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Robjer; Some Of What You Said Is True. Have a nice day sir.
Finally Got My AON Filled Today. eom
Truer Words Have Never Been Spoken. A fabulous price to buy shares.
AON: All Or None. To damn many times I put in an order, they will sell me a few shares but the rest of the order doesn't get filled. Thereby costing me a $9.99 commission fee.
Like "Thanks for the ten bucks, better luck tomorrow". So now it's A.O.N.
For The Last 3 Days I've Been Trying To Buy Shares. But I'm not getting filled. Tues. I was at the ask. Mon. & today I was above the ask. Order was placed for AON.
Welcome Aboard; This board is getting better all the time.
I Seriously Doubt If He Owns Any Shares.
jsc52033 Wow 12.5%. With 50% oil payment + taxes. Plus minnows like ERHE & the others getting a piece. There would have to be F-ing GOBS of oil to make it worthwhile for deep water drilling. It hasta be Chad & mostly Kenya that will get us over a dollar anytime soon.
Tryoty; I Believe The Elephant Has Been Mentioned Many Times. Just that the posts get deleted. As almost all of his posts are about ERHE, & 7 days a week including holidays. Money has to be involved. Either he trades the stock or he is paid to try and destroy us, that's anybody's guess.
S.A. I Think We're Both On The Same Page, But Question Still Stands. Is 50% for the Host Country normal?
Question That Has Been In The Back Of My Mind For Over 10 Years. The JDA gets 50% of any oil sucked up out of the JDZ. Is 50% a normal amount to give to the Countries owning the land? Plus I believe there is a monetary tax also. Just wondering if the JDA is too greedy and that may be what's causing problems or if this is normal cost of business.
From Kingpin
05/09/2013 - Final nail for JDZ as Total prepares to relinquish (Africa Oil and Gas) - 64 (aog v16-18 05september-text____0011)
The final nail is being prepared for the coffin of the Joint Development Zone (JDZ) between Nigeria and Sao Tome & Principe, with the partners in the only block left with any current potential preparing to hand it back.
Total has decided to relinquish Block 1 - the acreage that was once the most highly sought after, and saw Chevron pay US $120m in a signature bonus back in 2005 at a time when the region was widely viewed as highly prospective.
However, last year Total drilled the Obo-2 appraisal well and the Enitimi exploration well. Both encountered oil and gas pay, but at lower levels than pre-drill estimates.
The only other explorers in the JDZ were Addax and parent company Sinopec. A highly expensive five-well exploration programme back in 2009 proved very disappointing, with only around 1 Tcf of gas proven over three blocks.
D.G. We Used To Have A Poster/Blogger That Preached Good Things/News Happened To ERHE On 3 Day Weekends. He touted this as his secret discovery. We shall see.
Good Post By Arnim-v-b
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91319703
Tamtam P.M. You might want to save this as proof of what Courtpuppy is up to.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91197566
Wow Courtpuppy, The Last Thing I Was Expecting Was An Honest Answer.
Thanks For All The Rebuttals You're Forced To Do. Sometimes it's tiresome, but I'm glad that there are those that take on the job.
O.C.P.M. That's My Suspicion Also.
Courtpuppy You Seem To Have Changed Your Tune Quite A Bit. May I ask What Happened to change your mind?
Sounds Like ERHE Will Be An 11 Bagger By Dec. 6th.
Should be an exciting 3 to 4 months.
I 2nd That.
Renowned Multinational Integrated Oil & Gas Company (RMIOGC)
Can Someone Please Tell Me When The Stock Options Expire? (Has to be $.75 for 30 days.) Thanks.
I Don't Think He Was Kicked Off Last Time. He just took his marbles and went home. He left & stared posting on another board (last time).
Yes A Secret Board. And we hope to keep it a secret from the negative posters. So I think it's best not to post links to this board on the other one. If we invite friends over it should be by P.M. or e mail.
Glad to see more & more Good posters showing up here. Welcome aboard to all.
Here is some stuff from Upstream Online article dated yesterday:
(Posted By 2IRAS)
BRITISH Virgin Islands-registered Adamantine Energy has kicked off a 14,500-kilometre full tensor gravity (FTG) survey of Block-11B in Kenya’s deep interior abutting the South Sudan border with results expected next month.
