Gold outlook seen bright dips 3 percent on dollar rise
4:50 AM
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Gold outlook seen bright dips 3 percent on dollar rise
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
Gold fell 3 percent on Wednesday as the dollar rallied amid mounting worries about the global economy and Europe's worsening debt crisis, while this week's brutal correction also kept jittery investors at bay.
Silver dived 7 percent on sharply weaker commodity prices as crude oil and grains tumbled. Wall Street fell 2 percent on the commodities rout and news that bans on short-selling stocks in France, Italy and Spain had been extended.
Bullion, which staged a one-day rally on Tuesday along with commodities and equities, has lost around 10 percent in the past five sessions after a sharp margin increase and heavy selling by funds to cover losses in other markets.
Gold investors, however, are unconvinced that the sell-off has damaged the metal's safe-haven status.
"I don't look at it as anything more than a fairly stiff correction within a secular bull market in gold prices," said Mark Luschini, chief investment strategist at Janney Montgomery Scott, a broker-dealer with $54 billion in assets.
"The issues that are supporting gold haven't gone away," he said.
Spot gold was down 2.9 percent at $1,601.79 an ounce by 3:36 p.m. EDT.
U.S. gold futures for December delivery settled down $34.40 at $1,618.10 an ounce. Trading volume was weaker than this week's average, suggesting lower liquidity might have accelerated bullion's decline.
Silver sank 6.9 percent to $29.64 an ounce in choppy trade.
Silver has notched its second major retreat of the year this month, falling almost 30 percent so far in September.
Traders also cited heavy selling by hedge funds to dress up end-of-quarter performance.
INVESTMENT HOLDS FIRM
Gold's sharp correction has not yet unnerved investors in the No. 1 gold exchange-traded fund, SPDR Gold Trust. And there is no sign that gold futures and options investors are heading for the exit, data showed.
Saxo Bank senior manager Ole Hansen said gold's 200-day moving average, currently at $1,530 an ounce, should provide support.
"The only worry is obviously how burned investors have become from this 20 percent correction, as something which was perceived to be safe suddenly was not anymore," Hansen said. Strong physical demand from Asia should support the market at lower prices, dealers said.
Gold bar premiums in India, the world's biggest bullion consumer, hit their highest in more than a year, to top $2 an ounce, after prices fell from record highs. Premiums for gold bars elsewhere in Asia also rose.
Gold traded at an unprecedented $100 premium to platinum on Wednesday as risk aversion weighed on industrial precious metals while supporting bullion. More than half of platinum demand comes from industry.
Spot platinum was down 2.4 percent at $1,522 an ounce, while palladium fell 4.1 percent to $616.99 an ounce.
(Additional reporting by Jan Harvey in London and Lewa Pardomuan in Singapore; Editing by Marguerita Choy and Dale Hudson)....RESOURCES
gold ETF investors hold on In "dash for cash"
4:37 AM
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gold ETF investors hold on In "dash for cash"
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Amid the second-largest gold sell-off since 1983, the casual observer could be forgiven for thinking that investors were dumping bullion in droves.
Initial data suggests otherwise.
The loss of confidence that caused gold prices to fall 10 percent in the four days through Monday has not yet unnerved investors in the leading gold exchange traded fund, nor caused futures traders to close out positions en masse, figures show.
The resilience of retail and professional traders in the face of heavy selling -- much of it said stemming from hedge funds eager to dress up end-of-quarter performance or pay margin calls in other markets -- supports the idea that bullion's shudder was a correction, not the end of its run.
It also appears to run counter to some speculation that one or another of the big institutional holders of the SPDR Gold Trust, the world's largest gold ETF, might have been liquidated. John Paulson's hedge fund held 7.6 percent of the $65 billion fund as of June 30, data show.
Physical gold holdings by the SPDR dipped only 0.8 percent during gold's four-day slump, despite prices falling by as much as 15 percent over that period, according to the latest holdings data released on Tuesday....READ MORE
Makes Plans Gold Investment to Your Financial Advisor - 28 September 2011
4:33 AM
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Makes Plans Gold Investment to Your Financial Advisor - 28 September 2011
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HAVING TROUBLE explaining to your financial advisor why you might want to make a Gold Investment today? asks Adrian Ash at BullionVault. (A version of this article first appeared this week in the Financial Times' FT Advisor.)
You could do worse than pointing out that, whatever your financial advisor's stance on gold today – long, short or indifferent – the recent run towards $2000 per ounce begs the question: How did this unyielding, industrially useless lump get here?
Yes, gold has more than doubled in price since the first interbank credit crunch. Yes, it's only attracted more headlines, and more investment Dollars, as the crisis mutates. But gold had already trebled by mid-2007 from its 2001 low. If that was a warning of trouble ahead, then investors, savers and their financial advisors might rightly ask what the 2011 rise – and more recent sell-off – signals.
This Gold Investment bull market's birth, a decade ago, has been variously attributed to gold's "trinket price" base, the geopolitical fears sparked by Y2K and then 9/11, cycled investment flows as the Tech Bubble burst, and the acceleration of the United States' twin deficits. In terms of both consumer goods and business assets, however, gold now stands well above its historic averages. Next year's US presidential campaigns may see gold politicized as the hollow call for a Gold Standard grows. But for now, Gold Investment remains a monetary, not political phenomenon, as the daily spot price's lacklustre response to both 2008's South Ossetia stand-off and the 2011 Arab Spring show......READ MORE
OPEC concerns affect crude oils standings
4:54 AM
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OPEC concerns affect crude oils standings
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With the global demand for crude oil floundering, representatives from OPEC have voiced their concerns over the oil commodity’s tumbling futures.
Crude oil prices fell more than 3% in New York and London today, amid persisting worries over Greece’s potential default on its debt. OPEC’s recent meet in Dubai sparked some harsh criticism towards Europe’s inability to handle its deteriorating debt situation and the E.U.’s largely inconclusive conference in Poland that was supposed to yield solutions for the issue.
