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Great, he will spend a million shares to go tell everyone how remarkable he is.
Great article and pictures
http://www.geoexpro.com/articles/2014/11/exploration-in-the-east-african-rift-system
The East African Rift System is rightly attracting significant exploration interest because it is a very large accessible onshore basin system, and yet has only recently yielded large hydrocarbon discoveries. It remains highly underexplored with only two rifts partially explored so far, with many undrilled frontier basins highlighted by the Bouguer gravity data still to be investigated (Figure 8). Differentiating effective segments of the rift should benefit from relatively intense fieldwork and geochemical exploration methods, neither of which have been applied in much of the rift system to date. Effective prospect maturation can be achieved with potential field methods such as airborne Full Tensor Gravity Gradiometry (FTG) supplemented with 2D seismic, without the need for expensive 3D seismic (see article on Heritage Oil in Tanzania, V11.5). The combination of appropriate technology and good quality geology has the scope to generate high quality, relatively low cost prospects; and the EARS can deliver play fairways attractive to both smaller and larger companies.
Tullow Oil, Africa Oil receive 1 year extension in block 10BB, 13T
NOVEMBER 13, 2014 BY SAMUEL KAMAU MBOTE
The Kenyan government has approved extension of the exploration license in blocks 10BB and 13T by one year following delays in acquisition of 3D seismic.
Following the approval exploration periods for block 10BB and 13T will expire in July 2017 and September 2017, respectively.
This year the partners in both blocks have acquired a 704 square kilometer 3D seismic program over the discoveries and prospects along the Basin Bounding Fault Play in the discovered basin in Northern Kenya.
Ongoing is a further 274 square kilometers to include Etom and the surrounding structures which was initiated following the positive results from the Etom-1 well. This expanded survey is expected to complete during the fourth quarter.
“The ongoing drilling in the discovered basin in Northern Kenya has been quite helpful in understanding the distribution of the best reservoir facies and will no doubt be enhanced by the ongoing 3D seismic survey which is to be completed by the end of 2014,” says Africa Oil CEO Keith Hill.
Other completed acquisitions include a 674 kilometer 2D seismic program in Block 12A which was completed in the first quarter as well as in Block 10BBwhere a 750 kilometer North Kerio Basin 2D seismic program was completed in the first quarter.
In 2015 the explorer partners plan to drill six new basin opening wells by mid-2016. Epir-1 (Block 10BB) will test the North Kerio Basin and Engomo-1 (Block 10BA) will test the North Turkana Basin; both wells will spud shortly.
In addition, wells are being planned at the North Samaki prospect (Block 10BA) in the North Turkana Basin, the Tausi prospect (Block 13T) in the North Lokichar Basin, the Kerio Valley Basin (Block 12A) and the Turkewll Basin (Block 13T).
“We are looking forward to the results of three new basin opening wells to be drilled in late 2014 and early 2015 which have the potential to unlock significant value in terms of new prospects and resources. Our goal is to open up at least one new basin and to move a significant number of barrels from prospective to contingent resources by the end of 2014 and into 2015 as we move the field development program forward,” concluded Hill.
Tullow Oil is the operator in both blocks 10BB and 13T with 50 percent withholding interest while Africa oil holds the remaining 50 percent interest in both blocks
Is that all? I wish that was all I had in it! 1.4 and didnt avg down.
OER: OANDO "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends to begin explortation Money in EEZ starting next month.
Blocks 5 & 12, EEZ of Sao Tome & Principe
Budgeted capital expenditures for Block 5 and 12, EEZ of Sao Tome & Principe were set at $5.2 million for 2014. No significant capital expenditures were incurred in these fields in the nine months ended September 30, 2014. Planned capital expenditures related to a four year work programme of 2D and 3D seismic acquisition and studies remains with Seismic acquisition to be incurred in December 2014
Where is the 100 million coming from? 3 months and no update?
http://allafrica.com/stories/201410010139.html
oando-energy Blocks 5 & 12, EEZ of Sao Tome & Principe
http://finance.yahoo.com/news/oando-energy-resources-announces-record-015600225.html
Budgeted capital expenditures for Block 5 and 12, EEZ of Sao Tome & Principe were set at $5.2 million for 2014. No significant capital expenditures were incurred in these fields in the nine months ended September 30, 2014. Planned capital expenditures related to a four year work programme of 2D and 3D seismic acquisition and studies remains with Seismic acquisition to be incurred in December 2014.
page 5 http://www.oandoplc.com/wp-content/uploads/OER-Corporate-Presentation-October-2014.pdf
http://www.reuters.com/article/2014/10/14/saotome-election-idUSL6N0S84S720141014
Production in 18 months
http://www.businessdailyafrica.com/Kenya-oil-viability-to-increase-with-building-of-pipeline-/-/539552/1533902/-/sdv0lt/-/index.html
Pipeline isnt important? a study by Morgan Stanley over 2 years ago, stated discovery size would decrease at least 5 fold and be considered "commercial" by having a pipeline in place.
