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PRRPF
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Name: Portrush Petroleum Corporation
Symbol: PSH - TSX;
PRRPF - OTC BB
Fiscal year End: December 31
Issued: 21,006,608
Escrow: 103,125
Company Contact Info
Suite 200
1687 W. Broadway
Vancouver, British Columbia
Canada V6J 1X2
Phone (888) - 823 - 8877
Email Address: portrush@...
Internet URL: http://www.portrushpetroleum.com
Portrush Petroleum is a publicly traded, rapidly growing oil and
natural gas exploration and
production company focused on its core properties in the Michigan
Basin and the Mission River
Development project, situated in Refugio and Goliad Counties, Gulf
Coast, Texas.
The Michigan Basin project is situated in the Lennox area, Macomb
County, southeastern
Michigan approximately 50 miles north of the city of Detroit,
Michigan, adjacent to the route
of the Vector pipeline.
For an independent appraisal of the Lennox conventional light oil
and natural gas project, please go to
. http://www.portrushpetroleum.com
The Mission River project situated on the Gulf Coast of Texas is a
joint venture with McAlester Fuel
Company( see January 28, 2004 news release) that comprises of three
(3) tracts of land totaling 620 acres,
which are contiguous with one another.
For a more in-depth understanding of this project, got to
http://www.portrushpetroleum.com
Additional Information and Where to Find It
The Company files annual quarterly and special reports and other
information with the United States Securities and Exchange
Commission (the ``SEC''). You may read and copy any reports,
statements or other information filed by the Company at the SEC's
public reference room at 450 Fifth Street, N.W., Washington D.C.
20549 or at any of the SEC's other public reference rooms in New
York, New York and Chicago, Illinois. Please call the SEC at 1-800-
SEC-0330 for further information on the public reference rooms. The
Company's filings with the SEC are also available to the public from
commercial document-retrieval services and at the Internet web site
maintained by the SEC at http://www.sec.gov.
We encourage our readers to visit the following web sites: U.S.
Securities and Exchange Commission
The National Association of Securities Dealers, Inc
OTC Bulletin Board Official Web Site http://www.otcbb.com/dynamic/http://www.nasdaqtrader.com/
Furthermore, visit Free Edgar for complete filings of public trading
companies.
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OCRI
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OCEAN RESOURCES, INC.
www.oceanri.com
2705 Canton St - Dallas, TX 75226
Contacts: Dennis McLaughlin, CEO, Kit Chambers, COO
Tel: 469-227-7806 Fax: 469-227-7955 kchambers@...
STOCK OVERVIEW: Symbol: OTCBB: OCRI Shares Outstanding: 34,674,221
Estimated Float: 7,000,000 Fiscal Year End: June 30
_____________________________________________________________________
_
COMPANY OVERVIEW:
Ocean Resources, Inc. is engaged in the business of deep water
research, exploration, survey, and recovery operations of valuable
shipwrecks throughout the world.
The Company's subsidiaries have years of collective experience and
professional expertise in the fields of research, location, and
recovery of valuable shipwreck artifacts and cargo; consequently,
the Company is uniquely positioned to achieve its goals through
proprietary technologies, exclusive exploration permits,
intelligence of existing shipwreck cargo's, proprietary research
libraries, and partnerships with third parties that bolster the
existing intellectual property of the Company.
The Company is focused on producing revenues through the sale of
recovered cargo from deep ocean shipwrecks located in international
waters, and has initially targeted wrecks of five World War II-era
cargo ships that carried hundreds of thousands of tons of base,
precious, and strategic metals.
The Company has licensed the rights to a number of well-documented
shipwrecks, bearing an estimated total of $100+ million in commodity-
grade metals to be recovered over an estimated three and one half
years.
Billions of dollars of metals have been lost in the oceans just
waiting to be recovered.
Forward-Looking Statements
This contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbors
created thereby.
