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Michael Fitzsimmons  

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  • California Drought A Huge Opportunity For Small-Cap Energy Recovery Inc. [View article]
    James - is the $1 billion dollar O&G market opportunity big enough for you?

    Wrt ERII's market share, I don't know of one recent SWRO plant that has been announced that doesn't use ERII's PX products. Can you share with me some plants that do not use these devices? From my vantage point, PX devices seem to be defacto components designed into all new SWRO plants.
    Feb 21, 2014. 12:02 PM | 1 Like Like |Link to Comment
  • Callon Petroleum: Permian Basin Pure Play's Stock Is A Bargain [View article]
    True, but as I said in the article this is not a near-term earnings or production related call, it's a value call based on the potential of the relatively low-risk undeveloped reserves asset base of 140 million boe. Would you agree with me that $400 million is not an extreme EV when compared to the potential of 140 million boe in undeveloped Permian Basin reserves?
    Feb 21, 2014. 11:56 AM | 2 Likes Like |Link to Comment
  • Inter Pipeline Ltd.: Long-Term Oil Sands Transport Contracts Will Drive EBITDA And Dividend Growth [View article]
    Rockefeller: Thanks and I agree on all points.
    Feb 21, 2014. 11:50 AM | 1 Like Like |Link to Comment
  • Inter Pipeline Ltd.: Long-Term Oil Sands Transport Contracts Will Drive EBITDA And Dividend Growth [View article]
    Hi and sorry - I am not familiar with PGH.
    Feb 21, 2014. 11:49 AM | 1 Like Like |Link to Comment
  • Petroleum & Resources: A 7.2% Yield, A 14.7% Discount To NAV, And A Big Slug Of Exxon [View article]
    Thanks - did you see IPL's earnings report yesterday? I just wrote another article on the company which I hope will be published today.
    Feb 21, 2014. 09:17 AM | Likes Like |Link to Comment
  • Total makes North Sea oil find, but Statoil comes up dry [View news story]
    Nice find for TOT. No problem for STO - even the best explorer can hit a dry hole occasionally.
    Feb 21, 2014. 09:11 AM | Likes Like |Link to Comment
  • Nat Gas Breaks $6; Will Storage Levels Be Rebuilt This Summer? [View article]
    Well, COP is pumping the EF for oil and NGLs, associated dry gas is nice, but not what they are after. Again, I don't see COP throwing money at dry gas production when they can earn more investing in either the EF or Bakken.
    Feb 21, 2014. 09:07 AM | 1 Like Like |Link to Comment
  • Nat Gas Breaks $6; Will Storage Levels Be Rebuilt This Summer? [View article]
    Well, obviously the CHUNK at $4.11 is much smaller than at $6.11.

    I don't have a problem with hedging production, but to hedge it *all* at $4.11 shows questionable judgement imho.
    Feb 21, 2014. 09:05 AM | Likes Like |Link to Comment
  • Petroleum & Resources: A 7.2% Yield, A 14.7% Discount To NAV, And A Big Slug Of Exxon [View article]
    Hi galicianova: well, I don't follow NDP. I own PEO for income and one CEF is enough for me. As you can probably tell, I don't care much for discounts to NAV. I bought PEO when I was young and inexperienced. While it has been a good source of income, the discount to NAV when I bought it (7.5%) was supposedly a good deal. Yet is has expanded. As a result, my investment has not kept up with the underlying stocks the fund owns. Now I much prefer individual high quality dividend paying companies.
    Feb 21, 2014. 09:03 AM | Likes Like |Link to Comment
  • California Drought A Huge Opportunity For Small-Cap Energy Recovery Inc. [View article]
    That certainly is a valid concern. However, I would point out a couple things here. The PX devices have been around for a few years now and many have been installed in China, including at China's largest SWRO plant. Yet ERII has not only kept its market share, it has increased it over the past couple year. While I can give you no guarantees wrt China made counterfeit devices, consider the importance of reliability and efficiency. As you know, downtown in these plants (due to a fault ERD for instance) is a very expensive proposition. Efficiency is also very important. As you know, small changes in device efficiency, when replicated over many devices in a plant, and noting many plants run 24/7, can have a big impact on energy costs. So the question isn't just if a Chinese company can make an ERD along the same lines as the PX series, but can they do so while achieving the same reliability and efficiency?

    From a 10-K filed in 2013:

    "We have nine U.S. patents and eighteen patents outside of the U.S. that are counterparts to U.S. patents. The U.S. patents expire between 2017 and 2028, and the corresponding international patents expire at various dates through 2028. Additionally, there are six pending U.S. patent applications and thirty-eight pending foreign applications corresponding to the U.S. patents and patent applications."
    Feb 21, 2014. 09:00 AM | 1 Like Like |Link to Comment
  • How I Retired At 45 [View instapost]
    Thank you for the kind words oleboy1967. I seem to have more in common with blue collar types than many of the educated scholarly set, although I do know many engineers who are very independent and "hands on". I also dropped my lifestyle way down, but it's a trade-off I made when I quit working - less cash flow but in charge of my own time. Well worth it. I did have a local teacher here in town that I met at her garage sale and she asked me what my profession was. We started talking and she said she taught math and her students constantly asked her why they needed to know math. And when I told her about the students in Asia being so far ahead of the average American in math etc. etc. she took my number and wanted me to speak to her class, but she never called. Along those lines, I sure wish they would teach a basic finance course in high school and college. Anyhow, glad you made it!
    Feb 20, 2014. 10:43 PM | Likes Like |Link to Comment
  • Nat Gas Breaks $6; Will Storage Levels Be Rebuilt This Summer? [View article]
    No way? *ALL* their 2014 production at $4.11? Wow, that is very surprising. I guess that was an acceptable return for them, but boy that's a lot of money left on the table.
    Feb 20, 2014. 10:26 PM | 1 Like Like |Link to Comment
  • California Drought A Huge Opportunity For Small-Cap Energy Recovery Inc. [View article]
    GreenGrowth - I understand your conundrum with respect to the earnings date. You might considered scaling in small to begin with before the 5th, and depending on the earnings, going in heavy if you like what you see.
    Feb 20, 2014. 10:24 PM | Likes Like |Link to Comment
  • Petroleum & Resources: A 7.2% Yield, A 14.7% Discount To NAV, And A Big Slug Of Exxon [View article]
    I think we'll see margin expansion at XOM, due in part to recent strength in domestic natural gas prices. For CVX, they've got some big production projects that should be coming online. Time will tell.
    Feb 20, 2014. 10:22 PM | Likes Like |Link to Comment
  • California Drought A Huge Opportunity For Small-Cap Energy Recovery Inc. [View article]
    And perhaps even better long-term potential...
    Feb 20, 2014. 08:09 PM | 1 Like Like |Link to Comment
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