Alexander Says Thank You

Thank you for your pledge for me for the Relay for Life! We are getting really excited about this years Relay and our event in Alliston which is only two weeks away! Our original goal as a team was to collect $1,000 in pledges but we have just now passed the $3,000 mark!!!

If you want to follow our progress, you can check my personal page or click on the link below for the team link (Watchurst Basement Dwellers). My Mom will probably let you know on facebook how we are doing as the days come closer and right after the Relay.

Thanks again for your donation. I know we are making a difference together in the fight against cancer.

Alexander

Click here to visit my personal page.
If the text above does not appear as a clickable link, you can visit the web address:
http://convio.cancer.ca/site/TR/RelayForLife/RFL_ON_Alliston_?px=1962521&pg=personal&fr_id=3300&fl=en_CA&et=Z5pwChciiob6pb1kEzrg7g..&s_tafId=107850

Globe says Talisman a bargain now, but not for long

Wednesday, May 20, 2009

Presented by

Talisman discovers gas field in Colombia

Financial Post 

 

Handout photo

TORONTO -- Talisman Energy Inc. said Wednesday it has made a what it calls a "significant" discovery of natural gas condensate in the Andes foothills in Colombia.

The Huron-1 well located in the Niscota Block was spudded in June last year and has been drilled to a current depth of 18,275 feet in a heavily faulted area and encountered several reservoirs, the company said.

The discovery was made by Talisman (Colombia) Oil & Gas Ltd., a wholly owned subsidiary of Calgary-based Talisman. The field is 300 kilometres north east of Bogota.

Talisman, which holds a 30% interest in the Niscota Block, said one reservoir was tested at 3,400 barrels per day of gas condensate.

The well is being deepened to complete the evaluation of the prospective section, with further logging and testing is planned, the company said.

Talisman Energy shares closed at $16.95 Tuesday on the Toronto Stock Exchange.

© 2009 The National Post Company. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.

TLM-T Talisman Energy
Inc. Energy 17.7140.5 Lynch Notes: Calgary-based Talisman is a energy company with interests in the UK, Scandinavia Southeast Asia and North America. Another Peter Lynch choice, Talisman gets points for being a fast grower. The PEG ratio is low at 0.12 and the 32.84-per-cent debt/equity ratio is solid.

Hunting for bargains

Hunting for bargains Lou Schizas Friday, May 29, 2009

Dear Lou,

It looks like a dead cat bounce and I wondered what you thought about the “go away in May’ strategy. My savings have recovered somewhat but I was considering picking some proven money maker stocks like Johnson & Johnson and Kraft ?etc.and let go some mutuals containing US equities and possibly trading money market funds for actual bank shares ?Toronto-Dominion , Royal Bank and Bank of Montreal . Any thoughts ? I’m 54 and counting and don’t want another Oct 8th wake up call?love the show on AM640?appreciate the input.

Sincerely,

Doug

----------

Hi Doug,

I think you have identified a solid strategy. Buy great companies when they are cheap. Johnson & Johnson and Kraft foods are both off of their highs and paying an attractive dividend. JNJ pays 3.6 per cent while KFT offers a 4.5 per cent dividend yield. But lets not forget that they are both U.S. equities, which you were thinking of trimming from your portfolio.

Given that both companies have international operations that will shield them somewhat from the travails of the U.S. economy, you still have to reconcile the fact that the major part of their business comes from the U.S. The idea of moving your capital out of the U.S. isn’t a bad one given that it appears that Canada is better positioned to weather the current storm.

Moving out of cash and into Canadian bank stocks is another example of looking for solid companies at low prices. All of the banks have been lifted by the rally that started on March 9 and yet still offer attractive dividends. The Bank of Montreal dividend offers a 6.7 per cent yield which given the tax treatment of dividends only makes it sweeter.

When it comes to being 54 and not wanting another wake up call I would say that you might have to reconsider your investment profile. It sounds like you have become more risk averse and need to start moving more of your assets into lower risk categories that reflect your concerns.

As far as applying the “sell in May and go away” strategy I think that you are wise to be aware of seasonality that effects certain sectors but you are best served reviewing the charts of the stocks that you own on a regular basis. A regular review will give you a better handle on how your investments are performing.

Happy Capitalism!

Lou Schizas

Talisman could split in two

Talisman could split in two

by Peter Koven

Energy, natural gas, Talisman Energy

Unconventional natural gas deposits were the dominant theme at Talisman Energy Inc.'s investor day, and UBS Securities analyst Andrew Potter wrote that the company's next big move could be an acquisition in that area, and ultimately a split into two companies to capture a higher valuation for the unconventional assets.

"The strategy introduced last year of focusing on unconventional gas as a major growth driver has panned out far greater than we expected, both in terms of amount of resource but also the economic viability of that resource," Mr. Potter wrote in a note.

He added that it will take some time for the unconventional gas to deliver aggregate growth to the company, since growth in unconventionals will be mitigated by declines in conventionals. But he expects the unconventionals to become self-financing in 2010 in a US$7/mcf pricing environment.

At that stage, he thinks Talisman will consider separating its North American business (which is heavily focused on unconventional gas) from its international business, if the market has not rewarded the company with a "reasonable" valuation.

"We believe [Talisman's] North American gas assets would ultimately attract a competitive valuation with other large-cap gas plays given its top-tier resource size and economics," Mr. Potter wrote.

He reiterated a "buy" rating on the stock, and increased his target 15% to $23 a share. He noted that Talisman still trades at a discount to its large-cap peers, and a re-rating is likely as the market gains confidence in Talisman as "a credible unconventional gas story."

Peter Koven

Oil above US$65 Friday on brighter outlook

Friday, May 29, 2009

Presented by

Oil above US$65 Friday on brighter outlook

Reuters 

LONDON -- Oil rose above US$65 a barrel on Friday, on track for its largest monthly%age gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.

Oil prices have jumped around 28% this month, buoyed by expectations of a global economic recovery later this year and a bullish price outlook from key OPEC member Saudi Arabia.

U.S. crude oil for July delivery was up 20 cents at US$65.28 per barrel by 3:26 a.m. EDT, after earlier hitting a six-month high of US$65.70.

The contract, which has risen about 5% this week, settled up 2.6% at US$65.08 on Thursday, the highest close since early November.

London Brent crude gained 20 cents to US$64.59.

"The market seems to be focusing strongly on the bullish sentiment and the brighter macro-economic outlook, but it's a little doubtful whether the demand fundamentals can continue to support oil prices at such levels," said David Moore, a commodities analyst at the Commonwealth Bank of Australia.

Data on Friday showed Japanese industrial production rose 5.2% in April on a monthly basis, and the government said it expected continued gains through June.

Better U.S. durable goods orders figures on Thursday also reinforced the sense that the global economic slump might be abating, despite a disappointing U.S. home sales report and lingering concerns over mounting Western government debt.

U.S. INVENTORIES

Another bright spot was U.S. crude oil stocks, which fell by 5.4 million barrels in the week to May 22, the U.S. Energy Administration said, way above analysts' expectations in a Reuters poll for a 700,000 barrel decline, as refiners ramped up output ahead of the summer driving season.

Gasoline inventories also dropped for the fifth week in a row as demand rose in the week preceding the Memorial Day holiday, which traditionally marks the start of the summer driving season in the U.S.

OPEC's decision to hold oil production steady also helped prop up prices.

The producer group on Thursday kept its output targets unchanged as the market had expected, betting on a strengthening world economy and tentative signs of increased demand.

Analysts said Saudi Arabia's rare forecast this week that oil prices could reach US$75 a barrel later this year represented a policy shift from the world's largest oil producer, which has until recently hinted it would be happy with a lower price to help the world economy back on its feet.

"Taken in this light, Saudi's statement clearly represents a policy shift from a priority on the economy to a view that higher prices are not something that Saudi Arabia will stand in the way of," JP Morgan analyst Lawrence Eagles said in a note.

Investors will be keeping a close watch on economic data due later, including U.S. first-quarter preliminary GDP figures and Reuters/University of Michigan May consumer sentiment.

© Thomson Reuters 2009

Did You Make Cash Today On CLL? - Give A Little To Cancer!

The Blogger says...


"Cancer has taken my mother and my younger sister and it seems that every family is hit by this dreaded disease. Take some of those gains in the market in the last 10 weeks and help Cancer be beaten!


Alexander is my nephew, he is proof that Cancer can be beaten. Please make a small pledge to help him reach his goal this year!"






I am a survivor of acute lymphocytic leukemia. I was diagnosed with cancer when I was 2 1/2 and fought for 3 full years. I am now 16 and I have seen the reaches of cancer. It does not target the young or the old, the poor or the rich. It targets so many different people.

It's targeted my friends and family. I've seen it tear people apart leaving them in a state where you feel you could have no hope, but the thing is, as long as people are working and helping to find a cure there will always be hope.