Investors are cautioned that certain statements in this release are
``forward-looking statements'' within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve known and
unknown risks, uncertainties and other factors. Such uncertainties
and risks include, among others, certain risks associated with the
closing of the transaction described above, government regulation,
and general economic and business conditions. Actual events,
circumstances, effects and results may be materially different from
the results, performance or achievements expressed or implied by the
forward-looking statements. Consequently, the, forward-looking
statements contained herein should not be regarded as
representations by the Company or any other person that the
projected outcomes can or will be achieved.
Additional Information and Where to Find It
The Company files annual quarterly and special reports and other
information with the United States Securities and Exchange
Commission (the ``SEC''). You may read and copy any reports,
statements or other information filed by the Company at the SEC's
public reference room at 450 Fifth Street, N.W., Washington D.C.
20549 or at any of the SEC's other public reference rooms in New
York, New York and Chicago, Illinois. Please call the SEC at 1-800-
SEC-0330 for further information on the public reference rooms. The
Company's filings with the SEC are also available to the public from
commercial document-retrieval services and at the Internet web site
maintained by the SEC at http://www.sec.gov.
We encourage our readers to visit the following web sites: U.S.
Securities and Exchange Commission
The National Association of Securities Dealers, Inc
OTC Bulletin Board Official Web Site http://www.otcbb.com/dynamic/http://www.nasdaqtrader.com/
Furthermore, visit Free Edgar for complete filings of public trading
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wOW, A whole year since that post. talk about a correction!<br><br>It's nice to
see markets function the way they are supposed to. We're probably not finished
with the downtrend yet.<br><br>Brian
Since my last post, all indices have suffered
corrections, with the DJI showing continued weakness,
suggesting a bear market has begun. And we haven't even hit
peak interest rates yet! Isn't this New Economy fun?
It might sound strange, but the markets should
not be doing as well. Traditionally, a rapid GDP
growth scare as occured this week should have rattled
the markets. The fact that they rallied instead
suggests that a lot of neophytes are daytrading and don't
understand the macroeconomic implications of rampant GDP
growth.<br><br>Or I could be entirely wrong and this is really a
"new economy" and old rules simply don't apply. That's
what they say at every market peak, going all the way
back to tulip bulbs.<br><br>brian
Noone seems to know whether rates will be hiked
tomorrow. I am betting that they will be, and it will be
the final increase for the next 6 months, based on
the economic numbers we've been seeing.<br><br>In my
opinion, most investors underestimate the importance of
the prime interest rate. This rate is tied to all
sorts of borrowing costs, both in the companies we
invest in, as well as our own margin account rates, and
consumer spending in general. The higher the cost of
borrowing, the less people will borrow. The high level of
consumer debt is particularly worrisome (it is at record
levels) because even a minimal increase in interest rates
causes a lot more interest to be charged!!! This has the
potential to slow the economy. <br><br>So tomorrow's
meeting is important indeed. Once action is taken, we
have the potential for a short term rally, as the last
remaining uncertainty over the market will have been
lifted, if only temporarily.<br><br>Brian
The Nasdaq 100 (QQQ) formed a picture-perfect
hanging man candlestick formation 11/12/99. This is an
excellent reversal setup, especially with the uncertainty
over next week's FOMC meeting. A rate hike there will
topple this index. <br><br>I plot support at 124, but
will buy to cover at 132 and take a quick profit. I
shorted at 143.50 on 11/12/99.<br><br>Brian
With all of the recent records, while other indices languish, Nasdaq 100 is
looking quite overbought right now. A 10% correction is a minimum profit to be
made when shorting this one.
Last week Weingarten and Realty INcome REITs were
both upgraded by different brokerages. I noticed that
several of my REITs floated about 5% upward last week.
