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On our way back up. Last Price 0.63
Change
0.16
Change %
34.04%
Tick Bid
0.68
Bid Size
2500
Ask
0.72
Ask Size
2500
Open
0.50
High
0.72
EEZ
http://www.erhc.com/cecoverview/jdzeez.htm
This should tell you all about the EEZ and ERHC.
ERHC has rights/% in both the JDZ & the EEZ. The JDZ started taking bids last fall on their oil fields/blocks. The EEZ will start taking bid this fall on their oil fields/blocks. ERHC rights will always be there.
Next week!
The Abuja-based Joint Development Authority will meet in the Nigerian capital next week to finalise an announcement, sources said.
If this is correct next week should be wonderful..
Market Pulse Announces its Hot Stock Picks for Thursday, July 15, 2004: SanDisk Quarterly Profits Rise!
ATLANTA, July 15, 2004 (PRIMEZONE) -- Market-Pulse.com is pleased to introduce our featured stock, NutraCea (OTCBB:NTRZ), to the investment community! NutraCea is new to Market-Pulse.com and is poised to become a significant player in the vitamin and nutrition sector of the healthcare industry! NutraCea just announced great news before today's opening bell! Investors should take note as they are undervalued! Other highlighted stocks from a fundamental and technical perspective are:
Environmental Remediation Holding Corp. (OTCBB:ERHC) : Attractive
Amgen Inc. (Nasdaq:AMGN) : Market Underperform
Recommendation Meanings
These recommendations are investment opinions of Market-Pulse.com and reflect the stock's potential to move over the next one to four weeks of trading. This analysis is done from a technical and fundamental perspective.
After Wednesday's Bell Market Commentary
On Wednesday, SanDisk Corp. (Nasdaq:SNDK), a supplier of flash storage card products, said that second-quarter profits beat estimates due to pricing moves that stimulated demand. Quarterly earnings rose to $71 million, or 38 cents per share, from $41.3 million, or 26 cents per share, in the year-ago period. Analysts had predicted SanDisk would earn 30 cents per share in the latest quarter.
About Market-Pulse.com
Market Pulse is a leading investor relations firm whose primary focus is promoting awareness among brokers, investors, and others in the investment community who are interested in small and micro-cap companies. Market Pulse is dedicated to helping publicly traded companies gain the exposure they need to move forward with the development of their business plans. Market Pulse's goal is to feature equity investments in micro or small capitalization companies that have the potential for long-term appreciation. Market Pulse provides investors with a complete suite of online interactive financial data and tools that includes quotes, charts, company profiles, news, market commentary and SEC filings, just to name a few. Market Pulse offers a free financial newsletter. To subscribe or get more information, visit our home page located at www.market-pulse.com.
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MP, because it relies on information supplied by various third parties disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a MP analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an MP opinion, recommendation or analysis. Information regarding companies which MP has opined upon is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company.
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With this news the ship should start taking off Friday...Best of luck to all of us. GO ERHC!
ERHC: UPSTREAM NEWS
Sao Tome backs off from ERHC
23:08 GMT
THE Sao Tome legislature voted this week against challenging the right of US minnow Environmental Remediation Holding Corporation (ERHC) to exercise priority privileges to acreage equity in the deep waters of the Joint Development Zone managed with neighbouring Nigeria, writes Barry Morgan
In addition to bidding six blocks, ERHC has a right to a specified percentage without paying any signature bonus, attracting flak from some Sao Tomean parliamentarians who are demanding greater transparency.
The latest move paves the way for a smooth awards process for three blocks, with the remaining six licences offered under a recent round saved for allocation later this year. The Abuja-based Joint Development Authority will meet in the Nigerian capital next week to finalise an announcement, sources said.
ERHC, controlled by Nigeria's Chrome Energy, has a right to 30% of JDZ block-2 in which it is bidding jointly with Pioneer Natural Resources. It can claim 25% of block-4 and also registered interest in taking up 20% of block-6.
Few bid for block-6 but present delays in releasing documentation are understood to relate to protracted preparations to bring the block back into the initial awards after pressure was exerted by some in Sao Tome to postpone the award of this and several other blocks following lack of big company interest.
ERHC is said to be on track with Pioneer to jointly acquire operatorship of block-2 and it is understood documentation is complete.
The only other award in the JDZ has been block-1 to ChevronTexaco.
barry.morgan@upstreamonline.com
Sao Tome/Jda website
http://www.nigeriasaotomejda.com/
The Joint Development Authority is about to award two new blocks in Sao Tome's joint zone with Nigeria, licenses 2 and 4.
Nigerian president Olusegun Obansano and his Sao Tome counterpart, Fradrique Menezes, met two weeks ago in Nigeria. The gathering was held ostensibly to sign agreements ensuring the transparency of oil extraction in the Joint Development Zone between their countries, but they also discussed awarding two other licenses in the JDZ.
According to our sources, these are blocks 2 and 4 which are considered the most promising in the area after block 1. Last year, Nigeria's Conoil and the U.S. firm Anadarko submitted the best bids for the 4 license while Canada's Centurion Energy made the best offer for the 2 license.
