Natural gas and electricity retailer�Just Energy (NYSE: JE ) announced yesterday its monthly July dividend of $0.07 Canadian per share, the same rate it's paid for the past three months after cutting the payout 32% from $0.10333 Canadian per share in April.
The board of directors said the dividend is payable on July 31 to the holders of record at the close of business on July 15. The energy retailer has made monthly payouts to investors under its current organization since 2011, but has been paying dividends to investors since 1997.�The dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Just Energy also notes that for U.S. and Canadian investors that own a minimum of 100 shares, they can avail themselves of the company's dividend reinvestment and share purchase plan.
It also said�that as of June 30, the conversion price for each $1,000 Canadian of its outstanding 6% convertible unsecured subordinated debenture that it issued on Oct. 2, 2007, has been adjusted in accordance with the trust indenture dated Dec. 2, 2007, to $25.04 Canadian convertible into 39.94 common shares of Just Energy.
Hot Logistics Stocks To Watch Right Now: FX Energy Inc (FXEN)
FX Energy, Inc. is an independent oil and gas exploration and production company with production, appraisal, and exploration activities in Poland. The Company operates within two segments of the oil and gas industry: the exploration and production (E&P) segment in Poland and the United States, and the oilfield services segment in the United States. The Company also has oil production, oilfield service activities, and a shale acreage position in the United States. During the year ended December 31, 2011, its oil and gas production was 4.4 billion cubic feet of natural gas (12.0 million cubic feet equivalent per day). The Company concentrates its exploration operations in Poland primarily on the Rotliegend sandstones of the Permian Basin. The Company has identified a core area consisting of approximately 852,000 gross acres surrounding PGNiG�� producing Radlin field.
Activities and Presence in Poland
The Company conducts its activities in Poland in project areas, including Fences, Blocks 287, 246, and 229 near the Fences concession, Warsaw South, Kutno, Northwest, and Edge. In the Fences during 2011, it completed the Lisewo-1 well as a commercial well and drilled the Plawce-2 well in a tight sand area. In its other concessions it drilled the Machnatka-2 well, a noncommercial Zechstein/Carboniferous test, in the Warsaw South concession, and started drilling the Kutno-2 well, a deep Rotliegend test, in the Kutno concession. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Poland�� Permian Basin. The Fences concession area encompasses 852,000 gross acres (3,450 square kilometers) in western Poland�� Permian Basin. The Company has drilled 11 conventional wells targeting Rotliegend structures through the date of this filing. Eight of these wells are commercial. The Company is produce from four of these eight wells.
The Block 287 concession area is 12,000 acres (50 square kilometers) located approximately 25 miles so! uth of the Fences concession area. The Company owns 100% of the exploration rights. As of December 31, 2011, it has reentered only the Grabowka-12 well. During 2011, it produced at an average daily rate of approximately 0.2 million cubic feet of natural gas per day. The Company has a 100% interest in a concession south of its Fences project area covering approximately 241,000 acres (975 square kilometers). The Company hold a 51% interest in a total of 874,000 acres (3,538 square kilometers.) in east-central Poland. During 2011, it entered into a farmout agreement with PGNiG under which it earned a 49% interest in the entire Warsaw South concession in return for paying certain seismic and drilling costs. It subsequently drilled the Machnatka-2 well to test Zechstein and Carboniferous potential in the western part of the concession area.
The Company holds a 100% interest in 706,000 acres (2,856 square kilometers). The area encompasses a Rotliegend structure (Kutno) with projected four-way dip closure. It started drilling the Kutno-2 well during 2011. It hold concessions on 828,000 acres (3,351 square kilometers) in west-central Poland, in Poland�� Permian Basin directly north of PGNiG�� BMB and MLG oil and gas fields. The Company has a 100% interest in four concessions in north-central Poland covering approximately 881,000 acres (3,567 square kilometers). As of December 31, 2011, it held oil and gas exploration rights in Poland in separately designated project areas encompassing approximately 4.6 million gross acres. The Company is the operator in all areas, except its 852,000 gross-acre core Fences project area, in which it hold a 49% interest in approximately 807,000 acres and a 24.5% interest in the remaining 45,000 acres.
U.S. Activities and Presence
The operations consist of shallow, oil-producing wells in the Southwest Cut Bank Sand Unit (SWCBSU), of Montana. Its oil wells produce approximately 155 barrels of oil per day, net to its interest. From its fie! ld office! in Montana, the Company also provides oilfield services. The Company produces oil from approximately 10,732 gross (10,418 net) acres in Montana and 400 gross (128 net) acres in Nevada. In 2011, the Company entered into a joint venture with two other companies, American Eagle Energy, Inc., and Big Sky Operating LLC, in which it pooled our approximately 10,000 net acres in our SWCBSU with their approximately 65,000 net acres, the Americana leases, along with a farmout agreement that provides the group with an ability to earn an interest in an additional 7,000 acres covered by the Somont leases. During 2011, it drilled three vertical wells on joint venture acreage to obtain log and core data. The Company also drilled a 3,600-foot lateral from one of these three wells, the Anderson 14-29, and carried out a multistage fracture. The Company is testing oil potential in the Anderson 14-29 well. The Company has a one-third working interest in all formations below the Cut Bank in its SWCBSU.
