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Tuesday, January 10, 2006

CNOOC:"It's a good deal,"


Yesterday, I reported the most cheering good news of the New Year in Nigeria, the $2.3B CNOOC is investing in the oil industry in Nigeria. The Washington Post has a very comprehensive report on it. The analysis of the investment by Peter S. Goodman and Justin Blum is worth reading and documenting. Because they included very important details of the energy crisis in the world caused by the war in Iraq and the desperation for more energy in America, Europe and Asia.

Saad Rahim, an analyst at PFC Energy, a Washington-based consulting firm says international oil companies think CNOOC is overpaying for the Nigerian oil field that has estimated proven reserves of over 620 million barrels of oil and about 3.75 trillion cubic feet of natural gas.


"If you're talking to one of the international oil companies, they view that as an overpayment," said Rahim. "But for the Chinese companies, because they've been tasked by the government to go out and get as much oil as they can, then the $2 billion isn't an overpayment in their eyes."


But Xiao, the Cnooc spokesman, does not think so.

"It's a good deal," Xiao said. "It adds to our reserves, and we paid an attractive price."

Monday, January 9, 2006

BREAKING NEWS:CNOOC Limited acquires 45 % stake in offshore Nigerian oil


When the Chinese multinational oil company CNOOC lost in their bid for Unocal of America, I said they should come to Nigeria and invest in the most lucrative oil industry in the world. And the good news on the BBC that CNOOC is coming to do exactly what I said is music to my ears. And the best signals of the good things God has in store for Nigeria this year. But, the BBC did not give the details.

I have already confirmed this from CNOOC Ltd that indeed CNOOC Limited has acquired 45 % stake in offshore Nigerian oil mining license 130 for US $2.268 billion cash.

Commenting on the acquisition, Chairman and Chief Executive, Fu Chengyu said: “The purchase of this interest in OML 130 helps CNOOC gain access to an oil and gas field of huge interest and upside potential, located in one of the world’s largest oil and gas basins. With one of the leading deep water experts as the operator of the field, we have every confidence for the fast and efficient production of oil.”

He also commented: “This transaction is perfectly aligned with CNOOC’s long term strategy of achieving growth through the exploration and development of offshore fields and achieving geographic diversification of the company’s portfolio."

The transaction is expected to close in the first half of 2006, and is conditional on, amongst others, Nigerian National Petroleum Corporation (“NNPC”) and Chinese government approval.



CNOOC's Pinghu Gas Field

I have already written CNNOC to welcome them to Nigeria. This is breaking news and Nigerian Times is the first to report the news in details of the transaction.


Conference Call Information:

6p.m. HKT Investor and Analyst Call
CNOOC Limited will host a conference call on January 9, 2006 at 6p.m. HKT to discuss the transaction. The slides will be available on CNOOC Limited’s website. To access this conference call, please use the following numbers:

Hong Kong: 3005 2050
China – Netcom*: 10 800 852 1179
China – Telecom*: 10 800 152 1179
Singapore: 800 852 3576
United States: 1 866 549 1292
International: 852 3005 2050

Passcode 425978#

6.45p.m. HKT Media Call
A conference call for media will be held today at 6.45p.m. on the following numbers:

Hong Kong: 3005 2050
China – Netcom*: 10 800 852 1179
China – Telecom*: 10 800 152 1179
Singapore: 800 852 3576
United States: 1 866 549 1292
International: 852 3005 2050

Passcode 260291#

*Dependent on telephone service provider in China: China Netcom or China Telecom.

More information about the transaction can be found through CNOOC Limited's website (www.cnoocltd.com).

Thursday, January 5, 2006

BIOFUEL: The Future Begins Today

SHELL GAS PLANTS ON BONNY ISLAND IN NIGERIA.

CONSOLIDATED BIOFUELS INC(CBIO)
NEW FEATURED COMPANY

Consolidated Biofuels, Inc (OTC: CBIO)

CURRENTLY: $0.335 up 20%

RECENTLY: $0.55

We are putting READERS on HIGH_ALERT, put your sights on CBIO.Watch This one WEDNESDAY!!..
Trading at ONLY a QUARTER the gains could be Huge! * Act Now *
This one is poised for a HUGE BREAK OUT, because of the low price, and recent news. CBIO could be one of the 500_%_gainers !!!

