Thursday, July 30, 2009

URSA Major Minerals Withdraws From Proposed Business Combination With Canadian Arrow Mines - Quick Facts

URSA Major Minerals Inc.(UMJ.TO: News ) announced that it will not be proceeding with the proposed business combination with Canadian Arrow Mines Ltd. that was previously announced on May 25, 2009. URSA Major has not been able to reach an agreement with Canadian Arrow on certain matters.

Richard Sutcliffe, URSA Major's CEO stated ""With improving nickel prices, URSA Major will now focus efforts on preparations for resuming mining at Shakespeare and to revitalizing exploration on the companyPublish Post's advanced targets."

http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1018659

Canadian Arrow announces appointment of George E. Pirie to Board; Withdraws from business combination

SUDBURY, ON, July 28 /CNW/ - Canadian Arrow Mines, Limited. (CRO: TSX-V) ("Canadian Arrow" or the "Company"), is pleased to announce the appointment of Mr. George Edward Pirie, B. Com (Hons), to the Board of Directors. Mr. Pirie is President, Chief Executive Officer and Director of Breakwater Resources Limited. Mr. Pirie has 29 years experience in the mining business. In 1980 he was with Pamour Porcupine Mines, a division of Noranda, and then joined Dome Mines Limited in 1985. In 1991 he was transferred to Vancouver Corporate Offices of Placer Dome Inc. Mr. Pirie held various progressive positions in a number of Placer's divisions over approximately 20 years, including Chief Financial Officer, Placer Dome North America; Chief Financial Officer, Placer Dome Canada; President and CEO, Placer Dome Canada; and Executive Vice President, Placer Dome Inc. Mr. Pirie has served on a number of boards including the Mining Association of Canada. Mr. Dean MacEachern, CEO and director of Canadian Arrow stated, "We are extremely pleased to have the support and enthusiasm of a man of Mr. Pirie's calibre. His accomplishments, reputation and leadership are well known in the industry and provide a tremendous vote of confidence in the Company's future growth plans." He further stated, "Mr. Pirie's considerable depth and breadth of experience in the fields of corporate finance, strategic corporate development, exploration and executive management with major mining companies will considerably enhance Canadian Arrow's team as it develops its Kenbridge nickel project into production." The Company also announced today that it will not be proceeding with the proposed business combination with Ursa Major Minerals Incorporated that was previously announced on May 25, 2009, as it has not been able to reach an agreement with Ursa on certain matters. About Canadian Arrow Mines: Canadian Arrow Mines Limited is an experienced exploration and mine operating team that is focused on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Arrow operates in north-western Ontario, Canada, near the towns of Kenora and Dryden. The Company's main priority is the Kenbridge Nickel Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows: - Measured Resource: 3,546,000 tonnes grading 0.45% nickel, 0.24% copper, 0.015% cobalt. - Indicated Resource: 3,593,000 tonnes grading 0.79% nickel, 0.42% copper, 0.018% cobalt. The deposit remains open in three directions, is equipped with a 620 m shaft and has never been mined. (*) National Instrument 43-101: Mr. E. Puritch, P. Eng., Ms. Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining Consultants Inc. are the independent qualified persons for the Kenbridge resource estimates. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. Additional information on Canadian Arrow is available on SEDAR at www.sedar.com. If you would like to receive press releases via email please contact: julia@chfir.com. THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.. %SEDAR: 00008534E

Wednesday, July 29, 2009

Have you had any losses lately?

How to Deal with Losses in the Stock Market

By Ken Little , About.com

You are going to lose money if you invest in stocks. Sooner or later, it’s bound to happen. If fact, it may have happened already and you don’t recognize it because losses can take several different forms.

In its simplest and perhaps most painful form, you buy a stock then watch the price go down and stay down. At some point, you decide to end the pain and sell. (See Knowing When to Sell a two-part series on understanding when the best time to sell a stock.)

This type of loss, which involves an actual dollar amount, is called a capital loss. You can use a capital loss to offset profits (capital gains) for tax purposes. Beyond that, they aren’t worth much other than a painful investing lesson.

Lost Opportunity

There’s another type of loss that is less painful, but very real. Say you bought $10,000 worth of a hot growth stock. One year later, after some ups and downs, the stock is very close to what you paid for it.

You might be tempted to tell yourself, ‘Well, at least I didn’t lose anything.’

Not true. You tied up $10,000 of your money for a year and received nothing in return. If you had bought a bank CD, you would have at least earned a little interest.

Every stock purchase begins with a measurement against a risk-free investment such as a U.S. Treasury Note. Knowing you could earn that return with no risk, how much more can you earn with some additional risk in purchasing a particular stock.

When a stock goes nowhere or doesn’t even match the risk-free return of a bond, you are losing money.

What you lost was the opportunity to invest your money is something that would have earned you a positive return over and above the risk-free return - and that is a true loss.

Missed Profit Loss

This loss results when you watch a stock make a significant run up and then fall back, which may happen with volatile stocks. Few people are successful at calling the top (or bottom) of a market or a stock. You may feel that the money you could have made had you sold at the top is lost money.

Many investors will sit tight and hope the stock will “recover” and regain the high.

The problem is that may never happen and, even if it does, too many investors hold on hoping for even greater profits only to see the stock retreat again.

The best cure for this type of loss is to be happy with a reasonable profit and don’t try to squeeze every penny out of a stock risking a retreat and a “missed profit loss.”

Paper Loss

“It’s only a paper loss.”

“If I don’t sell, I haven’t lost anything.”

You can tell yourself whatever fibs you want, but reality is the only way out of an investing mess. If you made a mistake or something unforeseen happened and you own a stock at loss, you need to decide what to do.

If you believe the company’s long-term prospects are still good, it may be a good time to add to your holdings.

On the other hand, if you believe this is where the stock is going to stay, then your paper loss is becoming a lost opportunity and every day you sit on your paper loss is a day you could have invested your money in something that is earning you a profit.

Conclusion

No one wants a loss, but if it happens, don’t let your ego get in the way of making the right decision. Most of the time, the best course of action is to cut your losses and move on to the next deal.

Tuesday, July 28, 2009

Canadian Arrow announces appointment of George E. Pirie to Board

Canadian Arrow announces appointment of George E. Pirie to Board; Withdraws from business combination

cnw

SUDBURY, ON, July 28 /CNW/ - Canadian Arrow Mines, Limited. (CRO: TSX-V) ("Canadian Arrow" or the "Company"), is pleased to announce the appointment of Mr. George Edward Pirie, B. Com (Hons), to the Board of Directors. Mr. Pirie is President, Chief Executive Officer and Director of Breakwater Resources Limited.

Mr. Pirie has 29 years experience in the mining business. In 1980 he was with Pamour Porcupine Mines, a division of Noranda, and then joined Dome Mines Limited in 1985. In 1991 he was transferred to Vancouver Corporate Offices of Placer Dome Inc. Mr. Pirie held various progressive positions in a number of Placer's divisions over approximately 20 years, including Chief Financial Officer, Placer Dome North America; Chief Financial Officer, Placer Dome Canada; President and CEO, Placer Dome Canada; and Executive Vice President, Placer Dome Inc. Mr. Pirie has served on a number of boards including the Mining Association of Canada.

Mr. Dean MacEachern, CEO and director of Canadian Arrow stated, "We are extremely pleased to have the support and enthusiasm of a man of Mr. Pirie's calibre. His accomplishments, reputation and leadership are well known in the industry and provide a tremendous vote of confidence in the Company's future growth plans."

He further stated, "Mr. Pirie's considerable depth and breadth of experience in the fields of corporate finance, strategic corporate development, exploration and executive management with major mining companies will considerably enhance Canadian Arrow's team as it develops its Kenbridge nickel project into production."

The Company also announced today that it will not be proceeding with the proposed business combination with Ursa Major Minerals Incorporated that was previously announced on May 25, 2009, as it has not been able to reach an agreement with Ursa on certain matters.

About Canadian Arrow Mines:

Canadian Arrow Mines Limited is an experienced exploration and mine operating team that is focused on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Arrow operates in north-western Ontario, Canada, near the towns of Kenora and Dryden. The Company's main priority is the Kenbridge Nickel Project, a nickel-copper sulphide deposit containing over 44,000 tonnes of nickel in the measured & indicated classes, (Sedar, Aug. 19, 2008), as follows:

<<
- Measured Resource: 3,546,000 tonnes grading 0.45% nickel,
0.24% copper, 0.015% cobalt.

- Indicated Resource: 3,593,000 tonnes grading 0.79% nickel,
0.42% copper, 0.018% cobalt.

The deposit remains open in three directions, is equipped with a 620 m
shaft and has never been mined.

* National Instrument 43-101: Mr. E. Puritch, P. Eng.,
Ms. Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo. of P&E Mining
Consultants Inc. are the independent qualified persons for the
Kenbridge resource estimates.

Mineral resources which are not mineral reserves do not have demonstrated
economic viability. The estimate of mineral resources may be materially
affected by environmental, permitting, legal, title, socio-political,
marketing, or other relevant issues.
Additional information on Canadian Arrow is available on SEDAR at
www.sedar.com.

Monday, July 27, 2009

DEE ENERGY INSIDER BUYS

Delphi Reports Ninth Quarter of Production Growth and Increases Cash Flow and Financial Flexibility

18:48 EDT Wednesday, July 22, 2009

CALGARY, ALBERTA--(Marketwire - July 22, 2009) - Delphi Energy Corp. ("Delphi" or "the Company") (TSX:DEE) is pleased to announce its financial and operational results for the second quarter ended June 30, 2009.

Second Quarter 2009 Highlights

- Achieved record production of 6,809 barrels of oil equivalent per day (boe/d) in the second quarter of 2009, marking the ninth consecutive quarter of production growth.

- Generated funds from operations of $12.4 million ($0.16 per basic share) in the quarter, up from $10.0 million ($0.13 per basic share) in the first quarter of 2009.

- Reduced net debt to $104.1 million at the end of the second quarter of 2009, down $9.1 million from $113.2 million at the end of the first quarter, increasing total credit availability to $35.9 million.

- Drilled one well with a success rate of 100 percent on a net capital program of $3.3 million in the quarter. For the first six months, the net capital program totaled $17.3 million, approximately 77 percent of the first half cash flow.

- The Company's natural gas hedge position extends as far as December 31, 2010 at an average price of $7.34 per mcf and $6.88 per mcf for the remainder of 2009 and 2010, respectively.

- Renewed the Company's total credit facilities at $140.0 million, consisting of a revolving production facility of $125.0 million and an acquisition/development facility of $15.0 million.

Source

Petrolifera stops La Pinta No. 1 after 776 bbl/d test

2009-07-27 08:49 ET - News Release

Mr. Richard Gusella reports

PETROLIFERA PETROLEUM SUSPENDS LA PINTA NO. 1 WELL AFTER TESTING LIGHT GRAVITY CRUDE OIL, EXPERIENCING CASING BREACH BELOW PERMANENT BRIDGE PLUG; RIG TO BE TEMPORARILY RELEASED TO ANOTHER OPERATOR

Petrolifera Petroleum Ltd. has suspended the La Pinta No. 1 well, drilled solely by it on its 100-per-cent-owned Sierra Nevada licence in the Lower Magdalena basin onshore northern Colombia, after testing light-gravity 44-degree API crude oil at instantaneous measured rates of up to 776 barrels per day with limited associated natural gas and no water, from a 25-foot perforated interval at depths between 10,695 feet and 10,720 feet at the top of the Cienaga de Oro formation. Instantaneous rates are not reflective of sustainable production rates and if the La Pinta No. 1 well is remediated such that commercial production is established, these production rates may differ materially from the recorded instantaneous flow rate reflected herein.

The flow of crude oil ceased approximately 30 minutes after the above flow rate was measured. A subsequent wireline survey indicated that this likely occurred as a sand plug had formed in the well's tubing string at a depth of approximately 6,856 feet subsurface, well above the perforated interval. A coiled tubing unit was brought in to clean out the sand plug but this operation had to be discontinued due to the presence of high pressures (estimated up to 8,000 pounds per square inch) below the sand plug and the lack of pressure control on the well during the coiled tubing operation.

