What’s the “World’s Most Secretive Company” that’s “Dry Drilling” in Canada?

You can always count on a good story from a Phase 1 teaser — Phase 1 is the fancy top-of-the-line upgrade newsletter from Stansberry & Associates ($5,000/year, though it’s usually “on sale” for $3,000 when they’re promoting it as they are now), currently edited by Frank Curzio, and it has historically focused on lots of small-cap companies either in the natural resources or biotech space.

Over the last six months or so they’ve spun tales of the “Chi-Tab” computer revolutionizing the world, and of the “Supernova Gold” mother lode, and no matter what the tale is, I always get a ton of questions from my readers. Partly that’s because of the huge marketing reach of Stansberry and the rest of the Agoraplex, but partly it’s just because the stories are enticing.

So what is the story this time? Basically, it’s that Curzio has found a “dry drilling” company in Canada that is guarding “what could soon prove to be the most valuable financial secret in the world” in a new fracking technology. Here’s a little bit from the beginning of the letter to give you a taste:

“Why we spent $20,000 (and recruited a former CIA officer) to track down the tenants of this building

“(They’re closely guarding what could soon prove to be the most valuable financial secret in the world. Early investors could make a fortune in the next few years.)

“The company I’m going to share with you, is the most secretive firm we’ve ever come across in 11 years at S&A Research…

“They’ve never been profiled in Barron’s… The Wall Street Journal… Forbes… Fortune… or any other mainstream media publication.

“We even spent $20,000 on financial software (Capital IQ) – usually reserved for hedge funds – to research this company, and we came up empty. Something we’ve never seen happen before in our business.

“When we called the company’s office they refused to talk to us, and their General Counsel sent us an email stating they would not disclose the information we were looking for.”

I didn’t copy the photo over, but the “this building” part refers to a picture of an office building in downtown Calgary that they say they say is home to this “secretive” company. We’ve seen this tactic used in ads before a few times, showing a photo of the company’s office or building — I’d guess that’s because it reinforces the feeling that these newsletter guys must be for real because they’ve gone there and checked it out, and it gives some confidence that it’s a “real” company and not a fly by night stock promotion or something like that.

And Curzio tells us that this company is secretive because they’re “sitting on such a potentially lucrative opportunity, they don’t want their competitors to know what they’re doing.”

Really? Well, maybe. There are two parts to this — one is the huge opportunity of shale gas and shale oil, dependent on developments like hydrofracking and horizontal drilling, that have opened up lots of new oil and gas fields. That’s certainly true, and when the ad quotes an executive as saying that this is a “once in a century event” it’s a legitimate quote — but that’s not to say this particular company is necessarily at the heart of it. The ad draw the picture of the huge opportunity, which most of us have heard of and is certainly real …

… and then they talk about a specific company that they seem to think will revolutionize this business, and you can then draw the connection between a big opportunity and a big innovation, and start to see dollar signs dancing in your eyes.

The story actually leads off with the silliest part of the tease, this stuff about the company being so secretive that they won’t even expose their address or give the Stansberry folks the info they requested (more on that in a couple minutes), but they do actually get into some of the detail of what they say makes this company and their “secret” so special. Here’s some more from Curzio:

“the main reason I hired my ex–CIA contact to travel over 1,900 miles to go visit the secretive company.

“Because, the new resource find – which the small company sits in the middle of – may be the most potentially lucrative formation to date…

“And they hold the key to unlocking it….

“This new formation is located in a remote territory of Northern Canada, which according to the American Association of Petroleum Geologists, covers an astounding 3 million acres….

“Not surprisingly, Canadian Discovery Digest calls it ‘… The most significant [deposit] in North America.’

“‘The enormous [resource] potential will reshape global energy markets over the next decades,’ says Canada’s Globe and Mail.”

He then goes on to talk about the huge investments that are being made in this area of Canada by pretty much every oil company you can think of (and he lists ’em), and then he starts to tell us that this company isn’t going to buy the land, or extract the oil and gas.

“But suspiciously absent from this list is the secretive company we went to visit.

“A company that won’t extract a drop of oil or gas from this new find… and who won’t set up a single drill rig, or tunnel 7,700 feet underground, either.

