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They talked about changing exchanges... nothing about a growth plan.
Its all BS. I don't believe a funkin word anyone from this company says.
Can't believe I bought some ERHE and now hold 3000 shares at .315 and guess you just can't teach an old dog new tricks.
BCNU
Instructmba
Most wanted more Vol. Well we got it. Over 3.5 million shares traded in less than 1 hour and 15 min.
That is great for us traders over and over and over...hunter
are you reading the same thing i am? it appears they discussed the growth plan pretty extensively.
I don't think I've ever been convinced more about our eventual outcome with this investment. The fact that they didn't once mention the MOU's from a few months back are tell tale signs that it was nothing more than a bluff. Not one ounce of direction as per the "growth plan". IMO they'll force the smaller players to pay up or get out. Total will completer the purchase of block one then they go after the meat...IE - US. For a development this large they need the acreage and the bulk has to come through us, no question about it.
Must be a thorn in Peter's side that he can't do anything here but baby sit. All that education and still can't take a piss without Offors nod.
PS- Was Blair there at all?? Not one mention of his name.
Doesn't sound like the company mentioned anything about the growth plan. Not really surprised. IMO we'll never see phase 2. Long-gone and sold. Never had any intention to grow this thing.....IMO
posting a lil on the other board now exceo
Sure would like to hear SOMETHING about the meeting...
Does anyone think Blair was brought on the BOD to help negotiate a buyout/deal with the Chinese? He was Addaxs' finance guy so he'd be on hell of an asset in that department. Just thinking out loud...
I can hear the traders on the other board licking their chops..lol. They sure do come out of the woodwork when there's blood in the streets.
I'm looking to hear what Blair has to say... or even Bovell for that matter.
We'll see.
PS- I hope we get a shocker of an announcement.... just to pizz off the sky is falling crowd.
what's funny about your post is that you just said the very same thing I have been saying, but you want me to stfu. good luck, brother.
you wont get any shareholder value until they post those drill results and I have seen a whole lot of the very same thing out of you, if they dont bring it and bring it quick, you and just a couple of others will be a very small group. There are some guys at the meeting at 3pm who are pretty serious and like i have said in the past are investors, not flippers and traders, who dont give a rats what this management does as long as they get a few pennies everyday.
everyone should be demanding the raw well data, not sitting around with the brown noses.
its a public company , not a private one, and last i checked in a public co, you need to keep ALL shareholders apprised, not one.
good luck
Saw that, was watchin it, hope you got a ton, might load up tomorrow,
AA
Actually a very bullish close with all things considered. Nice doji candle going into sh meeting. Someone picked up some shares today......
Transfer of wealth continues in its true form.
A good news PR after the market closes and before it opens would go a LONG way.
Poor Peter. I hope he took a class in anger management at Cambridge. He's gonna need it!
If there is one time in his career at ERHE to prove himself, this is it. Even a thorough explanation of the situation would do wonders. He just can't play the secrecy card anymore. Time to do something Pete. Good luck to you.....
I believe this post is the most accurate of any I've read in 4 1/2 years.
You speak from a point of authority while admitting you feel blindly led. Have you considered the most likely and probably, that drilling results are not in yet?
I have much disdain for the unmotivated management of this company, but I do recognize their limitations along with their accomplishments.
They have squandered immeasurable opportunity and embarrassed Emeka Offor's name by doing it, but they have got ERHC Energy to drilling when the vast majority said that would never happen.
The score right now is:
Emeka Offor's image, zero.
Ntephe's ability to milk Offor for millions, point Ntephe.
EEZ auctions aren't over until September. Partners and PSC's won't happen until 2011.
Your final sentence negated the rest of your post.
That's my criteria as well, not to make a decision on my position until I see some drilling results. Have to see this puppy out. However, I do have a hard stop of late fall as another venture will take precedent on this investment. I believe we'll see some real numbers and/or action long before then.
