important potash consumers.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Ethiopian projects face a major challenge, however, in that the logistics of moving thousands of tons of potash per day from the project site to the port at Djibouti some 600 kilometers (km) away over roads of varying quality may be a significant hurdle. We believe the transportation costs will end up being materially higher than current estimates.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Both Allana and Ethiopian Potash have seen their share prices languish over recent months and are both near 52-week lows. We believe both stocks have room to move up as the projects are derisked and as Allana moves toward a feasibility study in August of this year. While Ethiopian Potash has more leverage to positive developments given its smaller enterprise value, it is a much riskier investment given its very low cash levels. Allana, on the other hand, has more than $65M in cash on its balance sheet, providing it with a lot of time and resources to derisk its project and make it more attractive to potential suitors.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>TER:</b><span class="Apple-converted-space"> </span>Will Allana rely on a rail link to be built in order to get its product to market?</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>JA:</b><span class="Apple-converted-space"> </span>There are plans in Ethiopia to build a rail network in the country, and that rail network is planned to approach Allana’s project site. We’ve met with the minister of transportation in Ethiopia on this topic. That project is probably a number of years away from completion, and for at least the first several years of production, Allana is going to need to find a way to transport its product by road via truck. You can’t assume the rail network is going to be ready in the next few years, in our view.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>TER:</b><span class="Apple-converted-space"> </span>What effect will trucking the material have on the project economics?</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>JA:</b><span class="Apple-converted-space"> </span>Trucking will be much less economic than a rail network. Allana has published its own cost estimates for transporting the product from its project site to the port at Djibouti. We find its estimate of $12/t to be very low. We see a number closer to $50/t, based on the figures we’ve seen at other operations in existence today, such as those in Saskatchewan.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>TER:</b><span class="Apple-converted-space"> </span>Do you have any other interesting stories that our readers might find useful?</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>JA:</b><span class="Apple-converted-space"> </span>The potash industry today is generating very high cash flow and strong returns on capital for incumbent producers. Potash Corp. generated a gross margin in its potash business last year of 68%. Apple Computer, by comparison, posted a gross margin of 41% in its fiscal 2011. The levels of free cash flow generated by this business and the strong secular trends in agriculture are going to attract capital and will ultimately lead to new greenfield production. With so many companies chasing so few quality projects though, we would caution investors to think carefully about the merits of each individual project. The size and grade of the deposit, the infrastructure in place, the proximity to major potash-consuming countries and the geopolitical risk are all critical drivers of value.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">========================</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">rest of this report is at: <a href="http://jutiagroup.com/20120209-whats-next-for-potash-producers-jaret-anderson/">http://jutiagroup.com/20120209-whats-next-for-potash-producers-jaret-anderson/</a></div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><br />
</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Key take aways, are low operating costs and high margins in potash. Also continued growth in markets until decade end.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">The Goombarh is holding Eithiopian Potash (FED on the TSX, ETPHF)</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; font: 12px/12px verdana, sans-serif; letter-spacing: normal; margin: 1em 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Marco G.</div></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-46559973080503683652012-02-10T13:53:00.000-08:002012-02-10T13:53:48.171-08:00Kurdistan & Iraq Oil Agreement with US pressure<div dir="ltr" style="text-align: left;" trbidi="on"><span style="font-size: large;">Kurdistan & Iraq Oil Agreement with US pressure</span><br />
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<h1 class="title" id="page-title" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-clip: initial; background-color: white; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; color: black; font-family: Helvetica, Arial, "Liberation Sans", FreeSans, sans-serif; font-size: 25px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: 1.2em; margin: 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; widows: 2; word-spacing: 0px;">U.S. Energy Influence in Iraq</h1><div class="tabs" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-clip: initial; background-color: white; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; color: black; font: 13px/19px Helvetica, Arial, "Liberation Sans", FreeSans, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; widows: 2; word-spacing: 0px;"></div><div class="title_date_stamp" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-clip: initial; background-color: white; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; color: #222222; font: 13px/19px Helvetica, Arial, "Liberation Sans", FreeSans, sans-serif; letter-spacing: 0.1em; margin: 10px 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; widows: 2; word-spacing: 0px;">February 9, 2012 | 1254 GMT</div><div class="social_bar" style="-webkit-text-size-adjust: auto; 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margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><div class="article_header" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 1.4em; font-weight: bold; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Summary</div><div class="lead_graphic" style="background-clip: initial; background-color: transparent; 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border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><div class="media_rights" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; color: #b3b2ad; font-size: 0.8em; line-height: 1.2em; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">SAFIN HAMED/AFP/Getty Images</div><div class="media_desc" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; color: #222222; font-size: 0.8em; line-height: 1.2em; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Engineers at the Khurmala oil field south of Arbil, Iraq</div></div></div>On Jan. 31, Baghdad withdrew its opposition to a deal between ExxonMobil and the Kurdistan Regional Government, a move that reflects the conflicts between and among Iraq's various political actors. Energy negotiations with the United States are one arena where the al-Maliki government has been forced to make significant concessions recently. Iran typically holds the upper hand when it comes to influencing Baghdad and controlling Iraq's sectarian conflicts, but it cannot compete with the investment capital and technologies that U.S. firms can bring to bear.</div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"> </div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">rest of article here: <a href="http://www.stratfor.com/analysis/us-energy-influence-iraq">http://www.stratfor.com/analysis/us-energy-influence-iraq</a></div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"> </div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">==========================</div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">If this analysis is true, then the fortunes of the oil explorers in Kurdistan has just taken a turn for the better.</div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"> </div><div class="field-item even" property="content:encoded" style="background-clip: initial; background-color: transparent; background-origin: initial; border-bottom-width: 0px; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; font-size: 17px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Marco G.</div></div></div></div></div></div></div></div></div></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-43506035130905671932012-02-09T10:44:00.000-08:002012-02-09T10:44:54.063-08:00Petroamerica (TSX: PTA, OTC: PTAXF) - Breaks Out - Again<div dir="ltr" style="text-align: left;" trbidi="on">Petroamerica (TSX: PTA, OTC: PTAXF) - Breaks Out - Again<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQ9oKetI73pox_D8vEYPLdfBOOfiXEjjAnJEXTodUO4aSFzukZqwB-TOy5bn8zTsXFE8VlSLfMTdxMQ_-5B2vsJGGZQ6V8SZsgQLd44xXUIVMTLOFab4smL7Cwub_zcYmlHoSCUp798cJr/s1600/PTA+Feb+12.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="364" sda="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQ9oKetI73pox_D8vEYPLdfBOOfiXEjjAnJEXTodUO4aSFzukZqwB-TOy5bn8zTsXFE8VlSLfMTdxMQ_-5B2vsJGGZQ6V8SZsgQLd44xXUIVMTLOFab4smL7Cwub_zcYmlHoSCUp798cJr/s640/PTA+Feb+12.jpg" width="640" /></a></div><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGYnzMtnxGhT10XekTOeBtiAGd6vQrVrTil-w5z4mWOvxzajiSd-07bZEuWTBS8ZtmwLLBpSJwj6UZ44cSC0_tggXY-66mznFWqJZrVh6EmUb6Ab1ij26C1qSbUzQUqtnQd0qaoEQPXFE_/s1600/PTA+Nov+27.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" dda="true" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGYnzMtnxGhT10XekTOeBtiAGd6vQrVrTil-w5z4mWOvxzajiSd-07bZEuWTBS8ZtmwLLBpSJwj6UZ44cSC0_tggXY-66mznFWqJZrVh6EmUb6Ab1ij26C1qSbUzQUqtnQd0qaoEQPXFE_/s640/PTA+Nov+27.jpg" width="574" /></a></div><br />
Source: <a href="http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8374484">http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8374484</a><br />
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<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><b>Outlook</b><br />