“Then what will they be doing?

“It’s the reason for the company’s intense secrecy…

“And why I expect this could create some of the biggest gains of any stock I’ve ever researched in my entire life.”

I know, right — are you just about so excited that you have to change your shorts? Me, too. So how about some details?

Well, we get a spiel about how these tight gas and shale gas fields in Canada — particularly the one teased above that’s such a hot ticket — are different from the shale fields in the US like the Barnett and the Marcellus. In Curzio’s words:

“Simply put, the traditional extraction methods won’t work in Canada.

“But that’s where this secretive company comes in…

“You see, this company has quietly developed the world’s most technologically advanced, patented process, for extracting natural gas without using any fluids.

“In short, they have developed a technique using nitrogen gas instead of water and chemicals.

“As the four page document stated –which my ex–CIA contact uncovered for me:’…Dry System Uses 100% Nitrogen Gas.’

We call it ‘dry drilling.'”

So now we’re getting somewhere. Here are a couple examples of this company’s work to help us narrow it down to which “secret” specialist he’s teasing:

“In over 400 wells, this nitrogen–based, ‘dry drilling’ technology has doubled the rate of production….

“For instance, on a project in Central Alberta, after two months of using this company’s patented process, they were able to extract 3.5 times more gas than regular methods.

“On another project in Southeast Alberta, after just one month, this company’s ‘dry drilling’ technology extracted 6 TIMES more natural gas versus conventional methods.”

Starting to get some stuff that I can feed into the mighty, mighty Thinkolator now … how about some more?

“… 3M – which makes everything from Post It Notes to contact lenses – wants a piece….

“They’ve given their financial and technological backing to this small company – and their dry drilling technology. ”

OK, good. And we also learn that …

“In October of 2010, ExxonMobil signed a licensing deal with this company.”

Curzio tells us that the client list is not public, but that …

“we do have good reason to believe that these guys are working with three major players involved in the big Canadian natural gas formation. “

So that’s pretty much it in terms of what we’re told about the company — Curzio tells us that they’ll get into more details when they have their special conference call on May 19, They’ve recently been doing these conference calls for their Phase 1 teaser picks, I’ve never heard one so don’t know what they’re likely to share — though unlike some previous conference calls they’ve promoted, the company CEO apparently won’t be on this one, they’ll be relying on their favorite wildcatter and on Matt Badiali for details … which probably flags this as a company that’s less investor relations and PR-focused than some tiny miners who’ve jumped at the chance to confab with S&A investors, but that’s not saying much.

But I told you I’d get more into the “fun” part with the ex-CIA guy, so …

The “secretive” nature of the company is, of course, questionable — it makes for a great story, but the part about hiring a “former CIA officer” to track them down is perhaps a little bit silly. They’re a public company, after all, and presumably a legitimate one, so why the secrecy?

Here’s the “expose” of their non-secret secret (their address):

“They claim to be located in a building in Alberta, Canada… but my research indicated the building contained an art gallery, a bank, a Merrill Lynch office, an Asian restaurant – but no sign of them.

“I even contacted the property manger of the building to verify their location, but he didn’t return my calls or emails.

“That’s when I decided to reach out to one of my top contacts – a former CIA officer –to investigate this company and uncover what they were hiding. “

This is apparently what the ex-Cia contact of Curzio’s told him:

“As you indicated, there’s no trace of these guys on the building registry, but I managed to bypass security and locate their office on the 29th floor. The secretary was well trained and wouldn’t answer a single question or allow me to meet with anyone. She didn’t even want to give me a business card. But your money was well spent. While I was there, I had access to a four–page document that confirmed everything you’d suspected.”

But what you really want to know is, who is it? Right?

Well, the Thinkolator did have to do a bit of work on this one — nice to get a workout for a change. And I can tell you that this is almost certainly …

Canyon Services Group (FRC in Toronto, CYSVF on the pink sheets)

Why is this the match? Well, first the silly part — they are in a building that looks exactly like the one in the photo from the teaser, and they are on the 29th floor (suite 2900, so they might have the whole floor — dunno). Their address, which they’re perfectly happy to disclose on their website and in their filings, is 255 5 Ave SW, in Calgary — in the Bow Valley complex of office buildings. And yes, there is a Merrill Lynch office in the same building as well as an art gallery, a bank branch, an asian restaurant, etc. And, this being Calgary, there are also lots of offices of other oil and gas companies.

