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By rapacious nothing... Mr. Mark conhece... but I need confeirmacao.. boa for us if is true!
Incredible Day - Great Action !!
Stocks2Rise I just UpGraded to the Sofa -lol
Check your OIL - $71+ / bbl
Red - if we are sitting in Section 404 in the Upper Decks
Q: when do the penny stock / flippers / traders / momentum traders / oil speculators / and basically everyone else join us
do they wait till the RIG is anchored ??
Tell the folks how it works in Penny Oil Stocks
And are those a Herd of Elephants in the parking lot ?
thanks to TheElephantFields...
You are a Great American
he is well aware - to include the partners Tickers means their legal team has to sign off on the PR as well
our coverge is coming
all will be coming on more significant PR's
thanks Dan - Great News !!
Addax - HEARD ON THE STREET: Majors Sitting Out Energy Deals
HEARD ON THE STREET: Majors Sitting Out Energy Deals
Last Update: 6/9/2009 2:57:26 PM
By Liam Denning
A DOW JONES COLUMN
Amid rising energy prices, the sector's dormant mergers and acquisition market is
waking up. About $10 billion worth of announced and rumored transactions have
surfaced this week.
It's life, but not as we know it.
Two situations involve Iraq. London-listed Heritage Oil (HOIL.LN) is merging with
Turkey's Genel Energi AS to form the largest exploration and production company
focused on the Kurdish region of Iraq.
Heritage is paying roughly $2.6 billion in stock, which has trebled in value
since the start of the year. In return, it gets cash flow from Genel's producing
fields and, with a pro forma market capitalization of more than $5 billion,
according to RBC Capital Markets, also a shot at joining the FTSE 100 index.
Meanwhile, several Chinese and South Korean state-linked companies are said to be
sniffing around Canada's Addax Petroleum (ADXTF), worth C$6.7 billion and active
in Iraq's Kurdish region and West Africa. The Chinese, in particular, want direct
access to energy sources and enjoy support from a wealthy government.
The international oil majors are conspicuous by their absence. They have good
reason to avoid Kurdistan, however. Foreign companies entering into deals there
risk being blacklisted by Baghdad for bigger potential transactions elsewhere in
the country.
The majors are also absent from a couple of recent deals in the U.S.
unconventional natural gas sector, the latest being Kohlberg Kravis Roberts &
Co.'s $350 million investment in privately-held East Resources Inc.
For the majors, such deals are too small to move the needle. Meanwhile, the
recent run-up in commodities prices has taken financial pressure off some of the
larger prey they might target. If anything, a little cooling off in energy
markets might help kick off more deals.
(Liam Denning joined The Wall Street Journal from the Financial Times, where he
wrote for the Lex column. Previously, he was an investment banker at Goldman
Sachs. He can be reached at 212-416-3618 or by email at liam.denning@wsj.com)
(TALK BACK: We invite readers to send us comments on this or other financial news
topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include
their full names, work or home addresses and telephone numbers for verification
purposes. We reserve the right to edit and publish your comments along with your
name; we reserve the right not to publish reader comments.)
(END) Dow Jones Newswires
June 09, 2009 14:57 ET (18:57 GMT)
The Toronto Globe and Mail Newspaper ...
http://www.theglobeandmail.com/globe-investor/addax-shares-jump-on-news-of-talks/article1173454/
The Canadian Press, Monday, Jun. 08, 2009 04:20PM EDT
Addax Petroleum Corp.'s (AXC-T39.753.7510.42%) shares rose more than 10 per cent Monday after acknowledging rumours of talks with a potential buyer.
Shares of Addax Petroleum were up $3.69, or 10.25 per cent, at $39.69 during noon trading on the TSX.
Earlier, the Calgary-based company, with a focus in West Africa and the Middle East, said it “held preliminary discussions with third parties expressing an interest in a potential transaction with the corporation.”
It added: “While such preliminary discussions are ongoing, no assurance can be given that a transaction will be completed.”
Addax responded after South China Morning Post, an English language newspaper, reported China Petroleum and Chemical Corp. is working on a bid to acquire the company for $8 billion.
The newspaper also reported that China National Petroleum Corp. and China National Offshore Oil Corp. are also interested in the deal.