Advisors' Opinion:- [By Roberto Pedone]
Another energy player that's starting to trend within range of triggering a major breakout trade is FX Energy (FXEN), which is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock is off to a slow start in 2013, with shares off by 14%.
If you take a look at the chart for FX Energy, you'll notice that this stock has been trending sideways inside of a consolidation chart pattern for the last two months and change, with shares moving between $2.93 on the downside and $3.98 on the upside. Shares of FXEN are now starting to bounce higher off its 50-day moving average of $3.36 share, and it's quickly moving within range of triggering a major breakout trade above the upper-end of its recent range.
Traders should now look for long-biased trades in FXEN if it manages to break out above some key near-term overhead resistance levels at $3.62 to $3.71 a share and then above more resistance at $3.98 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 377,632 shares. If that breakout hits soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76 a share. Any high-volume move above those levels will then give FXEN a chance to tag or trend above $5 a share.
Traders can look to buy FXEN off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $3.15 or $2.93 a share. One could also buy FXEN off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
- [By James E. Brumley]
I hate to be the one to say I told you so, but, I told you so. Within the past week I suggested both FX Energy, Inc. (NASDAQ:FXEN) and MeetMe Inc. (NYSEMKT:MEET) were on the verge of breakouts, and sure enough, both are making good on that promise today; FXEN is up 5%, and MEET shares are higher by nearly 13%. Granted, the market's bullish tide is helping... a little. But, with both of these stocks outpacing the market's gain today, odds are that we would have seen these breakout moves anyway.
- [By Roberto Pedone]
FX Energy (FXEN) is an independent oil and gas exploration and production company with principal production, reserves and exploration in Poland and oil production, oilfield service and exploration activities in the U.S. This stock closed up 5.7% to $3.69 in Thursday's trading session.
Thursday's Range: $3.34-$3.71
52-Week Range: $2.48-$8.78
Thursday's Volume: 524,000
Three-Month Average Volume: 672,515From a technical perspective, FXEN bounced notably higher here right above some near-term support at $3.31 and back above its 50-day moving average of $3.66 with decent upside volume. This move is quickly pushing shares of FXEN within range of triggering a near-term breakout trade. That trade will hit if FXEN manages to take out some near-term overhead resistance levels at its 200-day moving average of $3.89 to more resistance at $3.98.
Traders should now look for long-biased trades in FXEN as long as it's trending above support at $3.31 and then once it sustains a move or close above those breakout levels with volume that hits near or above 672,515 shares. If that breakout triggers soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.76. Any high-volume move above those levels will then put its recent high at $5 into range for shares of FXEN.
Top 5 Energy Stocks To Watch Right Now: Gastar Exploration Ltd (GST)
Gastar Exploration Ltd (Gastar) is an independent energy company engaged in the exploration, development and production of natural gas and oil in the United States. The Company�� principal business activities include the identification, acquisition, and subsequent exploration and development of natural gas and oil properties with an emphasis on unconventional reserves, such as shale resource plays. As of December 31, 2011, it is pursuing the development of liquids-rich natural gas in the Marcellus Shale in the Appalachia area of West Virginia and, to a lesser extent, central and southwestern Pennsylvania. The Company also holds prospective acreage in the deep Bossier play in the Hilltop area of East Texas and conduct limited coal bed methane (CBM) development activities within the Powder River Basin of Wyoming and Montana. The Company is a holding company. Advisors' Opinion:- [By Robert Rapier]
Gastar Exploration (NYSE: GST) is another Aggressive Portfolio pick made on Dec. 11, and so far it has rallied quite aggressively, producing a three-week capital gain of 26 percent. It helped here too to catch the very bottom of the recent correction, but Gastar has continued to report strong test well results from the Hunton Limestone play it’s pioneering in Oklahoma.
- [By Josh Young]
The parallel to Goodrich in the transaction is Gastar Exploration (GST), which has approximately 100,000 net acres in the Hunton (excluding additional exposure from the WEHLU deal). Gastar, similar to Goodrich prior to the Sanchez TMS deal, seems to trade at a discount to a $2,000 per acre implied value for its unconventional oil acreage. In fact, Gastar's CEO recently said he thought the current liquidation value of Gastar's Marcellus assets would be $4-7 per share, net of debt, versus the current $4.25 share price.