This is just the start of a very aggressive IR campaign, we are told there are lots and lots of juicy news coming on this exciting company.

CONSOLIDATED BIOFUELS (OTC: CBIO) JOINS A MULTI BILLION $$$$$$$ INDUSTRY:

YOU TOO CAN BECOME INVOLVED.
IN A BILLION $$$$$ INDUSTRY IF CONSOLIDATED BIOFUELS (OTC: CBIO). CAPTURES 1% OF THE MARKET IT COULD POTENTIALLY MEAN TENS OF MILLIONS OF $$$$$$$ TO THE BOTTOM LINE.

The United States consumes approximately 20 million barrels of oil a day, more than half of which is imported. Diesel fuel is America’s primary commercial fuel. Seventy percent of the nation’s goods are transported in diesel-powered vehicles.

MARKET SITUATION:
. $70 per barrel oil slated to reach $100 per barrel in the near term

. Record high fuel pricing which is anticipated to remain for extended periods

. Reduction of refining capacity due to recent hurricanes and legislation

. Federal mandates requiring the use of alternative fuels, many specifically requiring biodiesel blends

Who is CONSOLIDATED BIOFUELS?
Consolidated Biofuels is in the alternative fuels and energy field and is dedicated to a cleaner America by increasing the availability

of competitive biodiesel fuel nationwide and expanding the effort to reduce pollution caused by petroleum derived diesel fuels.

The National Biodiesel Board in a news release titled Biodiesel Production Soars stated that it "anticipates 75 million gallons of biodiesel production in 2005. That's three times the 25 million gallons produced just one year earlier."

What is biofuel?
Biofuel is the name of a clean burning alternative fuel, produced from domestic, renewable resources. Biofuel contains no petroleum, but it can be blended at any level with petroleum fuel to create a biofuel blend. It can be used in conventional heating equipment or diesel engines with no major modifications. Biofuel is simple to use, biodregadable, nontoxic, and essentially free of sulfur and aromatics.

Is biofuel used as pure fuel or is it blended with petroleum fuel?
Biofuel can be used as a pure fuel or blended with petroleum in any percentage. B20 (a blend of 20% biofuel with 80% petroleum fuel, by volume) has demonstrated significant environmental benefits.

How do biofuel emissions compare to petroleum fuel?
Biofuel is the only alternative fuel to have fully completed the health effects testing of the clean air act. The use of biofuel in a conventional heating system or diesel engine results in a substantial reduction of unburned hydrocarbons, carbon monoxide, and particulate matter compared to the emissions from heating oil or diesel fuel. In addition, the exhaust emissions of sulfur oxides and sulfates (major components in acid rain) from biofuel are essentially eliminated compared to heating oil or diesel fuel.

Can biofuel help mitigate “global warming”?
A 1998 biofuel lifecycle study, jointly sponsored by the U.S. Dept. of Energy and the U.S. Dept. of Agriculture, concluded that biofuel reduces net co2 emissions by 78 % compared to petroleum fuels. This is due to biofuel’s closed carbon cycle. The co2 released into the atmosphere when biofuel is burned is recycled by growing plants, which are later processed into fuel.

Is biofuel safer than petroleum fuel?
Scientific research confirms that biofuel has a less harmful effect on human health than petroleum fuel. Biofuel emissions have decreased levels of polycyclic aromatic hydrocarbons (PAH) and nitrited PAH compounds that have been identified as cancer causing compounds. Test results indicate that PAH compounds were reduced from 50% – 85%. Targeted nPAH compounds were reduced by 90%. Biofuel is non-toxic and biodegradable. In addition, the flash point (the temperature at which a fuel will ignite when exposed to a spark or flame) is 300 degrees Farenheit, well above petroleum fuel’s flashpoint of 125 degrees.