There was evidence, including the presence of large pieces of gravel and coarse sand found in the separators and the presence of formation water with the same salinity as that recovered with crude oil in an earlier test of a lower CDO zone, which led the company to conclude that the well may have suffered a casing split, or separation, below the perforated producing interval. This could have propagated downward from the perforations in the upper portion of the CDO due to high pressures and the fluid flow from the producing interval. The casing failure may have allowed the influx of sand and water into the well, which then terminated the flow of crude oil from the perforated interval at the top of the CDO.

The well has been suspended pending remediation of the sand problem, and the drilling rig will be released to another operator for one well for approximately 120 days. The drilling rig will then be returned to Petrolifera for future exploratory drilling, likely also on the Sierra Nevada licence, which the company anticipates renewing for one additional year. This renewal of the Sierra Nevada licence will require a work commitment of 150 kilometres of 2-D seismic and one new exploratory well, likely to be located at either the La Pinta No. 2 location on a separate, shallower prospect or at Brillante, also located on the block.

In the meantime, Petrolifera will evaluate the results of the La Pinta No. 1 well to determine the company's preferred course of action. The rapid influx of fine- to coarse-grained sand, then gravel, and the frequently high instantaneous measured flow rates recorded during the testing program of the upper perforated portion of the CDO is, in the opinion of Petrolifera's technical management, indicative of high permeability within the producing formation. It was the opinion of Petrolifera's technical management, prior to and during the drilling and test of the La Pinta No. 1 well, that the most significant identifiable risk associated with the La Pinta prospect on which the La Pinta No. 1 well was drilled was the possibility of encountering low-permeability reservoirs at the CDO level. This identified risk appears to have been mitigated, although there can be no assurance that the indication of a highly permeable reservoir, based on the influx of sand and gravel and the frequently high measured flow rates of light-gravity crude oil during the testing program, is satisfactory evidence of consistently high permeability over the entire indicated structure in the absence of further testing and drilling activity or that commercial production could be obtained from the well until there is a resolution of the sanding issues which arose during the testing program.

Oil gravities averaging 44 degrees API and assay data indicate that the oil is high quality. Other technical parameters indicate further efforts to complete the well and develop the indicated accumulation are warranted. Accordingly, consideration will be given to timely procurement of a lower-cost snubbing unit to conduct the remedial activity in the upper portion of the CDO. Subsequently, a service rig could be mobilized for the testing of the uphole zones above the CDO in the well, as warranted by drilling results and log analysis. It should also be noted that artificial lift would likely be required at an early stage of production, if not immediately, to produce crude oil from the upper portion of the CDO (if, as and when completed satisfactorily), due to the low indicated volumes of associated natural gas produced with the crude oil while being tested. The company views this situation to be constructive, as since the natural gas volumes are indicated to be low, flaring would likely be permitted. Accordingly, it is anticipated this would allow the company to produce crude oil from the upper portion of the CDO, without having to install high-cost natural gas handling facilities and without having to reinject natural gas back into the formation while producing crude oil from the indicated reservoir.

While this is not the ideal or preferred outcome of the La Pinta No. 1 testing program for Petrolifera, in the opinion of management the cumulative evidence of reservoir, free-flowing high-quality light crude oil, an indicated thick hydrocarbon-bearing section (based on drilling results, logs and some testing) and structural closure, with considerable thickness above an apparent oil/water contact, suggest considerable potential for future development and exploitation. As the drilling and testing costs of the La Pinta No. 1 well are anticipated to be approximately $25-million (U.S.), considerably over the original budget, it may in the future be prudent for the company to attract third party participation by way of farm-out or other form of similar agreement with a third party, with a view to reducing the company's prospective financial and operational risks fully and finally to evaluate the related La Pinta prospect and other identified opportunities on the Sierra Nevada I licence. This approach will be assessed in the near term and determined in the context of the broader range of projects currently in Petrolifera's inventory and having regard to the company's overall financial capacity.

The La Pinta No. 1 well was spudded as reported in Stockwatch news on Jan. 26, 2009, after a 38-day rig mobilization. The well encountered numerous drilling challenges and drilling was completed as reported in Stockwatch news on May 6, 2009. Completion operations were commenced on May 7, 2009, but testing could not commence for 14 days, as an alternate campsite had to be constructed due to landowner complications. Three packer failures contributed a further 16 days to the duration of the testing program. The well will be classified as suspended on July 27, 2009.

Exploration, appraisal and development of reserves is speculative and involves a significant degree of risk. There is no guarantee that exploration or appraisal of the La Pinta No. 1 well will lead to a commercial discovery or, if there is a commercial discovery, that Petrolifera will be able to realize such reserves as intended.

We seek Safe Harbor.

Friday, July 24, 2009

Recession is bust: Carney

BLAIR GABLE/REUTERS

Bank of Canada Governor Mark Carney laughs at a question following the release of the Monetary Policy Report July 23, 2009.

BANK OF CANADA FORECAST

Real Gross Domestic Product (percentage change, annualized rate)

-3.5%
Second Quarter

1.3%
Third Quarter

3%
Fourth Quarter

87¢
Average worth of the Canadian dollar against the U.S.

QUARTERLY REPORTS: "Extraordinary measures" by policy-makers have the economy back on track, but the governor of the Bank of Canada warns Canadians to brace themselves for the eventual return of interest rates to historically higher levels

July 24, 2009

RITA TRICHUR
BUSINESS REPORTER

Ultra-low interest rates will not last forever and Canadians should be preparing for the day when their borrowing costs eventually return to more "normal levels," says Bank of Canada Governor Mark Carney.

Carney offered that rare bit of consumer advice yesterday after releasing the bank's latest Monetary Policy Report, which predicted Canada's recession would come to a screeching halt this quarter.

While the economic recovery remains "nascent" and subject to plenty of risks, Carney stressed that "extraordinary measures" taken by policy-makers were already helping the economy get back on track.

Much of the anticipated growth is tied to the central bank's commitment to keep its key interest rate at 0.25 per cent until June 2010, provided that inflation remains tame.

When asked what guidance he'd offer Canadians on the raging "floating- versus fixed-rate" mortgage debate, Carney said it wasn't his place to offer that type of advice. Still, he did warn the days of rock-bottom interest rates would eventually end.

"There's a long way to go, but over time, things will normalize – interest rates will normalize. And the way to think about managing your personal affairs, I would submit, is can I borrow at what would be a normal rate?" Carney said.

"Because at some point down the road – and I'm not predicting when that's going to be – but if we're on track, we'll get to a point where rates are at more normal levels."

Carney also cautioned yesterday that a return to economic growth during the July-to-September quarter would not halt painful layoffs in the job market. Nonetheless, the central bank's rosier-than-expected economic forecast prompted some economists to wonder how long Carney would be able to keep the bank's key lending rate at a record low.

"On the interest rate front, Governor Carney reiterated the conditional commitment to keep rates steady until mid-2010, but warned it was not a guarantee," observed Doug Porter, deputy chief economist with BMO Capital Markets.

"Indeed, given the Bank's relatively robust growth outlook over the next four quarters, questions will increasingly build on that commitment if their call is accurate. If growth comes in even stronger, something's gotta give – rates would then be on the rise before mid-2010."

Already, improved financial conditions, firmer commodity prices and recovering consumer confidence are being factored into the impending recovery. "There is the possibility that we could get into a virtuous circle where improving confidence leads to a better economy, which leads to further improvement in confidence in financial markets," Porter said.

Bond yields, for one, soared sharply earlier this year as the market bet on a quicker-than-expected global recovery. That jump in yields led to two sizeable hikes in medium-term mortgage rates in June. For now, however, the central bank is forecasting economic growth of 1.3 per cent on an annualized basis in the third quarter – an upward revision of its earlier projection of a 1 per cent contraction for the period. That effectively means the end of the recession is imminent.

Overall, the central bank projects the Canadian economy will contract by 2.3 per cent this year, to be followed by growth of 3 per cent in 2010 and 3.5 per cent in 2011.

Inflation expectations, meanwhile, remain "well-anchored" for the medium-term, Carney said. The consumer price index is expected to decline 0.7 per cent on a year-over-year basis this quarter, but increase by 1.2 per cent during the final quarter of this year.

Thursday, July 23, 2009

DELPHI REPORTS NINTH QUARTER OF PRODUCTION GROWTH AND INCREASES CASH FLOW AND FINANCIAL FLEXIBILITY

Symbol

DEE-T

Target: $1.55 6mth target

Shares Issued

79,067,158

Close 2009-07-22

C$ 1.01

2009-07-22 19:15 ET - News Release

See This Company Report For Dee Click Here

Mr. David Reid reports

DELPHI REPORTS NINTH QUARTER OF PRODUCTION GROWTH AND INCREASES CASH FLOW AND FINANCIAL FLEXIBILITY

Delphi Energy Corp. has released its financial and operational results for the second quarter ended June 30, 2009.

Second quarter 2009 highlights:

* Achieved record production of 6,809 barrels of oil equivalent per day (boed) in the second quarter of 2009, marking the ninth consecutive quarter of production growth;
* Generated funds from operations of $12.4-million (16 cents per basic share) in the quarter, up from $10.0-million (13 cents per basic share) in the first quarter of 2009;
* Reduced net debt to $104.1-million at the end of the second quarter of 2009, down $9.1-million from $113.2-million at the end of the first quarter, increasing total credit availability to $35.9-million;
* Drilled one well with a success rate of 100 per cent on a net capital program of $3.3-million in the quarter. For the first six months, the net capital program totalled $17.3-million, approximately 77 per cent of the first half cash flow;
* The company's natural gas hedge position extends as far as Dec. 31, 2010, at an average price of $7.34 per million cubic feet and $6.88 per million cubic feet for the remainder of 2009 and 2010, respectively;
* Renewed the company's total credit facilities at $140.0-million, consisting of a revolving production facility of $125.0-million and an acquisition/development facility of $15.0-million.

FINANCIAL HIGHLIGHTS
(thousands of dollars except per-unit amounts)

Three months ended Six months ended
June 30, June 30,
2009 2008 2009 2008

Petroleum and natural
gas sales 23,229 38,569 47,434 70,781
Per boe 37.49 68.33 38.62 63.45
Funds from operations 12,371 19,965 22,388 37,024
Per boe 19.97 35.37 18.23 33.18
Per share -- basic 0.16 0.29 0.28 0.54
Per share -- diluted 0.16 0.28 0.28 0.53
Net earnings (loss) (2,817) 49 (6,137) (690)
Per boe (4.54) 0.09 (4.99) (0.62)
Per share -- basic (0.04) - (0.08) (0.01)
Per share -- diluted (0.04) - (0.08) (0.01)
Capital invested 3,602 7,489 17,694 33,987
Disposition of
properties (74) (2,950) (225) (2,950)
------ ------ ------ ------
Net capital invested 3,528 4,539 17,469 31,037
Acquisition of
properties (218) 3,850 (218) 3,850
------ ------ ------ ------
Total capital 3,310 8,389 17,251 34,887

Message to shareholders

Despite the 30-per-cent drop in the AECO natural gas price in the second quarter as compared with the first quarter of 2009, Delphi accomplished modest growth in average quarterly production volumes, stronger cash flow than in the first quarter and in combination with a minimal capital program, achieved significant net debt reduction during the quarter. At the end of the second quarter, the company had increased its financial flexibility with $35.9-million of available credit lines. The company believes it is well positioned for sustainable long-term, organic growth in any business environment. The global recession continues with commodity prices remaining under pressure, however, Delphi believes it can operate effectively in these challenging times and is in a position of relative strength to many of its peer group.

