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SPC
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Pinnacle
Master |
19-Oct-2007 09:00
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Today should be up as after market crude oil is above $90. |
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idesa168
Elite |
19-Oct-2007 08:58
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But SPC doesn't spell good lately! |
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chinkiasu
Master |
19-Oct-2007 05:20
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hi idesa, the prodigal son.... welcome back..... !!! some strong lessons for all of us..... |
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idesa168
Elite |
17-Oct-2007 18:25
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Hi, I am back with SPC...after a few rounds with other stocks. I think SPC is still the best. Took position at $8.50. Hope to ride till $10.00...hehehe...Cheers! |
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Fairygal
Veteran |
16-Oct-2007 21:59
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Oh my my! If I were to be lost in the mountains in Austria in June, and only get home now, I can sell my SPC now ..........and buy a little cosy house overlooking the mountains! Sigh! |
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KiLrOy
Master |
16-Oct-2007 21:59
Yells: "I buy only what I can see." |
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I thought of him a couple days back as well! :) Then again, his warrants have already expired. No sure if he can convert it to shares there and then though. |
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tanglinboy
Elite |
16-Oct-2007 21:56
Yells: "hello!" |
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Holy cow! Where's giantlow? If he held on to this stock, he'll be rich now!! |
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KiLrOy
Master |
16-Oct-2007 21:19
Yells: "I buy only what I can see." |
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OPEC Says Has Done Enough to Cool Record Oil Price| 16 Oct 2007 | 08:39 AM ET OPEC has done its utmost to satisfy the world's demand for fuel and pumping even more crude will do little to halt oil's rally towards $88 a barrel, officials said on Tuesday. There is no fundamental justification for a price run-up that has lifted oil from below $70 in mid-August, say officials from the group that pumps more than a third of the world's oil. "OPEC cannot do much now," Libya's top oil official Shokri Ghanem told Reuters. "OPEC did all that it can." At its meeting in September, with oil a touch below $80, the Organization of the Petroleum Exporting Countries agreed to boost output by 500,000 barrels per day (bpd) from Nov. 1 to soothe consumer concerns of tight supplies and costly fuel. But oil is now closing in on the inflation-adjusted high of $90.46 seen in 1980, with investors citing rising tension between Turkey and Kurdish separatists in Iraq, robust oil demand growth, tight fuel stockpiles and a weak dollar. OPEC officials are brushing aside worries over supply, insisting they are shipping more than enough crude to consumers. They are placing the blame on speculative hedge funds and political tension. "The market fundamentals are in balance. There is too much money coming into the market," Indonesia's OPEC Governor Maizar Rahman told Reuters, referring to speculative investors who see energy as a good bet. Leading OPEC producer Saudi Arabia, the driving force behind the November increase, has yet to make public comment. But delegates from two OPEC countries in the Middle East said they were unaware of any talk of raising supplies beyond the extra 500,000 barrels per day (bpd) agreed from Nov. 1. "I have not heard of any talk of a further OPEC output increase," said one of the delegates, declining to be named. The second said he had heard nothing from other OPEC members suggesting a further production hike was on the cards. With ministers in the Gulf only just returning to their desks after the Muslim fasting month of Ramadan, it may take time to contact everyone involved, said an OPEC source. Heightened political tension is also behind the price spike, said OPEC officials. "It is not because of a lack of crude oil," said Libya's Ghanem. "There is all the uncertainty in Iraq and the Gulf area." |
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chunster
Member |
16-Oct-2007 18:37
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This stock has been climbing (and a lot today). Can anyone share your opinion on whether the climb is still sustainable? Thanks. |
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Pinnacle
Master |
15-Oct-2007 18:45