With Balay-1 and Balay-2 continuing to produce on long-term test the Company is anticipating that it will continue to realize production revenues. Additionally, the Company and partners envisage finalizing the development plan for the Balay discovery, with approval for the first phase expected in the fourth quarter of 2011. Sanctioning of the second development phase will depend on the results of Balay-3 which should enable the joint venture to properly assess the size of the Balay oil discovery.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">The Company plans to evaluate and appraise the Las Maracas discovery in 2012. This will include placing the discovery well on long-term test and the drilling of several appraisal wells. Subject to the outcome of the appraisal results, the Company and current partner are committed to fast tracking the development of this discovery. The Las Maracas discovery is viewed to be an extremely positive event for the Company.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">The Company will continue its strategy of rationalising the portfolio to leverage some of its high working interest positions into more strategic and cost effective holdings. This strategy, which began with the relinquishment of the COR-12 and COR-14 Blocks early in 2011 and has continued with the sale of the VMM-3 block and equity changes in the El Eden block, is expected to enhance the Company's competitive position by allowing it to free up working capital, recover past costs and to enhance the risk/reward balance of its portfolio. The Company is also considering reducing its working interest positions in the LLA10, CPO1 and SSJN5 blocks.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Furthermore, the Company will participate in an extensive exploration program in 2012 with the drilling of seven exploratory wells targeting net mean unrisked prospective resources of 45 million barrels of oil equivalent ("BOE"). All of the prospects to be drilled in 2012 will be covered by 3D seismic, thereby significantly reducing the exploration risk.</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Overall, the 2012 outlook for the Company is expected to be one of rising production and revenues, as the Balay development and Las Maracas appraisal programs get underway, and significant exploration upside exposure by way of a seven well drilling program.</div>====================================================================<br />
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The Goombarh is holding warrants on this one.</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-52681761576627938922012-02-09T09:38:00.000-08:002012-02-09T09:38:08.681-08:00Total moves in Kurdistan for Oil=================================<br />
Total prepares to move into Iraqi Kurdistan-sources<br />
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Thu Feb 9, 2012 11:10am EST<br />
* Total said in serious talks with KRG<br />
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* French major seeking to build on Iraq presence<br />
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* Exxon still silent on its Kurdistan deal<br />
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By Patrick Markey and Peg Mackey<br />
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BAGHDAD, Feb 9 (Reuters) - France's Total is preparing the ground to become the next oil major to move into Iraqi Kurdistan, negotiating over two blocks following Exxon Mobil's deal with the semi-autonomous region last year, Kurdish and industry sources said.<br />
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Any contract between Total and the Kurdistan Regional Government (KRG) risks exacerbating a feud between the Kurds and the Arab-dominated central government, which has already warned that Exxon's deal violates Baghdad's control over oil resources.<br />
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Since Kurdish officials announced the deal with Exxon last year, other majors have watched its outcome as they mull their own possible forays into Kurdistan or opportunities to snatch up smaller players already working there.<br />
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So far Total has signed no agreement, but KRG sources and oil executives say the French company has been in serious negotiations over two blocks, Pulkhana and Taza, which border disputed territories claimed by Baghdad and Arbil.<br />
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"The deal is very close, but Total may want to wait to see how things play out with Exxon," said one oil executive in Arbil who is aware of the talks.<br />
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more at the link: http://www.reuters.com/article/2012/02/09/iraq-total-idUSL5E8D952O20120209<br />
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Marco G.The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-21242128970649882162012-02-08T11:36:00.001-08:002012-02-08T11:49:23.058-08:00Kurdistan Oil<iframe width="853" height="480" src="http://www.youtube.com/embed/iZJjUBrnGEY" frameborder="0" allowfullscreen></iframe><br />
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=====================================================The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-83286340658792779082012-02-08T07:02:00.000-08:002012-02-08T07:03:07.535-08:00France's Total makes move in Kurdistan - Junior Oils to Appreciate<div dir="ltr" style="text-align: left;" trbidi="on"><a href="http://www.iraqenergy.org/news/?detailof=4454&content=Total-Makes-First-Move-Into-Iraqi-Kurdistan">http://www.iraqenergy.org/news/?detailof=4454&content=Total-Makes-First-Move-Into-Iraqi-Kurdistan</a><br />
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excerpt below, for full news click on link above:<br />
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<div class="hm-news" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #1370ab; display: inline; float: left; font: 700 21px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 15px; padding-left: 15px; padding-right: 15px; padding-top: 15px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: 545px; word-spacing: 0px;">Energy News Update</div><div class="hm-news-energy" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline; float: left; font: 700 18px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 15px; padding-left: 15px; padding-right: 15px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: 545px; word-spacing: 0px;">Total Makes First Move Into Iraqi Kurdistan</div><div class="dis-hm-news" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline; float: left; font: 13px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px 0px 15px 15px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; position: relative; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: 545px; word-spacing: 0px;"><div class="dis-b-im-news" style="display: inline; float: left; font-size: 11px; font-weight: 700; margin: 0px; min-height: 210px; padding-bottom: 0px; padding-left: 0px; padding-right: 10px; padding-top: 0px; text-align: center; width: 240px;"><img alt="Total Makes First Move Into Iraqi Kurdistan" src="http://www.iraqenergy.org/images/energy-news/Total%201_92ece.jpg" style="margin: 0px; max-width: 200px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;" title="Total Makes First Move Into Iraqi Kurdistan" /></div><h3 style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">Sources say French major signs deal for four oil blocks.</h3><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;"><br />
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</div><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">France’s Total has signed an agreement with the semi-autonomous Kurdistan Regional Government to develop four oil blocks, two of them previously allocated to foreign operators already active in the province, Kurdish sources said February 4.</div><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;"><br />
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</div><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">The sources told Platts that two of the blocks were previously allocated to ShamAran Petroleum, a Canada-based independent with a focus on Kurdistan, and to Petoil, a Turkish company which has four exploration and production assets in the province.</div><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;"><br />
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</div><div style="margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">The two other blocks are located in Khalikan, in the south central part of Kurdistan, the sources said.</div></div><br />
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Perhaps this is cause for Westernzagros's (WZGRF, TSX:WZR) movement up by over 10% in the last few days!<br />
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Goombarh</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-27275730679063920712012-02-07T08:48:00.000-08:002012-02-07T08:48:19.604-08:00Happy Investment in 2012 - Get In My Email List<div dir="ltr" style="text-align: left;" trbidi="on"><div class="Default" style="margin: 0in 0in 0pt;"><span style="font-family: Garamond;">As another example of what you may expect, if you get in on my email list, here it is, a recent flash:</span></div><div class="Default" style="margin: 0in 0in 0pt;"><span style="font-family: Garamond;">==========================================</span></div><div class="Default" style="margin: 0in 0in 0pt;"><span style="font-family: Garamond;">Goombarh <span style="mso-spacerun: yes;"> </span><span style="font-size: 11.5pt;">Flash 37, </span><span style="mso-spacerun: yes;"> </span>- Feb 6, 2012</span></div><div class="Default" style="margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Garamond;">Good Morning,</span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghbE8eWGor_g-OFsTC72uLfqFdCSp5Z7QxfpGPkQUvrRAYwAlb21AjKOWZgDrUNVbGqJwXriU00QOKdlwy_AK0ApCwUTwwmDegyDyP3Mn72rCFGP-ITOuxNGhyk1LynGP0EMgeSbFFp8Ye/s1600/wzr+Feb+12.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="602" sda="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghbE8eWGor_g-OFsTC72uLfqFdCSp5Z7QxfpGPkQUvrRAYwAlb21AjKOWZgDrUNVbGqJwXriU00QOKdlwy_AK0ApCwUTwwmDegyDyP3Mn72rCFGP-ITOuxNGhyk1LynGP0EMgeSbFFp8Ye/s640/wzr+Feb+12.jpg" width="640" /></a></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="font-family: Garamond;">Westernzagros <span style="mso-spacerun: yes;"> </span>(WZGRF, TSX:WZR)is nearing news about their drilling of their Mil Qasim well in Kurdistan.<span style="mso-spacerun: yes;"> </span>After much accumulation over the past few weeks the stock price broke decisively above the resistance at about 70 cents Cdn this morning.<shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"> <stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype></span><shape id="_x0000_i1025" o:ole="" style="height: 439.5pt; width: 468pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\Bigboss\AppData\Local\Temp\msohtmlclip1\01\clip_image001.emz"><span style="font-family: "Garamond", "serif"; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-CA; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"> <stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape id="_x0000_i1025" o:ole="" style="height: 439.5pt; width: 468pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\Bigboss\AppData\Local\Temp\msohtmlclip1\01\clip_image001.emz"></imagedata></shape></span></imagedata></shape></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: Garamond;">Here are links to their latest corporate presentation and interview of Simon Hatfield CEO.