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BO will win re-election. count on it billy bob.
LOL. but that really IS another reason i sold. longs with big loads getting very agitated over the lack of progress or clarity is worrisome. will all of you hold even longer, into next year, with more delays announced that we don't know about yet? my small amount didn't matter much anyway but i certainly didn't want it to drop in value even more.
i'll be back in (like i said before) if it craters to the teens. i blew it by the way by not buying at 20 cents. might be tempted at that level next time around....not that i'm wishing for that to happen.
LOL
be good everyone, and if you can't be good, be careful.
strass, none of my business but since you brought up trading this, since we hit 40 cents momentarily a month ago, that is pretty close to your stated goal of getting out at 44 cents. with around 100,000 shares, you could of just taken a $4,000 haircut and been done with this POS. why didn't you?
i bailed again folks, losing only a couple hundred bucks from my buy-in two weeks ago. i am NOT a good trader. if just one of you big share folks gets sick enough of this, you can drive this down to 10 cents. THAT is a scary thought.
all the best my fellow sufferers.
take a few deep breaths krom. sheesh. no announcement today is not the end of the world. like someone said, no run up so really shouldn't be a huge drop simply because of no news again. no news is sop.
SSC, i learned to like your 'keeping it real' posts especially after i sold. now that i own again i see it more as 'dripping with sarcasm'. lets all hope for better times soon although i am NOT assuming that. i expect more rugs to be pulled out from under us before we get better news.
tryoty, nice picture. i sure hope my badgers can give your buckeyes a good game soon.
all the best
Dan made it clear he doesn't know anything about commercial finds. i believe him. Is SNP hiding information from ERHC? misleading them? or is SNP's website in error as Dan flat-out says? as usual this stock makes no sense.
even if it was older i can't believe SNP would say such a thing without some part of the point being true. the words commercial and oil in the same sentence from the operator means something. someone has some 'splaining' to do here.
i feel lucky if that turns out the way you say. i was one that bought back in 5 seconds after reading kroms post and checking out the link. basically same price i ditched this thing at 5 months ago. those 5 months were great by the way. now i'm back to worrying about this again!
is it translated right krom? maybe some positive news just slipped out of the noose...
i am not invested at this time in ERHC and do find the spreadsheet analysis, what-if analysis, scenario analysis to be of value.
both of you have a good day.
Gomer Pyle? you are dating yourself for sure balance.
did you mention popcorn? anyway, my bad, it was an email forwarded from ihub messages to my yahoo account. that is a great way to see deleted messages by the way. i only received one forwarded post.
all the best spec
Hey Spec29, thanks for the email. i have no issue at all with the link you sent. i can't even understand your point. anyway, hope your popcorn was good.
all the best to you
from what i can tell, the GOM oil spill just serves as a fig leaf for the usual partisan fools here to take swings at the majority party. IHUB is correct to ban the topic.
after the shareholder meeting debacle, i did some quick but deep dives on akpo via google. i did not keep the links but you can likely find the same stuff i did. after the first 5 wells in akpo proved up so well, some downplaying of results occurred. the downplay was what was shown on this board. from what i read, i did not see a bunch of confusion about whether oil was hit or not. it was.
Degen, from what i've read AKPO was thought to be oil right from the start. the first well hit something very intersting, not just gas. the next four wells all hit oil. that is not the same scenario we are seeing with ERHC. the JDZ seems to me like it could be just like AKPO due to the geology but AKPO and the JDZ (especially blocks 2,3,4) are not getting off to the same start.
he has used that phrase before, saying 'how' to proceed not whether. but i wouldn't read too much into that as he is saying after all the analysis is done and we are determined to be commercial or at least it is determined that the economics of more drilling make sense, then they determine how to proceed.
Nice to see my old math classes explained again.
it is good that total is continuing, even increasing its investments in infrastructure in nigeria deep water....but, it is more bad news (to me) that total's big investment efforts for the near and long term future are focused outside the JDZ. there really is no other way to read this.
it would be nice, if this is indeed related to JDZ development, that someone comes out and says so. too much to hope for i guess.
Krom, i think phase II will be declared but what exactly is phase II? anyone know the terms? i fear a minimalist approach that could have us asking these same types of questions two years from now, waiting for rigs to drill, waiting for phase II results, for movement on Total, with extensions again being asked for and granted, etc. etc. deja vu all over again.
ERHC (keeney) said it but no one commented on it at the time. it didn't make sense to me either then. they did not find what they expected so the drilled again. to me, those are facts.
i wonder about that optional well also. ERHC said if results from the mandatory wells were good they wouldn't necessarily need the additional well. they needed to drill again because the first wells surprised them. and not in a good way.
that is plausible. i've always struggled to understand why laying low or downplaying was to ERHC's advantage. this could be why but ERHC was saying things like keeping a low profile was good strategically even before total entered the picture.