I hope we hear some results of the Total/Chevron deal soon, IMO that could be very telling and also could be a big part of the holdup IMO>
Looking forward to the meeting this week. Lets see if our boy Peter has a plan to renew some confidence and shed some light on what the F is going on.
Cheers
Peter may be caught between a rock and a hard place as you say. And we the shareholders are caught between a dog and a fire hydrant! I thought about flying out for the meeting. Lol!...I just don't think looking at management face to face is going to change the scenerio. Like I said, dog and a fire hydrant....and Im not walking away after all these years until I see what's there.
O-C" Yes, It really can be that easy. It is straightforward, does not violate any contract restrctions and is honest. That's why so many of us are upset. We just don't understand why they feel they have to play games and be so secretive. We all want the same thing for our company.
All the best to you and the family.
Thanks Red. I'll have to check it out.
this is really a good post OC...and you are right the time has now come to pass...by putting all those "never gonna be's" out there it did buy time with a few shareholders (maybe) not sure if anyone has really fallen for it fully...so with that said i know a lot of people feel the same way AMJ feels..he/she just a bit more vocal than others...i tend to think we need to start making some noise also...will it help, who the heck honestly knows...but at least it makes me know im not wrong for feeling the way i do about mgmt and really believing enough is enough of the cloak and dagger routine year after year , month after month, day after day and conf call after conf call...just my .47 worth haha
I honestly think Peter is in between a rock and a hard place. They ultimately know that they will be sold, but this can take quite a bit of time and completely up to Offor. So in the mean time...(last 2 years) they tout a growth plan but know they will never really implement anything because in the end its really a waste of time. So they announce a few bs MOU's and some crap about Strand Hanson and a new listing to buy some time. The time that was bought has now come to pass and you have some tired, PO'd shareholders who are demanding answers. What's ole Peter to do, can grow, can't sell (yet), can barely take a piss without Offor's ok.
For once it would be nice to hear an honest answer.....like.. "we eventually will be looking to be bought, but until then we will remain silent and conserve as much cash as we can". "Our desired price is very high, as we believe there is substantial oil in our blocks so it will take time for someone to meet our price."
DONE! Shareholders happy, patience is now renewed and AMJ can finally STFU once and for all.
Could it really be that easy?? ..lol.
Oil Cowboy, congrats on the arrival. It's a gamechanger, for sure. Post up a pix of the little rugrat on The Elephant Fields.
Best,
Red
i think a lot have lost "their sense of direction"...very easy to do when you are being blindly led..
I agree OC. Although I believe we are owed some explanation or confirmed direction, they realy don't have to do or say much of anything. That being said, I am optimistic that the management will deliver something positive to us shareholders. I agree that the buy-out /buy-in scenerio makes the most sense to this investor. If that is the case, maybe silence is what is currently necessary. I just don't know and I've lost my sense of direction. Just holding till I see a better direction. I frankly believe there is substantial oil in JDZ. Just my gut. GLTA. stonemountain
Anything to show that were not going to be sitting idle until results would be excellent. IMO they have no excuse for not implementing a growth plan by now. I hope at least that point is drilled home. That is something they have to be held accountable for.
I'd love to see Sinopec as a partner in EEZ. Would show synergy and confidence in our current agreements in the JDZ.
I can't fathom them going in there with nothing positive to announce.
We'll see.
OC it would be good to hear of a EEZ partner and cash because of same... bwdik...glta Dig.
instructmba Sounds Good.. have a great time with the Lord!
Management certainly has quite the job to do next week. I can't wait to hear what kind of story they have regarding the "growth plan"....lol. They can't seriously think we're buying that load any more. I think anyone with a college degree could have put something together by now. IMO it was all a bluff, right down to the BS MOU's. This company has never had any intention of growth beyond the JDZ or EEZ....ever. Nothing other than empty promises. I'd gladly be proven wrong.
We will be sold, no question IMO. When is the real story though.
