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This IHUB is getting addictive.........now I'll be daydreaming all afternoon with this last bit of info, Oily. Gracias. I'm making the updip image my new screensaver. :-0
Opus X formerly known as Gran
Thanks for info, Oily and definition, Jim. "Updip"...kind of fits into the past rumors, etc.
Sure would like to see publically communicated information soon. This is fun, but.......... I'm not getting any work done!
Gran
IMO, I want the buyout and not for the immediate return reasons.............what has Offor demonstrated in building an international, significant, structured, oil exploration firm? Or international, integrated oil company? Chrome is neither. Granted, I think that he is a master in developing this idea and property to where he and others may benefit mightily. But building an international oil exploration company or integrated oil company.....give me the money. To do that, he has to hire people and allow them to do their jobs within the charter and direction of the company. IMO, I don't think that he can do that. Granted my view of him is over this last 9 months and what I've read, but allow him to build a CVX? Nah, give me the money.
BB, this idesa of CVX/Addax and Sinopec/ERHC does knit well on alot of perspectives. Once again, glad to be in the front row here.
Gran
You know, BB, my "off the cuff" comment yesterday, is making more sense to me. Everyone in the oil industry (as told to me by one of my oil industry buddies) knows that China has the $$$ and has consistently overpaid (U.S. companies' opinions) for oil properties. (I believe he used the expression, "China's bid prices on acreage just don't pencil out") If we believe some of the recent news reports posted over the last couple of days, while there are many forms of cooperation, if Chevron does not want to get into a bidding war for additional %'s in JDZ and if it is as big as the rumors, one form of cooperation is that Chevron buys Addax and Sinopec buys ERHE. The shared engineer Addax/Chevron supports that potentially (and Addax leading the blocks drilling) and China's already involvement in 2 with what I'm perceiving, lack of expertise in deep water drilling makes it a win-win.
Once again many, many scenarios of cooperation, but obviously, for shareholders of ERHC, to be acquired/buy-in by deeper pockets of Sinopec, in my mind, would be just fine.
Back to work,
Gran
Oily, that's the post of the day.................
Gran
Or CVX buys Addax and China buys ERHC..that scenario fits all the public discussions of mutual support US/China in oil development especially when CVX is only in block 1 and CVX head engineer went over to ADDAX.....
this brainstorming stuff is fun!
Gran
Thanks for connecting a few more dots, Mr. Oilphant............
Whatever happens here, I'm glad I paid for the premium seats.
Gran
Oily's "use caution while walking along train tracks" is pretty clear...........
.......since the train is leaving the station........
Thanks Oilphant for keeping it amusing. We'll see if you are anything more than that, but even if you aren't, you're ok with me...
Gran
OT: During the jewish new year would be:
Jewish Year 5767 : sunset September 22, 2006 - nightfall September 24, 2006
Gran
OT: Mark....HAHAHAHAHA! Excellent!!!!
I'm preparing to smoke my cigar for victory!!!!
Gran (Soon to be Opus)
totally agree with you, Dadd.........essentially, nothing I can tell you now, but there are important events coming....
Gran
Since there isn't any new news..how about some old news that still is interesting..............Boy....news on potential find spread out pretty quickly when you look at dates of article.....
http://www.upstreamonline.com/live/article105888.ece
Chevron success in JDZ
17 February 2006 17:34 GMT | last updated: 17 February 2006 17:34 GMT
By Barry Morgan
Strong indications emerged that US supermajor Chevron encountered a substantial oil-bearing structure during its current probe in the Joint Development Zone managed by Nigeria and Sao Tome and Principe.
Chevron has a 51% stake in JDZ block-1, ExxonMobil 40% and indigenous Dangote-EER/Afren tie-up 9%.
As Transocean drillship Deepwater Discovery prepared this week to punch wildcat Obo-1 down to TD in JDZ block-1, reports began trickling out of a far bigger-than-expected target in the upper horizons.
There is speculation that the structure straddles adjoining block-2.
Chevron has renewed interest in block-2 where Chinese giant Sinopec is hoping to clinch operatorship in partnership with Houston-based preferential rights holder ERHC Energy. Senior executives from Chevron and ERHC met Thursday night in Nigeria, primarily to deliberate on the way forward.
Neither Chevron nor Sinopec bid in the second licensing round under which blocks 2 through 6 were provisionally allocated, but both are now understood to be eyeing ERHC equity in the wake of rising oil prices and the lure of fresh reserves.
Sinopec only has a memorandum of understanding with partner ERHC on block-2, which the Joint Ministerial Council, the bilateral body overseeing the JDZ Authority - has yet to approve.
The equity markets remain ever-watchful of nascent moves by upstream players to acquire the minnow outright since that could spark a bidding war before the long-awaited production sharing contracts (PSCs) are due for signature.
ERHC chief executive Walter Brandhuber this week confirmed that both PSCs and attendant joint operating agreements were on course for signature by end-February.
--------------------------------------------------------------------------------
Mr. Oilphant, thanks for the info. Your JDZ/ERHE thoughts here are all appreciated by me. (It's not like I'm making buy/sell decisions off of them!)
