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"Resulting disputes and delays prompted the withdrawal by US companies Devon, Noble Energy and Pioneer from their respective blocks."
I thought they "did not follow the rules"?
Can anybody tell what exactly was going on back then?
TIA.
Well, Jeff Schrull said about our block that it wouldn't be very likely elephant fields, according to the seismic.
So I assume that from "no commercial oil" to an elephant is a big leap for mankind.
But then again, they drilled almost off structure?
Did big oil say anything official at all in regard to the seismic in block 1, other than the "leaks"?
Very cool. Thanks. Pretty convincing statements.
Rex still doesn't seem to be very happy in that picture.
Does he feel he missed out on something? Ach, maybe he was looking at. . .
Walldog,
That means your the only one that saw this video.
So, you must be in on the JFK assassination also.
This kind of behaviour of Big Oil would only be explainable if a whole herd of elephants was lying beneath them. And that is not the case it seems.
But it's strange indeed. . . and a nice read.
I guess we'll never know for sure, unless those elephants start blowing their horns.
why do I only get Britney's comeback and a bunch of other items?
I clicked on the "Major Africa oil find", but no cvx.
Man, you should have taped that! Then you have proof for your kids that it was a wise investment indeed. . .
Can a company be punished for saying there is no commercial oil, when afterwards it is proven there is 100M barrels of oil at drillpoint? Or is it a question of "interpretation"?
I mean, 100M must be commercial, right?
Playing games is ok I guess in this business, but flat out lying?
No.
Are they still available online?
I searched but did not find anything.
Would be great to see them talking about that.
Remains the question if some people said something they shouldn't have said, or that it was an unsubstantiated remark, at the time (or even at present time).
That seems to be the question regarding block 1.
AMJ23, can you elaborate a bit regarding your statement from yesterday that Big Oil wasn't willing to play by the rules when the blocks were for the taking?
I never did get that, although you called it old news. I wasn't in the stock back then and never found anything on that.
tia.
There is something that I still don't get,
and that is why Big Oil withdrew from these block. The article mentioned that they did not want to be "involved" with ERHC.
But since when do they care? I thought it was all about money for Big Oil?
Does anybody have an ideas on the real reason for their departure? I mean, they withdrew themselves, didn't they?
tia.
Actually it was 8,3687% so that makes 8,37%
I wonder how they can put a number so accurately on this probability, must be a couple of statistics professors working on that.
18 prospects, 8.36% divided by 18 is 0,46% per block chance of hitting oil?
How does that work?
"Recent rapports".
Do you have any links?
TIA.
Regarding the "Jefferson File". the NY article mentiones:
"The attorney general’s report may have precipitated last summer’s raid on ERHC’s Houston offices by the F.B.I. Among other things, F.B.I. agents took a file marked “William Jefferson,” a reference to the Louisiana congressman, a publicly filed subpoena shows."
If Art is right, then it sure is a suggestive (!) statement released by the F.B.I.
Art says:
"a. Jefferson may have had a minor lobbying function in Washington, not Africa, for the old ERHC in the pre-Offor days.
It would have been to ask the US government for its influence in protecting the rights of ERHC in Sao Tome.
This would in no way be part of an FCPA probe.
b. Jefferson did continue to have a relationship with Noreen Wilson who was a top ERHC official and stock holder for the original ERHC (pre-Offor).
c. Jefferson could have corresponded with ERHC or Offor about other Afrcan businesses not related to ERHC'."
Cool.
The moment EO notices that he is not seen as "an enhancement to the company's assets", he will do whatever is necessary to give maximum value to his own shares.
I would think.
"Waters around Sao Tome are rumoured to be a second Kuwait."
Never heard that before. Any examples, links maybe?
" I would be shocked if there were files that stated who and when ERHC bribed someone, assuming that bribery occurred."
Not suggesting, just asking: what were those documents with the name "Jefferson" doing at the office?
By bringing that in the news the DOJ at least was suggesting things, but the name was found. . .
Any thoughts to that?