It appears (again) to be number 1. incompetence. they can't even be consistent on annual share holder meeting slides that talk about what everyone is waiting for - drilling results. so they say gas on one slide and methane gas on the other, causing tons of confusion in the process. they should come out and discuss the implications of the dana gas and EEL reports, all public information already. but they won't.
then we are green!!
i'm not sure i saw this before. what the heck. how can erhc claim we found only gas yet these comments be made from the 'quality director' of the jdz? who can be believed?
one difference is they discovered oil with all 4 exploratory wells in akpo. i get your point though and agree to a certain extent. tons of misinformation/secrets.
i'm confused about this: bio methane gas is supposed to be produced in cooler tempatures yet akpo is high tempature and probably JDZ is also. if jdz is hot then how in the world did our drilling find all the cool spots. i'll freely admit ignorance on this subject.
what does 'departure' mean in drilling depth context? see last paragraph below.
The Akpo challenge
Total says its experience of Gulf of Guinea conditions led up to the Akpo challenge. "Because we have been working in Nigeria since 1962 and operating several large projects we were more than ready to develop a deep-water project, combining our technical expertise gathered in, for instance, Angola, our knowledge of Nigeria and our geoscience expertise."
Total's initial concept for the development was for full gas injection, because studies indicated that a small pressure-drop would cause the reservoir fluid to separate out and jeopardise the recovery of condensate. But this concept evolved into a hybrid scheme, with some gas injected and some landed to Nigeria LNG's gas-liquefaction complex at Bonny, to capture some sales revenue from the gas. The firm says further studies of the reservoir showed, surprisingly, that the reduced injection rate would actually increase the recovery of liquids.
The reservoir will be managed by controlling the gas-to-liquids ratio in the wells, with the condensate plateau maximised by producing from low gas-to-liquids parts of the reservoir first and by controlling the arrival of water in the wells. For pressure maintenance, a large number of water-injection wells will be needed from the start of production – there will be 20 and two more for gas-injection.
The production architecture consists of 22 wells, all pre-drilled and all with 3-D trajectories – there are J-shapes and S-shapes and horizontals with departures of up to 3,000 metres. Total will not answer questions about Akpo costings, but it is clear that the drilling programme will account for a large part of the capital expenditure.
that might be the first time i've ever seen you see the glass as half full.
hard to argue with any of that dbernet. yes block 1 looks to be commercial but i'm no longer so sure total is coming into the other jdz blocks. i think it was strass that said 'the math works out well' if total does come into blocks 2,3,4 but does the math still work ok for total if they just stay in block 1? would linking akpo over to just block 1 be worth it for total?
then it appears it actually WAS just incompetance that caused them to not be specific on the type of gas that was found in blocks 2 and 4. wow.
if so they have NO excuse for the horrible slide presentation that couldn't even use consistent wording on the most important thing in the world to the audience. can anyone be that incompetant?
Finally read the annual shares holders presentation - ERHC could not be so sloppy as to say 'biogenic methane gas' in block 3 and then just say 'gas' in the other blocks, rather they wanted a distinction to be made. so the main gas in blocks 2 and 4 is NOT biogenic gas. yes it probably showed up but cannot be the main type of gas or ERHC can't be trusted to put together a simple slide show where words matter.
from what i've been quickly reading, biogenic gas is very common in the GOG. what kinds of gases did AKPO find on the way to production??
yes, a steady upward push on the world gaming price is what i remember (after we went to the AIM). world gaming was profitable at the time though so that helped. I go back to the starnet days, seems like a lifetime ago.
hey dbernet, we don't really know why those good people joined the BOD. maybe they realize ERHC will be getting a good bit of money for farming out pieces of the EEZ, so they also can sit around doing nothing. just saying.
all the best (hard to break this habit here).
ok Krom, fair enough and i respectfully remove the arrogant crack. I don't have as much faith as you that phase II is a sure thing, at least as a BIG thing. i'm afraid of another minimalist approach by Sinopec dragging things out forever on getting rigs, analysis of results, delays on top of those, whatever. still, there is hope, its just that for me i'll need a lower entry point than where we are now. having some cash sitting in the account isn't the worst move i've ever made anyway.
BSK's posts are excellent, yours don't do much for me, sorry. you imply i'm a chump and prideful. you...are...arrogant.
i don't mind being out after all these years (4). and yes it feels good. if it goes up without me, well, that won't bother me either. all the best to those who stay in. take some advice from a few around here though, trade SOME of your shares when appropriate. doing nothing will drive you insane. what happens if Phase II gets the thumbs down? you gonna be all in and watch this go to 5 cents? what if Total only wants in on block 1? what if phase II only amounts to what is minimally required and this drags out for 5 more years. what if more surprising delays get layered on? to much waiting around for me.
You have been making a lot of sense lately badog. i'm sorry to say it is painfully clear just how many false prophets we really had on this board. Fishdog comes to mind declaring oil found in block 4. markgovols speaks for itself. pathetic lier. very dumb on my part to listen to these folks. i was waiting for ERHC to declare what it found and they did. gas. i got out with the rush of others this week for a loss. i'll only get in again if it drops to the teens. and i'll f'ing trade it from there. i will say it felt great to sell even at a loss. i'm soooo sick of this stock tieing up my fun money like this.
best to all of you going forward. i'll monitor a bit and look to get back in but only at a great price.
you from wisc emptynester1? i grew up in madcity. perfect time of year but i don't miss the winters. all the best.