OPEC has issued warning to the economically-floundering western nations, stating that if the economy does not receive a much-needed revival soon, billions of dollars in crude oil investments will be put at risk. The warning continued to state that severe changes to the stimulus strategies need to be made to solve unemployment issues that are crippling Europe and the U.S...READ MORE
Crude oil holds under $80 per barrel in Asia, Europe and New York
4:46 AM
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Crude oil holds under $80 per barrel in Asia, Europe and New York
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
Crude oil prices tipped lower Friday morning, dropping under $80 per barrel as equity markets continued to sputter in Asia, Europe and New York.
Equity markets dropped 1.3 percent in Hong Kong, 2 percent in Japan and 3.5 percent in Taiwan as an unraveling sell-off went to a third day.
Crude oil prices, pressured by debt issues in Europe and a recent report of slower manufacturing in China, are also caught up in the escalating talks of a second global recession.
On the New York Mercantile Exchange, November delivery West Texas Intermediate crude oil dropped to an overnight low of $77.55 per barrel before rebounding to $79.96 in late afternoon trading.
crude oil fell for the third straight day, down more than 25 percent
4:42 AM
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crude oil fell for the third straight day, down more than 25 percent
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BUFFALO, N.Y. - Although oil prices keep falling, down to around $80 per barrel Friday, the cost of gasoline is not dropping nearly as fast.
Benchmark crude oil fell for the third straight day, down more than 25 percent from highs in May. So many drivers wonder why Buffalo gas prices have only fallen a few pennies over the past week.
Exxon-Mobil made $10.7 billion in the second quarter of 2011. Shell posted profits of $8.7 billion. Chevron made $7.7 billion. BP profited $5.6 billion. And ConocoPhillips made $3.4 billion. Senior Petroleum Analyst Patrick DeHann....READ MORE
Oil Prices Today – Current information on prices, charts, and market news.
4:31 AM
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Oil Prices Today – Current information on prices, charts, and market news
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Crude Oil and Commodity Prices
September, Sunday 25 2011 - 07:25:33
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The recent volatility in oil prices has managed to capture quite a few headlines in the news media and in prominent financial publications over the course of the last few years. Oil prices today continue to hover at historically high levels. Rising gas prices have brought heightened interest in crude oil pricing outside of the trading community as consumers just beginning to recover from a lengthy recession have seen their budgets pinched by $4.00 per gallon gasoline.....READ MORE
Gold Price Today in Japan
8:04 PM
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Gold Price Today in Japan
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today's gold prices in Japan in Japanese Yen (JPY) according to the local timezone of Tokyo in addition to the last price of yesterday with calculation of the change percent. This includes gold prices in ounce and gram of all gold karats; karat 24, karat 22, karat 21, karat 18, and karat 14.
Update: We have added the ask and bid gold price in addition to details about the latest gold trades.
Note: Gold prices are updated every 30 minutes
JPY
Last update: Sunday 25th September 2011 09:00 am According to the time zone of Tokyo
Gold Unit Current Price
Sunday 25th September 2011 Previous Price
Saturday 24th September 2011 Change Percent
Gold Ounce 129,521.03 129,521.03 0.00 %
Gold Pound 29,152.64 29,152.64
Gold Gram Karat 24 4,164.66 4,164.66
Gold Gram Karat 22 3,817.30 3,817.30
Gold Gram Karat 21 3,643.35 3,643.35
Gold Gram Karat 18 3,122.49 3,122.49
Gold Gram Karat 14 2,430.04 2,430.04
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Gold Price Today in Saudi Arabia
7:58 PM
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Gold Price Today in Saudi Arabia
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today's gold prices in Saudi Arabia in Saudi Arabian Riyal (SAR) according to the local timezone of Riyadh in addition to the last price of yesterday with calculation of the change percent. This includes gold prices in ounce and gram of all gold karats; karat 24, karat 22, karat 21, karat 18, and karat 14.
Update: We have added the ask and bid gold price in addition to details about the latest gold trades....READ MORE
Gold Prices & Silver Prices, Price of Gold Coins Today
9:13 AM
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Gold Prices & Silver Prices, Price of Gold Coins Today
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Get the current gold price, live gold prices, world gold prices, London gold prices, gold spot price, gold price today in the U.S., and gold bullion prices online. If you want more precious metals info or want to check gold coin prices, please shop Austin Rare Coins & Bullion or the Gold Information Network. Gold price questions? Feel free to call seven days a week 9am to 9pm central time at 1-800-928-6468.
Visit the Gold Information Network for today's best buys and live gold prices on gold coins, gold bullion, gold American Eagles, and 2011 world coins.
The decision to add gold to your portfolio is a serious one. We recommend you research gold prices and the gold bullion coin market carefully before making an investment in gold. For the best gold price, you should call and ask for cash and quantity discounts with a leading gold dealer like Austin Rare Coins & Bullion who sell gold online.
Austin Rare Coins & Bullion has a great selection of gold coins from all over the world. In stock now with live gold prices for American Eagles, American Buffalo, Canadian Maple Leafs, China Mint Pandas and Australian Kangaroo gold coins. Shop now online for 2011 Gold Coins.
The lowest gold prices and all the facts on securing non-reportable, private gold coins, gold bullion prices, and American Eagles.
Asean upsets more vulnerable to energy supply
1:13 AM
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Asean upsets more vulnerable to energy supply
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BANDAR SERI BEGAWAN -- Asean is now more vulnerable to energy supply disturbances as the region sources more of its supply outside the bloc, an executive yesterday said.
Dr Pailin Chuchottaworn, president and CEO of Thailand's PTT Public Co Ltd, said that as one of the fastest growing region in the world, Asean would require more energy to keep up with its rapid pace of economic expansion.
"Asean's economic growth still performs greater than many other countries in the world. Unfortunately, that growth is mainly a result of the region's very high energy consumption," he said in his presentation on the region's oil and gas outlook at the 29th Asean Ministers on Energy Meeting Tuesday.
He said that most Asean countries are net oil importers, with eight out of the 10 countries depending on crude imports. "So we can see that Asean is becoming more dependent on petroleum resources outside the region, making Asean more vulnerable to disturbances in energy supply."