During the second quarter, the company's field operations were limited due to spring breakup. The company was, however, able to begin its summer capital program by mid-June with the completion of drilling operations on a well (1.0 net) at Hythe, Alta., by the end of the second quarter and undertook several recompletions. Fracture stimulation and tie-in operations of the drilled well will be completed in the third quarter. The focus of the summer capital program will continue to be directed toward the Hythe and Bigstone properties to take advantage of the multizone nature of these assets, low operating costs and quick on-stream capability associated with owned gathering and processing infrastructure. Total net capital expenditures for the second quarter were $3.3-million.

Production during the second quarter of 2009 averaged 6,809 boed, an increase of 10 per cent compared with 6,202 boed in the second quarter of 2008 and 1 per cent greater than the first quarter in 2009 of 6,762 boed. Second quarter production represented Delphi's ninth consecutive quarter of production growth. New production from the company's successful first quarter capital program contributed significantly to this modest growth in second quarter production despite significant turnarounds at Bigstone and the company's northeast British Columbia operations during the quarter.

Delphi's production continues to receive a premium to the price at AECO due to marketing arrangements, heating content and natural gas hedges. Approximately 53 per cent of the company's natural gas production was hedged at an average price of $7.38 per million cubic feet in the second quarter, resulting in a gain on natural gas contracts of $7.0-million. Delphi's realized natural gas price of $5.81 per million cubic feet in the second quarter represented a premium of 67 per cent to the average AECO price in the quarter.

Funds from operations in the second quarter of 2009 were $12.4-million (16 cents per basic share) compared with $20.0-million (29 cents per basic share) in the second quarter of 2008, primarily as a result of significantly lower average oil and natural gas prices being partially offset by increased production volumes, reduced royalty rates and an 8-per-cent reduction in cash operating costs per barrel of oil.

At June 30, 2009, the company had net debt of $104.1-million, a $5.1-million decrease from $109.2-million at Dec. 31, 2008. The decrease in net debt during the first six months of 2009 resulted from Delphi's successful capital program totalling only $17.3-million or 77 per cent of the cash flow generated in the first six months of 2009. The company's debt-to-cash-flow ratio on an annualized 2009 cash-flow basis was reduced to 2.3:1 at the end of the second quarter from 2.8:1 at the end of the first quarter. Net debt includes bank debt plus working capital deficiency excluding the risk management asset and the related current future income taxes liability.

The annual credit review by the company's lenders was completed in the second quarter. The company's lenders continue to be National Bank of Canada and Bank of Nova Scotia. The total credit facilities were renewed at $140.0-million comprising a revolving $125.0-million production credit facility and a non-revolving $15.0-million acquisition/development credit facility. At the same time, the pricing on the facilities had been adjusted to reflect current market rates for credit facilities of this nature. All other terms of the credit facilities remain unchanged from the previous arrangements.

Northwest Alberta

During the second quarter, Delphi achieved record production volumes as a result of the successful first quarter drilling, workover and optimization program primarily focused in the Hythe and Bigstone areas. Operations during the second quarter were limited in scope due to spring breakup which typically restricts the ability to conduct drilling and workover operations until late in the quarter. Operational activities in the second quarter were focused on moving forward projects that would build upon the successes in the first quarter and position the company to exploit its predictable, repeatable and capital efficient opportunities.

Hythe

At Hythe, the company drilled and cased one vertical gas well (1.0 net) during the second quarter. Completion operations have been initiated and a total of six zones will be completed based on log analysis. This well offsets other Delphi producers that have initial three-month average production rates ranging from 250 to 600 boed. As a follow-up to the Doe Creek light oil discovery first announced in Stockwatch in September, 2008, Delphi has recompleted a 100-per-cent-working-interest well which offsets the discovery well. The recompletion was successful and the well tested at rates in excess of 225 barrels of oil per day (bbls/d) over a 48-hour flow period. The well has been tied in to Delphi's infrastructure and has been placed on production at a stabilized rate of 160 bbls/d. A horizontal well offsetting the successful oil recompletion has been licensed and will spud prior to the end of July to calibrate the productivity enhancement and increased reserve recovery associated with a multistage fracture completion. In reservoirs of this nature, initial production rates and reserve recoveries for horizontal wells are typically two to three times that of vertical wells.

The company is continuing to move drilling, recompletion and optimization projects forward by obtaining the regulatory and partner approvals necessary for project execution. Timing of the individual projects will be dependent upon commodity pricing and results from completed operations. The second half capital program at Hythe was generated from a project list that exceeds $48.0-million allowing for operational flexibility in regards to project selection. Delphi currently has eight vertical wells and four horizontal wells licensed or in the process of being licensed for the contemplated remaining 2009 capital program.

Technical and operational activities are continuing in an effort to unlock the large volumes of gas in place associated with the Nikanassin formation. One of the vertical wells drilled in the first quarter was successfully completed in the Nikanassin and was mechanically isolated during the second quarter while a prolific uphole Cretaceous sand was production tested. The company is now in the process of commingling the Nikanassin with several uphole Cretaceous sands with a completion design that will allow for long-term performance monitoring of the Nikanassin formation. Pressure transient analysis indicates this well has experienced only minimal pressure depletion even though it is located 775 metres from an offset Nikanassin completion that has cumulative production of 2.2 billion cubic feet. The pressure and production data support the volumetric calculations of 15 billion cubic feet per spacing unit in this part of the Hythe field. A regional study has been initiated to characterize the porosity and permeability relationships, define geologic depositional models and understand the effects of various drilling and completion practices. The outcome of this study will allow Delphi to optimize development of the Nikanassin resource in relation to deliverability and reserve recovery. Toward that end, the company has identified multiple Nikanassin recompletion opportunities to be pursued in the second half of the year.

Delphi continues to take advantage of attractive opportunities resulting from the current business environment through the acquisition of undeveloped land. During the second quarter, the company successfully participated in several Crown land sales acquiring 1,280 gross acres at a working interest of 100 per cent.

Bigstone

At Bigstone, the company has licensed and built a location in preparation for drilling an offset to a successful first quarter well that averaged 650 boed gross over the first three months of production. In addition, Delphi is continuing to evaluate performance results from several Cardium oil pools on the Bigstone lands and is monitoring industry activity along trend in the Cardium formation. Delphi currently has identified six potential Cardium horizontal oil wells of which two are in the process of being licensed for the contemplated remaining 2009 capital program.

Outlook

Natural gas prices have continued to weaken throughout the first part of the year and are at risk of further reduction as a result of natural gas supply in excess of demand, particularly due to reduced industrial demand from the lower economic activity in North America. Delphi will manage its capital spending prudently in light of the fact that potential lower natural gas prices may prevail for the remainder of 2009. As in prior years, the company's risk management program provides stability to the company's cash flow for the remainder of the year allowing a minimum level of capital to be incurred.

The company will continue to be disciplined in its capital spending, focusing on the lowest-risk development projects in its core areas of Bigstone and Hythe. Drilling to develop the resource potential in the Bluesky, Dunvegan or Nikanassin formations from the Hythe property will be considered as part of the second-half capital program. Operational risk, capital required and overall capital efficiencies will be the driving factors in pursuing the resource-type plays in the current and expected low natural gas price environment. The board of directors has approved a second-half capital program of $18.0-million to $23.0-million for a total capital program of $35.0-million to $40.0-million in 2009.

Cash flow for 2009 is forecast to be between $38.0-million and $43.0-million on an average natural gas price for AECO of approximately $4.25 per million cubic feet. The company has hedged approximately 51 per cent of its natural gas production at $7.34 per million cubic feet for the remainder of 2009 to achieve this forecasted cash flow. Over the year and based on its current capital program, Delphi expects an overall reduction in net debt of approximately $2.0-million to $4.0-million from the amount outstanding at Dec. 31, 2008.

Delphi remains confident in its ability to achieve continued per-share growth during these challenging times. The company's expanding inventory of drilling locations gives rise to continued optimism for growth beyond 2009.

On behalf of the board of directors and all the employees of Delphi, the company would like to thank its shareholders for their continued support and patience in these very difficult and uncertain economic times. Delphi's team effort remains focused on sustainable economic growth while maintaining the financial strength and flexibility to take advantage of strategic opportunities which may arise in the coming year.

Conference call

A conference call is scheduled for 9 a.m. (Mountain Time) (11 a.m. Eastern Time) on Thursday, July 23, 2009. The conference call number is 800-565-0813 or 416-695-6616. A brief presentation by David Reid, president and chief executive officer, and Brian Kohlhammer, vice-president, finance and chief financial officer, will be followed by a question-and-answer period.

If you are unable to participate in the conference call, a taped broadcast will be available until Aug. 6, 2009. To access the replay, dial 800-408-3053 or 416-695-5800. The passcode is 3752405. Delphi's second quarter 2009 financial statements and management's discussion and analysis are available on Delphi's website and will be available on SEDAR within 24 hours.

We seek Safe Harbor.

Wednesday, July 22, 2009

While U.S. gasoline sales have slumped, Canadian consumption has soared to a new high

Heather Scoffield and Jennifer MacMillan

Ottawa, Toronto — Globe and Mail Update Last updated on Wednesday, Jul. 22, 2009 08:16AM EDT

Thanks to his Ford Ranger, house painter Richard Gouveia has kept on trucking through the recession, relying on his pickup to get to work from his Toronto-area home and to haul gear from one job to another.

After a slump in business last year, Mr. Gouveia said he's now driving as much as he ever has.

Like many other Canadians, he hasn't cut back on the gas he uses, despite the recession, and in stark contrast to Americans who have changed their driving habits.

Gasoline consumption in Canada hit a record in April as consumers spent $1.839-billion, Statistics Canada said yesterday, using data adjusted to eliminate price changes and seasonal factors.

In the United States, in contrast, gasoline consumption dropped sharply late last year, and has since stabilized at a lower level, according to data from the U.S. Bureau of Economic Analysis. Mileage has also dropped sharply for American drivers.

Gasoline graphic

The Statscan numbers show consumption rose 3.6 per cent in April from a year earlier, although there's no specific data for 2009 to suggest Canadians are driving more or are returning to gas guzzlers.

But the fact that Canadians are doing better than Americans means they're not facing the same pressure to drive less, said Michael Ervin, president of refining and marketing consultancy MJ Ervin & Associates.

“People still have to get to work and pick up groceries,” he said from his Calgary office. “We haven't seen any discernible decline in demand.”

Mr. Ervin also pointed out that gas prices in April were lower than they were last year, despite being on the rise since the beginning of this year. But Canadians haven't been immune to the effects of the global recession and high gas prices.

Last summer, drivers cut back as the slump took hold in Canada and gasoline prices soared.

But consumption climbed again last fall and stabilized during the darkest days of the downturn. And when the labour market slowed its freefall this spring, gasoline consumption resumed its upward track.

Canadian gas use isn't higher across the board – sales of low-sulphur diesel, used by transport trucks, fell 7 per cent in the first four months of 2009 from last year. The drop was steeper in Ontario, which saw a 15-per-cent decline as manufacturers shuttered operations over the past year.

However, Philip Cross, chief economic analyst at Statistics Canada, said the latest gas use numbers are another sign that employment and incomes are not declining as much in Canada as in the U.S.

In Canada, auto sales have also picked up – in May, sales of new motor vehicles rose 1 per cent from April, mainly because of a 2.2-per-cent increase in sales of trucks, vans and buses. Over the past year, car sales have plunged 24 per cent, but truck sales have only fallen 4.6 per cent, Statscan said.

Many Canadians are still driving the compact cars they bought last year and earlier, when gasoline prices were rising, said Benjamin Tal, an economist at CIBC World Markets. However, with their more efficient cars, Canadians are also showing a tendency to drive more as they take advantage of their savings – a paradox of efficiency, he said.

“What you're seeing now is the ‘efficiency paradox' working beautifully,” he said. “You drive more miles because you think you're saving money.”

Fuel efficiency has improved so much that vehicles in Canada use 9.8 litres to travel 100 kilometres on average, the first time that number has fallen below 10 litres.

Auto industry analyst Dennis DesRosiers said he's skeptical that Canadians are spending more time on the road.

