Introduction to Oil Company Financial Analysis

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Bharatbook.com is proud to announce the new report -Introduction to Oil Company Financial Analysis- (http://www.bharatbook.com/detail.asp?id=210).

There has always been a bit of magic in the stock market, especially when it comes to oil companies. When the oil industry and the stock market get together, the affair is usually dynamic and not always pleasant. Basic principles are widely understood in the financial industry, but the terminology and analytical techniques can vary greatly. This book is written for the nonfinancial shareholders, managers, and oil company employees interested in the forces that influence stock values. The bottom line in any company is expressed in the language of finance. This book explains financial concepts in a nontechnical, practical way so that nonfinancial professionals and others may understand and appreciate this aspect of the business.

The value information found in this book includes:

Abbreviations and expanded definitions of key terms

Energy conversion factors

Reporting systems & statements

Stock tables explained

1. Introduction: Oil Prices; Diminishing Supplies and Increasing Demand; Mega Mergers; The Stock Market

2. Fundamentals of Valuation: Market Value; Fair Market Value; Technical Analysis; Dow Theory; Fundamental Analysis; The first step-Economic conditions; The second step-Industry analysis; The third step-Company analysis; Asset- vs. Income-Based Techniques; Asset-based valuation concepts; Control premium; Income-based valuation concepts; Efficient Market Hypothesis; Random Walk Theory ; Catch-22; Niels Bohr-Early EMH proponent; Stock Quotations; Accounting Value vs. Economic Value; Future and Present Value Theory; Future value; Present value; Annuities; Perpetuity; Present value tables; Internal Rate of Return; Cost of Capital; Cost of debt; Cost of preferred stock; Cost of equity; Capital asset pricing model; Summary

3. Accounting Systems for Oil and Gas: Generally Accepted Accounting Principles; Accounting concepts; Governance, transparency, and disclosure; Reserve Recognition Accounting FC and SE Accounting; SE accounting; FC accounting; Ceiling Test Limitation; Book value, SEC value, and FMV of reserves; Depreciation, depletion, and amortization; Cost Depletion and Percentage Depletion; Summary and Key Concepts

4. Financial Statement Analysis: Annual Report; The Income Statement; The Balance Sheet; The Statement of Cash Flows ; Form 10-K; Form 10-K Oil & Gas Reserves; Financial Analysis; CVX financial statements; Quick look; Ratio Analysis; Analytical perspectives; Ratios; Liquidity ratios; Profitability ratios; Activity ratios; Dividends; Valuation ratios; Energy ratios; Ratio Roulette; CVX; CVX Highlights 2001; Summary and Key Concepts; How much is too much debt?

5. Valuation of Common Stock: Guidelines for Estimating Value; IRS guidelines; SEC guidelines; Book Value; Book value multiple; Debt-adjusted book value multiple; Adjusted book value; O&G Properties; Long-term Investment in Stock; Off-Balance-Sheet Activities Involving the Cost & Equity Methods of Accounting; Consolidation and minority interests; Off-balance-sheet assets and liabilities; Long-term leases; Synthetic leases; Litigation; Environmental Liabilities; Exxon Valdez spill in the Prince William Sound, 1989; DR&R-Abandonment; Off-Balance-Sheet Commitments Drilling Commitments; Summary; Discounted cash flow analysis Adjustments; Net income; DD&A; Deferred taxes; Extraordinary items; Other adjustments; Exploration expenses; Research and development; Interest expense; Free cash flow; Operating income multiple; Comparable sales; Replacement value; Combined appraisal techniques

6. Competitive Comparisons: Individual Investment; Institutional Investment; Employment; Benchmarking M&A Potential; Identification of Peer Group; Line of business; Size; Market or location; Other considerations; Identification of Comparison Criteria; Study the sector; Sources of information; Identify the industry or sector concerns; Integrated O&G industries; E Drilling; Refining and marketing; Utilities

7. Segment Valuation: Proved Reserves; Acreage; Transportation; Pipelines; Tankers; Refineries; Industry Structure; Financial Analysis and Evaluation of Refineries; Nelson Complexity Index; Refinery value dollars per barrel per stream day; Valuation of Chevron and Texaco refinery segments; Marketing Outlets; Gas stations; C-stores; Truck stops and travel plazas; Hypermarkets; Marketing Trends

8. Value of Reserves-in-the-Ground: Value of an Oil Discovery; Value of Producing Oil Reserves ; Value of a Gas Discovery

9. Corporate Restructuring: The Language of Corporate Restructuring; History; Merger waves; M&A driving forces; Spin-off MLP; LBO; Share Repurchase; Targeted Stock; Restructuring; Fair Price Requirement