Most Asean countries are highly dependent on oil import more than ever, with a projected 315,786 kilotonne of oil equivalent by 2030, he said.
"Our consumption of energy in the next 15 to 20 years will be doubled, yet we have very limited reserve," he said, noting that Asean's oil production would keep declining towards 2030, as well as gas production in the near future.
Dr Chuchottaworn addressed the need for Asean countries to improve its energy efficiency in order to use valuable resources wisely, and that members should start embracing market economy by being competitive if they wish to achieve the Asean Economic Community in 2015. Improving energy efficiency is the best way to ensure energy security, limit greenhouse gas emissions, and insulate economies from the volatility of energy prices, he added.
He said Asean countries also need to more away from protectionism and reduce subsidies to the sector.
He pressed member countries to promote renewable energy, such as biofuel, solar, wind power and geothermal.
The peak oil crisis on German army report
1:09 AM
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The peak oil crisis on German army report
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In the last five or six years at least 20 major studies have been published by governmental and non-governmental organizations that either deal with or touch upon the possibility of severe energy shortages developing in the near future.
Studies done by governmental entities, however, are rare for nearly all of the world's governments still prefer to wait as long as possible before confronting the myriad of problems that will accompany declining oil production. Exceptions to this phenomenon of denial, however, seem to be military organizations that have realistic planning baked into their DNA. All professional military services know that in the last century they have become so dependent on liquid fuels that their effectiveness would be severely degraded should shortages or extremely high oil prices develop.
Last year two military planning organizations went public with studies predicting that serious consequences from oil depletion will befall us shortly. In the U.S. the Joint Forces Command concluded, without saying how they arrived at their dates, that by 2012 surplus oil production capacity could entirely disappear and that by 2015 the global shortfall in oil production could be as much as 10 million b/d. Later in the year a draft of a German army study, which went into greater detail in analyzing the consequences of peaking world oil production, was leaked to the press. The German study which was released recently is unique for the frankness with which it explores the dire consequences which may be in store for us.
The Bundeswehr Transformation Center, the organization that prepared the study, starts with the assertion that as there are so many forces in play, it is impossible to determine an exact date for peak oil, but that it will become obvious in hindsight. The Germans also believe that it is already too late to complete a comprehensive global transition to a post fossil fuel economy. They introduce the notion of a peak oil induced economic "tipping point" that would trigger so much economic damage that it is impossible to evaluate the possible outcomes.
For the near future the study foresees that a very large increase in oil prices would harm the energy-intensive agricultural systems that produce much of our food. Not only could the costs of fertilizers and pesticides become prohibitive, but the massive amount of oil-dependent transportation needed to move agricultural products long distances could make food unaffordable for many.
The study goes on to postulate a "mobility crisis" that would arise from substantial increases in the costs of operating private cars and trucks. Although sudden shortages could be relieved by volunteer and regulatory measures, ultimately the mobility crisis would feed into and add to the worsening economic situation.
As oil is used either directly or indirectly in almost 90 percent of industrial production, major increases in the price of oil would change most price relationships. Domestic and foreign trade will have to adapt to these new relationships but doing so will likely lead to economic upheavals. As businesses transform to less oil-dependent forms of services and production, there would likely be an extended period of "transformation unemployment" that will become a major economic problem. A case could be made that our current "jobs" crisis is simply the leading edge of the "transformation unemployment" that could go on for decades.
The German study maintains that all countries on earth will sooner or later be faced with the problem of transitioning to a post-fossil fuel age. As such a transition has never happened before, there are no guidelines for how it is to be accomplished. Of great significance is the willingness of nations to implement the economic policies necessary to effect the transformation to the post fossil fuel age. Forms of government will be sorely tested. The Germans who have much experience in these matters note that only continuous improvement in individual living conditions forms the basis for tolerant and open societies. Given the widespread unemployment and high mobility costs that are almost certain to accompany the transition to a post fossil fuel world, democratic forms of government are likely to face severe challenges. We all remember the Weimar Republic. Also of note are recent studies within the OECD that show that voting for extremist and nationalist political parties tends to increase with economic setbacks.
For the immediate future, however, the German Army study foresees: 1. increasing oil prices that will reduce consumption and economic output (i.e. a recession or worse); 2. increasing transportation costs that will lead to lower trade volumes - less income for many and unaffordable food for some; and 3. pressure on government budgets as they must keep populations fed, deal with the social consequences of mass unemployment, and attempt to invest in sustainable sources of energy. Governmental revenues are bound to fall as unemployment increases along with resistance to further taxation.
In the medium term, most companies would come to realize that the global economy is going to be shrinking for a long time and act accordingly. In an indefinitely shrinking economy, savings would not be invested as profits could no longer be made or borrowing costs paid. In this environment, the banking system, stock exchanges and financial markets would have a hard time surviving.
Banks would be left with no reason to exist as they would not be able to pay interest on deposits or find credit-worthy companies or individuals. The final step would be the loss of confidence in currencies and with them the ability to carry on normal economic transactions outside of barter.
If all this sounds extreme to American ears, remember the Germans have been through far more than we have in the last century. What is interesting is the way they are telling it like they see it - no pulling of punches here.
Micro Cap Oil And Gas Producers Risk
1:05 AM
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Micro Cap Oil And Gas Producers Risk
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looking for a high risk/reward scenario, nano caps can be the best way to leverage an investment. This is not a well known term but relates to a company with a market cap of less than $50 million. Micro cap is a better known term of a market cap between $50 to $300 million. Oil and Gas producers of this size not only provide an increased upside, but offer risk most investors would like to avoid. A ten percent move in these companies can happen for little or no reason. Because of the large moves, these stocks are targeted by day traders. I have compiled a list of oil and gas producers that qualify as nano and micro caps. This list will help identify smaller oil and gas players for those interested in this level of risk.
Blue Dolphin (BDCO) operates as an oil and gas exploration and production company. Blue Dolphin has been in operation for over 25 years. It has over 71 miles of pipeline in the Gulf of Mexico. It also has interests in three separate offshore oil and gas production leaseholds.