</span></div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: Garamond;">http://www.westernzagros.com/documents/CorporatePresentationJan2012_000.pdf</span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: Garamond;">http://www.proactiveinvestors.co.uk/companies/stocktube/986</span></div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in; mso-add-space: auto;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 12pt;"><span style="font-family: Garamond;">The Goombarh is holding Westernzagros shares and smiling.<span class="apple-style-span"><span style="color: #333333; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"></span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Until next time,</span></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="line-height: 115%; mso-bidi-font-size: 12.0pt;"><span style="font-family: Garamond;">Marco G. </span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><a href="http://goombarhsedge.blogspot.com/"><span style="line-height: 115%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="color: blue; font-family: Garamond;">http://goombarhsedge.blogspot.com/</span></span></a><span class="apple-style-span"><span style="color: #333333; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><a href="http://seekingalpha.com/author/marco-g/articles"><span style="color: blue; font-family: Garamond;">http://seekingalpha.com/author/marco-g/articles</span></a></div></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-62929831785543771352012-02-02T07:20:00.000-08:002012-02-05T15:27:47.756-08:00Happy Investing in 2012<div dir="ltr" style="text-align: left;" trbidi="on">Happy New Year and Investing in 2012!<br />
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As an example of what you may expect, if you get in on my email list, here it is, a recent commentary:<br />
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=======================================================<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;"><span style="line-height: 115%; mso-bidi-font-size: 12.0pt;"><span style="font-family: Garamond;">Goombarh 73 - February 2, 2012</span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Good Morning,</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">It is time to get back to business folks, if you are interested in the stock market.</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Since October, the general markets have recovered significantly.<span style="mso-spacerun: yes;"> </span>The S&P500 is now at 1333, whereas the high was 1370 for last year, the highest since the 2008 crash.<span style="mso-spacerun: yes;"> </span>That is if you were in the general markets, your portfolio should now be close to the highest since 2008, if you are an average investor.<span style="mso-spacerun: yes;"> </span>Here is the headline from Bloomberg this morning:</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><u><span style="color: #e36c0a; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-themecolor: accent6; mso-themeshade: 191;"><span style="font-family: Garamond;">http://www.bloomberg.com/news/2012-02-01/global-strategists-abandoning-bearish-views-after-missing-rally.html</span></span></u></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">This means there is a lot of big money, still on the sidelines that will come into the markets later and assist with driving things upwards.<span style="mso-spacerun: yes;"> </span>Also, this is a presidential election year, and no, the president will not allow the economy to falter during his re-election push.</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">For myself, I invest in the riskier small cap resource stocks, and no I am not back to the highest since 2008.<span style="mso-spacerun: yes;"> </span>The barometer for my portfolio may be the TSXV index which is at 1640 presently, a good distance of 33% off from the peak of 2464 achieved in February 2011, the highest since 2008.<span style="mso-spacerun: yes;"> </span>In fact, I am a good 50% off from my own peak achieved in about March 2011.<span style="mso-spacerun: yes;"> </span>What I hope to have learned from this latest episode of the markets gyrating downwards, is to take a portion of the winnings off the table, when the market is good.<span style="mso-spacerun: yes;"> </span>This is a very important lesson to take to heart.<span style="mso-spacerun: yes;"> </span><b>Preserve the cash, and redeploy later</b>, when the markets are down.</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Now back to business, the markets are moving upwards and the investor needs to be in and positioned to be able to reap the possible future gains.<span style="mso-spacerun: yes;"> </span>Let me refresh myself as to my goals and market positioning guidelines.<span style="mso-spacerun: yes;"> </span>Following are some guiding market thoughts collected over time.</span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><b><span style="color: #333333; mso-bidi-font-size: 12.0pt;"><span style="font-family: Garamond;">Goombarh Strategy 2012</span></span></b></span></div><div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">1.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Know something that will be valued higher in the future.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">shale oil - Bakken, Kurdistan oil (held back with politics)</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">b.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Folded porous carbonate structure allowing high producing level -Shoal Point Energy (SHP, SHPNF) - huge multi-billion barrel oil prospect; oil tests coming in 2012 and running right now.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">2.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Track the trend of a commodity that is moving higher or may have a future shortage.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">oil, and metals; take a look at Zinc</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">b.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">potash - Ethiopian Potash (FED, ETPHF) - shallow open pit capable deposit; 43-101 coming.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">3.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Consider that the general markets are in uptrend before investing.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">S&P now moving upwards.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">4.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Leverage carefully.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Warrants, and such</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">b.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Petroamerica Warrants (PTAWF)</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">5.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Lower priced stocks move higher with easier gains.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">TSXV stocks, explorers and developers with solid management and properties</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">b.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Developers becoming producers - Silvermex (SLX, GGCRF) - producer growing larger, Great Basin Gold (GBG) - solid management and will come on stream with two producing gold mines, Westernzagros (WZR, WZGRF) - Sarquala producing 5000 barrels per day, Mil Qasm test and Kudimir 2 are coming in 2012.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">6.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Consider marginal players, with bad news factored in and a change in outlook.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Marginal stocks have the highest gains in a turnaround. - Petroamerica, (PTA, PTAXF) - turning into producer.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">7.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Consider that market judges on growth prospects rather than absolute value</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-family: Garamond; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;"><span style="font-family: Garamond;">a.</span><span style="font-family: "Times New Roman";"> </span></span></span></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">market is not rational and will move on hype; so consider when to get out!<span style="mso-spacerun: yes;"> </span>Already have getting out in mind, when you are getting in.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 1in; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">As to what is exciting recently, take a look at Shoal Point Energy.<span style="mso-spacerun: yes;"> </span>Here is the chart from yesterday:</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span style="mso-fareast-language: EN-CA; mso-no-proof: yes;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"><stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><img src="http://freechart.globeinvestor.com/servlet/charting?chart_type=png&lang=EN&chart_bg=FFFFFF&chart_style=stock_price_volume&period=6MTHD&listing_id=325942&comp_listing_1=&comp_listing_2=&comp_listing_3=&avg_1=&avg_2=" /></span><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">SHP has broken out and is now at .40 cents.<span style="mso-spacerun: yes;"> </span>Here is a link to their latest corporate presentation:</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><a href="http://shoalpointenergy.com/pdfs/SHPAGM%20Presentation%20Jan%2026,%202012.pdf"><span style="font-family: Garamond;">http://shoalpointenergy.com/pdfs/SHPAGM%20Presentation%20Jan%2026,%202012.pdf</span></a></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span style="font-family: Garamond;">I am sitting on my hands (not selling), and if it is not too optimistic, this stock may be a possible home run.</span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Petroamerica (PTA, PTAXF) may be readying themselves for a big run.<span style="mso-spacerun: yes;"> </span></span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Ethiopian Potash (FED, ETPHF) has crashed lower, possibly on the decline in sentiment about potash pricing and sentiment about Ethiopia as being safe place to invest in, but they are presently drilling and should have a 43-101 within 6 months.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Westernzagros (WZR, WZRFF) is being accumulated by persons unknown and are awaiting news from Mil Qasm and Kudamir 2 (being drilled by Talsiman Energy).<span style="mso-spacerun: yes;"> </span>This is a good longer term stock in my opinion.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Silvermex (SLX, GGCRF) will move with Silver prices higher.<span style="mso-spacerun: yes;"> </span>They have strong management and will be able to deliver on their promises of increased production, but it will take more capital and time.</span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><br />
