PDP Is Primed To Run Up Fast

Looking back the letters A- N represent significant events that have taken place back to
Feb 15 2008. Feb 29th we saw a price of $12.50.

Petrolifera Petroleum "buy," target price reduced
03/19/08 - Jennings Capital

NEW YORK, March 19 (newratings.com) - Analysts at Jennings Capital maintain their "buy" rating on Petrolifera Petroleum Ltd (P9P). The target price has been reduced from C$17.40 to C$16.50.In a research note published yesterday, the analysts mention that the company's operating costs rose in 4Q on account of lower-than-expected volumes. Petrolifera Petroleum’s cash flows in 2007 were adversely impacted by higher-than-expected taxes, the analysts say. The company’s FD&A costs in the year were higher than the 2005/2006 level partly on account of higher-than-expected facility capex, Jennings Capital adds.

Petrolifera Petroleum rises on reserves increase.

Posted: February 26, 2008, 4:07 PM by David Pett
Energy
Petrolifera Petroleum Ltd. shares were up more than 10% on Tuesday after reporting increased reserves in 2007.

The company said proved resources increased 43% from 10.5 million barrels to 15.1 million barrels of oil, while proved and probable reserves increased 10% from 19.5 million barrels to 21.5 million barrels of oil.

The biggest material increase was in the proved probable and possible reserves category which was not evaluated in 2006. For 2007 the company reported these reserves reached 33.4 million barrels.

The huge short activity will result in PDP exploding up on the next significant news release.
The shorts will have to cover their position fast, since the float is small 50 Million shares, and the current volume at these levels is 22-28,000 shares per day, which is a joke.

IMF warning to governments a sign of the times

IMF warning to governments a sign of the times

TheStar.com - Business -
March 16, 2008
David Crane

There's something truly scary about the current financial crisis and the potential risks to the global economy when the International Monetary Fund warns that governments need to "think the unthinkable."

This is a sign that we are in uncharted waters and even the top experts don't know what will happen next. The IMF is saying that despite recent massive interventions in financial markets by the U.S. Federal Reserve, the Bank of Canada and the Bank of England, things could get much worse.

Indeed, we could be headed for the worst financial crisis since the 1929 stock market crash and the Great Depression of the 1930s.

The decline in the value of the U.S. dollar, a U.S. recession that's already here, a credit crunch making loans more difficult to get, and rising interest rates for businesses and homeowners are among the factors already at work since the subprime mortgage crisis emerged last August.

Failure to restore confidence in the financial system would make all of these factors worse. Governments could even be forced, in a massive bailout, to take over the bad investments made by banks. Losses by financial institutions from the subprime mortgage crisis have been estimated at $500 billion to more than $1 trillion.

Moreover, Goldman Sachs warns U.S. housing prices could fall 25 per cent from their peak and wipe out $5 trillion of wealth in American households. For many this would wipe out all of their home equity and even leave them owing more than their houses are worth. There are fears of a similar drop in prices in commercial real estate. In addition, the sharp fall in the stock market has wiped out considerable wealth.

And it's not over yet.

"The need to prepare systematically for potential risks has been demonstrated amply during the past few months," the IMF's John Lipsky has warned. "After all, the failure of both financial institutions and public authorities to anticipate the current challenges already damaged some core institutions, undermining confidence and weakening economic prospects."

One risk that Lipsky highlighted is the emergence of "a global financial decelerator" where the financial crisis could do even more damage to the underlying economy, affecting jobs and growth. In this scenario, rising defaults or margin calls could force the fire sale of assets by borrowers unable to come up with cash to meet the demands of their bankers.

These forced sales would push down the value of office buildings, businesses and other assets, leading to a further deterioration in the value of remaining collateral assets and a new round of defaults or margin calls.

The result would be asset-price deflation, a downward credit spiral and a deep recession. A growing number of hedge funds are already getting margin calls, selling assets at low prices or going into default.

The U.S. Federal Reserve has made two interventions of $200 billion each in recent days to support financial markets while the U.S. government is injecting $168 billion of tax rebates to American households in the hope they will spend. There's little evidence these kinds of actions are working so far.

Bank of Canada Governor Mark Carney has pointed out that "the end is not yet in sight," adding that "some of the world's largest financial institutions have recorded substantial losses, the cost of borrowing has increased, and the availability of credit has decreased."

Not surprisingly, "our economy is beginning to feel the effects of the deterioration in global financial conditions."