Galveston 321: 0.5% overriding royalty interest
High Island 115: 2.5% working interest
High Island 37: 2.9% working interest
Blue Dolphin has a 7% working interest in Indonesia. This North Sumatra Basin-Langsa Field could be a very large oil find, especially for a company this size. Blue Dolphin is in the process of divesting its pipeline assets for the purpose of expanding its oil and gas portfolio.
After a very large move in February of this year, the stock price has pulled back from $8.42 and closed at $2.46 on Wednesday. Blue Dolphin resumed trading on the Nasdaq last month after a brief de-listing. Second quarter of 2011 numbers were a loss, but there was a slight improvement year over year. Revenue increased to $620000 from $483000 a year earlier for the quarter. Net loss per share was 20 cents vs. 22 cents in the second quarter of 2010. One positive metric, Blue Dolphin has is a one year EPS growth of 77.55%. It is hard to know what Blue Dolphin's future holds. I like its move from the pipeline business to a straight oil and gas producer. The key is its assets in Indonesia, as this has the possibility of being a very large oil producer.
Cano Petroleum (CFW) has seen better times. The one analyst covering it has Cano losing 15 cents/share this year. It has missed earnings for four straight quarters. Each quarterly miss was at least 100%, with the largest miss being 300%.
Cano has acquired a series of assets over the years, for the purpose of using secondary and enhanced oil recovery methods to obtain resource. Its assets are located in New Mexico, Oklahoma and Texas. These acquisitions have been paid for through the issuance of stock. This stock dilution has been part of the reason Cano trades for 18 cents per share, down from $1.13 two years ago. Third quarter of 2011 results saw operating quarterly revenues increase 16% year over year. Cano saw oil sales volumes decrease, but realized a higher sales price. It lost 11 cents per share for the quarter. The problems with Cano's business seem to be too large to be optimistic about its future. I would not buy Cano as it will have to continue to cut shares to maintain its business even if oil prices continue to improve.
Earthstone Energy (ESTE) is a small oil company headed in the right direction. I have been following this name for a while now, and have noticed a change in Earthstone's strategy. Up until recently, Earthstone was acquiring assets. Many of these assets were underperforming wells that Earthstone would rework to increase production. It has producing properties on shore in the Gulf Coast. Its Rocky Mountain assets are in Montana, North Dakota, Wyoming and Colorado.
Earthstone has changed the emphasis of its business, and is now acquiring small working interests in Bakken wells. This non-operative approach has been lucrative for many small oil companies in North Dakota and Montana. In the first quarter of 2011, Earthstone reported revenues of $2.5 million vs. $1.7 million in the first quarter of 2010. It had net income of $665,000 vs. $378,000 in the first quarter of last year. Oil production for the quarter was a little less than the year prior, but natural gas production was significantly higher. It received an oil price of $96.93/barrel, and $9.33/Mcf.
Earthstone is active in Banks Field of McKenzie County in North Dakota. It has working interest in Zenergy and Brigham (BEXP) wells. It has very small working interests in three completed wells that are still confidential. What is interesting is that its wells that have not been completed. Its four upcoming wells are being operated by Brigham. Brigham's most recent well had an IP rate of 2746 Bo/d. More importantly, the well has produced over 38 thousand barrels of oil in the first 33 days. The two wells not on a confidential list, produced around 500 barrels of oil in the first 24 hours of production. This shows Brigham's ability to get more out of each Bakken well. I am bullish Banks Field, as it has had very good results as of late. Earthstone also has non-operated interest Indian Hill Field in McKenzie County. This well is operated by Continental (CLR).
Earthstone is compelling. It had a very good quarter and was able to realize very high oil and gas prices. As the Brigham wells come on line, I would expect it will provided revenue to purchase further interests in wells. Earthstone seems to prefer working with Brigham over other producers. This is not surprising based on results. In my opinion, this is a very good business move and like Earthstone's prospects.
HKN Inc. (HKN) has made a major change to its business model over the past year. It sold its investment in Spitfire Energy of Canada and now has a large ownership in Britewater International. HKN plans to increase its ownership from 98.17% to 100% in the third quarter of this year making Britewater a wholly owned subsidiary. It has interest in Britewater based on its technology that recovers oilfield emulsions. This technology is patented and recently it was announced that a subsidiary of Britewater is evaluating the construction of a processing plant in Alaska.
HKN is more a play on its Britewater technology than its oil and gas business. It is an interesting process, but there is no concrete evidence this will drive earnings in the short term. The second quarter of 2011 results were well below that of a year earlier. It realized increased oil prices but these were more than offset by lower production due to weather related issues. Most importantly is its share dilution due to its purchasing of Britewater. Overall it realized a 2 cent loss for the quarter compared to a gain of 17 cents a year earlier. I think HKN is worth watching, but I would not invest in the name until improvements are seen, and the company becomes profitable again. It is very difficult to value this company based on its Britewater purchase until we know this technology will improve its business.
Mexco Energy (MXC) currently operates 17 wells. It also has working interests in more than 2700 gross or 26 net wells. In the first quarter of 2011, Mexco made a profit. Revenues were $909,094 vs. $836,393 in the first quarter of last year. Production expenses were $227,902 vs. $368,227 in the same quarter of 2010. Mexco earned 5 cents/share. Mexco is a very small oil and gas production company that purchases very small working interests in wells throughout the United States. Due to its size, it has significant leverage to the price of oil and would significantly benefit from rising oil prices.
Royale Energy (ROYL) use to be a pure natural gas play, but it has shifted some of its production to oil. Royale is an operator and sells working interests in those wells. It has interests in California, Utah, Texas, Oklahoma, and Louisiana. In July of this year, Royale posted earnings for the second quarter of this year. It has over 9000 net developed and over 11,000 net undeveloped acres in California. Outside of California, Royale has approximately 1800 net developed and almost 14,000 net undeveloped acres. Royale has begun selling interests in the wells it operates. The revenue from its turnkey drilling business, has allowed Royale to become profitable. Royale has also been able to keep decreasing costs which has improved its bottom line.