</div><div class="MsoListParagraphCxSpLast" style="line-height: normal; margin: 0in 0in 0pt; mso-add-space: auto;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Oh, attached is my latest take on Great Basin Gold (GBG, which I have posted on Seeking Alpha.<span style="mso-spacerun: yes;"> </span>This would be my safest longer term play.<span style="mso-spacerun: yes;"> </span>Great management and gold production coming on-line.<span style="mso-spacerun: yes;"> </span></span></span></span></div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><br />
</div><div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;"><span class="apple-style-span"><span style="color: #333333; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">Until next time,</span></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="line-height: 115%; mso-bidi-font-size: 12.0pt;"><span style="font-family: Garamond;">Marco G. </span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><a href="http://goombarhsedge.blogspot.com/"><span style="line-height: 115%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"><span style="font-family: Garamond;">http://goombarhsedge.blogspot.com/</span></span></a><span class="apple-style-span"><span style="color: #333333; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-bidi-font-weight: bold;"></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt;"><a href="http://seekingalpha.com/author/marco-g/articles"><span style="color: blue; font-family: Garamond;">http://seekingalpha.com/author/marco-g/articles</span></a></div><div class="MsoNormal" style="margin: 0in 0in 10pt;"><br />
</div>===============================================<br />
<br />
To be on my email list, send your email address to goombarh at gmail.com. It is that simple, and I will not disclose your address to anyone.</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-1512813059766506482012-01-31T14:16:00.000-08:002012-01-31T14:16:30.538-08:00Shoal Point Energy Breaks Out !<div dir="ltr" style="text-align: left;" trbidi="on">Hello Reader,<br />
<br />
I am using this tidbit to entice more of you to sign up for my email list. It is easy, there are no costs or obligations and only requires an email to me (Goombarh at gmail.com) with your email address. I will not reveal the list to anybody else, and my only purpose is to perhaps share some insights. My aim is entirely selfish for myself, in the hopes that in the future, I may be able to have a small impact on moving stocks with a good pick (well, enough dreaming). Usually, anything I write about, I already have a small position in, and I am hoping that my writings, together with my research and analysis will lead to good outcomes for everyone involved (meaning me and you). Also, I would be interested in your comments and your insights, by email, and I do usually respond to your emails, in due course.<br />
<br />
Now for my sales pictch, I did do good in my last Goombarh Flash to those on my email list. Shoal Point has reached .35 cents today. I issued a Goombarh Flash 35 on Jan 24th when the stock was at .23 cents, an appreciation of about 50%. This is not a really big deal, as smaller stocks like this do have volatility in moves up and down, but FWIW, this might be a beginning of a much higher movement upwards.<br />
<br />
I do not believe the time to sell has come yet, and I see further and stronger price appreciation ahead. I believe the company is sitting on an oil gusher and the market moves are supporting this idea with higher prices for the stock.<br />
<br />
Here is the link to the news release today, announcing coming oil testing:<br />
<br />
<a href="http://cnsx.ca/Storage/1422/129938_January_30,_2012.pdf">http://cnsx.ca/Storage/1422/129938_January_30,_2012.pdf</a><br />
<b><span style="font-family: TimesNewRomanPS-BoldMT;"><div align="left">January 30, 2012 For Immediate Distribution</div><div align="left">CNSX: SHP</div></span><span style="font-family: TimesNewRomanPS-BoldMT; font-size: medium;"><span style="font-family: TimesNewRomanPS-BoldMT; font-size: medium;"><div align="left">Shoal Point Energy and Operator DLMC Receive Regulatory Approval to</div><div align="left">Drill ahead at Shoal Point 3K39</div></span></span><span style="font-family: TimesNewRomanPSMT;"><div align="left">Toronto, ON: Shoal Point Energy Ltd. (the “Company” or “Shoal Point”) (SHP on CNSX)</div><div align="left">announces that Dragon Lance Management Corp. (DLMC), the Operator of the Shoal Point</div><div align="left">3K39 well, has received approval to drill ahead in a new borehole (side track 3K39Z) within the</div><div align="left">Green Point Formation. The current well, 3K39, has been drilled to 1745 metres and cased to</div><div align="left">1711 metres. The new side track borehole, named 3K39Z, will be drilled by setting a whipstock</div><div align="left">at approximately 1585 metres and drilling out of casing and drilling ahead to the base of the</div><div align="left">Green Point Formation.</div><div align="left">As announced previously, the current work will involve a comprehensive testing program, which</div><div align="left">will include one open hole test in the new 3K39Z borehole, and then, up to four tests out of the</div><div align="left">casing in the existing 3K39 borehole, subject to final regulatory approvals of the testing program.</div><div align="left">All tests will occur within the Green Point Formation, and will test the flow potential and</div><div align="left">reservoir characteristics of unstimulated, fractured Green Point shales. The entire program is</div><div align="left">expected to take up to 60 days to complete.</div><div align="left">Shoal Point Energy holds a 100% working interest in the Shoal Point 3K39 cased wellbore as</div>well as 100% of the 3K-39Z sidetracked wellbore.<br />
<br />
Here is the link to the stock chart of Shoal Point Energy:<br />
<a href="http://investdb.theglobeandmail.com/invest/investSQL/cnsx.show_chart?pl_primary_listing=SHP-CN&iaction=Generate&pl_period=12D">http://investdb.theglobeandmail.com/invest/investSQL/cnsx.show_chart?pl_primary_listing=SHP-CN&iaction=Generate&pl_period=12D</a><br />
<br />
<img src="http://freechart.globeinvestor.com/servlet/charting?chart_type=png&lang=EN&chart_bg=FFFFFF&chart_style=stock_price_volume&period=1YRD&listing_id=325942&comp_listing_1=&comp_listing_2=&comp_listing_3=&avg_1=&avg_2=" /><br />
<br />
Good luck and good stock returns for everyone,<br />
<br />
Marco Goombarh</span></b></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com2tag:blogger.com,1999:blog-3946479452062652881.post-29819217034864336032012-01-19T07:18:00.000-08:002012-01-19T07:18:41.183-08:00Obama throws a Wrench into the Bakken<div dir="ltr" style="text-align: left;" trbidi="on"><br />
=============================<br />
<a href="http://news.yahoo.com/obama-set-reject-keystone-oil-pipeline-sources-165859308.html">http://news.yahoo.com/obama-set-reject-keystone-oil-pipeline-sources-165859308.html</a><br />
<br />
<div id="yui_3_3_0_27_1326986053224228">WASHINGTON (Reuters) - The Obama administration on Wednesday rejected <span class="yshortcuts cs4-ndcor" id="lw_1326919447_3">the Keystone crude oil pipeline</span> <span class="yshortcuts cs4-ndcor" id="lw_1326919447_5">project</span>, a decision welcomed by <span class="yshortcuts cs4-visible" id="lw_1326919447_2">environmental groups</span> but blasted by the <span class="yshortcuts cs4-ndcor" id="lw_1326919447_4">domestic energy industry</span>.</div><div id="yui_3_3_0_27_1326986053224219">U.S. <span class="yshortcuts cs4-visible" id="lw_1326919447_0">President Barack Obama</span> said TransCanada's application for the 1,700-mile (2,740-km) pipeline was denied because the <span class="yshortcuts cs4-visible" id="lw_1326919447_1">State Department</span> did not have enough time to complete the review process.</div><div id="yui_3_3_0_27_1326986053224480">"This announcement is not a judgment on the merits of the pipeline, but the arbitrary nature of a deadline that prevented the State Department from gathering the information necessary to approve the project and protect the American people," Obama said in a statement.</div><div id="yui_3_3_0_27_1326986053224483">With environmental groups concerned about carbon emissions from oil sands production, the administration in November delayed a decision on a presidential permit for the project until 2013.</div><div id="yui_3_3_0_27_1326986053224486">But lawmakers that support the project attached a measure to a tax-cut law passed at the end of last year that set a February deadline for a decision.</div>===================================================<br />
<br />
Well, talk about future unknowns for investing, politics does certainly does move in unpredictable ways.<br />
<br />
Canada as a stable supplier of energy requirements, and USA decides to shoot itself in the foot?<br />
<br />
Longer term, the Goombarh thinks this will be sorted out, but presently, this just puts the fire out in the Bakken.<br />
<br />
M. Goombarh</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-10932049608411218072012-01-16T08:27:00.000-08:002012-01-16T08:29:43.796-08:00Genel Buys Longford; Gulf Keystone Invites Bidders<div dir="ltr" style="text-align: left;" trbidi="on">Futher Kurdistan action and news in oil sector:<br />
<br />
In the Genel Longford deal, the market is valuing Longford shares at about .20 to .25 cents Canadian, as Longford has finalized deal.<br />
<br />
Gulf Keystone is offering itself up for bids by selling Kurdish interests for $350-$500 million USD.<br />
<br />
I hold Vast Explorations(TSX:VST, OTC:VSTFF) and Westernzagros (TSX:WZR, OTC:WZGRF). Talsiman has indicated an interest in selling their Kurdistan holdings as well, I believe. Talisman is partnered with Westernzagros. Genel has indicated that Niko's holdings are too expensive; Niko is partnered with Vast.<br />
<br />
Looking for my holdings to move.<br />
<br />
The Goombarh estimates that Vast is worth just as much as Longford if not more. Westernzagros is worth more as it is presently producing, and on the verge of annoucing further drilling news .<br />
<br />
Marco Goombarh<br />
=========================================<br />
<a href="http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8400649">http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8400649</a><br />
<br />
