Total SA (TOT)

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  • commenter
    phillips49
    May 23 12:02 PM
    America's Energy Policy: Coming to Terms with Reality [view article]
    It seems that we (Americans) are in a state of denial. Until we stop looking for the "great conspiracy" and admit there really is a fundamental problem, we won't start to solve the issues in front of us. We (Americans) aren't the only ones pay high prices. It's global!..global! There are those in the world who can afford it less than we can, but are having to pay the price. The blame/shame game will not solve the problem. That game is only smoke and mirrors and delays action that would fix the problem.
    When supply and demand for a basic neccessity are roughly in balance, it doesn't take much tweaking to control price. OPEC is a business, not a charity folks!. They don't have to turn up the taps, just because we whine. They don't owe us any more than what we pay for. I actually felt bad for the guys that had to put up with the humiliation in front of Congress. The Congress thing was just for show. It was a feel good thing. It changes nothing. We really ought to listen to what those execs said about what we have placed off limits in our own country. It going to take everything we've got to get out of this mess. Oil, natural gas, wind, hydro, solar, nuclear, fuel efficient fleet, hybrids. All of the above. We've got the know how and the resources. Now, if we can just get the will. But until we admit there is a problem, we can not solve it.     Reply
  • commenter
    Richard
    Schweitzer
    May 23 11:52 AM
    Under The Radar News - Thursday [view article]
    C'mon, if you're going to paraphrase Bill Gross, do so with more care. Here is what he wrote:

    "What are the investment ramifications? With global headline inflation now at 7% there is a need for new global investment solutions, a role that PIMCO is more than willing (and able) to provide. In this role we would suggest: 1) Treasury bonds are obviously not to be favored because of their negative (unreal) real yields. 2) U.S. TIPS, while affording headline CPI protection, risk the delusion of an artificially low inflation number as well. 3) On the other hand, commodity-based assets as well as foreign equities whose P/Es are better grounded with local CPI and nominal bond yield comparisons should be excellent candidates. 4) These assets should in turn be denominated in currencies that demonstrate authentic real growth and inflation rates, that while high, at least are credible. 5) Developing, BRIC-like economies are obvious choices for investment dollars."

    Note what he really said about TIPS.

    Redo that please.     Reply
  • commenter
    WayneS
    May 23 10:44 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Representative Maxine Waters, Democrat of California, let the cat out of the bag. Congress wants to emulate OPEC and nationalize US oil companies. As it is, our government is no more trustworthy than Chavez and dozens of other dictators. Now they want to steal my retirement money just as I retire. Reply
  • commenter
    mixter
    May 23 10:29 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    The more "evil" profits the oil companies make, the more incentive there is for them to produce more oil. Also, others will invest where there is money to be made. For all of you "Dim-wit-O-crats&... this is know as capitalism, or a free market economy!

    More oil being produced will ultimately result in oil prices going down.

    Duh!
    Reply
  • commenter
    Mmarrkk
    May 23 10:16 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Remember a few months back when the Congressional elections were going on. We kept hearing about how poor Congress was doing under their then leadership (GOP) and how we needed to elect new leaders (Dem's). Well you guys did (can't blame me as I would never ever vote Dem again) and the Dems are now in full control of both houses of Congress. So, where is all that leadership? Where are all those solutions we were promised? Why aren't the Dem leaders doing something?? Have they passed anything that has come close to solving a problem?? Other than bills that just throw more money at problems that haven't been solved by the first trillion dollars already wasted?