Please pledge me and help make cancer history.

I am walking in this relay for people I love, people I miss, and people who I don't even know. To the people who have inspired me, thank you, now let's make cancer history!

Online pledging is secure and it saves the Society money by reducing administrative costs.

Thanks for your support!

Alexander

Click Here To Make A Pledge Online

Bankers raises extra $4-million through overallotment

Bankers raises extra $4-million through overallotment

2009-05-25 08:14 ET - News Release

Mr. Abby Badwi reports

BANKERS PETROLEUM RAISES AN ADDITIONAL $4 MILLION THROUGH THE EXERCISE OF THE UNDERWRITERS OVER-ALLOTMENT OPTION

In connection with Bankers Petroleum Ltd.'s recently closed $40-million bought deal equity financing, the underwriters have fully exercised their overallotment option for an additional 2,285,800 common shares at a price of $1.75 per common share for total gross proceeds of $4,000,150. In total, the company raised $44,001,650 from the offering and the net proceeds will be used for the company's production and development activities at its Patos Marinza and Kucova oil fields in Albania, and for general corporate purposes.

The offering was co-led by Canaccord Capital Corporation and Thomas Weisel Partners Canada Inc. and included Macquarie Capital Markets Canada Ltd., BMO Nesbitt Burns Inc., Genuity Capital Markets, Tristone Capital Inc. and Raymond James Ltd.

Application has been made for the 2,258,000 common shares subject to the overallotment option, to be admitted to trading on the AIM Market of the London Stock Exchange and admission is expected to occur on June 1, 2009.

Subsequent to this transaction, the company has 207,798,605 common shares outstanding, 10,587,392 options to purchase common shares and 25,713,376 common share purchase warrants.

We seek Safe Harbor.

CLL Will Run Up Soon - Look At The Bids-Huge!

Connacher Oil and Gas Ltd. has priced its previously announced public offering of common shares. Pursuant to the offering, the corporation will issue 166.75 million common shares at a price of 90 cents per common share. 

The offering will be conducted through a syndicate of underwriters with RBC Capital Markets as sole bookrunner and co-lead manager, together with Credit Suisse Securities (Canada), Inc. and TD Securities Inc. as the other co-lead managers, and Scotia Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. 

Pursuant to the terms of the offering, the corporation has agreed to grant the underwriters an overallotment option to purchase up to an additional 25,012,500 common shares, equal to up to 15 per cent of the common shares sold pursuant to the offering, exercisable at any time, in whole or in part, up to 30 days from the closing of the offering. If the overallotment option is exercised in full, a total of 191,762,500 common shares will be sold under the offering for total gross proceeds of the offering of approximately $172,586,250. Upon closing of the offering, and not including common shares issuable pursuant to the overallotment option, the corporation will have 378,450,942 common shares (418,892,957 common shares on a fully diluted basis) issued and outstanding.

Alexander needs your help to beat Cancer

The Blogger says...


"Cancer has taken my mother and my younger sister and it seems that every family is hit by this dreaded disease. Take some of those gains in the market in the last 10 weeks and help Cancer be beaten!


Alexander is my nephew, he is proof that Cancer can be beaten. Please make a small pledge to help him reach his goal this year!"







I am a survivor of acute lymphocytic leukemia. I was diagnosed with cancer when I was 2 1/2 and fought for 3 full years. I am now 16 and I have seen the reaches of cancer. It does not target the young or the old, the poor or the rich. It targets so many different people.

It's targeted my friends and family. I've seen it tear people apart leaving them in a state where you feel you could have no hope, but the thing is, as long as people are working and helping to find a cure there will always be hope.

Please pledge me and help make cancer history.

I am walking in this relay for people I love, people I miss, and people who I don't even know. To the people who have inspired me, thank you, now let's make cancer history!

Online pledging is secure and it saves the Society money by reducing administrative costs.

Thanks for your support!

Alexander

Click Here To Make A Pledge Online

CLL Will Run Up On This News

Look At The Bidders 1-2 Million Shares Wanted

Connacher announces pricing of equity offering
08:26 EDT Wednesday, May 27, 2009

CALGARY, May 27 /CNW/ - Connacher Oil and Gas Limited (the "Corporation" or "Connacher" - CLL - TSX) is pleased to announce that it has priced its previously announced public offering (the "Offering") of common shares (the "Common Shares"). Pursuant to the Offering, the Corporation will issue 166,750,000 Common Shares at a price of $0.90 per Common Share.

The Offering will be conducted through a syndicate of underwriters with RBC Capital Markets as sole bookrunner and co-lead manager, together with Credit Suisse Securities (Canada), Inc. and TD Securities Inc. as the other co-lead managers and Scotia Capital Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (the "Underwriters").

Pursuant to the terms of the Offering, the Corporation has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 25,012,500 Common Shares, equal to up to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering.

If the over-allotment option is exercised in full, a total of 191,762,500 Common Shares will be sold under the Offering for total gross proceeds of the Offering of approximately $172,586,250.

Upon closing of the Offering, and not including Common Shares issuable pursuant to the over-allotment option, the Corporation will have 378,450,942 Common Shares (418,892,957 Common Shares on a fully diluted basis) issued and outstanding.

Source

Ursa Major, Canadian Arrow explore merger this will triple on this Merger

Bids Building

Throw Some Cash At This and Triple In 45 Days

Ursa Major, Canadian Arrow explore merger


00:00 EDT Tuesday, May 26, 2009

Canadian Arrow Mines Ltd. CRO-X and Ursa Major Minerals Inc. UMJ-T are considering a strategic merger that would lead to the creation of a mid-tier nickel producer in Ontario. The companies said yesterday they envision an equity swap that would have Ursa Major buy Canadian Arrow. The combined company's board would have three members nominated by Ursa Major and two by Canadian Arrow. Representatives of the two companies would also hold senior management positions. Ursa chief executive Richard Sutcliffe would be chairman of the board and CEO of the combined company while Canadian Arrow president Kim Tyler would be president and chief operating officer. The combined company would have reserves and resources containing an estimated 200 million pounds of nickel, plus significant copper and precious metal byproducts. Ursa Major shares haven't traded since May 21, when they closed at 14 cents on the Toronto Stock Exchange. CRO (TSXV) rose 1¢ to 7¢.

- This company has connections to very well funded mining operations through decades of experience. I believe Mr. Tyler when he says they are speaking with 5 strategic partners for completion of there project through joint ventures. Joint venture speculation could drive our sp into a frenzy.

- The drill program which comprised our 253 million dollar property is open at depth and further drilling could significantly increase the resource. Some of our strongest results were on outer edges of the drill zone. De-watering of the 2500 meter mine shaft will allow them to get at these areas. The intersection I speak of is the 7% nickel over 5 meters that intersection comes from the end of the drill core. Further exploration could offer up amazing results. 0 summer 2008 drill results out, any significant finds in mine ready atikocan or kenora/dryden properties will lift stock.

- The company has contractual agreements with Opiwica explorations (OPW) on the TSX.V to mill there major gold and copper find with in close proximity of Canadian Arrows Planned site. Mining could begin on both projects in early 2010. This represents earnings and is a good partnership for a company seeking to be the next significant Nickel Copper producer in Canada.

- Canadian Arrow has the ability to produce nickel in its mine at 3.47 per pound nickel. That kind of number is unheard of in comparison to other mines. With production scheduled for early 2010 (around the same time our economy should be significantly rebounding) what if nickel prices return back to 15 dollars per pound? This site will look like a gem to any investor! (plus the property would be worth about 400mil at 15 dollars per pound nickel.

This is just a few of the key points that I believe make this company look attractive. If my predictions are correct we will see a significant rebound to normal multiples over the course of the next couple of months and with any significant news pertaining to my points and our sp and volume will be sent soaring. JV with cash on the books and abilitiy to help put project into production will send our sp back to .50 if not higher! I am Bull on Canadian Arrow mines.

Source

Review This .pdf 12 page report:

http://www.chfir.com/CRO_Valuation/CRO_ValuationReport.pdf

Opti Canada momentum appears to be reversing

Opti Canada momentum appears to be reversing


Lou Schizas
Friday, May 22, 2009

Hi Lou,

I check on to tour the site daily. As usual it is very interesting and informative. Keep up the great work. I wanted to get your opinion on Opti Canada . Would this be a good time to buy Opti for the long run. They are partners with Nexen and rumoured to possibly be bought out.

Thank-you,

Steve

---

Hi Steve,

Opti Canada has been on fire since March 09,2009 when it traded around 61 cents. Opti is a story of a marathon runner hitting the wall at the 24th mile and having to dig deep to finish the race.

Opti has a 35 per cent non operating interest in the Long Lake Oil Sands project which is experiencing a drag in production start up. Nexen is the major partner and operator with a 65 per cent interest. Opti sold a 15 per cent stake in the project to Nexen in December of 2008 for $735 million to raise cash.