<div class="qmnews_headline" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span class="Apple-converted-space"> </span>Longford Energy Inc. Announces Kurdistan Asset Transfer to Genel Energy plc</div><div class="qmnews_story" id="story" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #444444; font: 14px/18px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div class="mw_release"><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;"><strong>CALGARY, ALBERTA--(Marketwire - Jan. 16, 2012) -</strong><span class="Apple-converted-space"> </span>Longford Energy Inc. (TSX VENTURE:LFD) ("Longford" or "the Company") is pleased to announce that it has entered into a definitive sale and purchase agreement to divest its 40 per cent undivided interest in the Chia Surkh Block in the Kurdistan region of Iraq (the "Transaction") to Genel Energy plc ("Genel") which is already a 20% interest holder in the Chia Surkh Block. As part of the Transaction the Company will receive consideration of USD $68 million, of which USD $42 million cash will be paid to Longford and $26 million will be paid directly to the Kurdistan Regional Government (the "KRG") as settlement for outstanding capacity building bonus payments, and related interest, due under the Chia Surkh Block Production Sharing Contract (the "PSC").</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">The Company acquired a 40% interest in the PSC in 2009. The three year first exploration term of the PSC was set to expire on June 11, 2012. Under the minimum work program obligations, Longford has an outstanding commitment for the drilling of two exploration wells, and a commitment to a minimum expenditure of USD $20 million over the next 5 months, which cannot be realistically fulfilled (financially as well as operationally) in a timely manner. This expected non-performance, and the risk of contract expiration and cancellation, was a key consideration in the Transaction.</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">As a part of government approval for the Transaction, Longford has entered into an assignment and novation agreement with the KRG, Genel and Petoil Petroleum and Petroleum Products International Exploration and Production Inc. amending the terms of the PSC. Pursuant to this amendment, if Longford is unable to secure the requisite shareholder approval for the Transaction by March 1, 2012, Longford has agreed to assign its interest in the Chia Surkh Block back to the KRG without compensation. As consideration for this amendment, the Ministry of Natural Resources of the Kurdistan Region has indicated to Longford that it will support the Transaction when submitted for final approval to the Regional Oil & Gas Council.</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">Mr. Ahmed Said, President & CEO, commented, "At the time of the acquisition of its interest in 2009, the Company expected to spend in excess of USD $100 million over three years on the exploration of the Chia Surkh Block, however due to challenging market conditions Longford was not able to fully capitalize this project to meet the commitments. Given the above circumstances, I believe the Transaction represents a superior alternative for our shareholders".</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">As a part of the proceeds, the Company intends to issue a one-time dividend of CDN $0.10, per share, to shareholders of record after the closing of the Transaction. The remainder of funds is expected to be utilized for other international corporate development and acquisition opportunities. The Company has started a preliminary process of identifying potential assets for acquisition, including potential opportunities in Central and West Africa. The Board of Directors strongly believes that given the current prevailing market dynamics in the junior oil & gas sector, there are exceptional opportunities, in relatively stable jurisdictions, to pursue with the potential of creating significant value for its shareholders. As a part of its restructuring, the Company expects to recruit key management personnel to assist in executing its new strategy.</div></div><div class="mw_release">=================================================================</div><div class="mw_release"><a href="http://www.reuters.com/article/2012/01/16/idUSL6E8CG0BZ20120116">http://www.reuters.com/article/2012/01/16/idUSL6E8CG0BZ20120116</a></div><div class="mw_release"><h1 style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 32px/1.1 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Gulf Keystone sees up to $500 mln from oil stake</h1></div><div class="mw_release"><span class="focusParagraph" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><span id="midArticle_0" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><br />
<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">John Gerstenlauer, Chief Operating Officer told a Morgan Stanley investor conference that a data room on the Akri Bijeel block is to be opened next week, and that he expected 10-12 interested parties to participate.</div><span id="midArticle_1" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><br />
<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">"Gulf Keystone estimates a sale would be finalized by April, with its interest sold for $350-$500m," analysts at the investment bank said.</div><span id="midArticle_2" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><br />
<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Gulf Keystone, which says it has found billions of barrels of oil at its Shaikan discovery, said in September it was seeking a buyer for its 20 percent interest in the Akri-Bijeel block to help<span class="Apple-converted-space"> </span><a href="http://www.reuters.com/finance" style="color: #006e97; cursor: pointer; outline-style: none; text-decoration: none;" title="Full coverage of finance">finance</a><span class="Apple-converted-space"> </span>development of other assets.</div><span id="midArticle_3" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><br />
<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Hungary's MOL operates the Akri Bijeel block.</div><br />
<div style="font-size: 20px; line-height: 1.5; margin: 0px 0px 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Jan 16 (Reuters) - UK-based oil explorer Gulf Keystone told a conference last week it expected to raise $350-$500 million from the sale of its stake in a Kurdish oil block, according to an analyst's note.</div></div></div></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-856411238584094852012-01-10T07:27:00.000-08:002012-01-10T07:27:49.507-08:00Kurdistan Oil Frenzy<div dir="ltr" style="text-align: left;" trbidi="on"><span style="font-size: x-large;"><strong>Kurdistan Oil Frenzy</strong></span><br />
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<a href="http://www.marketwatch.com/story/longford-energy-inc-to-resume-trading-2012-01-09">http://www.marketwatch.com/story/longford-energy-inc-to-resume-trading-2012-01-09</a><br />
<div class="withoutdred" style="float: left;"><div id="columnname"><span class="column">press release</span> </div><div id="lastupdate">Jan. 9, 2012, 1:02 p.m. EST </div><h1>Longford Energy Inc. to Resume Trading</h1></div><div class="clear"></div><div id="mainstory"><div class="pressreleaselogo"><img src="http://i.marketwatch.com/MW5/content/story/images/PR-Logo-Marketwire.gif" /> </div><script type="text/javascript">
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CALGARY, ALBERTA, Jan 09, 2012 (MARKETWIRE via COMTEX) -- Longford Energy Inc. <span class="quotePeekContainer"><span class="quotepeekbase bgQuote down" id="quote1848981514"><a href="http://www.marketwatch.com/investing/stock/LFD?countrycode=CA&link=MW_story_quote"><span class="bgChannel">/quotes/zigman/495542</span> <span class="symbol">CA:LFD</span> <span class="data bgPercentChange symbol">-6.06%</span> </a></span></span>("Longford" or the "Company") announces that its shares will resume trading today and notes the speculation with regard to a possible transaction with Genel Energy plc ("Genel") in relation to the potential sale by Longford of its interest in the Chia Surkh block in the Kurdistan Region of Iraq. Longford confirms that it is pursuing negotiations with Genel, however there is no certainty that these negotiations will result in a transaction. Longford is also in consultation with the Kurdistan Regional Government on their guidance and feedback with respect to the structure of any potential transaction. The Company will update the market if and when there are any material developments. <br />
About Longford Energy Inc. <br />
Longford Energy Inc. is a junior Canadian oil and gas exploration and production company. Longford holds a 40% working interest in the Chia Surkh Block Production Sharing Contract in the Kurdistan Region - Iraq. The Block offers a field development opportunity and multiple exploration prospects. </div><br />
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<h1 class="disqus_title">Gulf Keystone Rises 12% on Speculation That Company Will Be Sold</h1><a class="q" data-id="LXKVY66JIK1D01" data-type="Story" href="http://www.blogger.com/" style="display: none;"></a><div><div class="q_style_button add_to_q" jquery1326207604729="535" style="filter: alpha(opacity=100); zoom: 1;" title="Add to queue">Q</div></div><div><cite class="byline">By Brian Swint - <span class="datestamp"><script type="text/javascript">
document.write(dateFormat(new Date(1326192964000),"mmm d, yyyy h:MM TT Z"));
</script>Jan 10, 2012 2:56 AM PT </span></cite></div><cite class="byline"><span class="datestamp"><a class="web_ticker" density="sparse" href="http://www.bloomberg.com/apps/quote?ticker=GKP:LN" ticker="GKP:LN" title="Get Quote" topic_url="http://topics.bloomberg.com/gulf-keystone-petroleum-ltd/"><span style="color: #0033cc;">Gulf Keystone Petroleum Ltd. (GKP)</span></a>, an oil and gas explorer in the Kurdistan region of northern Iraq, rose to a record on speculation that the company will be sold. <br />
Shares climbed as much as 12 percent in London and traded up 11 percent at 245.5 pence as of 10:54 a.m., the highest since listing in 2004. The stock rose 8.6 percent yesterday. <br />
The Bermuda-based company today confirmed that the Kurdistan regional government has the right to buy into the Shaikan and Akri-Bijeel blocks. The Daily Mail newspaper reported that speculation the company will be taken over had been revived after Gulf Keystone last month denied it was in talks with <a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=XOM:US" ticker="XOM:US" title="Get Quote" topic_url="http://topics.bloomberg.com/exxon-mobil-corp/"><span style="color: #0033cc;">Exxon Mobil Corp. (XOM)</span></a> <br />
“Gulf Keystone will sell up, that’s the consensus,” said Alex Ogbechie, an oil analyst at Fox-Davies Capital Ltd. in <a density="sparse" href="http://topics.bloomberg.com/london/"><span style="color: #0033cc;">London</span></a>. “It’s just a matter of time. The agreement on provisions of the contracts makes investors a bit more comfortable.” <br />