ERHC investors better hope this is huge, like 600 mill.barrels or more. Otherwise its not commercially viable.
Two years till decision on who and where. They are working on it.
http://www.reuters.com/article/2014/11/05/us-africa-energy-africa-oil-idUSKBN0IP18F20141105
"Morgan Stanley report show that construction of infrastructure connecting the Lamu Port to South Sudan and Ethiopia or Ugandan oil export pipeline would cut back the threshold required to declare the prospective fields commercially viable."
“Management commented that on a standalone basis, a series of discoveries in the Lokichar basin will require 400-500 million barrels (mmbbl) to be commercially viable. However, were either the Ugandan export pipeline or South Sudan Lappsett’s pipeline to be built, the commercial threshold would drop substantially to 70-100mmbbl,” reads the report.
Good point Longtimer thats a nice plan, but the sales price will undoubtedly reflect the lack of a pipeline or modern transport availability. It is relevant to the buyer. I assume our current SP isnt even on Peters graph proposal, I do remember seeing his graph "proposal" heres hoping this comes true. Its going to take a while in Kenya. Thats why our SP is disappearing. Need Chad to bring us up. Sao Tome has to have oil, whats the delay there?
Really, of course Cowboy, the question is when? If? Its a 5 billion dollar project that wont begin until oil production starts. They are waiting for enough proven production from more regions than just our block. There going to wait till maybe 3 or 4 countries increase production. This can happen quickly? There is not enough money set aside-pledged for this pipeline at this time. It will be 3-4-5 years? Chad is looking better all the time.
"A new World Bank Group paper forecasts that the Horn will undergo dramatic and lasting change when oil production starts in Kenya, Uganda, and possibly Somalia and Ethiopia."
per your link.
The World Bank has pledged some $600 million to facilitate the construction of a regional pipeline linking oil fields in Uganda, Kenya and South Sudan, the lender said Monday.
In a statement, the World Bank said that the funds would be provided by its private lending arm, the International Finance Corporation and is part of a $1.8-billion loan to fund various infrastructure projects in the Horn of Africa region, where companies have made a flurry of oil and gas discoveries in recent years.
The 1300-km (806-mile) pipeline is expected to link oil fields to Uganda, South Sudan and Kenya.
The project, which is expected to cost up to $5 billion is expected to help landlocked South Sudan export oil.
South Sudan relies on pipelines that straddle Sudan, from which it broke away, to export some 245,000 b/d of crude.
Civil war in South Sudan has also slashed output by a third.
Uganda and Kenya have discovered huge amounts of crude, but they will require a heated pipeline to export the waxy crude, through the Kenyan port of Lamu.
Anyone looking to invest in hydrocarbons onshore ask this simple question first. It was the first concern when I presented the Kenyan play to fellow investors. I know a pipeline is proposed, anyone know the timing? Sorry Gremlin but its not negative its reality.
Offshore they use floating tankers and pipeline terminals and some storage.
Anyone want to guess? If and when we drill and find oil, how will we sell it? Wheres the nearest currently operational pipeline?
Yes. But without a pipeline. How will we sell the oil? Has construction even started?
Traps
Geologists commonly describe traps on the basis of their origin. Structural traps are closures formed by structural movements within the Earth, and stratigraphic traps are closures formed by sedimentation and diagenesis, without the need for structural movements. Structural/stratigraphic traps are closures formed by patterns of reservoir rock that impinge upon a structure.
http://petrowiki.org/Reservoir_geology
and unencumbered by enviromental issues or inhabitants, difficult geographical structures possibly.
Totally agree. The sp says gloom and doom. Some buybacks and insider buying would go a long way. Dr thuo should buy 10mill. Today!
https://globenewswire.com/news-release/2014/11/05/679990/10106265/en/ERHC-Energy-Inc-Confirms-Leads-in-Kenya-Block-11A-With-Closures-of-Up-to-20-Kilometers.html
It's about time! Wow. Takes them 4 months to report progress. Should be15cents by Friday!
