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that puts us at around $25.00 or so..also..notice how they are doing these little shakes and it appears no or very little buying is allowed at the ask when they do it,this to makes me feel like they are trying to pull out some shares without giving any up.
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sure is holding what appears to be a fairly new base over .06...lots of money stepped in above .058's yesterday and I feel they are in for an easy double very soon.....EOD rally today after another slight dip? we'll see soon I guess.
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Make sure you re-caulk all your windows prior to winter to help keep the warm in and cold out.
Will help keep those damn heating bills down. F*CKING NATURAL GAS! LOL
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
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down 2.2%....we'll live LOL.....wonder if our down day this week is today instead of Friday? now wouldn't that be nice. I am impressed that it did stay in the .06's after it finally broke thru...everytime we broke into the next highest penny it retraced back under the next day and then recovered the next day and closed higher.I feel we have a strong base at .058's now but it looks like .06 has built up heavy the past day.News tomorrow may send this insane but I see AMEP also has no problem putting news out on Fridays to,(something I don't really care for but news is news right,Fridays can be a waste of a good PR)
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American Energy Production, Inc. engages in the acquisition, development, production, exploration for, and the sale of oil and gas in the United States. The company, through its subsidiary, Bend Arch Petroleum, Inc., holds 1116 acres in Pinto, Texas, and also a 50% interest in 400 acres in Parker County, which includes five producing natural gas wells, as well as natural gas pipeline. American Energy Production was founded in 2000.
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I just got done reading The Raging Bull message boards and man they are crazy over there. Hey Quest, now I know exactly why you don't post over there anymore It's rediculous. Way too many bashers that don't even make sense!
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POSTED: 5:06 pm EDT September 28, 2005 UPDATED: 10:04 pm EDT September 28, 2005
PHILADELPHIA -- The latest shockwaves from Katrina and Rita could rock your household budget this winter.
Video: PGW Raising Rates
Energy costs have skyrocketed in the wake of those hurricanes and now PGW is requesting a great big rate hike from the Public Utility Commission.
"I'm scared about what's going to happen this winter. I've already seen my heating bill go up," said one Philadelphia resident.
The rate hike request might just be the beginning of a long, cold process that could have your winter heating bill boiling over.
PGW wants to increase rates for natural gas by another 19.4 percent. That is on top of a 5 percent increase put in place on Sept. 1. The 19.4 percent increase will boost the heating bill for a typical customer by about $335 a year. If you paid an average of $235 a month last year, this year you will be paying about $300 a month, PGW said.
To make maters worse, the U.S. Energy Department thinks natural gas prices will skyrocket by as much as 30 to 70 percent this winter.
"I'm really upset. They should keep it low. People can't afford to pay for gas," said Evelina Jackson.
"What we are hoping people will do is get prepared because we're telling you now that gas prices are going to be phenomenally higher than they were to the tune of 19 percent above what they were just a few days ago. People need to be ready this winter," said Doug Oliver, of PGW.
It is more important than ever to keep up with your bills. A new state law passed last year allows utilities companies to shut off gas and electricity during the coldest winter months for nonpayment.
PGW said that if you think you are going to have trouble with the rising prices, you should call the company to arrange for a billing plan.
If you need some help figuring out how to pay for the rising cost of energy, click here for a list of contacts and ways to save money during the cold months to come.
On Friday, NBC 10 News will have a home heating phone bank with experts from all of the local utilities here taking your calls.
They will help you sign up for budget plans, figure out if you are eligible for assistance and even tell you what you can do to lower your bills this winter.
The free phone bank will take place Friday from 4 p.m. to 6:30 p.m.
The chairman of the Natural Gas Supply Association Wednesday said all the damage to oil production facilities caused by Hurricanes Katrina and Rita, means you’ll pay higher heating bills.
And as you brace for higher home heating costs this winter, Metro is also preparing for what it could cost to keep city buildings up and running.
Metro is responsible for paying the Natural Gas bill at buildings like the Municipal Auditorium and The Gaylord Entertainment Center just to name a couple. So, if gas prices continue to rise, it could have a major impact on next year’s budget. Now, they’re trying to come up with ways to cut costs.
Metro has several buildings on its Direct Energy system. Metro Finance Director David Manning says that means Metro buys some gas in “gas months” in advance in case of situations like this or others that can cause the price to drastically rise.
“That's one of the reasons why we've been in this posture of buying gas ahead not to beat the system, but to try and maintain stable pricing,” said Manning.
Currently, metro has a supply that will last through next May. Finance administrators are holding off on buying gas right now. Manning said they’ll hold off for a few months while they wait to see what will happen in the future.
From today's MSN Money, Jim Jubak's article profiles "unconventional" gas producers that take NG from shale formations, etc. Here's an excerpt:
"You'll note that all three of my picks for CNBC's "Morning Call" emphasize natural gas over oil and land-based gas production over gas from the Gulf of Mexico. That's because I think natural gas prices will go up faster than oil prices over the winter and through 2006. The recent hurricanes also are adding a "safety" premium to land-based natural gas production. That's why my two "exclusive" picks for readers of CNBC.com on MSN Money are both conventional gas plays. I think the fundamentals for natural gas companies, even if they're producing from conventional sources, will drive these stocks higher."
Read ing the article, he looks back at the price/profit ratios to pull oil and NG out of the ground. The breakeven point was approx $25/barrel, and $30/barrel put them in the black. Currently, analysts don't expect the barrel price to go up as dramatically as it did from 2003-2004, looking for it to drift around the current price for the near future. That will keep it profitable for unconventional producers, including our little AMEP.
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I think if Quest is right and the inventory comes back as low this stock will go up again just because people will be concern about how high the price will be for gas this winter. While this stock is in the 5's I just bought more. I think this can only go up.
-------------------- Lookin for the money
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More than 3 million barrels per day (bpd) of fuel processing capacity remained shut after hurricanes Rita and Katrina, and Washington has said that up to 15 percent of U.S. capacity could be out for at least another couple of weeks.
The refinery outages have sparked fears that wholesale and retail oil prices may surge ahead of the northern hemisphere winter.
"What we need is not (crude) oil but heating oil and natural gas," said Kwan. "Unfortunately, there's no strategic reserves for them."
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