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Wednesday, 06/11/08
Posted 06/11/08, 10:45
pm ET |
(Scroll down to see Jim's
comments below) |
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Today's date:
Wednesday, 06/11/08 |
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Dow Jones: |
12,083 |
- 205 |
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NASDAQ: |
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2,394 |
- 54 |
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S&P 500: |
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1,335 |
- 22 |
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Opening Segment 1
Title: |
'Wildcat Calls' |
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Featured Stock(s): |
BPZ Resources, Inc. (BZP)
See BZP's official
website
here.
See the Yahoo!
Finance profile for
BZP
here.
See Opening Segment 2,
below...
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After this segment, you
can see Jim's Lightning
Round picks
here... |
JJC:
Oh yeah... we got mauled
today, down 206 points...
It was killer... but
that's not to say I'm
giving up. Nope. This is a
market where the only
thing that's working is
energy... And, since we
are all about finding the
bull market somewhere,
well... let's just say,
even if it takes us to
Peru...
It's "Wildcat Week" on Mad
Money...
I've got a great
wildcatter with its sights
set on Peru... a company
that tries to find new oil
and gas by drilling in
previously-unexplored
places...
The company I'm about to
recommend...
BPZ Resources, Inc. (BZP).
This company is drilling
both onshore and offshore
for oil in Peru, and I
don't think you should
about BZP's assets getting
nationalized. Peru isn't
likely to nationalize
BZP's reserves the moment
the company finds new
oil... no. Peru has become
a friend to capitalists,
that's already made us
some money in
Creditcorp (BAP),
which is up almost 18%,
since I recommended it on
March 31st.
Right now, BZP is a play
on increased oil
production and high oil
prices. Remember, all of
these wildcatters only
work because of the
umbrella of high oil...
BZP isn't doing any real
wildcatting just this
moment, but it should
start sometime during the
third quarter, when it's
due to begin drilling at
the Tumbes Onshore
Field... Right now, only
one of this company's
plays is active... The
Corvina Offshore Field,
which has around 110
million barrels of
certified reserves. BZP is
drilling another well at
Corvina, and the results
from that should come in
by July, and it could be a
good catalyst...
But the real meat of the
story is that BZP is
expected to rapidly
increase production. Their
guidance is for 6,000
barrels a day by the third
quarter of this year...
8,000 barrels a day by the
end of 2008... and 11,000
barrels a day by the end
of 2009. All of this is
compared to their puny
production of just 500
barrels in the first
quarter of this year.
With those production
numbers, they're
drinking somebody else's
milkshake...
Especially with oil prices
this high, it seems like
they might as well be
pumping money out of the
ground... but we'll take
that money in Peruvian
currency... not the cheap
and debased dollar.
BZP also plans to start
drilling at a second
offshore play, the
Albacore Tract by the end
of the year...
Right now, BZP is 100%
oil, but it plans on
finding natural gas, which
is why it's working to
build a 160-megawatt gas
powerplant, that will be
fed by its gas production.
Peru's got gas... maybe
not as much as the trio of
great American shales,
Barnett, Marcellus and
Haynesville... but they're
capable of giant flatulent
status...
The main thing that had
been holding this stock
back is no longer a
problem...
There was a ship fire at
its Corvina play - the one
that's producing - so the
company had to shut down
production, and then wait
for approval from the
government to transport
its oil from the rig to a
refinery. Now it has that
approval, and can start
delivering its oil.
. . . .
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The Bottom Line!:
BPZ Resources, Inc. (BZP)
is our Peruvian
wildcatter.
Remember, 20% of your
portfolio should be
overseas... and this one
counts for that.
It's projecting absolutely
tremendous production
growth. With oil at
$136, how can you say
no...
. . . .
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■ |
Stock Snapshots - Includes
all stocks mentioned above |
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Jim
Cramer's
rating on
this stock |
STOCK
SYMBOL |
Closing
price
that
day |
Opening
price
next
day |
Full Company
Name/Comments
(see comments above for
each) |
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BZP |
23.76 |
25.00 |
BPZ Resources, Inc. (BZP)
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See all of tonight's stocks'
latest quotes on
Yahoo! Finance |
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Most popular
investing books ordered:
(click any book to see at
Amazon.com) |
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Mutual-Fund-Holdings.com
NEW RESOURCE!
See Ken Heebner's CGM
Focus Fund
Top 25 holdings - The No.