Opti has $1.75 billion in long term debt due in 2014 and needs to meet another cash call by September 30, 2009 to satisfy covenents of its $350 million line of credit.

Thats the financial risk. The reward is a 35 per cent interest in a 2.2 billion barrel reserve which when the project is fully operational will yield 20,000 barrels a day of black gold.

There is also operational risk. The problem in the start up has been attributed in water handling but some of the rumours suggest that there are problems with the reservoir. The Long Lake project has taken longer than forecast and also had to carry higher cost.opc

The chart indicates a stock that got a good lift from the market rally and a further push on takeover speculation. The RSI indicates that the stock got overbought and has pulled back. MACD is also signalling a reversal.


If you are going to enter a position you want to confirm support at $3.00 if it doesnt hold there $2.50 offers support. The current chart seems to be forming a double top which is a reversal pattern which after a run from 61 cents it wouldnt come as a big surprise if some investors are going to take some cash off the table.

Happy Capitalism!

Lou Schizas

Have your own question for Lou? 

Visit his website

Alexander needs your help

The Blogger says...

"Cancer has taken my mother and my younger sister and it seems that every family is hit by this dreaded disease.  Take some of those gains in the market in the last 10 weeks and help Cancer be beaten!

Alexander is my nephew, he is proof that Cancer can be beaten. Please make a small pledge to help him reach his goal this year!"

I am a survivor of acute lymphocytic leukemia. I was diagnosed with cancer when I was 2 1/2 and fought for 3 full years. I am now 16 and I have seen the reaches of cancer. It does not target the young or the old, the poor or the rich. It targets so many different people.

It's targeted my friends and family. I've seen it tear people apart leaving them in a state where you feel you could have no hope, but the thing is, as long as people are working and helping to find a cure there will always be hope.

Please pledge me and help make cancer history.

I am walking in this relay for people I love, people I miss, and people who I don't even know. To the people who have inspired me, thank you, now let's make cancer history!

Online pledging is secure and it saves the Society money by reducing administrative costs.

Thanks for your support!

Alexander

Click Here To Make A Pledge Online 

The TSX Today and Pescod Speaks...

This from the Globe:

Bullish investors were hoping that a day like today would roll around soon - a day in which economic data not only exceed expectations, but crush them.

 After a disappointing start on Tuesday following the release of the S&P/Case-Shiller home price index, the Conference Board released its consumer confidence index for May. Economists had expected a small step in the right direction, but what they got was a great leap: The index rose to 54.9 from 39.2.

 With glimpses of a robust consumer in their minds, investors jumped at stocks minutes after the index reading was released. The Dow Jones industrial average closed at 8473.49, up 196.17 points or 2.4 per cent. The broader S&P 500 closed at 910.33, up 23.33 points or 2.6 per cent.

 It was the first gain for U.S. stock market indexes in five trading days and the second biggest upward move since major indexes stalled after hitting a rebound-high on May 8. However, the S&P 500 remains 2 per cent below its May 8 high.

 Of course, improving consumer confidence might translate into more consumer spending, so it should come as no surprise to hear that stocks directly tied to discretionary spending enjoyed some of the biggest gains. American Express Co. rose 5 per cent, Home Depot Inc. rose 4.1 per cent and Walt Disney Co. rose 3.5 per cent.

 Meanwhile, who needs steady performers like Coca-Cola Co.? The defensive stock was one of two stocks in the 30-member Dow to end the day lower, falling 0.2 per cent. (Bank of America Corp. was the other, falling 0.8 per cent, even as JPMorgan Chase & Co. rose 6.2 per cent.)

 In Canada, the S&P/TSX composite index closed at 10,285.90, up 216.4 points or 2.2 per cent.

 Financials were the biggest movers, after Bank of Montreal reported second quarter results that topped analysts' expectations after certain one-time items were excluded. BMO rose 5.2 per cent, Toronto-Dominion Bank rose 6 per cent and Bank of Nova Scotia rose 5.5 per cent.

 Research In Motion Ltd. was also a big mover, rising 5 per cent.

 Commodity producers were mixed. Suncor Energy Inc. rose 2.7 per cent and EnCana Corp. rose 1.5 per cent, but Canadian Oil Sands Trust fell 1.3 per cent after the price of crude oil rose to $62.45 (U.S.) a barrel, up 78 cents. As well, Barrick Gold Corp. fell 3.7 per cent after the price of gold fell to $953.30 an ounce, down $5.60.

Copyright 2001 The Globe and Mail

Merger Cro and Ursa Major Minerals Pending

Ursa Major, Canadian Arrow explore merger


00:00 EDT Tuesday, May 26, 2009

Canadian Arrow Mines Ltd. CRO-X and Ursa Major Minerals Inc. UMJ-T are considering a strategic merger that would lead to the creation of a mid-tier nickel producer in Ontario. The companies said yesterday they envision an equity swap that would have Ursa Major buy Canadian Arrow. The combined company's board would have three members nominated by Ursa Major and two by Canadian Arrow. Representatives of the two companies would also hold senior management positions. Ursa chief executive Richard Sutcliffe would be chairman of the board and CEO of the combined company while Canadian Arrow president Kim Tyler would be president and chief operating officer. The combined company would have reserves and resources containing an estimated 200 million pounds of nickel, plus significant copper and precious metal byproducts. Ursa Major shares haven't traded since May 21, when they closed at 14 cents on the Toronto Stock Exchange. CRO (TSXV) rose 1¢ to 7¢.

- This company has connections to very well funded mining operations through decades of experience. I believe Mr. Tyler when he says they are speaking with 5 strategic partners for completion of there project through joint ventures. Joint venture speculation could drive our sp into a frenzy.

- The drill program which comprised our 253 million dollar property is open at depth and further drilling could significantly increase the resource. Some of our strongest results were on outer edges of the drill zone. De-watering of the 2500 meter mine shaft will allow them to get at these areas. The intersection I speak of is the 7% nickel over 5 meters that intersection comes from the end of the drill core. Further exploration could offer up amazing results. 0 summer 2008 drill results out, any significant finds in mine ready atikocan or kenora/dryden properties will lift stock.

- The company has contractual agreements with Opiwica explorations (OPW) on the TSX.V to mill there major gold and copper find with in close proximity of Canadian Arrows Planned site. Mining could begin on both projects in early 2010. This represents earnings and is a good partnership for a company seeking to be the next significant Nickel Copper producer in Canada.

- Canadian Arrow has the ability to produce nickel in its mine at 3.47 per pound nickel. That kind of number is unheard of in comparison to other mines. With production scheduled for early 2010 (around the same time our economy should be significantly rebounding) what if nickel prices return back to 15 dollars per pound? This site will look like a gem to any investor! (plus the property would be worth about 400mil at 15 dollars per pound nickel.

This is just a few of the key points that I believe make this company look attractive. If my predictions are correct we will see a significant rebound to normal multiples over the course of the next couple of months and with any significant news pertaining to my points and our sp and volume will be sent soaring. JV with cash on the books and abilitiy to help put project into production will send our sp back to .50 if not higher! I am Bull on Canadian Arrow mines.

Source

Review This .pdf 12 page report:

http://www.chfir.com/CRO_Valuation/CRO_ValuationReport.pdf

Rosenberg sees bright future for Canadian markets

David Rosenberg has not had much occasion to put on his "optimistic hat" of late, but now that he is back home in his native land, he sees a bright road ahead for Canada's equity markets.

Mr. Rosenberg, who for nearly a decade sang the siren song of doom on Wall Street as chief North American economist of Merrill Lynch, says Canada is well positioned to benefit from both Washington's extravagant intervention into its wounded financial and economic system and the resumption in the secular commodity bull market.

"There is an old saying that in the land of the blind, the one-eyed man is king and Canada is going to be looking like the one-eyed man," he said. "When you look at the future and global investors looking to allocate capital toward the U.S. and Canada, Canada is going to come out ahead."

Two weeks after starting his new role as chief economist and strategist at Gluskin Sheff & Associates, the Toronto-based wealth management firm, Mr. Rosenberg remains particularly skeptical about the near term prospects for both North American equity markets and the economy.

While he thinks a very large chunk of the credit shock is behind us, he said we have yet to work through widespread housing deflation and falling employment. Realistically, Mr. Rosenberg believes it could take years to make the transition to the next economic cycle and notes markets, which have risen almost 40% over the past two months largely on the proposition the economy is in recovery, could easily fall back to new lows in the coming weeks.

What has become more evident to Mr. Rosenberg as the current downturn progresses is the growing advantage that Canada appears to have gained over its neighbour to the south. At the heart of this advantage is the change in the economic world order.

"I think the U.S. is now in the sunset of its economic hegemony and the economic power is shifting towards Asia and China," he said.

