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If there was only bio gas then why drill a third well?
Follow Aoiff & Erhe long time , can anyone tell me the connection between them . Btw i'm the person has bid on 0.117 . But didn't get much fill .
458 million barrels of oil = The Kina prospect is situated on Block 4 of the Nigeria Sao Tome and Principe Joint Development Zone (JDZ), between Nigeria and the Republic of Sao Tome and Principe in the Gulf of Guinea. Addax Petroleum serves as the operator of the prospect and holds a 45.5% interest." Updated last month!"
In March 2009, Addax signed an agreement with Transocean for the provision and operation of the Deepwater Pathfinder drillship to conduct exploratory drilling in Block 4. The contract entailed for the drillship to drill a total of four wells at a day rate of $600,000. Several months later, the operator announced drilling commenced on the Kina prospect, which is estimated to contain 458 million barrels of oil.
Kina marks the first location to be drilled in Block 4 of the JDZ, which spans an area of 211,700 acres (857 square kilometers) in water depths ranging from 5,906 to 7,218 feet (1,800 meters to 2,200 meters).
http://www.subseaiq.com/data/Project.aspx?project_id=517
Your last sentence proved accurate. LOL!
Total Extends Contract for Pacific Scirocco (Nigeria)
Posted on May 25th, 2012
Pacific Drilling S.A. announced today that French oil major Total has decided to extend the initial contract term for the Pacific Scirocco drillship from one to two years.
The contract provides for further options, to be exercised at the client’s discretion, which could result in up to three additional years of contract term with an escalating dayrate. Estimated maximum contract revenues related to the additional one year term are expected to be approximately $173 million, bringing the rig’s total contract backlog as of May 24, 2012, to approximately $307 million.
Chris Beckett, Chief Executive Officer, stated, “Pacific Scirocco has performed extremely well to date, exceeding historical industry expectations for the start-up of an ultra-deepwater drillship. We are pleased that Total has recognized our performance through this contract extension, which significantly increases our firm backlog.”
The Pacific Scirocco is an upgraded Dual Activity Samsung 12000 design dynamically-positioned drillship capable of operating in water depths of up to 12,000 feet and drilling wells 40,000 feet deep. The drillship has been workin for Total in Nigeria since February 2012.
Looking at ERHE charts and just going by the H/L/C and the session hours can be deceptive.
Of course it is the 'real' chart for the day, but there is often an inside story when one looks at price action.
For example, in yesterday's ERHE chart we see the big red candle and a close down, looks scary. But in reality there was a significant 400,000 share buy reported 3 minutes after the close which would have been a higher close over the previous day.
Now today, we see a nice green candle closing at the tip at 0.125, looks happy. But if we look at time as sales, we see that last trade at 0.125 was just 200 shares, just $25 dollars. What we call "painting the tape". Without it the last volume was at 0.117, which would have made a small green bar with a large wick. Very different appearance.
To me a 400,000 share order has more significance than a 200 share order.
(Note also that today had all of the price action above the open at 0.11 , but only 114,746 shares traded. Volume is a difficult to read as an indicator, but surely the previous day's 1,346,553 volume gave extra emphasis to that days greatly increase volume.)
Not much follow up volume today but I like where the price ended on the week. Especially since we heard no official news.
My suspicions are the following possibilities or a combination of them:
1) Could be investor(s) who have heard about drilling results from Total/ Block 1 early.
2) Could be investor(s) who have heard specifics about Sinopec's decisions for blocks 2 - 4.
3) Could be investor(s) who have information on agreements for Seismic studies in Chad/EEZ/or further JDZ.
4) Could be investor(s) who have information of negotiations/agreements for a drilling ship for Blocks 2 - 4. Sinopec may have made their decision and is contracting a Rig before agreeing to a timeline for the JDA???
5) Could be investor(s) with information regarding advanced negotiations in EEZ partnerships/ IMO state agreements/ Chad partnerships etc.