Under the terms of an agreement with Sao Tome concerning the JDZ, Nigeria's Chrome Energy, headed by Emeka Offor, exercised an option in April to acquire stakes on block 4 and block 2; it took 25% of 4 and 30% of 2. Two weeks ago, the U.S. company Pioneer joined forces with Chrome to manage its stake on block 2.
The size of stakes that will be awarded to others on the blocks is not yet known.
Up to now Pioneer had been active only in South Africa, where it has teamed up with PetroSA on the no. 9 license off Western Cape, and in Gabon, where it controls a field, Olowi. But in recent weeks it has moved into the Gulf of Guinea. In addition to its partnership with Chrome in Sao Tome , the company has joined with Nigeria's Atlas group headed by Arthur Eze on Block H in Equatorial Guinea. The firm is also a partner of Kosmos Energy, a firm set up last year by the leading executives of Triton with backing from the investment funds Warburg Pincus and Blackstone Group.
copengd1, this is all I could find. Wish we had more news. Please post if you should find anything. Thanks!
HOUSTON - April 26, 2004
Source: Environmental Remediation Holding Corporation
The Joint Ministerial Council of the JDZ between Nigeria and Sao Tome and Principe acknowledges ERHC’s Option Selections
Environmental Remediation Holding Corporation (“ERHC”) (OTCBB: ERHC) is pleased to announce that, at meetings on April 23rd and 24th 2004, the Joint Ministerial Council (“JMC”) of the Joint Development Zone between Nigeria and Sao Tome (“JDZ”) acknowledged the Company’s option selections for award of interests pursuant to the exercise of rights under the April 7, 2003 Administration Agreement.
Mr. Chude Mba, President of ERHC said: “ERHC is delighted that the JMC has now acknowledged ERHC’s option selections for award of interests. We look forward to the meeting of the JMC in three weeks’ time when it is expected that the JMC would award the remaining interests in the blocks in the JDZ or will clarify its position on the award of interests in these blocks. We are also delighted that the 2003 JDZ Licensing Round appears to be nearing completion. This will have been a major success for the governments and citizens of both Nigeria and Sao Tome & Principe.”
The full text of the Press Statement released by the JMC at the close of its meeting is as follows:
PRESS STATEMENT
The Joint Ministerial Council (JMC) of the Nigeria-Sao Tome and Principe Joint Development Authority (JDA) met in Abuja on the 23rd and 24th of April 2004.
2. During the Meeting, the JMC deliberated amongst other things on the results of the 2003 JDZ Licensing Round.
3. The JMC noted the exercise of options by ExxonMobil and ERHC based on their respective Settlement Agreement with the Democratic Republic of Sao Tome and Principe (DRSTP).
4. Subsequent to its deliberation, the JMC has approved the results of the 2003 JDZ Licensing Round for Block 1 as follows:
Chevron Texaco; 51%
ExxonMobil; 40%
EER; 9%
The JMC also approved Chevron as operator for the block.
5. The JMC will deliberate further on the results for the other blocks and decisions will be communicated in due course.
6. The JMC also approved the 2004 Budget for the JDA.
7. The next meeting of the JMC will hold in Sao Tome in 3 weeks’ time.
Abuja, 24 April 2004”
End of Press Statement
This press release contains certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Except for historical information contained in this release, these forward looking statements are subject to risks and uncertainties, including government regulation, competition, capital resources, general economic conditions, and other risks detailed in ERHC’s SEC reports. These forward-looking statements can be identified by the use of terminology such as “intends,” “may,” “will,” “should,” “could”, “expects,” and “plans”. Forward-looking statements in this release include the ability of ERHC to exploit its oil and gas exploration concession in Sao Tome and its ability to locate, acquire and develop high potential oil and gas prospects.
For further information, contact:
John Coleman at ERHC, (713) 626-4700 or
Mickey Gentry at Ward Creative Communications, (713) 869-0707
HOUSTON (April 21, 2004 ) –
Environmental Remediation Holding Corporation
ERHC Exercises its Preferential Rights in the JDZ between Nigeria and Sao Tome and Principe
On April 14, 2004 and April 20, 2004, Environmental Remediation Holding Corporation (“ERHC”, “the Company”) (OTCBB: ERHC) submitted 8-K reports to the Securities and Exchange Commission (“SEC”) concerning the Company’s exercise of rights in the Joint Development Zone between Nigeria and Sao Tome (“JDZ”) under the April 7, 2003 Administration Agreement with the Nigeria-Sao Tome & Principe Joint Development Authority (“JDA”).
The following represents the choices made by ERHC and the status of any Signature Bonus payable by the Company for each relevant block:
Choice 1 15% Signature Bonus Free Block 6
Choice 2 15% Signature Bonus Payable Block 5
Choice 3 20% Signature Bonus Free Block 3
Choice 4 30% Signature Bonus Free Block 2
Choice 5 25% Signature Bonus Free Block 4
Choice 6 15% Signature Bonus Payable Block 9
This exercise of ERHC's rights was subject to the following condition: if no license is awarded or a license is awarded and subsequently withdrawn by the JDA prior to the commencement of operations, for any reason (for example, a failure by the licensee(s) to meet the signature bonus conditions), ERHC will be entitled to receive its nominated percentage working interest in that block in any future licensing of that block.