And no, I don’t know or much care if their name is actually on the business directory in the building lobby, though I applaud the persistence of Curzio’s guy in going to check that.

But the business itself is a match, too — Canyon Services is an oil services company with specialization in, among other things, fracking and well stimulation. Here’s how they put it on their website:

“Canyon Services Group Inc., is a publicly traded (FRC-T) Canadian oilfield service company that provides specialized fracturing and well stimulation services.

“Our mission is to provide leading edge well stimulation and cementing technology to our customers. Canyon provides its services to our customers focusing in both conventional and unconventional reservoirs, including natural gas from fluid sensitive, low pressure formations, shales, and tight gas.”

And no, I didn’t need a secret code or handshake to access their website. The stock has done very well over the last year and a half, running from about $2 to near $15, and it’s near the top of that ladder now at about $13.50, and the only thing that seems particularly secretive about them to me is that they don’t issue a lot of press releases.

The company is of a decent size, with a market cap now at just under $900 million, and it seems to be very decently valued, with a trailing PE of about 14 and a 2011 PE of about 10, with analysts clearly expecting more significant growth in their earnings after that (the 2012 earnings are expected to be $1.71 a share, which would mean a forward PE of less than 8). They just started to pay a semiannual dividend of five cents a share back in January, so though it’s tiny (if they keep it steady, that means a yield of less than one percent) it is generally a good sign when a company that has significant capital investment plans also thinks it has the cash wherewithal to start paying a dividend.

Are they doing something secret that’s about to change the face of fracking? Well, on that you may have to make your own decisions. They are partnered with 3M on part of this advanced technology, 3M apparently helped to develop their “light weight proppant” (LWP) technology that they’ve trademarked, and the “dry drilling” technology is apparently their nitrogen-based fracking that uses nitrogen to inject the LWP — I don’t know how secret it is, since they’re trying to get customers and they have it on their website (they call it the “Grand Canyon Process”), but it does sound impressive to a layperson (that’s me). The nitrogen part isn’t new — lots of folks do fracking with nitrogen and some other folks do seem to call it “dry fracking” or “dry drilling,” but it’s specifically this new kind of proppant that’s a technological development specific to Canyon and 3M.

And they do have a licensing deal with ExxonMobil that was signed last October, so that’s another match — though it’s Canyon that’s licensing technology from ExxonMobil, details are in a press release here.

Not being ex-CIA (though I did interview there once — long story), I can’t say that I wrangled a special four page document out of them as Curzio’s guy apparently did, but I can say that you can find their investor presentation on their website here.

So what else should we know about them? Well, they do have offices that should be able to serve that hot new area of shale gas exploration in Canada that Curzio teases — I don’t know how precise he was being, but the big area in question is probably either the Montney Shale or the Montney and the Horn River Shale combined, all of which is part of a big push for discovery in northeastern British Columbia and just across the border in northwestern Alberta, and their office in Grande Prairie is probably in the heart of the action up there. It is a huge area with, as far as I can tell, somewhat challenging gas extraction demands and different fracking techniques.

I don’t know if Canyon has a particular edge on fracking technology in these newer shale discoveries, but they are certainly focusing broadly on the whole Western Canada Sedimentary Basin, which ranges from this area of BC through all of Alberta and Saskatchewan and further, and is the source for most of Canada’s oil and gas, and more particularly on the deeper basins that require more specialized (and expensive) equipment.

They have also recently pushed expansion on the eastern end of that range, into the Bakken, and though they are pushing this LWP and nitrogen fracking technology, that’s still described as experimental so I assume that most of their revenue still comes from somewhat more “standard” hydrofracking and they also provide a number of other related services, including nitrogen, sand and CO2 supply and application, coiled tubing, and acidizing stimulation. And no, I can’t explain very well what all of those are. They claim to have the most advanced pumping fleet, with great capability for the deep basins like Montney and Horn River (which require higher horsepower), and they have greatly increased their capacity in the last couple years, with more increases coming online this year. They do see the Horn River as a significant expansion opportunity.