Lucas Energy (LEI) is a small oil and gas company that initially made its business of purchasing shut in, abandoned or poor producing wells. These wells are re-worked to start or increase production. Lucas has 15,000 gross acres in Gonzales, Wilson, Karnes, and Atascosa Counties in Texas. These have been productive oil producing counties in the Eagle Ford. Lucas has been involved in several JVs, most notably its Marathon (MRO) agreement. When Marathon purchased Hilcorp, it also acquired its JV with Lucas. In September, Lucas signed an agreement to pay $22 million for Nordic Oil's acreage in Gonzales Karnes, and Wilson counties. Nordic Oil signed a letter of intent to purchase Lucas' New Mexico properties for four million in cash. In my opinion the purchasing of assets was good for both companies. I like Lucas as it has some very good acreage. Its acres have multiple pay zones, which could provide well spacing of 20 to 40 acres. I really like Lucas' prospects, it has pulled back significantly from its 52 week highs. It might be worth the risk at this valuation.
Lynden Energy (LVLEF.PK) is a play on the Permian and Paradox Basins. It has 15,500 acres in the Wolfberry. It has a 300,000 acre AMI (Area of Mutual Interest). Lynden expects to double its production in the Wolfberry to 450-500 Boe/d by year end. It has a 2011 cap ex of $18 million. Lynden estimates it will drill a total of 18 new Wolfberry wells this year. Its Mitchell Ranch Project encompasses 100,000 acres and a 300,000 acre AMI. Lynden has several reasons to be optimistic about its Mitchell Ranch and Wolfberry interests. Both have multiple pay zones. The Wolfberry is very consistent, while Mitchell Ranch could be a huge find with six possible conventional targets and one horizontal. Wells in the Permian Basin are generally inexpensive compared to other deeper shale plays such as the Bakken. Lynden has 85,000 acres in the Paradox Basin, which is a play on natural gas. I really like Lynden. This company has a huge amount of upside that I believe has not been figured into its valuation. If Mitchell Ranch is as good as Lynden estimates, this stock could easily triple.
This is a brief list of some very small oil and gas plays with acreage in the United States. These names are speculative so be very careful as these names could depreciate significantly in a short period of time. The pullback in many of the oil names has brought some of these smaller market caps back to a reasonable level. If you are an investor looking for risk, these names are worth a look.
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ethical oil problems over Saudi Arabia
12:56 AM
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ethical oil problems over Saudi Arabia
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In recent days, a ruckus has been kicked up over Saudi Arabia's apparent bid to quash TV ads that highlight that country's appalling treatment of women. I agree that Canadian regulators should protect the free-speech rights of the advertiser in question - a nonprofit group called EthicalOil.org. But the group's mission - to "encourage people, businesses and governments to choose Ethical Oil from Canada, its oil sands and other liberal democracies" - is pointless.
With some minor variations imposed by local oil chemistry, processing capacity and shipping costs, there is essentially a single market for oil in the world. Whatever oil Saudi Arabia or Canada (or Venezuela or Nigeria or Russia) produces will be bought by someone - every last drop of it. And it will be purchased at a price dictated by global supply and demand, not by the humanitarian whims of consumers. Oil isn't like coffee: You can't go to your gas station and insist on paying extra to have the organic, shadegrown, horizontally traded, women's-rights-protecting variety.
Even if Westerners tune in to the messaging at EthicalOil.org and then demand that their local gas stations purge all Saudi-origin content from their supply chain, there won't be a single Saudi Sheik who loses a nickel. China and about a hundred other countries (none of which care a whit about whether Saudi women can drive cars) will step in to buy that sweet Saudi crude. All the EthicalOil.org campaign will do is needle the Saudis and point out the massive hypocrisy of anti-tar sand protesters. These are worthy goals, but let's not pretend this will help Burka-imprisoned women in Riyadh.
If you want to hurt the Saudis, there is one thing you can do: Depress the global demand for oil by using less of it. Get out of your car and walk. Buy a Prius instead of an SUV. But these are steps that you'll never hear from oil sands-boosters - for reasons you can all figure out on your own
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Mbabazi's Oil Scandal Bribery Questionable Uganda
12:51 AM
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Mbabazi's Oil Scandal Bribery Questionable Uganda
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
ON September 14, one of Uganda's dailies ran the story implicating Amama Mbabazi in ENI oil bribery scandal. This follows the Wikileaks revelation. However, I have a different view basing on the hypocrisy and imperialistic tendencies of some western powers.
What is obscure is the failure by the bribe giver to shed light on the terms of the transaction. This makes the whole story a hoax orchestrated by external forces interested in Uganda's oil.
The US has made a firm grip on Africa's oil fields of Nigeria, Angola, Chad, Congo Brazzaville, Equatorial Guinea and Angola. Therefore, Uganda is targeted as the new entrant.
Some Western embassies in Uganda are probably playing a hypocritical tactic to penetrate Uganda's oil market. Amama Mbabazi's case is just a tip of an iceberg; we are yet to see more drama. Given the projection that by 2015 Africa will supply up to a quarter of the US domestic oil consumption, the US might be looking for the easiest means to undo powerful Ugandan leaders to protect its economic interests.
If the source of Wikileaks information is the US embassy in Uganda, then the embassy is using "strike the shepherd scatter the sheep" strategy in the new scramble for Uganda's oil. The recent Wikileaks whistle blowing could reflect the capitalists complex plan to turn Uganda into a commercial warren for hunting lucrative oil fields.
Amama Mbabazi is most likely used as a scapegoat for a bigger sub-conscious elimination plan.....more
why gold price down 22 sept 2011
10:49 PM
Unknown
why gold price down 22 sept 2011 : Spot gold slipped under the weight of a rallying US dollar, after falling more than 1 per cent in the previous session when the US Federal Reserve announced its plan to load up long-term securities and offered a grim economic outlook.
Warning of "significant" downside economic risks, the US central bank said it would launch a $US400 billion programme to shift its $US2.85 trillion balance sheet more heavily towards longer-term debt.