--------------------------------
If Addax Petroleum is really to be acquired by CNOOC or CNPC, then it shows how shortsighted Canadian and particularly British investors are when it comes to Oil & Gas companies. Addax has a formidable collection of assets in very low cost jurisdictions. It follows a series of similar deals in which Canadian O&G companies with significant foreign assets are sold to the Chinese, or the assets are transfered to separate entities listed solely on the Hong Kong Stock Exchange. The trouble is, without the likes of PetroKazakhstan, Addax, First Calgary, and a soon Heritage and others, Canadian O & G companies will have no significant foreign assets in Oil & Gas. All they will get is black sand that they have to invest 10 times as much money into for each dollar of profit. Stupid right?
Addax in take-over talks
By Upstream staff
West Africa and Middle-east focused Addax Petroleum confirmed today that it is in talks with third parties regarding a possible acquisition, following media speculation.
“Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the Corporation,” said Addax in a statement.
“While such preliminary discussions are ongoing, no assurance can be given that a transaction will be complete,” said the company, adding that it did not intend to make any further comment at this stage.
--------------------------------------------------------------------------------
Monday, 08 June, 2009, 13:43 GMT | last updated: Monday, 08 June, 2009, 13:44 GMT
Dow Jones Just Corrected to Read $8 Billion
CORRECT: Takeover Speculation Drives Addax Petroleum Shares Up >AXC.T
Last Update: 6/8/2009 3:46:07 PM
("Takeover Speculation Drives Addax Petroleum Shares Up" published at 12:22 p.m.
EDT incorrectly stated in the second paragraph that Sinopec is reportedly working
on an US$8 million bid for Addax Petroleum. The bid is reported to be worth US$8
billion. The correct version follows.)
By Jennifer Walter
Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--Speculation about a possible takeover of oil company Addax
Petroleum Corp. (AXC.T) is driving its share price higher.
Addax is up 9.4% after a story in the South China Morning Post reported that
China Petroleum & Chemical Corp. (SNP), known as Sinopec, is working on an US$8
billion bid for Addax, which is an oil and gas exploration company operating in
the Middle East and West Africa.
Addax said in a press release that it has been in discussions with third parties,
but it didn't elaborate. It also said it won't comment further unless a
transaction is finalized.
Raymond James analyst Rafi Khouri told Dow Jones that he thought Addax would be a
good fit for the Chinese company. Khouri said the Chinese are trying to expand
their access to oil and gas, and have shown some interest in West Africa.
"My personal view is that I would not be surprised if Addax were to be acquired
at some time in the next 12-24 months," Khouri said. "Whether or not that will
happen now, or if there's any truth to the speculation, is hard to say."
Khouri doesn't own Addax shares and he said Raymond James doesn't have an
investment-banking relationship with Addax.
Addax officials weren't immediately available for comment.
In Toronto Tuesday, the stock is up C$3.40 to C$39.40 on 2.3 million shares.
-Jennifer Walter, Dow Jones Newswires, 416-306-2028 jennifer.walter@dowjones.com
(END) Dow Jones Newswires
June 08, 2009 15:46 ET (19:46 GMT)
Takeover Speculation Drive Addax Petroleum Shares Up >AXC.T
Last Update: 6/8/2009 12:22:26 PM
By Jennifer Walter
Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--Speculation about a possible takeover of oil company Addax
Petroleum Corp. (AXC.T) is driving its share price higher.
Addax is up 9.4% after a story in the South China Morning Post reported that
China Petroleum & Chemical Corp. (SNP), known as Sinopec, is working on a US$8
million bid for Addax, which is an oil and gas exploration company operating in
the Middle East and West Africa.
Addax said in a press release that it has been in discussions with
third parties,
but it didn't elaborate. It also said it won't comment further unless a
transaction is finalized.
Raymond James analyst Rafi Khouri told Dow Jones that he thought Addax
would be a
good fit for the Chinese company. Khouri said the Chinese are trying to expand
their access to oil and gas, and have shown some interest in West Africa.
"My personal view is that I would not be surprised if Addax were to be acquired
at some time in the next 12-24 months," Khouri said. "Whether or not that will
happen now, or if there's any truth to the speculation, is hard to say."
Khouri doesn't own Addax shares and he said Raymond James doesn't have an
investment-banking relationship with Addax.
Addax officials weren't immediately available for comment.
In Toronto Tuesday, the stock is up C$3.40 to C$39.40 on 2.3 million shares.
-Jennifer Walter, Dow Jones Newswires, 416-306-2028 jennifer.walter@dowjones.com
Addax Petroleum Corp. (AXC, C$36.00, C$0.27, 0.8%) said it has held preliminary
talks with third parties with respect to a possible acquisition or merger.
