By Jason Simpkins Associate Editor After a disappointing string of failed takeovers, CNOOC Ltd. (ADR: CEO) has reignited its foreign expansion initiative with a $2.49 billion buyout of Norway’s Awilco Offshore ASA. China Oilfield Services Ltd., a unit of China’s top offshore oil and gas producer will pay $16.66 (85 kroner) a share, an 18.7% premium to last week’s closing price. Awilco’s board unanimously approved the offer and the deal, which still requires regulatory approval, but should be closed by October. China Oilfield will borrow about $2.3 billion to finance the deal. "I think 85 kroner a share is a good price," Stian Eliassen, an analyst at Carnegie ASA in Oslo, told Bloomberg News. "They’re very interested in Awilco’s jack-up rigs, seven of which will be available to be leased by clients next year."...

Don't believe it, think stocks will keep falling?  We called it at 13,000.  Thanks to the U.S. Congress throwing their weight around trying to bring down the price of oil, we have a great catalyst to push the DOW back up.  You think CEO's and Wall Street analysts hate being wrong, think of the ego's on Capital Hill being beat down?  Very soon Masters, we will rally, just you wait. Liberity and Justice for All! Time to put that shopping list together again, best of breed stocks. Today (6/18/08) Bush is even saying to lift our long-standing ban on offshore ...

Again, I cannot short individual names but I would of liked to short Apple (AAPL) for the near term as I wrote a few days ago [Jun 9: Apple Buy the Rumor, Sell the News?]Don't look now but this chart has all the makings of a double top. I can't short individual names, but this might be a short term short, at least until the $160-$170 range.... in lieu of that I have just cut back the long position, awaiting lower entry points to rebuy. We'll see if I get one.We are down to the first support, 50 day moving average ($172) so I am beginning to rebuy, but only a bit here since this is definitely a double top we have formed. I'd much prefer the 200 day moving average of $161 (or lower - maybe low to mid $150s would be ...

Like 2 dinosaurs running to hug each other - just go away. Both of you. Gosh the media act as if this is a fertilizer and coal company or something sexy like that...Shares of Yahoo!(YHOO) slumped after reports that talks with Microsoft(MSFT - ) have not brought about any agreement, and instead Yahoo! will announce a search partnership later Thursday with Google(GOOG).The Wall Street Journal reported that Microsoft is saying it is no longer willing to buy Yahoo for $33 a share, and that talks between the two have ended without a deal.The blog TechCrunch, citing a "reliable source close to one of the companies" said an announcement coming from Yahoo! at 4:30 p.m. EDT likely involves "a search partnership between the two companies that outsources all or part of ...

MyECheck Inc. (OTCBB: MYEC) announced today that it has signed on a new client, Unlimited Furniture, and will be providing the company with its comprehensive suite of electronic check processing services. The accord will give Unlimited Furniture customers the ability to use their checking accounts as an alternative way to pay for products.

MyECheck’s unique patent pending software is able to debit any U.S. checking account, including those that ACH cannot debit, enabling online merchants to expand their potential marketing base to more consumer and businesses. The process doesn’t require a physical check and adheres to the Check 21 specification.

“The US Department of Commerce released retail e-commerce sales data recently showing that online sales grew by 13.4% during Q1 2008 over Q1 2007,” commented Ed Starrs, CEO of MyECheck. “Combined with an increase in the use of electronic check payments, we expect our services to

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Part one of Todd's interview with Dow Chemical's (NYSE:DOW) CEO Andrew Liveris. In this part they talked about oil, natural gas and how the JV strategy will effect their impact on Dow. Click here to read Todd's Interview at ValuePlays Short Float 2.23% Target Price $46.91 52w Range $32.64 - $46.49 17-Mar-08 Reiterated Lehman Brothers Overweight $55 → $47 25-Sep-07 Initiated...

AmeriChip International, Inc. (OTCBB: ACII) announced that they have received their first Laser Assisted Chip Control production order from Eaton Corporation. Eaton is a diversified manufacturing company that conducts operations worldwide and has produced over $13 billion in annual revenue.

“Kenneth W. Mann, CEO of AmeriChip, said, “AmeriChip secured the Eaton order because we are the only Tier One supplier* able to offer Laser Assisted Chip Control technology. Based on LACC technology, AmeriChip is the lowest cost supplier. This new Eaton order validates AmeriChip’s unique, patented, proprietary Laser Assisted Chip Control (LACC) technology. Our LACC technology has the potential of reducing costs in the turning manufacturing industry worldwide.”

After the pre-production approval process of 10 gears, the company will begin on the full process, which is expected to be completed by July 31, 2008 with 3,000 parts. After the first ten gears are run through the approval process, AmeriChip

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Earlier this week, it was announced that a subsidiary of Capital City Energy Group, Eastern Well Services, signed a letter of intent to acquire Osage Wireline, Inc. The cash and stock acquisition is expected to produce immediate benefits, including a postulated increase in gross revenues of around forty percent.

Eastern Well Services is a fast-growing oil and gas service entity with projects in both the United States and Africa. The company provides fracturing, cementing, logging, perforating, and well testing services for oil and natural gas companies. This latest acquisition will broaden Eastern’s wireline ability, which is the use of a cabling system to lower mining apparatus into an oil and gas well.

Osage Wireline Inc., which specializes in wireline technology and open-hole logging, is headed up by Mike Mackey. Mackey has been excelling in the wireline business for nearly three decades, attaining a wealth of knowledge which will be inherently

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Powder River Petroleum International Inc. (OTCBB: PWDR) announced today that Jerry W. Walters will take over the position as Operations Manager. Walters has over 30 years experience in oil and gas. He has a wealth of knowledge in this sector, ranging from research and development to design, management and consulting.

“I am thrilled to have Mr. Walters join the Powder River Petroleum International Inc. team. I believe his experience and expertise in this industry will be an excellent addition to our production and operations team,” stated Powder River Petroleum International Inc. CEO Brian Fox.

Powder River Petroleum International Inc. is actively seeking acquisitions of oil and gas properties and companies operating in these venues in the United States and Canada. The company is also a marketer of crude oil and natural gas. Powder River Petroleum recently purchased a drilling and service company. The company expects an increase

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I had a very interesting meeting with the largest athletic shoe company in the world, Yue Yuen Industrial (0551.HK). The soles of tennis shoes are made from 'synthetic' rubber, a combination of petroleum-based chemicals as well as rubber. Since the cost of oil is soaring, so is the cost of synthetic rubber. That doesn't mean Yue Yuen International is headed for trouble. It does mean that they'll need to improve productivity and/or raise prices to compensate for the raw materials increase. I did have a fascinating discussion with the CEO about the success of their manufacturing plant in Vietnam.