So … it sounds like an intriguing investment, to be sure — I haven’t bought shares (thought I oughtta write to you about them first, which means even if I remain interested after reading further, I have to wait at least three days), but they are reasonably valued, they do have an interesting new technology with this “dry drilling” nitrogen suspended LWP that they hope will prove more effective than sand or other proppants (this is still in the experimental stage, as far as I can tell), and they are growing nicely and expanding services in a hot area … it could certainly lead to a backlash if natural gas prices collapse or even stay relatively low, since that should over time lead to less investment in extraction, but that’s a risk with any natural gas services company and it’s not particularly specific to Canyon.

Sound like the kind of stock you’d like to invest in? I’ll raise my hand and say I’m intrigued, the over-the-top teasing about secrecy seems silly but at first glance it looks like a real company with good growth and a good valuation, so I’ll be looking into it more closely. Let us know what you think with a comment below.

Thankfully, this is a somewhat larger company than usual for the Phase 1 folks, so we shouldn’t be making the stock price go crazy just because we’re writing about it here — though, of course, do be careful out there, the stock is down so far today and the Phase 1 folks and yours truly will probably have some influence on the shares (with the hype from them that builds interest, and the actual name and ticker symbol from us), and the bump from a newsletter recommendation, even a heavily promoted one, tends to erode over time … all else being equal (which it never is).

They release earnings on Tuesday and Curzio’s conference call is slated for May 19, so plenty could happen in the next few weeks. I won’t buy shares before earnings, since I’ve set my three day window as a trading rule, but I’ll be keeping an eye on them to see what happens next week.

Finally, if you’ve enjoyed (or not) a subscription to the pricey Phase 1 newsletter, we’d all like to know what you think — share your brief review over at Stock Gumshoe Reviews by clicking here. Thanks!


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41 Comments on "What’s the “World’s Most Secretive Company” that’s “Dry Drilling” in Canada?"

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booya
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booya
May 4, 2011 1:30 pm

ditto what dini said thx Trav was up till 1AM reading that ultralong teaser and diliberating

Walter Schwager
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Walter Schwager
May 4, 2011 1:03 pm

I already own FRC – quite highly rated by analysts – price target somewhere in the $19-20
range.

John Bunnell
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John Bunnell
May 4, 2011 1:30 pm

Great article and very timely. Thanks a million — well, $3000 anyway!
John B

Daily Unwealthy
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Daily Unwealthy
May 4, 2011 1:55 pm

I am in Calgary and confirm the above. Outrageous statements that this company is secretive. Its a public company with a wide range of analysts covering it and publishing research.

tooppy
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tooppy
May 4, 2011 2:26 pm
Something like a year or so ago, there was a tease over a small drilling company which was supposed to extract the astronomical quantity of oil just underneath Paris ! You konw those guys were so good, using the new secret tech of drilling horizontally ! What a good joke ! Horizontal drilling is practiced since forty years ago and was elaborated by Elf… the French oil company which, you can bet, knows exactly what is underground Paris ! Horizontal drilling was particularly used on borders to get the oil from the neighbourg, never been admitted but that was the… Read more »
Daily Joke
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Daily Joke
May 4, 2011 2:31 pm
Ok, too funny. So, I walked over to the address today. Not secretive, no hidden cameras, not even a rent-a-cop in sight. Elevators are public access – ie. no one checking people entering the building…. I rode the elevator to the 29th Floor. The doors opened and lo and behold a massive sign was in from of me "Canyon Services Group". There was an unlocked door which I passed through said hello to the Receptionist and made-off with 5 business cards that were available in reception!! I safely made it back to my office and am happy to report the… Read more »
Marc P
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Marc P
May 4, 2011 4:08 pm
Has anyone had a look at GASFRAC ENERGY SERVICES INC (GFS: Toronto Venture)? I have owned GFS since just before Xmas last year and it's had a successful run…from $9 to $14, sitting now just above $11. Not quite as good as FRC, but another player to look at. BTW, there was an article in the local paper this morning (The Globe and Mail – Canada's national rag!) about a woman suing a company for polluting her water supply by fracking wells in Alberta. I would have thought the news would have effected these companies, but not so much today.… Read more »
hedy1234
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hedy1234
May 4, 2011 5:00 pm

Travis another great post. Thanks

Do we have record of how all these Phase 1 picks have done. As I recall some of them did quite well.