6) Could be friends and family from Offer who knows what's transpiring short term....
Anyway you slice it, some pretty substantial volume (from an individual investors standpoint - not an institutional standpoint) came in this week. It put a sudden pressure on the bid side which raised the price fast. Since there wasn't substantial pull back or no new news released, I don't think this was any kind of day trader gambling going on. To me, the pattern looks like someone wanting to get in relatively quick before information is released.
I am looking forward to some positive news shortly.......
what are the Chinese 'fishing trawlers' doing out there?, they can't be fishing for whales(that's not ethical!). oh, I know, they are fishing for 'Elephants'! LOL
vip1999, right about the time focus turned to JDZ1 drilling, all ToTal ships turned their Lo-Jack off. Drillships, FPSO's and support ships went poof, goner! Every once in awhile, the Chinese spy trawler (oops I mean fishing trawler) shows up due west of Sao Tome. Damn the French! LOL
Bob
Yes, you will notice I put 'should' in single quotes indicating that while the close of the regular ERHE session showed a lower close for the day, there was a large order reported three minutes later after the close. 400,000 shares at .13 Thus the daily candle was misleading.
Yes that's right, an ERHE rally pattern has higher highs and higher lows.
For example, in the last 4 days we saw a higher high at .14, and a higher low at .10 (the previous low was at .0840)If this mini-rally continues that was the first leg.
For example, looking at the ERHE rally of 2009 on a weekly chart (below) we see a series of higher highs, which I have marked with red arrows, and higher lows, which I have marked with green arrows.
Notice that when the rally was over, we then saw lower highs, which I marked with two yellow arrows, and lower lows, which I marked with two blue arrows.
The first of these were a warning sign that the up-trend rally was over and a down-trend sell-off was beginning. (There was one higher low during the initial decline, but it was followed by a much lower high and a much lower low. The subsequent dead-cat-bounce rally in 2010 wasn't confirmed with a higher low, and was followed by a plunge.)
I settle for .113 when I should have been more patient .
Looks like someone is getting something done in Africa. Is ERHC next? Please note that this company also has Kenyan assets.
http://www.proactiveinvestors.co.uk/companies/news/43287/update-simba-energy-seals-new-guinea-exploration-acreage-43287.html
You might say that or you could also say that no one is selling and that's the reason the volume dried up...
The above could be wrong.
Krombacher
IMO,yesterday, there was a big order but there were sellers, MM took advantage of that to buy low and sell high!
Thanks that is good news.
Cheers
JM
actually, I'm trying to go in the other direction.. have a buy in at .105
Dest_golf
go ahead and put a sell order in at the bid, see how long it last. Homeboy is still out there but with a nice base now.
He's going to pick up everything we through at him cheap.
There is the possibiity that the MM is buying up all the shares offered to fill a single order like yesterday. On the other hand the stock may be dead because the buyer is done.
What is the bid showing for your quote source ? ScotiaBank Trade Freedom is showing .075. However i've had a bid in for "above that" since before open which does not show. Same thing yesterday ?
The volume is blinding.....
oh wait a minute, maybe its just nothing to see... oh well
lol
Looks like the mysterious buyer may have disappeared..
.........."A pattern of higher highs and lower lows will indicate a rally has started"..........
Should be ?
HIGHER lows ?
None of the big oil companies are releasing there deepwater drillships if they have the option to extend. Even with a large supply of new ships coming on online, these ship are 100% utilized. So if you got one, you better hold on to it. It's not that hard to find somewhere to drill and its also not that hard to sublet a drilling slot if you want to.
I will, however, concede the possibility that after David Bovell left ERHC, he decided to employ his secret stock buying strategy that he may have used when ERHC acquired shares in Exile...
...and is the one behind the buying activity lately.
Then it would make a lot sense as to why someone would be willing to pay silly premiums.
LOL!