In addition to a diminishing share of the global pie, Mr. Rosenberg is troubled by the massive incursion by the U.S. government into its economy via TARP, near-zero interest rates and other stimulus efforts. He also sees a much more regulated capital market in the United States going forward and predicts a loonie above par with the greenback and higher top marginal U.S. tax rate.

"We just do not have the structural fiscal deficit that the U.S. has right now," he said.

"They have a fiscal mess to clean up. If you look at their tax rates globally, there are still relatively low. The tax gap between Canada and the U.S. is going to grow inexorably over the course of the next decade in our favour."

Mr. Rosenberg added that the power shift away from the United States and towards Asia is likely secular and not cyclical in nature, noting Asia went through its recession and restructuring a decade ago. Given China's dependence on raw materials, he believes the commodity space is ripe for a sustained rebound, to which Canada will be a primary beneficiary.

"We are a huge net raw material exporter and the China is a huge net importer of raw materials. If the Asia story proves to be a secular story that plays well into our balance of payments and importantly for our equity markets," he said.

"Remember just because the economy is hitched to the U.S. it doesn't mean our markets are. In fact they are much more sensitive to what is happening in Asia because about 50% of our stock market is based on materials. And that's where we come out ahead."

2291 Total Signatures Timmies For Soldiers In Kandahar

To: TDL Group ( Tim Hortons Head Office)

I Started a group on facebook for Tim Hortons to have a Tim Hortons for the troops day where a portion of the proceeds will go to the troops overseas, either to use at the tim hortons there, or Tim hortons coffee to be sent over to them.

Let's see how much Timmies really cares. Lets see how many gunners and friends we can get on this thing. It's time to start a petition to the great Canadian Institution of Tim Horton's.

Now that they are located in Kandahar our troops can introduce the coalition to a Double Double. They say that drinking a coffee on a hot day is a great way to cool down but I don't know how true that is so maybe we can call this "Buy a Soldier an Ice cappuccino" group!

I think what would work best is for customers to donate 1.00 gift certificates and when its said and done they send all the gift certificates over to the troops and they can get whatever they wish. If a soldier chooses to have a coffee in 50 degree heat so be it lol, or they can get an ice cap, donut, muffin whatever they want.


Tim Hortons in Kandahar is hiring:
http://www.canada.com/theprovince/news/story.html?id=8f567fe7-fb94-4b91-a261-69b4236c6566

Tim Hortons Opens in Kandahar:
http://www.cbc.ca/world/story/2006/06/12/tim-hortons-kandahar.html

Sincerely,

The Undersigned

Its A Guy Thing...

Notice the Temperture Gauge?

This Engine Gets So Hot You Can Do Burgers and Dogs!

The Hottest BBQ Ever

Tim Runs Up Huge BEFORE Announcement- Insiders benefit!

Timminco lands silicon supply deal


Monday, May 25, 2009

TORONTO — Solar-panel silicon-producer Timminco Ltd. said Monday it has reached a supply agreement with German solar cell producer Q-Cells SE that contemplates delivery of 100 tonnes for 2009 with more to come up until 2013.

Stock in the Toronto-based company soared ahead of the announcement, gaining 46 per cent before being halted on the Toronto stock market. After the halt, the shares remained up, gaining 56 cents each to $1.79.

Under the supply agreement, which replaces an earlier five-year agreement signed in 2008, Timminco will negotiate by the end of this year further volumes, pricing and other terms for deliveries between 2010 and 2013 “in the context of prevailing solar industry market conditions.”

“Q-Cells is a valued customer of Timminco.” said Ren� Boisvert, president of Becancour Silicon, Timminco's subsidiary.

“We look forward to continuing to build a long term relationship with Q-Cells based upon application of our UMG-Si technology.”

Timminco will also return an outstanding deposit of about €8.9-million ($14-million) to Q-Cells. The companies agreed to a repayment schedule that will begin in the first quarter of 2010 and be completed by the end of 2010.

Last week, Timminco confirmed it will defend itself against a proposed class-action lawsuit alleging the company and its chief executive officer misled investors.

The action, filed last week in Ontario Superior Court, seeks $520-million on behalf of investors who bought Timminco stock between March and November last year.

It contends that the company, chairman and CEO Heinz Schimmelbusch and others provided misleading information about the profit potential of its process to produce high-grade silicon for use in solar cells.

Timminco shares, which rocketed from penny-stock levels in April, 2007, to a peak of $35.69 each last June, closed Friday at $1.30, down 96 per cent from their high.

Mr. Schimmelbusch told the company's annual meeting that Timminco's problems “are primarily market-driven,” caused by a slump in the solar energy industry related to a lack of financing and fewer government subsidies.

Timminco has cut production, spun off assets and delayed expansion, and reported a first-quarter loss of $22.3-million as sales fell 20 per cent from a year earlier to $37.7-million.

U.S. markets rattled

U.S. markets rattled

RTGAM


U.S. markets were hit with one of those uh-oh moments on Thursday morning when Standard & Poor's took one step toward downgrading the U.K.'s top triple-A credit rating. The U.K. is an ocean away, but the similarities between it and the United States are striking, a point not lost on investors who sent global stock market indexes down.

S&P lowered its outlook on U.K.

debt to "negative" from "stable," pointing to the extremely high debt levels
there. Right now, government debt represents nearly 67 per cent of the country's
economic outlook, and S&P is concerned that debt will soon approach 100 per
cent of gross domestic product.
Sound familiar?

According to Bloomberg, U.S. debt is 70.4 per cent of GDP, which suggests that its triple-A credit rating is also at risk. The effect in the U.K. has been dramatic: Bond prices are down, the pound is down and the FTSE 100 was down 2.2 per cent in
afternoon trading - a potential preamble to what the U.S. can expect if its
credit rating is also put on watch.

With about an hour before markets open, U.S. stock index futures were down, suggesting that stocks will fall at the start of trading. Futures for the Dow Jones industrial average were down 70 points. Futures for the broader S&P 500 were down 7 points.

Stocks certainly weren't given a helping hand from the latest snapshot of U.S. unemployment claims. Last week, initial claims were 631,000, down slightly from a revised 643,000 the week before - but still above the 600,000 threshold and slightly worse than what economists had been expecting. Just as troubling, continuing claims rose yet again to 6.66 million, suggesting that laid off Americans are still have trouble finding new jobs.

"The fact that the four-week moving average for initial claims fell is indicative of a slower pace of job destruction, though we are not convinced that a significant improvement is among us quite yet," said Ian Pollick, economics strategist at TD Securities, in a note. "In addition, the fact that the four-week moving average for continuing claims has drifted consistently higher for 66 straight weeks is indicative of a labor market shut for business."

Copyright 2001 The Globe and Mail

Off to Paris With PDP Wins

Sell In May And Go Away?

Well not really, just a vacation with PDP Money!

See You May 21 st

PDP-T Rating change 5-Star Rating (new): ***

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PDP Has Exploded - After Annual Meeting!

Petrolifera Petroleum reports Q1 2009 results and schedules Conference Call May 7, 2009, 9:00 a.m. MDT; Company encouraged by drilling results and logs; Testing of La Pinta well in Colombia anticipated to be completed in a timely manner

cnw

CALGARY, May 6 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) is pleased to report our first quarter 2009 ("Q1 2009") operating and financial results to our shareholders, together with comparative information from last year.


Petrolifera's high impact drilling program began in January 2009, with the spudding of its La Pinta No.1 well on the Sierra Nevada License in the Lower Magdalena Basin onshore Colombia. We also control extensive contiguous acreage under what was previously the Magdalena Technical Evaluation Agreement ("TEA"), which is in the process of being converted to a License. The La Pinta well was recently logged and cased after being drilled to a final total depth of 11,250 feet. Results while drilling have been encouraging and were further confirmed by logs. A testing program will begin as soon as possible and when completed, results will be communicated by way of press release.


On March 2, 2009 Petrolifera announced its intention to commence a process to sell its Argentinean operations. All of the company's current production, a significant portion of its reserves and extensive undeveloped acreage is held in Argentina, where assets continue to hold promise and upside potential, which is of importance to a prospective purchaser. We retained Tristone Capital Inc. ("Tristone") to manage the process for the company. Data rooms are anticipated to open in mid-May 2009 with a view to offers being submitted for consideration by June 18, 2009. It is our objective to sell our Argentinean operations as a going concern to maximize continuing employment opportunities for our in-country employees. It is anticipated the sale will proceed if suitable and acceptable proposals are forthcoming and all requisite approvals are obtained. The expressions of interest in the process have been plentiful and from companies and enterprises operating from a variety of jurisdictions, including Argentina. If a transaction were completed, funds would be deployed in our high impact exploration and evaluation programs in Colombia and in Peru and to discharge related reserve-based indebtedness.