To contact the reporter on this story: Brian Swint in London at <a density="mailto" href="mailto:bswint@bloomberg.net" title="Send E-mail"><span style="color: #0033cc;">bswint@bloomberg.net</span></a> <br />
To contact the editor responsible for this story: Will Kennedy at <a density="mailto" href="mailto:wkennedy3@bloomberg.net" title="Send E-mail"><span style="color: #0033cc;">wkennedy3@bloomberg.net</span></a> <br />
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<a href="http://www.stockmarketwire.com/article/4288310/Oil-Gas-SectorGulf-Keystone-shares-rise-after-update-on-Kurdistan-operations.html">http://www.stockmarketwire.com/article/4288310/Oil-Gas-SectorGulf-Keystone-shares-rise-after-update-on-Kurdistan-operations.html</a><br />
<h1 style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-bottom: rgb(0,177,247) 2px solid; color: #002b79; font: 2em Georgia, serif; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Oil & Gas Sector:Gulf Keystone shares rise after update on Kurdistan operations</h1><br />
<div class="article-meta gutter-under" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; color: black; font: 13px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px 0px 20px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span class="date" style="color: #333333; font-size: 0.9em;">9 January 2012</span><span class="Apple-converted-space"> </span>|<span class="Apple-converted-space"> </span><span class="time" style="color: #2d6095; font-family: Georgia, serif; font-size: 1.2em; font-weight: bold;">15:59pm</span></div><div class="article-body KonaBody" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; color: black; display: block; font: 1.05em Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; padding-bottom: 20px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><a class="smw-body" href="http://www.stockmarketwire.com/" style="color: black; font-weight: bold; outline-style: none; text-decoration: none;">StockMarketWire.com</a><span class="Apple-converted-space"> </span>- Shares in Gulf Keystone (LON:GKP) rose after it gave a detailed update on its ongoing exploration and appraisal programme in the Kurdistan region of Iraq.<br />
<br />
This includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis with a mean value of 10.5 billion barrels.<br />
<br />
Gulf Keystone says it continues a well testing programme for the Shaikan-4 appraisal well, drilled 6 km to the west of the Shaikan-1 discovery well, targeting several formations in the Jurassic and Triassic.<br />
<br />
One well test in the Triassic has been completed and six further tests are planned. Once the testing programme has been completed in all target formations the Company will make the appropriate announcement.<br />
<br />
The Shaikan-5 appraisal well, 6 km to the north-east of the Shaikan-2 appraisal well, is currently drilling at a measured depth of 1,008 metres.<br />
<br />
After slower than expected drilling progress due to temporary hole stability issues encountered in the shallow formations, the well is now drilling ahead to the estimated total depth of 3,500 metres subject to technical conditions.<span class="Apple-converted-space"> </span><br />
<br />
The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, has drilled to a measured depth of 362 metres and 26-inch casing has been set.<span class="Apple-converted-space"> </span><br />
<br />
The well will drill to the estimated TD of 3,800 metres subject to technical conditions.<span class="Apple-converted-space"> </span><br />
<br />
The company says that as part of the ongoing extended well test on the Shaikan block, the output from the Shaikan-1 and 3 EWT facility has been at an average level of 2,520 barrels gross of oil per day from the latter part of November through to the end of 2011, totalling 103,328 barrels gross as of 31 December.<span class="Apple-converted-space"> </span><br />
<br />
At the end of 2011, Shaikan test production levels were in excess of 4,000 barrels gross of oil per day and are due to increase further after the ongoing upgrade of the Shaikan-1 and 3 EWT facility has been completed and additional test production facilities have been designed and built.<span class="Apple-converted-space"> </span><br />
<br />
The upgraded and additional EWT facilities will allow test production of Shaikan crude to export specification and a subsequent ramp-up of the company's export operations.<span class="Apple-converted-space"> </span><br />
<br />
Gulf Keystone is the operator of the Shaikan block with a working interest of 75% and is partnered with Kalegran Ltd, a subsidiary of MOL Hungarian Oil and Gas, and Texas Keystone Inc which have working interests of 20% and 5% respectively.<span class="Apple-converted-space"> </span><br />
<br />
Gulf Keystone says that according to the operator's Akri-Bijeel block operational update and 2012 outlook issued on 28 December, the exploration and appraisal programme will continue with two exploration wells (Barkman-1 and Gulak-1) and four appraisal wells (Aqra-1, Bijell-2, Qalati-1 and Qandagul-1) to be drilled in 2012.<span class="Apple-converted-space"> </span><br />
<br />
Following the completion of the Bekhme-1 exploration well testing programme, after the well reached TD at 5,000 metres in the Triassic, the rig is currently moving to the Aqra-1 appraisal well drilling location with the well expected to be tested in the second half of 2012.<span class="Apple-converted-space"> </span><br />
<br />
While no commercial inflow of hydrocarbons was encountered in Bekhme-1, new data gained during the well testing programme is a significant contribution to the continuously improving knowledge of this unexplored region, decreasing uncertainty for the remaining Akri-Bijeel prospects.<br />
<br />
In addition to the envisaged acquisition of a significant amount of 3D seismic data over the Bijell discovery area, an extended well test is planned for the Bijell-1 discovery well in 2012, similar to the ongoing successful Shaikan-1 & 3 extended well test.<span class="Apple-converted-space"> </span><br />
<br />
The operator plans to build a surface facility with 10,000 barrels of oil equivalent gross capacity and a 30,000 barrels storage capacity by the third quarter of 2012.<span class="Apple-converted-space"> </span><br />
<br />
Gulf Keystone has a 20% working interest in the Akri-Bijeel block operated by Kalegran.<br />
<br />
Gulf Keystone says the first exploration well on the Ber Bahr block is drilling at a measured depth of 2,418 metres in the Triassic to the estimated TD of 3,000 metres subject to technical conditions.<span class="Apple-converted-space"> </span><br />
<br />
Gulf Keystone has a 40% working interest in the Ber Bahr block operated by Genel Energy.</div><div>===============================================</div><div><a href="http://www.reuters.com/article/2012/01/10/genelenergy-idUSL6E8CA0IY20120110">http://www.reuters.com/article/2012/01/10/genelenergy-idUSL6E8CA0IY20120110</a></div><div><h1 style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 32px/1.1 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">UPDATE 1-Genel says to pump more oil from Kurdistan field</h1><div class="facebookRec" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; clear: both; color: black; font: medium arial, helvetica, sans; letter-spacing: normal; orphans: 2; padding-top: 5px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; 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font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="midArticle_start"></span><div id="articleInfo" style="margin-bottom: 10px;"><div style="color: #666666; font-size: 11px; line-height: 1.6; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span class="timestamp" style="color: #666666; font-size: 11px; font-weight: normal; margin: 0px;">Tue Jan 10, 2012 3:05am EST</span></div></div></span></div><div><span class="focusParagraph" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div style="font-size: 20px; line-height: 1.5; margin: 0px 0px 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">* To lift production to 100,000 bopd from 60,000</div></span><span id="midArticle_0" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">* Recent report upgraded reserves</div><span id="midArticle_1" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Jan 10 (Reuters) - Oil firm Genel Energy said it planned to pump significantly more oil by the end of 2012 by expanding facilities at its oil field in Kurdistan.</div><span id="midArticle_2" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">The company, established last year when the bid vehicle of former BP chief executive Tony Hayward bought Turkey's Genel Enerji, said that it aimed to lift production from the Tawke field to 100,000 barrels of oil per day (bopd) by the end of 2012 from the current level of around 60,000 bopd.</div><span id="midArticle_3" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Genel's confidence in being able to pump more oil from the Tawke field was boosted by a recent independent report which found proved and probable reserves were 78 percent higher than previously thought, at 509 million barrels of oil.</div><span id="midArticle_4" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Norwegian oil firm DNO, the operator of the Tawke field and Genel's partner, said in July 2011 that the field had "ultimate" recoverable reserves of 636 million barrels.</div><span id="midArticle_5" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">DNO's Head of Exploration, Tore Lilloe-Olsen, told an investor conference on Monday that the field could pump 100,000 bopd after improvements planned for this year.</div><span id="midArticle_6" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">He added that the field had a "realistic mid term capacity" of 200,000 bopd, according to a copy of the presentation posted on DNO's website.</div><span id="midArticle_7" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Genel and its partners DNO and the Kurdistan Regional Government will upgrade the pipeline and plant facilities and drill five more wells to reach the higher production target, Genel said on Tuesday.</div><span id="midArticle_8" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: small arial, helvetica, sans; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Shares in Genel closed at 754.5 pence on Monday, valuing the firm at 1.4 billion pounds ($2.16 billion).</div><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; font: 14px/1.6 arial, helvetica, sans; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">====================================================</div><div style="-webkit-text-size-adjust: auto; 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</div><noscript></noscript></div></span></cite></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-32677916110725058332012-01-09T08:11:00.000-08:002012-01-09T08:11:54.127-08:00Oil shifts - expect tremours - Iran and Indexes re-jig<div dir="ltr" style="text-align: left;" trbidi="on"><span style="font-size: x-large;"><strong>Expect tremours in the oil markets:</strong></span><br />