    Regardless of the letter behind the name, either R or D, they are all clueless fools in Congress and we are clueless fools because we keep electing them! And now, our president will be one of the clueless fools from Congress! Great work everyone. Keep those votes coming! Maybe there should be limits on voting...like a basic education or being a tax payer.     Reply
  • commenter
    Brian
    Pursley
    May 23 09:43 AM
    My Website
    America's Energy Policy: Coming to Terms with Reality [view article]
    According to Democrat Party Communists, 10% profit margins for Big Oil are too high but 33% tax profit margins for Big Government are too low. Reply
  • commenter
    buyitcheap
    May 23 09:29 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    User, you're right on - ironically we can convert vehicles to LNG for about $1k a car and that is substantially cheaper than gas, and we have a ton ofit- we'd cut of emissions by more than half from cars if we did that, while working on longer term solutions, like electric cars. Reply
  • commenter
    dtg
    May 23 09:28 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    When you read these articles you ask "who are the idiots that elect these moronic senators?".- Answer, Panskeptic...a typical liberal that can't stay on point when it comes to an argument. Bear Sterns? Reply
  • commenter
    User 176170
    May 23 09:24 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Picerno is dead on. These congressional hearings have been going on since the 1970s energy "crises"--ev... time gasoline prices spike--and have produce nothing but hot air. If the public is so stupid not to see the contradiction between a senator trying to jawbone down gasoline prices while at the same time advocating and voting to subsidize higher priced alternatives, then we deserve to go to H...in a Handbasket. Ethanol is a farm program, not an energy program, and will never be more than a gasoline additive. It will always be more expensive than gasoline. Reply
  • commenter
    theinvesting
    speculator
    May 23 09:21 AM
    My Website
    America's Energy Policy: Coming to Terms with Reality [view article]
    The US has huge inflation from oil and other places. I write about it today:
    theinvestingspeculator...     Reply
  • commenter
    John Armesto
    May 23 09:10 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Finally the Anerican people are seeing that the Democratic congress which is taking orders from politically correct fanatical environmental groups is at the crux of the problem. Thank God for elections this year.
    I bet if you followed the money funding our continued congressional dependence on foreign oil you would find the source is OPEC.     Reply
  • commenter
    Sandy the
    Independent
    May 23 08:46 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Washington and their hearings would be funny if were a Hollywood movie and not something that affects the entire world. Refusing to expand energy, making ethanol the #1 alternative energy -- ethanol that is pushing inflation as badly as the price of energy -- rather than natural gas and wind -- scary.

    But we all must remember that this is an election year. And getting reelected is much more important than the reality of our countery going to H.... in a Handbasket.     Reply
  • commenter
    Jimm
    May 23 08:16 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    I didn't really see anything political in this article. It's pretty accurate.
    If Panskeptic knew anything about how much an oil well in the North Sea costs, or the hoops oil companies have to jump through to build or even repair anything, he's be less skeptical. A 10% profit margin isn't unreasonable.
    Watch 'em, don't hang 'em.
    Reply
  • commenter
    Panskeptic
    May 23 08:07 AM
    America's Energy Policy: Coming to Terms with Reality [view article]
    Well, gee, now we know Picerno's political preferences. And was he as exercised when a bunch of power companies all pulled their capacity offline simultaneously causing a spike in rates, and the Bush Justice Department forbade the states to investigate?

    I find it equally risible when Washington bloviators parrot Ronald Reagan and Milton Friedman slogans that have proven just as untrue, irrelevant and off-the-wall. I love "the magic of the market" that gave us Enron, LTCM and Bear Stearns. But I guess we'll hear about that brainless silliness in Mr. Picerno's next post.     Reply
  • commenter
    Brinks
    May 21 05:56 PM
    IXC Offers Exposure to the World's Biggest Energy Plays [view article]
    I read your Seeking Alpha energy articles with interest.

    How about an article about Foothills Resources? Very unusual situation. Results for their GB Well should be out by May 31.

    Managemnt is world class.


    Listen to www.foothills-resource...

    Date Title
    Apr 09 2008 IPAA Oil & Gas Symposium - Webcast

    Regards

    Adam



    Foothills Resources Overview and Summary ---

    1964:

    "The Grizzly Bluff field was first drilled back in 1964, by a company called Zephyr. At that time the company tested gas at commercial rates from one well flowing at a remarkable 5 million cubic feet per day (MMcf/d). But Zephyr wasn't looking for natural gas but oil and moved on to another field."

    So the fact is, there's little doubt that the gas is there.

    Fast Forward: Excerpt from Foothills Resources Press Release March 26, 2008

    In the Grizzly Bluff (some call it Grizzly Bear) Field GB 4 well was drilled from a surface location about 25 feet (25 FEET !!) from the Zephyr well, which tested gas from the LRD formation at an average rate of 5 million cubic feet of gas per day over a four-day period in 1964. The Zephyr well was ultimately plugged and abandoned without being commercially produced due to the lack of a viable gas market in the area at that time. While drilling, the Foothills GB 4 well encountered the same gas-bearing zones that tested gas in the Zephyr well.