Addax Pete: Preliminary Talks Ongoing >AXC.T
Last Update: 6/8/2009 9:06:39 AM
(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)
Addax Petroleum responds to press speculation
Monday June 8, 9:04 am ET
CALGARY, June 8 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) has been made aware of press speculation involving the Corporation and the interest in it by third parties with respect to a possible acquisition or business combination.
In response to that press speculation, Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the Corporation.
While such preliminary discussions are ongoing, no assurance can be given that a transaction will be completed.
Addax Petroleum does not intend to make further comment unless or until there is a transaction to announce.
Sharing of INFO between operators must be KEY
Especially when some Prospects overlap other Blocks
Especially as DeepWater costs are enormous
Having our Technical Partners get stronger in the zone can only benefit us
regardless if our block percentages increase
Midieroli Anadaroko has NEVER cared about BL 3 or the JDZ After we blew them out of JDZ BL 4 Operatorship winning the block with a MUCH lower Sig. Bonus - HaHa
With ERHC's 10% + free carry our best friend Addax will take better care of us and Drill faster - probably this year IMO where Anadarko may have dragged their feet for much longer
its True Diversity is always good but Addax and Sinopec together are stronger than Anadarko
Anadarko is dead weight in the JDZ
Bye Bye
Sinopec Finance To Sell CNY6 Bln Bonds Jun 5-8
Last Update: 6/1/2009 5:12:57 AM
SHANGHAI (Dow Jones)--Sinopec Finance Co., a unit of China Petroleum & Chemical
Corp. (SNP), said Monday it plans to sell CNY6 billion ($878.3 million) worth of
bonds on the interbank market between June 5 and June 8.
The company said in a statement it plans to sell CNY3 billion worth of three-year
bonds and the same amount of five-year bonds.
The coupons will be decided after bookbuilding Friday, Sinopec Finance said.
Industrial & Commercial Bank of China Ltd. and Bank of Communications Co. are the
main underwriters of the deal, it said.
-Wang Ming contributed to this story; Dow Jones Newswires; (86-21) 6120-1200;
ming.wang@dowjones.com
(END) Dow Jones Newswires
June 01, 2009 05:12 ET (09:12 GMT)
I Do Too - everyone cares when their investment may potentially have massive moves and additional big gains
and for those that say otherwise ...
I wish I had their Money - cause I'd burn mine
Spec he speaks to the PR guy from the JDA
So explain ...
the JDA Cheif stating BL 2 is earlier
JDA telling Mark BL 2 is earlier - PR guy
Barry Morgan reporting Sedco - he always gets 2 sources to confirm - BL 2 is earlier - could be PR Guy + 1
Even Addax stated as a major point of reference in their PR that drilling will be earlier than anticipated in 2nd Half
Is Sedco 702 not happening? Are the JDA making this up?
All sources suggest earlier drilling
We know the JDA is overly optimistic and often wrong - but they went out of their way with specific details of newer drilling info.
Your source still sticks to the older time frame?
Addax speaks several times this month - including Tues. AM at 9:40 AM EST in NYC - see this link -
http://www.wsw.com/webcast/rbc102/panel8
either way - we will know more soon
Spec didn't your source doubt the DP announcement
I am somewhat bothered by the continued claim that Chevron Drilled BL 1 Wrong
[or was as Throw-A-Way Well] / [drilled off structure]
or whatever
[I think Pup stated this]
Q: Wasn't Jeff Schrull head of Africa Drilling then for CVX?
So
Who would be to blame for the mis judgement or was it intentional
So what really happened?
We know JS left CVX to head up Addax Drill program Because of the JDZ
We also know JS is salivating to drill the JDZ
We also saw ADDAX take 40% back from Exxon in BL 1
We also know now Addax/Chevron/Sinopec are in a series of live tenders for additional drill rigs for BL 1-4
Where is the disconnect? Why the Tight Well?
Is this the biggest Oil Structure in W.Africa?