Krombacher - the above is probably wrong, but would be hilarious if true.
Or let's take another look at this...
...is it possible to trade a million shares over say a 2 week period, while tip-toeing around the MM's with little impact to the share price?
I think so. You buy a little, let the share price go up a little, maybe entice a few investors with that higher share price to sell a little and take money off the table.
And before long, you might be able to acquire a million shares with little fuss or muss.
Would it cost you a lot in commissions? Meh, at about $10 at most brokerages, and maybe even if you piece meal it over 20 trades, that's only about $200.
Compare that with paying this 40% premium from current share price levels...heck, we even saw that some investors were willing to sell to the MM for 10 cents, indicating to me that many still value the stock at about 10 cents...so these mega buyers are definitely willing to pay tens of thousands of dollars above what everyone else seems to think the shares are worth...and why?
Two reasons:
1) They want those share NOW! They can't seem to do a several week long strategy.
2) They don't care about paying tens of thousands of dollars in premium, because they KNOW BETTER. In fact, the more premium they pay, the more CONFIDENT they must be about what they KNOW.
I think something is definitely cooking here...
...but I could be wrong about all of the above.
Krombacher
I'm even going to make a prediction for today, and I'm not even going to use TA to do it...just using my common sense.
Let's say, hypothetically, someone out there, perhaps eating some fish on a drill ship in the middle of the ocean, is sitting on some interesting news, which will be hard to trace as "insider trading" because Total is not ERHC and ERHC is in a whole other block, plus you have international backgrounds and who knows what...
...I would never ever advocate insider trading, but perhaps someone on Sao Tome island doesn't give a flying fish about it...
so let's say that's the assumption.
Ready?
On Monday, in America it is Memorial Day. The markets on Monday are CLOSED!!!
Whoever this guy is floating around on that drill ship must be panicking after having learned that not only could that news leak out over the weekend, but that news could even make it to investors everywhere on Monday (which is a work day every where else in the world) and result in a rush to buy shares Tuesday morning.
NO WAY IN HECK! IS THIS PERSON WITH THIS NEWS GOING TO WAIT UNTIL TUESDAY!! Not when that news could be released before he has a chance to finish buying his shares.
Hence my prediction: Today will be a HUGE buying chasing day with millions of shares traded. This guy is just not going to risk a long weekend, in my opinion.
But the above is probably fantasy and could be completely wrong...
Krombacher
The action is really fascinating:
Volume last couple of days:
May 24, 2012 1,346,600
May 23, 2012 751,000
May 22, 2012 522,100
May 21, 2012 132,900
May 18, 2012 101,600
It's quite a spike in volume, and if we do decide to ignore the closing price because the MM's are apparently manipulating them (or some have even been painting the tape lately), then consider the highs of each day since that number is harder to manipulate:
May 24, 2012 0.14
May 23, 2012 0.14
May 22, 2012 0.11
May 21, 2012 0.10
May 18, 2012 0.10
So whoever it is on May 23 and May 24 is not only hitting large volume buys, but is willing to chase it some 40% higher all the way to the high of the day.
I highly doubt any longs here are doing that...I'm sure most are already all-in and newbies probably haven't noticed yet as it is too early.
In my experience, when someone rushes in and says I'll pay you 40% more for that "thing", either that "thing" is a matter of life and death or that person knows they'll make more based on some news event.
Just sayin', but I could be wrong.
Krombacher- the above may be wrong
What's odd is that they are including the volume in the closing price, even though that volume was after hours. And yet they don't include the value of the trade.
While I agree that all this doji moji candle stuff doesn't really mean much...I think that there is some significance to the T-1 trade.
Someone out there is buying...and willing to pay a premium, a big one. They know something...no one pays a large premium unless they are darn well sure they can garner a higher price than the premium they pay.
The MM was goosing around for every seller throughout the day to fill the order, and I really doubt he filled it totally. 400 or 500 thousand shares is doable without placing through an MM...the actual order size I'm thinking is much bigger.