“Two-thirds to three-quarters of driving is related to work,” said Mr. DesRosiers, president of DesRosiers Automotive Consultants Inc. in Richmond Hill, Ont. “With these unemployment rates, the total amount of driving is down, absolutely down.”

Bob Bentley of the Freedom Ford dealership in Edmonton said he has seen a growing interest in fuel-efficient cars, but not from his truck-driving customers.

“In rural areas, people have always favoured trucks over cars and that trend hasn't changed,” Mr. Bentley said.

He added that trucks have also been insulated from big fluctuations in sales because of the built-in demand from people who need them for work, such as Mr. Gouveia back in Ontario. With files from reporter

Greg Keenan in Toronto

TSX's six-session winning streak snapped

TheStar.com - Business -

TSX's six-session winning streak snapped

Loonie backs off early gains after central bank warns strong currency harming pace of growth
July 22, 2009

The Toronto stock market closed lower yesterday despite another series of positive earnings reports and optimistic outlooks.

The S&P/TSX composite index broke a six-session winning streak, falling 25.39 points to 10,515.32. The drop came after the index jumped almost 800 points, riding a wave of higher oil prices and earnings reports that raised confidence the economy is improving.

"This is the most solid evidence we've seen that conditions are improving," said Jack Ablin, chief investment officer at Harris Private Bank in New York.

The Canadian dollar backed off from early sharp gains after the Bank of Canada warned the higher value of the loonie, as well as ongoing restructuring in key industrial sectors, is significantly moderating the pace of overall growth. The comment came as the bank said it was leaving its key interest rate unchanged at a quarter point.

The loonie has risen sharply over the past 10 days, benefiting from a weak U.S. dollar and the recent surge on global stock markets. The loonie declined 0.02 of a cent yesterday to 90.33 cents (U.S.), after earlier hitting the 91 cent level.

The industrials sector was the leading group, up 2.1 per cent after Canadian National Railways said it expects its business has hit bottom and volumes should pick up steam in the second half of the year.

CN said that a weakened North American economy and global slowdown caused second-quarter profits to drop nearly 14 per cent to $387 million (Canadian). Revenues fell to $1.78 billion from $2.1 billion.

"We were happy with the numbers, all things considered," said Garey Aitken, chief investment officer at Bissett Investment Management. "There's no getting around the fact volumes are way down for the transport industry. That has a big impact on revenues."

CN shares rose $1.06 to $50.55, while Canadian Pacific advanced $1.67 to $43.55.

Mining stocks were the biggest drag on the TSX. The gold sector shed 1.5 per cent as the August bullion contract in New York stepped back $1.90 to $946.90 (U.S.) an ounce. The base metals group was off almost 2 per cent. The September copper contract fell 1.8 cents at $2.451 a pound.

The TSX Venture Exchange slipped 3.45 points to 1,114.64.

New York markets extended gains as the Dow Jones industrials climbed 67.79 points to 8,915.94.

The Nasdaq composite rose 6.91 points to 1,916.2 while the S&P 500 index was up 3.45 points to 954.58.

Pleasing investors was U.S. heavy-equipment maker Caterpillar Inc., which boosted its 2009 profit outlook. Its shares jumped $2.81, or 7.7 per cent, to $39.46.

The TSX energy sector lost 0.43 per cent as the August crude contract on the New York Mercantile Exchange rose 74 cents to $64.72 a barrel.

The Canadian Press

Tuesday, July 21, 2009

PDP-T Curr. Fiscal Year EPS estimate upgrade x.32 cents per share

WebBroker Alert

========================

PDP-T Curr. Fiscal Year EPS estimate upgrade

20-Jul-2009 09:04 PM

PDP-T
Curr. Fiscal (new): .21
Curr. Fiscal (past): -.11
Curr. Fiscal Change %: .32

Shares: 54,948.000 x .32=$17,533,360.00

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TD Waterhouse Canada Inc. is a subsidiary of The Toronto-Dominion Bank. TD Waterhouse Canada Inc. - Member CIPF. These products and/or services are only offered in jurisdictions where they may be lawfully offered for sale.
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Monday, July 20, 2009

PDP Float Is Small And The Run Up Will Be Large -If Results Are as Expected

A Large Cross 123,500 Shares

The information posted on Stockhouse Bullboard

as show below is false according to CEO,

I have posted the relevant quote from the email`

and I quote Mr. Gusella

`No insider sold stock. Your information is incorrect based on the advice of counsel. All insiders of the company are in a blackout and have been for a protracted period of time. Any information provided suggesting there was an insider selling is wrong.

A former director may have sold stock and continued to be listed as an insider - that would have been related to exercise of options within 90 days of leaving the board. But such a person is no longer an insider and is not privy to any inside information.

You only lose money if you have sold. If the stock is down I suspect it will come back. Most analysts wrote today suggesting short term weakness but with healthy targets including some in the $3 plus range awaiting results form the La Pinta well which have not yet been released as testing is not yet complete.

I am obligated to issue the release based on our decision not to sell Argentina as there were no "acceptable" bids - there were many bids. We operate on the basis of full, plain, true, timely and material releases based on reliable information after due review by counsel and our technical and financial staff. I have no conclusive information yet about the La Pinta well so it is premature to conclude we cannot find oil in Columbia (sic).

We could have sold our business in Argentina but we chose not to.

Investors sold 792,800 shares and investors bought 792,800 shares.

We have not had a losing quarter. The stock market perception of our business has resulted in lower share prices but you will recall there were profound negative impacts from Argentina freezing the oil price.`` Richard Gusella CEO

I have searched for Insiders Buy/Sells,

I see nothing that shows Insiders dumping

Be careful of shorts on Stockhouse,

they just want to take your shares.

#1 Click Here To See Insiders Report On PDP

#2 This is Todays Report On Insiders At PDP

Saturday, July 18, 2009

Email Lottery Scammers - I won!!!!

Lottery E-mails and Lottery Scams

Lottery e-mail scams include sending unsolicited (spam) e-mails that say that you've won millions of dollars for a variety of reasons other than the purchase of a lottery ticket. Generally, these e-mails originate somewhere outside the US, where the criminals can safely scam you, with virtually no chance of getting arrested or prosecuted. At some point, they will ask you to pay some fee or fees to claim your prize. Once you are onto their scam, they will disappear and your chance of any type of recovery is essentially none. We have included several recent examples. website source

In my email box today-
Do People Still Fall For This Crap?
They must, fraudsters keep spamming email!

Friday, July 17, 2009

Anonymous Accumulation Of PDP #1=Smart Money

Petrolifera CEO Refutes Insider Sale Claim

The information posted on Stockhouse Bullboard

as show below is false according to CEO,

I have posted the relevant quote from the email`

and I quote Mr. Gusella

We could have sold our business in Argentina but we chose not to.

Investors sold 792,800 shares and investors bought 792,800 shares.

I have searched for Insiders Buy/Sells,

I see nothing that shows Insiders dumping

Be careful of shorts on Stockhouse,

they just want to take your shares.

#1 Click Here To See Insiders Report On PDP

#2 This is Todays Report On Insiders At PDP

Thursday, July 16, 2009

Petrolifera to keep Argentine assets, Q2 results Aug. 6

The stock has bottomed according to the technical analysis

Buy now for the next run up.

Thomas Weisel Shares In The Last 1 mth

Thomas Weisel Crosses 50,000 shares today

Remember At The Moment PDP Has A Small Public Float

I have searched for Insiders Buy/Sells,

I see nothing that shows Insiders dumping

Be careful of shorts on Stockhouse,

they just want to take your shares.

#1 Click Here To See Insiders Report On PDP

#2 This is Todays Report On Insiders At PDP

PDP IS WAY OVERSOLD AND WILL SPRING BACK WITH MODEST BUYING

Sheeple Running And Why?

Stupidity In My View

Brokers Accumulation While Retail Sheep Sell Low

This news release was not the 1 we hoped for, but

PDP generates profit from over 6500 barrels of oil per day

And they will continue the Columbia Drilling And Evaluation

Its bargain basement buying day!

Petrolifera to keep Argentine assets, Q2 results Aug. 6

2009-07-15 17:15 ET - News Release

Mr. R.A. Gusella reports

PETROLIFERA TO RETAIN ARGENTINEAN OPERATIONS, COMMENTS ON LA PINTA TESTING

Petrolifera Petroleum Ltd.'s bids received in respect of its Argentinean operations were unacceptable. Accordingly, Petrolifera has concluded the sale process and will retain its assets in the country.

A continuing capital program will be developed and initiated over the next several months to maximize production levels at Puesto Morales Norte and to fulfill modest remaining work commitments on its exploratory lands at Vaca Mahuida, Puesto Guevara and Gobernador Ayala II. A multiwell heavy oil drilling program has been under way at Gobernador recently and the results will be assessed to determine future exploitation opportunities.

In Colombia, Petrolifera has completed the testing of several zones in one formation at depth in the La Pinta well and is continuing its evaluation program of various uphole zones. The testing of the well has been problematic due to overpressuring, difficult hole conditions even though the well is cased, challenges with equipment failures compounded by the aforementioned issues and other factors. It is hoped the evaluation program of all important zones of interest, which can be tested in this well, will be completed shortly. At such time, definitive results will be communicated to the company's shareholders and capital markets.

Petrolifera anticipates providing its second quarter 2009 and year-to-date 2009 operating and financial results to capital markets on Aug. 6, 2009, and a conference call will be scheduled for the morning of Aug. 7, 2009.

Details for the conference call will be provided in the press release providing the aforementioned results.

We seek Safe Harbor.

Stockhouse Poster investorguy11 says:

At first glance this news doesn't seem that great. However one has to consider the improvements in the markets and price of oil since PDP announced their intent to divest of their Argentina assets for the right price. Not only that, but this news may be a net positive for the company in the months ahead.

Fact is, their Argentina assets produce $10-15+ million in cashflows per quarter and could increase even more so with Argentina's recent efforts to have active producers capture more profits from higher world oil prices.

Add to that the quite likely few thousand plus boepd PDP could pick up from their La Pinta well and they could have production in excess of 10k boepd easily in the near future. Their second well in Columbia could add another few thousand plus boepd. Cashflows will ramp up significantly, as will reserves.

While we wait for the final numbers in Columbia and production to begin, it's not such a bad thing to have production and cashflows continuing to come in from the Argentina assets. Petro Andina recently rejected a bid for around $8 per share and immediately moved to the $9 range after the bid was received.

This bodes well for the value of Petrolifera's Argentina assets. Bottom line is that there is no benefit to shareholders if PDP were to divest of their Argentina assets at a significant discount to their worth and coming out the market we were in until mid March, it's no surprise that bidders were making inadequate offers. At the end of 2008 the 10% PV of 2P reserves for Argentina alone were worth about $6 per share and 3P over $9.

The value of Petrolifera's concessions in Columbia and Peru are worth multiples of the current stock price and in due time the market will have no choice but to take notice. Check out the flow rates on PMG's (Petrominerales) Corcel block wells in Columbia.

The upside with PDP exploration/production in Columbia and Peru is huge.

This is only their first high impact well. Things can only get better from here.

Go PDP!

Report Insider To The Ontario Security Commission Who Sold Ahead Of The News Release Here http://www.osc.gov.on.ca/Investor/Complaints/cpt_index.jsp

Wednesday, July 15, 2009

Bankers Petroleum Ran Up 16.62 % Today

We’ve written up Bankers Petroleum a bunch, so you
know that it’s one of our favorite stories out there and we
will continue to follow it rather closely.

Yesterday, the company announced some updates in-
cluding the pleasant surprise that production for the quar-
ter came in at 6385 barrels a day, which was a little higher
than expected.

Genuity Capital analyst Jamie Somerville writes those
numbers were “slightly ahead of our assumption of 6,100
Bbl/d. In addition, realized prices of $35.11/Bbl reflect 55%
of Brent, compared to our assumption of 54% of Brent.”
Somerville writes,

“Bankers remains our top pick in our
coverage of International E&Ps based on that relative
valuation discount, and expectations for reserves and pro-
duction growth.”
Meanwhile, it was also announced that the company
had some warrants exercised by some of their interna-
tional bankers, putting another $12 million in their bank.
They should be having a very active drilling program over
the next six months and drilling on their second horizontal
well (No. 5014) in the Patos Marinza field commenced on
July 8th and is scheduled to reach total measured depth
by the end of this month.