At the time of this press release, the Company has not been informed of the timing of any Joint Ministerial Council meeting or other actions that may be taken by the JDA in order to formally award working interests in any of the JDZ blocks.
This press release contains certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Except for historical information contained in this release, these forward looking statements are subject to risks and uncertainties, including government regulation, competition, capital resources, general economic conditions, and other risks detailed in ERHC’s SEC reports. These forward-looking statements can be identified by the use of terminology such as “intends,” “may,” “will,” “should,” “could”, “expects,” and “plans”. Forward-looking statements in this release include the ability of ERHC to exploit its oil and gas exploration concession in Sao Tome and its ability to locate, acquire and develop high potential oil and gas prospects.
For further information, contact:
John Coleman at ERHC, (713) 626-4700
or Mickey Gentry at Ward Creative Communications, (713) 869-0707
Do you feel they will be a multi dollar stock. "YES" or get bought out by one of the large oil companies? "NO" Do you think the announcement of the block rights will run ERHC over a dollar if they end up owning a large percent of block 2? "YES"
This stock could be $25.00+ in a few years, I have heard as high a $35.00+. Mr. Offer most likly with not sell out to the big guys. In fact Mr. Offer has hinted he wants to be one of the big guys. ERHC already has the % rights, what we are hoping for is to become operator in block 2 if they become operator in block 2 that should puch the stock value over $1.50. Then this fall ERHC gets it's rights in the EEZ. In the EEZ, ERHC has 2-100% rights. that should puch the value over $5.00+. Next is get the oil out of the ground that should be big $$$$$$.
I became insterested in ERHC in 2000 through a friend. Alot of my research is from the internet and my stockbroker. I purchased my first shares of ERHC in 5/2001 @ .08. I am very long in ERHC and will stay that way till the ship comes in. All of my updates come via friends now also in ERHC, newpapers and the internet and of course ERHC. I use a multi search engine on the internet. Best of luck to all of us. Long & strong ERHC!
I have heard on or about 7/24/04 is when 2 or 3 blocks are to be awarded. The blocks most think will be 2 & 4. Block 1 has been awarded ERHC had no rights in block 1 but, ERHC has rights in 2 & 4. With any luck ERHC will be the operator of block 2.
Post from another board. RagingBull Board
By: bosocker
01 Jul 2004, 03:37 PM EDT
Msg. 2011 of 2023
I spoke to Thomas Dean yesterday concerning anyting he could share within legal terms. He told me that within 2-2.5 weeks further news will be released regarding more contracts. I asked about number of employees(12). I asked about number of operational Bioshere Systems(6). I asked about what he thought about the current slide in stock price. He told me to hang on until the next round of "significant" press releases and we should get some upward movement for shareholders. HELLO!!! We are at the 52 week low. I for one am loading up to average down for the next rise in share prices. Do whatever YOU want. Bash the stock lower or sell and leave. OR buy more and be happy. This company and their Technology is worth investing in. They have "partners whom I have checked out and talked to. The company is real and their Technology is something the whole world will want to use. I personally believe the bashing is unfounded, but if you can drive the price lower so I can buy cheaper "more power to ya". I don't really believe bashers affect stock prices though. How many people on this message board are buying or selling enough shares to make the price move? Thank you. Nuf said.
(Voluntary Disclosure: Position- Long; ST Rating- Buy; LT Rating- Strong Buy)
Many significant milestones have been accomplished by LETH. As LETH enters the next stage of its development, with the expected unit in Louisiana, I feel that LETH'S significant and specific knowledge will consolidate earlier successes that will further benefit shareholders.
In my opinion in the crusade of what we need are more dynamic companies like LETH and more people of vision and determination like Albert Reynolds.
Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM), supplies energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas, and many other traditional and non-traditional waste materials.
Enough said.
Life Energy's technology unlocks numerous large lucrative markets. There is an urgent worldwide need for cost-effective renewable energy sources and a corresponding universal need to solve critical problems in the disposal of waste. Life Energy's EcoTechnology , an economically feasible and commercially rewarding solution to a global problem, represents essential humanitarian benefits for both present-day and future economic and environmental needs.
Life Energy's unique proprietary technology, EcoTechnology , supplies energy through cost-effective and environmentally safe processes. The Biosphere Process™, a central part of the EcoTechnology™ system, safely, efficiently and under minimal oxygen conditions, gasifies traditional and non-traditional waste materials and or fossil fuels into electricity and other beneficial by-products. The Biosphere Process™ assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), petroleum and polychlorinated biphenyl (PCB) waste, agricultural surpluses or effluent, medical waste, industrial waste, shale oil, sour or wet natural gas and many other traditional and non-traditional waste materials.
I have read many times that bashers only bash good stock. I for one think this is good stock. Best of luck to all.
getgreen, I think you are right. Hold on folks we should be in for a wonderful ride to. Up Up and away ERHC.
