WEDNESDAY EDITION

August 23rd, 2017

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editorials

 
Sharp Decline in Crude Oil and Its Consequences
Przemyslaw Radomski  Aug 16  

Jericho Oil raises C$5.7M from cornerstone investors
  Aug 13  

Will Crude Oil Extend Gains?
Przemyslaw Radomski  Jul 29  

Molori Energy Ready to Explode Higher
Bob Moriarty  Jul 20  

Oil Market Update
Clive Maund  Jul 14  

»» more editorials in the archives

market data


Ux U3O8 Price (Uranium)Aug 7th, 2017
$20.50 +$0.35 www.uxc.com



»View Commitment of Traders.

expert analysis & newsletter briefs

NexGen Energy Ltd.

"My top pick for 2016 is NexGen Energy Ltd. . . Arrow is an emerging world-class deposit that is still in the early stages of discovery. The state—it being so early in the delineation and development process—means a lot of upside still remains. . .the company just closed a $21M financing, which means the company has enough cash to carry through 2016 and beyond." (12/23/15) - Gwen Preston, Resource Maven

NexGen Energy Ltd.

"My top pick for 2016 is NexGen Energy Ltd. . . Arrow is an emerging world-class deposit that is still in the early stages of discovery. The state—it being so early in the delineation and development process—means a lot of upside still remains. . .the company just closed a $21M financing, which means the company has enough cash to carry through 2016 and beyond." (12/23/15) - Gwen Preston, Resource Maven

Fission Uranium Corp.

"Fission Uranium Corp. announced it entered into a binding letter of intent with China's CGN Mining, a subsidiary of nuclear giant China General Nuclear Power Group, to acquire 19.99% of Fission as part of an CA$82M strategic investment, along with a potential future offtake agreement on production from Patterson Lake South (PLS). . .we urge investors to bolster positions in Fission as the deal derisks development financing, and in the interim, should fund PLS through full feasibility and permitting." (12/22/15) - David Sadowski,

Energy Fuels Inc.

"Energy Fuels Inc. is the only conventional uranium producer in the U.S. and the second-largest producer overall. It has the potential become #1, given the projects and mines it has on standby or that are close to being in development. At full ramp-up we expect the company to be able to produce 5–7 Mlb/year, in a country currently producing 4–5 Mlb/year. The U.S. consumes 55 Mlb/year, but only about 10% is supplied domestically. U.S. utilities seeking security of supply will greatly prefer U.S. producers over those from Kazakhstan, Russia or Africa. This company is well positioned to benefit from higher uranium prices. We have a Buy rating with a target price of $11.85/share." (12/22/15) - The Energy Report Interview with Rob Chang

Fission Uranium Corp.

"Fission Uranium Corp. announced it entered into a binding letter of intent with China's CGN Mining, a subsidiary of nuclear giant China General Nuclear Power Group, to acquire 19.99% of Fission as part of an CA$82M strategic investment, along with a potential future offtake agreement on production from Patterson Lake South (PLS). . .we urge investors to bolster positions in Fission as the deal derisks development financing, and in the interim, should fund PLS through full feasibility and permitting." (12/22/15) - David Sadowski,


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Bitgold (XAU-V)
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from the publisher
  Robert J. Moriarty

Welcome to 321energy.



The Energy Report

Phil Flynn
http://www.pricegroup.com/
pflynn&pricegroup.com


The Energy Report 08/22/17

Heads in the Clouds

Oil prices sold off ahead of expiration as traders had their eyes on the skies and not their trading screens. Oil was eclipsed in a day where stock market volumes dried up and it seemed that traders ran for cover ahead of expiration. OPEC punted at their technical meeting and put off a decision to extend until their November meeting. Today is the September expiration and we are bouncing off support as we look to the heart of the shoulder season when gasoline demand dips and refineries go into maintenance. Yet a drop in US oil rig counts and reports that BHP Billiton is getting out of the US shale business is raising questions about the level of US oil production going forward. The oil market most likely will have to prepare for another big drop in US crude supply that will come after the September contract is history.

The market should be expecting a big drop in crude oil supply. Genscape, the private forecasting firm, reported that crude supply in the Cushing, Oklahoma delivery point had fallen by over 1.0 million barrels last week. Cushing, Oklahoma was the one bright spot for oil bears as it had seen some increases even as the US Gulf coast inventories fell at a record pace.

Refiner demand for oil is still at a record high and a lot of oil that is in storage is too light for many refiners to run. That suggests that supply of ready to use oil is tighter and it is one reason the bull oil spread should continue to work.

We are feeling the weight of OPEC production cuts especially the heavy oil from Saudi Arabia and Venezuela. U.S. commercial crude inventories have fallen by almost 13 percent from their March peaks, to 466.5 million barrels according to EIA data.

Shale dump. BHP Billiton Ltd, after pressure from activist investors, are selling its onshore U.S. oil-and-gas operations as they have been losing big money in the US shale play. The company spent big on shale but it has not yielded a return as the conglomerate was just too big and clunky to squeeze profits out of an increasing difficult and complicated shale oil play. The company claimed that the US was not its core play and after earnings that came in shy of expectations, were forced to admit that the shale play is better left to someone else. They were under pressure from New York hedge fund Elliott Management Corp. who slammed the company for wasting billions of dollars in the US shale patch. The company got caught up in the shale hype and overspent for assets and is now pulling back from the shale space.

This should be a warning for other shale producers. Years ago we talked about the upside of the US shale market long before most people understood how dynamic it could be. Yet the rush to jump in at any price was a mistake because one must consider shale limitations. With deep decline rates and the need to keep on drilling, it is imperative that you keep your well head economics in a realistic place. Shale will be explosive again in the next decade and BHP might miss out when it comes back.

In the meantime we are starting to see more signs that US oil output from shale may be peaking. Not only do we see the rig count topping out, the production of oil per well continues to fall. The best shale play areas have been picked over and shale players may have to drill more to keep production levels rising. We have been warning about this for months and now others are starting to see the evidence that this is happening.

Make sure you get the power to prosper! Tune to the Fox Business Network! Call to get my special gold report at 888-264-5665 or email me at pflynn@pricegroup.com. I will be at the Dallas Money Show in October. Call me to get a space at the show.

There is a substantial risk of loss in trading futures and options.

Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Phil is one of the world's leading energy market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets. Phil's market commentary, fundamental and technical analysis, and long-term forecasts are sought by industry executives, investors and media worldwide.

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Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Alaron Trading Corp. its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Contact Phil at 800-935-6487 or pflynn&pricegroup.com.



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August 23rd, 2017

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