The above may be wrong.
Krombacher
So ERHE effectively opened and closed up from yesterday, on increasing volume which is the highest in 3 months. We see a big red candle on the chart below, but it 'should' be a doji.
I thought it was commonly known that pre-market and after-hours trades would never be used for an opening or closing price. Where the stock closes at 4pm is the close.
NG News: US State Dept. 2011 Rights report
http://www.state.gov/j/drl/rls/hrrpt/2011/af/186229.htm
STP News: US State Department 2011 Rights report
http://www.state.gov/j/drl/rls/hrrpt/2011/af/186234.htm
NG News: Crude oil theft hits 180,000 bpd .
Friday, 25
From Collins Olayinka
- x NG Guardian -
NIGERIA loses about 180,000 barrels of crude oil per day (bpd) to theft and pipeline vandalism, according to the Nigerian National Petroleum Corporation (NNPC).
The Group Managing Director of the NNPC, Austen Oniwon, who stated this in Abuja yesterday while addressing members of the House of Representatives Committee on Petroleum (Upstream) who were led by their Chairman, Muraina Ajibola, said there had been an increase of about 30,000 bpd over a four-month period.
Besides, the Chairman of the National Taskforce on Petroleum Revenue, Mallam Nuhu Ribadu said that insecurity in Nigeria’s oil and gas installations was contributing to about 30 per cent of total loss of revenue in the sector.
According to the NNPC GMD, the country’s total crude oil loss had outstripped the current crude oil production capacity of Ghana which stood at 120,000bpd, adding that high-profile criminals had taken over illegal oil trading activities from militants.
Oniwon also noted that the nefarious activities of oil thieves did not only have implications on revenue loss to the country but also constituted environmental hazards to the host communities.
Ribadu, who was at a stakeholders’ workshop in Abuja yesterday said: “Security is the reason why we are not getting maximum out of this industry; security is responsible for up to 30 percent of loss of revenue to the country one way or the other. And right now we are being told by so many of the players that we are losing close to 200,000 barrels of crude oil per day to insecurity and if you put that into arithmetic, you know how much we are losing.”
He also noted that figures on Nigeria’s crude oil loss to illegal activities in the creek might not be accurate, considering poor metering mechanisms employed in the sector.
Doubt it has anything to do directly with Sinopec's snail pace, Tryoty, but the attraction and pressures of economic nationalism may be contagious. Under new (lots-of-oil) circumstances, STP could be inclined to follow a similar PIB path for itself and jointly for the JDZ.
Good day,
HP
how can a drillship disappear? doesn't it carries a lo-jack? :)
The PS arrived in the GOG about 4-6 months ago. ToTal was going to use it in JDZ1 drilling after two wells in Egina. All their ships disappeared from Marine Traffic about that time and their whereabouts are not known now. Contract extension just an interesting factoid.
Bob
E*Trade shows total volume for day at over 1,346,000 which would include the added 400K shares traded. Still show .105 as the close price.
Wow the 400,000 share trade sure beats the 100 share or 10 dollar trade to paint the tape we usually see.
Tomorrow should be interesting. Somebody wants shares. Hopefully the buying is from the guys on the drillship then the news will spread to the companies. The Africans,Chinese and the French will be next; and the volume will shoot up to several million shares a day. Then momo penny flippers will pile in; and before you know it, we will have a spring rally. LOL
We can all dream. GLTA Farrell
The JMC controls the JDZ. Set by treaty, the allocation of resources is 60% Nigeria 40% Sao Tome and Principe. I assume the two nations are represented in the JMC equally, but I have never seen it delineated.
The Nigerian PIB could indirectly effect the deliberations of the JMC, but the JMC would have the final authority to rule on any changes in the administration of the JDZ.