Contractor Bell Geospace will sweep the acreage, which spans 14,200 square kilometres ranged across the Loeli, Lotikipi, Gatome and South Gatome basins, all on trend with the Lokichar basin further south, where Tullow Oil and Africa Oil have made significant discoveries. Adamantine chief executive Chris Matchette-Downes said his analysis of existing gravity, magnetics and seismic data indicate a similar morphology to Lokichar, together...with petroleum plays analogous with the Ngamia-1 and Twiga South finds, and anticipates a similar hydrocarbon charge. Adamantine last year farmed out 50% equity...funding. Meanwhile, Bell Geospace will follow Adamantine’s survey with a similar sweep for neighbouring operator ERHC Energy, a Nigerian-run Houston explorer that holds 100% of contiguous Block-11A — a cheaper, joint survey had been mooted but failed to gain traction. ERHC hopes to complete its own FTG
to AIM-listed Bowleven in return for $10 million worth of exploration funding including a yet-to-be-determined volume of 2D seismic. Bowleven has since farmed out a 30% stake in its new ventures subsidiary to private UK outfit First Oil. Bowleven and First Oil have agreed to co-operate in seeking early entry exploration opportunities across the East African Rift System with First Oil contributing $3.6 million towards Bowleven’s share of new investment
They're Finding Oil In Chad Also
(From another poster on another board)
Caracal Updates Chad Activities
Wednesday, July 17, 2013
Caracal Energy Inc. (formerly Griffiths Energy International) issued an update on its assets in Chad. According to the company its Badila production facilities were commissioned and an inauguration ceremony was held by Chadian president Idriss Deby in early-June. The interconnection (hot-tap) with the TOTCO-COTCO export line has been completed, and the transportation agreement is being finalized. The company anticipates approval to start producing at the Badila field this month.
The Badila-3 well was drilled to a total depth of 2,150 meters and cased as a Cretaceous C and D sands producer. Test results indicated that the well is capable of producing about 2,400 bpd and will be brought onstream once facilities are completed to handle the associated water.
A second drilling rig has arrived on location in southern Chad and is expected to spud the Badila-4 development well by the end of July. In addition the 320 sq km3D seismic survey covering the Badila field and the adjoining Bitanda Ridge exploration prospect was completed on schedule and on budget.
With the arrival of the second drilling rig, the company is now able to initiate exploration drilling. A Krim exploration well is expected to spud in August 2013 and a Bitanda exploration well in September 2013.
On the Mangara Field the Mangara-4 development well, spud on March 13, was drilled to a total depth of 2,471 meters. Petrophysical results show 40-60 meters of estimated oil pay in the lower Cretaceous C & D sands. The well was suspended due to hole instability, with plans to re-enter in the near future and complete as a producer.
Its Mangara-5 well was drilled and cased as a lower Cretaceous C & D sands producer. The well was also deepened to 3,339 meters to test the lower Cretaceous E sands, a new exploration horizon below the main Mangara field. Petrophysical results show a potential range of 150-230 meters of estimated net oil pay in the lower Cretaceous E sands. Testing of the E sands has commenced and the first 25 meter interval produced a maximum rate of 815 bpd of 39° API with no water.
At its Kibea development Caracal filed an exclusive exploitation authorization (EXA) application on April 25 and was deemed conditionally approved on May 25 pending submission of an EIA. The EIA is currently underway and potential pipeline routes are being surveyed. A 3D seismic survey over the Kibea field and nearby exploration prospects is scheduled to commence in Q4 2013 or Q1 2014. In addition an appraisal well on the Kibea field is scheduled to spud in Q4 to test deeper horizons and obtain core and fluid samples for development planning and facilities design.
Gary Guidry, CEO of the company said “In 2013 we successfully drilled and tested two development wells in the Badila field and we are currently testing a second well drilled in the Mangara field. The 3D seismic surveys at Badila and Mangara have provided encouraging information, suggesting further extensions of the fields, and validating nearby exploration potential.
“We are ready to commence production at Badila, and anticipate the final authorization this month. Our combined capacity from the first three Badila wells will provide production capacity to deliver at a combined 14,000 bopd to keep our phase one production facilities loaded and production volumes in line with management expectations. We expect the Mangara field to add further production by the end of the year.”
Looks Like You Got Your Wish ($.07)
Don't Feel Bad, Others Here Are In The Same Boat As You.
I think this board will lower your blood pressure by 20 points. Welcome Aboard
More on Tullow in Kenya
(Borrowed From Another Board/Poster)
The company saw the drilling of the Etuko prospect spud in May. This well was the first test of the Basin Flank Play in the South Lokichar Basin and results of drilling, wireline logs, and samples of reservoir fluid confirm a new oil discovery with net pay of over 40 meters in the Auwerwer and Upper Lokhone targets. The well has the potential for discovering even more oil as Tullow drills deeper into the Lower Lokhone sands. The results from this lower section are expected by the end of July. The next well in the Kenyan line-up is the Ekales-1 well in the Basin Bounding Fault Play on trend with Ngamia and Twiga-South. This well will commence drilling in late-July.
A 550 sq km 3D seismic survey over the area, which will support Tullow’s appraisal program, will commence in Q3.