Art True - also Addax has potentially the Best Gov't Relations with Nigeria - PERIOD
We got BL 2 and Bl 4 for a song
This was the perfect partner for us
as it turned out Addax got OPL291 and all the new Gas properties worth Billions
They have treated Nigeria well, and made good on their promises, are a large advocate for local charity and local development
and in return have been treated well
Oil was up 30% this month
best run in a Decade
Homeport - it's July - 2 more Fortnights
Mark gets all the Credit, especially this one ..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37591975
[posted May 6th]
and these ....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37852266
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38117503
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38054299
**UPSTREAM** ERHC **Drilling July**
Gulf of Guinea bid to begin
Oil exploration will begin this July in the joint development zone managed by Nigeria and Sao Tome&Principe in the Gulf of Guinea, with a new licensing round held possibly as early as 2011, writes Barry Morgan.
The Abuja-based joint development authority's director, Jorge Santos, said the next round would follow fresh 2D and 3D seismic studies for which tenders are ?already under discussion.
Licences available for auction include blocks 7, 8, 9 and 10.
Santos said it would take months to complete the new seismic surveys and that the remaining blocks would be smaller than those licensed in 2004, with areas ranging from 750 to 1000 square kilometres.
Santos told local media that Chevron's apparently disappointing probe on Block 1 of the joint development zone in 2006 may have been drilled in the wrong place.
"Chevron might well be waiting for the results of Sinopec's upcoming wildcat on the Bomu prospect on Block 2 before deciding future strategy," he said.
Santos admitted to Anadarko's "passive stance" when pressured to bring forward its drilling programme, attributing this to the explorer's major interests in the Gulf of Mexico.
After Sinopec's drillship Sedco 702 spuds Bomu 1 in the first week of July, Addax will deploy the drillship Deepwater Pathfinder from the second week of July to spud Kina 1, according to a joint development authority source.
--------------------------------------------------------------------------------
Thursday, 28 May, 2009, 23:01 GMT | last updated: Thursday, 28 May, 2009, 23:01 GMT
***UPSTREAM*** ERHC *** **Game On-JULY**
Gulf of Guinea bid to begin
Oil exploration will begin this July in the joint development zone managed by Nigeria and Sao Tome&Principe in the Gulf of Guinea, with a new licensing round held possibly as early as 2011, writes Barry Morgan.
The Abuja-based joint development authority's director, Jorge Santos, said the next round would follow fresh 2D and 3D seismic studies for which tenders are ?already under discussion.
Licences available for auction include blocks 7, 8, 9 and 10.
Santos said it would take months to complete the new seismic surveys and that the remaining blocks would be smaller than those licensed in 2004, with areas ranging from 750 to 1000 square kilometres.
Santos told local media that Chevron's apparently disappointing probe on Block 1 of the joint development zone in 2006 may have been drilled in the wrong place.
"Chevron might well be waiting for the results of Sinopec's upcoming wildcat on the Bomu prospect on Block 2 before deciding future strategy," he said.
Santos admitted to Anadarko's "passive stance" when pressured to bring forward its drilling programme, attributing this to the explorer's major interests in the Gulf of Mexico.
After Sinopec's drillship Sedco 702 spuds Bomu 1 in the first week of July, Addax will deploy the drillship Deepwater Pathfinder from the second week of July to spud Kina 1, according to a joint development authority source.
--------------------------------------------------------------------------------
Thursday, 28 May, 2009, 23:01 GMT | last updated: Thursday, 28 May, 2009, 23:01 GMT
Oil is Flying up $64.87
ERHE is up 3500% from the 8 yr 2001 low of .01
Oil flying up with C Confidence $62.50
*Mark* Happy Birthday Brother - Enjoy the Day - your BD present is being shipped from W.Africa - it's Black - Round - Sweet - Golden and there may be Billions of 'Em
on the last Addax CC - they stated there are currently ACTIVE TENDERS for additional Rigs led by the Contortium Addax/Sinopec and Chevron
no worries .....
exactly - you can add Pioneer and Noble too
SouthernMan, they I'm sure are still pissed at us for grabbing BL 4 and we got it for $56 Million ? [Sig. Bonus] when they they bid $71 Million
They are still scratching their heads how SEO pulled it off
Someone called in a huge favor for us
We will never know
So we sit in the CatBird Seat while they look from the GrandStands
Oil Video from Nigeria ...CNBC
http://www.cnbc.com/id/15840232?video=1129882307&play=1
Nigeria Sells more oil to China and USA than Middle East
China is Betting Big in Nigeria
Gulf of Guinea Insurance RIG / Shipping Insurance Rates are Skyrocketing
Petrobras' involvement with China's Sinopec (SNP), Asia's largest refiner, is not
outside the normalcy for Petrobras. "We have already several joint ventures in
Brazil and outside Brazil," he said. The possibilities with Sinopec are outside
the Chinese loan, Gabrielli added.