From the JDA web site. http://n-stpjda.com/nstpjda/
Introduction
The Nigeria Sao Tome and Principe Joint Development Zone is an area of overlapping maritime boundary claims between the two Countries located in the Gulf of Guinea.
In November 1999, the Heads of State of Nigeria and Sao Tome and Principe directed the officials of the National Boundary Commission of the two countries to commence negotiations on the maritime boundary of the two countries. In August 2000, the Heads of state directed on the adoption of the Joint Development Zone approach since there was no consensus by the two countries.
After extensive negotiations, the Joint Development Zone Treaty was signed on the 21st February 2001 and was subsequently ratified by the Legislature of the two Countries and deposited with the Secretary General of the United Nations.
THE JOINT DEVELOPMENT ZONE TREATY
The key provisions of the treaty are:
Definition of the Joint Development Zone by co-ordinates.
60% of resources to Nigeria, 40% to Sao Tome and Principe.
Treaty to last for 45 years with review after 30 years.
No renunciation of claims to zone by both countries.
JOINT MINISTERIAL COUNCIL
The affairs of the Joint Development Zone is managed by a Joint Development Authority (JDA) that reports to a Joint Ministerial Council.
The Council has overall responsibility for all matters relating to the exploration for and exploitation of the resources in the JDZ, and such other functions as the States Parties may entrust to it.The key functions of the Council are:
to give direction to the JDA on the discharge of its functions under the terms of the Treaty;
to approve rules, regulations (including staff regulations) and procedures for the effective functioning of the JDA;
to consider and approve the audited accounts and audit reports of the JDA;
to consider and approve the Annual Report of the JDA;
to review the operation of the Treaty and to make recommendations to the States Parties on any matter concerning the functioning or amendment of the Treaty as may be appropriate;
to approve development contracts which the JDA may propose to enter into with any contractor;
to approve the termination of development contracts entered into between the JDA and contractors;
to approve the distribution of revenues or products derived from development contracts in the Zoneto the States Parties;
to consider and approve the annual budget of the JDA;
to approve the opening of bank accounts by the JDA;
to vary any time limit imposed upon the JDA under the terms of this Treaty;
through consultation, to settle disputes in the JDA;
to appoint the external auditors for the JDA and approve their remuneration.
The Council, its members and its Secretary are entitled to use the services of the Secretariat of the JDA as necessary for the discharge of their functions under the Treaty.
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© 2008 - 2011 The Nigeria Sao Tome and Principe Joint Development Zone. All rights reserved.
Introduction
The Nigeria Sao Tome and Principe Joint Development Zone is an area of overlapping maritime boundary claims between the two Countries located in the Gulf of Guinea.
In November 1999, the Heads of State of Nigeria and Sao Tome and Principe directed the officials of the National Boundary Commission of the two countries to commence negotiations on the maritime boundary of the two countries. In August 2000, the Heads of state directed on the adoption of the Joint Development Zone approach since there was no consensus by the two countries.
After extensive negotiations, the Joint Development Zone Treaty was signed on the 21st February 2001 and was subsequently ratified by the Legislature of the two Countries and deposited with the Secretary General of the United Nations.
THE JOINT DEVELOPMENT ZONE TREATY
The key provisions of the treaty are:
Definition of the Joint Development Zone by co-ordinates.
60% of resources to Nigeria, 40% to Sao Tome and Principe.
Treaty to last for 45 years with review after 30 years.
No renunciation of claims to zone by both countries.
JOINT MINISTERIAL COUNCIL
The affairs of the Joint Development Zone is managed by a Joint Development Authority (JDA) that reports to a Joint Ministerial Council.
