40-F

BP Chamber Clogged, Removed From Leaking Gulf Well

Filed in 40-F, Bank Gold, Gold Spot Market by on May 8, 2010 0 Comments

BP Plc said gas hydrates like ice crystals formed inside the steel chamber it’s trying to use to capture leaking oil from a Gulf of Mexico well, forcing the company to move the structure aside while working on ways to stanch the flow of crude. The hydrates clogged the 40-foot-tall containment system, which was designed to funnel oil to an overhead drillship, Doug Suttles, BP’s chief operating officer for exploration and production, said today at a press conference in Robert, Louisiana. He said BP placed the chamber on the seafloor, about 200 meters (656 feet) away from the well’s biggest leak, and will evaluate ways to prevent hydrate slushes from forming. WRH permalink

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BP Chamber Clogged, Removed From Leaking Gulf Well

Filed in 40-F, Bank Gold by on May 8, 2010 0 Comments

BP Plc said gas hydrates like ice crystals formed inside the steel chamber it’s trying to use to capture leaking oil from a Gulf of Mexico well, forcing the company to move the structure aside while working on ways to stanch the flow of crude. The hydrates clogged the 40-foot-tall containment system, which was designed to funnel oil to an overhead drillship, Doug Suttles, BP’s chief operating officer for exploration and production, said today at a press conference in Robert, Louisiana. He said BP placed the chamber on the seafloor, about 200 meters (656 feet) away from the well’s biggest leak, and will evaluate ways to prevent hydrate slushes from forming. WRH permalink

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Oil Headed to $100-$110 Near-Term

Filed in 40-F, bank of america, economy, Gold, Gold Market, recession by on April 5, 2010 0 Comments

Gone are the days of cheap oil. Gone are the good ol’ days when it cost $10 to fill up my old Chevy Malibu… only to be replaced by an era of $3+ pump prices across a country ravaged by depress— er, recession . And we’re all left to wonder if the days of triple-digit oil, damning the petrol gods that be, and flipping off gas station attendants may be returning… Advertisement The Coming Nuclear Renaissance If there were a company making a nuclear fuel that: Instantly makes power plants operate 25% to 50% more efficiently, saving billions upon billions of dollars in operating costs, every year Prevents any Chernobyl-like meltdowns from ever happening again and Drastically slashes the radioactive life of spent uranium You’d want to know about it, right? The full report – including why the company behind it could triple in price – is available here . And They Just Might… Near-term, at Least Let me be clear: I’m not talking about $147 oil — not yet, anyway. That will come later, on peak oil theory and an expected rebound in the global economy. For the time being, we’re only talking about $100 to $110 oil— by late May/early June— that will send gas station prices well above $3. It certainly won’t be something to cheer about, but it would only be temporary this year, coinciding with peak summer demand. But Goldman Sachs believes that crude shortages will re-emerge as supply fails to keep up with demand recovery; that higher demand could drive oil to the $92 to $97 range within the next three to six months. Can $100 Reality Be Far Behind? Two big banks are joining that $100-prediction crowd, telling clients to brace for it. Barclays, for one, expects crude to “flirt with $100 this year,” anticipating an average price of about $140 by 2015. (I’m sure consumers will love filling up their tanks at prices like those.) Analysts at Bank of America see oil nailing $105 this year, and believe that $150 isn’t far behind— a possible reality by 2014— thanks in part to increased demand from China and India; China recently overtook the U.S. car market, and India has billions of people waiting to buy cars. And then we have the IEA and EIA projecting stronger demand for oil in the near term. Others anticipate that a global economic recovery and tightening refinery supplies will push up prices, too, ahead of U.S. summer driving season. Saudi Aramco, for one, already upped its selling prices for all crude grades for U.S. customers in April. And then we have a U.S. refinery industry that’s running at 80% capacity recently “in an attempt to drain global supplies and push the price of refined product higher,” according to a CNBC report. “As a result, we’re very vulnerable to outages, or like we’re seeing right now with the strike in France, that’s going to spark [this rally].” So long as there’s recovery speculation, any damp demand will recover— resulting in higher prices and higher demand. And let’s not overlook the potential for conflict around the globe that could flare up at any time, disrupting oil supply. What if Israel hit Iran? Iran might choke the Strait of Hormuz, for …

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IAMGOLD (TSX: IMG) Files Form 40-F

Filed in 40-F, Gold, Gold Bullion prices, Iamgold by on April 1, 2010 0 Comments

IAMGOLD Files Form 40-FIAMGOLD Corporation (“IAMGOLD” or “the Company”) (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) announced today that a Form 40-F report has been filed with the U.S. Securities and Exchange Commission, consisting of 2009 annual audited financial statements, management discussion and analysis and the annual information form. These filings are available through EDGAR at www.sec.gov.

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