IEA: Rising Output, Energy Efficiency to Halve U.S. Oil Imports by 2020
DAEGU, South Korea, Oct 16 (Reuters) – Rising oil and gas production and improving energy efficiency in the United States could slash its oil imports in half by the end of 2020 from levels seen two years ago, the West’s energy watchdog said on Wednesday.
The Paris-based International Energy Agency (IEA) earlier this month said the United States would overtake Russia next year to become the world’s largest oil producer thanks to its shale oil boom.
Adding that development to energy savings from investments in efficiency will cut the need of the world’s largest oil consumer to rely on imported oils, the IEA said. Earlier this month, the U.S. government said the country had already ceded its ranking as top global oil importer to China.
In the report released on Tuesday at the World Energy Congress in South Korea, the IEA said the United States has taken steps toward becoming one of the most energy efficient members of the Organisation for Economic Co-operation and Development (OECD) by 2020.
Global energy efficiency markets around the world drew investment of up to $300 billion in 2011, a level on par with global investments in renewable energy or fossil-fuel power generation, the IEA noted in the report.
In 2010, IEA economies avoided burning 1.5 billion tonnes of oil equivalent thanks to efficiency improvements since 1974.
Companies of Interest:
|Companies of Interest included in|
this publication are derived from the numerous sources and screens we use
on a routine basis to select our focus companies featured in our monthly
newsletter the Emerging Growth News. While we have only
briefly reviewed these companies, something caught our attention and in
our opinion the company warrants further inspection.
|Graham Corp. (GHM:NYSE MKT) $28.00 6/3/2013|
The company designs, manufactures, and sells custom-built vacuum and heat transfer equipment to customers worldwide. Sales were up 53% and earnings were up 413% over the same period last year (as reported in the most recent quarter), trading at 25.23 times trailing earnings, 18.3 times forward earnings, 1.33 PEG ratio, 2.67 times sales, 3.01 times book, $5.17 per share in cash, $280 million market cap., $228 million enterprise value.
|Insignia Systems, Inc. (ISIG:NASDAQ) $2.00 5/1/2013|
The company markets in-store advertising products, programs, and services to consumer packaged goods manufacturers and retailers in the United States and internationally. Sales were up 85% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 1.35 times sales, 1.03 times book, $1.49 per share in cash, $27.3 million market cap., $6.9 million enterprise value.
|Cirrus Logic, Inc. (CRUS:NASDAQ) $19.62 4/25/2013|
The company a fabless semiconductor company, develops signal processing integrated circuits (ICs) for audio and energy markets. Sales were up 87% and earnings were up 64% over the same period last year (as reported in the most recent quarter), trading at 8.39 times trailing earnings, 6.56 times forward earnings, 0.29 PEG ratio 1.77 times sales, 2.28 times book, $2.30 per share in cash, $1.26 billion market cap., $996 million enterprise value.
|Charles & Colvard, Ltd. (CTHR:NASDAQ) $4.00 4/25/2013|
The company manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. Sales were up 56% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 18.18 times trailing earnings, 3.5 times sales, 1.39 times book, $0.63 per share in cash, $79 million market cap., $66 million enterprise value.
|OmniVision Technologies, Inc. (OVTI:NASDAQ) $15.41 2/28/2013|
The company engages in designing, developing, and marketing semiconductor image-sensor devices worldwide. Sales were up 129% and earnings were up 300% over the same period last year (as reported in the most recent quarter), trading at 53.51 times trailing earnings, 9.76 times forward earnings, 0.79 times sales, 1.04 times book, $2.60 per share in cash, $830.26 million market cap., $743.84 million enterprise value.
|Tangoe, Inc. (TNGX:NASDAQ) $16.06 2/13/2013|
The company provides communications lifecycle management software and services primarily to large and medium-sized businesses, and other organizations worldwide. Sales were up 113% and earnings were up 50% over the same period last year (as reported in the most recent quarter), trading at 292 times trailing earnings, 25.09 times forward earnings, 4.35 times sales, 4.11 times book, $1.47 per share in cash, $608 million market cap., $581 million enterprise value.
|Chase Corporation (CCF:NYSE) $18.46 1/10/2013|
The company engages in the manufacture and sale of protective materials for various applications in the United States and internationally. Sales were up 50% and earnings were up 66% over the same period last year (as reported in the most recent quarter), trading at 17.92 times trailing earnings, 9.98 times forward earnings, 1.22 times sales, 1.69 times book, $1.67 per share in cash, $167.34 million market cap., $222.17 million enterprise value.