RECENT NEWS

Core Ventures, LLC and Consolidated Biofuels Execute a Consulting and Management Agreement for 30 Million Gallon Biodiesel Plant
DALLAS--(BUSINESS WIRE)--Dec. 13, 2005--

Consolidated Biofuels, Inc. (OTC:CBIO), an alternative fuel producer, announced today that it has signed a consulting agreement with Core Ventures, LLC. Under the agreement, Core Ventures will supply experienced management to oversee the location, construction and operation of the Company's first biodiesel production facility. Core Ventures will also assist the Company in securing contracts for feedstock and chemical procurement; as well as contracts for sales of biodiesel and glycerin.

The first of six planned by the Company, each facility will utilize a proven continuous flow process that will enable the Company to be competitive with other larger facilities in the region. Consolidated is also investigating several other applicable technologies to improve efficiencies as well as exploring other feedstock sources to integrate into the new facilities.

Look for lots of very aggressive PR forthcoming on this company. This is the start of a very aggressive IR campaign. This could be the one for the NEW YEAR.

Information within this email contains" forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve with respect to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and maybe "forward looking statements.

Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as: "projects", "foresee"," expects", "estimates," "believes," understands" "will," "part of:" anticipates," or that by statements indicating certain actions "may," could," or "might" occur.

All information provided within this email pertaining to investing, stocks, securities must be understood as information provided and not investment advice. We advise all readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured within this email. None of the material within this report shall be construed as any kind of investment advice. Please have in mind that the interpretation of the writer of this newsletter about the news published by the company does not represent the company official statement and in fact may differ from the real meaning of what the news release meant to say. Look at the news releases by yourself and judge by yourself about the details in it.

In compliance with Section 17(b), we disclose the holding of VMTF shares prior to the publication of this report. Be aware of an inherent conflict of interest resulting from such holdings due to our intent to profit from the liquidation of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company.

Please be advised that nothing within this email shall constitute a solicitation or an invitation to get position in or sell any security mentioned herein.

This newsletter is neither a registered investment advisor nor affiliated with any broker or dealer. This newsletter has received a payment of 200,000 shares from a non-affiliated third party (OTC) for a two week advertising campaign .

All statements made are our express opinion only and should be treated as such. We may own, take position and sell any securities mentioned at any time.

This report includes forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may include terms as "expect"," believe", "may", "will", "move"," undervalued" and "intend" or similar terms.

The content contained in this letter has been compiled from information in public record.


What will Shell, Chevron and the other oil majors do as Biofuel becomes the preferred energy of choice?

Tuesday, January 3, 2006

Niger Delta Blues

IWHREKAN, NIGERIA -- In the early morning of July 21, deep below the ground, a 40-centimetre pipeline burst not far from the centre of this little town. Dark, pungent crude oil began to bubble, then spurt, then pour from the ground, soaking the soil, washing into a nearby creek, quickly running down into the river. It coated the leaves, the twigs and each blade of grass, filling the air with a dark, cloying smell.- Stephanie Nolen


Yesterday I addressed the news report on the notorious "Yahoo-Yahoo" Internet Scams and today I have to react to the well researched and well written reports on the agonies and ironies of oil exploration in the Niger Delta of Nigeria.


Dino Mahtani of Financial Times and Stephanie Nolen reminded the world of the festering sores of our crude oil and politics plaguing the host communities in the Niger Delta of Nigeria. Dino Mahtani's report "Nigeria Burns an Opportunity" was published on the Los Angeles Times online yesterday
(http://www.latimes.com/news/science/environment/)and Stephanie Nolen's report was published on http://www.theglobeandmail.com.

May I commend Stephanie Nolen for writing such a very down to earth feature on the critical situation of oil exploration in the Niger Delta of Nigeria.

She wrote it with the sensitivity of one of us here in the Niger Delta as we feel the pains of the agonies and ironies of oil exploration in our communities.

Corruption and misadministration have done us more harm than good. And our government is to blame for the poverty plaguing us and neither Shell nor Chevron or any other multinational oil company could be found guilty of the underdevelopment in the oil producing states in Nigeria. And even here on Bonny Island where I live, the gross neglect of our communities is annoying and the government is to blame for the failures.

I advise that the multinational oil companies should re-negotiate the articles of the MOU with the Government of Nigeria and focus on how much should be given to the Government and how much should be used for the direct development of the host communities in the Niger Delta. The multinational oil companies can contract the Julius Berger to build resettlement estates for the host communities, roads, schools, hospitals, water supply depots and power supply stations and other modern amenities, facilities and utilities for the mutual benefit of the host communities as they have built the Nigeria LNG Residential Areas on Bonny Island.

