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Oil Jr. - Yep! / 155709 & 155089
it didn't affect our pps then, it wont now
they have no audience
small timers
zero effect
not 1 share
Great News - thanks for sharing
I WEEK till the AA Sets Sail
and look at oil over $50 again !!
less than a Fortnight away
Yup, Oil up $49.45 /weak US $ = Higher Oil
http://www.cnbc.com/id/15839171/
RED remind the folks again what happens to penny oil stocks and Elephants ???????
Addax Petroleum announces record well test in Taq Taq appraisal program
Wednesday March 18, 7:16 am ET
<< TT-10 appraisal well generates record aggregate rate of 44,240 barrels per day >>
CALGARY, March 18 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC) today announced flow test results for the TT-10 well, the seventh Cretaceous appraisal and development well drilled on the Taq Taq field by Taq Taq Operating Company, the joint venture company formed by Genel Enerji A.S. ("Genel") and Addax Petroleum to carry out the petroleum operations in the Taq Taq license area.
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Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "We are extremely pleased to have achieved record aggregate test rates from the most recent Cretaceous appraisal well at Taq Taq. Addax Petroleum continues to lead the development of this emerging oil region through our highly successful appraisal program. The results from the appraisal campaign have been incorporated into a full field development plan which was recently submitted to the Kurdistan Regional Government for their review and approval."
Three Cretaceous reservoirs were tested separately and flowed at an aggregate rate of 44,240 bbl/d of light oil, measured gravity of 48 degrees API with low gas oil ratio. Two intervals in each of the Shiranish and Kometan reservoirs were completed and tested independently due to the highly varying character of each, as identified through the logs. The independent testing allowed for further characterization of the flow behaviour of these intervals in addition to assessing the most likely completion strategy for future development wells. The Shiranish intervals tested were a 136 metre completion in the upper section which flowed at a rate of 17,700 bbl/d and an 85 metre completion in the lower section which flowed at a rate of 13,780 bbl/d. The Kometan intervals tested were a 67 metre completion in the upper section which flowed at a rate of 19,380 bbl/d and a 49 metre completion in the lower section which flowed at a rate of 14,800 bbl/d. The Qamchuqa interval tested was a 136 metre completion which flowed at a rate of 11,080 bbl/d. Oil flow rates from the above intervals were restricted by a two-inch choke size. The aggregate rate of 44,240 bbl/d was compiled using the Lower Shiranish, Upper Kometan and Qamchuqa intervals as these were deemed by the Corporation to be more representative of previously announced test results. Evaluation of these flow test results is ongoing.
The TT-10 well was drilled into the crest of the main Cretaceous formations in the Taq Taq field, as identified on 3D seismic, where it encountered a gross oil column of 530 metres. The TT-10 well was spudded by the Kurdistan-1 rig in August and completed drilling in late December at a total depth of 2,247 metres. Testing of the TT-10 well was delayed such that the well could be hooked up to the early production system allowing for test oil to be monetised at a later date. Interpretation of data acquired from the TT-10 well, including wireline logging and core samples, confirmed the presence of a significant and extensive fracture system in the tested formations as observed in the previous Cretaceous appraisal wells. In addition, the log analysis performed indicates that matrix porosity increases towards the centre of the field.
The TT-10 well is the final well in the drilling and seismic appraisal program by Addax Petroleum and Genel. The results of the drilling and seismic appraisal program were integrated into a full field development plan for Taq Taq which Addax Petroleum submitted to the Kurdistan Regional Government for approval earlier this month. Addax Petroleum expects to formally present the Taq Taq development plan to the Kurdistan Regional Government in Erbil in April 2009. An early production system with capacity of 30 Mbbl/d has already been completed with plans to expand capacity up to 60 Mbbl/d in mid 2009. The Taq Taq Operating Company is currently selling crude oil from the Taq Taq field on an intermittent basis into the local market where it is being trucked to local refineries according to regional demand.
The Kurdistan-1 drilling rig was moved within the Taq Taq license area and spudded the Kewa Chirmila exploration prospect in February 2009. The Kewa Chirmila well is expected to take approximately 120 more days to drill with potential testing of a discovery to follow.
About Addax Petroleum
Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on West Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8.8 Mbbl/d for 1998 to an average of 136.5 Mbbl/d for 2008. Further information about Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com.
