Markets RED RED RED - BWR.wt down 20% Haircut

Move your money out as I did...Here is a quick alternate nickel stock, .60 cents down from the high of 1.98 but a smaller float, TSX based , has bottomed and is moving back up,

Canadian producing mine and lots of money and potential to double or triple this year.
down from the high, but has a double bottom bounce up happening.

Check this out click the link

One To Watch CRO-TSX-V

Jennings Confirms Target PDP:TSX $17.40

DrillingThe well is created by drilling a hole 5 to 30 inches (13 – 76 cm) diameter into the earth with an oil platform which rotates a drill bit. After the hole is drilled, a steel pipe (casing) slightly smaller than the hole is placed in the hole, and secured with cement. The casing provides structural integrity to the newly drilled wellbore in addition to isolating potentially dangerous high pressure zones from each other and from the surface.With these zones safely isolated and the formation protected by the casing, the well can be drilled deeper (into potentially more-unstable and violent formations) with a smaller bit, and also cased with a smaller size casing. Modern wells often have 2-5 sets of subsequently smaller hole sizes drilled inside one another, each cemented with casing.

Crude surges past $102 a barrel

JOHN WILEN
Thursday, February 28, 2008
NEW YORK — Crude prices rebounded Thursday, shooting up more than $2 (U.S.) a barrel to a new record as a falling U.S. dollar and the prospect of lower interest rates attracted fresh money to the oil market.
U.S. retail gasoline prices, meanwhile, rose closer to records above $3 a gallon.

A pair of dismal economic reports Thursday drew more money into the oil market, as did Federal Reserve Chairman Ben Bernanke's comments that the economy is not immediately threatened with stagflation, a combination of economic weakness and rising inflation.
The Commerce Department said gross domestic product grew at only a 0.6 per cent rate in the fourth quarter, below estimates and at only a fraction of the previous quarter's growth rate, while the Labour Department said applications for unemployment benefits rose by 19,000 last week, more than expected.

Rather than viewing such news as bad for oil demand, investors chose to see it as confirmation of their beliefs that the Fed will continue cutting interest rates to try to shore up the economy. Interest rate cuts tend to weaken the U.S. dollar, and crude futures offer a hedge against a falling dollar. Also, oil futures bought and sold in dollars are more attractive to foreign investors when the greenback is falling.
“I really think that this is oil being viewed as ... a financial instrument,” said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
Light, sweet crude for April delivery rose $2.45 to $102.09 a barrel on the New York Mercantile Exchange after rising to a new record of $102.74.

Crude prices are within the range of inflation-adjusted highs set in early 1980. A $38 barrel of oil then would be worth $97 to $104 or more today, depending on the how the adjustment is calculated. A direct comparison with daily Nymex prices is difficult because historical data, gathered before the crude futures contract was created in 1983, are based on average monthly prices posted by oil producers.
Different analysts have varying benchmarks for an inflation adjusted high. For example, John Kingston, director of oil at Platts, the energy research arm of McGraw-Hill Cos., arrived at an all-time high of more than $104 a barrel, which he said adjusts for delivery costs to and from Cushing, Okla., the Nymex crude oil delivery terminal. Using his own inflation adjustment, A. G. Edwards & Sons, Inc. oil analyst Eric Wittenauer arrived at a widely quoted estimate of $103.76.

However, an inflation calculator maintained by the Bureau of Labour Statistics estimates that $38 in 1980 is worth $97.34 today. A Federal Reserve Bank of Minneapolis calculator puts $38 in 1980 dollars at $99.43 today.

Oil's rally is pulling gas prices higher. At the pump, retail gasoline prices rose 0.9 cent overnight to a national average of $3.161 a gallon, according to AAA and the Oil Price Information Service. Prices are within 7 cents of May's record of $3.227 a gallon. The Energy Department expects prices to peak near $3.40 a gallon this spring; many analysts think prices will rise much higher than that.
Oil prices fell $1.24 a barrel Wednesday after the Energy Department reported crude inventories rose more than expected last week.
But that reflected a rare reaction by oil investors to supply and demand fundamentals. Oil prices have been far more affected in recent months by dollar- and interest rate-driven investment decisions, analysts say.

“[Fundamentals] have no relationship to price right now,” Mr. Flynn said. If prices were responding to supply and demand, fundamentals, they would be falling, he said. Several recent forecasters have lowered oil demand growth predictions for this year due to the slowing economy, and domestic oil inventories have been growing.

Oil prices have received some support in recent days from word of a technical glitch that temporarily disrupted the flow of a small amount of crude out of Nigeria. Eni SpA denied earlier reports that its Brass River oil terminal had been attacked by rebels. Turkey's recent invasion of Northern Iraq in search of Kurdish rebels has also been supportive, Mr. Flynn said, but these stories are not enough in and of themselves to explain why oil continues to trade above $100.

Many analysts believe it's just a matter of time until the fundamentals reassert themselves on the market, pushing prices down.