I hope the attending shareholders give them the wrath they deserve.
PS- Still curious as to why Blair is on the board?
That could happen... hope not...time will tell...always has...
Oil Cowboy - Congrats - For the Better -- Your life will never be the same.
JMHO
tap
Let's be careful as we don't want to scare away old friends. Just thought I would let everyone know I'm okay and headed for Israel 5/15 to 6/05 for some prayer and relaxation. Gonna take a dip in the Dead Sea and try out that salt water floating power and see if it can really hold up an old bag like me.
BCNU
Instructmba
I always get suspicious when a so called long, whose incredibly up to date on events just happens to pop in and join the fray. BWTHFDIK
Very knowledgeable dude for sure though. Just wouldn't be surprised if he turns negative once he gains a bit of trust with the board. Seen it too many times.
We have Oilphant, what else do we need...lol.
OC hearing you...check this post and poster out interesting read...glta.
Posted by: Curious62 Date: Tuesday, April 20, 2010 3:40:47 PM
In reply to: Jim Long who wrote msg# 210374 Post # of 210551
Are you concerned that the data is being reprocessed or that its a Chinese company that's doing the reprocessing? Reasons for doing reprocessing now may be: 1) they now have have accurate rock density measurements (from well logs/samples). Seismic data migration is based on density assumptions, the more accurate, the more "real" the seismic definition of the structures being imaged, and 2) reevaluation of how gas and oil saturations impact the density characteristics of horizons deemed prospective. Acoustic (seismic) energy is more sensitive to high contrast density conditions caused by gas when encountered at higher angles of incidence. The drill and test data can now help confirm which angles of data (seismic traces/gathers) would most likely identify gas. The more gas, the less oil. Conversely, less gas (in a particular structure), the greater potential for oil. If I were interested in acquiring ERHC, I would like to know if the potential of gas and oil and base my bid accordingly. This, of course, would be data proprietary to the acquiring company but not to ERHC. ERHC should get access to the reprocess data (if the pay) but must do their own modeling. Even using the same data, the many assumptions used in modeling will always yield different answers. Chinese geophysical companies can do very capable wor
I hear ya, same story hear. Been holding since Christ was a cowboy. In hindsight trading this seemed like the way to go, but IMO the bag holders will come out ahead much further. Cause when she pops, she'll really pop!
I wasn't trying to be an ass regarding your post, just speaking my mind out loud. Its all good.
Lets hope there is truth in the EEL numbers and ERHE and Sinopec follow suit with similar PR's. POP!
Cheers
yep....hope I'm wrong too
YES....imho. bwdik...
OC Don't trade...afraid too Pulled, first buy 02/09 2004... bought every year since....NEVER SOLD !!! Think what you will.. but have rode this up and down ...and will do it again FYI. IT's been a long ride... and you my friend ?
Time was flying by before the baby...so yes I can just imagine how much faster it will go now...lol. Enjoying every minute so far....
Lets hope our little investment gives us more time to enjoy the truly important moments in life.
Again, thanks everyone for all the kind words.
OT: OC, Congradulations to you and your wife! Daugheters are the best. Be careful though...you'll be walking her down the church aisile before you know it! Time doesn't march by...it races.
dat
C. I don't expect any big news. drifting I'd think. Hope I'm wrong!
dat
Congrats OC, mine ( only child) is 22
game changer for sure, and wonderful.
AA
I think you know the general consensus of your so called survey. A loaded question if I've ever seen one. Good luck with your trade.
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The JDZ lies approximately 200 km. offshore Nigeria and is adjacent to areas offshore Nigeria where several large petroleum discoveries have been made. The JDZ was established in 2001 following ratification of a formal bilateral treaty between Nigeria and Sao Tome and Principe. The JDZ is administered by the Joint Development Authority.