10. Legal and Tax Environment for Mergers: Laws and Regulatory Agencies; Sherman Antitrust Act of 1890; Clayton Antitrust Act of 1914; State antitrust -Blue Sky Laws- and M&A legislation; FTC Act of 1914; Securities and Act of 1933 Securities & Exchange Act of 1934; The Celler-Kefauver Antimerger Act of 1950; Uniform Securities Act of 1956–Blue Sky Laws-; National Securities Markets Improvement Act of 1996; The Williams Act; Hart-Scott-Rodino Act of 1976 Tax Environment; Accounting methods; Pooling of interests; Purchase method; The Transaction Structure; Tax-free transaction; Types of corporate reorganization; MLP; SOX; Conflict of interests; GAAP

11. Valuation of Bonds and Preferred Stock: Bonds; Bond yields; Bond ratings; Preferred Stock; Cumulative preferred stock; Convertible preferred; Tax considerations

Appendix 1 Abbreviations; Appendix 2 World Energy Statistics; Appendix 3 Production Statistics for Key Energy States 1989, 1999; Appendix 4 State Severance and Ad Valorem Taxes 2001; Appendix 5 Crude Oil & Gas Prices; Appendix 6 Energy Conversion Factors; Appendix 7 Present Value of One-time Payment; Appendix 8 Present Value of an Annuity; Appendix 9 Natural Gas Products; Appendix 10 Information Sources; Appendix 11 Reporting Systems & Statements; Appendix 12 Enron Appendix 13 Stock Tables Explained; Appendix 14 Charts & Technical Analysis; Appendix 15 Energy Sector P/E Ratios; Appendix 16 The Reinvestment Assumption; Appendix 17 Value of Information in the Public Domain; Appendix 18 Expanded Definitions of Key Terms; Appendix 19 M&A Jargon; Glossary For more information, kindly visit: http://www.bharatbook.com/detail.asp?id=210

Posted in: Finance

How To Overcome Financial Problems In Marriage And Get Your Confidence Back

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With the divorce rate hovering around (and over) 50% its important to understand the predominant reasons couple split so that you can do your

best to be successful in those areas. Relationship exerts assert that financial problems in marriage are one factor that puts a strain on marriages

and has the potential to ruin the marriage. This is why it is essential to learn how to overcome financial problems in marriage and get your confidence back.

Create a financial plan- Experts assert that only 23% of married couples have a financial plan, so that leaves a good percentage with no plan,

which can lead to financial stress and problems. This being said, your first step to avoiding and/or overcoming financial problems in marriage is

to sit down and come up with a financial plan. If youre having financial issues, discuss the reasons why and come up with some solutions, as

sometimes it helps to see things on paper.

Budgeting is a must-Create a workable budget that both of you will adhere to. List all of your income and expenses and create a budget that

works for you. Cut out all unnecessary spending, take on more work if possible, and get that debt taken care of. As you both do your part and

work side by side in tackling your issues, youre more likely to get your confidence back and see success.

Discuss the root of the matter-You dont just wake up one day with a host of financial problems. Most financial distress happens incrementally as

people spend more than they actually make. The credit card debt grows over time and before you know it you can be so much in debt you feel

trapped with no escape. Discuss why youre in the spot youre in and do what it takes to reverse it. If you purchase things to feel happy, find

other ways to get happy that dont involve spending money. If you are trying very hard to keep up with the Joneses, make a decision to stop. Stay

within your budget no matter what and youll begin to notice less financial problems in marriage and more confidence.

Get financial help-If you really feel trapped, go see a financial counselor who can help you create a financial relief plan. They are professionals for

a reason and can help you get your financial picture under control. They are also someone to be accountable to, which helps some people to

change their spending habits.

No matter what financial problems youre having in your marriage, you can begin to take steps to resolve them and get your confidence back.

Remember that it wont happen over night and thats all right. Little by little you can get out of debt and begin building your savings. It will require
self-control and discipline, but you can do it!

Posted in: Finance

Thinking About A Career In Forensic Ballistics

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If you’re searching for a career in forensic ballistics you’re obviously interested in forensics itself and firearms. This exciting division of forensics was probably first employed in Court to steer towards a conviction in London in 1835. Since then, this science has certainly become considerably more challenging.

Forensic ballistics involves the collection, identification, classification and analysis of evidence in relation to firearms in criminal investigations. This may involve identifying tool marks (or breech marks) that can be transferred from the weapon to a fired bullet and bullet fragments as well as the trajectory of the bullets fired. Other areas include gun powder residue analysis, fingerprints, fibres and blood associated with the weapon or bullets. As with many areas of forensic science, ballistics works closely with other departments including the law enforcement agencies.

