- TPLM: up 2%
- HK: up almost 10%
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Samson Oil & Gas provides update on the process of selling its interests in the Rennerfeldt 1-13-H : Samson advises that it is in the process of selling its interests in the Rennerfeldt 1-13-H and the Rennerfeldt 2-13H well bores for a net $200,000 over the costs incurred to date. Samson's decision is based upon its technical review of the production performance of the middle Bakken wells in and adjacent to the North Stockyard project. This review led Samson to conclude that there is a correlation between lateral length, number of frac stages, proppant volume placed and both the production performance and ultimate recoverable reserves. The sale does not include any acreage.
- Samson's assessment of these two wells does not indicate a correspondingly critical assessment of other wells in the North Stockyard Project. The technical difficulty with the Rennerfeldt wells is that they have a restricted lateral length (3,600 to 3,700 feet) due to their geographic location and thus are not as long as the other North Stockyard Field wells.
- In addition, the Rennerfeldt wells were designed with 15 sliding sleeve frac stages and to place 1.5 million pounds proppant. Accordingly Samson is of the view that this design puts the investment opportunity in these wells at a disadvantage by comparison to the two Matilda Bay wells and the eight Three Forks wells that are planned in the next phase of the development of North Stockyard.
- Co announced that it expects to recognize a gain on its investment in Caliber Midstream Partners for fiscal year 2014, that it has rescheduled its fourth quarter and full fiscal year 2014 financial and operational results conference call to Thursday, April 17, 2014 at 8:30 AM MT (10:30 AM ET), and that it intends to file its fiscal year 2014 Annual Report on Form 10-K with the SEC on Wednesday, April 16, 2014.
- During preparation of its fiscal year 2014 audited financial statements, the co concluded, after consultation with KPMG LLP, the co's independent auditor, that it should recognize a gain in fiscal year 2014 on the fair value of the co's trigger units, trigger unit warrants, and warrants in Caliber, the co's midstream services JV. The gain recognition results from the classification of the trigger units, trigger unit warrants, and warrants as equity investment derivatives, which are revalued periodically in accordance with U.S. generally accepted accounting principles. The co expects to recognize a non-cash, pre-tax gain and an increase in Triangle's equity investment in Caliber of ~ $39.7 mln for fiscal year 2014. The co also plans to file restated financial statements with the SEC under the cover of Form 10-Q/A for the third quarter of fiscal year 2014 (period ended October 31, 2013) to recognize the portion of the associated gain attributable to that period.
Speaking of taxes? All those whiners complaining about American companies re-locating overseas to save on taxes. I have not problem with that -- international/global companies should relocate if it makes sense overall. The Financial Times is reporting that Walgreens is coming under pressure to do just that -- to relocate to Europe:
Walgreens has come under pressure from an influential group of its shareholders, who want the US pharmacy chain to consider relocating to Europe, in what would be one of the largest tax inversions ever attempted.
At a private meeting in Paris on Friday, investors owning close to 5 per cent of Walgreens’ shares lobbied the company’s management to use its $16bn takeover of Swiss-based Alliance Boots to re-domicile its tax base.
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Cosmos
I believe last night was the fifth episode of "Cosmos." The two granddaughters come over every Sunday night, 8:00 p.m. to 9:00 p.m. to watch "Cosmos" with me. I am really impressed how both the 7-year-old and the 10-year-old stay engaged. The younger one sketches while the older one follows the narrative, very closely.
Last night, she was just seconds ahead of the narrative (and way ahead of me) explaining why neutrinos reach the earth sooner than photons when a supernova explodes. Recall that nothing can go faster than photons, which begs the question: how do neutrinos get to the earth first? Just seconds before the narrator explained the answer, the older granddaughter saw the answer. I was quite impressed. I had not even caught it.
During the program, the narrator asked the question, "what held the protons together in the nucleus?" He said it was the neutrons. That did not make sense to me. So today, looking up the answer on the internet. I thought it was the strong force, gluons, etc, and did not understand what role the neutrons might play in holding the protons together in the nucleus.
Yes, at the link, it is the strong force, carried by gluons, that hold the protons together. So, how are neutrons involved? From the link:
These experiments indicated that the strong nuclear force is short ranged but has a repulsive core. When the nucleons are less than 0.5 fm (10^-15 m) apart they do not 'feel' the strong nuclear force. This facet of a repulsive core is, sometimes, referred to as 'asymptotic freedom'. Because of these 'outer' and 'inner' aspects of the strong nuclear force, the nucleons tend to remain at an average distance from each other (here protons and neutrons have been referred to as nucleons). This spacing of the nucleons leads to a saturation of the strong nuclear force, which depends upon the number of nucleons present and, thus, the mass number A.So, protons would be repulsed by the strong nuclear force if they come too close together. What maintains their separation? Again, from the link:
The protons are charged, and they do repel one another. However, neutrons, which have 0 net charge fills a space in between the protons and allows them to be less repulsive, much like having an object between two similar poles of two magnets.So, that helps.
On another note, a most fascinating organism is the "water bear," the tardigrade. Our older granddaughter knows all about the tardigrade, and recognizes it immediately. It's kind of funny how often it shows up on "Cosmos." It was made the episode last night. I remarked to Arianna that I had never heard of the "water bear" until she mentioned it to me, and I had seen it on "Cosmos." How did that happen? How did I miss it all these years? They've been known for years; I don't even recall Dawkins mentioning them in his opus The Ancestor's Tale.