More investors are now inquiring about Coalbed Methane exploration companies.更多投资者正在询问煤层气勘探公司. Just as uranium miners were flying well below the radar screen in early 2004, coalbed methane exploration may very well be the next very hot sector later this year and next.就像铀矿工飞行的雷达屏幕上,2004年初,煤层气勘探很可能在下炎热部门今年晚些时候和明年. Historically, coalbed methane gas endangered coal miners, resulting in alarming fatalities early in the previous century.历史上,煤层气煤矿瓦斯危害,造成死亡人数惊人,在上个世纪初. This is the fate suffered today by many Chinese coal miners in the smaller, private coal mines.这是许多中国人的命运,今天遭到了小煤矿、私营煤矿. Typically, the methane gas trapped in coal seams was flared out, before underground mining began, in order to prevent those explosions.通常,被困在煤层甲烷气体被爆发出来,然后才开始地下开采、为了防止这些爆炸. Rising natural gas prices have long since ended that practice.天然气价格上涨早已结束这种做法.
Today, coalbed methane companies are turning a centuries-long nuisance and byproduct into a valuable resource.今天,公司已经将煤层气百年悠久滋扰及副产品转化为宝贵的资源. About 9 percent of total US natural gas production comes from the natural gas found in coal seams.共有约9%的美国天然气产量来自天然气发现煤层. Because natural gas prices have soared, along with the bull markets found in uranium, oil, and precious and base metals, coalbed methane has come into play.由于天然气价格大幅飙升,随着斗牛场发现铀、石油贵重金属和基地,煤层气已开始发挥作用. It is after all a natural gas.但它毕竟是一个天然气. But because it is outside the realm of the petroleum industry, coalbed methane, or CBM as many industry insiders call it, is called the unconventional gas.但因为这已经超越境界石化、煤层气、或煤层气作为业内许多称之为,所谓超常气. It may be unconventional today, but as the industry continue to grow by leaps and bounds, on a global scale, CBM may soon achieve some respect.今天可能是传统的,但由于业继续增长势头迅猛,在世界范围内,煤层气可能很快取得一些尊重. Please remember that a few years ago, there was very little cheerleading about nuclear energy.请记得几年前,很少有啦啦队约核能. Today, positive news items are running far better than ten to one in favor of that power source.今天,正面消息运行远胜于12时50分,电源青睐.
Hot Tip!炎热的冰山! Bottoms take longer to form than tops.裤比均居较长形式. Fear acts more quickly than greed and causes stocks to drop from their own weight.行径速度比贪婪和恐惧引起股市下跌从自身重量.
CBM is the natural gas contained in coal.煤层气是天然气载煤. It consists primarily of methane, the gas we use for home heating, gas-fired electrical generation, and industrial fuel.它主要包括沼气供我们使用煤气取暖、燃气发电、工业燃料. The energy source within natural gas is methane (chemically, it is CH4), whether it comes from the oil industry or from coal beds.能源与天然气是甲烷(化学,是甲烷)无论是来自于煤或石油工业病床.
CBM has several strong points in its favor.煤层气有几个特长对它有利. The gases produced from CBM fields are often nearly 90 percent methane.煤层气领域所产生的气体通常来自近90%的甲烷. Which type of gas has more impurities?哪种燃气杂质多? No, it isn’t the natural, or conventional, gas you thought it might be.不,这不是天然或传统,你以为这可能是气体. Frequently, CBM gas has fewer impurities than the “natural gas” produced from conventional wells.常常,杂质少煤层气气比"气",由传统的水井. CBM exploration is done at a more shallow level, between 250 and 1000 meters, than conventional gas wells, which sometimes are drilled below 5,000 meters.煤层气勘探做一个比较浅的水平,250至1000米之间,比常规天然气井有时是钻5000米以下. CBM wells can last a long time - some could produce for 40 years or longer.煤层气井能长久一些可以生产40年或更长.
Natural gas is created by the compression of underground organic matter combined with the earth’s high temperatures thousands of meters below surface.压缩天然气制造的地下有机质结合地球表面气温数千公尺以下. Conventional gas fills the spaces between the porous reservoir rocks.常规天然气藏满位之间的多孔岩石. The coalification process is similar but the result is different: both the coalbed and the methane gas are trapped in the coal seams.煤化的过程类似但结果不同:无论是煤层甲烷气和被困在煤层. Instead of filling the tiny spaces between the rocks, the coal gas is within the coal seams.而油位之间小小的石头,煤气的煤层.