Somerville gives Bankers a target of $3.20 over the next
12 months. Terry Peters of Canaccord Capital ups his
target on Bankers to $3.20 as well. Raymond James has
raised their target on Bankers from $3.00 to $4.00 and we
also suggest that one of the best reports we’ve seen on
the company was done by Kevin Shaw out of Wellington
West, also with a $4.00 target. To get a copy though, one
has to e-mail the analyst directly at kshaw@wwcm.com.
Meanwhile, if you are looking for a great place to vaca-
tion in a place that’s a little different, why not consider
Albania? Just north of Greece with the same type of gor-
geous beaches and water, but totally undeveloped be-
cause of the decades ruled by Hoxha.

It’s also dirt-cheap
which should appeal to all the young travelers of the world
that seem to be going a long way away to Thailand these
days. Albania is definitely an alternative.

How cheap is it?
In a beautiful café in the mountains, two Heinekens and a
cappuccino is yours for $5.00 Cdn.

Monday, July 13, 2009

Pescod Writes Today BANKERS PETROLEUM (T-BNK)

BANKERS PETROLEUM
(T-BNK)

So after one of the biggest market crashes ever and fol-
lowed by one of the biggest rallies ever (and once again a
correction) what next? We mentioned on Friday, Bob Hoye
of Chartworks has had a pretty good sense of timing over
the last year or so—not perfect, but a lot better than most.

He is predicting over the next couple of months for the
resource sector, we have a bit of consolidation, but then
things could get quite good again as he is expecting the fall
is the time to get back into energy stocks and he had some
really interesting comments about gold for that time period
as well.
This goes hand in hand with the usual resource cycle,
which is buy in early fall and sell in April, so his expecta-
tions for the gold and oil and gas sector aren’t that much out
of a normal cycle at all.

So we will take this time to take a look at three of our fa-
vourite stories as we narrow down a long list and look for-
ward to a time in the next few weeks and months of shop-
ping and stink-bidding.

Bankers Petroleum:

We’ve learned over the years that it’s very
important for any company you invest in to make sure that
the country or province or state is a good place to be in-
volved. Over the last six months or so, more than a few peo-
ple have got to be shaking their heads about what is going
on with the Premier of Alberta and what he is doing.

First he raises royalty rates to some of the highest in Canada and
sends the oil and gas business packing to Saskatchewan
and BC. Lately he has lowered the royalty rates and after
just increasing alcohol taxes, he has reduced them in just a
matter of weeks and then he is going to reduce tobacco
taxes. Sounds like a little bit of an iffy place, doesn’t it?
Yes, the Alberta oil and gas players have got to be shaking
their heads…
Meanwhile we were off to Albania, a country that suffered
for 30-some years under the dictatorship of Hoxha and right
now, all of the people we met in Albania are dying to have
what the western world takes for granted and they will do
what it takes to get there.

Where else have you seen a gov-ernment pass laws to make sure there is less regulation out
there so that projects can get done. You get over there and
see the new roads being built, the housing being built and
while much of the western world might be slowing, in Alba-
nia, things are going the right way. Mind you, from a lower
level. The other thing about visiting Albania is that when
you see

Bankers project in southern Albania, you realize the scale of it.

Go over a small hill and a valley is just full of hundreds
and hundreds of old derricks from the Chinese and Russian
days. Go over another hill and there’s another couple of
hundred or thousand rigs or so and it just keeps on going as
far as the eye can see. No wonder the analysts and others
debate and wonder whether it’s four billion barrels of re-
sources that they have or six or eight or who knows? It’s
enormous.

Abby Badwi and his team of Doug Urch from the old Rally
days are going to try and replicate exactly what they did in
Egypt. Take an old, heavy oil project, use new technology
and try to increase production and the resource numbers.
Whether he’s going to try and do that for one year or two
years, before the assets are sold to someone really big, who
can really turn up the temp is open to debate, but with a team
that has done it before, we suspect can do it again and we
also suspect down the road, higher oil prices will help.

The best report out there that we would consider manda-
tory reading would be a recent one by Kevin Shaw of Wel-
lington West that gives Bankers Petroleum a $4.00, one-year
target.

In talking with Kevin, he suggests it could be as
much as two years before the company is sold and we love
his tasty target for a 2-year target.

Keegan Resources: The one thing about Bob Hoye that might
get you a little bit excited about gold is his most recent July
7th report where he points out that at the end of every dec-
ade, there has been an enormous run in something. Every
year over the last 40 years ending in a “9” has seen some-
thing explosive...be it the Nikkei Index in Japan going
through the roof, the price of gold decades ago doing the
same, interest rates, or the flight that NASDAQ took. Hoye
suggests that this time, it could well be gold which he feels
is currently consolidating.

He points out that if gold goes through its old highs, there
are not too many analysts out there that wouldn’t expect
$1250 to $2500 for gold.

While I can’t see a sign of inflation out there anywhere,
anytime soon, there is an awful lot of money flooding into
gold-based ETF’s these days—meaning that suddenly, it’s
not just the gold bugs that are interested in gold anymore.
It’s still a very debatable topic, but we’ll see.

In the meantime, Keegan is a play in a country where gold
is starting to play a big role (Ghana) and more importantly,
they want the jobs. They are encouraging development in
the business and gold resources in the country already ap-
proach more than 100 million ounces.

Biggies that are players there, such as Newmont and
there’s more than a few people following Keegan that wonder
how long before Keegan could disappear.
In the meantime, the debate remains whether they have 3
1/2 or 4 1/2 million ounces that additional exploration over
the next six to eight months, could add considerably to what-
ever number you want to use.

Should gold prices go, all gold stocks should participate,
but Keegan is one that is followed by only two analysts that
we could find, but we suspect over the next eight weeks,
many more analysts will start discovering this story and add
following to Keegan, which currently is rather an illiquid and
volatile stock.

On a spike up, it previously hit $4.00, and it’s your for sale
for significantly less. For those who would like a decent back-
ground report, e-mail Debbie for a look-see by Nicholas Camp-
bell who has a $5.00 target on the stock.

Wavefront Energy: If you were in the market over the last few
years, it doesn’t matter what sector you were in, you got
beaten up.

If you were in the junior cap stories, you got beaten
up more than most because the juniors offer the leverage. But
hey—18 months ago, who would have ever thought companies
such as Oilexco or GM would both have gone bankrupt?
To get some of that money back, you need to find doubles
or once in a while take a risk. Wavefront is definitely a risk and
we all know that the higher reward you are hoping for means
the bigger risk you are taking and that is Wavefront.

They’ve been working on new technology for the oil and
gas patch over the last 12 years or so and have spent the last 2
years setting up a public company and try and get a new tech-
nology that they’ve developed for the oil and gas patch ac-
cepted as standard.

So far, they’ve only got about 80 tools out in the patch and
they need 120-150 to break even. They also need that one big
contract by that one big company that would make their tech-
nology industry standard.
In the meantime, the world is full of old oil fields where 30%
or 40% of the resource has been captured. A new technology
that could grab another 10, 15 or 20% could/would revolution-
ize the oil and gas business and should create a huge, new
market.

But the oil and gas patch is slow to adopt new tech-
nologies because usually new technologies involves big
money and if it doesn’t work, it looks bad on somebody’s re-
sume. This is not an expensive new technology, but it still is
new.
In the meantime, the market has been lousy, there is a big
hedge fund selling the stock and more than a few people that
have been following this story for a while have been disap-
pointed at how long it has taken for the technology to be ac-
cepted.

For the best background look at this company, go to Keith
Schaefer’s website at www.oilandgas-investments.com to fol-
low this story. As Schaefer writes, this is potentially a five or
ten-bagger from the $0.70 level where he bought it and of
course, if you are taking the risk on a story like this, that’s the
kind of reward you are hoping for.

In the meantime, looking at contracts that the company
hopes to land, some of those hopes could be quite timely in
the next four to six weeks.

PDP Will Release News At Any Time- Be Invested!

Friday, July 10, 2009

PDP accumulation And Prices Rises Fast-Buy Now!

Made To Stick Ideas - Read This

Here's An Idea That Sticks...

A friend of a friend of ours is a frequent business traveler. Let's call him Dave. Dave was recently in Atlantic City for an important meeting with clients. Afterward, he had some time to kill before his flight, so he went to a local bar for a drink. He'd just finished one drink when an attractive woman approached and asked if she could buy him another. He was surprised but flattered. Sure, he said. The woman walked to the bar and brought back two more drinks — one for her and one for him. He thanked her and took a sip.

And that was the last thing he remembered.

Rather, that was the last thing he remembered until he woke up, disoriented, lying in a hotel bathtub, his body submerged in ice. He looked around frantically, trying to figure out where he was and how he got there. Then he spotted the note: don't move. call 911.

A cell phone rested on a small table beside the bathtub. He picked it up and called 911, his fingers numb and clumsy from the ice. The operator seemed oddly familiar with his situation. She said, "Sir, I want you to reach behind you, slowly and carefully. Is there a tube protruding from your lower back?"

Anxious, he felt around behind him. Sure enough, there was a tube. The operator said, "Sir, don't panic, but one of your kidneys has been harvested. There's a ring of organ thieves operating in this city, and they got to you. Paramedics are on their way. Don't move until they arrive."

You've just read one of the most successful urban legends of the past fifteen years. The first clue is the classic urban-legend opening: "A friend of a friend . . ." Have you ever noticed that our friends' friends have much more interesting lives than our friends themselves?

You've probably heard the Kidney Heist tale before. There are hundreds of versions in circulation, and all of them share a core of three elements: (1) the drugged drink, (2) the ice-filled bathtub, and (3) the kidney-theft punch line. One version features a married man who receives the drugged drink from a prostitute he has invited to his room in Las Vegas. It's a morality play with kidneys.

Imagine that you closed the book right now, took an hourlong break, then called a friend and told the story, without rereading it. Chances are you could tell it almost perfectly. You might forget that the traveler was in Atlantic City for "an important meeting with clients" — who cares about that? But you'd remember all the important stuff.

The Kidney Heist is a story that sticks. We understand it, we remember it, and we can retell it later. And if we believe it's true, it might change our behavior permanently — at least in terms of accepting drinks from attractive strangers.

This is an amazing book of ideas that can help your business, investments, and life check it out!

PDP Will Catapult Up Fast - Markets Will Rally For Summer 1 x

Bidders Building For PDP

Thursday, July 9, 2009

The Boomers Prayer

How about you?

Wednesday, July 8, 2009

PDP-T - Retail Fools Selling To Smart Money

The 4 Top Buying Houses Are Pro Traders

The Largest Sellers Are Retail Based Bank Trades

RBC,BMO,National Bank

Anonymouse is just dragging down the price so that Pro Traders Can Absorb Shares

All Markets Are Down ToDay Includes Oil

Thomas Weisel Is A Net Buyer in the Last 30 Days Of 147,900 Shares or Net $444,855.00

Do you think they are buying because they have fear of a dry hole or a failed sale of Argentina Assetts.

Give your head a shake your eyes are stuck.

Anonymous is manipulating the stock down while Weisel absorbs shares at lower prices.

The game Weisel is playing is working perfectly.

They are causing sheeple to sell while absorbing shares cheap.

The great news is pending and the smart money is causing the stock to fall to allow them to swallow up cheap shares.
The sheeple are getting sheared ahead of the news, this is a suckers paradise.
Did you sell?
You should be buying every share you can get your hands on!

Buy Now And Thank Me Later

Use this weakness to accumulate more stock, retail sheep are being fleeced for their shares
They bought High and are now selling low, typical sheeple shearing, thats why retail small buyers never make any money, they sell when they should be buying!

As much as it has climbed in the last 2 months, there are 2 major catalysts that can double this stock in the next 2 mths.