The Council has overall responsibility for all matters relating to the exploration for and exploitation of the resources in the JDZ, and such other functions as the States Parties may entrust to it.The key functions of the Council are:
to give direction to the JDA on the discharge of its functions under the terms of the Treaty;
to approve rules, regulations (including staff regulations) and procedures for the effective functioning of the JDA;
to consider and approve the audited accounts and audit reports of the JDA;
to consider and approve the Annual Report of the JDA;
to review the operation of the Treaty and to make recommendations to the States Parties on any matter concerning the functioning or amendment of the Treaty as may be appropriate;
to approve development contracts which the JDA may propose to enter into with any contractor;
to approve the termination of development contracts entered into between the JDA and contractors;
to approve the distribution of revenues or products derived from development contracts in the Zoneto the States Parties;
to consider and approve the annual budget of the JDA;
to approve the opening of bank accounts by the JDA;
to vary any time limit imposed upon the JDA under the terms of this Treaty;
through consultation, to settle disputes in the JDA;
to appoint the external auditors for the JDA and approve their remuneration.
The Council, its members and its Secretary are entitled to use the services of the Secretariat of the JDA as necessary for the discharge of their functions under the Treaty.
TIME & DATE
SITE SEARCH
PAGES
About Us
Introduction
JDZ Regulations
Licensing Round
Management Staff
Contact Us
FAQ
Geological Summary
Home
JDZ Activities
Development
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Production
JDZ Resources
Commercial And Investment
Non Hydrocarbon Resource In Jdz
News
Gallery And Archives
Latest News
Press Release & Publici
Was The 400K Trade Counted Toward Today's Volume? If not, will it be included with tomorrows volume?
The PIB has an indirect influence on the JDZ which has several dimensions. The direct influence is on Nigeria, as it is a Nigerian bill, but there may be a knock-on effect.
On the one hand, the uncertainty chills Exploration and Production investment in Nigeria. So this could encourage more attention on the JDZ, Equatorial Guinea, and São Tomé. Exploration for Oil at a 10-year Low in Nigeria
Alternatively, for JDZ-1, which Total intends to develop as a field with Egina, if there is any slow down with Egina this could impact JDZ-1. On the other hand, if JDZ-1 is promising, wells could be drilled there first if there were a delay in Egina. The results of the two wells could alter that plan, but Total appears to be willing and on target to push ahead regardless. Note that Total aims to produce more than 1 million barrels equivalent a day of oil and gas from deepwater fields by 2015.
It's logical that the Nigeria side of the JDA will use the PIB as a selling tool in the JDZ.
I would say no as STP IMO wouldn't allow Nigeria to get all the spoils of the bill and they get nothing in regards to JDZ.
No, but it is the one they are using to bring Egina next door to production with. And JDZ-1 is intended to tie into Egina last news.
I have a post coming up on the subject.
Is this the drill ship Total is using in JDZ?
Does the PIB even apply to the JDZ since it is jointly owned by STP and Nigeria?
The PIB uncertainty *could* explain the long Sinopec delays. It's something to think about.
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ERHC's common stock is traded on the OTC Grey Sheets (No Bid/Ask) under the symbol "ERHE."
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on exploration of its working interests in the Gulf of Guinea, off the coast of central West Africa. We are proud of our heritage of visionary leadership that was responsible for ERHC being among the first to identify the possibility of significant oil reserves in what was once an undeveloped oil region of the world. We continue to build upon that heritage by continuing to be willing to take chances and having the commitment to do the hard work necessary to realize the value of our assets.
Today, ERHC has interests in Blocks 2, 3, 4, 5, 6, and 9 in the offshore Joint Development Zone (JDZ) of Nigeria and the island nation of Sao Tome and Principe. The National Petroleum Agency of São Tomé & Príncipe (ANP-STP) on behalf of the Government of São Tomé and Principe has awarded ERHC Energy 100 percent working interests in Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ). In addition to the two Blocks already awarded, ERHC has rights to acquire up to a 15 percent paid working interest in two additional blocks of its choice in the EEZ.
