Falklands : Hydrocarbons Daily Record Tuesday, 26 February 2008
Submitted by Falkland Islands News Network (Juanita Brock) 27.02.2008 (Article Archived on 12.03.2008)
Now that crude is spiking at $100.00 a barrel people will stop buying and more of us will switch to alternative energy.
HYDROCARBONS DAILY RECORD TUESDAY, 26 FEBRUARY 2008
By J. Brock (FINN)
At 1930hrs LMT on Tuesday, 26 February 2008 Light Sweet Crude was trading at $100.88 up $1.65 on the New York Mercantile Exchange. Brent Crude was trading at $99.47 up $1.78 on London’s ICE Futures Market.
ANALYSIS:
The weak dollar and a cold snap in the US helped to increase the price of crude today to over $100.00 per barrel. Granted, those people earning the money from crude prices aren’t running charities but once people begin to use alternative energy they will feel the pinch and perhaps will have a vague idea about what the rest of us are going through because of their greed. The simple fact is that demand lowers when price rises. A point will be reached when more people cannot afford hydrocarbons products and those with any cash to spare will spend it on alternative energy so their money doesn’t go up the chimney every winter and out the exhaust pipe every summer.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Tuesday, 26 February 2008.
TLW: 628.00 up 5.00, DES: 47.00 up 0.50, FOGL: 126.00 unchanged RKH: 57.50 up 1.00, BOR: 60.25 up 0.25 PRE: 13.25 down 0.50, GBP: 7.25 up 0.25, GPK: 425.00 unchanged, BLT 1648.00 up 23.00, RDSA: 1846.00 up 3.00 RDSB: 1818.00 up 3.00
New York Stock Exchange:
XOM: 89.89 up 0.76 (USD)
THE MARKETS (26/02/08)
FTSE100: 6,087.40 up 87.89, FTSE250: 10, 383.90 up 108.61 SmallCap: 3,287.50 up 29.07
DJI: 12,684.92 up 114.70 NASDAQ: 2,344.99 up 17.51 S&P500: 1,381.29 up 9.49
INTERNATIONAL DEVELOPMENTS:
(United States)
CALGARY, ALBERTA, Feb 25, 2008 (Marketwire via COMTEX) -- Kodiak Energy, Inc. (TSX VENTURE:KDK)(OTCBB:KDKN) ("Kodiak" or the "Corporation") is pleased to announce that it has received all the required permits and licenses for its drilling program in New Mexico.
http://www.foxbusiness.com/markets/industries/energy/article/kodiak-energy-announces-commencement-drilling-new-mexico-properties_492089_11.html
Alaska Gov. Sarah Palin is sending her gas-line team to Houston on March 25 to update attendees at the 4th Annual Pipeline Opportunities Conference with the latest news on the proposed North Slope natural gas pipeline project.
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080226005935&newsLang=en
(Spain)
Fluor Corp. said Tuesday it has received a contract worth about $1.3 billion to double a Spanish oil conglomerate's refinery expansion.
http://www.chron.com/disp/story.mpl/ap/fn/5570404.html
REGIONAL DEVELOPMENTS:
(Bolivia)
Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) CEO, William Petty, is pleased to announce that Franklin Oil & Gas, S.A. (a wholly owned subsidiary of Franklin Mining, Inc.) has signed an agreement with SAE Group (an Argentine, Bolivian, Peruvian corporation) to provide rigs to an operating company in Bolivia.
http://www.earthtimes.org/articles/show/franklin-oil-amp-gas-bolivia-sa-to-provide-rigs-to,292745.shtml
(Colombia)
With increased output from new production wells, Colombia's state oil company Ecopetrol announced Monday it will hike its annual production by 12 percent until 2015. Under the firm's 2008-2015 business plan, its annual oil production will be hiked to 1 million barrels a day.
http://www.allheadlinenews.com/articles/7010140656
(Ecuador)
Ecuador wants to reach an agreement with U.S.-owned City Oriente to end its oil production deal, the country's oil minister said on Monday, softening the government's tone in talks with foreign oil companies.
http://www.reuters.com/article/bondsNews/idUSN2524145620080225
(Venezuela)
President Hugo Chávez ordered quick and decisive action Sunday in order to liberate 200 Yaruro indigenous people who have been encircled by fences built by Agroflora, an affiliate of the British Vestey Group, according to denunciations filed by Representative Cristóbal Jiménez and ratified by the Minister of Agriculture and Land, Elias Jaua. Also, 800 other indigenous people remained outside of the fences. "The farm put up a fence around them and they can't get out without permission from the farm owners," Jiménez explained.
http://www.venezuelanalysis.com/news/3198 LOCAL DEVELOPMENTS:
(Desire Petroleum) RNS Number:7984O Desire Petroleum PLC 26 February 2008 Desire Petroleum PLC Desire Petroleum plc ('Desire' or 'the Company') Grant of Share Appreciation Rights Desire announces that it has today granted share appreciation rights ('SARs') over ordinary shares in the Company ('Shares') representing 0.4% of the current issued ordinary share capital to Robert Lyons, the Company's recently appointed non-executive director. SARs are designed to deliver a net gain in Shares equal to the increase in the price of a Share between grant and exercise. The number of Shares actually issued following exercise will therefore be less than the percentage of the current issued share capital to which the grant relates. Upon exercise of the SARs, the awardee will be issued with Shares with a marketvalue at the date of exercise equivalent to the notional gain that the awardee would have made, being the amount by which the aggregate market value of the number of Shares in respect of which the SAR is exercised exceeds the aggregate Base Price of that number of Shares. The Base Price of a SAR will be 46.5 pence per Share (being the closing middle market price of a Share on the dealing day immediately preceding the date of grant). The current issued share capital of Desire is 227,128,012 Shares. No consideration is payable on the grant of a SAR. The SARs granted to Mr Lyons will become exercisable on 26 February 2011. Enquiries: Desire Anna Neve Tel: +44 (0) 20 7436 0423 Seymour Pierce Limited Jonathan Wright Tel: +44 (0) 20 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
|