Gran
Mark, thanks for all your invaluable contributions.
Do you smoke (cigars)? Gonna have to buy you a few of those OpusX's!! (when I can afford them!)
Gran
OT: with all this discussion of JDZ potential oil reserves being of epic proportions, I'm thinking about changing my name to;
http://www.cigarfamily.com/our_cigars_opusx.html
AND, just want to say thanks to all the active participants to this board. Your "connecting of the limited dots of information" are thought-provoking and very realistic.
After catching up on quite a few messages here, I would agree with you more, Balance Builder, on the move of the ex-CVX project manager was more than to better promote the spirit of cooperation. Too many $$$ here, too many potential reserves in play.........
Over the next 1 -2 years, this is going to be some type of theatre........glad I have a premium seat.
Gran
BB, I do agree that CVX doesn't let a important individual without clear cut reasons, but I would think that at this point they could have a plan a (cooperation) and a plan b (inside info on future acquisition) going. Either way they release him from his "non complete" which in itself is an important message even though they are not effective in keeping employees.
Gran
OT Ele, I have TD Ameritrade and Schwab. I've been with Schwab for +20 years and Ameritrade for 15 years. Schwab has reduced their rates so they are more in-line (pricing)with "discount brokers". I like them both. Schwab offers a few more services (i.e. banking etc.) Ameritrade is a little cheaper and has some nice features if you want to trade more.
Thanks for all your input to these discussions.
Gran
OT: Thank you very much STC. I still have fun with the poem. I had them printed up a few years back in poster type form and handed out to male friends.
The Betrothed
OPEN the old cigar-box, get me a Cuba stout,
For things are running crossways, and Maggie and I are out.
We quarrelled about Havanas—we fought o’er a good cheroot,
And I knew she is exacting, and she says I am a brute.
Open the old cigar-box—let me consider a space;
In the soft blue veil of the vapour musing on Maggie’s face.
Maggie is pretty to look at—Maggie’s a loving lass,
But the prettiest cheeks must wrinkle, the truest of loves must pass.
There’s peace in a Larranaga, there’s calm in a Henry Clay;
But the best cigar in an hour is finished and thrown away—
Thrown away for another as perfect and ripe and brown—
But I could not throw away Maggie for fear o’ the talk o’ the town!
Maggie, my wife at fifty—grey and dour and old—
With never another Maggie to purchase for love or gold!
And the light of Days that have Been the dark of the Days that Are,
And Love’s torch stinking and stale, like the butt of a dead cigar—
The butt of a dead cigar you are bound to keep in your pocket—
With never a new one to light tho’ it’s charred and black to the socket!
Open the old cigar-box—let me consider a while.
Here is a mild Manila—there is a wifely smile.
Which is the better portion—bondage bought with a ring,
Or a harem of dusky beauties, fifty tied in a string?
Counsellors cunning and silent—comforters true and tried,
And never a one of the fifty to sneer at a rival bride?
Thought in the early morning, solace in time of woes,
Peace in the hush of the twilight, balm ere my eyelids close,
This will the fifty give me, asking nought in return,
With only a Suttee’s passion—to do their duty and burn.
This will the fifty give me. When they are spent and dead,
Five times other fifties shall be my servants instead.
The furrows of far-off Java, the isles of the Spanish Main,
When they hear my harem is empty will send me my brides again.
I will take no heed to their raiment, nor food for their mouths withal,
So long as the gulls are nesting, so long as the showers fall.
I will scent ’em with best vanilla, with tea will I temper their hides,
And the Moor and the Mormon shall envy who read of the tale of my brides.
For Maggie has written a letter to give me my choice between
The wee little whimpering Love and the great god Nick o’ Teen.
And I have been servant of Love for barely a twelvemonth clear,
But I have been Priest of Cabanas a matter of seven year;
And the gloom of my bachelor days is flecked with the cheery light
Of stumps that I burned to Friendship and Pleasure and Work and Fight.
And I turn my eyes to the future that Maggie and I must prove,
But the only light on the marshes is the Will-o’-the-Wisp of Love.
Will it see me safe through my journey or leave me bogged in the mire?
Since a puff of tobacco can cloud it, shall I follow the fitful fire?
Open the old cigar-box—let me consider anew—
Old friends, and who is Maggie that I should abandon you?
A million surplus Maggies are willing to bear the yoke;
And a woman is only a woman, but a good Cigar is a Smoke.
Light me another Cuba—I hold to my first-sworn vows.
If Maggie will have no rival, I’ll have no Maggie for Spouse!
Kuxe0, thanks, I will read it over tonight.
Gran
Speaking of education; to define an oil reserve as proven, what is required? Is there some type of industry standard process/criteria (I assume) that is required? Also, how would this fit into the overall and developing timeline of test wells being drilled sometime in, let's say right now, the first half of 2007?
Thanks,
Gran
Congrats, jdub. May everyone be healthy.
Out of town this since early Saturday and just catching up with all the chatter. WOW. Setup a Roth IRA for her with a few shares of EHRE!
