$7million market cap--> bas exposure, page-21

re: one to watch **** oil over $55 If you bought VCR on the 7c of September, you would have lost at least 15c.

If you would have bought MOG on 7c of September, you would have made 10c almost doubling you money.

Sounds like you need to go back to VCR you understand it more hehehhehe


Here is a hint...here comes winter

http://news.yahoo.com/news?tmpl=story&u=/ap/20041026/ap_on_bi_ge/oil_prices_38
Business - AP


Oil Futures Surpass $55 a Barrel Again

1 hour, 11 minutes ago Business - AP


By BRAD FOSS, AP Business Writer

Oil futures surpassed $55 a barrel again on Tuesday as traders focused on the government's upcoming petroleum supply report, which is expected to show only a modest build in heating oil inventories.


AP Photo

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Crude for December delivery settled 63 cents higher at $55.17 a barrel on the New York Mercantile Exchange, matching the record closing price set Oct. 22 and rising from an intraday low of $53.85. November heating oil was up 0.28 cent at $1.5681 per gallon.


Traders were cautious ahead of Wednesday's scheduled release of U.S. petroleum supply crude data, which has shown five weeks of falling inventories of distillate fuel, which includes heating oil. Analysts said Tuesday's late-day oil-price surge was also the result of a rally in natural gas futures.


Natural gas for November delivery surged 51.2 cents to settle at $8.402 per 1,000 cubic feet. Natural gas futures are now about 84 percent higher than a year ago, even though analysts agree that supplies of this mostly-domestic fuel are ample.


"The buying is feeding on itself," said John Kilduff, senior analyst at Fimat USA in New York.


While crude futures prices are more than 80 percent higher than a year ago, they would need to reach $80 per barrel in order to surpass the all-time peak, in inflation-adjusted terms, set in February 1981.


Even if that record is not breached, Chuck Hackett, a broker at Access Futures & Options Trading of Woodlake, Calif., believes the market is likely to make a significant advance before retreating beneath the $50-a-barrel level. He described a "chain reaction that gets started, where fear and greed have a climax."


Crude oil price increases in the past month have primarily been due to the slow pace of recovery in the Gulf of Mexico, where Hurricane Ivan damaged rigs and pipelines from Louisiana to Texas and forced many to close from mid-September. More than 25 million barrels of production have been lost since Ivan hit, while 103.2 billion cubic feet of natural gas output was lost.


About 426,000 barrels of crude and 1.5 billion cubic feet of natural gas remain shut in daily in the Gulf of Mexico, the U.S. federal Minerals Management Service said on its Web site.


Unrest in key producers Russia, Nigeria, Iraq (news - web sites), Saudi Arabia and Venezuela have also fueled the rise in crude prices in recent months, which is underlined by limited excess capacity. It hovers about 1 percent above the world's daily consumption of 82.4 million barrels per day, leaving little wiggle room if there is a production outage.


Prices eased Monday, and much of Tuesday, after Oslo ordered striking oil workers back on the job, and the Norwegian Shipowners Association withdrew its threat to lock out more oil and gas rig workers. Norway has average production of about 3.2 million barrels a day, behind only Saudi Arabia and Russia.


In Nigeria, the world's seventh largest exporter, the main labor union met to decide whether to renew a general strike to reverse a fuel hike that could extend to its oil union.


Speaking during a break in the meeting, Adams Oshiomhole, president of the Nigeria Labor Congress, said the "if, when and how" of any possible strike action would be announced at a press conference in Abuja on Wednesday.


The strike earlier this month crippled business throughout Africa's largest oil exporter and threatened to put a halt to supply flow from the Niger Delta oil fields — the fifth largest source of U.S. crude.


In other Nymex trading, November gasoline futures closed at $1.4125 per gallon, an increase of 1.5 cent.


In London, December Brent crude finished 78 cents higher at $51.56 per barrel on the International Petroleum Exchange.


___





Associated Press Writers Jane Wardell in London and Yeoh En-Lai in Singapore contributed to this report.