Hot Tip!炎热的冰山! Go with what you know.顺应您了解. If you are a computer software engineer, you might be best suited to analyze software businesses or maybe even internet stocks that use a lot of software in their business.如果你是一个电脑软件工程师、你可能最适合分析软件企业股票,甚至使用了大量互联网软件业务.
One of the past problems associated with CBM exploration was the reliance upon expensive horizontal drilling techniques to extract the methane gas from the coal seams.其中所牵涉的问题,过去依赖昂贵的煤层气勘探水平井钻井技术,提取了煤层甲烷气. Advanced fracturing techniques and breakthrough horizontal drilling techniques have increased CBM success ratios.压裂技术先进水平井钻井技术的突破和提高煤层气的成功比率. As a result, a growing number of exploration companies are pursuing the early bull market in CBM.由于越来越多的公司正在探索早期牛市煤层气. Market capitalizations for many of these companies mirror similar “early plays” we mentioned during our mid 2004 uranium coverage (June through October, 2004).这些公司的市场资本对于许多类似镜子"初扮演"我们提到我们在二○○四铀报导(六月至十月,2004). Industry experts told us there would be a uranium bull market.业内专家告诉我们会有铀牛市. Now, we are hearing the same forecasts about CBM.现在,我们听到了同样的预测煤层气.
Hot Tip!炎热的冰山! Efficient market theory pertains to stocks being always correctly priced, as all the requisite information is available on the current price.效率市场理论所涉及的股票价格总是正确,正如所有必要的资料对当前物价. 2.2.
SEVEN TIPS BY DR.何七小费. DAVID MARCHIONI幼marchioni
We asked Dr. David Marchioni to provide our subscribers with his 7 Tips to help investors better understand what to look for, before investing in a CBM play.我们要求我们的用户提供marchioni大卫博士与他帮助投资者更好地了解七月小费寻找什么,以前投资起到了煤层气. Dr. Marchioni helped co-author the CBM textbook, An Assessment of Coalbed Methane Exploration Projects in Canada, published by the Geological Survey of Canada.博士marchioni帮助合著教科书的煤层气,煤层气勘探项目评估加拿大加拿大地质调查局公布的. He is also president of Petro-Logic Services in Calgary, whose clients have included the Canadian divisions of Apache, BP, BHP, Burlington, Devon, El Paso Energy, and Phillips Petroleum, among others.他也是总统石油事务逻辑卡尔加里,其客户包括加拿大师阿帕奇、血压、BHP公司、伯灵顿、德文、埃尔帕索能源、菲利普斯石油等. He is also a director of Pacific Asia China Energy and is overseeing the company’s CBM exploration program in China.他也是一位处长亚太及中国能源是监督公司的煤层气勘探计划中.
Our series of telephone and email interviews began while Dr. Marchioni sat on a drill rig in Alberta’s foothills, the Manville region, until he finished outlining his top 7 tips, or advices, on how to think like a CBM professional.我们的系列已经开始在电话和电子邮件采访了博士marchioni坐在钻机在艾伯塔省的山麓,佳的地区,直到他完成他概述顶七月小费,或劝告,如何这么想了煤层气专业.
Hot Tip!炎热的冰山! First, some very smart people had been hot on the trail of finding a system of using charts to anticipate stocks’ movements for a very long time.一是一些非常聪明的人被热线索找到海图系统使用预先储存的运动已有很长的时间.
1) COAL SEAM THICKNESS1)煤层厚度
Is there a reasonable thickness of coal?有一个合理的厚度煤炭? You should find out how thick the coal seams are.你应该找出厚厚的煤层. With thickness, you get the regional extent of the resource.与厚度,使你的区域资源的程度. For example, there must be a minimum thickness into which one can drill a horizontal well.例如,必须有最小厚度为其中一人可以钻水平井.
2) GAS CONTENT2)瓦斯含量
Typically, gas content is expressed as cubic feet of gas per ton of coal.通常,瓦斯含量换算为立方英尺天然气每吨煤. Find how thick it is and how far it is spread.厚厚是如何找到它的传播多远. Then, you have a measure of unit gas content.那么,你有衡量股气体含量. Between coal seam thickness and gas content, you can determine the size of the resource.瓦斯含量、煤层厚度之间,你可以决定资源的大小. You have to look at both thickness and gas content.你看看厚度和气体含量. It’s of no use to have high gas content if you don’t have very much coal.这是没有用的,如果你有高瓦斯含量不多煤炭. The industry looks at resource per unit area.业单位面积来看资源. In other words, how much gas is in place per acre, hectare, or square mile?换句话说,瓦斯是多少,每英亩地,一公顷或平方哩? In the early stage of the CBM exploration, this really all you have to work with in evaluating its potential.在早期的煤层气勘探,这一切你真的同考核其潜能.