|WSI Industries, Inc. (WSCI:NASDAQ) $6.61 1/3/2013|
The company engages in the precision contract metal machining business in the United States. Sales were up 43% and earnings were up 275% over the same period last year (as reported in the most recent quarter), trading at 12.08 times trailing earnings, 0.55 times sales, 1.54 times book, $1.00 per share in cash, $17.88 million market cap., $21.82 million enterprise value.
|Triangle Petroleum Corp. (TPLM:NYSE) $5.98 12/13/2012|
The company engages in the acquisition, exploration, and development of unconventional shale oil resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. Sales were up 570% and the company reported a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 11.07 times forward earnings, 6.28 times sales, 1.26 times book, $264.97 million market cap., $264.97 million enterprise value.
|Argan, Inc. (AGX:NYSE) $18.82 12/13/2012|
The company, through its subsidiaries, provides development, consulting, engineering, procurement, construction, commissioning, operations, and maintenance services to the power generation and renewable energy markets for public utilities, independent power project owners, municipalities, public institutions, and private industry. Sales were up 153% and earnings were up 71% over the same period last year (as reported in the most recent quarter), trading at 15.28 times trailing earnings, 11.34 times forward earnings, 1.05 times sales, 2.29 times book, $13.57 per share in cash, $259.21 million market cap., $72.38 million enterprise value.
Under $5.00 Hitting 12 Month Highs:
Under $5.00 With Significant Insider Buying:
to Focus List Companies:
|Companies included in WSR’s Focus List are|
a compilation of WSR’s Featured Companies and the companies included in
its model Microcap Portfolio.
Sponsors or Featured Companies:
|Black Ridge Oil & Gas, Inc.|
Black Ridge Oil & Gas controls over 12,000 net acres in the Bakken and Three Forks play in western North Dakota and eastern Montana. The 2013 US Geological Survey assessment estimated that there are 3.7 billion barrels of recoverable oil in the Bakken Formation and an additional 3.7 billion barrels of recoverable oil in the Three Forks Formation. At a total of 7.4 billion recoverable barrels, this represents a twofold increase from the 2008 assessment. Together with the continued advances in horizontal drilling technology, the Bakken oil play is proving to be both high-yield and sustainable.
|Ecosphere Technologies, Inc.|
Ecosphere Technologies, Inc. is a water engineering, technology licensing and innovative U.S. manufacturing company that develops environmental water treatment solutions for industrial markets throughout the world. The Company is a leader in emerging advanced oxidation processes and has an extensive portfolio of intellectual property that includes five United States patents for the Ecosphere Ozonix(R) process. The patented Ecosphere Ozonix(R) process is a revolutionary advanced oxidation process that is currently being used by energy exploration companies to reduce costs, increase treatment efficiencies and eliminate liquid chemicals from wastewater treatment operations around the United States.
A recipient of Frost & Sullivan’s 2012 North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment and chosen as a 2013 IHS CERAWeek Energy Innovation Pioneer, Ecosphere has enabled oil and gas customers to recycle and reuse over 3 billion gallons of water on approximately 700 oil and natural gas wells in major shale plays around the United States since 2008.
|EnerJex Resources, Inc.|
EnerJex Resources, Inc. is a domestic onshore oil company with producing assets located in Eastern Kansas and South Texas. The Company was transformed at the beginning of 2011 through a comprehensive transaction that included a complete reconstitution of its board of directors and management team, a recapitalization of its balance sheet, and the acquisition of assets in a new core operating area.
EnerJex is focused on the acquisition and development of shallow oil properties that have low production decline rates and offer abundant drilling opportunities with low risk profiles. As of December 31, 2012, the Company had 2.9 million barrels of proved oil reserves, and it has identified hundreds of low risk development drilling locations on its existing acreage.
|FieldPoint Petroleum Corp.|
The Company acquires, operates, and develops oil and gas properties located in Texas and Wyoming. FieldPoint Petroleum looks to continue expanding in Texas and Wyoming, as well as in other Rocky Mountain and mid-continent states such as Montana, North Dakota and Oklahoma.
