Ölsand - Aktien , Ölsand

Bin heute raus aus meiner Position, hat nur Liquiditätsgründe. Hoffe ich verpass den Zug nicht, Edel sag bescheid ;). Ich bleib aber am Ball.

Grüße

Wie schon vor längerer Zeit erwähnt (siehe Beitrag 18.07.07)

Grüße

Alberta should hike oil sands royalties: report

KATHERINE HARDING and DAVID EBNER

Tuesday, September 18, 2007

Edmonton — Albertans are not receiving “their fair share” from the province's energy industry and the government must significantly hike royalties in the oil sands, according to a much-anticipated report released Tuesday afternoon.

“Albertans do not receive their fair share from energy development and they have not, in fact, been receiving their fair share for some time,” said Bill Hunter, chair of the six-person expert panel that wrote the surprisingly blunt report that investigated whether the debt-free province was receiving adequate oil and natural gas revenues.

The panel found that the government's royalty tax take “ranks very low” against competing jurisdictions, especially in the oil sands arena. It recommended that royalties and taxes be raised by around $2-billion a year, a 20 per cent increase.

In recent weeks, various warnings have been issued from oil patch executives against the provincial government tinkering with the royalty restructure, which hasn't been updated since the mid-1990's.

The Progressive Conservative government is expected to provide a formal response to the 104-page report by mid-October. In 2006-07, Alberta collected $10-billion in energy royalties.

“Albertans made it clear that examining the province's royalty regime was a priority to ensure they are receiving their fair share from energy resource development,” said Premier Ed Stelmach. “Albertans, as owners of the resource, now have the opportunity to examine the details of this report as government thoroughly reviews the recommendations.”

The royalty review process started in February when Mr. Stelmach's government appointed the panel, which included experts in resource taxation and the royalty system. The panel held five public meetings across the province and received 300 submissions.

The panel concluded that it's fair to hike royalties for oil sands projects because the area is a “production powerhouse.” It is also recommending businesses operating in the oil sands pay a new tax.

It rejected essential industry arguments that higher costs, which have plagued all oil sands projects, are a reason to keep royalties the same.

Mr. Hunter has urged the government against grand-fathering in any hikes “on the grounds of fair treatment for all participants.”

The panel has asked the government not to increase more than half of convention oil and gas royalties on the grounds that this sector of the industry is on the decline.

Mr. Hunter said that during the review process, the panel found the province's royalty regime was complex and “almost impossible to follow.” The panel also discovered that government bureaucrats couldn't answer many questions because “useful information is not adequately collected in the first place.”

The panel is recommending in the “strongest possible terms” an accountability package that forces both industry and government to regularly publish data about the energy industry.

Mr. Hunter estimated that the Alberta government has been missing out on more than $1-billion annually from royalties they were entitled to.

The report is being released at a time when the Progressive Conservatives and its new leader, Mr. Stelmach, are struggling in the public opinion polls.

Political observers are closely watching how the 36-year-old government handles this delicate file.

Faron Ellis, political scientist at Lethbridge College, said it's unlikely that Mr. Stelmach will do anything dramatic because it's not his political style. “He does his homework. He's not Ralph Klein…The ‘Steady Eddie' approach demonstrates that he has no intention of being Ralph Klein.”

Prof. Ellis also said he hasn't seen a huge public appetite in Alberta to dramatically reform the royalty regime to get a lot more money from the oil patch.

Alberta Liberal Leader Kevin Taft disagrees.

“There's a genuine interest at street level amongst citizens about this issue,” he said in an interview. “There's a mood out there as the owners of the resource that they aren't getting a fair share.” The Liberals want the government to collect up to 25 per cent of total value in royalties.

He said this is a “big issue” for Alberta and a major moment for the Stelmach government, which has “struggled to be decisive on virtually everything it has faced.

“It's very, very important for the government to handle this one effectively,” Mr. Taft said. “It's much more important to them than us in a way. You've seen their [polling] numbers.”

A quick look at Alberta's current energy royalty system:

History: Concept of royalties dates back centuries. They are a way for the owner of a resource to exact a payment from the person developing that resource. What the specific rate should be is the tricky part.

Government Revenues: Energy sector paid Alberta government about $10-billion in royalties in fiscal 2005-06, not including lease sales. Industry says royalty-related revenues account for 40 per cent of total provincial revenues.