These Q1 2009 results will be subject to a Conference Call event at 9:00 a.m. MDT May 7, 2009. To listen to or participate in the live conference call please dial either (416) 644-3434 or (800) 814-4857. A replay of the event will be available from May 7, 2009 at 11:00 a.m. MT until May 15, 2008 at 11:59 p.m. MT. To listen to the replay please dial either (416) 640-1917 or 877-289-8525 and enter the passcode 21305120 followed by the pound sign.




<< class="Apple-style-span" style="color: rgb(255, 0, 0);"> Petrolifera announced its intention to enter into a process to sell its operations in Argentina - A successful multi-well heavy oil drilling program was initiated on the company's 100 percent owned Gobernador Ayala II Concession in La Pampa Province, Argentina, which could favorably impact on the sales efforts and pricing prospects - High potential drilling commenced in Colombia with La Pinta No.1, now an indicated discovery based on results while drilling and logs; testing is anticipated to be completed in a timely manner - Seismic programs were completed on Block 106 in Peru and on our Turpial Concession in the Middle Magdalena Basin, Colombia - We are nearing completion of the conversion of the Magdalena TEA to License status; this extensive land block adjoins the Sierra Nevada Concession in the Upper Magdalena Basin of Colombia - Preparations for drilling on Block 107 in the Ucayali Basin, Peru were initiated; mandatory acreage relinquishment on Block 107 was determined and submitted for approval; new license on Block 133, offsetting Block 107 to the west was secured, enhancing Petrolifera's landholdings in the region - Solid cash flow, profitability and favorable commodity pricing realized in Argentina during Q1 2009 - Plan of Arrangement for asset backed commercial paper restructuring completed; related line of credit expanded to $28.2 million and borrowings reclassified as long term, which improved working capital and enhanced liquidity Read Full Report Here

Planned maintenance will cut total loading volumes of major North Sea crude oil to a two-year low in June

N Sea Crude:June Supply To Hit 2-Year Low; Impact Seen Limited


10:17 EDT Monday, May 11, 2009

LONDON -(Dow Jones)- Planned maintenance will cut total loading volumes of major North Sea crude oil to a two-year low in June, traders said Monday, although they expect little impact on spot market prices.

North Sea crude oil producers will supply a total of 37.62 million barrels of benchmark North Sea BFOE crude - Brent, Forties, Oseberg and Ekofisk crude oil - in June, down 15% from May's 44.24 million barrels, the lowest since June 2007, according to Dow Jones data.

June's volume will be equivalent to 1.25 million barrels a day, about 12% lower than May.

Including the Norwegian Statfjord and Gullfaks grades, supply of the six major North Sea grades will total 48.73 million barrels, or 1.62 million barrels a day, down 13.3% versus May.

The sharp decline in June loading volume is mainly due to planned maintenance at StatoilHydro ASA's (STL.OS) Oseberg oil field. As a result, Oseberg's June supply will fall 55% on the month to 3 million barrels.

A spokesman at StatoilHydro declined to comment on an exact downtime for the field, although the company said last month that it would be partially offline for maintenance in June.

A person familiar with the situation said the company is scheduled to shut the field between June 8-18 for maintenance. No Oseberg cargoes will be loading after June 5 until June 23, according to a copy of the June loading program seen by Dow Jones Newswires.

But less Oseberg volume may not lend much support to the market since traders pay more attention to the loading volume of the Forties Blend, the grade that typically sets the price of the benchmark BFOE basket.

"Rarely anything matters on BFOE otherthan Forties," a trader said. One less cargo of Forties is scheduled for June compared with May, with 34 standard 600, 000-barrel cargoes of Forties slated.

"Oseberg rarely sets the quote or goes in chains," said the trader.

With this in mind, most traders doubt the Forties market will tighten significantly to affect BFOE prices in coming weeks.

On May 7, Forties traded at a discount of 50 cents a barrel to Dated BFOE, compared with a parity the previous week.

Ample supply of Forties in June and July suggests that traders may continue to store extra barrels in supertankers in a bid to take advantage of the contango structure in the market. A contango structure in crude futures means near-term contracts are priced cheaper than those further into the future.

Currently, five to six very large crude carriers are employed for Forties storage in the North Sea, traders said.

However, maintenance is expected to cut Forties crude output to 365,000 barrels a day in August, down 46% from July projections, according to BP PLC ( BP), which operates the Forties Pipeline System.

Earlier this year, Canadian energy company Nexen Inc. (NXY) said that the company will conduct up to six weeks of third quarter maintenance at its 200, 000-barrel-a-day Buzzard oil field in the North Sea to coincide with maintenance on the Forties Pipeline System.

The output from the Buzzard field, the biggest in the Forties system, contributes to around a quarter of total production of Forties Blend. There are more than fifty oil fields making up Forties Blend.

North Sea Crude Oil Loading Programs
Grade June Vol B/D May Vol B/D
(Bbl) (Bbl)
Brent 3,668,000 122,267 4,240,000 136,774
Forties 20,400,000 680,000 21,000,000 677,419
Oseberg 3,000,000 100,000 6,650,000 214,516
Ekofisk 10,550,000 351,667 12,350,000 398,387
Total 37,618,000 1,253,933 44,240,000 1,427,097

Statfjord 5,130,000 171,000 5,985,000 193,065
Gullfaks 5,985,000 199,500 5,985,000 193,065

Total 48,733,000 1,624,433 56,210,000 1,813,226


-By Sherry Su, Dow Jones Newswires; +44(0)20-7842-9329; sherry.su@dowjones.com


(END) Dow Jones Newswires
05-11-09 1016ET
Copyright (c) 2009 Dow Jones & Company, Inc.

S&P 500 rally is overdue for consolidation and investors should brace for a pullback towards the 50-day moving average

Fear of heights

RTGAM


When stock markets rise for nine straight weeks in anticipation of an economic recovery some time down the road, there are bound to be some setbacks as investors take a long look at how high markets have come. Monday appears to be one of those setbacks - though of course it is impossible to know at this point whether it is a short-term blip or the start of something nastier.


U.S. stock index futures were down with about 30 minutes before markets open, suggesting that stocks will fall at the start of trading. Futures for the Dow Jones industrial average were down 79 points. Futures for the broader S&P 500 were down 12 points.


In Europe, the U.K.'s FTSE 100 was down 1 per cent and Germany's DAX index was down 1.2 per cent in afternoon trading. In Asia, Japan's Nikkei 225 rose 0.2 per cent in overnight trading.


There wasn't a whole lot of news driving the losses - although efforts by a number of U.S. financial firms to raise capital by selling common shares might be hanging over the market. As well, commodity prices were generally lower, which could weigh heavily on the Canadian market when it opens for trading.


Vincent Delisle, strategist at Scotia Capital, noted that recent improvements in employment data from Canada and the United States reinforce his impression that the global recession is in the late stages.


"As enjoyable as this winning stretch has been, however, the laws of physics should eventually catch up with this positive momentum," he said, in a note. "Near term, the S&P 500 rally is overdue for consolidation and investors should brace for a pullback towards the 50-day moving average." If he's right, the pullback would take the S&P 500 back to 809 from its current level of 929.


Longer term, though, he remains upbeat, with a 2010 target of 1,000 for the index.

Copyright 2001 The Globe and Mail

Door To Door Energy Tactics and Cons -Buyer Beware!

TheStar.com - Business - A checklist for energy con tactics
May 10, 2009
Ellen Roseman

Ontario isn't doing enough to protect consumers from deceptive tactics used by door-to-door energy sellers.

The province opened its doors to competition in natural gas in 1997 and to electricity in 2002.

Today, there's an army of agents cajoling, pushing and often tricking you into buying a long-term contract for your energy supply.

If you say yes at the door – and later on the phone when the company calls to confirm – you will be locked into a fixed price that may be far higher than the local utility's rate. To get out before the contract expires, you will have to pay hundreds or thousands of dollars to win your release.

Ontario tried to jump-start energy competition, but ignored the way that competitors built their market share, says Michael Janigan, executive director of the Public Interest Advocacy Centre.

"The benefits associated with having this stuff going on are dwarfed by the problems associated with it," he says.

The Ontario Energy Board is falling behind on the job of policing the conduct of energy sellers.

The board received 2,126 complaints about marketers in the first quarter of this year – up from a quarterly average of 1,500 last year – but rarely lays charges.

It fined two retailers this year for failing to follow market rules. This was the first penalty since 2003.

Last week, it ordered Direct Energy Marketing Ltd. to pay $15,000 for misrepresentation exposed in a hidden camera investigation by CBC's Marketplace.

The abuses should have abated soon after Ontario's energy market was opened to choice. Instead, they're getting worse. It's time for the government to act.

A private member's bill by Liberal MPP David Ramsay passed second reading, but is stalled in the Legislature until next fall.

So, what would I propose? Here's a checklist.

• Drop the rule that marketers must call customers 10 days to two months after an agent's visit to reaffirm the purchase. This is too late to be effective.

• Set up a third-party verification system, such as exists in British Columbia for gas sales, where an independent company calls people the same day an agent comes to their home.

