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He resigned last Nov. He went to Investors Village. He had the site pretty much to himself. Came back in late April. Maybe he went on vacation this time.
Bob
I resigned from IHub
It doesn't look like many are posting here but perhaps that will change. I no longer care to be a part of the IHub board. The majority of the posters there seem more interested in having a lovefest with management and with the company than they do in discussing the issues surrounding this company. Combine that with the threats I and my family have received and the vile Private Messages there were sent to me and that made me decide it was better to move to a different forum where open discussion is welcomed instead of being met with threats and inappropriate private messages . Further harrasment of this type which violate my first amendment rights will result in me reporting these threats, harassment and stalking activities to the proper authorities. I will be taking further actions of this type very seriously. I am still long this stock, I have been for a long time, I have never shorted or traded this stock so the only thing I want is for the stock to go up. Some beileve that honest discussions hurt that chance and are doing all they can to censor any type of honest discussion. I think it is better to get everything on the table and discuss it and I will be doing that here.
Ok, now back to ERHC. It has been four weeks since the shareholders meeting and we still have no information on when the rights offering will occur. There is some dispute about whether we were supposed to get that information in a few weeks or if it was by the end of the year. The problem here is obviously all the times that this management has missed their target dates. Some want to absolutely lie about the fact that this company has consistently missed their target dates. Anybody who has held this stock knows this is true. For some reason some idiots want me to post which dates they missed. I won't be doing their DD for them. I don't really give a damn if they believe dates were missed or not and its not my job to tell them which dates were missed and when they were missed. It happened and it is a part of ERHC's history. The current share price clearly reflects this problem and ERHC desperately needs to start doing what they said they are going to when they said they were going to do it. It is the ONLY way to restore the lost credibility.
ERHC was obviously very late in starting a plan B. Some people want to say otherwise. But when an exploration company is not going to drill a single well in 5 years you KNOW they screwed up. To say otherwise is ignoring the facts. It is unaccpetable to have 5 years or more without drilling a single well.
And finally, I want to talk about conferences. Some want us to believe that the conferences that ERHC went to led to them getting the blocks in Kenya and Chad. That is ridiculous. One minister made one statement about promoting their blocks at conferences and suddenly that is proof of how valuable these conferences were. Sorry but that is ridiculous. We don't even know if ERHC attended the conferences in question. I know for a fact that ERHC attended many conference where nobody was offering up any blocks becuase I was there. Block assignments are done after months of direct negotiations with the country that is offering the blocks. I think ERHC managment would be insulted that some believe all they needed to do was show up at a conference and voila the blocks are theirs.
Maybe they had a fishbowl at the conference door, Ntephe dropped in his business card and he won the drawing. Kenya and Chad are ours. Woohoo. The lack of common sense of many is truly amazing.
Tullow has a op. update scheduled for Wed. 7/3.
Hoping HDY included.
Bob
Hey, no problem. I'm just about to beat holes into the walls! Frustrated!
Another thing, Monday starts Q3. Six months gone this year. How are they doing on their schedule of wells this year? Maybe they can be more realistic! If they import drill rigs and have 6 working, that means at most 6 more wells. The first half of year they completed what? Maybe we learn next Wednesday.
Guess I should have attended the AGM. But 3K mile trip just to be thrown out of the meeting, well not worth it. Maybe next year.
Bob
Sorry I vented, but I needed that.
edited for spelling
Well, if the news is leaking I guess we will know by tonight or early next week.
Just for the record, I'm long and have not sold a share since buying <$2.
So you are saying the news is bad?
Bob
I don't know what to think about AOI. We were misled about 2 wells in Somolia last year (KH). Then in May, we were misled about delays. But someone knew! On May 17 the share price started down. On May 18 our COB (LL) revealed in Paris, a delay. The share price continued down. They finally got around to issuing a release on May 20. By May 22 the share price was down from $7 to $6. Bush league! Wonder who knows what news will be issued next week? Or is there another delay? Someone acting like news is out and bad.
Bob
Another update, sorry TamTam.
http://www.asx.com.au/asxpdf/20130624/pdf/42gmn2yfp2fyxq.pdf
I think we are the only 2 holding this one.At least the only 2 who come to this site.
bob
No no no, they are part of the dowery for Peters new wifes' family. check out the wedding party in the background. lol
Seem to remember Weatherford 804 somewhere in Kenya or Ethiopia.
Drill baby drill!
Bob
Toward the end of the video, the name of the drill rig is shown for about a half second. Think the number is 804 or 604. Wonder if that is Ngamia 1 drillsite?
Bob
GE getting into fracking. Don't know if this is a good thing.
http://www.foxnews.com/us/2013/05/28/ge-says-it-is-investing-billions-to-improve-fracking-oil-drilling/
Bob
Hi Tamtam,
Not trying to beat you. Found that gem at 9:30PM EDT. UTC -4 hours. Probably after midnight your time. ASX opens at 8:00 PM local time here. All we want is "Drill Baby Drill"
Bob
Namibia resource estimate out. 8.2B bbl.
Heavy trading today.
http://www.asx.com.au/asxpdf/20130524/pdf/42g2nkdycghsx5.pdf
Can we find a bottom, please.
God bless the folks in Oklahoma.
Bob
spelling edit.
moderators could you please let the chart people know the extra e did not happen. Even Schwab is screwed up.
Bob
Simba farmout 66% Block 2A Kenya
from Stockhouse board.