Shooter
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Shooter
May 4, 2011 8:10 pm

Hess has joined with Toreador as a partner for the Paris exploration.

platypus
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platypus
May 4, 2011 9:35 pm

Nice work Travis – also a courageous effort by Daily Joke to risk life and limb in securing the business cards..
Cheers

T Bone Pickens
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T Bone Pickens
May 5, 2011 6:10 am
As usual, good job Travis. Now here's one for you to sleuth out. There's a small company in Iowa called Hydrogen Engine Center, Inc. (HYEG). They claim that they have a patented process to turn water into ammonia, and then they can burn that ammonia in engines that they manufacture and sell. They also sell engines that can run on hydrogen, methane, etc. Now here's what intrigues me. Converting vehicles to run on natural gas could be years and years away because of a lack of infrastructure. However, ammonia is quite plentiful because farmers all over the United States use… Read more »
T Bone Pickens
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T Bone Pickens
May 5, 2011 6:10 am

Oh, one more thing. Here's a little sleuthing that I did do on my own. I noticed that Hydrogen Engine Center and Greenman Technologies, Inc. (GMTI) — a manufacturer of a dual-fuel system that uses natural gas to replace diesel fuel — share an address. When I inquired about this, I was told that there was no connection between the two companies, but that Greenman had purchased a building from Hydrogen Engine Center. Coincidence? Or are they hiding something?

Dale
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Dale
May 5, 2011 6:58 pm
Travis: Having purchased Canyon services after reading your letter. Now I'm pretty nervous about it. A couple of hours or so after reading the Phase I (Curzio) version, I ran into the same letter–authored by SEAn Goldsmith ; he says the Cia agent is his friend, and he published the letter with a Currency Capitalist title and as A member of Agora. Someone is doing a big time con here, but I can't tell who it is yet. Because I had trouble getting Phase one to accept my credit card which is fine!, I called S and A where I… Read more »
james moylan
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May 6, 2011 7:44 pm

I have a web site where I give investment advise on penny stocks and stocks under five dollars. I have many years of experence with these type of stocks. If their is anyone thats interested in these type of stocks you can check out my web site by just clicking my name. I would like to comment about cannon services. Whenever I here the word secret passed around when it comes to stocks this makes me very very nervous. When I buy a stock I always look for transparency never secrecy.

Mike
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Mike
May 7, 2011 11:53 am

Does anyone know if this technology 'dry-frack' could be used for the Marcellus shale? I live in NY in a sweet spot for Marcellus but NYS tree huggers have drilling locked down like no ones business. They mentions Marcellus in the teaser. Problem people are concerned about is the fracking water getting into the drinking water. Boy I would love it if we could side step em and come up with a fracking method that tears down there barriers ! Like NY couldn't use a few thousand new jobs and all that revenue from natural gas. Unbelievable……

Mike

pwilhelm123
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pwilhelm123
May 7, 2011 11:55 am

The3m proppants are described in the Fulton,et al patent 7875574 assigned to Canyon..This patent issued Jan 25, 2011.

Mike
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Mike
May 7, 2011 1:20 pm

Does anyone know if this technology 'dry-frack' could be used for the Marcellus shale? I live in NY in a sweet spot for Marcellus but NYS tree huggers have drilling locked down like no ones business. They mentions Marcellus in the teaser. Problem people are concerned about is the fracking water getting into the drinking water. Boy I would love it if we could side step em and come up with a fracking method that tears down there barriers ! Like NY couldn't use a few thousand new jobs and all that revenue from natural gas. Unbelievable……

Mike
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Mike
May 9, 2011 2:27 pm

Thank-you for the input – I will look at GFS and my personal opinion is that Gasland is a extreme and that the real truth is somewhere in the middle.