• Write a standard script for all verification calls. Make sure customers understand who they're dealing with and the terms of the deal, including the cancellation penalties.

• Don't allow agents to carry anything that has the name or logo of a utility (such as Enbridge Gas or Toronto Hydro). This helps create false impressions about their identity.

• Ban the use of terms such as savings, low prices or guarantees. The only thing that marketers can promise is a stable price.

• Let customers cancel once they see what they're paying. Give them the legal right to opt out of a contract within 30 days of receiving their first bill at the new rate.

• Eliminate automatic renewals of gas contracts for one year if customers don't cancel in writing before the expiry date. Allow contracts to be renewed on a month-to-month basis at the existing price, not a higher price.

• Stop letting marketers recruit each other's customers mid-contract. This leads to confusion and two sets of cancellation penalties. Deals signed at the door should be void if the customer is already bound to another company.

Next week, how to retrofit your home to save energy.

eroseman@thestar.ca

Marketplace Uncovers BIM Scam- Beware You'll Lose $3200.00

CBC Marketplace Scam Alert

How to recognize a pyramid scheme

Easy Money: Main Page

Pyramid Schemes and Canadian law

More about Alan Kippax and BIM Corporation

The Tip Sheet: How to recognize a pyramid scheme

Marketplace answers your "Easy Money" questions

ho doesn't want to make more money these days? An economic crunch combined with massive layoffs make money schemes all the more tempting. But if profits rely on recruiting others, you could be part of a pyramid scheme, which is illegal in Canada.

Here are some pointers on how to spot a pyramid scheme:

The scheme is promoted word of mouth or through closed door meetings. Beware of promises of extremely high commissions.

Products associated with pyramid schemes often have little real value and it is difficult for the average consumer to determine their actual worth.

Consider if there is a true market for the product and if it is actually being sold to people outside of the scheme. If not the name of the game is likely recruiting.

To survive, pyramid schemes rely on a continuous inflow of new recruits. But basic math shows they will eventually collapse.

Be skeptical about testimonials about the product or the plan. The company may be paying individuals to give testimonials or may have strategically ensured their success in the business.

PDP-T I Told You This Was Going To Fly 44% Today Alone!

Nine-week rally continues

Nine-week rally continues

RTGAM

The Toronto stock market's nine-week-old rally continued Friday, with its main index closing at its highest level since early October, as optimism was fuelled by better-than-expected job numbers, rising oil and gas prices and renewed confidence in the U.S. banking sector.
The S&P/TSX composite index moved up 270.94 points to 10,237.99, lifting the main index up about 37 per cent from the start of the rally in early March.
Statistics Canada said the economy added 35,900 jobs in April, against market expectations of a 50,000 decline. In the United States, layoffs slowed in April to a six-month low of 539,000.
The Dow Jones industrial average moved up 164.80 points to 8,574.65, while the broader S&P 500 index rose 21.84 to 929.23.
Investors expressed relief at the results of the U.S. government's stress tests on the 19 largest U.S. banks, released after markets closed Thursday.
"Getting past the stress tests was a milestone," said Jim Dunigan, managing executive of investments for PNC Wealth Management.
The Canadian Press

Copyright 2001 The Globe and Mail

Pescod Says...

OUCH Hope You Cashed Out at The Top Today- I did

Stressed about stress tests?

RTGAM

North American stock market indexes ran out of energy on Thursday, turning early gains into nasty losses by the close of trading. Are these mere jitters as major indexes move higher from their multi-lows in early March? Or does this mark an important turn that, as some observers predict, will take major indexes back to their lows? Stay tuned.


The Dow Jones industrial average closed at 8409.85, down 102.43 points, or 1.2 per cent - a drop of 167 points from its high early in the day. The broader S&P 500 closed at 907.39, down 12.14 points, or 1.3 per cent, though it remained slightly up for the year.


You can blame the setbacks on the U.S. government's release of stress tests later in the day (5 pm ET), with investors perhaps taking money off the table as the big moment approaches. However, most of the information has already been leaked.


Another potential culprit is Cisco Systems Inc., which reported a sharp drop in its quarterly sales and forecast that the current quarter could be even worse - a sign that the economy may not have bottomed out just yet. The shares fell 3.4 per cent.


Either way, early ebullience over a better-than-expected report on initial jobless claims for last week evaporated. Although Bank of America Corp. rose 6.5 per cent, the gain was well off the earlier high. Other financials weren't as fortunate: Wells Fargo & Co. fell 7.8 per cent and JPMorgan Chase & Co. fell 5.3 per cent.


Hewlett-Packard Co. followed the general retreat from technology stocks, which have enjoyed outsized gains during the recent rally. The shares fell 5 per cent.


In Canada, the S&P/TSX composite index closed at 9971.39, down 172.04 points, or 1.7 per cent - a substantial 370 points off its high early in the day, which put the benchmark index back below the 10,000 threshold, one day after crossing it amid widespread media fanfare.


Gold producers made out fine, with Goldcorp Inc.'s 2.5 per cent rise in line with the increase in the price of gold. However, early gains by energy stocks disappeared when the $2 (U.S.) bump in the price of crude oil - taking it closer to $60 a barrel - fell back to a gain of just 37 cents.


Research In Motion Ltd. fell 4.2 per cent and financials were also weak. Toronto-Dominion Bank fell 4 per cent and Bank of Nova Scotia fell 3.5 per cent.

Copyright 2001 The Globe and Mail

Dalton McGuinty wants to screw you

By Klaus Rohrich  Friday, March 13, 2009

Recently Ontario Premier Dalton McGuinty was musing about the possibility of introducing the so-called Harmonized Sales Tax (HST), which some provinces have adopted under the guise of simplifying and harmonizing the complex federal and provincial tax regimes.  His reasons for taking “a good look” at Ontario adopting the HST ostensibly was to “simplify” the remittance process and to “save businesses money”.

But to me, it seems much more likely that the real reason behind this “good look” is that provincial coffers would nab a huge windfall in additional taxes as many of the goods and services sold in Ontario today are taxed under the GST and not the current provincial sales tax.

For instance, if you purchase a new home that home ‘s purchase price is subject to the 5% GST.  So if you buy a new home for, say $400,000, the builder is obligated to tack on an additional 5%, or $20,000 in GST.  Under the HST the government of Ontario would be able to tack on its own 8% tax raising the cost of that home by another $32,000.

But it isn’t just homes that would fall victim to this new tax, it is a wide range of other services that are currently only subject to the GST.  Paying legal fees to a lawyer?  The lawyer must charge 5% GST.  With the HST, the lawyer will then be obligated to charge 13% in HST.  Same with accountants, psychologists, architects, engineers, and a whole slew of other professionals that currently only charge the GST.

If you happen to be suffering from depression and seek counseling form a psychologist, the usual fee is $125.00 plus GST, which works out to about $132,00.  McGuinty’s HST will depress you even more, as the cost of treatment would now increase by an additional 8%, as Dalton would want his cut.  Seeking help from a psychiatrist is out of the question, as most psychiatrists, who are medical doctors and are covered under the province’s health plan, no longer counsel patients, but assess and refer them to psychologists, which is much more lucrative.

Newspapers, magazines, radio and television stations would increase the cost of their products and services by an additional 8%, as Dalton would want to claim his own piece of the pie under the new GST.  A full Page ad in The Globe and Mail, which under some circumstances can cost in excess of $50,000 is subject to $2,500 in GST today.  Under McGuinty’s scheme that same ad would have an additional $6,500 tacked on in HST.

In his musings about this new HST, McGuinty claims it will save businesses somewhere on the order of $100 million per year, as they will no longer have to file duplicate returns.  What McGuinty hasn’t talked about and one wonders why the so-called mainstream media hasn’t picked up on this either is how much it will cost the taxpayers of Ontario.

The Greater Toronto Homebuilders’ Association has estimated that a new HST regime would increase the average price of a new home in the GTA by about $46,000!  That’s a huge windfall for Dalton and the boys to buy more votes with, when you think that during a good year Toronto homebuilders pump out somewhere in the neighbourhood of 3,000 new homes.  The GTA’s new home market alone would increase the province’s revenues by close to $140 million.  When you extrapolate these added costs across the entire provincial economy, the additional revenue will be many billions of dollars.

What do you suppose happens when you take this much cash out of an economy in the form of additional taxes?  The end result will make the current recession look like economic boom times, as the burden of these new taxes would crush any hope for a recovery any time soon.  It would further depress the new home market, as well commercial leasing and other businesses.

Musings such as these demonstrate the degree to which the premier of Ontario is out of touch with the realities facing the citizens of the province.  Using the specious rationale that the HST would save business $100 million in accounting costs is an act of kindness Ontarians really don’t need.  It’s likely to totally screw the economy.

Klaus Rohrich 

Copyright © Canada Free Press
Klaus Rohrich is senior columnist for Canada Free Press.