3 Top-Performing Mutual
Fund in 2007
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Opening Segment 2
Title: |
'Troubled Waters?' |
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. . . .
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Featured Stock(s): |
Interview with Rep.
John Peterson,
Republican Congressman
from Pennsylvania
No
specific stock picks.
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After this segment, you
can see Jim's Lightning
Round picks
here... |
Jim's comments BEFORE the
interview:
We're fired up about the
need to find more oil.
We have been for a long
time. That's why
we've liked all the oil
stocks... we're running
out. Right now, in
congress, there's an
effort being spearheaded
by Representaive John
Peterson, from my native
state of Pennsylvania,
that would lift the
prohibition on drilling
for oil and gas, from 50
to 200 miles offshore.
Today, it was shot down by
the democrats in the
subcommittee on interior
and the environment, by a
9-6 party line vote.
It does get another chance
next Wednesday in the full
appropriations committee.
I'm telling you, this
ain't going to make it.
But, if this passes,
through that full house
and senate, it would open
up drilling for an
estimated reserve... these
are the numbers that I
managed to piece
together... 8.5 billion
barrels of oil, and 29
trillion cubic feet of
natural gas... as well as
potential undiscovered
resources that could be as
much as 86 billion barrels
of oil, and 420 trillion
cubic feet of natural gas.
That should be a huge boon
for a lot of the companies
we've been recommending
over and over again...
Transocean (RIG),
National Oilwell Varco (NOV*)
- the one that makes the
rigs...
FMC Technologies (FTI)
- which makes the subsea
trees...
Schlumberger (SLB)...
and virtually every other
company engaged in
offshore drilling... not
to mention all the jobs
created... all the usual
natural gas suspects... as
it's Cramer's year of
natural gas. On Mad
Money, we are all about
making it possible to find
more oil... and that's why
I'm bringing on
Congressman Peterson to
talk about the prospects
of this legislation, and
how we can unlock our
nation's deep-water
resources...
Congressman Peterson,
welcome to Mad Money...
. . . .
.
Jim's comments AFTER the
interview:
He's right. We're in
a real jam here. We
cannot see lower prices
until we do far more
drilling, but the big
places to drill are off
limits.
Representaive John
Peterson makes sense.
I think you should write
your congressman and say
that.
. . . .
.
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■ |
Stock Snapshots - Includes
all stocks mentioned above |
■ |
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|
Jim
Cramer's
rating on
this stock |
STOCK
SYMBOL |
Closing
price
that
day |
Opening
price
next
day |
Full Company
Name/Comments
(see comments above for
each) |
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na |
na |
na |
na
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Go to the LIGHTNING ROUND from
tonight's show
here >>
See current quotes on Yahoo!
Finance from
tonight's show stocks
here >> |
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Symbol keys: |
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A Charitable Trust stock.
- An asterisk next to a
stock symbol indicates that
Jim mentioned it is a stock
that he manages within
his
charitable trust portfolio.
You can see the complete
portfolio
of stocks
here >> |
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Thumbs up - indicates
he would buy the stock or,
at the very least, not sell
the stock. We do our
best to interpret Jim's
opinion on stocks, as we
think it is indicated by his
comments during the show.
Please read his comments to
decide for yourself. |
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Thumbs down -
indicates he has said not to
buy or to sell the stock,
based on his comments
We do our best to interpret
Jim's opinion on stocks, as
we think it is indicated by
his comments during the
show. Please read his
comments to decide for
yourself. |
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Back up the truck -
indicated by Jim, when he
says the stock is so good,
that he would do a
'mon-back' on the stock...
In other words, this is the
sound someone would say to a
truck driver, "Come on
back... " as he is "backing
up the truck" to load up on
his cargo. Translation
for buying stocks:
This recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point. |
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Stumped. - Of the
2,000+ stocks that Jim
Cramer has in his head, for
which he has an informed
opinion, he sometimes comes
across a caller with a stock
he does not know well enough
to opine on... He then
indicates he is stumped and
will have to come back to
it, after he does some
homework of his own on
the stock. This
usually occurs during the
Lightning Round, when Jim
does not know in advance who
is calling, or what their
stock question is about. |
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Definitions of key phrases
used by Jim, known as
"Cramerisms": |
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Definition: 'Pull the
trigger' is Jim's phrase for making
the decision at that point to trade -
either to 'buy' or
to 'sell' (although he
usually uses the phrase for
buying), as if to say you
should feel comfortable
enough to make the final
decision without looking
back... |
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