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To: ms.smartest.person who wrote (2757)	8/16/2007 7:30:37 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition August 15, 2007 PETROLIFERA PET. (T-PDP) $15.40 -0.60 A chart of Petrolifera looks like that of many other oil and gas, mining resources stocks lately as the mortgage mess in the United States spills out to be a worldwide problem. News yesterday out of Petrolifera though appears good, there's a test on their A-1061 well is producing at roughly 1300 barrels a day moving Petrolifera’s production in Argentina up to 8200 barrels a day. Meanwhile, two additional wells, 1033 and 1042 have been drilled and logged and testing and it looks like both are indicated multi-zone hydrocarbon discoveries. All this is nice and Petrolifera still has pretty aggressive plans for what they hope to have on production by year end, but to us there is two points of note. First of all, the company had trouble arranging for rigs in the first half of year which has delayed plans and now it looks like they are evaluating the possibilities of having a sixth rig exploring for them. And while Argentina maybe it’s current story, Peru remains the future and it could be a huge future, and the company has received its environment impact assessment certificate for Ucayali Block and as a result, the company is now in a position to commence a major seismic program. (S&P/TSX VENTURE) INDEX $2660.84 -123.84 This sub-prime mortgage mess which is born in the United States has affected markets around the world. While the Dow is only down a thousand points which isn’t too bad, many brokerages, banks and financial institutions have been hurt hugely with lots of bankruptcy's in the industry. So how big can it get and how hurtful? And what is this sub-prime mess about anyway? Peter Gumbel, from Fortune Magazine has taken a look at it and offers a 10 point guide to understanding the two heroing weeks and what's likely to happen next. An interesting look at the problem and if anyone needs a copy, please email Jennifer_Lagdamen@Canaccord.com. As far as the question is it really over, the response seems to be that things remain very very fragile. The big question is, what does all this mean for the worlds economy, he writes so far not all that much, but keep your fingers crossed. A relatively easy to understand and read article... SELKIRK METALS (V-SLK) $0.97 -0.10 ITHACA ENERGY (V-IAE) $2.65 -0.08 TS03 INC. (T-TOS) $2.12 -0.07 CROSSHAIR EXP. (V-CXX) $1.46 -0.08 The correction we’ve seen in the markets is now getting to the point where it’s quite painful and while many of us are in a cash position looking to buy, there's still not a lot of charts that have any signs yet at all, that they hit a support level or are starting to turn up. So how much uglier can it get? It doesn’t even matter that oil prices are still strong and in fact the last few days have been up, oil and gas stocks have been hauled down with the general market. Selkirk Metals is fully funded on the Ruddock Creek exploration project unlike many junior mines that have a big problem there but it also has a bid. For those looking to raise money it gets sold just like everything else. TSO3 is in the medical instrument sector and is the top pick by Canaccords Sara Elford, one of Canada’s top ranked analyst but so what it, doesn’t matter whether you’re a blue chip bank or a ruff and tumble oil and gas or mining play you’ve been swacked. It’s time to be watching charts to see when those bottoms are put in and charts start going the other way.