What a nice day for ERHC stock
ENVRNMTL REMDATN (OTC BB:ERHC.OB) Quote data by Reuters
Last Trade: 0.70
Trade Time: 3:59PM ET
Change: 0.145 (26.13%)
Prev Close: 0.555
Open: 0.58
Bid: 0.69 x 2500
Ask: 0.70 x 2500
1y Target Est: N/A
Day's Range: 0.58 - 0.71
52wk Range: 0.18 - 0.96
Volume: 7,140,200
Avg Vol (3m): 1,980,590
Market Cap: 419.57M
P/E (ttm): N/A
EPS (ttm): -0.005
Div & Yield: N/A (N/A)
Not true Timing. Not everyone is maybe only you are getting out. Some still think this could be what we need in new technology. So with that being said I will wait.
ERHC Announces Appointment of Mr. Ali Memon as New President, CEO and Director
Tuesday July 13, 1:56 pm ET
HOUSTON--(BUSINESS WIRE)--July 13, 2004--On July 12, 2004, the Board of Directors of Environmental Remediation Holding Corporation ("ERHC", "the Company") (OTCBB:ERHC - News) accepted the resignation of Mr. Chude Mba as President, CEO and Director of the Company. Mr. Mba's resignation will take effect from July 31, 2004. After this date, Mr. Mba will continue to advise the Company as a consultant.
Also on July 12, 2004, the Board of Directors of the Company appointed Mr. Ali Memon as President, CEO and Director of the Company. Mr. Memon's appointment will take effect from August 1, 2004.
Mr. Memon brings 24 years of international oil and gas experience gained through various roles at Marathon Oil Company. Mr. Memon started his oil industry career in 1979 with Marathon Oil in the United Kingdom where he worked on the development and financing of North Sea projects. After moving to Houston in 1992, he led many successful negotiations in support of international oil and gas exploration and production projects in West and North Africa, North America, Australia and the Far East. More recently, as a Director in Business Development, a position he held until he left Marathon in 2003, he was responsible in a leadership role for the screening, evaluation, and development of global business.
Before joining ERHC, Mr. Memon's last employment was Vice President, International Business Development, with Dolphin Offshore.
Mr. Memon holds a Bachelors of Science (with Honors) degree in Electrical and Electronics Engineering from the University of London where he also completed postgraduate studies in Petroleum Engineering. He is also a Fellow of the Institute of Chartered Accountants in England and Wales.
Commenting on the transition, Mr. Chude Mba stated: "I have very much enjoyed working for ERHC and am pleased to note that many significant milestones were accomplished during my tenure. As ERHC enters the next stage of its development, with the expected award of license(s), I feel that a CEO with significant oil industry-specific knowledge will consolidate earlier corporate successes that will further benefit shareholders. Mr. Memon fits that bill. In my new role as consultant, I would continue to work closely with the Company to ensure a smooth transition, and also provide on-going support to the Company at the regional level."
----------------------------------------------------------------
Contact:
ERHC, Houston
John Coleman, 713-626-4700
UPSTREAM NEWS
ERHC finds new friend for Gulf of Guinea play
23:08 GMT
US energy company Environmental Remediation Holding Corporation has signed a memorandum of understanding with US explorer Pioneer Natural Resources to bid for key deep-water acreage in the Joint Development Zone managed by Nigeria and Sao Tome & Principe in the Gulf of Guinea.
The duo are targeting block 2 under mutually agreed conditions providing a period of exclusivity "whereby the companies will jointly evaluate and negotiate participation," according to an ERHC spokesman.
Both companies will sign a participation agreement relating specifically to block 2, although officials this week hinted that block 4 may also be awarded within a fortnight.
Suitors have been disappointed that despite offering nine blocks in a long-delayed round last year, only one so far has been allocated.
The majority are tipped for a rebid in an as-yet-unannounced second round, perhaps later this year. Operatorship of block 1 was earlier awarded to ChevronTexaco, with junior equity going to ExxonMobil and Oslo-based independent Energy Equity Resources.
ERHC kick-started interest in the Sao Tome offshore several years ago when it signed an exclusive acreage deal with the then Sao Tome state oil company STPetro, whose rights it later acquired.
Pioneer is a Dallas-based E&P independent with operations in the US, Canada, Argentina, South Africa, Gabon and Tunisia.
barry.morgan@upstreamonline.com
Press Release Source: Life Energy & Technology Holdings, Inc.
Dr. Kenneth D. Kaunda Thanks Life Energy & Technology Holdings Inc. and Diamond Ridge Advisors for their Help in the Fight against AIDS in Africa
Wednesday June 30, 9:15 am ET
FALLS CHURCH, Va.--(BUSINESS WIRE)--June 30, 2004--Dr. Kenneth D. Kaunda, founding President of Zambia and founder of the Kaunda Foundation for the Relief of AIDS in Africa, today thanked Life Energy & Technology Holdings Inc. (OTCBB:LETH - News; FWB:LFT) and Diamond Ridge Advisors for their help in the fight against AIDS in Africa.
