-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
MACD convergence and is set up for a crossover. Will be interesting, we've had some upward movement with previous crosses...check out the MACD crossover on the zero lines :-)
ADX is drifting down, current consolidation period may be weakening.
Slow stoch is in agrement
Posts: 362 | From: Buffalo | Registered: Feb 2006
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posted
AP Oil Prices Jump on Inventory Declines Wednesday March 7, 3:51 pm ET By Stan Choe, AP Business Writer Oil Prices Jump After Unexpected Drop in U.S. Crude Oil Inventories Last Week
NEW YORK (AP) -- Oil prices jumped by more than $1 per barrel Wednesday after the U.S. government reported an unexpected drop in crude inventories amid the lowest import levels since 2005. Light, sweet crude for April delivery rose $1.13 to settle at $61.82 per barrel on the New York Mercantile Exchange, after climbing as high as $62.10 earlier in the session. Brent crude for April delivery gained $1.11 to $62.50 a barrel on London's ICE Futures Exchange.
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Crude oil stockpiles dropped by 4.8 million barrels last week to 324.2 million barrels, the U.S. Energy Information Administration reported. Crude inventories are still above average for this time of year, but the decline surprised analysts, who had been expecting a rise of 2 million barrels, according to a Dow Jones Newswires survey.
Part of the fall was due to delays at the Houston Ship Channel, which helped limit overall imports to an average of 8.9 million barrels daily last week, the government said. That's down 650,000 barrels daily from the prior week.
Heavy fog in the channel held overall imports to their lowest levels since Oct. 7, 2005, Citigroup Futures Research energy analyst Tim Evans said.
"That means that we don't panic over this drop in crude oil stocks or the low import number, because we can assume that as the fog clears and the tankers move into the ship channel, imports are likely to rebound and inventories are likely to rebuild," he said.
Total U.S. motor gasoline inventories fell by 3.8 million barrels to 216.4 million barrels, a sharper decline than the 1.4 million barrel drop that analysts had expected. The government said refineries operated at 85.8 percent of capacity during the week, down from 86 percent the prior week.
Tesoro Corp. said Wednesday it would delay the startup of its Golden Eagle refinery's key fluid catalytic cracker due to a mechanical problem. The company restarted the cracker unit on Feb. 26, but a mechanical failure forced the unit offline on March 3. Tesoro expects to finish the maintenance around March 16.
Distillate fuel inventories, which include diesel and heating oil, fell by 1.3 million barrels to 123.2 million, the EIA reported. Analysts had expected a 2.3 million barrel decline.
In other Nymex trading, heating oil futures rose 2.01 cents to $1.7674 a gallon and natural gas fell 10.6 cents to $7.366 per 1,000 cubic feet. Gasoline futures rose 4.22 cents to $1.8955.
Markets are also watching developments in the Middle East over Iran's over failure to comply with demands to halt its uranium enrichment program. Washington is pushing for tougher U.N. sanctions on Tehran and introducing legislation to squeeze Iran by punishing foreign oil companies that invest in its energy industry, the heart of Iran's economy.
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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quote:Originally posted by IMAKEMONEY: IF YOU CAN GET IT AT .076 OR .078 I SAY BUY,JMO,
Still waiting for the results of the shareholders meeting that occurred on the 13th. I am expecting we should have a PR either tomorrow or early next week.
Today we had a bit of a dip, but ARCA wants to pick up a bunch of this around 0.071/shr, so I doubt it is going lower than that for the short term.
Rumor on RB, I-Hub and a few other forums is that the vote on removal of BDC status is 90% "yes".
Bears suggest that removal of BDC status will require the company to either R/S or Authorize more shares. Bulls suggest that after the vote, the "quiet period" will be over and AMEP can update shareholders of recent progress.
There are good arguments in both camps, but IMO the MM's wouldn't be so heavy on the bid if it were as bad as the bears make it out to be.
Regardless, I still think this is a good company, and has potential to move to at least 0.14/shr or higher, though one never knows how the street will react to the news when it comes.
GLTA, and always do your own DD. NR.
Posts: 2430 | From: CA | Registered: Jun 2005
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-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
KNOW ONE HAS EVEN BEEN PLAYING THIS N.R. ITS BEEN GREAT!!NaturalResources Member
Member Rated: posted March 16, 2007 11:58 AM -------------------------------------------------------------------------------- American Energy Production Inc. Announces Results of Proxy Vote to Withdraw from BDC Status
posted
I know... They haven't been doing a good job of keeping the shareholders informed... Regardless of how good or bad a company is, nobody likes a stock that doesn't put out a PR every month or so.... People play MO-MO and without PR's it's hard to get any going.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Hmmm.... either the street isn't impressed or everyone is out to lunch. Bid and Ask moved up but PPS is just sitting there.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Related Quotes Sym. Price Chg. AMEP Trade News 0.077 0.002 American Energy Production Inc. Announces Results of Proxy Vote to Withdraw from BDC Status
Mar 16, 2007 11:56:21 (ET)
MINERAL WELLS, Texas, Mar 16, 2007 (BUSINESS WIRE) -- American Energy Production Inc. ("AMEP") (AMEP, Trade ) announced today that a special meeting of shareholders was held in Mineral Wells, Texas on March 13, 2007 to vote on the proposal to withdraw AMEP's election to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended, and to elect three directors to the board of directors. Shareholders approved all of the proposals during the meeting.
SOURCE: American Energy Production Inc.