Fishdog,
Do you still have that report in an excited fashion?
I want to reread it again.
TIA.
79% chance of striking oil, isn't that probable oil?
IMO question is,
has there been a rise in shareprice due to seismic surveys with other companies in the past, big or small (rise/company)?
Maybe that's a way to "determine" if real insiders know more about oil truly being present in commercial quantities at this point already. Because it is indeed a bit (just a bit, because most investors go safe)strange that the sp is at it's current level.
One could also say there are plenty of risky investors out there, and only a "good chance" of striking oil could have tripled the sp.
BB quote:
Oilphant makes some bold predictions while others simply ridicule his predictions. At least he's willing to go out on that limb unlike others who simply talk about other posters.
What do you mean out on that limb? Are you refering to his 3 letter posts? Just for the record. . .
Does Joe make sense?
"But ERHC Energy's day will inevitablty come, because it is fundamentally innocent of anything but being Nigerian, which by itself is apparently a federal crime these days. That's why those long-term investors who are not in and out daily seeking small gains are likely to prosper mightily by the time it all winds to an end. Our company will not give up its rights or sell them off short of a massive offer, and Chevron and ExxonMobil will lose out when one of the world's richest oil deposits is ultimately located in Blocks 2 and 4."
At the bottom he says:
"Disclosure: I own no shares of ERHE or VION, and a trustee controls the 1,500-odd shares of Chevron held by our family trust."
why doesn't he hold ERHE shares? Is he trying to feign and come accross as non partial? Duh, he runs an ERHE blog. . .
Now that I consider a fact. ;)
I have not heard about a concrete possibility that EO can only profit himself and not the other few shareholders.
Derbernet,
I still don't get why two companies left the stage earlier on in the game. Do you?
They did not crow at all. Has there been more solid information on the oil prospects since they left?
tamtam, is dat jouw tuin?
zoja, leuk tuintje, welke provincie is dat?
as long as the oil stays beneath the bottom of the ocean, that cup of fuel can do no harm. Otherwhise all our barrels would go up in flames.
Are you talking about the Igaming sector?
Nothing.
As usual.
The oilphant has delivered.
Once again.
Any specific time in mind, oilphanty?
Mhwaa.
Riddle:
The Elephant is bringing an offor to this board.
Can't afford?
You mean, they peed next to the pottie and are about to start a stampede? Going into a rant?
I smell fish.
cheers ya, fruitcakes.
:p
It sounds like common sense indeed.
Good point,
but they already drilled there, and that's not the case in our blocks. Let's hope that's the reason. Remember, on block 1 there is also more info.
Thank you Electick, thank you.
It turns out them pictures you received are not what most here thought they would be, see walldog's post.
So it looks like my last grain of intelligence was right in wanting some more background information on these pics.
I doubt that even you knew how to interpret these picasso's.
Next time you should ask your source what it is your seeing. LOL.
Umbra, that's 6.66 Billion Barrels per block on average.
Three sixes in a row, is this the message your trying to give us?
Lol.
So I can conclude the pictures were 'leaked'?
I assume they are meant for use in some kind of presentation at a later date/moment.
I thought they were already part of an pdf presentation, but somebody else here stated that they not yet have been published by one of the involving companies. So that is correct I assume.
Indeed it seems that there is not a lot of downward pressure for the sp filling in low numbers in the xls.
One is tend to say: where is the catch?
Unproven $3,- for three blocks estimate oil, each 200M gives us our current shareprice of .42. (or oilprice $30,-)
Again, where is the catch?????????
(:-
I think Reuters means to say it's a bargain.
If you joined the party before the institutions arrived, all drinks are free.
On the other hand. . . hopefully they will show up. Just to watch them colors on those maps.
Umbra, is that feeling of yours based on some facts/circumstances or just a hunch, or maybe based on just a bit of 'wishful thinking'?
And althought your calculations are based on a hypothesis, it does not matter. Just show a calcualtion if you have one.
Do you have a quote/link to these aditorial comments?
Is this from a pdf doc?