You are about to become the victim of the largest tax hike in our history.

How will this affect you? 

Let's start with just a few things that are to be charged the extra 8% and see if it will affect you or your family.

Gasoline

Home heating fuel

Water

Hydro

Used cars

Government and city services

Real Estate Fees - if you think 5 or 6% is bad, just watch the market decline further when people now pay PST + GST

Any service you now use for your home or business such as repairs, professional services of any kind, construction materials etc.

These are just a few.

See this article about how the $1000.00 BRIBE they are offering will not even cover ½ of the increased cost to the average family.


This tax hits Ontarians hard, but ESPECIALLY the low income ones! They will have an 8% increase in everyday life, and yet you will not see their benefits or salaries rise.

http://www.digitaljournal.com/article/269917

Actually almost everything currently without PST in your life - except child's clothing, prescriptions, diapers, and feminine hygiene products - will now cost you 8% more. Oh and here is a kicker. The fuel tax will slide with the increasing cost of that fuel.

Our premier is counting on taxpayers to do what they always do when a new tax is added.Nothing! It is very important that you start to research and discuss this with your friends and family. It is not too late to stop this if you are willing to do something as send an email to the premier asking him either to a) stop the tax grab all together or b) do what was originally intended and blend the tax on the products that now have both taxes and not to extend the new tax to everything else. If you just sit there remember you lose the right to complain about taxes ever again. Get UP and start telling everyone about this injustice and we can stop this today. Don't think your email will not count. When most MP's get more than 10 emails, they consider it a catastrophe!

Here is a sample letter:

Dear Premier McGuinty,

I am very upset that you are going to raise taxes 8% as you introduce the HST. I demand that this largest tax raise in Ontario history be removed immediately. 

Our economy is already in trouble and raising taxes by 8% will only make this worse.Gasoline,Home heating fuel

Water,Hydro,Used cars,Government and city services

Real Estate Fees - its bad enough paying land transfer taxes and more, just watch the market decline further when people now pay PST + GST It will also make Ontario a bad place for businesses. If you pass this tax increase you can be assured you will NOT get my vote in the next election.

Sincerely,

Your Name and City

Send your objection to:

http://www.premier.gov.on.ca/feedback/feedback.asp

http://theclientreview.com/no-to-hst.html

Pescod Loves This Bull Rally

Petrolifera Petroleum reports Q1 2009 results and schedules

Petrolifera Petroleum reports Q1 2009 results and schedules Conference Call May 7, 2009, 9:00 a.m. MDT; Company encouraged by drilling results and logs; Testing of La Pinta well in Colombia anticipated to be completed in a timely manner

cnw

CALGARY, May 6 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) is pleased to report our first quarter 2009 ("Q1 2009") operating and financial results to our shareholders, together with comparative information from last year.


Petrolifera's high impact drilling program began in January 2009, with the spudding of its La Pinta No.1 well on the Sierra Nevada License in the Lower Magdalena Basin onshore Colombia. We also control extensive contiguous acreage under what was previously the Magdalena Technical Evaluation Agreement ("TEA"), which is in the process of being converted to a License. The La Pinta well was recently logged and cased after being drilled to a final total depth of 11,250 feet. Results while drilling have been encouraging and were further confirmed by logs. A testing program will begin as soon as possible and when completed, results will be communicated by way of press release.


On March 2, 2009 Petrolifera announced its intention to commence a process to sell its Argentinean operations. All of the company's current production, a significant portion of its reserves and extensive undeveloped acreage is held in Argentina, where assets continue to hold promise and upside potential, which is of importance to a prospective purchaser. We retained Tristone Capital Inc. ("Tristone") to manage the process for the company. Data rooms are anticipated to open in mid-May 2009 with a view to offers being submitted for consideration by June 18, 2009. It is our objective to sell our Argentinean operations as a going concern to maximize continuing employment opportunities for our in-country employees. It is anticipated the sale will proceed if suitable and acceptable proposals are forthcoming and all requisite approvals are obtained. The expressions of interest in the process have been plentiful and from companies and enterprises operating from a variety of jurisdictions, including Argentina. If a transaction were completed, funds would be deployed in our high impact exploration and evaluation programs in Colombia and in Peru and to discharge related reserve-based indebtedness.


These Q1 2009 results will be subject to a Conference Call event at 9:00 a.m. MDT May 7, 2009. To listen to or participate in the live conference call please dial either (416) 644-3434 or (800) 814-4857. A replay of the event will be available from May 7, 2009 at 11:00 a.m. MT until May 15, 2008 at 11:59 p.m. MT. To listen to the replay please dial either (416) 640-1917 or 877-289-8525 and enter the passcode 21305120 followed by the pound sign.




<<
Highlights for the period were as follows:

- Petrolifera announced its intention to enter into a process to sell
its operations in Argentina
- A successful multi-well heavy oil drilling program was initiated on
the company's 100 percent owned Gobernador Ayala II Concession in La
Pampa Province, Argentina, which could favorably impact on the sales
efforts and pricing prospects
- High potential drilling commenced in Colombia with La Pinta No.1, now
an indicated discovery based on results while drilling and logs;
testing is anticipated to be completed in a timely manner
- Seismic programs were completed on Block 106 in Peru and on our
Turpial Concession in the Middle Magdalena Basin, Colombia
- We are nearing completion of the conversion of the Magdalena TEA to
License status; this extensive land block adjoins the Sierra Nevada
Concession in the Upper Magdalena Basin of Colombia
- Preparations for drilling on Block 107 in the Ucayali Basin, Peru
were initiated; mandatory acreage relinquishment on Block 107 was
determined and submitted for approval; new license on Block 133,
offsetting Block 107 to the west was secured, enhancing Petrolifera's
landholdings in the region
- Solid cash flow, profitability and favorable commodity pricing
realized in Argentina during Q1 2009
- Plan of Arrangement for asset backed commercial paper restructuring
completed; related line of credit expanded to $28.2 million and
borrowings reclassified as long term, which improved working capital
and enhanced liquidity
Read Full Report Here

PDP Ready To Sell Argentina?

Petrolifera updates Colombian and Argentinean drilling activity
3/4/2009 5:03 PM - Canada NewsWire

CALGARY, Mar 4, 2009 (Canada NewsWire via COMTEX News Network) --

Petrolifera Petroleum Limited (PDP - TSX) announced today that the La Pinta 1 well on its 100 percent owned Sierra Nevada License in Colombia has reached a depth of approximately 8,300 feet and that preparations are underway to run an intermediate casing string, as scheduled. The wellbore is being conditioned after a logging run and then the casing string will be run. 

Petrolifera is encouraged by results thus far in the drilling of the La Pinta 1 well, based on hydrocarbon shows and the results of logs. Drilling of the well is running approximately 20 days behind schedule due to occasional mechanical issues with the rig and slow penetration rates through certain zones.

In Argentina, Petrolifera recently commenced drilling of its first exploratory well, PPEA.LP.LS.x-1, on its Gobernador Ayala II Concession located in La Pampa Province.

The well is licensed to be drilled to a depth of approximately 1,000 meters and is being drilled on a 3D seismically-defined prospect for heavy crude oil. 

Source

Argentina Sales Process

Petrolifera also announces that its Board of Directors has authorized the company to enter in to an engagement agreement with Tristone Capital ("Tristone") of Calgary, Houston, Buenos Aires and London, whereby Tristone would immediately commence to establish a data room, which will be made available to qualifying companies. Tristone will assist Petrolifera in the sale of Petrolifera's interests in Argentina, which are primarily indirectly held by a wholly-owned Barbadian subsidiary. 

It would be Petrolifera's intention to sell its interests in a tax effective manner and to redeploy the proceeds in its high-potential exploration activities in Colombia and Peru, after discharging related outstanding long-term indebtedness. While Petrolifera recognizes continuing potential associated with its extensive Argentinean assets, both from an exploratory and exploitation perspective, it is the opinion of management and the company's Board of Directors that the company's holdings in Colombia and Peru have greater identified growth potential. 

Petrolifera's desire is to sell its Barbadian subsidiary and related assets as a going concern, with view to the purchaser providing continuing employment to the company's managerial, technical and operating staff to the fullest extent possible. 

Arrangements are contemplated to ensure fair and appropriate treatment under prevailing employment law to both continuing and redundant employees and contractors, should the prospective purchaser not require all of Petrolifera's current Argentinean employees and contractors on a continuing basis. 

Source

Be sure to review the webcast, the stock is climbing on this rumour

Petrolifera Petroleum Limited (TSX: PDP.)
   Annual General Meeting Webcast
   May 6, 2009, 3:20 PM MT/5:20 PM ET
   To listen to this event, please enter 

in your web browser.
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2619540 

Ontario Premier Dalton McGuinty Needs To Hear From You Too!

