LUP data by YCharts Lundin Petroleum (LUP:TSX) the 40% operator of the massive Johan Sverdrup oil field and their partners (40% Statoil, 20% Maersk Oil) have announced development plans. Johan Sverdrup has between 1.8 to 2.9 billion barrels of gross recoverable contingent resources making it one of Norway’s largest oil discoveries. At full field production, the group… Continue Reading
Lundin Petroleum (LUP:TSX) released their fiscal 2013 numbers (although production was pre-released on January 21st) which saw them produce an average of 32,700 boe/d in the year and make $975.6 million operating cash flow on $1.2 billion of revenue. However, EBITDA fell from $1.14 billion in 2012 to $960.9-million this year. Q4 EBITDA fell below… Continue Reading
Norway’s largest domestic non-state owned oil producer, Lundin Petroleum (LUP:TSX) announced fourth quarter and full year 2013 production results today. The company produced an average of 31,100boe/d in the fourth quarter and 32,700boe/d for the full year average. In the fourth quarter, Lundin Petroleum received an average price per barrel of US$109. This remains a… Continue Reading
This morning, Norway’s largest oil producer, Lundin Petroleum (LUP:TSX, LUPE:ST) announced its capital allocation for 2014 and its a staggering $2.1 billion. Projected expenditures on development projects in 2014 are expected to grow by 25% over the 2013 to $1.4 billion. The company expects to spend roughly the same this year as they did last year on exploration which is… Continue Reading
Not all metals and sectors have the same catalysts; so, to not miss mining opportunities in 2014, we must understand which metals/minerals will face supply gluts, difficulty financing and a lack of investor interest, and avoid them. On the flip side, we must be aware of exactly which metals/minerals are facing imminent supply deficits, because… Continue Reading
In September 2010, Lundin Petroleum (LUP:TSX) announced the largest ever oil discovery made in the Norwegian shelf; the Johan Sverdrup discovery. It is estimated to hold a staggering 3.6 billion barrels of oil. The discovery covers an area of approximately 180 km² in blocks 16/2, 16/3 and 16/5 on the Utsira High in the central part… Continue Reading
Shares in Dalradian Resources (DNA.TO) have traded up 37.3% since an August 15th news release announcing exploration results at the company’s 100% owned Curraghinalt gold project in Northern Ireland. You can view the results here. Curraghinalt is a potentially high-margin, low-capex project with impressive grades of gold. Receiving a favorable outlook in its 2012 PEA,… Continue Reading
“One drill hole changes the game. It’s very hard to decide who gets to make it and who doesn’t. It’s a big gate, and yet very few make it through. But you have to let them try.” — Lukas Lundin “Did you know you were getting the better end of that deal with Kinross?” I… Continue Reading
Goldman: The Economic Crisis Ends In 2013. Business Insider Popular Delusions: The bull case for safe havens. The Big Picture Of warplanes, the homeless, teachers’ unions, oil, drugs, immigration and monetary policy. National Post Norway Wealth Fund to Spend $11B Adding U.S. Real Estate. Bloomberg Could Fine Art And Collectibles Become A New Asset Class? Forbes The… Continue Reading
Happy Halloween… Berkshire Extends Housing Bet With Brookfield Venture. Bloomberg Norway Oil Fund Looks Into Factor Risk Model Embraced by Pimco. Bloomberg Centamin’s licence for flagship Sukari mine revoked by Egyptian court. Financial Post Is India’s Rising Billionaire Wealth Bad for the Country? NYTimes Ortega Tops Buffett With Zara Fortune of $53.6 Billion. Bloomberg Gary Shilling: Who Loses When Fed Keeps… Continue Reading
“The easiest way to get people to do what you want them to do… is to start with people who want what you want.” Seth’s blog Koch Sued by Executive Claiming He Was Held Captive. Bloomberg Michael Belkin Predicts 40% Stock Market Drop. Ritholtz via WSJ Robert Friedland’s Ivanplats to raise $300-million at $4.75 a share. Globe and Mail also: Ivanplats IPO… Continue Reading
“The only way to make money is if other people agree with your thesis.” O.T. Xstrata Backs Glencore Bid With Board Assurance, Vote Change. Bloomberg Presenting Apple Inc.’s Braeburn: The World’s Largest Hedge Fund. ZeroHedge Blackstone’s Schwarzman: Alignment of interests is ‘off the table’. Pensions & Investments Norway’s Wealth Fund Targets U.S. Real Estate. Bloomberg Why do… Continue Reading
Here’s what I took away from the headlines this morning: Barrick in talks to sell Africa stake to China Gold. See also – why? and Gold expected to pull out of slump. Globe and Mail 5 Founders Who Came Back to Rescue Their Companies. Fiscal Times
“We’re clean but we’re dirty-clean, rather than clean-clean,” a Barclays executive said. The British, at Least, Are Getting Tough. NYTimes A Gold Rush in the Abyss. Some mainstream attention for marine mineral exploration. NYTimes HDI CEO Ron Thiessen sees copper shortages hampering industrial growth in annual letter. HDI Gold will taking ever more buying by the official sector to keep prices… Continue Reading
Unions threaten to shut down the Norwegian’s golden goose. Globe and Mail Josh likes stocks for the second half. Reformed Broker QE1-2 Operation Twist(s) Market Impact. The Big Picture Barkerville (BGM.v) and the burden of proof (from IKN166). Inca Kola News How self promoting recruiters assess the value of an MBA. Business Insider Visuals: how mining drills… Continue Reading