    GB 4 well was successfully drilled using oil-based mud to a total depth of 9,530 feet, electric logs have been run and a production liner cemented in place to prepare for a comprehensive production testing program. .. The successful drilling of the GB 4 well achieved two primary objectives: offset the Zephyr GB 1 well drilled in 1964 that tested gas at significant flow rates from the Lower Rio Dell formation (“LRD”) and evaluate the deeper formations below the Grizzly Bluff Field with the drillbit – the Grizzly Bluff prospect. .. The Foothills GB 4 well encountered the same gas-bearing zones in the LRD formation that tested gas at the rate of 5 million cubic feet of gas per day in the Zephyr well. .. The well encountered extensive gas shows and electric log indications of potential gas-bearing zones from the deeper formations in the Grizzly Bluff prospect.

    Testing of the GB 4 well should be completed by the end of May, 2008.



    Key Listen to www.foothills-resource...

    Date Title
    Apr 09 2008 IPAA Oil & Gas Symposium - Webcast


    Why Purchase Foothills Resources (ftrs)?

    1) Trading Below NAV--- Reserves 7.8 million barrels of oil and oil equivalents
    2) Company targets low risk identified resources.in or near existing infrastucture
    3) Several high impact growth catalysts including prolific natural gas Eel River Basin
    4) Good Cash Flow From Existing Operations --production 620 barrels of oil per day from Goose Creek Oil Field
    Goose Creek Oil Field Multiple PUD and PROB drilling locations--Extensive portfolio of high quality, repeatable recompletion
    and PUD opportunities. Goose Creek Oil Field 150 MMBO produced, 30 productive reservoirs between 800 and 4,500 ft..
    5) First-mover advantage in prolific natural gas Eel River Basin--Grizzly Bluff Prospect..500 Bcf–1 Tcf potential
    Major natural gas development / exploration opportunity in California..Grizzly Bluff Prospect.
    Multiple PUD and PROB drilling locations in intermediate depth Lower Rio Dell formation
    6) Acquired 12.7 sq mi 3D seismic survey over Grizzly Bluff Prospect (3 D SEISMIC)
    7) Very experienced management team---own 18.9% of ftrs fully diluted --60.51 shares outstanding --85.6 million fully diluted
    Dennis B. Tower –CEO and Director..Geologist with 37 years experience in exploration and management positions, including 28 years with ARCO..
    John L. Moran –President and Director..Geologist with 38 years in exploration and management positions,including 19 years with Mobil and Apache
    8) Operating control and dominant position in core areas..
    9) Opportunistic acquirer –access to proprietary M&A deal flow..
    10) Fully-funded 2008 drilling program --Will be drilling 6-8 new oil wells in Goose Creed Oil Field
    11) Goldman Sachs owns 9.3% of fully diluted outstanding shares

    ftrs Foothills Resources Inc

    finance.yahoo.com/q?s=...

    www.investorcalendar.c...=

    . www.foothills-resource...

    finance.yahoo.com/q/bc...


    ..
    .
    Natural Gas Nirvana: Foothills Resources (ftrs: OTCBB)


    Several weeks ago I spent hours investigating a company that at first looked too good to be true.


    My final conclusion?


    Foothills Resources (ftrs: OTCBB), is hands down one of the best undeveloped gas plays I’ve ever seen.


    It’s so good, I classify it as a zero-risk gas play with the massive upside of a pure exploration play.


    Foothills is a company with a large, undeveloped gas property in northern California.


    Everyone I’ve talked to about this company has basically said the same thing: it’s about as low risk a play as you’ll ever find.


    But when talking to CEO Denny Tower, who has been involved in the discovery of billions of barrels of oil in over 35 fields, along with tens of trillions of cubic feet of natural gas. For him to say it’s the best opportunity of its size anywhere, period….now that really made me sit up and take notice.


    You might think Denny is biased, being the CEO. In reality, he’s simply stating the facts.


    Chris Moyes, who’s in the business of finding oil & gas deals for dozens of clients worldwide, agrees. Chris’s company analyzes over 200 deals per year, and has been doing so for decades. These guys know the industry…inside and out.


    And Chris’s response was the same as Denny’s. In fact, Chris liked the deal so much he joined the board.


    This is incredibly important. In fact, everyone in the oil & gas industry who’s had a chance to look at this project has essentially said the same thing: It’s a no-brainer.


    Case in point: When the company set out to raise money early on, they were hoping to get about $7 million in order to get the exploration program off the ground, secure more leases in their target area, and begin drilling.


    As is the norm, the company went to private investors for the funds. Now, these folks are what you’d classify as the “smart money.” Long story short, the company ended up raising $10 million because everyone who heard the story and had a chance to look it over wanted to get in on the deal.