Dr. Kaunda congratulated LETH for arranging a financial commitment from Diamond Ridge Advisors of $450,000,000, which it is intended will be used to establish a joint venture Biosphere Process(TM) System assembly plant in Libya, from where it is intended that U.S.-manufactured Biosphere Process(TM) Systems will be assembled for deployment throughout Africa. Dr. Kaunda stated, "I have promised my good friend, Dr. Albert Reynolds, Chairman of Life Energy, that I will be working tirelessly with my brother, Colonel Mu'ammar Abu-Minyar al-Qadhafi, who I would like to thank, to bring to fruition the intended deployment of Libyan-assembled Biosphere Process(TM) Systems throughout sub-Saharan Africa.
"It has always been my position that the fight against AIDS was a war that required both a combination of education and health care together to win. Over 44 million people in Africa are infected with AIDS, this is approximately equivalent to the combined populations of New York, Boston, Washington and Miami.
"The electricity generated by the Life Energy micro power generation systems throughout Africa, especially in remote areas will facilitate computer literacy, Internet access, education, refrigeration for medicines, air conditioning for hospitals, and water purification; these are the vital weapons that will enable us to win this war. What we need in Africa are more dynamic companies like Life Energy and more people of vision and determination like Albert Reynolds.
"In my opinion the crusade against HIV-AIDS in Africa by rock superstar Bono of the band U2 is now beginning to reach the people that can give us their help in this war against illiteracy, AIDS, and poverty in Africa and the Third World."
About Kenneth David Kaunda
Kenneth David Kaunda (born April 28, 1924) became secretary of the Northern Rhodesia African Congress in 1950, and his unique political efforts resulted in the establishment of 116 branches of the African National Congress (ANC). In 1953, the ANC membership elected him Secretary General of the party. In 1958, he formed the Zambia African National Congress (ZANC) and later the United National Independence Party (UNIP). As Minister of Local Government and Social Welfare, Kaunda established himself as the most influential African in the government. Finally, on October 24, 1964, Kaunda assumed the elected office of President of the new Republic of Zambia, a position which he held until 1991.
About Life Energy Technology & Holdings Inc.
Life Energy (http://www.le-th.com) is rapidly becoming a leader in the environmental infrastructure and electricity generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM), supplies energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas, and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans, (ii) trends affecting the Company's financial condition or results of operations, (iii) the Company's growth strategy and operating strategy, and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The company does not spam or endorse spam, and has no control over third-party spamming.
----------------------------------------------------------------
Contact:
Life Energy & Technology Holdings, Inc.
Dr. C.A. McCormack, 866-318-5380
www.le-th.com
----------------------------------------------------------------
Source: Life Energy & Technology Holdings, Inc.
Form 8-K for LIFE ENERGY TECHNOLOGY HOLDINGS INC
----------------------------------------------------------------
24-Jun-2004
Other Events and Financial Statements & Exhibits
Item 5. Other Events.
The Company has agreed to take an additional loan from Diamond Ridge Advisors,Inc to be used for the expansion of Life Energy primary business and theformation and funding of a new subsidiary of Life Energy for an oil and gasdivision for the exploration in Libya and North Africa. All work in Libya issubject to obtaining the necessary licenses from the United States Department ofCommerce and Department of Treasury The final contract is subject to Life Energyand Technology Holdings obtaining the above licenses.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit No. Description
10.1 * Statement of Unaminous Written Consent in Liew of the Annual Meeting of the Directors of Life Energy & Technology Holdings,Inc. Dated June 2, 2004.
10.4 * Loan Agreement between Life Energy Technology Holdings, Inc., and Diamond Ridge Advisors dated June 3, 2004.
* Filed herewith.
Item 7A. CONTROLS AND PROCEDURES.
As required by Rule 13a-15 under the Exchange Act, within the 90 days prior tothe filing date of this report, the Company carried out an evaluation of theeffectiveness of the design and operation of the Company's disclosure controlsand procedures. This evaluation was carried out under the supervision and withthe participation of the Company's management, including the Company'sPresident, Chief Executive and Chief Financial Officer. Based upon thatevaluation, the Company's President, Chief Executive and Chief Financial Officerconcluded that the Company's disclosure controls and procedures are effective.There have been no significant changes in the Company's internal controls or inother factors, which could significantly affect internal controls subsequent tothe date the Company carried out its evaluation.
Disclosure controls and procedures are controls and other procedures that aredesigned to ensure that information required to be disclosed in Company reportsfiled or submitted under the Exchange Act is recorded, processed, summarized andreported, within the time periods specified in the Securities and ExchangeCommission's rules and forms. Disclosure controls and procedures include,without limitation, controls and procedures designed to ensure that informationrequired to be disclosed in Company reports filed under the Exchange Act isaccumulated and communicated to management, including the Company's ChiefExecutive and Chief Financial Officer as appropriate, to allow timely decisionsregarding required disclosure.
Come on blocks 2 & 4 we need news. With any luck news could be out soon. If we are lucky enough to receive some news this stock should fly. Everyone keep watching and post if you find any news out there. Up up and away ERHC your time has come to fly.
Upstream: Pioneer farms in to Gulf of Guinea
(18.06.2004)
Pioneer farms in to Gulf of Guinea
US outfit strikes deal with Roc to gain access to deep-water play Dallas-based Pioneer Natural Resources has farmed into an exploration block off Equatorial Guinea where an exploration well is close to completion.