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SPC?S STAKE IN CUE ENERGY REACHES 9.50% SINGAPORE, 15 OCTOBER 2007 ? Singapore Petroleum Company Limited (SPC) has according to the requirements of the Australian Corporations Act 2001, notified the Australian Securities Exchange (ASX) that SPC has increased its shareholding in Cue Energy Resources Limited (Cue Energy) to approximately 9.50%. This follows SPC?s earlier announcements dated 23 July, 3 and 17 August 2007. From 20 August 2007 to 12 October 2007, SPC acquired 6,602,902 Cue Energy shares for investment purposes in the ordinary course of trading on the ASX at an average price of A$0.2368 per share. This brings SPC?s total shareholding in Cue Energy to 59,658,633 ordinary shares. These shares are held through nominee holders. Cue Energy is one of SPC?s existing partners in the Sampang Production Sharing Contract in Indonesia, and SPC may from time to time explore the possibility of closer co-operation with its partners. Any discussions with Cue would be on an exploratory basis. The Group does not expect the above transaction to have any material impact on the earnings per share and the net tangible asset per share of the SPC group of companies for the current financial year. |
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Pinnacle
Master |
14-Oct-2007 21:37
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Oil hits record $84 on supply concernsNEW YORK (Reuters) - Oil hit a record above $84 a barrel on Friday on mounting tensions between Turkey and northern Iraq and lingering supply concerns ahead of the Northern Hemisphere winter. U.S. crude settled up 61 cents at $83.69 a barrel, after trading up to a record $84.05 a barrel earlier. London Brent crude climbed 40 cents to $80.55 a barrel. Though oil prices have quadrupled since 2002, when adjusted for inflation the price is still below the $90-a-barrel peaks at the time of the Iranian revolution in 1979. Prices jumped after the Kurdistan Workers Party said it would move back into Turkey from northern Iraq and target the Turkish government, highlighting tensions in a region that pumps a third of the world's oil. Iraq's oil exports through Turkey have been virtually idle since the U.S.-led invasion of Iraq in March 2003 due to sabotage attacks, and most of Iraq's oil is exported from the country's south. The rising tensions added to worries of a supply crunch during the Northern Hemisphere winter after declines in U.S. and European fuel inventories. The latest snapshot of oil supplies in top consumer the United States showed a 1.7 million barrel fall in crude oil stocks last week to the lowest level since January. European oil stocks have also slimmed. "I do think fundamentals are supportive of where the price is," said Tony Dolphin, director of economics and strategy at Henderson Global Investors. "Demand continues to be boosted by the strength of the emerging economies. And not just China." U.S. Energy Secretary Sam Bodman said the U.S. economy has proved "remarkably resilient" to strong oil prices and that markets may not need a second hike in crude output from OPEC. The Organization of Petroleum Exporting Countries agreed in September to boost crude supplies by 500,000 barrels per day starting in November. But many analysts have called the move insufficient to avert a squeeze this winter when cold boosts heating oil demand. Adding support, U.S. retail sales rose solidly in September while a key inflation gauge remained muted, data on Friday showed, suggesting the economy retained some buoyancy despite concerns about a weakening housing sector. Markets were also eyeing escalation tensions between Washington and Ankara, a crucial ally for the United States which relies on Turkey as a logistical base for the Iraq war. Turkey's prime minister, Tayyip Erdogan, said relations between Turkey and the United States are in danger over a U.S. resolution branding massacres of Armenians by Ottoman Turks during World War One as genocide. |
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Pinnacle
Master |
12-Oct-2007 17:13