3) MATURITY LEVEL OF THE COAL3)煤的成熟程度
This is the measure of the stage the coal has reached between the mineral’s inception as peat.这是衡量阶段已达成煤炭矿产以来为泥炭. Peat matures to become lignite.泥炭成熟成为褐煤. Later, it develops into bituminous coal, then semi-anthracite and finally anthracite.后来,它发展成烟煤,然后半无烟煤、无烟煤终于.
Hot Tip!炎热的冰山! Penny Stocks are a penny for a reason.股票是一分钱一分钱一个原因.
There is a progressive maturation of coal as a geological time continuum and the earth’s temperature, depending upon depth.有一个渐进成熟作为煤炭地质持续时间与地球温度、深度视. By measuring certain parameters, you can determine where it is in the chemical process.通过测定某些参数,你无法判定它的化学过程. For instance, the chemistry of lignite is different from that of anthracite.例如,不同的化学褐煤无烟煤. This phrasing is called “coal rank” in coal industry terminology.这一提法被称为"煤级"煤炭行业术语.
4) PERMEABILITY4)渗透率
When you are beginning to think about CBM production, this and the next item must be evaluated.当你想到煤层气已开始生产,这个项目和今后必须加以评估. How permeable is the CBM property?煤层气是如何渗透财产? You want permeability, otherwise the gas can’t flow.你想透,否则气不能流通. If the coal isn’t permeable at all, you can never generate gas.如果不是煤透水可言,你永远无法产生气体. The gas has to be able to flow.瓦斯已能够畅通无阻. If it is extremely permeable, then you can perhaps never pump enough water.如果是非常透气,那么你也许永远也抽足够的水. The water just keeps getting replaced from the large area surrounding the well bore.水取代,只一味越来越大,从四周井筒. The water will just keep coming, and you will never lower the pressure so the gas can be released.刚进来的水,所以你永远不会降低瓦斯压力,可以释放.
Articles by Stock Get the latest articles written by Stock at Scientific American.文章股票得到最新文章股票在科学美国人. Subscribe and receive 12 issues home-delivered or instant digital access to all issues from 1993 through today.订阅12期,接受送递或速食数码查阅所有问题由1993年至今.
5) WATER5)水
In a very high proportion of CBM plays, the coal contains quite a lot of water.在一个非常高的比例,起着煤层气、煤炭含有不少水. You have to pump the water off in order to reduce the pressure in the coal bed.你必须泵水客为了减轻压力的煤层. Gas is held in coal by pressure.气压煤举行. The deeper you go, typically the more gas you get, because the pressure is higher.深层你走,你得气较典型,因为压力较高. The way to induce the gas to start flowing is to pump the water out of the coal and lower the “water head” of pressure.如何促使气开始流出来的水是水泵,降低煤的"水头"的压力. How much water are we going to produce?多少水如何产生? Are we going to have to dispose of it?难道要处置? If it’s fresh, then there may be problems with regulatory agencies.如果是新鲜,那么可能会出现问题,监管机构. In Alberta, the government has restrictions on extracting fresh water because others might want to use it.艾伯塔省,政府限制开采淡水因为别人可能想利用它. One could be tapping into a zone that people use as water wells for farms and rural communities.其中可开采成带,作为水井供人使用的农场和农村社区. Both water quality and water volume matter.无论水质、水量问题. For example, Manville water is very salient so nobody wants to put it into a river; this water is pushed back down into existing oil and gas wells in permeable zones (but which are also not connected to the coal).例如,水很突出佳等人想要把它变成河流;这水是推下来纳入现有油气井渗透区(但也不能连接煤炭).
Stocks Trading Educational Services TradingEducation.com helps traders at all levels learn more about today’s markets and how to trade them successfully.教育服务股票买卖tradingeducation.com各级政府协助业界了解今天的市场和贸易他们如何成功. Reports from analysts plus books, trading courses and other information.分析师报道+书籍、课程和其它交易信息.