This Board will be specifically limited to oil/gas companies that operate in the JDZ, Nigeria, and Sao Tome e Principe. Obo-1 has recently been drilled by Chevron with a 51 percent stake, along with partner ExxonMobil with a 40 percent equity holding, and Dangote Energy Equity Resources holding the remaining balance. ERHC Energy, Inc. has Production Sharing Contracts in JDZ Blocks, 2, 3, and 4. Some other companies include: Afren, Addax Petroleum, A & Hartman, Centurion Energy, Equator, Foby Engineering, Hercules, Hyperdynamics Corp., MoMo Petroleum, ONGC Videsh Ltd., Pioneer, SNP -- China Petroleum & Chemical Corp., and Oriental Energy. It is very likely the list will grow!
You may view this site and post on this message board, but we ask that information on this site should not be linked or copied. You may link this site to another site with the approval of only IHUB or the board Moderator. Send your PM to instructmba for any particular requests or questions.
The Black Dot marks the spot of OBO-1 as updated per Oilphant's co-ordinates of 6/01/06.
The Blue Dot marks the possible spot of OBO-2 per various rumors and feedback to this board.
The Green dot marks the possible spot of OBO-3 based on information it was on the far west part of Block 1 near 3 & 4.
GUESSING CONTEST FOR OBO-4?
kownski = just west of JDZ054 next to Blk 4
magicatlast = near JDZ078
instructmba = just sw of JDZ079 where A and A-1 intersect
BLOCK Participants:
Block 1 (704 sq kms): (51%)=ChevronTexaco, (40%)=ExxonMobil, (9%)=Dangote Energy (Afren holds a 4.41 percent indirect net working interest in the JDZ Block 1 through a 49 percent equity interest in DEER). The JDZ Block-1 is located approximately 190 miles (300 kilometers) north of the city of São Tomé and approximately 125 miles (200 kilometers) from the city of Port Harcourt in Nigeria.
Block 2 (692 sq kms): (28.67%)=Sinopec, (22%)=ERHC, (14.33%)=Addax, (13.5%)=ONGC Videsh, (9%)=Equator, (5%)=MoMo Deepwater JDZ Limited, (5%)=Foby Engineering, (2.5%)=A & Hartman
Block 3 (666 sq kms): (51%)=Anadarko, (15%)=Addax, (10%)=ERHC, (10%)=Amber Petroleum (owns both MoMo Deepwater JDZ Limited and Equinox Deepwater), plus several Nigerian firms
Block 4 (857 sq kms): (38.3%)=Addax, (26.7%)=ERHC, plus (9.5%) Dana Gas PJSC who is for $1.02B buying out Centurion's 9.5%, which bought out Hercules which envolved a (0.5%) to an unnamed third party, while Conoil may have 20% and Godsonic 5% which all total the full 100 percent of this block.
Block 5 (1091 sq kms): (15%)=ERHC, plus other unknowns
Block 6 (588 sq kms): (15%)=ERHC, plus other unknowns
Block 7 (1286 sq kms): withdrawn
Block 8 (822 sq kms): withdrawn
Block 9 (1723 sq kms): (20%)=ERHC, plus other unknowns
Total all Blocks: 8,429 sq kms
This is the TDI-Brooks' 06-27-03 JDZ Piston Core & Heatflow map. For more info look up 2003 Nigeria São Tomé & Príncipe JDZ Consortium Program at: http://www.tdi-bi.com/our_programs/west_africa/west-africa_main.htm
Deepwater Discovery per RIG update March 31, 2006 is under contract until Aug-06 at $165K USD Dayrate with client CVX who has recently reported successful drilling in 1,720 meters of water in Block 1 in the JDZ. The area is thought to hold billions of barrels of oil. Oilphant can been seen in the background trying to chase her down as she's underway to drill the next hole.
Deepwater Pathfinder is looking alot like Deepwater Discovery.
Aban Abraham is looking like the real deal to begin drilling up to 5 firm and 5 optional wells at a $410,000 max daily rate.
