In Aug 03 the price of URMP was .06. Its gone up 1000% since then. At the time they had arranged for exclusive use of Earth Energy Resoources catalyst which removes hydrocarbons from tar sands for less than 15% of the cost of using steam plus since it recycles slurry water it doesn't need trailing ponds. There is a drought in Canada that has lasted for years and so this is good. I bought the stock a while back at .47 and have watched it go nowhere. I figured that people didn't beleive that the process would work and were waiting for confirmation. The company is now testing 4 tons of tar sand and all of a sudden the stock is moving. I love it. Low float, potential for hundreds of millions of barrols of oil and don't forget that there are strong indiacations of free oil at the bottom of the tar sand plus oil reefs such as the Keg River Reef. Looks like somebody knows something and maybe there will be a really nice PR coming out. I'm buying more. If their process works, and considering all the oil that they have on their property, does someone think that we could have a +$100 stock around the corner?URMP doing follow up testing of its oil shale
May 24: URMP doing a 6 hole drilling program to obtain four tons of oil shale for follow up analysis of its oil content. Previous testing indicated 59% aromatic content of benzene, stryene, and napthalene. Also, in a related story, the Canadian government has announced that due to the multiyear drought, that they are going to start making companies pay a fee for using water that they don't recycle back into use. That would include all the companies that extract tar sands using steam extraction. URMP doesn't use steam extraction. Their planned method of extraction is still in the testing phase, and that is one reason why their stock price is down, but the process that they are testing is so efficient that it leaves behind environmentally clean sand. Considering that the price of oil is steadly rising and that the Canadian government might charge for the use of water tht isn't recycled, this looks like a good stock to be in. If steam extraction becomes too costly, other companies, such as the ones I mentioned in a previous post, may have to pay them to use their process.
STAR GAZER
Member posted December 15, 2003 04:04
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URMP Uranium Power Corporation. There are two
trillion barrols of oil locked up in oil sands in Utah, Colorado, and Wyoming and one trillion barrols in Canada. 6x as much oil as in Saudi Arabia. Until now it was too difficult to extract it. Suncor Energy and some other large energy companies have built plants that extract it by pumping steam into the deeper formations to produce bitumen a sticky tar like material that is too thick to be sent through pipe lines and thus has to be upgraded at great cost. Three plants have been built but they are highly polluting, have left 20 mile wide tailings that have left over sand containing 5% residue bitumen + toxic waste. Also the plants had severe cost over runs. Projected cost was $1.7 billion Canadian and ended up being $3.7 I've previously read that the plants are money loosers. Because of environmental concerns it took 5 years to get approval to build the plants and another 5 years to build them. Uranium Power Corporation in a move that, from what I have read, surprised everyone, bought Western Petrochemical Corporation which owns one million acres of the high density oil tar sands of the Pasquia Hills Oil Shale formation. 50,000 acres contains 55% of the oil sand. That 55% has proven content of 300 million barrels of oil and potential of 8 billion barrels of oil. Normally you don't include potential oil into the calculations of a companies reserves untill more closely drilled holes have proved what the actual amount is present, however, ALL 44 holes showed the same composition. The company will drill the required 77 infill holes starting in Feb '04, but it is virtually assured that it will show that the oil sands on their overall property contain 12 BILLION BARRELS
of OIL. THIS IS BEYOND A HUGH AMOUNT OF OIL. Normally, only a fraction of oil from oil sands can be extracted. The surface layers can be stripped mined and the deeper layers are subjected to steam extraction. Even the strip mined sand only produces the thick bitunen which has to be expensively upgraded to oil that can be transported by pipelines. URMP's oil sands are in a layer 148 ft thick and