Mark your Calender for latest detailed JDZ updates
thanks
Addax Petroleum announces London and Toronto Capital Markets Days
Tuesday March 17, 7:03 am ET
CALGARY, March 17 /CNW/ - Addax Petroleum Corporation (TSX: AXC and LSE: AXC) ("Addax Petroleum" or the "Corporation") will host a management presentation to financial analysts and investors on Monday, March 23, 2009 in London, U.K. and on Tuesday, March 24, 2009 in Toronto, Canada.
The Corporation's senior management team, including Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, Mr. Michael Ebsary, Chief Financial Officer, Mr. Jeff Schrull, General Manager Exploration, and Mr. Henry Legarre, Technical Manager Middle East will discuss the Corporation's most recent operating results and expectations regarding future operations.
Conference call / webcast details
London
Date: Monday, March 23, 2009
Time: 10:30 a.m. London, U.K. time
Toronto
Tuesday, March 24, 2009
Time: 10:00 a.m. Eastern Time
To listen to the conference calls, please call one of the following:
Toronto and International: +1 416 644 3414
Toll-free (Canada and the U.S): +1 800 733 7571
Toll-free (U.K.): 00 800 2288 3501
Toll-free (Switzerland): 00 800 2288 3501
A replay of the London conference call will be available at +1 (416) 640-1917 or +1 (877) 289-8525, passcode 21300638 followed by the number sign until Thursday, April 23, 2009.
A live webcast of the London presentation will be available via the following link:
http://w.on24.com/r.htm?e=137992&s=1&k=3DAFF41278BAFFC2D19F4B5A419791E4
For further information
Mr. Craig Kelly, Investor Relations, Tel.: +41 (0) 22 702 95 68, craig.kelly@addaxpetroleum.com
Mr. Chad O'Hare, Investor Relations, Tel.: +41 (0) 22 702 94 10, chad.o'hare@addaxpetroleum.com
Ms. Marie-Gabrielle Cajoly, Press Relations, Tel.: +41 (0) 22 702 94 44, marie-gabrielle.cajoly@addaxpetroleum.comp
Mr. Nick Cowling, Press Relations, Tel.: (416) 934-8011, nick.cowling@cossette.com
Mr. Mark Antelme, Press Relations, Tel.: +44 (0) 20 3178 6242, mark.antelme@pelhampr.com
Dan K featured in communications article, ...
http://www.nailba.org/content/perspectives/documents/HowtoRecoverfromaBlackEye.pdf
new MM Bidder PUMA
why did ERHC Choose their 30% pick on BL 2 vs. BL 4 ?
was this a Multi Million Dollar Mistake in evaluating the blocks potential pre OBO 1 ?
we could have squeezed out 3-4% more Free Carry in BL 4
Thanks
not necessary, but what about a box for the new NSAI Numbers
just a thought
thanks for all you do
YankeMike - small request but could the JDZ Map Be updated with the Addax JDZ Prospect Map and Operators
http://www.addaxpetroleum.com/_media/200903-Investor_Presentation.pdf
page 9/21
or
http://www.addaxpetroleum.com/operations/jdz/license_areas_overview/detailed_overview
the Poker Stakes are going up, the players are positioning,
the game has been set for a while we just never knew the game time, and now we do ...
as everyday passes we are closer to the prize
while $0.28 is not great and based on past run-ups of N of $0.80 on 3 separate occasions with far less in the coffers we can easilly second guess our investment decisions
BUT - the past is the past - this is the new economic reality
that said,
its simple supply and demand and we just dont have enough buyers
but the sellers are slowing their pace [low VOL indicator] , buyers are tightening their grip and hence leaving the pps to only go one way - UP
this is NOT a stock you want to bet against in 2009-2010, this is BIG OIL and we have lots of it - playing with the majors
too many variables and too many favorable outcomes
the rumors of buyin / buyout have already started and will grow in intesity and conviction.
those 3 offshore JDZ ERHC accounts were set for an obvious sale ... time will tell -
Some have said ERHC WILL NOT BE ERHC when the OIL comes - and its coming
FYI - are sources have proven correct and will again
From Oilphants Exxon Story ...
perhaps we will see these number for us 1 day
Exxon found 8 Billion BBls of Oil
= $380 Billion
So therefore ...
