Trades stable enough recently to park some cash at 5% yield (.02 monthly).. Not for capital appreciation. JMO
BRUSSELS – European Union ambassadors have decided to keep Ukraine-related sanctions against Russia in place for the time being.
EU foreign affairs spokeswoman Maja Kocijancic said ambassadors from the 28 EU countries agreed Tuesday that although there has been encouraging progress in bringing about an end to the conflict in eastern Ukraine, not enough has been done to justify rolling back sanctions.
Kiev and the West have asserted that Moscow is fueling the separatist insurgency in eastern Ukraine by providing arms and personnel, something Russia denies.
The EU sanctions target sectors of the Russian economy, Russian and pro-Russian Ukrainian officials, businesses and organizations.
Kocijancic said the EU will continue to monitor the situation and could propose to amend, suspend or repeal some or all of the sanctions, depending on developments.
As a result of the drilling formation samples were obtained, a pilot borehole was drilled (diameter 8.5 inches to a depth of 600 m) and horizontal drill samples were collected. Specialists obtained substantial amount of new geological data which will be elaborated. Upon the completion of the analysis a conclusion on the resource base of the discovered field can be made. At the moment the geological data interpretation is being conducted, the field’s development model is being elaborated. The security and fail-safety of the operations of future drilling is guaranteed by the landing of 5 columns.
During the ceremony dedicated to the completion of the drilling the head of Rosneft Igor Sechin said: “I can inform you about the discovery of the first oil/gas-condensate field in the new Kara sea oil province. The first oil was extracted. It is an astonishing sample of light oil, which based on the results of the analysis performed, is comparable to the Siberian Light oil. The resource base estimate of just this oil trap is 338 bcm of gas and more than 100 mln tones of oil. And this is just the estimates of this very structure. This is an outstanding result of the first exploratory drilling on a completely new offshore field. This is our united victory, it was achieved thanks to our friends and partners from ExxonMobil, Nord Atlantic Drilling, Schlumberger, Halliburton, Weatherford, Baker, Trendsetter, FMC. We would like to name this field Pobeda
the good old days of FDG:
Why Cliffs Natural Resources (CLF) Stock Continues To Slump Today
BY Amanda Schiavo Follow |
09/26/14 - 12:57 PM EDT |
NEW YORK (TheStreet) -- Shares of Cliffs Natural Resources Inc. (CLF_) are lower by 3.58% to $11.03 in early afternoon trading on Friday, as the stock continues to decline from yesterday, after it was announced the quarterly benchmark price for metallurgical coal fell to a six year low for the fourth quarter, Bloomberg Buisnessweek reported.
Doyle Trading Consultants LLC. issued a report stating that Chinese demand for the material needed for steel making declined, resulting in the fourth quarter price of $119 per metric ton, a decrease of one dollar from the previous quarter, Businessweek added.
Other coal stocks falling today include: Peabody Energy Corp. (BTU_) , lower by 1.67% to $12.09, and Arch Coal Inc. (ACI_) , down by 2.31% to $2.11.
PSEC went X/D today and NRZ and NCT went x/d on wed, along with AI and NYMT. High payers taking hits the last week.
Giddy Up Sarge :~). This has been overlooked by some. Substantial surplus of earnings over divvy for this quarter means the extra will probably go into their bank of carryforwards earnings:
Due to an aircraft monetization event within Echelon Aviation LLC, Prospect from such monetization generated during the September 2014 quarter a $38 million increase in tax-based income, or 11 cents per share. Prospect expects to announce its September 2014 quarter earnings in early November, and Prospect expects September 2014 quarter tax-based income to substantially exceed dividends in the September 2014 quarter. Tax-based income determines the distribution requirement for a regulated investment company like Prospect in order to avoid characterization as a corporate taxpayer
Just saw it Huff and the commentary is most important here. Declared for only Jan, instead of the whole first quarter BUT an increase in line with previous declarations. If their business continues as they've predicated I'd guess they'll go back to the 3 month pattern starting in April. Good news indeed. Hopefully the shareprice will pop today with all the naysayers bailing on what they expected to be a cut in the dividend. Again, good news indeed.
Max, still holding some SDRL but still waiting to add to my position, as with NADL. Not too much movement today with JF's 2 million share purchase. I still think bottom hasn't been reached yet.
Billionaire John Fredriksen boosted his stake in rig company Seadrill Ltd. after the stock dropped on a market downturn, a longtime adviser left, and amid uncertainty over a Russian deal.
Fredriksen’s Hemen Holding Ltd. yesterday bought 2 million shares in the world’s biggest offshore-rig company by market value, boosting its stake to 115.1 million shares, or 23.34 percent of the total, Seadrill said in a statement. At yesterday’s closing price in New York, the acquisition would have cost $56.8 million.
The purchase shows Fredriksen’s commitment to Seadrill, his most valuable asset, after the company fell more than 20 percent in the past three weeks. The decline is due to a worsening rig market, risk that a $4.25 billion deal with Russia’s OAO Rosneft could fall through because of international sanctions, and the departure from Seadrill’s board of Fredriksen’s top adviser for two decades, Tor Olav Troeim.
Seadrill rose as much as 2.9 percent in Oslo trading, the most since Aug. 11, and gained 0.3 percent to 178.4 kroner as of 10:09 a.m
Kee: MHG does have some Russian contracts but it it but a small part of their business, perhaps 5%, so should be no significant effect on their business.
Stagg, I agree. Still holding my position and waiting for MY entry point after the knife lands. An analysis by a very astute poster on the IV SDRL board says SDRL will have no trouble meeting it's dividend out of current cash flow for far into the future.