The firearm itself does not need to be located to obtain a match, and indeed, this match doesn’t always require a lot of effort on the part of the forensic ballistics expert. The FBI and the specialist Firearms-Toolmarks Unit, keep a fully integrated national database referred to as Drugfire. When facts are put into the database, it will seek a match with other information and flag this up to the user.

If you’re considering a career in forensic ballistics and expecting a top salary, forget it! Once you leave college, and depending on any past experience you may have, you may expect an average of between 22000 to 35000 dollars in the United States. Increments are typically paid every six months or so depending on how you advance. The income is low as you continue to be in training for a minimum of a couple of years after you start, so dont expect to be heavily associated with anything too serious to begin with.

Your on-going training will involve a considerable amount of further reading on all relevant areas of law such as identifying firearms, wound analysis, different ammunition etc. You will also need to attend seminars and courses to make sure you understand how to handle evidence, the best way to safety assemble and disassemble firearms and microscope techniques. You will end up amply trained in how guns and ammunition are manufactured, how to give expert testimony in court and also attend many more lectures and seminars – much like being back in college! As with any forensics career, learning is dynamic as new approaches and machinery is constantly evolving.

A career in forensic ballistics is just that, a career for life. If you’re a bit uncertain, think hard before going down this road as it is a long one. It will be your job to thoroughly investigate the evidence and try and keep a pace ahead, and when required, to give clear and explicate evidence in court.

Posted in: Career \ Tagged: ,

Wd Gann – Time And Price Analysis In Trading Forex

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One of the earliest masters of time-price analysis in trading was the legendary trader WD Gann.

I started off my trading career in stocks and shares and it was when I discovered the world of trading commodities and futures that I heard of WD Gann.

The most important teaching of WD Gann that I personally learnt came from his famous statement:

“When time and price is squared ( or meet ), change is inevitable”

I have found this to be true in many, many cases…too many to enumerate, and this occurs across all freely traded markets in the world, irregardless of whether it is stocks and shares, forex, commodities and futures or e-currencies.

With time-price analysis, it is possible for you to compute the time day for a possible change in trend, and to forecast the possible price – once both the time and price “meet” accordingly, a turning point is forecasted.

In forex trading, specific variations of time-price analysis is used by many of the forex traders who are making good money in their trades. One specific variation is the use of PRICE-ACTION analysis, where you do not need any indicators, but by studying the price action of the currency pair you are trading, you are able to take IMMEDIATE action on your trade.

How can price action help you?

1. There is no battery of confusing indicators that you need to study to take any trading action- only price is involved- so you can quickly KNOW what trading action to take.

2. Every trading signal is CLEAR, and without doubt- no maybe it will go this way or that way, so there is no wondering whether you should be in the market or not.

3. Can be applied as long as there is a price chart- so no expensive trading software required

4. Can be applied across all time frames – it is easy to maintain price charts across several time frames.

5. Know the exact projected price levels to trade off- so you can very often get very near to the lows and sell very near to the tops, taking the sweetest part of the moves.

In the world of trading, what we need is really clear cut trading signals that can tell us the turning points of the trades…and price action analysis helps us do just that.

So if you are trading forex, knowing when time and price meets for the projected change in trend in accordance to WD Gann teachings will help you in a great way to pinpoint turning points in the forex market. The use of price-action analysis has proven to be useful to many forex traders and it can help you too.

Posted in: Forex \ Tagged: , ,

The Importance of Market Research Companies in Promotion of Business.

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Online market research is one of the best marketing research tools
for the companies which require the latest market information to decide
its marketing strategy to ensure the present and future business sales
for its products and services. Today, the business research is one of
the vital parts of input, which provides the current information
regarding the market and potential customers. This information helps in
making the business strategy and the focus towards the niche market
regarding the advertising of the products and services of the company.
It also helps in increasing the sales of products and service and
increase the revenue.

About Market research companies

The main
function of the market research companies uk is the help their clients
to grow at the good pace and get the best share of the consumer. To that
end, they provide you with the best market reports and stats which are
prepared with in-depth industry analysis. Whether it is a new start up
company or a growing business or a multinational corporation, it is good
to hire the market research agency to get knowledge about the potential
sales and niche market for existing products or new products before
deciding any type of business strategy.

The business research
report should include various points such as competitors and their
position in the market, future trends and the customer’s perspectives of
the products and their features. Hiring a market research company to
know about these things can be labeled as the right decision for the
short-term and long term industry growth of any company.