1 Billion BBls of Oil = $47.5 Billion
So ERHC's 500 Million BBls of oil
(Best NSAI_ estimate for JDZ 2-3-4)
is worth ... $23.75 Billion
Oil a bit Higher Please ...
and
Drill Ship Please ....
puts it on Fast Track IMO - recall Oily said ...
"SEO to make an ERHC announcement"
we shall see ...
Wow !!
Oilphant What Price will he Sell at ??
Addax Presents 3:40PM EST Today
Addax Petroleum announces that Mr. Michael Ebsary, Chief Financial Officer, will be presenting at the FirstEnergy / Société Générale Canadian Energy Conference in New York, USA on
Thursday, March 12th, 2009
at approximately 3:35 p.m. Eastern Time (7:35 p.m. London Time).
Investors are invited to listen to the live audio webcast of the presentation via the following link:
http://remotecontrol.jetstreammedia.com/15773
The presentation slides will be available on Addax Petroleum’s website at www.addaxpetroleum.com.
by LAW Strass.. they must be conservative
the DP will be worth the long wait and botched prior RIG attempts
Jeff Schrull Head of Addax Exploration formerly of Chevron W. Africa says its a ... "Company Maker"
tick tock / tick tock
Jim EXACTLY ....this says it all ... The big dome at Kina (JDZ Block 4) makes the structure at Agami looks like a child's play.
If you look carefully at KINA's seismic profile, you would notice that the head of the dome started at approximately 700 m (approx. 2100 ft) below the 36 inches casing shoe and continues for more than 6000 ft dowhhole.
What I found rather moe interesting too is the width of the pool that streches through the MEANDERING CHANNEL! From the seismic profle, it is clear that the width of the payzone increases as we go deeper into the formation.
This is what some geologist call "OCEAN WELL". Oil that flows beneath the ground like an OCEAN!.
I tell you something, we are into something MEGA and life changing. As the story starts unfolding, only the patient dogs in this play will eat the fattest bone!
Hold and buy more if you can!!!!
E*Trade Retail seller again today - let em sell
and see ya later
they will be chasing it higher again soon enough
Kudos Magic - Nice Find !!
Red - June would be Awesomme !!!!
Thanks to S.Freed as always
Addax Presents today in New York 3:35PM EST
Addax Petroleum announces that Mr. Michael Ebsary, Chief Financial Officer, will be presenting at the FirstEnergy / Société Générale Canadian Energy Conference in New York, USA on
Thursday, March 12th, 2009
at approximately 3:35 p.m. Eastern Time (7:35 p.m. London Time).
Investors are invited to listen to the live audio webcast of the presentation via the following link:
http://remotecontrol.jetstreammedia.com/15773
The presentation slides will be available on Addax Petroleum’s website at www.addaxpetroleum.com.
IMO - I dont think Mgnt. cares about the pps. they never really have
They know based on the 3 Separate Shell OffShore Companies they created last year [JDZ 2 Inc / JDZ 3 Inc. / JDZ 4 Inc. / ...
That they expect a Buyout of Several Dollars a share
from any one of several companies
so they can just sit back - again IMO
True while the pps has underperformed with the news Compared to previous run-ups with less news
it is what it is
Times are Tough for many and there is less disposable income to invest in Jr. Oil Plays
Lets hope our Swiss Friends or other Friends take their position of 2 Million to 20 Million - then you will see price action
us little guys just need more help
thanks Larry - great to know we have some serious oil folks here
Oilphant your posts should read IMO
why would you post Monday not to be short and the day after call for the bottom to fall
geez
just Etrade selling [some traders or flippers]
we know what we have and we are closer than ever
Lack of buyers is all
U selling Oilphant ?
aint she pretty ... http://www.ERHC.com
NO it was a 5+5 Option on the AA
so 4 with the Deepwater + 5 With the AA
+ 5 Optional
Many Many Many Many Prospects to drill
******** NEWS ******** ROO ********
Addax Petroleum secures fifth generation drillship to commence deepwater exploration in 2009
Wednesday March 11, 6:27 am ET
Deepwater exploration campaign expected to commence in the fourth quarter
of 2009
CALGARY, March 11 /PRNewswire-FirstCall/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC), today announces that it has signed an agreement with a subsidiary of Transocean ("Transocean") for the provision and operation of the Deepwater Pathfinder drillship to commence its deepwater exploration drilling campaign.