The decision disappointed investors who had hoped for stronger stimulus measures, prompting a slide in stocks and commodity prices.
The worries about the euro zone's debt crisis continue to support the safe haven appeal of gold, but momentum is lacking for bullion to march towards its record high above $US1,900.
"For the short term, gold is likely to remain in the range of $US1750 and $US1850," said Ong Yi Ling, an analyst at Phillip Futures.
"If we do see $US1700, that could potentially cause greater correction to $US1500."
Spot gold lost 0.4 per cent to $US1774.55 an ounce, extending a 1.2 per cent decline in the previous session.
The most-active US gold futures contract fell as much as 2 per cent to $US1772.5, before recovering to $US1777.30.
Technical indicators bode ill for gold prices. Spot gold prices could fall towards $US1730 during the day, said Reuters market analyst Wang Tao.
The dollar index rose to a seven-month high as investors piled into the greenback, lured by the appeal of short-term rates on US bonds after the Fed announcement.
A pricier dollar makes commodities denominated in the greenback more expensive to buy for holders of other currencies.
"Investors are buying the dollar and selling gold," said Ronald Leung, a dealer at Lee Cheong Gold Dealers in Hong Kong.
"But the physical supply is a bit tight, as Asian buyers stock up on physical gold."
Investors are shifting their attention to the Group of 20 talks, due to take place in Washington on Thursday and Friday, where Europe will be under heavy pressure to stem its deepening debt crisis.
Other precious metals also weakened amid a commodity-wide slide. Spot palladium dropped to a 10-month low of $US681.5, tracking a price drop in gold as well as industrial metals.
Spot platinum dipped to a six-week low $US1748.50, before recovering to $US1750.00.
China's factory sector contracted for a third consecutive month in September as flagging overseas demand put the brakes on new orders, HSBC's China Flash PMI data showed.
Slower growth in the world's top commodity consumer could add to pressure on prices of silver, platinum and palladium, which have wide industrial applications.original post by theage.com.au
will euro zone's debt crisis continue, Spot platinum 22 sept 2011, gold prices 22 sept 2011, spot gold prices 22 sept 2011, Spot palladium 22 sept 2011
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Gold, Silver,International Forecaster September 2011
9:40 PM
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Gold, Silver,International Forecaster September 2011
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
US MARKETS
One of the greatest detriments to job creation in the US is the overseas income deferral law. This unbelievable gift to transnational corporations is at the heart of free trade, globalization, offshoring and outsourcing. Presently these corporations are sitting on $2.2 trillion in untaxed profits, which is costing the American taxpayer almost $800 billion in lost tax revenue if like in 2006 they are allowed to bring the funds back at 5-1/4% taxation. Those conglomerates want to bring those funds back into the US tax free, which means $1 trillion in lost taxes, taking advantage of the current financial situation in the US. Five years ago Congress passed legislation allowing $350 billion to be returned to the US at 5-1/4% taxation, not the normal 35%, because these corporations said they would use the funds to create jobs. Very few jobs were created and a large part of the funds were used to purchase company stock, which rose in value, allowing the officers of these corporations to sell stock from options and make billions of dollars in profit for themselves. These are the same corporations that have been responsible for the loss of 11.7 million jobs, the loss of good paying jobs 450,000 American companies and the loss of hundreds of billions of dollars in tax revenue. These corporations are responsible for the heart of American manufacturing being ripped out of America. It over time has spread as well into service and professional industries.
There was a secret meeting on December 24, 2010 with the president in the White House where these pressured Congress and the White House to exempt overseas corporate profits from taxation. It is our opinion that a continuation of such a policy would deprive the US of badly needed taxation. A cessation of present policy would as well help to stem the flow of jobs out of the country. This change would stop the flow of businesses leaving the US and would cause some companies to return to the US.
This policy in place is known as territorial taxation. US companies would be taxed only by the country where the funds are earned. Currently, offshore, almost all these companies are headquartered in tax havens, such as the Cayman Islands, which have no corporate taxation. Presently they put off taxation indefinitely. This law is unbelievable abusive to the American people and should be repealed forcing these entities to return all funds to the US for taxation. That would totally fund stimulus 3.
The present administration is in the back pocket of these conglomerates and the present president is supposedly considering a limited version of such taxation. The plan is currently a secret. The multinationals want to delay any kind of legislation indefinitely. These companies are pushing for general tax reform that might not come for years. The current enabling group, also known as the Super Committee, or the Super Congress, won’t act on it until they have cut the budget deficit and butchered Social Security and Medicare.
Today we see a stampede of American corporations moving offshore to take advantage of current law. They hope that even if the system is changed that they will get a better tax deal than they have now. As you can see they could care less about being good American corporate citizens, or good fellow Americans. Not only do these malefactors avoid taxation, but also they are responsible for worsening unemployment. Allowing such a travesty to continue is certainly un-American and detrimental to the future of America.
In coming full circle on the issue it would be most easily be settled by having these transnational conglomerates pay the same taxes, as domestic corporations and to re-impose tariffs on goods and services, a system that worked for the US for 210 years and created a level playing field. What we have experienced is absurd and is a travesty that is destroying America as we have known it.
We see no light at the end of the tunnel. All we get is lies and platitudes and more misdirection and propaganda. The beginning of the beginning of the end of the US and world banking system began three years ago. It was deliberate and presently the timetable is being stretched out, because of the many flaws in their original plans. In the European Union the failures were: failure to get a Constitution in place prior to the euro, the imposition in the Maastricht Treaty of public debt not to exceed 3% of GDP, which was obviously unattainable and one interest rate fits all. We pointed out these shortcomings 13 years ago, but as usual no one was listening. You are all familiar with the historical events that have taken place in the US. The myriad secret and public bailouts, much of which have yet to be disclosed, although the GAO has another report coming in December. Then there was two years ago the beginning of official criminal bookkeeping when the government, the BIS and the FASB approved corporations using two sets of books. If you were to do that you would go to jail. As you can see there are no rules anymore and within that legal structure there are two sets of rules. One for the insiders and one for us.
