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my thoughts exactly Mark! They all seem to band together and hit all at the same time when something is afoot.
Ah come on Umbra. I thought you would be giddy dreaming about all those diamonds and gold! LOL
I got it! I think they have found a way to make Biogenic gas highly marketable since that is supposedly all we have in the blocks! That requires some special studies that will take another 6 months....... By the way how did it take over a year to analyse just Biogenic Gas? Are they so stupid they don't know what it looks like on the logs? Maybe they had to contract the studies out to .........TOTAL! I better stop now cause I am starting to think like Krom. LOL
If they got into a diamond pipe they could pay for the drilling cost with just the diamonds they got on poking the hole! LOL Diamonds are usually found in a volcanic pipe so they may have hit the motherlode! LOL Would love to see the look on the drillers face when the see diamonds spewing out of the drilling mud! LOL. Just dreaming.
since the area is highly volcanic it could be that they found diamonds! LOL
If there is a deal being worked on then the CIA and FBI need to take notes on how to keep a secret from this company!
You are correct! My bad. Same thing applies to Blair.
Oh no! Six more months of waiting! Hate to see the stock price open today.
Then what possible scenario did the ERHE brain trust sell to him to make him want to join the BOD? If he had no prior knowledge of the drilling results they must have been world class salesmen to get him to agree to join a three person company with no income and only some promising properties. I think their is way more here than meets the eye. Remember Ledbetter was highly prized as well with his credential. I still wonder why they let him go and kept Hovel Bovel.
I think the small players were in place as indiginous oil companies to satisfy the treaty requirements. Nothing more. It was a foregone conclusion they would bail before they had to put out any money. It is rediculous that they have to be included in the PSC's but that is how they make sure the country's involved will have local content represented in the first phase so they can know what is found and not rely on the information that is given to them from the operators. I think it very wise that ERHE did their own NSAI report so that they could know if the chinese have been blowing firecrackers up their wazooo!
How do you explain Dan Gralla's arrival on the BOD if we have nothing to look forward to? Do you think he would put his good name on a company that is iffy? Not me. I think he is playing gamesmanship. He is here for a reason.
Now we agree on something! LOL.
Curious, how is it that they found Biogenic gas in Ultra deep water? It is supposedly only found in shallow water. Also wouldn't it stand to reason that if they actually did find Biogenic gas (which is suspect is a lie) it would only be in the very upper sands and not the deeper sands? If so what was found in the deeper sands? They will not say that which leads me to believe there is an agenda being played in that the area is an extension of Akpo and quite possibly a world class field of Gahwar proportions as has been mentioned in the past.
yes, they did say Biogenic gas was found. But, they only mentioned it was found in 2-3 of the sands they tested out of 10-13 sands! What was found in the other sands? Why do they not mention that? If nothing was found in the other sands why did they not say they only found Biogenic Gas in all sands tested? The black hole continues.
I fully agree.
the way they announced the finding of Biogenic gas keeps them from getting prosecuted. They did not say they only found Biogenic gas in all wells. They only said they found some in a few of the zones in some wells. They did not say what they found in the other zones. They refused to say whether or not they found oil or Thermogenic gas. They did mention Hydrocarbons found but they would not elaborate. That is why the smoke screen is so thick. There has to be a reason the info is stuck in a black hole. If there was nothing to evaluate then why is it taking so long? If they only found Biogenic gas then we would not be discussing the extension. They would have pulled out and we would have all scrambled to get out with the least amount of loss. I think there is a big field there like Akpo and I think the delay is due to them working on a consortium company. They are probably trying to divy up the small dropouts and getting the ducks in a row to develop the whole region either along side Akpo or separately.
I think the valuation they posted is for OBO1 only. That is where they mentioned 150 ft of net pay. There are several other prospects in block 1. IMHO of course.
Perfect. Good Luck.
wa la. The poison pill effect. Anybody know how to get Offors email address? Would be nice to ask him his intentions.
what did we open at?
now that is the million dollar question. Even if they give a 100% premium we are still screwed!. I can't imagine them paying a 1000% premium unless they announce a major find to justify the cost. But I will still hold out hope for the $14 tryoty touts! LOL
Has anyone ask Prazares about the info on Sinopec site about commercialibility? I know someone here has that ability.
They are about as transparent as a black hole!
Krom, you are giving me a headache! LOL. I thought I had managed to bury Probability Theories after I left college never to worry about them again. Yet here you are throwing them our faces! You know Prozac might help you if your let it. Just don't take it with all that alcohol you apparently drink 24/7. LOL
ask him if they have gotten the drilling results yet from Sinopec!
I thought the Saudi's were going to do this?
where else do they have deep water properties? Offshore China?
Also, the EEZ properties are on the other side of the islands and are in a different proxmity to the JDZ. There are some existing properties to the east of the blocks though. That is where the companies will be looking for simularities. We have Akpo and Egina to compare to so they should not be delaying any more. The excuse that they are waiting for EEZ is nonsense. The chinese are just stonewalling for some advantage we are not aware of yet. I think it may have something to do with a buyin/out. They are probably trying to sweat us out by keeping the stock price down. I am getting real tired of watching the stock yoyo up and down so much on very little volume. The chinese can keep it going like that forever if they want. Starve us out so to speak. The AIM listing is probably a bluff from PN to show them we can wait theme out but it is not working. Where is the producing properties we were promised?
I agree especially since they demanded the information by the end of this month (next Tuesday). No reason at all for the delay.
His coattails is getting tattered and the narrow strip I am clinging too is getting shorter! LOL
I think the shirt he is wearing in the picture gives him away! LOL
He also does not have PN (either one) on his list of friends!
very funny. He likes Michele Obama. That tears it for me. Very poor taste IMHO! LOL
The court is already full of those! LOL
Nick as President, Middy as VP and Krom as CFO. Now there is a crew! LOL
BB, very interesting dots. Bovell's expertise is in merger and acquisitions yet he has done neither for over 3 years! They did not renew his contract yet keep him on month to month. He must have someone over the barrel since he is apparently doing nothing for his $250,000 salary. Interesting they bring out the MOU deals a year ago and it disappears into thin air just as quickly. The only efforts I see management accomplishing is the production of smoke and mirrors. To what end is the question. Other companies in the blocks have put out information yet we can't. They put out pr's stating only biogenic gas is found across the blocks yet they still spout the company holding oil and gas assets in the Gulf of Guinea. Wheres the oil? Why haven't they told us what is going on with blocks 5 & 6? Does it take 2 years for arbitratation? We still have block 9 and the two 15% blocks in the EEZ to determine. BB may be right on the buyout or buyin. It may not have happened yet but it sure smells like something is brewing. Can't happen fast enough for me. I'll take $10 share right now. Don't want to wait for the $20 share 5 years from now! LOL
BB, does this mean you have filed a lawsuit?
"I see this statement as misleading based on what they told ERHC shareholders. My efforts to have it corrected were to reflect what they've told their shareholders they found failed. I have taken action on this. I'm tired and disgruntled with the way they have oppressed their minority shareholders in this investment. Guys/gals based on my sp estimate for the final deal....us sitting at .34 cents spells more than just poor business practices. "
it does not matter how little the money traded so far is, what matters is the sp direction! I don't care if there is only $1 traded if the sp goes down it is due to someone trying to get it at a lower price.
apparently your chart is not watching the sp drop! LOL