The US outfit, headed by Scott Sheffield, currently has acreage off South Africa and Gabon but this deal with Roc Oil gives it access to the Gulf of Guinea and a deep-water African asset for the first time.
Pioneer will earn a 20% stake in block H off the mainland enclave of Rio Muni in return for paying Roc's 70% share of the cost of the Bravo-1 wildcat and also the cost of what will be the Australian company's retained 15% stake in a second well to be drilled in block H next year.
In addition, Pioneer will provide a further $2.5 million work
programme in the event that a discovery is approved for development.
Once the Pioneer farm-in has been completed, the block H joint
venture will consist of operator Nigeria's Atlas Petroleum (45%), Pioneer (20%), Sasol (20%) and technical manager Roc (15%).
These holdings will change if and when South African player Sasol completes its plans to pull out of Equatorial Guinea.
The Bravo probe was spudded on 6 June by the Sedco Energy rig in 1509 metres of water.
Target depth is 3200 metres and the well is expected to imminently hit the zone, prior to plugging and abandonment, which will be undertaken regardless of the results of the well.
The well is targeting a 116-million-barrel Tertiary channel sands prospect within a stratigraphic trap identified by high-resolution 3D seismic.
Commenting on the well, Roc chief executive John Doran said : "For Roc, Bravo-1 is a potential company-maker.
However, we should never lose sight of the fact that it is also a wildcat exploration well testing a stratigraphic play concept in deep water off West Africa.
"Because of this, Bravo-1 has a risk profile somewhat higher than that which is usually considered to be appropriate for a company of Roc's size which is one of the reasons why we have farmed out to Pioneer."
Pioneer is also pursuing access to other African upstream plays
through a deal signed earlier this year with privately owned, Dallas-based Kosmos Energy.
Iain Esau
UPSTREAM!
Duo team up on JDZ
Environmental Remediation Holding Corporation (ERHC) and Pioneer Natural Resources have entered into a memorandum of understanding over exploration of Block 2 of the Nigeria/Sao Tome and Principe Joint Development Zone in the Gulf of Guinea.
A statement said today that the agreement provides a period of exclusivity for the companies to "evaluate jointly and negotiate participation in Block 2 of the JDZ.
The MoU also sets out the terms of a participation agreement relating on the block.
THE NEWS IS OUT!!!Environmental Remediation Holding Corporation Announces Memorandum of Understanding with Pioneer Natural Resources USA Corporation
Business Wire - June 24, 2004 09:05
HOUSTON, Jun 24, 2004 (BUSINESS WIRE) -- Environmental Remediation Holding Corporation ("ERHC") (OTCBB:ERHC), announced today that Pioneer Natural Resources USA, Inc., the wholly-owned subsidiary of Pioneer Natural Resources Company ("Pioneer") (NYSE:PXD) has entered into a Memorandum of Understanding with ERHC for Block 2 of the Nigeria/Democratic Republic of Sao Tome and Principe Joint Development Zone ("JDZ") in the Gulf of Guinea offshore West Africa.
The Memorandum of Understanding provides a period of exclusivity whereby the companies will jointly evaluate and negotiate participation in Block 2 of the JDZ. The MOU also sets forth the terms and conditions under which the companies will enter into a Participation Agreement relating to Block 2 of the JDZ.
Environmental Remediation Holding Corporation is an oil and gas exploration company focused on the Nigeria/Democratic Republic of Sao Tome and Principe Joint Development Zone ("JDZ") in the Gulf of Guinea offshore West Africa. For more information, visit ERHC's website at www.erhc.com.
Pioneer is a large independent oil and gas exploration and production company with operations in the United States, Canada, Argentina, South Africa, Gabon and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.
SOURCE: Environmental Remediation Holding Corp.
Environmental Remediation Holding Corporation, Houston
John Coleman, 713-626-4700
or
Ward Creative Communications, Houston
Mickey Gentry, 713-869-0707
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Form 8-K for ENVIRONMENTAL REMEDIATION HOLDING CORP
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7-Jun-2004
Other Events
ITEM 5. OTHER EVENTS
On May 27, 2004, Mr. Eze R. Echesi tendered his resignation with effectfrom June 2, 2004 as Chief Financial Officer of the Company due to demands onhis time from his other official engagements and personal reasons. On June 3,2004, the Board of Directors of the Company accepted Mr. Echesi's resignation.The Board of Directors appointed Mr. Cosmas Ikechukwu Okpala as Chief FinancialOfficer to succeed Mr. Echesi.
Mr. Okpala has served as Senior Manager/Head of the Investment BankingDivision of African Express Bank, Nigeria since February, 2003. From April 2001to February 2003, Mr. Okpala served as General Manager/Chief Operating Officerof First Capital Garanti Limited. Mr. Okpala had previously spent 11 years invarious financial positions with banks and private institutions. Mr. Okpalaholds three degrees including a Masters of Business Administration from theUniversity of Nigeria, a Masters of Banking & Finance from FINAFRICA, Italy anda Bachelor of Science in Business Administration from California StateUniversity, U.S.A.