Conditions being what they are it is no surprise that gold and silver are moving higher in spite of market manipulation by the US government and others. The failure of all currencies vs. gold and silver continue in an orgy of debasement, except for the volatility caused by market manipulation the prices still move higher. Those who in the past have procrastinated have paid a dear price and have not protected their wealth. It is still not too late to join in with the world’ most sophisticated investors. We are in phase 2 of 4 or 5 stages of one of the greatest bull markets in history.
This past week in Warsaw, Poland we were treated to another bailout via loans and swaps. We know the swaps were for $500 billion. We are waiting for the details on the loans, which are supposed to be for 45 days. Europe has a dollar shortage because investors have been pulling their deposits out of European banks. We are sure more information will be forthcoming. Just prior and during this episode world stock markets were again run up as gold was hit for $135, and silver for $3.00. The manipulation by corporatist fascist governments continues. The powers that be have probably bought time through the end of the year, unless the German Bundestag votes against more loans for Greece and others. This latest act of desperation does not solve the situation; it only buys time. In the meantime austerity is hard to come by in countries where it is needed. The population is fighting back and will continue to do so indefinitely. The reaction varies from country, but it isn’t going to go away. Greece is a good example with demonstrations everyday in protest of austerity measure, increased taxes, lower wages and the sale of their country out from under them to bankers and others. The system in Europe, the US and UK is not going to improve anytime soon and gold and silver will continue to rise in price. For the past 20 years in varying degrees the ability of these nations to recover is questionable. Their industrial bases have been shipped to the second and third worlds and that asset stripping continues apace. Hurt the most is the US followed by the UK and then Europe. Most of this capacity has been shipped to Asia and a lesser part to Latin America. This shift or stripping has crippled the ability of these nations in trouble to pay back debt or to recover. What you are witnessing is an exercise in desperation and futility. It is not possible that they can recover without tariffs on goods and services.
As a result of European banking problems and forced de-leveraging the players found that the rally provided by the bank bailout by the Fed, BofE, BofJ and the SNB was a shock to those on the short side of the market. Albeit temporary contracts expired and losses had to be taken. Even those short gold and silver shares were surprised as they rallied strongly from a long oversold position. Government continues to spend billions to knock down gold, silver and the shares as soon as pressure is exhausted these irrespective of what government does investments come roaring back, thus, one should expect irrespective of what government does that these investments are in a new mode of resilience that cannot easily be dispelled. The pros know all these market mini-rallies are the result of government policies of flooding money and credit into the system, or by direct intervention. Those who have figured out what government is doing are making a fortune. Those who do not get it are paying the price. The next thing to pay attention to is the plight of sovereign nations and their debt. Yes, banks are in liquidity shortage in Europe and so are countries. That was three years ago but the plight of countries is far worse in Europe this time. They have gotten a temporary reprieve, but this does not solve the problem.
All it takes is common sense to realize financial and economic things are going to get worse. All central banks are doing is continually debasing their currencies. That does not solve the problems, leads to higher inflation and higher gold and silver prices. We got involved in gold and silver in 1959, because we could see by what the Fed and government were doing that the monetary system that holds the western world together was being broken. This meant that eventually gold and silver would have to move higher. We were correct and it has moved higher over the years. In fact, the battle has become acrimonious within countries as bailouts become larger and more numerous. Deficits are never reduced; they are just increased. Some believe gold and silver are over priced. This is the same group that said the same things about silver when it was at lower prices, as well as gold. Politicians, Wall Street and banking thought that debt extension of $16.7 trillion would carry them through the next election. They were wrong and we believe it won’t carry them through the next election. They were wrong and we believe they will need $1 to $2 trillion more before November 2012. In Europe a number of failures are just over the horizon. There is no letup in the accumulation of debt in the US, UK and Europe. The sectors are enraptured with the creation of money and credit to solve their ills. This is the only avenue left open and they fully admit it. None of the governments understand that if you have austerity an economy cannot grow. Sooner or later the world’s stock markets will fall. What will they do then? Can they have zero interest rates indefinitely? We do not think so. The real estate market is nowhere near recovery. We have banks being accused of fraud; that is novel. The crooks usually get away with it.
Whether you like it or not gold will soon be over $2,000. Banks are very short both gold and silver, and are in danger of insolvency once gold and silver rise higher. Three weeks ago gold and silver shares finally came under accumulation by institutions and we see that continuing simply because the shares have been oversold for so long. We expect these shares to return to their former status, not at 20 or 30 times earnings, but at 150 times earnings.
That will happen in time. One of the really compelling conditions is the commercial net short position in silver that continues to increase. Since early July some 2-1/2 months ago the cash market in silver has been up about $8.00 or almost 24%. During that period commercial traders have increased their net contracts by some 18,000, obviously in an effort to protect previous short positions. That is about a 62% increase. At sometime in the future they have to cover and that is not going to be easy or painless. If the recent past is any example short covering will come with higher prices. As you can see there is still a titanic struggle in motion in particularly the silver market, which we see being resolved to the upside. Not only the status of monetary metals aid silver and gold, but this is the inflation factor caused by the massive usage of money and credit and also the fiscal and monetary turmoil in the US, UK and Europe. In Europe it has been two years and the Greek bailout situation has not been solved, nor has the financial aid needed to assist the other five borderline bankrupts. Later next week the German Bundestag will decide whether there will be any more bailouts, which the German voters are strongly against. A pro bailout vote by Congress could lead to demonstrations, rioting and perhaps more. In the more than 55 years we have known the German people we have never seen them more incensed. As you can see the prices in gold and silver have a lot going for them and that is why they will move higher, sweeping all opposition aside. This has been our contention since June 2000 and it will continue to be so.
RESOURCES :http://news.goldseek.com/InternationalForecaster
Gold Options Report – September 21, 2011
9:34 PM
Unknown
Gold Options Report – September 21, 2011
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
Market Recap:
After two days of suspense, the Federal Open Market Committee concluded its meeting much as expected:
To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee decided today to extend the average maturity of its holdings of securities. The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative.