The Company has signed participation agreements with subsidiaries of Addax Petroleum Inc. and Sinopec Corp. The operators of JDZ Blocks 2 (Sinopec), 3 (Anadarko) and 4 (Addax) have secured approval from the Joint Development Authority for drilling locations. Additionally, ERHC continues to pursue other potential oil and gas acquisitions, where feasible.
JDZ Block 2: 22.0%
JDZ Block 3: 10.0%
JDZ Block 4: 19.5%
JDZ Block 5: 15.0%
JDZ Block 6: 15.0%
JDZ Block 9: 20.0%
ERHC will be responsible for its proportionate share of exploration and exploitation costs in the EEZ blocks.
The São Tomé & Príncipe EEZ encompasses an area of approximately 160,000 square kilometers south and east of the Nigeria/São Tomé & Príncipe Joint Development Zone and surrounding the volcanic islands of Príncipe and São Tomé. Block 4 is situated directly east of the island of Principe. Block 11 is directly east of the island of Sao Tome.
Ocean water depths around the two islands exceed 5,000 feet, depths that have only become feasible for oil production over the past few years; however, oil and gas are produced in the neighboring countries of Nigeria, Equatorial Guinea, Gabon and Congo.
The African coast is less than 400 nautical miles offshore, which means the exclusive economic zones of the concerned countries overlap.
Operations in JDZ Block 2
ERHC's consortium partner Sinopec Corp. is the operator in JDZ Block 2. In August 2009, Sinopec commenced exploratory drilling of the Bomu-1 well, which was completed in early October 2009. The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 2 totaled 77 million barrels of oil and 93.9 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 2 totaled 38.3 million barrels of oil and 47.9 billion cubic feet of natural gas (P50).
Operations in JDZ Block 3
The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 3 totaled 27.3 million barrels of oil and 32.9 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 3 totaled 8.7 million barrels of oil and 10.5 billion cubic feet of natural gas (P50). The operator, Addax Petroleum, began drilling the Lemba-1 well in October 2009 and completed drilling in November 2009.
Operations in JDZ Block 4
ERHC's consortium partner Addax Petroleum is the operator of JDZ Block 4. In August 2009, Addax took possession of the Deepwater Pathfinder deepwater drill ship and started drilling the Kina prospect. The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 4 totaled 231.6 million barrels of oil and 245 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 4 totaled 88.4 million barrels of oil and 86.2 billion cubic feet of natural gas (P50). In 2009, Addax Petroleum drilled the Kina, Malanza-1 and Oki East wells.
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2012 (from 10Q)
Weighted average number of shares of common shares outstanding | 738,933,854 |
Authorized shares: 950,000,000
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ERHC Energy Milestones
In May 1997, ERHC entered into an exclusive joint venture with São Tomé & Príncipe. ERHC sought that agreement because it identified the possibility of significant reserves offshore of Sao Tome & Principe years before anyone else did and was willing to undertake the hard work necessary to realize the value of these assets.
All of the proceeds from these sales were received by the Company during the quarter ending March 31, 2006.
Block 11A encompasses 11,950.06 square kilometers or 2.95 million acres (click on map to enlarge). The Block is situated on Kenya's border with South Sudan to the north, Block 11B and Lake Turkana to the east and near Kenya's border with Uganda to the west.
-Link to the June 2009 Sao Tome and Principe AAPG (American Association of Petroleum Geologists) Conference slide presentation in Denver. It shows EEZ Block delineations and much more: http://www.internationalpavilion.com/ip_2005/Denver09_Talks/Presentation%20Sao%20Tome%20&%20Principe%20AAPGv3%20(2)_files/frame.htm
-The National Petroleum Agency of São Tomé & Príncipe (ANP-STP) on behalf of the Government of São Tomé and Principe has awarded ERHC Energy 100 percent working interests in Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ). The ANP-STP has indicated that it expects to invite ERHC to negotiate Production Sharing Contracts (PSCs) on the two Blocks in due course. In addition to the two Blocks already awarded, ERHC has rights to acquire up to a 15 percent paid working interest in two additional blocks of its choice in the EEZ. The ANP-STP has informed the Company that selection of these other blocks will take place at a later date to be determined.