with an over burdan of 64 feet so it won't require steam extraction, but what is even more important, URMP HAS JUST ACQUIRED THE EXCLUSIVE LICENSE for Canada and Central and South America TO USE EARTH ENERGY CATALYST'S REVOLUTIONARY PROCESS FOR EXTRACTING ALL THE OIL FROM OIL SANDS AT BODY TEMPERATURE AND IN THE PROCESS THE BITUMEN IS AUTOMATICALLY UPGRADED INTO OIL. What is left behind is ENVIRONMENTALLY UNCONTAMINATED SAND. So the process does not require environmental approval. Kevin Ophus, the president of Microbial Energy company of Alberta Canada, has developed a process where a biocatalyst upgrades bitumen to medium grade oil which ealily flows in a pipeline. In a test plant the process extracted basically 100% of the bitumen from the tar sands at a temperature of 104 to 140 degrees F and produces medium grade crude oil which can be readily transported by pipeline and leaves behind environmentally clean sand. Modular plants can be manufactured in MACHINE SHOPS in TWO WEEKS and loaded onto two 60 foot tractor skids and be shipped by tractor trailors to any site and plugged into a power source. If oil is selling at $30 a barrel, the module will pay for itself in 5 months. Multiple modules can be used in large tar sand deposits. In addition to large deposits, there are thousands of smaller deposits in over 70 countries in the world that can use the modules. Several large producers have shown an interest in acquiring modules. As I originally said, the company has one million acres of land that it acquired. Test drills have shown that it has 5 layers that appear to contain oil and gas. URMP has formed a joint venture with Powermax Energy which will be allowed to drill shallow 3,000 foot wells on URMP's property. The wells will cost $100,000/well to drill. So if the MILLION ACREA property has oil or gas, that will be an icing on the cake. In addition to the shallow wells, the company is conducting seismic tests to see if there is a layer of deep oil. In addition to all of this, in June they acquired a 52% stake in Lexoil Inc which is testing a 24 mile area of the Kig River Reef formation, an area with potentially significant oil deposits. URMP has only been trading for 37 months. It started at .63, had a quick spike to .75, went down to .20 and since then has edged up to the .5/.4 area. I have spent years (over a decade) trying to find an oil shale company because I knew that the oil shale deposits contained HUGH deposits of oil. World wide oil production is falling and many people have said that in 10 to 20 years we will be basically running out of oil. The hugh oil formations of the oil shale deposits would turn this around, but prior to this only a small percentage of the oil sands was considered to be available for extraction. With this new process all that changes. Of course, this is a small company and only a pilot plant has been built, but considering its potential, I think that it has a great risk/reward ratio. URMP's bid/ask is .38/.41 Friday it traded mostly .39/.40
so I have put in a buy order at .40 By the way they ONLY HAVE 13 MILLION SHARES. A nice small number for a penny stock.
"The tradgedy of life doesn't lie in not reaching your goal. The tradgedy lies in haveing no goal to reach. It isn't a calamity to die with dream unfulfilled, but it is a calamity not to dream. It is not a disgrace to reach for the stars, but it is a disgrace to have no stars to reach for. Not failure, but low aim is a sin." Benjamin Mays
As a STAR GAZER, I hope to see my stocks shooting to the stars. That means taking calculated risks and this stock certainly seems to have a good risk/reward ratio.
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Member posted December 15, 2003 10:00
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I like this. Being from Clorado and watching what they're doing on the western slope as they go after shale oil adds credence to what your describing as huge potential.
Thanks for the tip.
hat they have a
HUGH AMOUNT OF OIL on their property, once they have verified the amount of oil on their property and that they can extract it at a profit (which still has to be proved) the stock could start a multiyear climb upward and I can't even guess how high that could be, but it will certainly be a lot more than its present pathetic price. On the other hand, its always nice to buy a good stock while its price is
in the pathetic range. The Canadian government, states that
they haven't decided for sure if they will charge companies an extra fee for using water, but if they do, then the companies that I mentioned in a previous write up might have
to pay them royalties to use their process.
(Voluntary Disclosure: Position- Long)
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