Addax Petroleum expects to receive delivery of the Deepwater Pathfinder at the end of the third quarter 2009 and intends, subject to Joint Development Authority approval, to commence the drilling of the Kina prospect in Block 4 of the Joint Development Zone shortly thereafter.
Commenting, Addax Petroleum's President and Chief Executive Officer, Jean Claude Gandur, said: "We are extremely pleased to have resourced one of the premium drilling rigs available on the market today for our deepwater exploration campaign.
The Deepwater Pathfinder has proven that it is exceptionally capable and has drilled efficiently for other operators in the deepwater Gulf of Guinea. Commencing Addax Petroleum's deepwater exploration campaign will be a very exciting time for our organization and shareholders given that our deepwater inventory consists of numerous sizeable prospects which, if successful, have the potential to significantly enhance the Corporation's recoverable reserves."
The Deepwater Pathfinder is a fifth generation dynamically positioned deepwater drilling rig capable of drilling in water depths up to 3,048 metres.
The contract with Transocean requires the Deepwater Pathfinder to drill four wells in total with a minimum commitment of 120 days.
The Transocean contract anticipates that the Deepwater Pathfinder will start drilling operations in the fourth quarter of 2009 once it has completed a drilling campaign for a third party operator in Nigeria.
Payments under the contract are based on a day rate charging structure and a day rate of $600,000 to be allocated pro rata to Addax Petroleum and its applicable co-contractor parties.
Addax Petroleum has a deepwater exploration portfolio that consists of interests in five license areas comprised of OPL291, offshore Nigeria, and Blocks 1, 2, 3 and 4 in the Joint Development Zone ("JDZ") between Nigeria and the Republic of Sao Tome and Principe.
Addax Petroleum operates JDZ Block 4 and OPL291 while Chevron, Sinopec and Anadarko operate JDZ Blocks 1, 2 and 3, respectively. As at December 31, 2008, Netherland, Sewell & Associates Inc., independent oil and natural gas reservoir engineers ("NSAI"), estimates the Corporation's working interest best estimate unrisked prospective oil resources for its deepwater portfolio to be 1,359 MMbbl (493 MMbbl risked).
About Addax Petroleum
Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on West Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8.8 Mbbl/d for 1998 to an average of 136.5 Mbbl/d for 2008. Further information about Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com.
Source: Addax Petroleum Corporation
Sounds like Progress - Thanks Mark
Fishdog, it's Ify Offor and she is SEO's Daughter from Europe, she's
on the ERHC Group at Face Book along with Dan Keeney and other ERHC Celebs
perhaps keeping an eye out for her Dad >>?
Crude Oil back over $47 +
Addax Presenting this week in New York [hmmmm]
Addax Petroleum presents at the Firstenergy / Société Générale Canadian Energy Conference
Calgary, Alberta, March 6th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC),
announces that Mr. Michael Ebsary, Chief Financial Officer, will be presenting at the FirstEnergy / Société Générale
Canadian Energy Conference in
New York, on
Thursday, March 12th, 2009
at approximately 3:35 p.m. Eastern Time
(7:35 p.m. London Time).
Investors are invited to listen to the live audio webcast of the presentation via the following link:
http://remotecontrol.jetstreammedia.com/15773
The presentation slides will be available on Addax Petroleum’s website at www.addaxpetroleum.com.
ERHC Does NOT or has *EVER* Pumped
in Fact they went out of their way several years back in a PR -stating any articles or PRs from anyone OTHER THAN the Company ERHC or an Offical Partner [Addax] or Govering Body / Agency [JDA] are NOT to be considered as reliable sources of info regarding to ERHC
Facts...
ERHC hinted at progress of a ROO in their last PR [viewed as a surprise and shift from past PRs] [Reliable]
Platts wrote a story [Questionable]
Upstream wrote a story [Questionable]
a Sr. JDA Official verbally confirmed the ROO with Specific details and word of a PR to be released [Reliable]
ADDAX CEO says ROO is still on table and being negotiated [Relaible]
other posters have leaked the DP as ROO [Questionable]
So add it up
no Pumps - just facts
if a few posters get excited and post as such - thats life
you must be able to decipher news from hype
im sure you can tell the difference between official news and investor hype
Perfect i see now thanks Tryoty...
http://finance.aol.com/company/erhc-energy-inc/erhe/nab/institutional-ownership