Sao Tome sacks oil licensing chiefs
Tuesday June 1, 8:27 am ET
By Tom Ashby
LAGOS, June 1 (Reuters) - The tiny African island nation of Sao Tome and Principe has sacked two oil officials after the bi-national authority in charge of oil licensing with Nigeria failed to award exploration contracts as expected.
Sao Tome has also nominated one of its nationals, Carlos Gomes, to replace Nigeria's Tajudeen Umar as chairman of the joint authority, according to a presidential decree dated May 31 obtained by Reuters on Tuesday.
The two officials are Flavio Dos Santos and Luis Dos Prazeres, who were on the four-member board of the joint authority.
Analysts said the move was the latest in a string of mishaps marking Sao Tome's entrance into the world of big oil, which has been plagued by a military coup and accusations of high level corruption.
The decree gave no reasons for the reshuffle, but a Nigerian
spokesman for the authority said the changes were in line with its founding charter, which establishes annual rotation of the
chairmanship of the four-man board.
"I don't think it has anything to do with the licensing round. The change was overdue according to our statutes," said Sam Dimka, spokesman for the joint development authority.
The two Nigerian representatives remain on the board of the joint authority, he added.
But analysts said the reshuffle probably reflected a behind-the-
scenes power struggle over the potentially lucrative contracts in one of Africa's last unexplored oil reservoirs.
"At first I thought the whole process looked transparent, but when the delays started to creep in and now this reshuffle, it tells you that all is not well," said Mosto Onuoha, Shell Professor of Geology at the University of Nigeria.
"There has clearly been a clash of powerful interest groups," he
added.
BIG BIDS
The authority, which is jointly managed by Sao Tome and Nigeria,
opened the licensing process for nine offshore blocks last October, and attracted bids as high as $120 million for the most prospective acreage.
The blocks are located in the Gulf of Guinea, one of Africa's most prolific oil basins where several billion-barrel oil finds have been made over the past decade.
After a six-month delay, the authority announced the award of only one block in April and said the other winners would be decided at an unspecified future date.
No explanation was given for the delays.
ExxonMobil (NYSE:XOM - News), ChevronTexaco (NYSE:CVX - News) and little-known Equity Energy Resources won the highly fancied block one.
Further awards were originally expected at a joint ministerial
meeting due to be held on May 27, but the authority spokesman said this had been postponed due to "prior commitments" of the two countries' ministers.
The faltering licensing process was not the first controversy to
blight Sao Tome's first steps into the world of big oil.
The impoverished nation of 170,000 people has been rocked by
political instability since the early 1990s, when seismic indications of its potential oil wealth first emerged.
President Fradique de Menezes survived a military coup last year
after giving the military rights to oversee oil deals amid
accusations of corruption.
Only last month, four ministers were reshuffled in a political row about suspected shady oil deals.
Before the licensing started, U.S. oil giant ExxonMobil and little-known ERHC (OTC BB:ERHC.OB - News) obtained preferential rights to take a big share in several blocks. The authority said this was in return for exploration work already undertaken.
When the full list of bidders was revealed, it contained several
newly created companies whose credentials in the oil business were unproven.
News from Upstream...ERHC...
JDZ meeting pushed back
The Joint Ministerial Council between Nigerian oil officials and diplomats from Sao Tome & Principe has delayed meeting until the first week of June,
The Abuja-based Joint Development Authority set up to administer the licensing round and allocate ultra deep-water blocks in the Gulf of Guinea was supposed to have made preliminary awards this week but so far only one PSC has been announced block one to ChevronTexaco.
Hopes have faded that block six will be awarded this time round, leaving blocks two and four as the only other two slated to emerge after a bidding exercise that officially put nine blocks on the table.
The latest delay is believed to have been approved to allow more time for the big players to complete negotiations.
The line-up presently tipped to take over blocks 2 and 4 now includes ExxonMobil, which never bid the round and failed to formally exercise its priority rights beyond block 1, US minnow Environmental Remediation Holdings Corporation (which did), ChevronTexaco and Amerada Hess. Anadarko remains in the running but is understood to have baulked at the high cost of entry.
Running parallel to the JDA's decision over the Joint Development Zone is Sao Tome's desire to approve licences for its own Exclusive Economic Zone. "Also being worked on this week" is a multilateral deal to secure key EEZ blocks involving ExxonMobil, ERHC and ChevronTexaco, said one insider.
Barry Morgan
excel, I think you are right all rumors. Rumors caused the drop. Does the below post sound logical to any of you? YES!ERHC does follow the rules. I personally have great faith in Mr. Offer and ERHC. Go ERHC long & Strong. Best of luck to all of us.
I think you are right. Reading other boards they say this story is not true and in fact was written by the same reporter that claimed ERHC had 10% of block one which also was not true. This reporter needs to get his facts straight.
This may explain it.
I four this post on another board.
Has anyone consider this maybe a classic case of stock manipulation by a BIG oil company?
I wonder if this reporter was talking to a sober person over there? Was thier source an employee of the JDZ or JDC?
I just wonder.
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=34053
Life Energy & Technology Holdings Signs Agent's Agreement with Konstantin Bojilov, Ltd. Of Bulgaria
FALLS CHURCH, Va.