Stephanie Nolen should come and see where I live in the Nigeria LNG RA, the perfect example of the model of how oil wealth could be used to develop the host communities in the Niger Delta of Nigeria.

Monday, January 2, 2006

"YAHOO-YAHOO" INTERNET SCAMMERS MADE $170 MILLION IN 2005

Nigeria scam grabs dollars of gullible;Americans continue to fall victim to absurd schemes, especially from Nigeria, which is notorious for financial crime.BY ERIC ROSENBERG.WASHINGTON - Wanted: Americans to share in the fabulous wealth of African despot. Must be discreet, willing to fork over thousands of dollars in advance and, above all, gullible
http://www.miami.com/mld/miamiherald/business/national/13520351.htm


The first news I read online on Nigeria in 2006 was on how foreign morons lost over $170 Million to Internet Scammers last year and the notorious Nigerians are always the first suspects. I responded immediately by sending a rejoinder to The Miami Herald that published the erroneous news report online.

The Editor
The Readers' Forum
The Miami Herald
One Herald Plaza
Miami, Florida 33132-1693
E-mail: HeraldEd@herald.com

Dear Editor,
RE:Nigeria scam grabs dollars of gullible;Americans continue to fall victim to absurd schemes, especially from Nigeria, which is notorious for financial crime.BY ERIC ROSENBERG(Hearst News Service.)

May I react to the above news report Posted on Sun, Jan. 01, 2006 of the online edition of your newspaper, The Miami Herald.

I am a Nigerian publisher and editor who has had the privilege of working relationships with the USAID and the UNICEF. Therefore, your report attracted my attention and I have to respond.

Yes, greediness, ignorance and gulliblity are largely responsible for the prevalence of the notorious Nigerian Internet Scams. But, I blame the CIA,FBI and the Interpol for failing to investigate and arrest the criminals perpetrating these harmful crimes of Phishing. Because, the perpetrators could be traced. They could be traced through their telephones lines and also could be traced to the cyber cafes used by the Nigerian Internet Scammers through their Yahoo or Hotmail accounts. The IP IDs of the computers are not hidden. And I have reported on my weblog http://nigeriantimes.blogspot.com that most of us in Nigeria know the Internet Scammers, because they have their own cyber cafes used solely for their Internet scams and they are not hidden from the public. So, the agents of the CIA, FBI and the Interpol have to go to Nigeria and recruit Nigerian informants or spies to help them to track and report these Internet Scammers. And I know one of the biggest Internet fraudusters who is now a "born again" Christian and claims to have given up a life of crime. So, he could be helpful in disclosing the members of their network who are still actively engaged in the "Yahoo-Yahoo" Internet Scams. I can also direct them to the cyber cafes I know engaged in these crimes. I know some people who are engaged in these crimes and I have written to the CIA and the Interpol, but they did not reply. So, I published that people should ignore these Internet Scam spam and have anti-spam filters to prevent such Internet scam e-mails from flooding their e-mail boxes.

In Nigeria, we call those engaged in the Internet Scams "Yahoo-Yahoo", because 99% of them use Yahoo e-mail accounts and we see them at work in numerous cyber cafes in Lagos and other cities all over Nigeria. They work everyday and night and prefer working overnight to make sure that others will not disturb, distract or interrupt them as they use chicanery and flattery to swindle and defraud their ignorant, gullible and greedy foreign targets who are mostly Americans and Europeans.

These Internet Scams can be stopped once and for all if the Americans and Europeans and other foreigners stop being GREEDY, IGNORANT and GULLIBLE and if the CIA, FBI and INTERPOL can do their work accordingly.

Yours faithfully,
Orikinla Osinachi.
The Publisher/Editor
Nigerian Times
http://nigeriantimes.blogspot.com

N.B:What is Phishing?
Phishing is the act of tricking someone into giving them confidential information or tricking them into doing something that they normally wouldn’t do or shouldn’t do. For example: sending an e-mail to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft.www.michigan.gov/cybersecurity/0,1607,7-217-34415---,00.html