Wednesday, April 30, 2014

Cenovus Energy Inc. - CVE.t

Cenovus Energy Inc. - CVE.t operates two producing steam-assisted gravity drainage (SAGD) projects in the oil sands – Foster Creek and Christina Lake – as well as several emerging projects, which are in various stages of development.

Foster Creek and Christina Lake are 50 percent owned by ConocoPhillips. The company also produces heavy oil from the mobile Wabiskaw formation at Pelican Lake. Cenovus has a 50 percent interest in their Wood River (Illinois) and Borger (Texas) refineries which Phillips 66 operates.

On April 30, 2014 the company released Numbers

"Cenovus oil sands production climbs 20% in first quarter

• Combined oil sands production at Foster Creek and Christina Lake averaged 120,444 barrels per day (bbls/d) net in the first quarter, up 20% from a year earlier.
• Production at Christina Lake averaged 65,738 bbls/d net in the first quarter, an increase of 48% when compared with the same period a year earlier as phase E approached full production capacity.
• Foster Creek performed at the upper end of Cenovus’s expected production range, averaging 54,706 bbls/d net in the quarter, a slight decrease from the same period a year earlier.
• Cenovus generated nearly $1.2 billion in operating cash flow, a 4% decrease when compared with the same period in 2013, as rising production and higher commodity prices were offset by significantly lower refining margins.
• Cenovus received regulatory approval for its 180,000 bbls/d wholly-owned Grand Rapids oil sands project and plans to move forward with an initial phase of 8,000 to 10,000 bbls/d."



Friday, April 25, 2014

Gear Energy Ltd. - GXE.t

Gear Energy Ltd. - GXE.t operates the heavy oil producing areas of Wildmere, Blackfoot and Vermillion.

Heavy oil production in the Maidstone area of Saskatchewan began in 2013

On April 24, 2014 the company released News

" Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) is pleased to announce today that it has entered into an agreement to acquire (the "Acquisition") heavy oil assets focused near the Company's core producing areas of Wildmere, Alberta and Maidstone, Saskatchewan (the "Assets").

The Assets include over 2,000 boe per day of high working interest, operated heavy gravity crude oil production (98 percent oil). The purchase price for the Assets is $85 million, payable in cash. The effective date of the Acquisition is March 1, 2014 and the closing of the Acquisition is expected to occur on or about May 1, 2014 (the "Closing").

The Assets fit Gear’s strategy of targeting underexploited, geographically focused production with low risk development locations and simple solutions to increase production value by lowering operating costs. The Assets all produce from heavy oil reservoirs analogous to those that the Gear team have been successfully developing in the area for the past four years.



Monday, April 21, 2014

Christie's Spring Magnificent Jewels in New York

Christie's Magnificent Jewels auction held in New York achieved $60.55 million in total, the highest-ever for a jewellery sale at the auction house’s New York division.

One of the auction’s highlights was a 61.35-carat emerald and diamond ring. The ring fetched more than $4.64 million, far surpassing its original estimate of $1 million to $1.5 million. .

Egyptian revival faience and jewelled brooch Cartier, London 1923.
A 24.48-carat, D colour, VS1 clarity, emerald-cut diamond ring from the Distinguished Family Collection sold for more than $3.3 million.

A 40.43-carat, D, potentially flawless, oval-cut diamond brought $7.7 million.
The next big diamond and jewelry auction to be held by Christie's will be in Geneva on May 14 where it will offer 'The Blue', the largest flawless vivid blue diamond in the world, and 'The Ocean Dream', the largest vivid blue-green diamond in the world.

See ----->

Saturday, April 19, 2014

Mystery of the missing Gods

The eerie quiet of a tumbled ruin: Brihadeeswara temple.
A man-sized stone warrior guards the doorway, half-sunk in sand. Hundreds of bats whirl overhead, shrieking at the intrusion. Exposed beams, textured by time and mould, add to the musty smell in the air. Cobwebs on prayer lamps enhance the sense of abandonment. The altar is stripped bare, like a frame without a picture: It's a temple without a god. The 1,000-year-old guardian of the temple, Shiva Nataraja, is missing from his abode.
The Lord of Cosmic Dance has travelled 9,000 km to the National Gallery of Art in Canberra, Australia. How did he get there? Ask Subhash Kapoor, 65, a New Delhi-born and New York-based antiquity dealer, considered an art connoisseur as well as one of the biggest idol smugglers in the world.

He sold the Nataraja to NGA for Rs.31 crore in 2008.
Kapoor is suspected of stealing over 150 idols worth $100 million from India. The missing god is at the centre of a curious trial that has just started in a district court in Tamil Nadu.

"Art and antiquity theft is one of the most lucrative crimes," says IPS officer Prateep V. Philip, director general, EOW, in Chennai. "It outbids drug trafficking, arms dealing, and money laundering." The odds of recovering stolen treasures are abysmal, one in ten. But in this case, authorities managed to trace the idols stolen from Sripuranthan and the nearby village of Suthamalli to various museums and galleries across the world.

The statue of a Dancing Shiva was bought by the National Gallery of Australia from Subhash Kapoor in 2008 for $5.1 million.
Six of the 28 gods have already been identified in museums and private collections across the world: Canberra, New South Wales, Chicago, Ohio to Singapore. The Australian government has ordered NGA to remove the Nataraja from display.