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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (91246)	9/28/2007 11:44:27 AM
From: ChanceIs	Read Replies (1) \| Respond to of 206330

>>>Sold the second quarter of my ENT position at an average of around $2.55 this morning.<<<< Please accept a compliment from a grizzeled veteran on your trade, and consider some advice. When there is a bad news sell-off such as ENT just experienced, there is always a bounce, and then some flopping in the bottom of the boat for a while. I got caught and rode it down. (I wish they had called me and let me know about the dividend cut before they did it.) If you bought at the bottom and then sold recently, then my hat is off to you. I thionk that there will be a second buying opportunity. The advice.... Options now trade against ENT with $2.50 strikes. I am considering trading calls against my long shares - because I think it will pull back. Unlike you, I missed buying at the bottom, but by shorting some puts, I can get close. Basically I am about to short a $2.50 straddle against ENT. It really won't be a straddle because I am long the stock. I will get some time premium from both sides if I do it. Basically I think that you are looking here at: 1) the classic post sell-off dead cat bounce, 2) a stronger bounce because of the rising Loonie, 3) same because of rising crude, 4) same because everyone from China to Madagascar is buying the sandbox - except the US. We are buying a different kind of sandbox in the Middle East, but we are doing it on margin, and I think that we will get a big fat call soon. 5) same because we are on margin in our sandbox play, and the call will tank the buck even further.

To: KyrosL who wrote (91246)	9/28/2007 11:50:56 AM
From: Fiscally Conservative	Read Replies (1) \| Respond to of 206330

KyrosL Fantastic trade! Takes guts to buy when everyone is running for the exits. Your risk/reward played out exactly the way you had hope. Seldom see trades like that. Nice to see one catch a falling knife. Congrats to you!

To: KyrosL who wrote (91246)	9/29/2007 6:58:20 AM
From: elmatador	Respond to of 206330

Firms Seek Access to Myanmar Oil Fields. example of how important Myanmar's oil and gas resources have become in an energy-hungry world. By THE ASSOCIATED PRESS Published: September 29, 2007 Filed at 5:19 a.m. ET BANGKOK, Thailand (AP) -- Just last Sunday -- when marches led by Buddhist monks drew thousands in Myanmar's biggest cities -- Indian Oil Minister Murli Deora was in the country's capital for the signing of oil and gas exploration contracts between state-controlled ONGC Videsh Ltd. and Myanmar's military rulers. The signing ceremony was an example of how important Myanmar's oil and gas resources have become in an energy-hungry world. Even as Myanmar's military junta intensifies its crackdown on pro-democracy protests, oil companies are jostling for access to the country's largely untapped natural gas and oil fields that activists say are funding a repressive regime. China -- Myanmar's staunchest diplomatic protector and largest trading partner -- is particularly keen on investing in the country because of its strategic location for pipelines to feed the Chinese economy's growing thirst for oil and gas. Companies from South Korea, Thailand and elsewhere also are looking to exploit the energy resources of the desperately poor Southeast Asian country. France's Total SA and Malaysia's Petroliam Nasional Bhd., or Petronas, currently pump gas from fields off Myanmar's coast through a pipeline to Thailand, which takes 90 percent of Myanmar's gas output, according to Thailand's PTT Exploration & Production PLC. But investing in Myanmar has brought accusations that petroleum corporations offer economic support to the country's repressive junta, and in some cases are complicit in human rights abuses. This week's bloody clampdowns on protests have escalated the activists' calls for energy companies to pull out of the country. ''They are funding the dictatorship,'' said Marco Simons, U.S. legal director at EarthRights International, an environmental and human rights group with offices in Thailand and Washington. ''The oil and gas companies have been one of the major industries keeping the regime in power.'' Demonstrations that started a month ago over a spike in fuel prices have become a broader protest against the military rulers. Ten people were killed in two days of violence this week. Soldiers fired automatic weapons into a crowd of demonstrators in Yangon on Thursday and occupied Buddhist monasteries and cut public Internet access Friday. The moves raised concerns the crackdown on civilians was set to intensify. Myanmar's proven gas reserves were 19 trillion cubic feet at the end of 2006, according to BP PLC's World Review of Statistics. While that's only about 0.3 percent of the world's total reserves, at current production rates and Thailand's contract price for gas, the deposits are worth almost $2 billion a year in sales over the next 40 years. ''It points to the potential that Myanmar has,'' said Kang Wu, a fellow at the University of Hawaii's East-West Center in Honolulu. Altogether, nine foreign oil companies are involved in 16 onshore blocks exploring for oil, enhancing recovery from older fields, or trying to reactivate fields where production has been suspended, according to Total's Web site. A block is an area onshore or offshore in which an oil company is granted exploratory and discovery rights. Offshore, nine companies, including Total, Petronas, PTTEP, South Korea's Daewoo International Corp., Chinese state-run companies China National Offshore Oil Corp., or CNOOC, and China Petroleum & Chemical Corp., or Sinopec, are exploring or developing 29 blocks, Total said. Despite economic sanctions against Myanmar by the United States and the European Union, Total continues to operate the Yadana gas field, and Chevron Corp. has a 28 percent stake through its takeover of Unocal. Existing investments were exempt from the investment ban. Both Total and Chevron broadly defended their business in the nation. ''Far from solving Myanmar's problems, a forced withdrawal would only lead to our replacement by other operators probably less committed to the ethical principles guiding all our initiatives,'' Jean-Francois Lassalle, vice president of public affairs for Total Exploration & Production, said this week in a statement. French President Nicholas Sarkozy urged Total this week to refrain from new investment in Myanmar; the French concern said it had not made any capital expenditure there since 1998. Chevron's interest in the Yadana project is ''a long-term commitment that helps meet the critical energy needs of millions in people in the region,'' said Nicole Hodgson, corporate media adviser for Asia. Total and former partner Unocal Corp. were accused of cooperating with the military in human rights violations while a pipeline was being built across Myanmar to Thailand in the 1990s. Both companies have denied the accusations but Unocal settled a related lawsuit in the U.S. in 2005, prior to being acquired by Chevron.

To: KyrosL who wrote (91246)	10/4/2007 10:05:23 AM
From: KyrosL	Read Replies (2) \| Respond to of 206330

Started buying back ENT this morning. Got some at an average in the low $2.40s. My current view on ENT: messages.finance.yahoo.com Everything you say is true. But, there are still millions of shares held by shell shocked income investors that bought them at much higher prices. Some (most?) will keep selling as long as the dividend resumption day remains uncertain. Second, there are millions more bought by traders below $2. They don't care about fundamentals, so any technical weakness triggers selling pressure from them. I think this is great for value investors that have studied ENT and feel confident in its fundamentals. It is extremely difficult to find oil and gas assets at 50% off in today's environment of a rapidly depreciating dollar and rapidly appreciating commodities. After the borrowing base review announcement, most of my doubts about ENT have disappeared. Given that the credit markets in Canada have been greatly affected by the subprime mess (the freeze in their commercial paper market is even worse than the US), one can even allow that the ENT squeeze was not even management's fault. So, I will be trying to buy more ENT here in the $2.50's or hopefully below in the next few days.