This could be a sign of more good things to come,
although interest rates still remain the dominant factor
overhanging this sector.<br><br>Technology will perpetually
become obsolete -- that might make a lot of money for
people lucky enough to keep picking the winners. I'll
stick to REITs, because real estate is a limited
resource. Traditionally, real estate has been the oldest
investment -- important enough that most wars have been
fought beacuse of land, and land alone.<br><br>brian
Reiterating a common theme of the past month,
most major markets seem to be nervously awaiting
information. Why is this? Most of the recent information has
been bad. Perhaps the markets want something to show a
bottom has been reached. <br><br>This is not close yet,
I believe. A quick glance at a long time frame
interest rate chart shows we are only beginning the upward
movement from the interest rate nadir of early this year.
Rate hikes would continue for at least another 1 - 1.5
years to reach their historical recent peak of 8%. IF
the markets continue to behave this nervously until
that happens, we are in for much more downside action.
The $TYX (US 30-yr bond yield) has just crossed
above its 200-day moving average, and MACD is showing
continued rising trend.<br><br>This indicates on ongoing
long-term trend. This will be unfortunate for the stock
market, for the odds are turning against making money in
this "longest bull market ever." Wake up. My stocks
aren't higher this year, are yours?<br><br>Any new
investments should be put into bonds. I find bonds too hard
to trade, and like the ease of bond funds. MRF and
MHY are my favorites, and they trade at 10-20%
discounts to their actual bond market value. Not exactly
internet-style valuations and I like that. Oh yeah - they pay
MONTHLY dividends of 9-12%APY too. Definitely
un-net-like.<br><br>leuk
Visit my daily commentary page. It is updated daily with the best charts i can
find.<br><br>Send me your links; I'll add them to the links page.<br><br>brian
PrimeOutlets.com is PRT. They are spinning off
the .com as an IPO in the spring, with 10-1 shares to
be distributed to current shareholders. That's the
best way to get on the ground floor of an IPO that
I've ever heard!<br><br>Oh yeah, they pay a 15%
dividend that is tax-free. I thought you might like that
part too!<br><br>This one is taking off. You heard it
here. Going for $7.50, at only 60% of their book value.
The entire REIT industry is in a slump, and this one
is no exception. The market hasn't even priced in
the effect their IPO will have.<br><br>leuk
USU (USEC, U.S. Enrichment Corp.) is paying 11%
yield currently. Review of their chart shows they were
trading 30% higher only a few months ago. They trended
down largely because of interest rate hikes, since
they behave much like a utility stock or bond. There's
easy potential for a 20-30% price appreciation, and
you collect 11% dividends until that happens. Not
bad.<br><br>shark
Down 21% today after posting a loss worse than
expected. Note that they plan to return to profitability
within the next 2 quarters. I wouldn't buy until it
settles out though.<br><br>With Asia, the largest
airplane purchaser, recovering, look for improved
performance in the next 1-2 years.<br><br>It is unclear if
this will affect the rolling nature of
TIE.<br><br>brian
Even I, a devoted gold bug, never predicted the
huge advance in gold this week. I knew we'd see an
uptick, but that doesn't come close to describing the
rocket that we've seen known as gold. <br><br>I had 400
shares of PDG, which is up 70% this week. Even internet
stocks are jealous of that!!! <br><br>Who'd ever predict
a return like that with GOLD???<br><br>Yeah, i had
a good week. But I've been waiting several months
for that. I rode gold up on its last spike, but this
one seems more likely to be sustained. We'll see. If
it dips, I'm buying more!!<br><br>brian
Wow. When I initially pointed this out as a
rolling stock, I was understating the case quite a bit.
This stock just completed a 100% roll. Maybe it was
because of takeover rumors in the metal industry. Who
cares why. The only question is whether it can do it
again. I have my buy order in at $6.50. The only problem
might be an upcoming bear market. But this is the
world's largest titanium producer. They'll be around. And
the stock has proven it'potential. Might be safer to
wait for it to bottom out, though, before buying back
in.<br><br>brian
I sold this one WAY too early! I could have doubled or even tripled my return by
waiting an additional 3 weeks.<br><br>Looks like it's finally headed back down.