Top 5 Energy Stocks To Watch Right Now: Lightstream Resources Ltd (LSTMF.PK)
Lightstream Resources Ltd, formerly PetroBakken Energy Ltd., is a Canada-based oil and gas exploration and production company. The Company�� principal operating areas include southeastern Saskatchewan where it targets the Bakken formation and conventional Mississippian reservoirs, central Alberta, where it is focused on the Cardium formation, and north-central Alberta, where it is engaged in exploring for light oil resource plays. In addition, the Company also has land holdings in the Horn River and Montney plays in northeast British Columbia. On December 31, 2012, Petrobank Energy and Resources Ltd. and PetroBakken Energy Ltd. announced the completion of the reorganization. The Reorganization resulted in a newly incorporated company PetroBakken Energy Ltd. (New PetroBakken). Advisors' Opinion:- [By MLP Trader]
Here are the current top five companies in the list:
CompanySymbolEV/BOEPD/NetbackPrice/NAVEV/DACFPinecrest(PNCGF.PK)53564%4.0XLightstream(LSTMF.PK)131753%4.5XNovus(NOVUF.PK)133290%4.1XZargon(ZARFF.PK)138664%5.6XTwin Butte(TBTEF.PK)155885%5.5XOf the larger companies, one that remains obstinately near the top of the list is Lightstream . Lightstream trades at 40% of its book value and a whopping 13.4% yield.
Top 5 Energy Stocks To Watch Right Now: CGG SA (CGG)
CGG SA, formerly Compagnie Generale de Geophysique-Veritas, is a manufacturer of geophysical equipment and a provider of a range of seismic services in data acquisition and processing both onshore and offshore, principally to clients in the oil and gas exploration and production industry. The Company operates in two segments: Services and Equipment.
Services
The services segment includes land contract, marine contract, multi-client land and marine, and processing, imaging and reservoir. The land contract includes seismic data acquisition for land, transition zones and shallow water undertaken by the Company on behalf of a specific client. The marine contract includes seismic data acquisition offshore undertaken by the Company on behalf of a specific client. The multi-client land and marine includes seismic data acquisition undertaken by the Company and licensed to a number of clients on a non-exclusive basis. The processing, imaging and reservoir includes processing, imaging and interpretation of geophysical data, data management and reservoir studies for clients.
Land seismic acquisition includes all seismic surveying techniques where the recording sensor is either in direct contact with, or in close proximity to, the ground. The Company�� land business line offers integrated services, including the acquisition and on site processing of seismic data on land, in transition zones and on the ocean floor (shallow water and seabed surveys). It undertakes land surveys with both a contract and multi-client basis. The land operations include surveying and recording crews. Surveying crews lay out the lines to be recorded and mark the sites for shot-hole placement or equipment location. Recording crews produce acoustic impulses and use recording units to synchronize the shooting and record the seismic signals through geophones.
The Company provides a range of three-dimensional (3D) marine seismic services, principally in the Gulf of Mexico, the North Sea an! d off the coasts of West Africa and Brazil, as well as in the Asia-Pacific region. As of December 31, 2011, the Company had a fleet of 19 vessels, including 11 three dimension (3D) high capacity vessels (12 or more streamers), two 10 streamer 3D vessels, three eight streamer 3D vessels and three 3D/two dimension (2D) vessels of lower capacity. Marine seismic surveys are conducted through the deployment of submersible cables (streamers) and acoustic sources (airguns) from marine vessels.
Seismic data processing operations transform seismic data acquired in the field into 2D cross-sections, or 3D images of the earth�� subsurface or four-dimensional (4D) time-lapse seismic data using Geovation and Hampson-Russell software, or third party applications. These images are then interpreted by geophysicists and geologists for use by oil and gas companies in evaluating prospective areas, selecting drilling sites and managing producing reservoirs. The Company provides seismic data processing and reservoir services through the network of data processing centers and reservoir teams located worldwide. As of December 31, 2011, it operated 43 worldwide processing and imaging centers, including 13 dedicated client centers.
Equipment
The Company conducts its equipment development and production operations through Sercel and its subsidiaries. Sercel operates five seismic equipment manufacturing facilities, located in Nantes and Saint Gaudens in France, Houston, Singapore and Alfreton in England. In China, Sercel operates through Hebei Sercel-JunFeng Geophysical Equipment Co. Ltd, based in Hebei. Sercel offers and supports worldwide a range of geophysical equipment for seismic data acquisition, including seismic recording equipment, software and seismic sources, and provides its clients with integrated solutions. Sercel�� principal product line is seismic recording equipment, particularly the 400 family of recording systems, the 408UL and the 428XL. Sercel also markets for vibros! eismic ve! hicles and for vibrator electronic systems (VE 464). Sercel develops and produces a range of geophysical equipment for seismic data acquisition and other ancillary geophysical products, such as geophones, cables and connectors.
The Company competes with WesternGeco, Global Geophysical Services, BGP, Geokinetics, PGS, Fugro and Ion Geophysical Inc.
Advisors' Opinion:- [By David Smith]
Despite Craighead's relative ebullience regarding North America, it nevertheless appears that the sizzle at Baker Hughes lies in the international markets. As I noted last week, the company has teamed up with CGGVeritaz (NYSE: CGG ) to add substantial seismic capabilities to its global repertoire. Further, it's working with Norway's Statoil (NYSE: STO ) on new projects in the North Sea, the Norwegian Sea, and the Barents Sea. It's also been contracted by Chevron (NYSE: CVX ) for work on the giant Gorgon project in Australia, and its gearing up with Russia's Lukoil and Statoil on the West Qurna-2 oil fields in Iraq.
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