Excerpt from:
http://www.petroleumafrica.com/
TRADING STATEMENT AND OPERATIONAL UPDATE
(Posted By Oldoil On Another Board)
New oil discovery at Etuko-1; Sabisa-1 sidetrack establishes oil prone system
Significant upgrade to Ngamia and Twiga-South oil resources
Government approval of TEN project; contract awards under way
3 July 2013 – Tullow Oil plc (Tullow) issues an Operational Update summarising key activities since the Interim Management Statement on 8 May 2013 and a Trading Statement in respect of its half yearly financials to 30 June 2013. This is in advance of the Group’s Half-Yearly Results, which are scheduled for release on Wednesday 31 July 2013. The information contained herein has not been audited and may be subject to further review.
COMMENTING TODAY, AIDAN HEAVEY, CHIEF EXECUTIVE SAID:
“Over the past two months, Tullow has made major progress in three key areas of its operations. In Kenya, we have significantly upgraded our resource estimates for the South Lokichar Basin following the highly successful flow testing of Ngamia and Twiga-South. Additionally in Kenya, Tullow has made a new discovery at Etuko-1. In Ghana, the Government has approved the plan of development for the TEN project, our second offshore project in the country. In Uganda, we have made substantial progress with our partners and the Government and expect to sign a Memorandum of Understanding which will outline the key principles for the development of the Lake Albert Basin development. We also continue to have an industry-leading exploration and appraisal programme with results from key frontier wells in Kenya, Ethiopia, French Guiana, Norway and Mauritania all expected in the second half of the year. With high-quality production continuing to underpin our financial position, we are well placed for the remainder of this year and into 2014.”
I Have My Signs Also. Whatever happened to Walldog?
Thanks For The Good Info
WOW! $226.50 Traded Today! Somebody must have bought some shares for his caddy.
And The Plot Thickens....
From 2IRAs
"dkpr got back to me and I said I'd report if he did.
"I hope you understand that the Company has various reasons -- including strategic reasons -- for choosing to disclose or not to disclose certain information about its letter of intent"
So, that makes sense. Of course they would have told us more if they had felt it was the right thing to do."
Oldoil; Yes. EOM
The Last P.M. I Received Did Not Contain Any E Mail Address.
Again Someone Should Invite (P.M.) Oldoil Over To Our Board.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88280116
Tamtam: Would you P.M. exceo & invite him over to our website. Sounds like he's ready to leave the Dark Side.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88203127
Excerpts from a report of another Kenya block holder.
Kenya
This area is attracting a lot of capital right now. The industry is willing to pay Big Money to play here: Marathon Oil (MRO-NYSE) paid roughly $50 million to joint venture into Block 9.
Kenya block 9
Africa Oil and Marathon Oil plan to drill the Bahasi-1 (Q3 2013) and possibly the Sala-1 prospect, with Tertiary and Cretaceous targets. These are large prospects with most likely gross oil prospective resources of 320 and 402 mmbbls respectively.
Values of Holdings in Kenya.
Judging by the prices paid by third parties on other deals, the market is willing to pay a premium to acquire resources in Kenyan and other parts of East Africa. So even at this very early stage of exploration, the market is willing to pay an average of roughly $1.00 per prospective barrel.
Being able to place much of this prospective resource into a more confident “contingent” resource, based on the drilling of the company and its neighbours, along with enhanced seismic operations have produced values in the region of about $4.50 per barrel. This is 2D seismic.
Letters of Intent (“LOI”) , also known as Memoranda of Understanding and Memoranda of Agreement, are a device used to signal parties’ agreement to the basic structure of serious negotiations to close a deal. An LOI typically comes into play after a round of initial discussions and after the signing of a Confidentiality Agreement and a second round of more serious discussions about the proposed transaction.
Business Functions of a Letter of Intent
A Letter of Intent serves several business functions:
Commitment to Each Other and to the Deal: Signing a letter of intent, from a business perspective, indicates that each party has obtained senior management’s approval to work towards closing the proposed business transaction and that the parties have moved into a stage of serious negotiations.
Commitment to the Deal for Others to See: After signing a letter of intent, the parties usually issue a joint press release announcing the event. This is usually to provoke a positive reaction in the stock market to the news and some times to send a message to competitors in the marketplace.
Commitment to a Time Line: An LOI will set forth a time line for negotiations, including a deadline for closing the deal and what will occur if the parties fail to meet the deadline.
Partial Performance and Authorization of Expenditures: After signing a letter of intent, parties will often begin due diligence for the transaction and/or preparation of a formal estimate regarding the transaction. Research and preparation of such documents involves expenditure of significant funds for the time and materials of employees designated to perform these tasks. Senior management will usually authorize spending such funds based on signing the letter of intent, although rarely will the LOI specify that there is any way to recoup these funds if the deal does not close.
Confidentiality: If not already agreed to in a Confidentiality Agreement, each party will agree to keep the transaction and information exchanged in negotiations confidential in an LOI.
http://www.avvo.com/legal-guides/ugc/letters-of-intent--why-business-people-love-them-and-lawyers-hate-them