StockGuru Spotlight Pick June 16, 2010
StockGuru Spotlight Picks June 16, 2010
EGCT, ELRE, EENI, BNXR, SMDI, CONX, WNDT
Dear Members:
Have you been able to get in on of the StockGuru Spotlight Highs?
On Monday we Spotlight FEEC and BWMS.
In just two trading days FEEC was up as much as 23% and BWMS up as much as 78%.
This represents trading the StockGuru way. Looking at the news and finding new highs. Be sure to see our “Closer Look” below.
| Date of Stock Guru Pick | ——– | UP AS MUCH AS:— | |
| June 14, 2010 (in two days) | FEEC | FEEC | 23% |
| June 14, 2010 (in two days) | BWMS | BWMS | 78% |
| June 11, 2010 | ATSI | ATSI | 25% |
| June 10, 2010 | CAEH | CAEH | 14% |
| June 9, 2010 | PVSP | PVSP | 30% |
| June 7, 2010 | LBSR | LBSR | 73% |
| June 8, 2010 | CABN | CABN | 76% |
| June 4, 2010 | GARB | GARB | 19% |
| June 3, 2010 | INBG | INBG | 71% |
| June 2, 2010 | USMN | USMN | 195% |
| June 2, 2010 | ECHD | ECHD | 100% |
Stock Guru Closer Look: Stock Light Pick June 14, 2010
Far East Energy Corporation (OTCBB: FEEC)
FEEC has moved straight from early-stage gas production to pipeline sales and the chart reflects this incredible accomplishment.
Far East Energy Corporation (OTCBB: FEEC) negotiated a Gas Sales Agreement (GSA) with its partner, China United Coal Bed Methane Corporation (CUCBM) and Shanxi Provincial Guoxin Energy Development Group Co., Ltd. (SPG) to sell all production of coalbed methane (CBM) from the contract area covered by the Shouyang Production Sharing Contract (the Shouyang Block). The price received by Far East for its gas will be 1.55 Rmb per cubic meter, including enacted and recently announced Chinese government subsidies, which equates to approximately US$6.55 per Mcf at current exchange rates.
This gas price is over thirty-five percent higher than current US gas prices, which are running about US$4.80 per Mcf. This is one of the advantages of producing CBM in China. The pipeline has the capacity to take up to 40 to 50 million cubic feet per day of our Shouyang gas.
The GSA is a 20-year agreement that provides that SPG is required to purchase all gas produced from the Shouyang Block up to 300,000 cubic meters (10,584,000 cubic feet) per day of CBM gas on a take-or-pay basis with any quantities above such amount to be negotiated pursuant to a separate agreement. This provision gives Far East and CUCBM the opportunity to negotiate a new contract for volumes above 10.584 million cubic feet per day at a time when a second pipeline may have been built to the area, and/or when gas prices may have risen further. The GSA does not have any minimum delivery obligations, but does commit all production from the Shouyang Block up to 300,000 cubic meters per day to SPG.
FEEC also announced that gas production from its Shouyang Block in Shanxi Province, China, has surpassed 750 Mcf per day. After drilling additional wells and a successful 11-well fracture stimulation program during April 2010, the Company has seen a significant increase in gas production. The 20D well, located in the center of Far East’s pattern of wells, is currently producing above 160 Mcf per day; and the 17D well, also in the central part of the pattern, is above 90 Mcf per day. A second fracture program of 7 to 8 wells is underway. The Company is presently drilling and/or completing 5 new wells in the 1H Pilot Area, and further production increases are expected.
It is expected that production will steadily increase as additional wells are added with the 20D and the 17D wells. Seven additional step-out or parameter wells are planned to be drilled in the next three months to continue testing the #3, #9 and #15 coal seams all the way to the eastern and western boundaries of the Shouyang Block. These seven wells will be in addition to five parameter wells that have already been drilled at intervals of several kilometers from the 1H Pilot Area to test the extent of high permeability and high gas content in the northern portion of the Shouyang Block. Early testing of the P4 and P5 parameter wells has shown good permeability, which is also true with the other parameter wells the Company has drilled and stimulated reaching out from the 1H Pilot Area. The P3 parameter well is already producing in excess of 70 Mcf per day, and the P4 is above 60 Mcf per day.The results of the other seven parameter wells are expected by the third quarter.
FEEC StockGuru Press Release FEEC Stock Guru Announcement
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