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Oil edges below $83, sinking U.S. fuel stocks supportLONDON (Reuters) - Oil eased below $83 a barrel on Friday, still well within sight of an all-time high after a surprise drop in U.S. fuel stocks stoked concerns of a supply crunch this winter in the world's top consumer. Worries over tightening supplies have kept oil near record highs for a month and on Thursday sent U.S. heating oil prices to a new peak. U.S. crude eased 30 cents to $82.78 a barrel by 4:30 a.m. EDT. The previous day it traded as high as $83.76, close to a record $83.90 struck on September 20. London Brent crude slipped 36 cents to $79.79. U.S. crude oil stocks sank 1.7 million barrels last week to the lowest level since January, catching analysts who had expected a build of 900,000 barrels unawares. "Brent and WTI crude futures both soared to new nominal highs on October 11, propelled by news of a surprise weekly draw in U.S. crude stocks and a broader, counter-seasonal, third-quarter slide in total OECD oil inventories," said Antoine Half from Fimat's Energy Research, in a report. Supplies of distillates declined by 600,000 barrels last week, while heating oil stocks rose 1 million barrels. Gasoline stocks rose 1.7 million barrels. On Thursday, the International Energy Agency said high oil prices were tempting consumers to switch to cheaper natural gas. The Paris-based agency cut its fourth-quarter demand growth estimate by 320,000 barrels per day to 2.03 million bpd. The weak U.S. dollar continues to support oil and commodity prices, with gold and platinum hitting fresh highs on Thursday. A decision by the Organization of Petroleum Exporting Countries to add 500,000 barrels per day of crude to the market starting in November has failed to cool prices. Top exporter Saudi Arabia told Asian customers on Thursday it would increase shipments by about 10 percent. |
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ChinChye
Member |
12-Oct-2007 12:38
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Yap, is there a final dividend also?? |
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idesa168
Elite |
12-Oct-2007 10:20
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SPC is on downtrend. Hope it's temporary, good time to accumulate. Anyone knows when is the release of 3Q earning results? Thanks |
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chinkiasu
Master |
11-Oct-2007 13:10
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SINGAPORE, 11 OCTOBER 2007 Limited?s wholly-owned subsidiary, SPC Cambodia Ltd (SPC Cambodia), and its partners have completed their acquisition of a combined 10% interest in Block B exploration block in Cambodia, further to an announcement on 5 January 2007. This follows approvals by the Cambodian National Petroleum Authority. The additional 10% interest was acquired from CE Cambodia B Ltd, a whollyowned subsidiary of Cooper Energy Limited. With its completion, SPC Cambodia and its two partners, PTTEP International Limited and Resourceful Petroleum Limited, each have one-third share in Block B. Block B is located 250km off the coast of Cambodia to the east of the Thai- Cambodian Overlapping Claims Area, in the Gulf of Thailand. Block B lies to the southeast of the Khmer basin where a number of oil and gas discoveries
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Pinnacle
Master |
11-Oct-2007 08:53
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Oil rises over a dollar on supply worries NEW YORK (Reuters) - Oil prices rose more than a dollar on Wednesday on expectations of tight fuel inventories heading into the Northern Hemisphere winter and news of a fire at BP Plc's oil field in Alaska. U.S. crude jumped $1.04 to $81.30 a barrel by 2:30 p.m. EDT, after gaining more than $1.24 on Tuesday. London Brent crude rose $1.11 to $78.60. Dealers said the gains were tied to lingering worries that global oil inventories would tighten up when cold weather boosts heating fuel demand in the coming months. Europe's oil inventories declined in September, industry monitor Euroilstock said on Tuesday, while forecasts for colder weather this year in the United States has led to expectations of higher demand for heating oil. The crude oil market also got a boost after British oil company BP (BP.L: Quote, Profile, Research) said a fire at its giant Prudhoe Bay oil field in Alaska forced it to cut 30,000 barrels of daily production for two weeks. The blaze came after BP was criticized for three separate fires at its Alaska North Slope operations in August. Oil prices have been holding around the $80 mark since striking a record $83.90 in mid-September. The Organization of the Petroleum Exporting Countries agreed last month to increase production by 500,000 barrels per day, effective November 1, but energy analysts have said the boost would do little to avert a supply squeeze. Goldman Sachs said Wednesday there were few signs yet of the increased OPEC output and predicted inventories could be at historically low levels by the end of the year. "Little of this oil will likely arrive in consuming regions before the end of the year," the bank said. "As a result, we expect a rare counter-seasonal drawdown in OECD oil inventories during 3Q 2007." Tensions between Turkey and Iraq also helped lift crude, dealers said. Turkish Prime Minister Tayyip Erdogan confirmed Wednesday his government was drawing up plans to authorize a strike on Kurdish rebels. The weak dollar, which has also helped drive oil and other commodities higher, slipped again on Wednesday, pressured by expectations the U.S. Federal Reserve will have to cut interest rates again this year to help revive the U.S. economy. U.S. weekly oil inventory data, due on Thursday, were expected to show a 900,000-barrel increase in crude stocks, a 400,000-barrel decline in distillates -- including heating fuel -- and a 100,000-barrel rise in gasoline. |