Other energy futures also rose Thursday. March gasoline futures rose 0.94 cent to $2.4871 a gallon on the Nymex, while March heating oil futures rose 6.23 cents to $2.8334 a gallon.

April natural gas futures jumped 41.3 cents to $9.473 per 1,000 cubic feet. The Energy Department said inventories fell by 151 billion cubic feet last week, slightly less than expected.

In London, April Brent crude rose $2.18 to $100.45 a barrel on the ICE Futures exchange.

© Copyright The Globe and Mail

BWR Anonymous Dumps 1 Million Plus Ahead Of Financials

Petrolifera Petroleum Limited Cases Puesto Morales Este X-1001 Well

Drilling
The well is created by drilling a hole 5 to 30 inches (13 – 76 cm) diameter into the earth with an oil platform which rotates a drill bit. After the hole is drilled, a steel pipe (casing) slightly smaller than the hole is placed in the hole, and secured with cement. The casing provides structural integrity to the newly drilled wellbore in addition to isolating potentially dangerous high pressure zones from each other and from the surface.

With these zones safely isolated and the formation protected by the casing, the well can be drilled deeper (into potentially more-unstable and violent formations) with a smaller bit, and also cased with a smaller size casing. Modern wells often have 2-5 sets of subsequently smaller hole sizes drilled inside one another, each cemented with casing.

After drilling and casing the well, it must be 'completed'. Completion is the process in which the well is enabled to produce oil or gas.

In a cased-hole completion, small holes called perforations are made in the portion of the casing which passed through the production zone, to provide a path for the oil to flow from the surrounding rock into the production tubing. In open hole completion, often 'sand screens' or a 'gravel pack' is installed in the last drilled, uncased reservoir section.

These maintain structural integrity of the wellbore in the absence of casing, while still allowing flow from the reservoir into the wellbore. Screens also control the migration of formation sands into production tubulars and surface equipment, which can cause washouts and other problems, particularly from unconsolidated sand formations in offshore fields.

After a flow path is made, acids and fracturing fluids are pumped into the well to fracture, clean, or otherwise prepare and stimulate the reservoir rock to optimally produce hydrocarbons into the wellbore. Finally, the area above the reservoir section of the well is packed off inside the casing, and connected to the surface via a smaller diameter pipe called tubing.

This arrangement provides a redundant barrier to leaks of hydrocarbons as well as allowing damaged sections to be replaced. Also, the smaller diameter of the tubing produces hydrocarbons at an increased velocity in order to overcome the hydrostatic effects of heavy fluids such as water.

In many wells, the natural pressure of the subsurface reservoir is high enough for the oil or gas to flow to the surface. However, this is not always the case, especially in depleted fields where the pressures have been lowered by other producing wells, or in low permeability oil reservoirs. Installing a smaller diameter tubing may be enough to help the production, but artificial lift methods may also be needed. Common solutions include downhole pumps, gas lift, or surface pump jacks.

The use of artificial lift technology in a field is often termed as "secondary recovery" in the industry. Many new systems in the last ten years have been introduced for well completion. Multiple packer systems with frac ports or port collars in an all in one system have cut completion costs and improved production, especially in the case of horizontal wells. These new systems allow casings to run into the lateral zone with proper packer/frac port placement for optimal hydrocarbon recovery.

[edit] Production
The production stage is the most important stage of a well's life, when the oil and gas are produced. By this time, the oil rigs and workover rigs used to drill and complete the well have moved off the wellbore, and the top is usually outfitted with a collection of valves called a "Christmas Tree". These valves regulate pressures, control flows, and allow access to the wellbore in case further completion work is needed. From the outlet valve of the Christmas Tree, the flow can be connected to a distribution network of pipelines and tanks to supply the product to refineries, natural gas compressor stations, or oil export terminals.

As long as the pressure in the reservoir remains high enough, this Christmas Tree is all that is required to produce the well. If the pressure depletes and it is considered economically viable, an artificial lift method mentioned in the completions section can be employed.

Petrolifera Petroleum Limited Cases Puesto Morales Este X-1001 Well
15:49 EST Thursday, February 28, 2008

CALGARY, Feb. 28 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) announces today that it has drilled, logged and cased the PME X-1001 well on its recently-acquired Puesto Morales Este Concession located in the province of Rio Negro in the Neuquén Basin, onshore Argentina.
The well encountered several zones of interest and will be evaluated once a service rig is available to conduct testing programs.

Petrolifera Petroleum Limited is a Calgary-based crude oil and natural gas exploration and production company with operations in Argentina, Colombia and Peru.

Forward Looking Information
This press release contains forward-looking information, including but not limited to planned testing of the PME X-1001 well, which has been cased for further evaluation. There can be no assurance that testing of this well will yield commercial results. The information is based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses and health, safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. Additional risks and uncertainties are described in the company's Annual Information Form which is filed on SEDAR at www.sedar.com.