Gravity Switch
Admin
11
May 11, 2011 3:52 pm

OK, so which other company has an office on the 29th floor of that building, is developing a new fracking technology with 3M, and has a licensing deal with ExxonMobil? If you find another one, I'm all ears.

NobHillSF
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NobHillSF
May 13, 2011 7:44 pm
I own Gasfrac as well on a recommendation by Keith Schaefer at Oil and Gas Investments Bulletin. Up to now, Keith has not put teasers out and owns the stocks he recommends in a big way(I think he owns or used to own Toreador but sold when the French govt. put a moratorium on hydrofracking pending study-this is right underneath Paris). Anyways I'm not an expert but there is this comparison of Gasfrac with it's own patented Liquid Propane Gel(LPG) process-initially licensed from Chevron and conventional Nitrogen fracking- not a specific reference to Canyon… Schlumberger has observed the results already:… Read more »
Sun
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Sun
May 16, 2011 11:49 am
May 11 (Reuters) – France's lower house of parliament approved a bill on Wednesday that would ban shale gas drilling due to environmental concerns, as a freeze on the controversial practice remains in effect. The bill will be considered by France's Senate in June. The technique of hydraulic fracturing, or fracking, involves injecting water, sand and chemicals into shale rock formations at high pressure to force out oil and natural gas. Opposition has centred over potential pollution from the large amounts of water and some detergent used in the process. The bill, introduced by President Nicolas Sarkozy's UMP party, forbids… Read more »
John R
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John R
May 18, 2011 10:34 pm
My sister doesn't have any degrees, but my wife is PhD in nutritian especially kidney deasise. I mention this to burnish my creditials as I have none! But I do live on top of the Barnett shale with doxzens of gas well within a 2 miles of my house. I heard of a family with gas in their water in Parker county west of Ft. Worth. EPA jumped in to stop fracing but TX did research and found the gas in water was geneticaly different from gas from gas wells. I have often wondered how fracing water and chemical get… Read more »
Lydia
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Lydia
May 24, 2011 4:47 pm

So Stanberry was at it again…..I already regret my 49 dollars ( a come-on to subscribe to more of their stuff ) !

Bob
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Bob
February 15, 2012 2:26 pm

Hi Dee:

I would be very interested in reviewing your father’s patent. I work with a team of engineers from CAL Tech and MIT that has been working on using waste heat in truck engines to drive power units like air conditioning, etc. Please feel free to contact me.

Bob

Dee
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Dee
May 25, 2011 2:13 pm
My father had his 1st patent in the1980's which basically used engine heat to vaporize gasoline to run your vehicle on. He had a 1972 motor home that he was getting 59 mpg in highway driving only. It seemed a good idea to me but he was pushed down some of the big companies and then was bankrupted. The last version was patented around 1990 and a big company was looking at it but backed out when my dad died unexpectedly a few years later. There were problems with the system, fire mostly. I don’t understand all of it technical’s… Read more »
Gravity Switch
Admin
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May 4, 2011 1:09 pm

Thanks Walter — according to the summary at Yahoo Finance, average analyst target is about $18 and the average recco is somewhere between "buy" and "strong buy" — there has been a little bit of upgrading activity by analysts in recent months, which is often promising but is also not surprising for a stock that has moved up sharply enough that analysts have had to "catch up."

Gravity Switch
Admin
11
May 4, 2011 2:33 pm

I had forgotten all about them — that was Toreador Resources (TRGL), teased in the Fall of 2009. Haven't checked on them at all lately, they had a big run up over the Winter and then completely collapsed to about $6, near where they were when they were teased so heavily about a year and a half ago. I wonder if they're having trouble with permission for shale drilling, or if it's actual results that are worse than expected, or something else? They release earnings next week too, coincidentally enough.