•The transaction provides a significant investment in Simba's Kenya asset, delivering a fully carried predrill exploration program and a commitment to drill and carry Simba for one exploration well; ?Ajax is to commit to a work program including drilling one well for Simba representing a gross investment of up to $36.5-million (U.S.) (assuming a well cost of $25-million (U.S.) in Kenya);
• ?Ajax will pay Simba up to $3.1-million (U.S.) in back costs. In addition, Ajax will provide a net carry of up to $12.4-million (U.S.) (assuming a well cost of $25-million (U.S.)).
Hi Tamtam, a board member just bought over 100K shares also.
Go figure?
Bob
Quarterly activities report out. Looks like a couple of good holes in plan this year.
http://www.asx.com.au/asxpdf/20130429/pdf/42fhvzkwr4433t.pdf
Bob
ANZAC day today.
Bob
From Yahoo "In Play' news.
Not one of our blocks, but nearby.
Bob
7:16AM Anadarko Petro provides East Africa exploration update; Orca-1 discovery well encountered ~ 190 net feet (58 meters) of natural gas pay in a Paleocene fan system (APC) 79.45 : Co announced the discovery of a new natural gas accumulation fully contained within the Offshore Area 1 of the Rovuma Basin of Mozambique. The Orca-1 discovery well encountered approximately 190 net feet (58 meters) of natural gas pay in a Paleocene fan system. The Orca-1 exploration well was drilled to a total depth of approximately 16,391 feet (4,996 meters), in water depths of approximately 3,481 feet (1,061 meters). Co is the operator in the Offshore Area 1 with a 36.5% working interest. Co also completed drilling its Kubwa well in the L-07 Block offshore Kenya, which encountered non-commercial oil shows in reservoir-quality sands. Co operates the L-07 Block with a 50% working interest
$16.5M net.
L6 concession expanded!
http://www.asx.com.au/asxpdf/20130327/pdf/42dxfs7cnq7h1q.pdf
Schwab is located in California. They use "Schwab Bank" for account cash balances. So does anyone using Schwab get disallowed?
Bob
Hi tamtam,
They got tossed from the ASX300 today. I put in
a small buy order here in the US at the previous day's close and the ask jumped to $.10, go figure?
Bob
Beware the Ides of March!
http://en.wikipedia.org/wiki/Ides_of_March
Shame St. Paddy's day is on Sunday, maybe we would have had better luck, or at least a hangover. LOL
Subscribed 100% and over subscribed 100%.
Bob
Removed ASX 300 as of 3/15. Why did they bother adding PGL in the first place? http://www.asx.com.au/asxpdf/20130301/pdf/42dd4z50y04141.pdf
Bob
New L6 resource study out. WOW!
http://www.asx.com.au/asxpdf/20130227/pdf/42d9sq7t2h9hs2.pdf
6 month report/financials out.
http://www.asx.com.au/asxpdf/20130222/pdf/42d6ws2kwtzrjm.pdf
I meant that as a joke.
Hopefully during also.
Bob
Was the cocktail party before or after the site visits?
Just wondering.
Bob
Hi TT. Tullow reports '12 results next Wed. Maybe a crumb then.
Bob
Further info:
http://ocean-rig.irwebpage.com/files/origfleet110612.pdf
Ocean Rig Olympia is drilling for Tullow and Eirik Rounde may be going to Ireland. Then back to W. Africa per todays news. Or its staying in W. Africa and saving the 30 days of mobilization in Q1.
Or its going to Ireland, never to return.
The plot thickens.
bob
I saw that. Rigzone is really slow to update. Noticed about 2 weeks ago that Ocean Rig Olympia (drillship) was approaching Ghana. Rigzone still shows it in Angola drilling for ToTal. It appears to be in a ToTal block off Ghana being serviced by a whole bunch of "Bourbon" support ships. That Ireland comment about Eirik Rounde's contract is bizarre.
Eirik Raude gets W. Africa 4 well contract:
4:06PM Ocean RIG UDW announces $1.35 bln bank facility; announces contract award for the Eirik Raude (ORIG) 17.53 -0.18 : The co announced that it has received firm commitments from lenders for a $1.35 billion syndicated secured term loan to partially finance the construction costs of the Ocean Rig Mylos, the Ocean Rig Skyros and the Ocean Rig Athena. This facility has a 5 year term, and approximately an 11 year repayment profile. The facility bears interest at LIBOR plus a margin. Lead banks are DNB Bank and Nordea Bank supported by several other commercial lenders. Also participating in this financing are export credit agencies Garanti-Instituttet for Eksportkreditt, Export Credit Norway and the Import-Export Bank of Korea. Also, co has entered into definitive documentation for one of its semi-submersible drilling rigs, the Eirik Raude, with a major oil company. The drilling contract is for a firm four-well program plus options, with an estimated duration of about 12 months, for drilling offshore West Africa, with an estimated backlog of about $217 mln, including mobilization and demobilization. The rig is scheduled to commence this contract in the second half of 2013, in direct continuation of its previous contract in Ireland.
Hi tamtam, I recieved your PM. I do not have the capability to answer. I am not a wealthy investor. I became an active investor in late 2009 when I retired. My career was spent as a electric utility worker who did not have access to trade stocks while employed. Perhaps when PCL hits it big, I will upgrade.
Bob
tamtam, I have a time zone advantage living in US EST zone (New York). ASX opens 1800 local hours for me. I assume its after midnight for you. Right now it really is not too important as there are about 6 people who read this board. I plan to add to my holding soon. Currently slightly underwater.
Bob
Hi TamTam,
No I still have my original buy. I will add soon. They have good potential for the coming year. Oil Oil Oil!
Bob
Quarterly Activities Report out.
http://www.asx.com.au/asxpdf/20130131/pdf/42crn45szrlwfz.pdf
Bob
Edit: also cashflow report out.
http://www.asx.com.au/asxpdf/20130131/pdf/42crnd7x8ccsm8.pdf