American Energy Production Inc. Charles Bitters, 210-410-8158
DOMS has a huge bid in at 0.065. That should be the bottom today if this thing keeps bleeding.
I wouldn't count on it being that low for too long however, rumor has it there is a lot of news that has been held back since May of 06 due to the SEC review of AMEP's removal of BDC status. Should have some good PR's over the next few weeks that IMO will boost the PPS.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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Member Rated: posted March 16, 2007 06:08 PM --------------------------------------------------------------------------------
quote: -------------------------------------------------------------------------------- Originally posted by IMAKEMONEY: YEP STILL BUYING, JUST GOT 40,000 AT .07 AND I WILL KEEP BUYING LOL! --------------------------------------------------------------------------------
lol did you take profits when it was in the .08's a few weeks ago? -------------------------------------------------------------------------------- Posts: 410 | From: MI | Registered: Nov 2005 | IP: Logged | IMAKEMONEY Member
posted March 16, 2007 12:28 PM -------------------------------------------------------------------------------- I GOT FILLED AT .073 THINK WE RUN SOON, BUT I HAVE BEEN FLIPPING FROM .07s TO .08 FOR MONTHS!
-------------------- Give me your Money.
-------------------------------------------------------------------------------- Posts: 5393 | From: San Diego CA | Registered: Jul 2006 | IP: Logged |
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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posted
I LIKE THIS POST--glad I bought your amep stock (2 Ratings) 17-Mar-07 01:20 pm It is true that folks should own a little xom or chk or cvx for blue chip quality....It is true amep is not an investment....its value to me is as a high risk venture and in my view the share price could be considerably higher in JULY....The oil and gas in the ground under the 7000 acres hasn't disappeared...The drilling program was delayed while the sec and bdc matters were resolved...soon the press releases will begin on the results of the new wells....In my view you sold at the wrong time and on exactly the wrong day but each to his own....the good news is about to start as the restrictions on PRs are lifted....jmho
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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posted
AP Oil Prices Rise Above $64 a Barrel Wednesday March 28, 4:46 pm ET By Jackie Farwell, AP Business Writer Oil Prices Reach 6-Month High Amid Iran Tensions, Dropping Inventories
NEW YORK (AP) -- Oil prices rose to a six-month high above $64 a barrel Wednesday amid rising tensions between Iran and the West and as inventories declined in the U.S. Though denied by the U.S. military, it was rumored that Iran fired a missile at an American ship in the Persian Gulf.
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Iran, one of the largest oil producers, is located along the Strait of Hormuz, through which much of the world's oil is transported. Traders worry that oil supplies could be disrupted if unrest escalates there.
Falling U.S. inventories of crude oil, gasoline and distillates added to supply concerns, keeping prices high.
Rumors about a military confrontation spurred panic buying in after-hours trading Tuesday, sending oil prices above $68 in a matter of minutes. Rising tensions between Iran and the West have created a potentially dangerous situation in the Gulf and markets are jumpy.
Prices fell back within a couple hours, although they remained higher than Tuesday's settlement price of $62.93 a barrel. Another possible calming factor was word from Iran's foreign minister that a detained female British sailor would be freed on Wednesday or Thursday.
Iranian state TV aired video of the female captive, along with the 14 other British sailors and marines seized last week, saying the British boats had "trespassed" in Iranian waters.
Light, sweet crude for May delivery on the New York Mercantile Exchange rose $1.15 to settle at $64.08 a barrel. It was the highest close since Sept. 11, 2006, but still a far cry from last year's record highs, which topped $78 a barrel in July.
Brent crude for May delivery rose $1.18 to finish at $65.78 a barrel on the ICE Futures exchange in London.
Global markets are entering a new phase in which geopolitical instability like this week's tension in Iran will weigh more heavily on oil prices, said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago.
"The risk to be involved with oil has gone up dramatically in just a couple of days," he said. "You wonder if this incident is going to be the first or the last."
Even if Tehran releases Britain's detained female soldier and tensions ease, the sustained demand and lower supplies seen so far this year would buy back any potential price drops, Flynn said.
"It looks like the path of least resistance is up," he said.
The U.S. Energy Department reported that crude oil inventories slipped by 900,000 barrels last week to 328.4 million barrels. Traders had been expecting a gain of 1.1 million barrels, according to analysts polled by Dow Jones Newswires.
Inventories of gasoline and distillate fuel, which include heating oil and diesel fuel, also declined as traders expected. Gasoline supplies fell by 300,000 barrels to 210.2 million barrels and distillates fell by 700,000 barrels to 118.0 million barrels.
Refineries operated at a capacity of 87 percent last week, slightly higher than the previous week.
Gasoline futures fell 1.58 cent to settle at $2.0572 a gallon.
Heating oil futures rose 4.1 cents to settle at $1.8274 a gallon on the Nymex, while natural gas prices climbed 5.5 cents to settle at $7.558 per 1,000 cubic feet.
Still, concerns about the Middle East were likely to remain the main driver of prices. Tehran continues to hold the 15 British sailors it captured on Friday, giving no indications of their whereabouts despite repeated pleas for their release from Britain, the United States and the European Union.
Also, the U.S. kicked off a military training operation in the Persian Gulf on Tuesday that commanders said was meant to send a warning to Iran. The operations are the largest show of U.S. force in the Gulf since the 2003 invasion of Iraq.
"Oil traders are on notice that this thing could blow up at any time," Flynn said.
Associated Press writers George Jahn in Vienna, Austria and Derrick Ho in Singapore contributed to this report.
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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