#1 Testing Of Petrolifera's La Pinta Well In Colombia To Commence June 6, 2009;
#2 And the Buy Out Of Argentina's Assets : ProspectivePurchasersArgentina Bids Extended To July 10, 2009

Petrolifera(C$3.00,C$0.20,7.1%)has extended the deadline for submissionsof bidsrelatedto thepotentialpurchase of its Argentinean operations toJuly10 at therequestof anumber of interested parties. It also saidtesting of itsLaPintaNo. 1well on the Sierra Nevada License inColombia isexpectedtostartSaturday.

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

Daily sales volumes
Crude oil and natural gas liquids - bbl/d 5,245 6,726 (22)
Natural gas - mcf/d 6,500 7,044 (8)

Barrels of oil equivalent - boe/d (2) 6,328 7,900 (20)
Average selling prices
Crude oil and natural gas liquids - $/bbl $ 52.17 $ 41.99 24
Natural gas - $/mcf $ 2.98 $ 2.20 35
Barrels of oil equivalent - $/boe $ 46.30 $ 37.72 23
Common shares outstanding (000s)
Weighted average
Basic 54,948 50,212 9
Diluted 55,195 51,562 7
End of period 54,948 50,353 9

Petrolifera Petroleum LimitedisaCalgary-basedcrudeoil and natural gas exploration,developmentandproductioncompanyactive in South America. Petroliferaholdsinterestsinapproximatelyeight million acres of petroleum andnaturalgas rightsinten onshoreconcessions or licenses in Argentina

ConnacherOilandGasLimited of Calgary, Alberta was responsible forthecreationandfinancingof Petrolifera and owns 24 percentofPetrolifera'sshares.Connacher alsoprovides some managementservicesto Petrolifera.

Board of Directors

Richard A. Gusella
Executive Chairman

Gary D. Wine
President and Chief Operating Officer

Tuesday, July 7, 2009

Interesting Stats

Source Of This Report

Pescod Says...

Energy stocks send TSX lower, oil falls for fifth day

Energy stocks send TSX lower, oil falls for fifth day; N.Y. also declines
11:12 July 7, 2009, EDT.
(Canadian Press)

TORONTO - The Toronto stock market found it tough to find footing at mid-morning on Tuesday as crude prices continued to lose ground amid demand concerns.

The S&P/TSX composite index dropped 49.1 points to 9,978.3 on top of steep losses on Monday.

The main index fell 256 points or 2.5 per cent as investors continued to react to last Thursday's much worse than expected U.S. employment report for June, which cast further doubt on an economic recovery being in place by the end of the year.

On Tuesday morning, the energy sector lost early headway to move another 0.7 per cent lower as the August crude contract on the New York Mercantile Exchange fell $1.14 to US$62.91 a barrel. Crude prices are down for a fifth day and are down almost nine per cent since the beginning of the month.

The drop in the price of crude has sent stocks falling as investors anticipate that a weaker world economy will mean less demand for energy.

Suncor Inc. (TSX:SU) declined 32 cents to $30.53.

The Canadian dollar moved down 0.03 of a cent to 86.24 cents US amid positive news from the housing sector.

Statistics Canada reported construction intentions were up 14.8 per cent from April, due to gains in both residential components and two of the three non-residential components. The value of permits surpassed the $5-billion mark in May for the first time since last October.

The TSX Venture Exchange was ahead 9.15 points to 1,073.78.

New York markets were weak.

The Dow Jones industrial average lost 63.4 points to 8,261.5. The Nasdaq composite index was down 14.19 points to 1,773.21 while the S&P 500 dipped 6.85 points to 891.85.

Investors have become more tentative in recent weeks after the market's spring rally, which sent indexes as high as about 40 per cent. Some fear they might have been too optimistic in March and April about how soon the economy might recover from the recession.

"Our view is that the economy is still in a precarious state," said Ben Halliburton, chief investment officer of Tradition Capital Management in Summit, N.J.

"The weak consumer, driven by very high unemployment, destroyed wealth and unavailable credit is going to continue to be a major drag on the U.S. economy."

Investors are also looking to Wednesday's kickoff of the U.S. second-quarter earnings season. Aluminum maker Alcoa Inc. is expected to post a second-quarter loss of 37 cents per share. In the same period a year earlier, Alcoa earned 66 cents per share on revenue of US$7.6 billion.

Elsewhere on the Toronto market, the industrials sector was down one per cent as Canadian Pacific Railroad (TSX:CP) fell $1.51 to $41.57.

The base metals sector was flat as the price of copper edged two cents lower to US$2.23 a pound.

The August bullion contract on the Nymex inched 20 cents higher to US$924.50 an ounce.

The financial sector was off 0.55 per cent. Sun Life Financial Inc. (TSX:SLF) gave back 42 cents to $29.24.

Manulife Financial Corp. (TSX:MFC) shares rose 22 cents to $19.29 after the insurance giant said Monday it would issue $1 billion in notes to boost its Tier 1 capital.

Shares in drugstore chain The Jean Coutu Group (TSX:PJC.A) were ahead 30 cents to $9.68 after the company said that quarterly net earnings came in at $10.3 million, or four cents per share, reversing year-earlier losses of $20.2 million or eight cents per share.

The profits came despite a loss of $30.9 million or 13 cents per share from its stake in Rite Aid, a U.S. drugstore business in which the company owns a stake.

In other corporate news, timber giant Weyerhaeuser, which has been losing money because of the moribund U.S. housing market, is cutting its quarterly dividend to five cents US from 25 cents.

The Federal Way, Wash., company, which lost more than US$1 billion in the last quarter, cut its dividend to 25 cents from 60 cents in December 2008.

Struggling U.S. automotive parts supplier Lear Corp. (NYSE:LEA) has filed for Chapter 11 bankruptcy protection after receiving the support it needed from lenders and bondholders.

Lear, based in Southfield, Mich., said its subsidiaries outside the U.S. and Canada are not part of the filings. The company has locations in five Ontario cities - Ajax, Kitchener, St. Thomas, Whitby and Windsor.

Thomson Reuters Corp. (TSX:TRI) has bought Streamlogics, a privately held webcasting firm. Terms of the deal for Toronto-based Streamlogics were not undisclosed. Thomson Reuters shares were off 31 cents to $33.11.

Shares in cable companies were mixed after the CRTC opened the door for a system of payments from those operators to broadcasters, known as carriage fees. The CRTC wants broadcasters and cable companies to negotiate what the payment should be. If that doesn't work, the two sides would go to arbitration. Shaw Communications (TSX:SJR.B) declined 34 cents to $18.51 while Rogers Communications (TSX:RCI.B) added four cents to $29.46.

Overseas, Japan's Nikkei 225 stock average was down 18.11 points, or 0.2 per cent, at 9,662.76.

Hong Kong's Hang Seng gained 117.67, or 0.7 per cent, to 18,097.09 as a Chinese central bank researcher said China's economy is improving and growth might top 7.5 per cent for the quarter that ended in June.

London's FTSE 100 index was up 0.38 per cent, Frankfurt's DAX was off 0.7 per cent while the Paris CAC 40 slid 0.6 per cent.

Markets Weak July Seasonal Low Volumes = Down Day

Weak open for stocks

July 07, 2009

THE CANADIAN PRESS

The Toronto stock market could be in for a slightly higher open following a commodity-stock led tumble as oil prices headed slightly higher.

The main TSX index fell 256 points or 2.5 per cent Monday as investors continued to react to last Thursday's much worse than expected U.S. employment report for June, which cast further doubt on an economic recovery being in place by the end of the year.

The slide was led by a retreat of almost four per cent in the energy sector as crude prices retreated for a fourth session. On Tuesday morning, the August crude contract on the New York Mercantile Exchange rose 28 cents to US$64.33 a barrel, still down sharply from last week's highs

The drop in the price of crude has sent stocks falling as investors anticipate that a weaker world economy will mean less demand for energy.

The Canadian dollar moved up 0.12 of a cent to 86.39 cents US.

New York futures pointed to a weak open, Asian stocks moved lower while European bourses made headway.

Dow Jones industrial average futures rose eight points to 8,285. Standard & Poor's 500 index futures slipped 1.6 points to 893.9, while Nasdaq 100 index futures gained 2.5 points to 1,443.5.

In Japan, the Nikkei 225 stock average was down 18.11 points, or 0.2 per cent, at 9,662.76.

Hong Kong's Hang Seng gained 117.67, or 0.7 per cent, to 18,097.09 as a Chinese central bank researcher said that China's economy is improving and growth might top 7.5 per cent for the quarter that ended in June.

Growth is benefiting from Beijing's stimulus spending and rising investment and consumption, said Zhang Jianhua, chief of the bank's research bureau, in an article in the July issue of the bank's magazine, China Finance.

London's FTSE 100 index was up 0.8 per cent, Frankfurt's DAX rose 0.77 per cent while the Paris CAC 40 added 0.18 per cent.

Other commodity prices moved higher as copper gained three cents to US$2.28 a pound while the August bullion contract on the Nymex advanced $5.20 to US$929.50 an ounce.

Toronto investors will be looking to pharmacy chain operator The Jean Coutu Group (TSX: PJC.A) at the open. The company said Tuesday that quarterly net earnings came in at $10.3 million, or four cents per share, reversing year-earlier losses of $20.2 million or eight cents per share.

The profits came despite a loss of $30.9 million or 13 cents per share from its stake in Rite Aid, a U.S. drugstore business in which the company owns a stake.

In other corporate news, struggling U.S. automotive parts supplier Lear Corp. (NYSE: LEA) has filed for Chapter 11 bankruptcy protection after receiving the support it needed from lenders and bondholders.

Lear, based in Southfield, Mich., said its subsidiaries outside the U.S. and Canada are not part of the filings. The company has locations in five Ontario cities – Ajax, Kitchener, St. Thomas, Whitby and Windsor.

Manulife Financial Corp. (TSX: MFC) said Monday it would issue $1 billion in notes to boost its Tier 1 capital. The insurance company said the interest rate on the notes, which will be due Dec. 31, 2108, will be fixed at 7.405 per cent per year and starting on Dec. 31, 2019, and on every fifth anniversary after that, will be reset.

Thomson Reuters Corp. (TSX: TRI) has bought Streamlogics, a privately held webcasting firm. Terms of the deal for Toronto-based Streamlogics were not undisclosed.

Investors are also looking to Wednesday's kickoff of the U.S. second quarter earnings season. Aluminum maker Alcoa Inc. is expected to post a second-quarter loss of 37 cents per share. In the same period a year earlier, Alcoa earned 66 cents per share on revenue of US$7.6 billion.

08:51ET 07-07-09

Monday, July 6, 2009

TSX plunges as commodity prices fall

TSX plunges as commodity prices fall

FINANCIAL POSTJULY 6, 2009

Stocks around the world fell Monday largely on skepticism over prospects for an economic recovery any time soon, and the Toronto Stock Exchange fell exceptionally hard as commodity stocks were down in line with resource prices.

The S&P/TSX composite index at midday was down about 305 points, or 2.9 per cent, at 9,980, with energy, materials and financials leading the decline.

On the New York Mercantile Exchange, crude oil was down $2.53 to $64.20 U.S. a barrel. Gold was off $8 to $923 U.S. an ounce. A number of other commodity prices, including natural gas and copper, were also in decline.

The Canadian dollar was up four basis points to 86.12 cents U.S..

Companies will soon be reporting earnings from the second quarter, and there expectations for big profitability declines.

Also, comments over the weekend by U.S. Vice-President Joe Biden indicated the Obama administration "misread the economy" when it predicted unemployment in that country would peak at eight per cent. Last week, it was learned that the jobless rate hit 9.5 per cent in June.

U.S. markets were down as well Monday by midday, but not to the degree as in Canada. The Dow Jones industrial average fell about 30 points, or 0.4 per cent, to 8,230. The Nasdaq composite index was down around 25 points, or 1.3 per cent, to 1,775.

Overseas markets also fell Monday.