Lease sales: Companies bid against competitors for right to explore and develop oil and gas on parcels of land. These fees, paid whether energy reserves are found or not, generated a further $2.4-billion in provincial revenues last year.

Provincial royalty goal: Fluctuated over the years, but currently sits between 20-25 per cent of total energy industry revenues. Critics charge current take is below 20 per cent and far less than other producing jurisdictions, including Texas and Norway.

Conventional oil and gas: Production-based royalty paid on a sliding scale based on price and productivity per well. Formula enables government to get a higher take if well is more prolific than expected or if price rises significantly. Industry says producers are left to shoulder any unexpected higher costs.

Oilsands: Companies pay just 1 per cent of gross revenues until all project construction costs are recouped, then the rate climbs to 25 per cent of revenues, minus costs. Industry says that when federal and provincial income taxes added, the share of revenues between government and industry is close to 50-50.

Other provinces: In Saskatchewan, oil and gas royalties and taxes are forecast to top more than $1.2-billion, or about 17 per cent of total provincial revenues. Like Alberta, royalties are collected on a sliding scale based on the age of the wells, quality of oil, etc. In Newfoundland, royalty rates differ on the three producing offshore oil projects. The province also recently announced small equity stakes in the latest offshore project, Hebron, as well as the White Rose expansion.

Link

Bin wieder in Oil/Gas , Enery Trusts und Kohle mit einen Teil, lets try this again mit dem neuen mix an Aktien.

Mit den Coupons ist mein Mittagsessen schon bezahlt jeden Tag.

MNE.L VET-UN.TO TET-UN.TO TDG-UN.TO PWT-UN.TO PVE-UN.TO PGX-UN.TO HTE-UN.TO GZM-UN.TO FEL-UN.TO ERF-UN.TO CPG-UN.TO COS-UN.TO CNE-UN.TO BTE-UN.TO BNP-UN.TO ALA-UN.TO AET-UN.TO AVN-UN.TO CNQ.TO SU.TO HSE.TO WTO.TO PGH LNG NBL ECA COP TLM BQI BTU MEE ACI

von ATH zu ATH, aktuelle Haywood-Studie, neues Kursziel 61 CAD$

http://www.haywood.com/pdffiles/PBGNov22007.pdf

Grüße

Canaccord Late Edition:

With Ed Stelmach becoming the Hugo Chavez of the
North Country, he’s obviously not helping Alberta but he
could be helping Saskatchewan become the promised land
of Western Canada. In a very interesting research report
by analyst Phil Skolnick of Genuity Capital he does a feature
piece on Oilsands Quest and featured an interesting
report headlined “Revealing the Saskatchewan Advantage.”
Skolnick writes “we ran an NPV analysis to demonstrate
the potential economic advantage that a generic SAGD
project in Saskatchewan could have over one in Alberta.”
The answer: “the estimated NPV appears to be roughly 25-
35% greater than the NPV for a project in Alberta. This
bullish data point supports our thesis that BQI’s high exposure
in Saskatchewan is a key advantage for valuation and
joint venture potential and (possible takeout potential)
given the more favorable royalty regime that exists in Saskatchewan.”
He continues, “we reiterated our BUY rating
with a $7.50 price target.”
Which realistically isn’t that much higher than it currently
is. In the report introduction he writes, “because
actual project details are still unknown as a potential recovery
methods, etc. are still being examined, our analysis
assumes a generic 30-year, 30 MBbl/d non-upgraded SAGD
project that costs $35,000 per Bbl/d and commences production
in 2012.” They also continue “our analysis assumes
SAGD technology is used. However, BQI is examining
the use of derivatives of exiting in-situ methods that
use solvents. Accordingly, various labs are testing multiple
potential recovery methods. As a reminder, early lab
tests have shown that hot water (wet steam) recovery processes
in a low pressure/temperature environment are yielding
a recovery of 54-83% (versus 35-55% for high pressure
SAGD). The upside potential to recovery rates from wet
steam could suggest enhanced economics if it results in
higher production rates and lower unit capital cost. This is
not assumed in our analysis.” “BQI still needs to field test
any recovery methods for first half of ‘08.”
Then they get to the bottom line “what about the new
Premier and royalties?,” as Saskatchewan just elected
Brad Wall of the Saskatchewan party, as the new Premier
and they have a majority government. Skolnick writes “we
had a discussion yesterday with the newly elected government
and were told that there are no plans for a royalty
review and the government plans to look at key sectors of
the economy, including energy, to hopefully reduce/
remove barriers to grow.”
Two provinces going two very different ways.