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Pinnacle
Master |
10-Oct-2007 22:04
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Oil holds above $80 LONDON (Reuters) - Oil held above $80 a barrel on Wednesday, supported by concerns over declining heating oil stocks in the run-up to winter. U.S. crude eased 13 cents to $80.13 a barrel by 9:25 a.m. ET, after gaining more than $1.24 on Tuesday. London Brent crude shed 11 cents to $77.38. Europe's oil inventories declined in September, industry monitor Euroilstock said on Tuesday, while forecast of colder weather this year in the United States has led to expectations of higher demand for heating oil. Expectations of a tighter supply/demand balance ahead of winter is helping to keep oil near the record highs above $80 reached last month. "The tight balance is likely to persist in the near term, even embedding an increase in OPEC production," investment bank Goldman Sachs said in a note. The Organization of the Petroleum Exporting Countries last month agreed a 500,000 barrel per day increase in production effective from November 1. But Goldman Sachs predicted there were few signs yet of this increased output. "Little of this oil will likely arrive in consuming regions before the end of the year," the bank said. "As a result, we expect a rare counter-seasonal drawdown in OECD oil inventories during 3Q 2007." The bank predicted inventories could be at historically low levels by the end of the year. Saudi Arabia, the world's top oil exporter, for example, will keep its crude oil supply steady to European customers in November versus October but is expected to boost shipments to Asia. The kingdom has kept exports steady for months, with its production at around 8.6 million barrels per day. U.S. weekly oil inventory, due out on Thursday, are expected to show a 900,000-barrel build in crude stocks, a 400,000-barrel draw in distillates -- including heating fuel -- and a 100,000-barrel increase in gasoline. The weak dollar, which has helped drive oil higher, slipped again on Wednesday, pressured by expectations the U.S. Federal Reserve will have to cut interest rates again this year to help revive the U.S. economy. The U.S. Energy Information Administration (EIA) said consumers in the world's top energy market will pay 10 percent more to warm their homes this winter than last year. Government weather experts said this winter will be colder than last year's, but warmer than the norm. |
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idesa168
Elite |
10-Oct-2007 10:39
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I think as far as SPC dun surge like the last 2 days sp aggressively, it's doing fine. Climb slowly, surely. Cheers. |
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idesa168
Elite |
10-Oct-2007 08:49
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Well CKS, I am only looking at the short term of SPC that I am not too optimistic, just my personal view. If what I see from the chart is true, I am ready to collect. I am leaving my option open since I am sitting on cash now, just trading on China counters. I kinda agree with you that China counters are way a little over value if you compare the valuation with the SIngapore bourse. However, if measure against the HK and China, it's still undervalue. So there are 2 schools of thoughts here. As I mentioned, I will leaving my option open, not in the hurry to plunge my $$ in anywhere. As for long term of SPC, I am still holding my view...$9.00 at least. But since I am holding to only 1 lot, I am waiting for $15.00 (hope you are laughing at me...hehehe) |
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chinkiasu
Master |
10-Oct-2007 03:54
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hi solar2000 welcome ! & fancy seeing you here is this late/early hour.... or are you posting from overseas? whilst I agree with your general motherhoods, in case of DBSV what are your specific views since they are seen as professional.. btw I suggest you read their analyst in depth (which I do) before commenting so we all can learnt from this example |
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