On Friday, the S&P/TSX ended the day up 37.19 points or 0.36 per cent, to close at 10,283.1. Markets were closed in the U.S. in lieu of Independence Day.

© Copyright (c) The Calgary Herald

PDP Technicals Alert To Buy Now, During The Cone Of Silence Period

Sunday, July 5, 2009

How do you spend $2-trillion (U.S.)? Very slowly.

Karim Bardeesy

Globe and Mail Update Last updated on Saturday, Jul. 04, 2009 04:13AM EDT

How do you spend $2-trillion (U.S.)? Very slowly.

China's massive foreign currency reserves place it in an enviable position compared with other debt-ridden, import-dependent economies. But China's economy has slowed, it is worried about a depreciating U.S. dollar, and its trading partners are irritated that the country is keeping its own currency, the yuan, undervalued. So China is starting to move its $2-trillion in currency reserve savings – of which around two-thirds are denominated in U.S. dollars – into the real economy.

That's easier said than done. And it's not always in China's interests to do so.

China Investment Corp.'s (CIC) purchase of a 17.2-per-cent stake in Teck Resources Ltd. for $1.74-billion (Canadian) is just one in a series of recent investments by Chinese-run companies in foreign commodity producers. The deal comes just a week after Sinopec, China's largest oil refiner, agreed to buy Toronto-listed Addax Petroleum Corp. for $7.24-billion.

CIC manages only about one-10th of China's foreign assets. The biggest player is the People's Bank of China, the country's central bank.

China's holdings are so large – the next largest holder of foreign currency reserves, Japan, has around $1-trillion (U.S.) – that any moves it makes will have an impact on global markets. That's why, as much as it may want to diversify, it can't afford to do it quickly.

“It's a sort of financial Catch-22. They want to sell their U.S. dollars, but doing so reduces its value,” said Randall Morck of the University of Alberta.

Zhou Xiaochuan, head of China's central bank, wrote last week that the country is looking for a new global “reserve” currency that is more stable in the long term than the U.S. dollar. That would increase the bank's confidence that it can start safely shedding some of its foreign reserve holdings like U.S. Treasury bills with minuscule yields.

“There is an increasing suggestion from the government and Chinese think tanks to diversify [reserves] into equity investments. They want safety, but they also want a reasonable rate of return,” said Kenny Zhang of the Asia-Pacific Foundation, a think tank based in Vancouver.It's hard for the central bank to invest directly in companies. It can increase Chinese investment abroad and decrease reserves by facilitating lending to its major commercial banks and cutting interest rates.

There's also a way to unlock money by spending it at home. The Chinese savings rate has been very high of late – standing at 54.4 per cent of gross domestic product in 2006. The government has introduced a $586-billion stimulus package to spur the domestic economy. This inward focus can increase the appetite for foreign acquisitions.

“The Chinese are concerned about the future availability of various minerals and oil for their economy. They are attempting to lock in secure supplies by buying stakes in resource companies everywhere,” Prof. Morck said.

The country is diversifying, but slowly. The U.S. government reported in April that despite a record trade surplus for China of $114.3-billion in the fourth quarter of last year, China's foreign reserves grew by only $40.4-billion – suggesting that it was deploying some of its excess reserves abroad.

But it would take a lot of $1.7-billion deals, even if that's large to recipients like Teck, to make a major dent in China's stash of greenbacks.

TECK:$1.74-billion deal provides cash-strapped Tech

China's hunger for resources bolsters Teck

Donald Lindsay, president and chief executive officer of Teck Resources in his office on Burrard Street in Vancouver.

$1.74-billion deal provides cash-strapped Canadian firm with strategic partnership

China's unyielding appetite for commodities pushed Teck Resources Ltd. (TCK.B-T19.991.498.05%) and its CEO Don Lindsay into a near-death debt fiasco. Now, the Asian economic superpower is digging them out.

In May of 2008, Mr. Lindsay led a group of Teck directors to Shanghai where they witnessed China's economic explosion in full swing. The board members were so awed by the building boom they became converts to the notion that Chinese metals demand would remain strong for years to come.

Weeks later, they gave Mr. Lindsay the green light to go ahead with the $14-billion (Canadian) acquisition of Fording Coal – the top-of-the-market takeover that would leave Teck drowning in $9.8-billion (U.S.) in debt as the global economy collapsed.

Yesterday, China came to Teck's rescue, the final step in the copper, coal and zinc miner's self-titled “12-step plan” to kick its leverage problem and repair its balance sheet.

Teck unveiled a $1.74-billion (Canadian) private stock sale that will give China a 17.2-per-cent stake in Canada's largest base metals company.

The deal, struck with the hulking $200-billion (U.S.) sovereign wealth fund China Investment Corp. (CIC), will provide Teck with sorely needed cash to largely eliminate its crushing short-term debt load and a strategic partnership with the world's dominant commodity buyer.

“If you think about the market for our core products, China is obviously the single most important country by far in terms of demand. So getting a Chinese strategic investor was top of the list,” Mr. Lindsay said.

The Teck CEO expects CIC will help his company increase its coal sales to China, a key pillar in the company's strategic plan. Mr. Lindsay also said that China may help Teck fund development projects including a pair of its copper mines in Chile. Teck is also a partner in the Fort Hills oil sands project in Alberta that has suffered from staggering cost inflation and China could help Teck fund its share of the project.

As the world economy has slipped deeper into recession and crimped metals demand, China has moved aggressively to buy resource assets and secure access to copper, oil, iron ore and coal.

Despite the recent collapse of state-controlled Aluminum Corp. of China's (Chinalco) proposed $19.5-billion (U.S.) investment in Rio Tinto PLC (another miner riddled with debt as a result of a top-of-the-market takeover), China's Commerce Ministry said earlier this month that it will continue with its so-called “go abroad” investment policy.

Through various state entities, China has plowed billions into resources in the past eight months, including oil in West Africa and Iraq, zinc in Australia and iron ore in Canada. With the vast majority of its holdings in U.S. dollar-backed investments, China is looking for diversification with the resource deals.

“They are a deep-pocketed partner. I don't know if they are the deepest pocket in the world but it is pretty close … they are clearly shifting out of U.S. Treasuries into hard assets. This is just one step in that,” Mr. Lindsay said.

Several international mining firms were interested in taking a similar size stake in Teck but were rejected in favour of CIC and China. Mr. Lindsay believes the rival miners were interested in the stock as a precursor to a takeover. “That was something that was never going to be on the table,” he said.

CIC intends to be a “long-term passive financial investor” and will not take a seat on the board. The deal underscores China's expectation of continued demand for metals and Teck expects to tap its new partner for insight into the state of the Chinese economy.

CIC chairman and CEO Lou Jiwei, who signed the deal for CIC this week, is a member of China's government cabinet.

“We addressed him as ‘your Excellency.' He's one of the key people in the country,” Mr. Lindsay said.

Despite shareholder dilution, analysts and investors generally applauded the proposed transaction that will give CIC a 6.7-per-cent voting interest in Teck. The company's class B shares jumped 8 per cent yesterday on the TSX. Once the transaction is completed, the company's A class shareholders, which are dominated by the family of Teck chairman Norman Keevil and Japan's Sumitomo Metal Mining Co. Ltd., will hold a 61.8-per-cent voting interest down from 66 per cent.

In a report to clients, BMO Nesbitt Burns analyst Tony Robson said he was “surprised” by the CIC deal as Teck had previously stated it wasn't planning an equity issue.

However, the analyst viewed the transaction as positive because of the $1.5-billion in proceeds from the stock sale that Teck intends to put toward debt reduction.

“With recent asset sales, today's move has done much to correct the former severely weakened balance sheet,” Mr. Robson said in the report.

The CIC deal marks the final hurdle in an aggressive debt reduction plan hatched by Mr. Lindsay and other Teck executives at the depths of the market meltdown last November.

Teck has cut its dividend, laid off workers, sold $1.5-billion (U.S.) in assets, restructured its loans, cut capital spending and issued $4.2-billion (U.S.) in junk bonds to raise cash to reduce the loans from the Fording deal.

A former investment banker, Mr. Lindsay said he scribbled down the 12 steps comprising the plan on a note pad that is still sitting on the desk in his Vancouver home office.

“All along this was the last step. We hoped to get this strategic partnership with China and we did. So a lot of us are going on vacation now.”

B.C. pipeline bombed for sixth time EnCana spokeswoman confirms bomb went off early Saturday morning, less than a kilometre from site of Thursday's e

For the sixth time in nine months, and the second time in three days, a bomb has exploded near EnCana's natural gas pipeline in northeastern British Columbia.

The blast early Saturday morning took place less than a kilometre from where EnCana workers were trying to cap a gas well damaged in an explosion Thursday.

“Our crews were at the wellhead site, where they were working to stop the gas leak,” EnCana spokeswoman Rhona DelFrari said from Calgary.

“Around 2:30 in the morning they heard a loud bang, so they immediately went to the spot where they thought it was and that's where they discovered the explosion at the pipeline.”

The Mounties are labelling the bombings as domestic terrorism and have flown in a unit of its Integrated National Security Enforcement Team to investigate.

RCMP spokesman Corporal Dan Moskaluk said the EnCana crew, as well as a nearby resident, reported the explosion.

The blast caused a brief leak of potentially toxic sour gas but the pipeline's control system sensed the drop in pressure and triggered emergency shutdown valves to isolate that portion of the line.

It's not clear whether the EnCana repair crew was downwind of the leak but Cpl. Moskaluk said no one was hurt.

Some nearby residents evacuated their homes when they heard the blast, said Ms. DelFrari, but it was unnecessary.

The small amount of leaked sour gas dissipated instantly, she said, and tests of the air showed no signs of hydrogen sulphide, which can kill in small quantities.

“So there was no risk to the public,” said Ms. DelFrari.

It's the sixth bombing against EnCana gas-transmission facilities since October.

The bombings have all taken place along a 15-to-20-kilometre stretch of the pipeline near Pouce Coupe, just south of Dawson Creek on the B.C.-Alberta border about 1,050 kilometres northeast of Vancouver.

The string of unsolved bombings has left Pouce Coupe, which has less than 800 residents, edgy and suspicious.

“This is an attack on the entire community now,” said Ms. DelFrari. “This isn't just an attack on EnCana as a corporation. This person is putting everyone's lives in risk right now.”

Police suspect the bomber is someone who has a grudge against EnCana and who perhaps lives in the area.

The attacks began with three bombings shortly after a letter was sent to a Dawson Creek newspaper and to EnCana. It labelled oil and gas companies terrorists and demanded EnCana stop natural gas development in the area.

There was another explosion in January, then none until this week.

Most have targeted wells or pipelines carrying sour gas.

Cpl. Moskaluk said though no one has been hurt yet, the bombings have created stress in Pouce Coupe, as well as nearby Dawson Creek, which depends economically on energy development.

“Many have been questioned, many have been brought in for interviews,” he said.

“They're all looking at one another. You can imagine how that's eating away at people.”

Cpl. Moskaluk said police won't be releasing information on the type of explosives used or the bombs' construction. He could not say if the latest bomb had been planted before or after Thursday's blast.

He said police hope this sixth attack will trigger some tips to help them catch the bomber.

I think if somebody comes forward then I think there's a little bit of strength in numbers,” said Cpl. Moskaluk.

EnCana has offered a $500,000 reward for information and set up a special phone line for the bomber to call them but so far it hasn't rung.

Meanwhile, EnCana is maintaining bolstered, 24-hour security along the pipeline. But Ms. DelFrari admitted there's no way to ensure the bomber doesn't strike again.

“Let's face it, it's hard to patrol hundreds of kilometres of pipeline and we have about 150 wells in the Dawson area,” she said.