Gravity Switch
Admin
11
May 4, 2011 2:35 pm

Ah, my heart's pounding just hearing your tale! Thanks for your intrepid investigative work 🙂

Gary W
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Gary W
May 19, 2011 2:19 pm

How do you know there were no HIDDEN cameras? 😉

Londonian
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Londonian
May 4, 2011 7:02 pm
PARIS, FRANCE – (April 21, 2011) – Toreador Resources Corporation (NASDAQ: TRGL) (Paris: TOR) today commented on the interim report on the economic, social and environmental impact of unconventional hydrocarbon exploration and development in France — a study undertaken by the General Council of Industry, Energy and Technology (CGIET) and the General Council on the Environment and Sustainable Development (CGEED) per the instruction of the Ministry of Environment and the Ministry of Energy. The report is available at: http://www.developpementdurable.gouv.fr/IMG/pdf/R… Craig McKenzie, President and CEO of Toreador, said, “Toreador welcomes the interim report produced by the CGIET and the CGEDD regarding… Read more »
wikiderm
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wikiderm
May 4, 2011 9:19 pm

She shouldn't take her lighter into the tub, then.
Far too juvenile an activity for a grown woman!

rod
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rod
May 10, 2011 12:44 pm

she has been on the news and yes i saw her litterally put water into plastic pop bottles , screw the caps on and let sit for 5 mins ,take the caps off, hold a bic lighter above and yes a poof of flame did come shootin out. ya, that would bother me if that was my water.

Richard C.W.
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Richard C.W.
May 6, 2011 5:42 am

I never thought of this! And I'm a Chemistry Major! Ammonia does have the formula NH4! Hmmm! But the bonds are "ionic!" Hard to break! Let me check some stuff!

pwilhelm123
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pwilhelm123
May 6, 2011 9:59 pm

Ammonia is NH3. The ammonium ion is NH4. Mixtures of ammonia and air will explode under very special conditions (Angew.Chem. 43.302 (1930)) but generally is thought to be nonflammable. It is corrosive and of course is irritating to the eyes. Oh yes, the bonds in ammonia are covalent,

Jerisho Solberg
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Jerisho Solberg
May 7, 2011 12:49 am
Calgarian also. I work very close to this location. Canyon Services is likely the company. The only secretive thing I could see is their 3M proppant for fracking. But there are other methods of fracking that don't involve high technology, but an assembly line model of drilling ad fracking. Imagine 16 wells on one pad. The drilling rig spends a month on one horizontal well, then moves over a few feet to the next as the frac guys do their thing. This is where some of the key innovation lies – in the cost structures and logistics end of the… Read more »
joe
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joe
May 8, 2011 10:20 pm

maybe you should check out Gas Frac (GFS) on the TSX, this requires no water an is a 100% recoverable, new technology in fracting

sazure
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sazure
May 9, 2011 1:18 am
My sister in a nuclear engineer (two degrees actually) the nat gas fracking does contaminate the ground, water and NEVER biodegrades. I am not a tree hugger but one must have energy without polluting water (essential) and the air. See the movie Gasland – this has occurred in other countries (water and soil damaged forever) and in much of America (I knew that many of American river species, fish et al – have gone extinct due to river contamination) – it is just not in the "news" due to these companies power in keeping it hidden. Bush period allowed these… Read more »
TNT
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TNT
May 9, 2011 1:27 pm

I've been in the oil and gas industry in Oklahoma since 1978 and I have never heard of any river species going extinct. The idea that the oil and gas industry has been able to bypass all environmental and regulatory laws is a crock. One of the greatest expense we have now and in the past in the industry is conforming to regulatory and environmental laws.

BillB
Guest
0
BillB
May 19, 2011 2:01 pm

I'm a nuclear engineer too (three degrees actually), how does that qualify me to comment on fracking nat gas wells? My engineering "opinion" is that this is nonsense.

Gravity Switch
Admin
11
May 11, 2011 3:46 pm

Sean Goldsmith works for Stansberry, too, and Agora owns part of S&A. Most of the Agora-related newsletters cross-market for each other even as they compete, but it is quite a baffling web of relationships.

NobHillSF
Guest
0
NobHillSF
May 13, 2011 8:07 pm

Cheney got an exception where hydrofracking is exempt from the usual regulatory mechanisms such as Clean Water Act. Haliburton developed hydrofracking.
I agree that many wells were drilled without problems, but the effluent has become a problem. Many jurisdictions have banned it already such as Quebec. Anyways, article coming out in Discover about it which also mentions Gasfrac: http://discover.coverleaf.com/discovermagazine/20

wpDiscuz