The failure so far to restore confidence in financial markets, with oil prices hovering around $110 (U.S.) a barrel and gold in the $1,000-an-ounce range as investors rush for safety, show why we should worry. The IMF's warning is spot on.

David Crane can be reached at crane@interlog

Friday, 21 Mar 2008
Gates Foundation to Sell Over Half Its Berkshire Hathaway Shares
Posted By:Alex Crippen
Topics:Bill Gates Warren Buffett
Companies:Berkshire Hathaway Inc.

Seth Wenig / AP
Bill and Melinda Gates pose with Warren Buffett after their 2006 news conference announcing Buffett's intentions to give the bulk of his fortune to the Gates Foundation.
The primary beneficiary of Warren Buffett's plan to give away almost all of the money that's made him the wealthiest person in the world will sell most of the Berkshire Hathaway shares it's already received from Buffett.
In a filing with the SEC, the Bill & Melinda Gates Foundation Trust reveals it has adopted a written sales plan to sell 550,000 of the 975,000 Berkshire Hathaway Class B shares it now owns.
At today's closing price of just under $4348, those 550,000 shares are worth almost $2.4 billion and the total holdings are worth over $4.2 billion.
The sales are planned for a three-year period starting April 1 this year. The filing also says the sales plan can be canceled at any time.
Why? "To facilitate the Trust’s compliance with federal excise tax rules limiting excess business holdings by private foundations."
The Gates Foundation, will be getting more shares, however, as Buffett continues his annual gifts. The AP notes that "Buffett is expected to give 451,250 Class B shares to the foundation this summer as part of his overall pledge to donate 10 million shares."
Current Berkshire Class A price:
Berkshire Hathaway Inc
US%3bBRK.A
132900.0 UNCH 0%
NYSE
Quote Chart News Profile[US;BRK.A 132900.0 --- UNCH (0%) ]
cnbc_quoteComponent_init_getData("US;BRK.A","WSODQ_COMPONENT_US%3bBRK.A_ID0EXGAC15839609","WSODQ","true","ID0EXGAC15839609","off","false");


Current Berkshire Class B price:
Berkshire Hathaway Inc
US%3bBRK.B
4440.0 UNCH 0%
NYSE
Quote Chart News Profile[US;BRK.B 4440.0 --- UNCH (0%) ]

No April Fool's joke +PDP Shorts Will Have To Cover Huge Soon

Market News: After the BellThe close: No April Fool's joke

RTGAMThe biggest movers on Tuesday say a lot about just what sort of stock market rally the U.S. enjoyed: It was a rush for the beaten up and unloved, as investors piled onto a rally out of a fear of being left behind.Citigroup Inc. rose 11.3 per cent. JPMorgan Chase [amp]amp; Co., rose 9.3 per cent. Lehman Brothers Inc., the subject of debate over whether it would survive just a month ago, rose 17.8 per cent.

And Fannie Mae rose 19.7 per cent.But the rush was far more widespread than it might first appear, sending all 30 stocks on the blue-chip Dow Jones industrial average into positive territory. The index closed at 12,654.36, up 391.47 points or 3.2 per cent. The worst stock - the worst - was Coca-Cola Co., and even it rose 0.9 per cent.In this new, upside down world, Treasury bonds tanked. The yield on the 10-year U.S. Treasury bond[amp]nbsp;approached 3.6 per cent from 3.4 per cent previously.[amp]nbsp;The broader S[amp]amp;P 500 closed at 1370.17, up 47.47 points or 3.6 per cent - with 97 per cent of the stocks rising.

The gains narrowed its losses for 2008 to just 6.7 per cent and certainly raises the question of what's driving the equity rally. Is it beginning-of-the-quarter rotations among institutional investors? Are investors betting that the massive writedowns announced earlier by UBS and Deutsche Bank will be the last? Or is this rally the result of relief over lower commodity prices?

There are many theories.In Canada, the S[amp]amp;P/TSX composite index managed to post a respectable gain of 88.15 points, or 0.7 per cent. It closed at 13,438.28, even though it was weighed down by a big retreat among high-profile commodities.

Gold fell to $887.80 (U.S.) an ounce in New York, down $33.70. Crude oil fell to $100.98 a barrel, down 60 cents.As a result of this commodity pullback, the energy sub-index fell 0.9 per cent and materials fell 1.8 per cent. Financials, however, rallied 2.6 per cent.[amp]nbsp;Copyright 2001 The Globe and Mail