H E L P F U L L I N K S :
JDA Main Site: http://www.nigeriasaotomejda.com/
LEGAL ISSUES:
JDZ Treaty: http://www.juristep.com/stpfile/legis/
Business Aspects: http://www.miranda-lawyers.com/publications/presentations.asp
Analysis of JDA Model: http://www.juristep.com/artigos_/
GLOSSARY of selected oil and gas terms:
http://www.eandp.demon.nl/glossary/
GENERAL:
US Dept of State info: http://www.state.gov/r/pa/ei/bgn/5434.htm
CIA FactBook Nigeria:http://www.odci.gov/cia/publications/factbook/geos/ni.html
Sao Tome und Principe: http://www.sao-tome.com/englisch/index.htm
NEWS:
Oil news: http://www.africaintelligence.com/aem/default.asp
Oil news: http://www.eisnigeria.com/news.htm
Oil news: http://www.energyme.com/newsfeed.php
Oil news: http://www.oilonline.com/news/headlines/
Oil news: http://wn.com/s/oilprices/index.html instructmba's favorite
Oil news: http://www.oilvoice.com/m/regionhome.asp?region_ID=7
Oil news:http://www.ogj.com/index.cfm
Oil news: http://www.petroleumafrica.com/
Oil news: http://www.rigzone.com/
Oil news: http://www.topix.net/world/sao-tome-and-principe
Oil news: http://www.upstreamonline.com/
Oil news: http://news.yahoo.com/fc/Business/Oil_and_Gas
VANGUARD: get Nigerian news here: http://www.vanguardngr.com/index.html
African News: http://allafrica.com/whoweare.html
Oil articles:
http://www.worldoil.com/magazine/magazine_contents.asp?Issue_Type=CURRENT
PWC Oil & Gas in Africa 22 pages: http://www.pwc.com/za/ENG/pdf/pwc_OilandGasPublicationIIII.pdf
Peak Oil Primer: http://www.hilltoplancers.org/stories/hirsch0502.pdf
See Section 7 on STP: http://www.afrika.no/noop/file.php?id=10517
São Tomé e Príncipe: The difficult transition from aid-dependent cocoa producer to petrol state (find at bottom of page):http://www.ssn.flinders.edu.au/global/afsaap/conferences/2004proceedings/index.htm
Interesting NPV and estimated returns for Afren in OBO-1 http://www.afren.com/pdf/AfrenCPR-Block1b.pdf
Production Sharing Contracts:http://www.acas-law.com/multimedia/negotiating_drafting_production_sharing_agreements.pdf
Not really an article but some old Meridian posts:
http://www.investorshub.com/boards/read_msg.asp?message_id=10972094
Black Gold In The New Gulf:http://www.lewrockwell.com/wall/wall15.html
"Our New Best Friend":http://www.newyorker.com/printables/archive/030728fr_archive02
IMF JDZ report: http://www.imf.org/external/pubs/ft/wp/2006/wp06183.pdf
PUBLICATIONS:
http://www.barrowscompany.net/publication.htm
http://www.emerging-markets.com/
http://www.insurancebrokers.hsbc.com/hsbc/energy/publications
COMPANIES:
Afren: http://www.afren.com/home.asp
Anadarko Petroleum Corp. SEC Filings: http://www.pinksheets.com/quote/filings.jsp?symbol=APC
Addax:http://www.addaxpetroleum.com./home
Addax:http://www.addaxpetroleum.com/_media/Analysts_Day_Nov_Part3.pdf (great slides, maps and future plans for the JDZ)
CHEVRON SEC Filings: http://www.pinksheets.com/quote/filings.jsp?symbol=cvx
CHROME OIL: http://www.chromeoil.com/
ERHC: http://www.erhc.com
ERHC SEC Filings: http://www.pinksheets.com/quote/filings.jsp?symbol=ERHE
SINOPEC SEC Filings: http://www.pinksheets.com/quote/filings.jsp?symbol=snp
Drillship Info: Special thanks to rocky822 for digging up this info!