Life Energy & Technology Holdings, Inc.
Dr. C.A. McCormack, 866-318-5380
www.le-th.com
Life Energy & Technology Holdings Inc. and Konstantin Bojilov, Ltd. of Bulgaria announce the signing of an agency agreement. Konstantin Bojilov is negotiating with three different municipalities in Bulgaria for the purchase of several Biosphere Process(TM) Systems.
The agreement should have a combined initial sale price of over $40,000,000 dollars US and the Company expects this to be the first of many sales to that area in the coming year. Dr. Albert Reynolds, Chairman of Life Energy & Technology Holdings Inc. (Prime Minister of the Republic of Ireland 1992-95), said: "This agreement bodes well for both Life Energy and Konstantin Bojilov. Bulgaria is in need of efficient new technology that can reduce their waste stocks while reducing the dependence on imported oils by using the waste streams of the country to produce electricity in an environmentally safe manner."
Mr. Konstantin Bojilov, a principal in Konstantin Bojilov, Ltd., has stated the need for Life Energy's technology. "I believe that the technology developed by Life Energy & Technology Holdings represents an unprecedented opportunity to solve the serious pollution and waste disposal problems facing the world and especially the countries of Eastern Europe and the former Soviet Union. I look forward to working with LETH in implementing the Biosphere Process System in this region because, of all other waste-to-energy methods, it has the unique advantage to provide a quick return on the original investment, which makes it very attractive to both local governments and private businesses. The Biosphere technology not only helps resolve the environmental damage but it also creates much needed commercial opportunities and jobs here in Bulgaria and other neighboring countries."
Mr. Konstantin Bojilov obtained an economics degree from the Institute of Economic Studies in Varna, Bulgaria and has over 15 years experience in running entrepreneurial businesses in the real estate and financial industries.
About Life Energy Technology & Holdings Inc.
Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM), supplies energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The company does not spam or endorse spam, and has no control over third party spamming.
Clarification on press release
Please read and understand that the JDZ release only NOTED and not awarded XOM & ERHC preferences the awards are coming in 3 weeks.
Gigwoof, Thanks for your dd you have just been appointed to assistant manager of IHUB ERHC. Keep up the good work. chcr
Press Release Source: Environmental Remediation Holding Corporation
The Joint Ministerial Council of the JDZ Between Nigeria and Sao Tome and Principe Acknowledges ERHC's Option Selections
Monday April 26, 11:09 am ET
HOUSTON--(BUSINESS WIRE)--April 26, 2004--Environmental Remediation Holding Corporation ("ERHC") (OTCBB:ERHC - News) is pleased to announce that, at meetings on April 23 and 24, 2004, the Joint Ministerial Council ("JMC") of the Joint Development Zone between Nigeria and Sao Tome ("JDZ") acknowledged the Company's option selections for award of interests pursuant to the exercise of rights under the April 7, 2003 Administration Agreement.
Mr. Chude Mba, president of ERHC said: "ERHC is delighted that the JMC has now acknowledged ERHC's option selections for award of interests. We look forward to the meeting of the JMC in three weeks' time when it is expected that the JMC would award the remaining interests in the blocks in the JDZ or will clarify its position on the award of interests in these blocks. We are also delighted that the 2003 JDZ Licensing Round appears to be nearing completion. This will have been a major success for the governments and citizens of both Nigeria and Sao Tome & Principe."
The full text of the Press Statement released by the JMC at the close of its meeting is as follows:
PRESS STATEMENT
The Joint Ministerial Council (JMC) of the Nigeria-Sao Tome and
Principe Joint Development Authority (JDA) met in Abuja on the 23rd
and 24th of April 2004.
2. During the Meeting, the JMC deliberated amongst other things on
the results of the 2003 JDZ Licensing Round.
3. The JMC noted the exercise of options by ExxonMobil and ERHC
based on their respective Settlement Agreement with the
Democratic Republic of Sao Tome and Principe (DRSTP).
4. Subsequent to its deliberation, the JMC has approved the
results of the 2003 JDZ Licensing Round for Block 1 as follows:
Chevron Texaco; 51%
ExxonMobil; 40%
EER; 9%
The JMC also approved Chevron as operator for the block.
5. The JMC will deliberate further on the results for the other
blocks and decisions will be communicated in due course.
6. The JMC also approved the 2004 Budget for the JDA.
7. The next meeting of the JMC will hold in Sao Tome in 3 weeks'
time.
Abuja, 24 April 2004
End of Press Statement
This press release contains certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Except for historical information contained in this release, these forward-looking statements are subject to risks and uncertainties, including government regulation, competition, capital resources, general economic conditions, and other risks detailed in ERHC's SEC reports. These forward-looking statements can be identified by the use of terminology such as "intends," "may," "will," "should," "could," "expects," and "plans." Forward-looking statements in this release include the ability of ERHC to exploit its oil and gas exploration concession in Sao Tome and its ability to locate, acquire and develop high potential oil and gas prospects.
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Contact:
ERHC, Houston
John Coleman, 713-626-4700
or
Ward Creative Communications, Houston
Mickey Gentry, 713-869-0707
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Source: Environmental Remediation Holding Corporation