GLTA,
Gran
OT:I'll bring the cigars!
Gran Habano
If this Pathfinder comes to fruition, I think that Oily gave us this hint several months ago although it sounded at that time as if he was talking about CVX subleasing the Pathfinder. See my message on this link:
http://www.investorshub.com/boards/read_msg.asp?message_id=11321816
HMMMM...
"Mr. Oilphant" if this comes through........
Gran
That's incredible news. thanks. maybe this is the bottom!
Gran
Me too. 7,500 @.385...........and if it goes lower, I'll buy more. Just appears that things are happening......to position us well for the future.
Gran
as one of the multitude, thanks Dadd.
Gran
here's an Profit/cost oil explanation from IHUB April post. Not sure if this is definitive. I must read again.
http://www.investorshub.com/boards/read_msg.asp?message_id=10477738
Gran
Agreed...............underpromise and overdeliver.........
Gran
wow, didn't expect anything different from them, but how incredibly slanted...........
Gran
I posted a quick e-mail to Dan "Da Man" Keeney on a good job on the PR of this morning AND his posting on IHUB and have already gotten a nice response back saying he wants open and honest communication.
We all know that is what his contracted services are for with ERHC, but it's all nice to hear.........
Gran
FUNNY, I DON'T SEE ERHE.OB ON HIS "WHEN OIL HITS $100/BARREL PLAYS" LIST!
HOPE THIS LINK IS USABLE..........
http://articles.moneycentral.msn.com/Investing/CompanyFocus/ItsTimeToInvestFor100Oil.aspx?GT1=8472
GRAN
IMO, no matter how good the rumors, we're dealing with a penny stock with primary resources in Nigeria, majority owned overseas, investigated by U.S. legal/SEC orgs........
It'll get closer to true value when the substance of the rumors become closer to reality and reduce the perceived risks......
We all know, if the distribution of investors and their risk/reward ratio is a normal curve, all of us are on the far outer reaches of high risk/high reward........
Troy, you know that from all our Starnet/WGMGY days..... It looks like you were caught up in the moment. I'm still believing based on all what I have seen (no more than anyone else) that this stock price will be much, much higher as that high risk factor starts moving to a lower risk factor. And who knows, maybe the high reward is even higher that what we imagined. Wouldn't that be nice.
Gran
(Looking forward in changing my "name" to OpusX within the next 6 -12 months!) HA!
if it is like you say, they are putting the finishing touches to it all. Not alot of volume...........
Date Open High Low Close Volume Adj Close*
26-Jul-06 0.42 0.43 0.41 0.42 164,700 0.42
25-Jul-06 0.40 0.43 0.39 0.43 791,600 0.43
24-Jul-06 0.42 0.43 0.40 0.42 209,300 0.42
21-Jul-06 0.39 0.43 0.38 0.41 1,009,000 0.41
20-Jul-06 0.40 0.40 0.37 0.37 338,600 0.37
19-Jul-06 0.39 0.40 0.36 0.40 725,700 0.40
18-Jul-06 0.41 0.42 0.39 0.39 690,900 0.39
17-Jul-06 0.42 0.42 0.41 0.41 155,400 0.41
Gran
even longer...........
check post #65483
Gran
As I think that everyone knows that has been on this board for awhile, the Chinese have been paying higher prices for developed and undeveloped world oil properties than U.S. firms. A U.S. geologist friend of mine that works for a U.S. major says that they can't "pencil out" anything near what the Chinese have been offering for properties around the world.
IMO, the table is set for further involvement in the JDZ and possibly ERHE, from public comments by the Chinese on their intentions in Africa, their disappointment in their proposed acquisition (Unocal, I believe) and what they intend to do now (build more slowly), their involvement with ERHE in the JDZ, etc. It's just a matter of time..............
Gran
DB, agreed, they want to find a place for their U.S. $$$......
Gran
bingo, you always put your own financial guy into an operation.......
gran
AS WE SIT BACK AND IDLE AWAY THE TIME, DID YOU KNOW YOUR ERHE FACTOID OF THE DAY????
LAST TIME WE HAD LESS SHARES TRADED WAS BACK IN 2003
24-Dec-03 0.31 0.31 0.28 0.29 99,600 0.29
GRAN
Agreed, but whatever plans must include getting off of the OTCBB which requires a higher valuation. "Institutions" aren't going to be buying into a OTCBB company....some cannot do that based off their charter.
I'm still thinking along the lines that "BalanceBuilder" detailed a week or two ago; if they are going to talk with the investment community, there are a series of events/actions of significance about to take place which includes a higher valuation (from buyin, etc., whatever) and a plan to move to a another trading system.
Do I believe that anything is going to happen like that......I really don't know. If you look again at WB's credentials, he's got what it takes to do that.
Of course, all IMHO.
GLTA,
Gran
During this boredom, I'm trying to use a couple of European contacts to see if they have any better info on the JDZ. FWIW, if I get anything of substance I will post.
"If you calibrate your expectations low, you won't get disappointed"
Gran Habano 2006
Gran