Natural Gas Breaks Three-Year Low

The U.S. EIA said producers added 98 billion cubic feet of natural gas to storage last week

Natural gas plummeted to a new three-year low as heavy surpluses deepen a selloff.

It is the latest leg down for a commodity that has struggled for years under the weight of a record-setting oil-and-gas boom. Production has hovered around all-time highs for about a year, which eventually became too much for prices that had managed to stabilize and outperform most other commodities for the past several months.

Prices for the front-month November contract fell 9.1 cents, or 3.6%, to $2.433 a million British thermal units on the New York Mercantile Exchange. It is the largest one-day loss in seven weeks and the lowest settlement since June 13, 2012.

Gas had managed to tread water this summer and even briefly hit a bull market in the spring because of surging demand from power plants that are switching away from coal. But in recent weeks that demand has subsided along with hot weather and the use of air conditioners, causing surpluses to build up and prices to fall.

The U.S. Energy Information Administration said Thursday morning that producers added 98 billion cubic feet of natural gas to storage in the week ended Sept. 25. It follows a 106-bcf addition last week, the largest weekly additions since early June.

The EIA update is widely considered one of the best measures of supply and demand for the natural gas market. Tudor, Pickering, Holt & Co., a Houston investment bank, had estimated before the data that a weekly addition of this kind would equate to about 3 bcf of oversupply last week.

Storage levels are threatening to start the winter heating season at record highs. Last week’s addition put them at 4.5% above their five-year average level for this week of the year and 15% above their level at this time a year ago.

That helped push prices below those multi-year lows, which could also encourage chart traders to push even lower, said Scott Gettleman, an independent trader in New York. He has been in spread trades Thursday that would benefit as prices fall, he said.

“I just don’t see a reason to rally right now,” Mr. Gettleman added. “You’ve got to wait until at least some cold weather comes in.”

Weather forecasters are predicting a mild start to autumn and heavy East Coast rains from Hurricane Joaquin. Both can lead to soft demand for natural gas, and have traders and analysts expecting more large weekly surpluses in the months to come.


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Convalo Executes Final Binding Purchase Agreements for Hollywood Detox and ARTS; Increases Run Rate Revenues to Over $23 Million and Adjusted EBITDA to Over $5.5 Million

LOS ANGELES, CALIFORNIA–(Marketwired – June 10, 2015) –


Convalo Health International, Corp. (Convalo) (TSX VENTURE:CXV), an acquisition-oriented company focused on rolling up the US addiction rehabilitation market, announced that it executed today a final binding Purchase Agreements for the acquisition of Hollywood Detox Center (Hollywood Detox) and Accredited Rehab and Treatment Services (ARTS), two profitable southern California companies.

Hollywood Detox and ARTS are behavioral health facilities offering detox and residential treatment services for both men and woman in and around the Hollywood and central Los Angeles area.

When added to the outpatient treatment services currently offered by BLVD Treatment Centers, Convalo now has a full service behavioral health platform spanning Hollywood and Central Los Angeles capable of treating patients at every level of the addiction treatment continuum. The combined annual revenue run-rate for this Hollywood and Central Los Angeles business now exceeds $23,000,000 and annualized run rate Adjusted EBITDA now exceeds $5,500,000.

By the end of the year, Convalo will expand this platform to include additional detox and residential treatment centers for both men and women on the west side of Los Angeles.

Three of the companies’ top level executives, Keith Fowler, Brent Ortner and Ryan Newport, will remain on after the transaction and are expected to play key roles in Convalo moving forward.

Terms of the Acquisition

Management has reported combined trailing 12-month revenues in excess of $14 million and Adjusted EBITDA in excess of $3.6 million. This acquisition is expected to increase Convalo’s revenues by over 150% and Adjusted EBITDA by more than 220%.

According to the Purchase Agreements, Convalo will acquire the businesses for a mix of cash and stock. Convalo will pay a total of $7,937,500 in cash and up to 8,000,000 shares or under 3% of the fully diluted shares of the company. Post-acquisition, Convalo will have over $21,500,000 in cash on the balance sheet with which to make further acquisitions. Convalo has no debt.

“We are now a fully established addiction services company in the heart of Los Angeles with over $23 million in revenues and significant profitability” said Mr. Dalsin, Chairman and CEO of Convalo. “While there is a significant positive impact on revenue and profits, this acquisition really only covers Hollywood and Central Los Angeles.  acquisition of the management team gives us the ability to create a similar business in terms of revenues and


Below Average


Open 0.6000 P/E Ratio (TTM)
Last Bid/Size 0.6000 / 231 EPS (TTM) -0.02
Last Ask/Size 0.6100 / 211 Next Earnings
Previous Close 0.5800 Beta
Volume 975,314 Last Dividend
Average Volume 1,198,365 Dividend Yield
Day High 0.6100 Ex-Dividend Date
Day Low 0.5700 Shares Outstanding 159.1M
52 Week High 0.8200 # of Floating Shares 154.8618M
52 Week Low 0.2300 Short Interest as % of Float
DRIP Eligible No

What’s the Best Tax Haven for American Citizens?


More Application Not Analysis Is Needed

Do you have a tax reduction strategy ?

The most important thing that you MUST do is seek advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.

In most jurisdictions you can set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.

Contact Information:

To learn more about asset protection, trusts ,offshore company formation and structure for your business interests (at no cost or obligation)

Email  OR

Telephone  Jack direct at 604-858-3202

Monday – Friday 10:00- 4:00 Pacific Time Zone ( same as Los Angeles)

Do You Have A Plan – or are you just planning to think about a plan ?

Originally posted on International Liberty:

Since I spend considerable time defending tax competition, fiscal sovereignty, and financial privacy, people sometimes think I can give competent advice on how best to protect one’s income from the IRS.

Hardly. Like most people in Washington, I’m all theory and no practice.

Besides, when people ask me about the ideal tax haven for an American citizen, I generally don’t have good news.

I explain that they are already living in a very successful tax haven, but then given them the bad news that only nonresident foreigners can take advantage of America’s tax haven policies. Though we should still be happy about being a haven since the favorable tax rules for foreigners have attracted lots of investment.

With the erosion of financial privacy, the IRS has considerable ability to track your money around the world, so moving your money to an overseas tax haven…

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