Grüße

Danke für den Link! Ja, wer hätte das gedacht, hab zu 33 CAD$ verkauft (+84%), weil ich Geld für geprügelten Aktien im August brauchte und wollte sie dann wieder einsammeln....Also bei einer Korrektur bin ich wieder dabei.

Grüße

Ja die Petrobank, die einzige Bank die gut laeuft.
Leider nicht mehr im Depot...
Zu dem Preis ist sie mir nun zu teuer.

Cheers

XEX

The Epic Battle over Crude Oil and the US$

http://news.goldseek.com/GoldSeek/1196365840.php

Solange es genügend Kohle gibt, verweise ich einen Ölpreis von mehr als 150$ (nach Preisen von 2008) ins Reich der Märchen, ein solcher Schwachsinn dient mal wieder wie alles von offizieller Seite nur der Panikmache!

bei einem Preis von 150$ wird Kohleverflüssigung zum Topgeschäft, deshalb glaube ich auch, dass die Amis, wenn bei denen 1+1 nicht 5 gibt sich recht schnell wieder Ölautark machen und dann siehts schlecht aus für uns Europäer.....

Mein Topfavorit war ist und bleibt meine geliebte Suncor, seit mehr als 10 Jahren! (eigene förderfähige Vorräte - nach heutiger Technik- bis 2084)

Sadaukar,

Sprüche à la "Kohleverflüssigung wird zum Topgeschäft" haben wir zB bezogen auf die kanadischen Ölsande schon ab 25$/barrel Öl gehört. Und in der Tat geschieht in CAN ja auch was. Nur BEI WEITEM (!!) nicht so viel, wie man erwartet hatte. Bislang bewegt sich das im Bereich 3-5 mbpd (bei 86mbpd Ölförderung), obwohl wir mittlerweile fast 300% über dem angeblichen Amortisationspreis von 25$/bl liegen!

Nicht vergessen sollte man auch, dass UNMENGEN (!) Wasser und richtig viel umweltschädlicher Säure bei der Ölgewinnung aus Ölsanden benötigt werden. Zudem auch noch der (meist über Erdgas befriedigte ) Energiebedarf bei der Umwandlung zu Öl!!

Vermutlich hast Du 100$ Öl Anfang 2007 (als wir bei 50$ waren) ebenso als Panikmache bezeichnet. "Ölautarke Amerikaner" - das ist einfach lächerlich bei einem Ölpeak der USA, das 1970/71 erreicht wurde, bei 22 bl Verbrauch pro US-Kopf und Jahr, bei all den Kriegen, die die USA ums Öl führen, bei Sprüchen wie "How did our oil get under their [Länder des Nahen Ostens] sand?" !

Get real - peak oil ist es auch. http://www.goldseiten.de/conte…/artikel.php?storyid=6235

Übrigens: Weißt Du, wieviel Erdgas man bei der Kohleverflüssigung einsetzen muss? Auch die wird ab vielleicht $300 kommen (die Technik dazu ist von den Deutschen schon vor dem II. WK entwickelt worden - ölautark wurde dadurch nicht mal Hitler, der es UNBEDINGT werden wollte). Vorher nicht. Und selbst DANN wird Kohlesprit Erdöl nicht vollumfänglich substituieren können.

Got oil?

Wieder in SSL eingestiegen, ebenso zwei ETF's .. IEZ und IEO weil bei CNBC nun Oil weiter fallen wird.

Oilsand habe ich genug, auch COP TLM UPL OXY DVN BHI BQI nachgeladen bei der Chart.

Cheers..sooner or later 120 $ Oil und 2 Euro der Liter Benzin.

Lass es kurz fallen....so what !

XEX

Oh, noch vergessen, wer an Oilsand glaubt der beachtet ENB.TO....the pipeline.

Vor Jahren sagte einer die Oilsandaktien werden 3 - 5 fach ansteigen bis 2011/2012

Mal schaun...