Friday, July 3, 2009

PDP Report Released Given a Buy Rating June 30 2009

Source Of This Report

Petrolifera Petroleum Limited Oil & Gas Exploration and Production Operations and Cost Analysis – 2008 (Global Data)

* Market: Energy and Utilities
* Published Date: 19/06/2009
* Report Title: Petrolifera Petroleum Limited Oil & Gas Exploration and Production Operations and Cost Analysis – 2008
* View Report Summary: View Report Summary
* Report Type: Market Report
* Country: Global
* Number of Pages: 44

Key Information 1
Key Ratios 1
Table Of Contents 2
List of Tables 3
List of Figures 4
Petrolifera Petroleum Limited, Production and Reserves Trends 6
Total Oil and Gas, Reserves and Production 6
Total Crude Oil and Natural Gas Production and Reserves Trend, 2003-08 6
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2003-08 7
Total Crude Oil and Natural Gas Reserve Changes, 2003-08 8
Crude Oil/Liquids Production and Reserve 9
Crude Oil/Liquids Production and Reserve Trend, 2003-08 9
Crude Oil Production and Reserves By Country/Region, 2003-08 10
Crude Oil/Liquids Reserve Changes, 2003-08 11
Natural Gas Production and Reserve 12
Natural Gas Production and Reserve Trend, 2003-08 12
Natural Gas Production and Reserves, By Country/Region, 2003-08 13
Natural Gas Reserve Changes, 2003-08 14
Total Crude Oil and Natural Gas Reserves Life Index 15
Total Crude Oil and Natural Gas Reserves Life Index, 2003-08 15
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2003-08 16
Petrolifera Petroleum Limited, E&P Costs Trends 18
Allocation of the Upstream Capital Expenditure 18
Upstream Capital Expenditure, 2003-08 18
Acquisition Costs By Country/Region, 2003-08 19
Exploration and Development Costs, By Country/Region, 2003-08 20
Oil and Gas Cost Per Boe, $/boe 21
Oil and Gas Cost Per Boe, $/boe, 2003-08 21
Oil and Gas Cost Per Boe, $/boe, By Country/Region, 2003-08 22
Petrolifera Petroleum Limited, Reserve Replacement Ratio 24
Oil and Gas Production Replacement Ratio 24
Oil and Gas Production Replacement Ratio, 2003-08 24
Oil and Gas Production Replacement Ratio, By Country/Region, 2003-08 25
Petrolifera Petroleum Limited, Results of Oil & Gas Operations Trend 29
Oil and Gas Revenue and Expenses 29
Oil and Gas Revenue and Expenses, 2003-08 29
Oil and Gas Revenue and Expenses, By Country/Region, 2003-08 29
Oil and Gas Revenue and Expenses, Per Boe 30
Oil and Gas Revenue and Expenses, By Boe, 2003-08 30
Oil and Gas Revenue and Expenses Per Boe, By Country/Region, 2003-08 30
Petrolifera Petroleum Limited, Land Holdings and Well Data 31
Developed and Undeveloped Acreage 31
Gross and Net Developed and Undeveloped Acreage, 2003-08 31
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2003-08 32
Well Statistics 33
Producible Oil and Gas Well, 2003-08 33
Producible Oil and Gas Well, By Country/Region, 2003-08 34
Exploration and Development Wells Drilled, 2003-08 38
Exploration and Development Wells Drilled, By Country/Region, 2003-08 39
Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2003-08 39
Developed Reserves per Well, By Country/Region, 2003-08 40
Appendix 42
Methodology 42
Coverage 42
Secondary Research 43
Primary Research 43
Key Economic Assumptions 43
Expert Panel Validation 43
Unit Of Measure 44
Disclosure information 44
About GlobalData 44
Contact Us 44
Disclaimer 44

List of Tables
Petrolifera Petroleum Limited, Key Facts 1
Petrolifera Petroleum Limited, Key Ratios 1
Petrolifera Petroleum Limited, Key Costs Per Boe, $/boe, 2008 1
Petrolifera Petroleum Limited, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2003-08 6
Petrolifera Petroleum Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2003-08 7
Petrolifera Petroleum Limited, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2003-08 8
Petrolifera Petroleum Limited, Crude Oil Production and Reserves Metrics, MMbbl, 2003-08 9
Petrolifera Petroleum Limited, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2003-08 10
Petrolifera Petroleum Limited, Crude Oil Reserve Changes, MMbbl, 2003-08 11
Petrolifera Petroleum Limited, Natural Gas Production and Reserves Metrics, Bcf, 2003-08 12
Petrolifera Petroleum Limited, Natural Gas Production and Reserves, By Country/Region, Bcf, 2003-08 13
Petrolifera Petroleum Limited, Natural Gas Reserve Changes, Bcf, 2003-08 14
Petrolifera Petroleum Limited, Oil and Gas Reserves Life Index, Years, 2003-08 15
Petrolifera Petroleum Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2003-08 17
Petrolifera Petroleum Limited, Upstream Capital Expenditure, $ Million, 2003-08 18
Petrolifera Petroleum Limited, Proved and Unproved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
Petrolifera Petroleum Limited, Exploration and Development Costs, By Country/Region, $ Million, 2003-08 20
Petrolifera Petroleum Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 2003-08 21
Petrolifera Petroleum Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, By Country/Region, 2003-08 23
Petrolifera Petroleum Limited, Oil and Gas Production Replacement Ratio, %, 2003-08 24
Petrolifera Petroleum Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2003-08 28
Petrolifera Petroleum Limited, Revenue and Expenses, $ Million, 2003-08 29
Petrolifera Petroleum Limited, Revenue and Expenses, By Country/Region, $ Million, 2003-08 29
Petrolifera Petroleum Limited, Oil and Gas Revenue and Expenses, $/Boe, 2003-08 30
Petrolifera Petroleum Limited, Oil and Gas Revenue and Expenses, $/Boe, By Country/Region, 2003-08 30
Petrolifera Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2003-08 31
Petrolifera Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2003-08 32
Petrolifera Petroleum Limited, Producible Oil and Gas Wells, 2003-08 33
Petrolifera Petroleum Limited, Producible Oil and Gas Wells, By Country/Region, 2003-08 37
Petrolifera Petroleum Limited, Exploratory and Developed Wells, 2003-08 38
Petrolifera Petroleum Limited, Exploratory and Developed Wells, By Country/Region, 2003-08 39
Petrolifera Petroleum Limited, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2003-08 39
Petrolifera Petroleum Limited, Developed Reserves per Well, By Country/Region, Mboe per Well, 2003-08 41

List of Figures
Petrolifera Petroleum Limited, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2003-08 6
Petrolifera Petroleum Limited, Total Oil & Gas Production, By Country/Region, MMBOE, 2003-08 7
Petrolifera Petroleum Limited, Total Proved Oil & Gas Reserves, By Country/Region, MMBOE, 2003-08 7
Petrolifera Petroleum Limited, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2008 8
Petrolifera Petroleum Limited, Crude Oil Production and Reserves Metrics, MMbbl, 2003-08 9
Petrolifera Petroleum Limited, Oil Production, By Country/Region, MMbbl, 2003-08 10
Petrolifera Petroleum Limited, Total Proved Oil Reserves, By Country/Region, MMbbl, 2003-08 10
Petrolifera Petroleum Limited, Crude Oil Reserve Changes, MMbbl, 2008 11
Petrolifera Petroleum Limited, Natural Gas Production and Reserves Metrics, Bcf, 2003-08 12
Petrolifera Petroleum Limited, Gas Production, By Country/Region, Bcf, 2003-08 13
Petrolifera Petroleum Limited, Total Proved Gas Reserves, By Country/Region, Bcf, 2003-08 13
Petrolifera Petroleum Limited, Natural Gas Reserve Changes, Bcf, 2008 14
Petrolifera Petroleum Limited, Oil and Gas Reserves Life Index, Years, 2003-08 15
Petrolifera Petroleum Limited, Gas Reserve Life Index, By Country/Region, Years, 2003-08 16
Petrolifera Petroleum Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2003-08 16
Petrolifera Petroleum Limited, Oil Reserve Life Index, By Country/Region, Years, 2003-08 17
Petrolifera Petroleum Limited, Upstream Capital Expenditure, $ Million, 2003-08 18
Petrolifera Petroleum Limited, Proved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
Petrolifera Petroleum Limited, Unproved Acquisition Costs, By Country/Region, $ Million, 2003-08 19
Petrolifera Petroleum Limited, Development Costs, By Country/Region, $ Million, 2003-08 20
Petrolifera Petroleum Limited, Exploration Costs, By Country/Region, $ Million, 2003-08 20
Petrolifera Petroleum Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per Boe, $/boe, 2003-08 21
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, By Country/Region, $/BOE, 2003-08 22
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, By Country/Region, $/BOE, 2003-08 22
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/BOE, 2003-08 23
Petrolifera Petroleum Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2003-08 24
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2003-08 25
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2003-08 25
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2003-08 26
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2003-08 26
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2003-08 27
Petrolifera Petroleum Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2003-08 27
Petrolifera Petroleum Limited, Revenue and Expenses, $ Million, 2003-08 29
Petrolifera Petroleum Limited, Oil and Gas Revenue and Expenses, $/Boe, 2003-08 30
Petrolifera Petroleum Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2003-08 31
Petrolifera Petroleum Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2003-08 32
Petrolifera Petroleum Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2003-08 32
Petrolifera Petroleum Limited, Producible Oil and Gas Wells, 2003-08 33
Petrolifera Petroleum Limited, Gross Producible Gas Wells, By Country/Region, Number, 2003-08 34
Petrolifera Petroleum Limited, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2003-08 34
Petrolifera Petroleum Limited, Gross Producible Oil Wells, By Country/Region, Number, 2003-08 35
Petrolifera Petroleum Limited, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 2003-08 35
Petrolifera Petroleum Limited, Net Producible Gas Wells, By Country/Region, Number, 2003-08 36
Petrolifera Petroleum Limited, Net Producible Oil & Gas Wells, By Country/Region, Number, 2003-08 36
Petrolifera Petroleum Limited, Net Producible Oil Wells, By Country/Region, Number, 2003-08 37
Petrolifera Petroleum Limited, Exploratory and Developed Wells, 2003-08 38
Petrolifera Petroleum Limited, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2003-08 40
Petrolifera Petroleum Limited, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2003-08 40
Petrolifera Petroleum Limited, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 2003-08 41

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Investing Mistakes and How to Minimize Them

Ah, those investing mistakes that everyone wishes hadn’t happened to them. Not all losing ventures in the stock market are due to foolishness. For a plethora of reasons, including reckless advice from the “experts”, emotional trading, misapplication of the basic stock investing concepts, and failure to follow a proven stock trading system all can lead to the same end. Here is a list of common errors to avoid, improving your results and limiting those investing mistakes:

1. Never invest without a clearly defined stock trading plan. A well-conceived plan will include considerations of time, risk-tolerance, and future income….and a proven system for success (such as the Japanese Candlestick stock trading method). A plan that follows these guides will steer clear of most investing mistakes.

2. Investors don’t stick to their best investment plan. All too often, investors will feel changes in the market and not have faith in their plan. Although investing is always referred to as "long term", it is rarely dealt with as such by investors who would be hard pressed to explain simple stock market basics. Again, a good investment plan including a strong system can help to evade most investing mistakes.

3. Investors fall prey to the “one-trick pony” method of investing. To think that a rising stock will continue to rise indefinitely, especially if it is a company to which the investor has ties, is fool’s gold. Remember, portfolio diversification is a hedge against investing mistake. Follow your system and take your profits according to your plan.

4. Too often, investors are stricken with "analysis paralysis”, overdosing on stock market information. Such an approach is confusing, frustrating, and leads to more investing mistakes. Something else is good to remember; sales pitches do not constitute research! Technical analysis can be dirty work, but the end result is usually worth the effort.

5. Investors frequently are looking for the “home run”, that shortcut to a huge profit which usually only leads to more investing mistakes. A beginner investing in the stock market will abandon a profitable investment plan to take a chance on securities that cause nothing but trouble. The fact is, a solid plan will likely improve risk reward ratios faster, and more securely, than that swing for the fence.

6. Many investors fail to respect the cyclical nature of the markets and buy the latest fad in securities at its highest price. They will abandon the plan and system that was improving their stock market results and in turn, create a “buy high, sell low” trend in their investing.