As a concerned taxpayer I feel it is important to have you all understand what the new HST (Harmonized Sales Tax) or "blended tax" means to Ontarian's.

It amazes me that this announcement has slipped by without a ripple, and yet when I tell people about the impact to them they are all shocked.

The intended purpose is to blend the GST and the PST into one tax.. This will cut down the paperwork burden for Ontario businesses and, in theory, lessen staff by merging both departments. This could be a noble attempt to cut costs. There is just one problem. Rather than just blending the products and services that now charge both taxes, the provincial government has decided that it will apply this new tax to almost all goods and services that you do not pay PST on now!

You are about to become the victim of the largest tax hike in our history.

How will this affect you? 

Let's start with just a few things that are to be charged the extra 8% and see if it will affect you or your family.

Gasoline

Home heating fuel

Water

Hydro

Used cars

Government and city services

Real Estate Fees - if you think 5 or 6% is bad, just watch the market decline further when people now pay PST + GST

Any service you now use for your home or business such as repairs, professional services of any kind, construction materials etc.

These are just a few.

See this article about how the $1000.00 BRIBE they are offering will not even cover ½ of the increased cost to the average family.


This tax hits Ontarians hard, but ESPECIALLY the low income ones! They will have an 8% increase in everyday life, and yet you will not see their benefits or salaries rise.

http://www.digitaljournal.com/article/269917

Actually almost everything currently without PST in your life - except child's clothing, prescriptions, diapers, and feminine hygiene products - will now cost you 8% more. Oh and here is a kicker. The fuel tax will slide with the increasing cost of that fuel.

Our premier is counting on taxpayers to do what they always do when a new tax is added.Nothing! It is very important that you start to research and discuss this with your friends and family. It is not too late to stop this if you are willing to do something as send an email to the premier asking him either to a) stop the tax grab all together or b) do what was originally intended and blend the tax on the products that now have both taxes and not to extend the new tax to everything else. If you just sit there remember you lose the right to complain about taxes ever again. Get UP and start telling everyone about this injustice and we can stop this today. Don't think your email will not count. When most MP's get more than 10 emails, they consider it a catastrophe!

Send your objection to:

http://www.premier.gov.on.ca/feedback/feedback.asp



If you do nothing, you lose your right to complain.

U.S. recession is grinding to a halt and growth will resume later this year

After the Bell


The close: A down Legg

RTGAM The good news? Ben Bernanke, Chairman of the Federal Reserve, believes the terrible U.S. recession is grinding to a halt and growth will resume later this year. The bad news? The recovery will be slow.


While that assessment would have been enough to send stock markets soaring a couple of months ago when it seemed as though the U.S. economy was teetering on the edge of the abyss, these are different times. The stock market has already discounted a retreat from the abyss, and some observers believe it has begun to price in a decent recovery now that the S&P 500 has bounced about 35 per cent above its 12-year low in early March.


In other words, investors merely shrugged off Mr. Bernanke's upbeat assessment on the economy, leaving U.S. stocks down slightly for the day after a strong rally on Monday.


The Dow Jones industrial average closed at 8410.65, down 16.09 points, or 0.2 per cent. The broader S&P 500 closed at 903.80, down 3.44 points, or 0.4 per cent - within a breath of where it began the year.


Intel Corp. fell 3 per cent and Procter & Gamble fell 2.4 per cent. As well, money management firm Legg Mason Inc. fell 17.3 per cent after it reported a wider-than-expected loss in its quarterly results and cut its dividend. However, Kraft Foods Inc. rose 4 per cent after investors applauded the company's first quarter results.


Financials were mixed, as investors await the results of government stress tests, due to be released on Thursday. Bank of America Corp. rose 4.4 per cent but JPMorgan Chase & Co. fell 2.7 per cent.


In Canada, the S&P/TSX composite index closed at 9880.72, up 10.35 points, or 0.1 per cent.


Financials were generally strong, with some of the higher-yielding names reporting the best gains. Bank of Montreal, the one deemed most likely to trim its dividend during the worst stretch of the bear market earlier this year, rose 4.3 per cent. At the other end of the spectrum, Royal Bank of Canada rose just 0.4 per cent.


Linamar Corp. surged 39.4 per cent after the auto parts maker reported a smaller-than-expected loss for its quarterly results.


However, energy stocks were weak after the price of oil retreated below $54 (U.S.) a barrel, down 63 cents. Suncor Energy Inc. fell 1.4 per cent and Canadian Oil Sands Trust fell 2 per cent.

Copyright 2001 The Globe and Mail


Toronto Most Actives At 4:15 PM EDT

djones

iShares Cdn 60 Index       27,626,970  15.08
Breakwater Resources       19,809,110   0.20  up   0.02
Teck Resources             17,581,660  15.79  up   0.09
Mercator Minerals          13,787,900   1.90  off  0.16
Denison Mines              13,366,790   2.73  off  0.16
Bombardier B               12,131,630   4.13  up   0.22
Horizons NYMEX Crude Bull  11,616,040   6.36  off  0.13
Manulife Financial          7,718,788  21.57  up   0.32
Anvil Mining                7,591,724   1.31  off  0.08
Eastern Platinum            6,967,817   0.60  up   0.02

A refreshing pause?

A refreshing pause?

RTGAM

Global stock market indexes struck a cautious note on Tuesday morning after a strong rally on Monday sent major indexes to multi-month highs over enthusiasm for an economic rebound.


U.S. stock index futures were down with about an hour before markets open, suggesting that stocks will dip slightly at the start of trading. Futures for the Dow Jones industrial average were down 22 points. Futures for the broader S&P 500 were down 4 points - threatening to put it back below the 900 threshold and perhaps back into negative territory for the year, one day after poking into the black for the first time since January.


In Europe, the U.K.'s FTSE 100 was up 2.5 per cent in afternoon trading, after the stock market there was closed on Monday. Germany's DAX index fell 0.5 per cent. In Asia, Japan's stock market was closed, but Hong Kong's Hang Seng index rose 0.3 per cent in overnight trading.


Corporate news was mixed. Financial firm UBS AG announced a $1.8-billion (U.S.) quarterly loss and maintained a cautious outlook due to a worsening economy. However, Kraft Foods Inc.'s first quarter earnings jumped 10 per cent.


Bloomberg News is reporting that the U.S. government's stress tests on financial firms is likely to conclude that 10 of the 19 firms in the study will need additional capital to keep them safe from a deeper-than-expected recession. Results are due to be released officially on Thursday.


In the meantime, investors will be anticipating Ben Bernanke's testimony before the Joint Economic Committee, where the Federal Reserve chairman will discuss recent attempts to get banks lending again and efforts to stimulate the economy - pertinent stuff, with the stock market anticipating an economic recovery.


In Canada, Loblaw Cos. Ltd. reported a 73 per cent jump in its first quarter earnings. Adjusted earnings, which ignore one-time factors, were 47 cents a share, well above the 35 cents a share than analysts had been expecting.

Copyright 2001 The Globe and Mail

What A Rally

TSX jumps 373 points, biggest 1-day gain of 2009

TSX jumps 373 points, biggest 1-day gain of 2009
Last Updated: Monday, May 4, 2009 | 5:54 PM ET Comments7Recommend24
CBC News

Stock markets surged upward Monday as better-than-expected U.S. data on construction spending and home sales raised investors' hopes that the economy is starting to turn around.

Toronto's TSX composite index closed up 373 points to 9,821 — the biggest one-day gain this year, a rise that extended a rally that has pushed the benchmark index up by more than 25 per cent since early March.

In New York, the Dow Jones gained 214 points, while the Nasdaq climbed 44 points.

Traders were heartened as the U.S. Commerce Department said construction spending rose 0.3 per cent in March after five straight monthly declines. Economists had forecast a drop of 1.5 per cent. The National Association of Realtors reported that home sales rose 3.2 per cent in March.

On the TSX, the energy sector was 4.7 per cent higher as the June crude oil contract in New York rose $1.27 to $54.47 US a barrel. Petro-Canada gained $1.27 to $41 while EnCana Corp. was up $2.99 to $60.

The base metals sector was up more than nine per cent, with shares of Teck Resources Ltd. gaining $1.71, or 12 per cent, to $15.70 after the company announced a note issue.

"Back in the fall, credit markets were shut down completely — they couldn't have embarked on this then," said Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier.

The gold sector advanced 4.7 per cent as the June bullion contract in New York rose $14 to $902.20 an ounce. Shares of Barrick Gold Corp. were up $2.05 to $36.45.

The Toronto financial sector rose 4.3 per cent with CIBC gaining $2.38 to $56 and Royal Bank climbing $1.45 to $43.47.

Stock markets in Asia and Europe also moved higher, with Hong Kong's Hang Seng index jumping 5.5 per cent, while Germany's DAX rose 2.6 per cent and France's CAC-40 gained 2.45 per cent.

Markets in London and Tokyo were closed for holidays.