Its an assumption until CEPSA has a press release or takes positive action we can see,imo. They can bail anytime they want.
Just curious Won , how old are you?
Julius, bottom line at best the market doesnt want to wait 23 months to see more 3d or maybe drill, the fact is CEPSA, who makes all the decisions hasnt said squat. So its all an assumption based on contractual timelines that can be adhered to or not. Where is CEPSA's anouncement?
I want to hear something from CEPSA. The market does too. Seems there is no interest other than locals here trading amongst
themselves. Cant believe its been 15 years for me to watch this go to 3 cents. Its very depressing to see the sp decline and still have eternally optimistic "cowboys" posting here. Im in at 44 cents so you see its a long rocky uphill trail for me.
Dont get me wrong, Im a gemini, so its a daily battle. I hold till the fat lady sings. They have aquired some remarkable opportunites with a very small billfold. At least there is a remote possibility something surfaces positive within 2 years. The market is just impatient?
That is an assumption at this time.
At the almost 3 cents a share, seems we are dreaming. There must be nothing of interest. Wheres the insider buying? No one is buying in any meaningful way. We go from .12 to .039 and there is no bad news?
Color what color, he should have gotten the paintball gun out! Why the buck are we down after such a positive news release?
Good post Long-timer thanks, nice link to your 3 month plus+ old post as well.
I would like to see Dr. Thuo and Peter etc buying up lots of ERHC shares tomorrow. Lets see some "REMARKABLE" insider activity.
7 cents tomorrow?
Imo the picutre looks like a military style bunker for seismic equipment, personnel and enviromentalist is all to me. A temporary safe work haven, nothing more.
Interesting the language and words used are much stronger than the encouraging word used on Kenyan Block 11a. Chad may be better? Hope were still alive to hear the answers.
Southern Chad strongly confirm the viability of leads in two focus areas identified by ERHC's technical team - See more at: http://globenewswire.com/news-release/2014/10/29/677584/10105032/en/Airborne-Gravity-Magnetic-Survey-Confirms-Viability-of-Leads-in-ERHC-Energy-s-BDS-2008-in-Chad.html#sthash.R2UzcXvC.dpuf
Why cant Peter give us details like this, unless there are no good specifics to share....
http://finance.yahoo.com/news/simbas-ftg-survey-narrows-focus-070100136.html
Simba Energy Inc. (SMBZF)
0.0550 Up 0.0156 (39.59%)
Nice report for them, here's a link with map..not close to us at all.
http://www.oilandgastechnology.net/upstream-news/taipan-confirms-
oil-potential-block-1-onshore-kenya
Fundraising Activities
ERHC continues to raise funds through the issuance of convertible notes. This is part of the Company's previously announced comprehensive fundraising program.
Proceeds from the current issue are being applied to funding the Company's exploration work program in Chad, among other obligations.
ERHC is also in discussions with private equity funds regarding potential strategic investment. These talks are preliminary in nature but management believes a significant private-equity investor could represent an important source of funding to help meet the Company's long-term obligations.
Swala gave more information than just "encouraged" and they only have a 25% interest.
Swala Energy Limited has provided an update on the 2D seismic program underway in Block 12B in Kenya. Swala has a 25% equity interest in the block. The other JV participants are CEPSA (with a 25% interest) and Tullow Oil, the operator, with a 50% equity interest.
The seismic program over Block 12B has been completed and the preliminary interpretation of the results is positive. A total of 350 km of 2D seismic were acquired over Block 12B. The initial results based on preliminary processed data indicate the presence of large-scale faulted structures across the entire basin, together with the presence of shallow volcanics, a feature of the East African Rift System. Initial results, supported by Swala’ s earlier reinterpretion of available legacy data, suggest a Neogene basin with possible 3,000 m of sedimentary fill.
The JV participants shall now complete the reprocessing and interpretation of the data before deciding whether to proceed into the third year of operations.
Dr. David Mestres Ridge, Swala’ s CEO, said, “These initial results from the seismic program are very encouraging in that the extent of faulting in the basin suggests the possibility of structural traps both within and at the edges of the basin.
“We look forward to updating the market once the reprocessing and interpretation of the data has been completed which should give a robust understanding of the trapping potential.”