http://www.deepwater.com/index.cfm
http://www.deepwater.com/StatusandSpecs.cfm
http://www.deepwater.com/RigLocationMap.cfm
http://www.deepwater.com/fleetspecifications.cfm?ID=712
$3 Billion [USD] dollar man
Sir Emeka Offor: http://www.africananews.com/cover/200512/emeka_offor.htm
Sorta Off Topic:
China Business News: http://english.people.com.cn/business.html
RULES: Reasons to get deleted:
1. Duplicate – an accidental duplicate post by a member
2. Personal Attack – when someone attacks a person, with name calling, or relating to the messenger and not the message.
3. Spam – a message that is being posted promoting other sites, stock-related or not, that has no use in the discussion of JDZ oil/gas companies.
4. Vulgarity – cursing of any kind unacceptable on YOUR BOARD.
5. Violation of Privacy – posting of any personal identifiable information (email, real name, phone, address, etc)
6. Threat – someone threatening another member in some fashion
7. Thread Disruption - someone posting to disrupt the board, stir up trouble.
Special thanks to Silverbull for the idea showing board member location. If you want to be added see Message 553:
1=Silverbull5, 2=instructmba, 3=jdubs, 4=bayfisherii, 5=texasspeculator, 6=Troublemaker, 7=Phiegze, 8=AussiePup, 9=wtao, 10=mrogop, 11=blockman, 12=bructer, 13=jrsmoney, 14=Degenerate Gambler, 15=mrrhodes, 16=redinvest, 17=shawcc01, 18=doug c, 19=rambus, 20=Lone Clone, 21=loki, 22=salmonking, 23=lesswork, 24=350z, 25=Strassenheim, 26=david02835, 27=stonemoutain, 28=bazilfawlty, 29=dat_51or, 30=magicatlast, 31=nwtf, 32=kownski, 33=kcguru23, 34=Texascpa, 35=trade2much, 36=Art2004, 37=slacker42, 38=dreamweaver2000, 39= oliver spud, 40=Manti, 41=tamtam9042, 42=texsun2003, 43=Swampfx, 44=digforgold196, 45=stunjamie, 46=Tapco1, 47=ddragon41, 48=Stay the Course, 49=brez63, 50=Iceking, 51=convertedliberal, 52=Al4343, 53=FishToy, 54=investorbynight
Build up and don't tear down! Provide FACTS not ATTACKS. This is a FRIENDLY message board with an atmosphere that can make a difference!
FEATURED ITEM FOR TODAY:
Early history of JDZ and STP can be found here. http://www.investorshub.com/boards/read_msg.asp?message_id=10998520
B.P.O.W.: currently the JDZ board has 84 Boardmarks
Best Post Of Week:
(All decisions by the judges are final and are based on content, timeliness, format, creativity, and usefulness.)
Past Winners: mrrhodes, saleen(x2), rocky822, Tapco1(x3), walldog0, david02835, Silverbull5, bayfisherii, mrogop, xchip, Lone Clone, NobleSlave, mart50
JDZ stocks of interest: Addax=AXC.TO (Canada), Afren=AFR.L (UK), Anadarko=APC (US), Centurion=CUX.TO (Canada)bought out by Dana Gas for $1 billion), Chevron=CVX (US), CNOOC Ltd=CEO (China), Equator=EEL.L (UK), ERHC Energy=ERHE (US), Exxon=XOM (US), Hercules=HERO (US), Hyperdynamics=HDY (US), Oil & Natural Gas Corp=ONGC.NS (India), Sinopec=SNP (China), Syntroleum=SYNM (US)
Got a public issue or questions such as rules, feature requests, TOU, etc., please go here : http://www.investorshub.com/boards/board.asp?board_id=504
"ERHC On The Move"is Joe Shea's Blog and favorite reporter on ERHE. You can find more at: http://erhc.blogspot.com/
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