    Here’s why…


    Grizzly


    Foothills has secured the majority of the Eel River Basin in northern California. The basin is home to several conventional natural gas reservoirs, some of which have production history, and some of which are producing right now.


    But the basin, over the past several years, had been forgotten.


    It was first drilled back in 1964, by a company called Zephyr. They tested gas at commercial rates at their first six wells. Now, understand, they had a steady, sustained flow of 5 million cubic feet per day from one well….Grizzly Bluff #1. Obviously, that’s a major hit.


    But these guys were looking for oil, so they capped the well and moved on.


    You see, gas at that time was selling for under 20 cents per thousand cubic feet. On top of that, there was no infrastructure. For the most part gas was considered a nuisance, flared off at the wellhead.


    So the company moved on.


    And so it went for ARCO when they drilled in 1990. Plenty of gas, but no oil.

    So there’s no question the gas is there. In fact, the shallow Anderson formation has proven reserves, which the SEC defines as:

    “…quantities of natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable…”

    As you’ll see, it’s money in the bank.


    Other than one small independent that drilled 10 wells in 2003, the entire basin has been dormant. Most of these wells were in the shallow Anderson play, and three are still producing.


    Now, one of the guys in charge of the ARCO drill program in the 90s got all of the data on Eel River…seismic, drill logs, flow rates, everything. All of this data is now in the hands of Foothills CEO

    Denny Tower, thanks to his connections in the industry, and a past stint at ARCO.

    The company will begin by drilling the Anderson formation, which will allow for very fast completions and cash flow. A little farther out, they’ll target the Grizzly Bluff for the high impact wells.


    A Little Background


    When I first heard about this play I admit there was one thing that concerned me. California, home to the some of the most strident, radical enviro-fascists.


    But the more I looked at the California energy picture, I quickly realized this was a non-issue. First, natural gas is clean and green. It is by far the fuel of choice. But there is a small problem….
    And that’s supply.


    Right now, California imports 82% of it’s gas from out of state, which they must pay competitive prices for (most of this gas comes from BC). So now, what was a languishing asset a decade ago is now a bonanza.

    And, California is trying to mandate that if gas can be produced in California, purchasers will be required to buy that gas rather than importing it from out of state. This, obviously, is at market prices.


    The Foothills property lies in Humboldt County, which has actually has a favorable stance toward gas development. Plus, because there is already production in the basin, the infrastructure is already in place. In fact, there’s a gas trunk line that runs across the Foothills property.


    As a result, and because the Anderson formation is very shallow, these wells can be drilled, tied in and producing in only 10 days.

    The company plans to drill two wells immediately, targeting the shallow Anderson zone. These wells are super low risk production wells. In fact, they’re basically offsets from existing wells.


    As I said, the pipelines are there, so cash flow is immediate, no more than two weeks.


    The company anticipates production from the first two wells to be 1.5 million cubic feet/day for each well. And these are very long-life wells.


    By The Digits


    The wells cost about $1 million, start to finish. Now, these numbers are based on a gas price of about $7. (You know where the price of gas is headed, so keep that in mind.)


    So with the two wells on stream we have an operating profit of $300,000 per month… running around 40 million cubic feet per month. With cash flow of $300,000 per month, payback is in about 7 months. So based on just these two wells, we’re looking at cash flow of about $3.6 million per year.


    Of course, these won’t be the only wells the company drills. Going forward, the first phase plans are for 40 wells in the shallow Anderson play. This first phase will probably take the company 18-24 months to complete.


    From a geologic point of view, I just don’t see any risk. And from an environmental standpoint, the risk is gone. There’s already production from the basin…there are existing county permits to drill the wells, essentially the logistics infrastructure risk has gone away. This is more like gas mining. It’s truly a dream come true.


    So given the proven undeveloped reserves, and the initial 40 wells, we’re looking at 62 billion cubic feet net to Foothills.


    And I haven’t even gotten into the deeper Grizzly play. Remember, when this well was initially drilled it flowed at 5 million cubic feet per day. And, based on the well logs, every indication is that the well should have produced at an even higher rate…10 or 15 million cubic feet per day, per well.


    The deeper prospect holds from 1 to 3 trillion cubic feet.


    This is what gives this company the sex appeal. The deep play could turn this cash flow machine into a bonanza gas company overnight.


    But first, we’ll see the company establish cash flow and ramp up its drilling program in the shallow Anderson zone. This will happen within the next 60 days, so now is the time to own shares. END
    Reply
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