As of January 2013, the Company has varying ownership interest in approximately 300 wells located in Oklahoma, Louisiana, New Mexico, Texas and Wyoming. FPPC oil and gas production is sold on the spot market.
The Company believes that, with operator’s responsibility and authority, it is in a better position to control cost, safety, and work timelines, as well as other critical factors affecting the wells’ economics.
|Gray Fox Petroleum Corp.|
Gray Gox Petroleum is an oil and gas exploration and development company focused on expanding the 135+ year tradition of Western US energy production.
Gray Fox owns a 82% interest in the 32,723-acre West Ranch Prospect, which is comprised of 22 Federal leases in the Butte Valley Oil Play Region of north-central Nevada, in Elko and White Pine Counties, 50 miles north of Ely, NV. The Company’s West Ranch Prospect overlies structures and reservoir horizons similar to those that have produced a combined 50+ million barrels of oil in Nevada to date.
With the West Ranch Prospect estimated to represent a total resource potential of 2 to 2.5 billion barrels of oil,1 Gray Fox is currently developing an initial exploration work program to further assess the prospect’s resource and production potential. To maximize on the Company’s assets, Gray Fox has assembled a core team of management and advisor professionals with oil and gas exploration and production backgrounds, as well as business building and capital raising expertise.
|Liberator Medical Holdings, Inc.|
Liberator is recognized for offering a simple, reliable way to purchase medical supplies needed on a regular, ongoing, repeat-order basis, with the convenience of direct billing to Medicare and private insurance. Approximately 85% of its revenue comes from supplying products to meet the rapidly growing requirements of general medical supplies, personal mobility aids, diabetes, urological, ostomy and mastectomy patients. Liberator communicates with patients and their doctors on a regular basis regarding prescriptions and supplies. Customers may purchase by phone, mail or internet, with repeat orders confirmed with the customer and shipped when needed.
Mimvi is a pure-play search engine and recommendation technology company for Mobile Apps. It’s (patent pending) proprietary search and “intelligent” recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: the Iphone,k Google Android, BlackBerry and Web Apps.
|Panache Beverages, Inc.|
Panache Beverage, Inc. is an alcoholic beverage company specializing in the development and global sales and marketing of spirits brands. The Panache
portfolio contains three brands, Wodka Vodka, Alchemia Vodka and Alibi Bourbon.
Panache holds a “build and exit” mentality – its expertise lies in the strategic development and early growth of its brands establishing the Company’s assets as viable acquisition candidates for the major global spirits companies including Diageo, Bacardi, Future Brands, Pernod Ricard and Moet Hennessey. The goal is to sell brands individually as they mature while continuing to pipeline new brands in to the Panache portfolio.
|Stratex Oil & Gas, Inc.|
Stratex is an independent energy company focused on the exploration, acquisition, and production of crude oil in the Bakken and Three Forks formations in North Dakota and Montana. It’s oil and natural gas operations are primarily concentrated in two Rocky Mountain basins, the Williston Basin of North Dakota and Montana, and the Green River Basin of Wyoming. Stratex’s corporate strategy is to internally identify prospects, acquire lands encompassing those prospects, and evaluate those prospects using subsurface geology, geophysical data, and exploratory drilling. Using this strategy, Stratex has developed an oil portfolio of proven reserves, as well as development and exploratory drilling opportunities on high potential oil prospects.
Stratex’s core operating areas are the Williston Basin in North Dakota and Montana, and the and the Denver-Julesburg Basin in Colorado. In the Williston Basin, Stratex focuses on oil production from multiple zones including the Bakken Shale and Three Forks Sanish Formations. In the Denver-Julesberg Basin Stratex focuses on the Niobrara Formations.
Stratex engages geologists, petroleum engineers, and geophysicists with years of relevant industry experience in the basins where the Company operates. Stratex strives to retain operations on its lands wherever possible in order to control the timing of the development of its leasehold.
|Water Technologies Intl., Inc.|
Water Technologies International, Inc., (WTII) is in the business of designing, manufacturing and distributing Atmospheric Water Generators (AWGs) and related products through its subsidiaries Aqua Pure International, Inc. and GR8 Water, Inc. The Company has patent pending products in water generation, air filtration, water filtration and dehumidification. WTII sells and distributes home, office and commercial AWGs units that produce drinking water, ranging from seven gallons to several thousands of gallons per day by extracting water from the air.
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