If anything, the market may have been disappointed that the Federal Reserve didn’t go far enough, with the dollar rallying and equities selling off in the immediate aftermath. Absent further hints of a QE3, investors will return their focus to the specter of a Greek default, and the faltering economic indicators out of the U.S. Today’s existing-home sales were a welcome surprise however, rising from a seasonally-adjusted 4.67 million homes in July to 5.03 million in August.
Gold traded unchanged most of the day before selling off the in the wake of the FOMC press release this afternoon. While options were sold ahead of the new, most notable the October 1850 Call and December 1850 straddle, the full effect of the selling didn’t really resolve itself until after the meeting. Volatility was lower on the day and continued to contract going into the Globex close.
Gold Price Indonesia On Rupiah
9:28 PM
Unknown
Gold Price Indonesia On Rupiah
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
10 year Spot Gold History in Indonesian Rupiah per Ounce.^Top
15 year Spot Gold History in Indonesian Rupiah per Ounce
Gold Bullion in Dubai Buy Online, Secure and Insured
9:21 PM
Unknown
Gold Bullion in Dubai Buy Online, Secure and Insured
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.
DGCX is an initiative of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and the Multi Commodity Exchange of India Limited (MCX). The Management team of DGCX comprises senior personnel from the commodities, securities and financial services industries bringing a wealth of experience and expertise to ensure the success of DGCX.
Benefits of Trading on DGCX
Our range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset class of commodity and currency derivative ..... READ MORE
Gold prices new today
9:08 PM
Unknown
Gold prices new today
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Iraqi Dinar-a golden investment opportunity, A smart Investment, Significant Suggestions While Buying
11:00 PM
Unknown
Iraqi Dinar-a golden investment opportunity, A smart Investment, Significant Suggestions While Buying
mines,gold,silver,oil,gazz,coal,prices,market,asia, europa,america,africa
Millions of people think Dinar Iraqi as a great investment opportunity. They think Iraqi dinar as a golden chance, by availing which they can become rich. No doubt Iraqi dinar is future investment but it seems more propaganda than the reality. The few dealers want to convey that Iraqi dinar will make you rich with in night or with in 24 hours but its all fake. Dealers just want to blow up the fake value of Iraqi dinar.
These dealers collaborate to cascade the market with guarantees of getting rich! Even, you will find the top sites that are owned by the dealers of Iraqi dinar who will say you that Iraqi dinar is going to regain its value with in few days. But we should observe that what is reality; at the moment, $1 is 1169, you can purchase a millions of Iraqi Dinar (depends upon on the size of currency notes) for just $1000 and the dream that the Iraqi Dinar will become eventually the same in the value as a US dollar. No doubt Iraq will regain its back position but it a long term process not the matter of day!
Purchase of Iraqi dinars is growing in popularity within many global stock markets. A number of investors worldwide have converted various sums of money into dinar with hopes how the value of the new currency will appreciate down the road. There are numerous of sites that claim committing to Iraqi dinar is often an once a lifetime investment and definately will quickly pay the balance of large dividends. However, the wise investor should be more cautious and thoroughly consider each of such a commitment. Given days gone by record of other currencies- just like the German mark after Ww2 and the Kuwaiti dinar following the Gulf War- it may be best if you take a closer look on the Iraqi dinar and learn if this will be a beneficial addition to your financial portfolio. However, products or services strategy, it’s always best to study the potential risks and overall factors that might affect ignore the.
The bigger level of current curiosity about buying the currency centers around the large disparity from the present exchange rate- for each US dollar you’ll be able to currently defeat 1000 Iraqi dinars. If the economy will continue to improve, the need for each dinar will increase significantly, making the first buy a bargain. Because the vast oil reserves, natural resources, and centralized geographic location in Iraqi, an upturn in political stability and foreign investments may make the Iraqi economy one of several strongest in the neighborhood.
Here are a couple items to consider before getting the Iraqi dinar:
- Become informed about the economic and political situation in Iraq, for trends in security and flow of foreign capital to the country have a dramatic influence on the general strength on the dinar.
- You may want to keep track of the increase or fall inside the Iraqi dinar market yourself, which is not dealt inside the foreign exchange market. However, this is certainly an easy task to do via the internet with helpful tools for instance RSS news feeds added onto your browser homepage or through touching a registered firm experienced with getting the currency market.
- Advice about the security features for the new dinars make certain that you simply contend with reputable brokers who’ll present you with authentic Iraqi dinars.
- It’s not necassary to expect immediate gigantic returns. Returns in all financial markets might take months or even years, but could be very lucrative in the end. Be skeptical of a typical investment scheme that promises huge profits within short periods. For the reason that recent widely-publicized Ponzi schemes clearly demonstrate, whether or not it sounds too good to be true, it can be.
If you are a wise investment inside the Iraqi dinar, it can be advised that you just approach a reliable and authentic broker that is definitely registered with the US Treasury Department together with the Bbb (BBB). It are often good to look for a dealer who both buys and sells the notes. For those who decided to market it, this course may make sure that you receive a fair rate of exchange.
Buy the Iraqi Dinar as
A lot of people ask, why put money into the Iraqi Dinar the immediate answer is as in the question for investment purposes you are able to Sell Iraqi Dinar when you think its profitable to offer them us can advertise them and acquire profit.
These are some important things, one should keep in its mind while buying Iraqi Dinar:
The most convenient and common way to purchase Iraqi dinar is by means of online portals. There are numerous sites by means of which you can purchase the Iraqi dinar to make Iraqi dinar investment. But, selecting the appropriate website is important aspect to keep in mind. Landing into a site that is scam and involved in frauds is extremely dangerous. It can produce exceptional irritations for you needlessly.
If you want to buy Iraqi dinar online, it is an ideal choice to seek the well reputed Iraqi dinar dealer to buy Iraqi dinar online. You will find countless such Iraqi dinar dealers who will try to motivate you with their sweet talks and sugar-coated expressions. From a lot of, you have to choose the genuine and authentic Iraqi dinar dealer from whom you can purchase Iraqi dinar or invest in Iraqi dinar with out any problem.
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