OIL and GOLD CLOSE Summary: January 22, 2010
Crude futures retreated with the equities market Friday, as commodities traders continued to show concern over China’s attempts to curb lending. In addition, the oil pits remained shaken after Thursday’s inventories report, which indicated that domestic gasoline stockpiles jumped to a two-year high last week. By the close, March-dated crude gave up $1.54, or [...]
Crude Oil, Gold, and USD$ – Support and Resistance
Crude Oil:
Crude Oil nearest futures contract price rose above the highs of the previous 4 weeks on 12/30/09, confirming that the short-term trend is bullish. Still, there might be significant resistance overhead. Oil is above both 50- and 200-day simple moving averages, which are rising. Support 77.76 and 76.19. Resistance 80.40 and 81.06.
Gold:
Gold nearest futures [...]
TAG Provides Resource Assessment on Winchester Permit
VANCOUVER, Dec. 21 /CNW/ – TAG Oil Ltd. (TSX-V: TAO – News) advises that the Company has completed an internal Resource Assessment on the Company’s 100% controlled Winchester exploration permit PEP 38748, located in the onshore Taranaki basin, New Zealand. TAG’s internal qualified reserves evaluator prepared the resource assessment in accordance with National Instrument 51-101.
The [...]
Tag Oil – Trading Update
TAG Oil ended a volatile week of trading and closed at $2.45 on volume of 263,000 shares. Today’s close saw a gain for the week of $0.85 [+53%] and a strong volume for the week as we saw 1,165,000 shares changing hands.
I anticipate next week will see further profit taking and perhaps some retracing of [...]
Thursday December 17, TAG OIL UPDATE
After the market closed yesterday, Wednesday, December 16, I stated:
“Great press release from TAG OIL this morning resulted in a huge move today. As you can see from the chart Tag Oil closed up $0.46 today to close at the high of the day at $1.99 on significant volume of over 274,000 shares.
I would [...]
Tag Oil – Updated Chart
Great press release from TAG OIL this morning resulted in a huge move today. As you can see from the chart Tag Oil closed up $0.46 today to close at the high of the day at $1.99 on significant volume of over 274,000 shares.
I would expect some further bullish activity early in tomorrow’s trading [...]
TAG closes acquisition of Trans-Orient, gaining 100% control of world-class oil shale prospects
This merger represents a pooling of financial resources, production, appraisal, development and high-impact exploration.
VANCOUVER, Dec. 16 /CNW/ – Mr. Garth Johnson, Chief Executive Officer of TAG Oil Ltd. (TSX-V: TAO – News) announced today that the Company has completed its merger with Trans-Orient Petroleum Ltd., which holds exploration and production rights covering a large, [...]