6) FUNDING6)经费
To be able to access land and do some initial drilling, i.e. the first round of financing, it would cost a minimum of C$4 million.能够获得土地,做一些初步钻探,即第一轮融资至少要花三400万元. This would include some geological work and drilling at least five or six wells.这将包括一些地质钻探工作,并至少有五、六井. In Horseshoe, that would cost around C$4 million (say 1st round of finance); in Manville, about C$9 million.在马蹄,就得花费400万元左右三(第一回说财政部);在佳约九十亿元. This is under the assumption that the company doesn’t buy the land.这是在假设公司不买地. The land in western Canada is very expensive and tightly held.加拿大西部的土地价格昂贵、严密举行. Much of the work is done as a “farm in” drilling on land held by another for a percentage of the play.许多工作是做了"农场"钻地举办了另起一个百分比. (Editor’s note: During a previous interview, Dr. Marchioni commented about his preference for Pacific Asia China Energy’s land position in China because comparable land in western Canada would have cost “$100 million or more.”(编者按:上次在采访博士marchioni评论对他偏爱中国太平洋亚洲能源的土地位置在中国西部的土地,因为加拿大将可比成本"100万元以上"
7) INFRASTRUCTURE7)基础设施
The geology only tells you what’s there, and what the chances of success are.地质只告诉您的存在,不知道有成功的机会. You then have to pursue it.你有良机. Can we sell it?可以卖吗? Gas prices are “local,” meaning they vary from country to country, depending whether it is locally produced and in what abundance (or lack thereof).天然气价格是"本土",它们的含义不同国家、视是否有什么丰在当地生产和(或缺乏). How much can we extract?多少才能提取? How much is it going to cost us to get it out of the ground?它的成本是多少,我们可以将它钻出来? Are there readily available services for this property?这一服务有现成的财产? Will you have to helicopter a rig onto the property at some incredible price just to drill it?你必须将一台直升机上的价格只相当于一些不可思议操演? Will you have to build a pipeline to transport the gas?你会建立一个管道运送天然气? Or, in China as an example, are there established convoys for trucking LNG across hundreds of kilometers?或者,在中国为例,是否有既定的卡车车队液化气横跨数百公里?
One addition, which we have mentioned in previous articles, and especially in the Market Outlook Journal, “Quality of Management Attracts PR,” it is important that the CBM company have experienced management.另外一个,我们在以往的文章中提到,特别是在市场前景日报"质量管理备受公关",这是非常重要的经历煤层气公司管理. This would mean a management team that includes those who have gotten results, not only a veteran exploration geologist but a team that can sell the story and bring in the mandatory financing to move the project into production.这将意味着一个管理团队,包括那些有了结果,不仅是一位资深地质勘探队,而是能不能卖的故事,引进资金提出强制性项目投产.
There are two primary reasons why many of these coalbed methane plays are being taken seriously.原因主要有两个煤层气具有许多这些被重视. First, the macroeconomic reason is that rising energy costs have driven companies in the energy fields to pursue any economic projects to help fill the energy gap.一是宏观经济能源成本上升的原因是,公司在能源领域的驱动搞任何经济项目,帮助弥补能源缺口. Coalbed methane has a more than two decades of proof in the United States.煤层气具有20多年在美国的证据. The excitement has spread to Canada, China and India, where CBM exploration is beginning to take off.热闹已蔓延至加拿大、中国和印度等国家,煤层气勘探开始起飞. Second, the fundamental reason is that exploration work has already been done in delineating coal deposits.第二,根本的原因在于勘探工作已经做了划定煤炭存款. There are, perhaps, 800 coal basins globally, with less than 50 CBM producing basins.还有,也许在全球800个煤盆地,低于50产煤层气盆地. In other words, there is the potential for growth in this sector.换句话说,有增长潜力的行业.
Automatic Stock Picking Software Stock trading software locates which stocks to buy.自动化软件股票软件股票采摘位于该买股票. This powerful trading software gives exact buy and sell points.这个软件强大的贸易确实给倒腾点. Swing traders and short term traders love it - so will you..秋千贸易商和贸易商短期爱那么你..
James Finch contributes to StockInterview.com and to other publications.詹姆斯雀有助于stockinterview.com和其他出版物. His archived work can be found at http://www.stockinterview.com Feedback is encouraged and James Finch can be contacted by email at jfinch@stockinterview.com他可以洗http://www.stockinterview.com存档工作,鼓励和反馈,可以通过电子邮件詹姆斯雀在jfinch@stockinterview.com