Brazil Petrobras CEO: China Loan To Be Paid In Cash
Last Update: 5/21/2009 3:34:40 PM
NEW YORK (Dow Jones)--Brazil's Petroleo Brasileiro SA (PBR), or Petrobras, will
pay China's recently announced $10 billion loan in cash, not in pre-sales of oil,
the state-controlled oil company's chief executive officer said Thursday.
CEO Jose Sergio Gabrielli shied away from talking specifics about the loan, but
said the loan's interest rate is below comparable secondary-market loans.
The Chinese are considering a new credit line in renminbi but Gabrielli said he
couldn't comment on that. He also didn't deny that Petrobras is in talks with
other countries for new loans, saying the company is always in talks with
different entities but he would comment no further.
Gabrielli spoke moments before ringing the closing bell at the New York Stock
Exchange. He said he was pleased that the company had been able to raise $13
billion in five months amid the ongoing credit crisis.
"It is a very good year for Petrobras," he said.
Nevertheless, Petrobras is always on the lookout for attractive credit
opportunities, Gabrielli said. The company is fully funded this year and the
next, but it would take the right opportunity, he added.
Petrobras' involvement with China's Sinopec (SNP), Asia's largest refiner, is not
outside the normalcy for Petrobras. "We have already several joint ventures in
Brazil and outside Brazil," he said. The possibilities with Sinopec are outside
the Chinese loan, Gabrielli added.
-By Claudia Assis, Dow Jones Newswires; claudia.assis@dowjones.com; 201 938-4385
(END) Dow Jones Newswires
May 21, 2009 15:34 ET (19:34 GMT)
Petrobras CEO: Sinopec Deal Would Be Just Like 'Any Other JV'
Petrobras: China Deal Won't Change Other Partners' Relations
Last Update: 5/21/2009 2:51:04 PM
(MORE TO FOLLOW) Dow Jones Newswires
May 21, 2009 14:51 ET (18:51 GMT)
Homeport U R Awesome !! Thx Ruby
Addax Seeks 2nd Partner For Iraq Taq Taq Oil Field - Source
Last Update: 5/20/2009 10:59:02 AM
By James Herron
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Canadian oil and gas company Addax Petroleum Corp. (AXC.T) is
seeking a second partner to join its development of the large Taq Taq oil field
in Iraqi Kurdistan, a person familiar with the matter told Dow Jones Newswires.
Addax wants to retain control of the development and keep existing Turkish
partner Genel Enerji AS, but thinks bringing in a second partner with stronger
ties to the government in Baghdad would overcome political sensitivities, the
person said.
Oil contracts signed by the Kurdish regional government with companies such as
Addax, DNO International ASA (DNO.OS) or Heritage Oil PLC (HOIL.LN) have provoked
fierce criticism from the Iraqi central government in Baghdad.
The process of finding a partner is at a very early stage and Addax has not
decided how much of its 45% stake in the field it could offer nor selected any
potential candidates, the person said. Addax declined to comment.
After two years of refusing to permit exports, the federal government said
earlier this month that for the first time it would allow the Kurdish region to
start transporting crude from new fields from June 1.
But political uncertainty remains. Shortly after approving exports, Iraq's oil
minister Hussein al-Shahristani said contracts between the Kurdish government and
around 25 foreign oil companies remain illegal because Baghdad was not consulted
before they were signed.
A large number of foreign oil companies, including most of the major
international players, have been pre-approved by the Baghdad government to bid
for oil licenses in southern provinces. Companies that have signed agreements
with the Kurdish government have been largely excluded from this process.
Existing facilities at the Taq Taq field provide for production capacity of up to
40,000 barrels a day and Addax is in the process of expanding the facilities to
70,000 barrels a day capacity. Following initial exports by truck, a pipeline is
expected to be constructed to allow full field development.
Iraq currently exports around 400,000 barrels a day from its northern Kirkuk oil
fields in the Kurdish region.
Company Web site: www.addaxpetroleum.com
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com
(END) Dow Jones Newswires
May 20, 2009 10:59 ET (14:59 GMT)
Next Friday look for Upstream to Report this !!!
Barry Morgan Confirms this to me as True
Thanks again Mark - perhaps Upstream may have yet another surprise for us
Mark Outstanding !!!