The main policy makers of any business house continuously keep an eye
on the future trends and think about the potential clients when making
the business strategy. When analyzing the potential business in future
in a specific market segment, they have to check the past and present
market trends. This is possible by sponsoring different types of
industry surveys which target different market and age segments. These
indistry surveys not only interviewing people about their opinion about
any product or services but also is designed to know about their likes,
dislikes, needs and tastes, requirement of new features in any product
etc. The industry surveys also help the companies by getting information
about the current market trends and prediction of future trends for any
specific products and services.

The company also retains the
research analyst’s team which analyses the current market scenario with
the help of many online and offline software tools specially designed
for the purpose. In addition to that, they also collect different
information from online databases and reports to make the business
strategy for the promotion and sales of company products and services.

Posted in: Business \ Tagged:

Risk Free Forex Trading Strategy

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Forex trading has become the recession proof business of 21st century. There is no better way to make money from home than forex trading. You only need a computer and a good internet connection to start. However, many people still afraid and consider forex trading to be risky. Well in this post, I will give you a risk free method.

Anything done without education and training is bound to fail. You cannot become a good tennis player by simply holding a tennis racket. Same with forex, you need education. The good thing is that now days, you can find very good educational resources online. Just Google, forex trading course and you will come across many websites that will tell you almost everything about forex trading in simple and easy terms.

Now once you feel confident that you have learned a few good forex trading strategies, you can open a demo account. Demo account gives you the privilege to trade without losing your actual money. You will get the real data but you will be using virtual money. So you can practice the strategies that you have learned without being afraid of losing your money.

But here, I will tell you that most of the people now use forex robots. Auto forex trading has become popular with the introduction of metatrader platform that gives you the ability to write programs in MQ4 script. A number of good programmers and expert traders have teamed together to develop good robots also known as expert advisors that can trade on your behalf 24/5. Dont forget the forex markets are closed on the weekends.

Visit my blog to read more on different auto forex trading systems. There are two very good auto forex trading systems that you can try. Both the systems come with 60 days money back guarantee. Try anyone of the system for 60 days on your demo account. If you feel that it works for you, start live trading otherwise asks for a refund. How much money you have lost? Not even a single cent. Now this is the risk free forex trading strategy that you should not miss.

Forex trading is a great way to make a fortune working from your kitchen table. Dont miss this opportunity. You only need a little bit of effort and commitment and you will succeed. I have given you a very safe risk free method to trade that you can use. Visit my blog where you fill find lots of material on forex trading strategies. GOOD LUCK!

Posted in: Forex

Forex Hedging Strategy

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What exactly is Forex hedging? Basically, this is a strategy that is utilized by many Forex traders as a way of reducing risk levels typically associated with the Forex market. If youre unfamiliar with it, it is because youre still rather new and havent been properly acquainted with the different techniques that you can use to protect yourself from possible loss. The strategy involves having to buy and sell currency pairs so that they would be protected from any fluctuation in exchange rates. To make things easier, think of it as an insurance policy that you would need to purchase in order to protect yourself from any accident that might cause you significant financial losses. However, it will not be able to protect you 100%. Youll still feel the negative impact of the incident but it will not be as great a sit wouldve been had you not taken any precaution.

To effectively make use of Forex hedging, you would need to make use of several Forex trading indicators that should help you make predictions when it comes to possible market movements. A couple of the most commonly used FX trading indicators include Bollinger Bands and Simple Moving Averages. However, there are more options so do acquaint yourself better with them. These indicators, if they are capable enough, would help minimize risks and make you a more efficient trader as well. Pair this with hedging strategies and youve got quite the recipe for Forex trading success. As for hedging strategies, you have quite a number of different options to choose from including making use of derivatives in future contracts, using the difference between two interest rates and using several pairs of currency.

After youve chosen your strategy, you can then apply it onto your trade. Keep in mind that you must monitor the markets movements because you would need to adjust your decisions accordingly. After all, there is no one size fits all strategy and as such, you need to keep changing just as much as the market does. So always be on your toes.

So there you have it, just some of the things that you must know about before you give Forex hedging a try.

Posted in: Forex \ Tagged:

The Etoro Forum The Efficient Approach To Forex Forums

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The eToro forex forum, thanks to its wealth of forex information and discussion topics, can seem a little daunting at times. That is why it is important to know how to approach such a valuable educational and informational resource in order to make the best of it. Going through each thread individually in search of the question or issue you are interested in can be exhausting and futile. The eToro moderators do a superb job of sorting out the various threads into their categories, but the answer you’re looking for might very well be hidden in a thread whose title has nothing to do with it. How then can you get the information you want without having to read the entire forum?