<br />
click on link for full story<br />
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<a href="https://customers.reuters.com/community/newsletters/oil/InsideOil20120109.pdf">https://customers.reuters.com/community/newsletters/oil/InsideOil20120109.pdf</a><br />
<br />
<span style="color: #003e9a; font-family: Knowledge-Light;"><span style="color: #003e9a; font-family: Knowledge-Light;"><div align="left">West readies oil stocks release, Iran plans war</div><div align="left">games</div></span></span><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><div align="left">By Robin Pomeroy and Peg Mackey</div><div align="left">TEHRAN/LONDON, Jan 6 (Reuters) - Iran announced on</div><div align="left">Friday new military exercises in the Strait of Hormuz, but</div><div align="left">the West has readied plans to use strategic oil stocks to</div><div align="left">replace almost all Gulf oil lost if Iran blocks the waterway,</div>industry sources and diplomats told Reuters.<br />
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===============================================</span></span></span><span style="color: #003e9a; font-family: Knowledge-Light;"><span style="color: #003e9a; font-family: Knowledge-Light;"><div align="left">Oil markets brace for turbulence of index shift</div></span></span><span style="color: #003e9a; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #003e9a; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #003e9a; font-family: Knowledge-Medium; font-size: x-small;"><div align="left">By Joshua Schneyer and Matthew Robinson</div></span></span></span><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><span style="color: #314648; font-family: Knowledge-Medium; font-size: x-small;"><div align="left">NEW YORK, Jan 6 (Reuters) - Amid the drama of Iran, the</div><div align="left">meltdown of refiner Petroplus and a wave of upbeat economic</div><div align="left">data, it was all too easy to overlook one of the most</div><div align="left">important short-term factors shaping oil markets this</div><div align="left">week: the reweighting of the world's biggest commodity</div><div align="left">indexes.</div><div align="left">The S&P GSCI Index and the DJ-UBS Index, the world's no.</div><div align="left">1 and no. 2 commodity indexes, announced two months</div><div align="left">ago plans to rejig their component weights to reflect growing</div><div align="left">trade in European benchmark Brent crude, at the expense</div><div align="left">of U.S. WTI, which some traders say had become</div><div align="left">detached from global prices.</div><div align="left">The transition is now nigh: over the course of five days next</div><div align="left">week, pension funds and investors who have an estimated</div><div align="left">$180 billion tracking those indexes will transfer their holdings</div>from prompt futures contracts into later months.</span></span></span></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-31450513919271418612012-01-09T07:37:00.000-08:002012-01-09T07:37:49.073-08:00Oil Shale - Theme for 2012<div dir="ltr" style="text-align: left;" trbidi="on"><h1 class="disqus_title">Theme for 2012 - Shale Oil explorers</h1><div class="disqus_title">======================================================</div><h1 class="disqus_title">Shale Bubble Inflates on Near-Record Prices</h1><br />
<a href="http://www.bloomberg.com/news/2012-01-09/shale-bubble-inflates-on-near-record-prices-for-untested-fields.html">http://www.bloomberg.com/news/2012-01-09/shale-bubble-inflates-on-near-record-prices-for-untested-fields.html</a><br />
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Surging prices for oil and gas shales, in at least one case rising 10-fold in five weeks, are raising concern of a bubble as valuations of drilling acreage approach the peak set before the collapse of Lehman Brothers Holdings Inc. <br />
Chinese, French and Japanese energy explorers committed more than $8 billion in the past two weeks to shale-rock formations from Pennsylvania to Texas after 2011 set records for international average crude prices and U.S. gas demand. As competition among buyers intensifies, overseas investors are paying top dollar for fields where too few wells have been drilled to assess potential production, said Sven Del Pozzo, a senior equity analyst at <a class="web_ticker" density="sparse" href="http://www.bloomberg.com/apps/quote?ticker=IHS:US" ticker="IHS:US" title="Get Quote" topic_url="http://topics.bloomberg.com/ihs-inc/"><span style="color: #0033cc;">IHS Inc. (IHS)</span></a> <br />
<a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=8002:JP" ticker="8002:JP" title="Get Quote" topic_url="http://topics.bloomberg.com/marubeni-corp/"><span style="color: #0033cc;">Marubeni Corp. (8002)</span></a>, the Japanese commodity trader, last week agreed to pay as much as $25,000 an acre for a stake in Hunt Oil Co.’s Eagle Ford shale property in Texas. The price, which includes future drilling costs, exceeds the $21,000 an acre <a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=MRO:US" ticker="MRO:US" title="Get Quote" topic_url="http://topics.bloomberg.com/marathon-oil-corp/"><span style="color: #0033cc;">Marathon Oil Corp. (MRO)</span></a> paid last year for nearby prospects owned by <a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=KKR:US" ticker="KKR:US" title="Get Quote" topic_url="http://topics.bloomberg.com/kkr-&-co-lp/"><span style="color: #0033cc;">KKR (KKR)</span></a> & Co.’s Hilcorp Resources Holdings LP. In the Utica shale of Ohio and Pennsylvania, deal prices jumped 10-fold in five weeks to almost $15,000 an acre, according to IHS figures. <br />
“I don’t feel confident that the prices being paid now are justified,” Del Pozzo said in a telephone interview from Norwalk, Connecticut. “I’m wary.” <br />
<h2>Vast New Resources </h2>The world’s largest energy producers, including <a class="web_ticker" density="sparse" href="http://www.bloomberg.com/apps/quote?ticker=XOM:US" ticker="XOM:US" title="Get Quote" topic_url="http://topics.bloomberg.com/exxon-mobil-corp/"><span style="color: #0033cc;">Exxon Mobil Corp. (XOM)</span></a> and <a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=RDSA:LN" ticker="RDSA:LN" title="Get Quote" topic_url="http://topics.bloomberg.com/royal-dutch-shell-plc/"><span style="color: #0033cc;">Royal Dutch Shell Plc (RDSA)</span></a>, are revisiting onshore U.S. prospects passed by in recent decades in favor of deep-water finds in West Africa and the <a density="full" href="http://topics.bloomberg.com/gulf-of-mexico/"><span style="color: #0033cc;">Gulf of Mexico</span></a>. New drilling techniques developed in the Barnett shale of north Texas have enabled companies to crack previously-impervious formations. <br />
Overseas explorers such as China Petrochemical Corp. and <a class="web_ticker" density="full" href="http://www.bloomberg.com/apps/quote?ticker=FP:FP" ticker="FP:FP" title="Get Quote" topic_url="http://topics.bloomberg.com/total-sa/"><span style="color: #0033cc;">Total SA (FP)</span></a> want to learn from U.S. partners so they can exploit vast shale resources in <a density="full" href="http://topics.bloomberg.com/europe/"><span style="color: #0033cc;">Europe</span></a> and <a density="full" href="http://topics.bloomberg.com/asia/"><span style="color: #0033cc;">Asia</span></a>, said Mark Hanson, an analyst at Morningstar LLC in <a density="full" href="http://topics.bloomberg.com/chicago/"><span style="color: #0033cc;">Chicago</span></a>. <br />
The U.S. holds an estimated 2,543 trillion cubic feet of gas, enough to meet domestic demand for more than a century at current rates of consumption, according to the Energy Department in <a density="full" href="http://topics.bloomberg.com/washington/"><span style="color: #0033cc;">Washington</span></a>. Shale accounts for 862 trillion of that total, or 34 percent. In <a density="sparse" href="http://topics.bloomberg.com/china/"><span style="color: #0033cc;">China</span></a>, shale formations hold an estimated 1,275 trillion cubic feet of gas, 12 times as much as the nation’s so- called conventional fields. <br />
<h2>Buying to Continue </h2>The buying spree is likely to continue because international oil producers are eager to amass reserves in the U.S., which surpassed <a density="full" href="http://topics.bloomberg.com/russia/"><span style="color: #0033cc;">Russia</span></a> in 2010 as the world’s largest source of gas, said Christian O’Neill, an analyst at Bloomberg Industries in Princeton, <a density="full" href="http://topics.bloomberg.com/new-jersey/"><span style="color: #0033cc;">New Jersey</span></a>. <br />
Oil production also has blossomed in the world’s largest economy, rising to a 9-year high of 5.78 million barrels a day in October, the most recent month for which the Energy Department in Washington has figures. <br />
Hunt, the closely held Dallas company founded by <a density="sparse" href="http://topics.bloomberg.com/texas/"><span style="color: #0033cc;">Texas</span></a> tycoon H.L. Hunt in 1934, has only drilled “a handful” of wells in its Eagle Ford shale acreage, which means it doesn’t yet know how extensive or rich those holdings are, Del Pozzo said. Similarly, because drilling in the Utica shale in the U.S. northeast still is in its infancy, the geological characteristics and potential bounty of the region are hard to assess, said Manuj Nikhanj, head of energy research at ITG Investment Research Inc. <br />
“The big risk is that people are jumping in with both feet too early,” Nikhanj said in a telephone interview from Calgary. “Of course, the other side of that is that if they wait, they risk missing out on what could turn out to be a big deal.” <br />
=====================================<br />
<br />
2012 comes in with a strong oil theme.<br />
<br />
Keystone pipeline delayed until after Presidential election.<br />
- Alberta Bakken Oil explorers affected.<br />
<br />
Surging interests in Kurdistan Oil explorers.<br />
- check the previous postings for Westernzagros, Vast, Longford<br />
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More research required here..........the Goombarh.<br />
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</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0tag:blogger.com,1999:blog-3946479452062652881.post-13782350017463662602012-01-09T06:50:00.000-08:002012-01-09T06:50:03.719-08:00Shoal Point Energy - Oil Test, Newfoundland<div dir="ltr" style="text-align: left;" trbidi="on"><div class="aHeader" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; float: left; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; padding-bottom: 0px; padding-left: 40px; padding-right: 0px; padding-top: 10px; position: relative; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: 560px; word-spacing: 0px;"><div class="aSubjectline" style="color: #e6911e; font-size: 18px; font-weight: normal; letter-spacing: -1px; line-height: 22px; padding-bottom: 3px; width: 530px;">Shoal Point Energy Ltd. Announces Commencement of Drilling Operations and Closing of Additional Financing.</div><div class="aInfoline" style="color: black; font-size: 11px; line-height: 16px; width: 548px;">Shoal Point Energy Ltd<span class="Apple-converted-space"> </span><a href="http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=C.SHP&table=LIST" style="color: #a06846; cursor: pointer; text-decoration: none;">SHP</a></div><div class="aInfoline" style="color: black; font-size: 11px; line-height: 16px; width: 548px;">1/5/2012 7:00:00 AM</div></div><div class="aMiddle" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: black; display: block; float: left; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; overflow-x: auto; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: 600px; word-spacing: 0px;"><div class="aBody" style="color: #444444; font-size: 14px; line-height: 18px; margin-left: 40px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; width: 525px;"><span id="intelliTxt"><div class="qmnews_headline">Shoal Point Energy Ltd. Announces Commencement of Drilling Operations and Closing of Additional Financing.</div><div class="qmnews_story" id="story"><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">(via Thenewswire.ca)</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">Toronto, ON: Shoal Point Energy Ltd. (the "Company" or "Shoal Point") (SHP on CNSX) announces that it has commenced drilling operations and has closed additional financing.</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">Operational Update</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">Shoal Point is pleased to announce that drilling operations have commenced at the Shoal Point 3K39z well, at Shoal Point, Port au Port Bay, Newfoundland. The borehole has been drilled to a measured depth of 1745 metres, and is cased to a measured depth of 1711 metres. Liquid hydrocarbon shows were recorded over the entire gross section of the well below about 700 metres, primarily in the form of gas chromatography/mud gas indicators, blue-white fluorescence in rock cuttings cut in solvent, oil-stained core, and petrophysics.</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">The current program is scheduled to set a whipstock, sidetrack, and deepen the current borehole to near the base of the Ordovician Green Point Formation, the primary target of the current exploration program. The evaluation program will involve the flow testing of up to five zones, including (1) a lower open-hole test in new hole, (2) a cased-hole extended formation leak-off (injection) test, and (3) up to three cased-hole perforation flow tests.</div><div style="color: #444444; margin: 0px; padding-bottom: 5px; padding-left: 0px; padding-right: 0px; padding-top: 5px; text-indent: 0px;">The lower open-hole test is designed to assess the natural flow properties and hydrocarbon saturation of newly-drilled (un-invaded) formation near the base of the well. The leak-off test is designed to assess the matrix rock properties and hydrocarbon saturation of the formation, as identified by NuTech, our petrophysical consultants, so that programs for stimulation of the Green Point Formation may be designed in the future. The cased-hole perforation flow tests are designed to assess the hydrocarbon saturation and the unstimulated natural flow potential of the formation which arises from a high concentration of bedding-parallel natural fractures, as interpreted by NuTech and the Company's geological team from logs, core and gas chromatography data. One of these fractured zones indicated potential permeability on a short open-hole Closed Chamber Test carried out during the initial drilling of the well, as reported by the company on June 24, 2011.</div></div></span></div></div><a href="http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8394485">http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8394485</a><br />
<br />
Photos @:<br />
<span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; color: black; display: inline !important; float: none; font: 13px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">http://www.investorvillage.com/smbd.asp?mb=11925&mn=28250&pt=msg&mid=11266363</span><br />
<br />
Stock prices @:<br />
<a href="http://cnsx.ca/Page.asp?PageID=2013&AA_RecordID=344">http://cnsx.ca/Page.asp?PageID=2013&AA_RecordID=344</a><br />
<br />
chart @:<br />
<a href="http://investdb.theglobeandmail.com/invest/investSQL/cnsx.show_chart?pl_primary_listing=SHP-CN&iaction=Generate&pl_period=12D">http://investdb.theglobeandmail.com/invest/investSQL/cnsx.show_chart?pl_primary_listing=SHP-CN&iaction=Generate&pl_period=12D</a><br />
<br />
more info on this guy @:<br />
<a href="http://www.investorideas.com/Research/PDFs/2011/SHP_110211.pdf">http://www.investorideas.com/Research/PDFs/2011/SHP_110211.pdf</a><br />
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The Goombarh holds this one, tucked away and almost forgot about it.<br />
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Nice movement upwards now...bright prospects for 2012</div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com1tag:blogger.com,1999:blog-3946479452062652881.post-75474952426836829382012-01-09T06:44:00.000-08:002012-01-09T06:44:41.364-08:00Westernzagros Updates on Kurdistan Oil drilling<div dir="ltr" style="text-align: left;" trbidi="on"><a href="http://cnrp.ccnmatthews.com/client/westernzagros/release.jsp?actionFor=1552801">http://cnrp.ccnmatthews.com/client/westernzagros/release.jsp?actionFor=1552801</a><br />
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<div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><strong style="margin: 0px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">JAN 9, 2012 - 04:40 ET</strong></div><strong style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 12px; font-style: normal; font-variant: normal; letter-spacing: normal; line-height: normal; margin: 0px; orphans: 2; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></strong><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><strong style="margin: 0px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">WesternZagros Provides Operational Update</strong></div><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; display: inline !important; float: none; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; display: inline !important; float: none; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><span style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; display: inline !important; float: none; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></span><div style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px 0px 10px; orphans: 2; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></div><div class="mw_release" style="-webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: white; color: #333333; font: 12px Arial, Helvetica, sans-serif; letter-spacing: normal; margin: 0px; orphans: 2; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><strong style="margin: 0px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">CALGARY, ALBERTA--(Marketwire - Jan. 9, 2012) -</strong></div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center;"><strong style="margin: 0px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES</strong></div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") is pleased to provide an operational update for the drilling and testing operations at Mil Qasim-1 and Kurdamir-2, and the continued production from the Sarqala-1 extended well test. </div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Mil Qasim-1 Exploration Well (Garmian Block)</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The Mil Qasim-1 well was cased to a depth of 2,129 metres and successfully drilled and wirelined logged to a final total depth of 2,425 metres. The planned testing program of the Upper Fars sandstone reservoir is ongoing. An initial open hole drillstem test (DST) conducted in the lowermost part of the wellbore successfully flowed oil to surface with no water. A second DST test is presently being performed in the Upper Fars within the lower part of the cased hole section. The Company plans to release final results from the testing program when it is completed.</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Kurdamir-2 Exploration Well (Kurdamir Block)</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The Kurdamir-2 exploration well has been drilled through the Lower Fars top seal to a depth of approximately 2,270 metres, where the third string of casing will be set above the Oligocene reservoir. Operations, to date, remain on time and on budget. WesternZagros anticipates that the drilling and testing of the Oligocene reservoir will occur in the first quarter of 2012, with the deeper Eocene and Cretaceous reservoirs expected to be drilled and tested by the end of the second quarter of 2012.</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Sarqala-1 Extended Well Test (Garmian Block)</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Oil production from the extended well test of Sarqala-1 continues uninterrupted, averaging over 4,000 bopd in December. This production is refined in local plants under the auspices of the Ministry of Natural Resources.</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">WesternZagros anticipated production from the extended well test to continue to increase in January and is currently increasing the tank capacity to optimize production and truck loading.</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">================================================</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">WZR is being very coy about what they are doing presently.</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Could this be because they are scheduled to present at quite a few oil investor's presentations in Europe over the next month?</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Whatever the case, the 2012 looks rosy for Westernzagros</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Jan 9, 2012</div><div style="margin: 0px 0px 10px; outline-style: none; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Goombarh</div></div></div>The (Marco G.) Goombarhhttp://www.blogger.com/profile/00968594505519640795noreply@blogger.com0