-Another great post on the EEZ can be found here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36450859
-Possible pre-salt oil deposits in the EEZ: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36565661 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36570193 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36596746 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36450859 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43260765
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Operators/ partners for Blocks 2,3 and 4
http://www.addaxpetroleum.com/home (Block 4)
http://www.addaxpetroleum.com/home(Block 3)
http://english.sinopec.com/ (Block 2)
Deepwater rigs
http://www.pacificdrilling.com/
http://www.fredolsen-energy.no/?aid=9048927
http://www.seadrill.com/
http://www.deepwater.com/fw/main/default.asp
http://www.saipem.eni.it/index.asp
http://www.deepwater.com/fw/main/Sedco-702-92C77.html?LayoutID=17
http://www.marinetraffic.com/ais/nl/shipdetails.aspx?MMSI=636014746
Deepwater rigs video's and animations
http://www.youtube.com/watch?v=Ii2zOZh41eA
http://www.deepwater.com/fw/main/Discoverer-Clear-Leader-Begins-Operations-410C1.html?LayoutID=6
Presentations
Growth Company Investor Show 2008 in London
http://www.youtube.com/watch?v=sgXCHO-Ot4E part 1
http://www.youtube.com/watch?v=OQm6SwY5ceo part 2
http://www.youtube.com/watch?v=aaam9Tyh4DE Q&A part
ERHC Web TV presentation to RedChip Conference
http://www.modavox.com/events/redchip/0608/room1.html
CEO Peter Ntephe Interview - on RedChip TV
http://www.modavox.com/events/redchip/0608/ceo_interviews.html
DD web sites
Facts about ERHC/ERHE: http://www.erhc.com/en/cms/?60
FAQ about ERHC/ERHE: http://www.erhc.com/en/cms/?56
http://www.anp-stp.gov.st/eng/
http://www.enercominc.com/
Track drillships marinetraffic.com/ais/default.aspx
http://www.erhc.com
http://finance.yahoo.com/q?s=erhe.ob
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000799235
http://www.otcbb.com/asp/Info_Center.asp
http://www.nigeriasaotomejda.com/
http://www.investorshub.com/boards/read_msg.asp?message_id=5721853
http://www.equatorialoil.com/pages/TechReview.html
http://www.nigeria-oil-gas.com/
http://www.sao-tome.com/englisch/index.htm
http://www.eia.doe.gov/emeu/cabs/nigeria.html
www.ods-petrodata.com/odsp/day_rate_index.php
Industry News
http://www.rigzone.com/news/
http://www.oil.com/
http://www.platts.com/
Articles
The New Yorker, 10/07/2002, OUR NEW BEST FRIEND, by JON LEE ANDERSON,post #3510
http://investorshub.advfn.com/boards/read_msg.asp?message_id=6512250
DAILY INDEPENDANT, Tuesday May 24th, 2005, The long wait for JDZ deal POST #3035
http://investorshub.advfn.com/boards/read_msg.asp?message_id=6479732
Area News & Newspapers
http://www.allAfrica.com
http://www.nigeriamasterweb.com/paperfrmes.html
http://www.nigeriamasterweb.com/newsfrmes.html
http://www.independentng.com
http://www.ngrguardiannews.com/
http://www.newswatchngr.com/
http://www.punchng.com
http://www.thisdayonline.com/
http://www.vanguardngr.com/
http://www.jornal.st/index.php
http://www.tekoilandgas.com/technology/glossary-of-terms
AKPO information
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48439213
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48446472
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ERHE 8K 4-24-2017
http://archive.fast-edgar.com//20170424/AI22B22CZC228JGU22222Z32GOMFIC22Z292/
https://www.otcmarkets.com/stock/ETBI/overview
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