The answer is simple: use the forum’s search function! When you enter the term you’re looking for the search engine will do the work for you by finding any post or thread in which the term is mentioned! It seems obvious enough, but most people are tempted to try to find the answer themselves before they realize that the forum is basically a searchable database, a fact that it would be in anyone’s best interest to take advantage of.

Not that there isn’t a lot to be said for just browsing the forum with no specific intent. Many times you will encounter things that you would never have thought to search for exciting new strategies, innovative approaches and future speculations.

And then of course, there the most sure fire way of getting an answer to whatever your question or query may be: simply start your own thread. Even if no fellow trader comes to your aid, which is highly unlikely, our forum moderators will be only too happy to give you the benefit of their forex knowledge and expertise. It may be a slower way of getting answers, but this way you are sure to get a direct answer and you will also be adding to the informational database for existing and future forum users.

In any case, the eToro forex forum is there for you to use and to enhance your forex knowledge. Learning to use it to your advantage can make a huge difference to your forex learning and forex trading experience. For those traders that just starting out in forex trading, it is doubly important to participate in eToro forex forum. If you have any trouble understanding a forex concept, or if you have any question relating to forex, posting your query in the forum will get you various answers within minutes.

Posted in: Forex

Employment Twc

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Employment Twc

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After deciding on the right blend of wire, telephone, and Road Runner High Speed Online all of the services, cables, modems, and cable boxes will be installed by a trained Time Warner Cable employment twc pro. Their work is continuing and they are in and out fast doing the job right on the first time. After primary installation any issues or Problems can be direct to the high quality customer service agents at Time Warner Cable and Road Runner High Speed online .

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Time Warner Cable has developed the best phone, cable, and net on the market. Their crystal-clear, fiber optic telephone service is unparalleled, their huge choice of channels and films on demand provided without delay through wire will never be excelled, and their Road Runner High Speed Online Internet is the quickest and most reliable. Learn more about employment twc.

Posted in: Employment \ Tagged:

Tips For Growing Your Small Business

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Growing a small business is a topic that any business owner should be
interested in. The difference between growing a small business or just
floundering around comes down to a few different aspects.

How much planning do you do? Growing a small business
takes a lot of planning, A lot of regular planning. The most successful
businesses all take planning very seriously.

What kind of
measuring system do you have in place? Being able to have access to the
vital metrics of your business on a regular basis is how you stay on
track. What metrics to monitor is something that is different for every
business. There are some core items like your P&L and balance sheet
that all businesses should keep an eye on. Others might be profit per
customer, profit per employee, referral rate, complaints per customer
and complaint resolution time. This is a very short list. Start figuring
out what metrics will be most beneficial to your business.

Every
business has finances, expenses, profit margins, and what you need to
do is start monitoring them very carefully. Keep track of how many sales
you make monthly, how many customers return to you, how many customers
don’t return to you, how are customers finding your business, which
advertising methods are getting you the most traffic and so on. If you
keep track of all of these stats, I guarantee you will find many areas
where you are underperforming and where you can maximize your approach
to maximize profits.

Another Tip that brings more traffic is to
search Google keyword tool for all the different keywords phrases and
different combinations your customers may be searching for. Download
them and paste them in the ad along with the zip codes to maximize your
chances of being found. Always post your websites URL in the ad using
the http. This creates a in coming link for your main website which will
help increase your search engine optimization rankings. Always title
your ads with your main keyword in mind. For example if your company is
Joe’s construction and you are looking to find some roof jobs, I would
title my ad Roofing contractor then the name of the city.

One
of the fastest ways to acquire more customers for your business is to
be tracking the ways your business is successfully obtaining customers
currently, and then simply do more of that.

Another good way to
grow your business is to be creating a mailing list of your current
customers, and then mailing to your customer list and giving them
special offers or special promotions. Perhaps even give them limited
time coupons or incentives for making referrals to your business.

Research
has also shown that customers buy based on perceived value and not on
price. So look at ways to increase the value of your products or
services. A quick way to find out what kind of value you should be
offering is to ask your customers. Calling them or asking them to
complete a survey about your products and services will help you to find
out what your customers are wanting, demanding or wishing for. This
information can help you to add value, improve or develop products to
keep your customers happy and buying more.

Every time you finish a
job and have a satisfied customer, give them a few of your company
leaflets or cards with their name written on them. Ask them to give the
leaflets to people who may be interested in your service and tell them
that if you receive one of the leaflets back, which subsequently results
in an order, then you will pay them a commission on the first sale.
Your satisfied customers who are already recommending you will go out of
their way to spread the word.

Posted in: Small Business \ Tagged: