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Mid as you said those numbers dont mean much, Tullow has much more success than 18 % and that was what they said too.
What is amazing and factual is that ERHC in 15 years has talked other companies into drilling our prospects for us the shareholder and spending about 330 million trying to find oil. THAT IS REMARKABLE.
Here's our well. https://plus.google.com/+kamaumbote
The 2D seismic program was designed to cover areas of interest resulting from structural mapping of prospective basins enabled by the airborne Full Tensor Gravity Gradiometry (FTG) survey of Block 11A completed recently. The FTG survey confirmed that the Lotikipi basin extends into Block 11A significantly advanced the exploration team's understanding of the internal structure of the Lotikipi rift basin and enabled the identification of the most prospective areas.
Another map showing dead end, lotikipi bigger.
http://www.energy-pedia.com/news/kenya/cnooc-to-drill-in-kenyas-anza-basin-block-9
More info on rifts and formations > https://en.wikipedia.org/wiki/Blue_Nile_rift
ERHC is obligated, under existing agreements, to pay 25 percent of its proportionate share of the costs of well and is carried for the remaining 75 percent of its proportionate share.
To date the partners have spent over $30 million as part of their PSC requirements that require acquisition and interpretation of 1,000 square kilometers of gravity and magnetic data (FTG data acquired by January 2014 at an estimated total cost of $2,700,000) and acquisition and interpretation 1,000 kilometers of 2D seismic data (concluded by August 2014 at an estimated total cost of $28,300,000).
Under the Work Program Phase 3 (2 years – September 2016 to September 2018) the JV is expected to drill one well to a minimum depth of 3,000m.
Seriously, We are in the middle of a last chance drilling ceremony and you want to bring up every possible negative scenario publicly. This is a time of hope and excitement and deep prayer. ;)
Why cant you just visit the ERHC office, email them direct or call them privately. I'm sure Peter would meet with you if you asked, if your a shareholder.
Also, BTW- I did say buy all you can afford to lose.
The S/P should be triple this....
They are drilling there because they think we are at a 3, 4 or maybe 5 way intersection!
http://www.commoditydispatch.com/africa-oils-testing-well-produces-3200-bopd/
Who hear really thinks the Muglad just dead ends?
I believe it was pioneer that was rumored back then to be working on a 6 to 8 dollar buy out when the stock was @85 cents. Not a good time to sell and miss that. Its really simple, we never found any oil, its our turn now though!
One mans opinion means NOTHING. CEPSA gives it 80% I bet!
If the geologist said 60% would it make a difference? Ive been doing this for 30 years, there are 500 things that can go wrong, NO ONE credible gives odds on a wild cat well. Get real.
Kenya is not involved? WTF
IF THEY FIND OIL EVERYTHING WILL CHANGE..... MATTER OF FACT THE SP WILL SOAR - THE PAST WILL BE A MUTE POINT, THEY HAVE NEVER PRODUCED A DROP, JUST IMAGINE IF THEY HIT ! ALL THE IRS PROBLEMS, UNDER FUNDED PROMOTIONS WILL FADE IMMEDIATELY. SO, BUY ALL YOU CAN AFFORD TO LOSE, NOW. THIS IS YOUR OPPORTUNITY TO BUY INTO A WILDCAT BIG BOY GAME FOR CHUMP CHANGE. THE UPSIDE IS HUGE FOR NEW INVESTORS. IVE BEEN HERE 17 YEARS - AKA TONGA - I NEED 4.50 TO B/E. NEVER TRADED THE STOCK WAS UP 900,000 AT ONE TIME. GO FOR IT.
THE ONLY REASON THE SHARE PRICE IS WHERE IT IS TODAY IS BECAUSE FOR 16 YEARS + THEY HAVENT FOUND ANY OIL. THEY ARENT MAKING MONEY!!! ANY OTHER REASONING IS JUST LUDICROUS.
IT DOES NOT MATTER HOW WE GOT HERE OR HOW MUCH IS OWED TO OTHERS - AT THE END OF THE DRILL BIT ALL THAT MATTERS IS FINDING OIL
BE HAPPY WE HAVE ANOTHER OPPORTUNITY AND SUCK IT UP.
GIVEN ALL THE EXTREME UNCONVENTIONAL MANEUVERING TO SURVIVE, ITS AT LEAST A MIRACLE THEY ARE DRILLING FOR THE SHAREHOLDERS NOW. NO ONE CAN DISPUTE THIS.
THATS MORE THAN 99% OF 1999 OIL PENNY STOCKS CAN SAY TODAY BECAUSE THEY ARE BANKRUPT- THEY DONT EXIST ....WE STILL DO.
WELL BE SINGING "OIL DROPS KEEP FALLING ON MY HEAD", CRYINGS NOT FOR ME!MID
That article made ZERO sense, What did it say other than positive cooperation..... on or for who? huh?
that the oil industry is being developed within certain cycles... wtf does this mean is this code for we all wanted a weekend away to meet and have fun? Seriously is there a point to this article?
I guess their happy Sao Tome is buying gas? "Sonangol continues to supply fuel to Sao Tome"
Cant wait to hear the reports of oil gushing out of the ground 3oo feet in the air! Headlines - Black Gold! Lots of eyes and attention on our well. Its a miracle we have this opportunity, thank God!
Then Peter can then say he's remarkable...lol
When the oil is flowing so will the investors.
The 14th Africa Independents Forum 2016, held on 25 and 26 May in London at the Waldorf Hilton , will be hosted by Global Pacific & Partners / JV ITE Group Plc.
(Photo: http://photos.prnewswire.com/prnh/20160426/360151 )
(Photo: http://photos.prnewswire.com/prnh/20160426/360152 )
The program includes:
PetroAfricanus Club- 75th World Upstream Reception: with guest speaker: Phil Loader , executive vice president of worldwide exploration of Woodside Energy, Perth, Australia
Women 6th Global Petroleum & Energy Club Luncheon: with guest speaker: Irini Katsiani Hughes, Head of Business Development EMEA at Statoil, London
4th Africa's Hydrocarbon Arguments Discourse: On Shaping Africa's E&P Future
Special panels: about finances and investments in oil and energy in Africa, with major investors and institutions and values ??of finance and oil and gas business debt through Africa
The speakers will provide unprecedented business insight into current and emerging exploration and development projects capital and business strategies E & P up. In addition to the main visions about the geo-economic and political economy of Africa, issues of company funds rate risk upstream in Africa will be discussed.
Confirmed speakers :
Doctor Duncan Clarke, Global Pacific & Partners (Londres), Pade Durotoye, Oando Energy Resources (Lagos), Paul Dailly, Kosmos Energy (Dallas), Taylor V. Ruggles, Asesor Regional Energético para África del U.S. Department of State (Estados Unidos), Doctor Ahmed Abdel Fattah, EGPC (El Cairo), Dr Ian Cloke, Tullow Oil (Londres), John Austin, OMV E&P (Londres), Jayne Baird, Woodside Energy (Londres), Thore E Kristiansen, Galp Energia (Lisboa), Ian Gordon, Noble Energy (Houston), Cath Norman, FAR Limited (Melbourne), Peter Ntephe, ERHC Energy Inc. (Houston), Mike Lakin, Envoi (Londres), Rogers Beall, Africa Fortesa Corp (Houston), Mitch Flegg, Circle Oil (Londres), Andrew Derksen, Lakeside Resources (Londres), Doctor Keith Myers, Richmond Energy Partners Ltd (Londres), Roger Carvalho, SPTEC Advisory (París), Shola Adeniran, Compass Energy (Londres), Peter Elliot, NVentures (Londres), Keith Hill, Africa Oil Corporation (Nairobi), Mike Doherty, Impact Oil & Gas Ltd (Woking), Bruce Burrows, Seven Energy International (Londres), Gabriel Ollivier, United Hydrocarbon International Corp. (Calgary), Larry Bottomley, Chariot Oil & Gas Ltd (Londres), Kevin Hart, Bowleven, (Edimburgo), Henrik Poulsen, Rystad Energy (Oslo), Brian O'Cathain, Petroceltic International plc (Dublín), Mark Llamas, FirstEnergy Capital LLP (Londres), Stuart Amor, Independent Advisor (Londres), Richard Savage, Mirabaud Securities (Londres), Rick Lorio, Energy Investment Company B.V. (La Haya), David Pilling, Nedbank Capital (Londres), Fredrik Ohrn, Svenska Petroleum Exploration AB (Estocolmo), John Bentley, Africa Energy Corp. (Calgary), David Fassom, Stellar Energy Advisors (Londres), Dr Richard Norris, Helios Investment (Londres), Brett Norris, Transglobe Energy Corp (Calgary)
http://www.africa-independentsforum.com
ERHC Energy's operations are focused on Sub Saharan Africa. In addition to its Kenya asset, ERHC holds a 100 percent interest in Block BDS 2008 in Chad. In the Gulf of Guinea, ERHC holds 100 percent of the rights to Block 4 in the São Tomé and Príncipe Exclusive Economic Zone (EEZ) Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. The Company also has interests across several oil blocks in the Nigeria - São Tomé and Príncipe Joint Development Zone (JDZ).
Does anyone have access to these reports.. these are just headlines.
New maps
https://www.pgs.com/data-library/africa/africa2/togo-to-nigeria/jdz/
https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=&url=http%3A%2F%2Fearthdoc.eage.org%2Fpublication%2Fdownload%2F%3Fpublication%3D83749&psig=AFQjCNGq4SjW755iM70_S-3_zli_elBQNQ&ust=1461635718921620
The S/P stinks and Ill blame it on day traders, no long term investor would be selling now. Their obviously is a shortage on NEW money/buyers.
The question is , how do we see the STUDY AREA? We now know Sinopec wasnt qualified for this exploration. This is very interesting indeed. Thanks King. They refer to 8 old wells like Apko etc.. this report says numerous new never drilled areas are enticing, but thats their job to sell the theory. Great report non the less.
The JDZ is in part covered by PGS multi-client 3D seismic which forms the study area. PGS has conducted an integrated study, including well analysis, seismic interpretation and quantitative seismic interpretation using a large exploration dataset. This dataset is composed of a recently reprocessed 3D seismic survey and eight wells that encountered hydrocarbons. To identify leads and their potential fluid fill, well log analysis was undertaken to determine rock and fluid parameters. The processed well logs were interpreted using sequence stratigraphic methodology and calibrated with biostratigraphic data to identify regionally correlatable sequence boundaries and assign depositional environments resulting in six regionally extensive mapped horizons.
Quantitative seismic interpretation was undertaken on pre-stack seismic data with an aim to predict lithology and fluid content away from the wellbores. Pre-stack seismic inversion was performed to produce elastic properties - relative and absolute acoustic impedance (ip), shear impedance (Is) and P-wave to S-wave velocity ratio (Vp/Vs). Rock physics analysis and fluid response modelling (through the Gassman fluid substitution equation) has been performed in the wells to appreciate the elastic responses to changes of fluid type and to be able to relate it to any seismic elastic attributes responses within the identified seismic leads. The analysis shows that an elastic response for hydrocarbon sands is separable from a brine sand response and shale response, leading to the possibility of mapping hydrocarbon sand anomalies by interpreting on pre-stack seismic and elastic attributes combined.
The key elements of a working petroleum system are proven to occur within the study area from the available well data. A number of undrilled leads with similar geological and structural characteristics to known discoveries have been identified & evaluated. In some of the structural leads there is the potential for the occurrence of stacked reservoirs, which could provide enhanced hydrocarbon trapping opportunities.
Permalink: http://dx.doi.org/10.1190/ice2016-6336340.1
Read More: http://library.seg.org/doi/abs/10.1190/ice2016-6336340.1
ERHC Energy Inc.: Drilling Commences in Kenya Block 11A
Tarach-1 well spuds
NAIROBI, KENYA, April 14, 2016 – ERHC Energy Kenya Ltd., the wholly owned Kenya-based subsidiary of ERHC Energy Inc. (OTC PINK:ERHE), today announced that its operating partner, CEPSA, has commenced drilling at the Tarach-1 well in Kenya Block 11A. ERHC is a publicly traded American company with oil and gas assets in Sub-Saharan Africa.
The Tarach-1 prospect’s mean estimate of oil prospective unrisked resources is 66 million barrels. Mean unrisked prospective resources of all prospects and leads in Block 11A totals 662 million barrels. ERHC holds a 35 percent interest in Block 11A.
The Tarach-1 well is designed to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a 7-inch liner down to total depth (TD) of 3,000 meters. The prospect is defined by four 2D seismic lines out of the 2014 survey. The structural trap is a 3-way dip closure against a north-south normal fault plane at 1,426 mMD (-954m TVDSS) and covering a surface area of 12 sq.km. The vertical closure is calculated at 220 meters at the P10 closing contour.
ERHC Energy Kenya Ltd., headquartered in Nairobi, Kenya, is guided by General Manager Dr. Peter Thuo.
ERHC Energy's operations are focused on Sub Saharan Africa. In addition to its Kenya asset, ERHC holds a 100 percent interest in Block BDS 2008 in Chad. In the Gulf of Guinea, ERHC holds 100 percent of the rights to Block 4 in the São Tomé and Príncipe Exclusive Economic Zone (EEZ) Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. The Company also has interests across several oil blocks in the Nigeria - São Tomé and Príncipe
Dumb and dumber : Sinopec Shifts Global Oil Assets to State Buyers Amid
One of China’s biggest oil and gas explorers found a buyer for its oil assets from Canada to Kurdistan amid a collapse in energy prices and a drive to reform state-run firms: another government-owned company.
China Petrochemical Corp., Asia’s biggest refiner known as Sinopec Group, sold to two state investment vehicles more than half of a unit that holds its overseas assets. Shifting ownership of properties across the energy supply chain into other government-run companies is becoming more common in China in anticipation of broader industry reforms, according to Tian Miao, an analyst at North Square Blue Oak Ltd., a China policy research company.
“Only the state-owned asset companies have the capacity and money to merge and reorganize them,” Tian said. “Those overseas projects bought at high oil prices years ago may have lost massive value in this low oil price environment.”
Brent crude, the global benchmark, has lost more than 60 percent in the past two years. In addition to cratering energy prices, China’s oil industry is under pressure from President Xi Jinping’s broader efforts to revamp the country’s bloated government sector and introduce market-oriented reforms.
The unit, Sinopec International Petroleum Exploration & Production Corp., acquired many of the properties when oil was above $100 a barrel and is now challenged to find buyers, according to James Hubbard, a Hong Kong-based analyst at Macquarie Capital Securities Ltd.
Overseas Acquisitions
“No company would buy those assets at anything but a small fraction of what Sinopec Group paid for them,” Hubbard said. The assets “have book values that are far in excess of anything Sinopec’s listed company would pay without destroying vast amounts of shareholder value.”
China’s biggest oil and gas companies, which include Sinopec Group as well as China National Petroleum Corp., spent nearly $119 billion on energy deals from 2009 through 2013, accounting for 13 percent of global transactions in the industry, data compiled by Bloomberg show.
The overseas assets SIPC held for Sinopec Group include the $3.1 billion stake it bought in Apache Corp.’s Egyptian operations in 2013 and its $4.65 billion share in Syncrude Canada Ltd. in 2010. It also took over Canadian explorer Daylight Energy Ltd. for $2.1 billion in 2011. Oil prices averaged more than $100 during those years.
Reform Holdings
SIPC also holds assets Sinopec Group picked up from Addax Petroleum Corp., for which it agreed to pay C$8.3 billion in June 2009, and a $7.1 billion chunk of Repsol YPF SA’s Brazilian unit bought in 2010. It also owns projects in Russia, the Middle East and Africa, according to its website. SIPC will retain operational control of the assets after the deal, it said in a statement Friday.
SIPC sold the stakes to China Chengtong Holdings Group Ltd. and China Reform Holdings Corp., without providing a value for the transactions. The statement Friday announcing the deal said ownership will be split into two 30 percent stakes and one 40 percent share, without providing details. A Sinopec Group spokesman was unable to clarify. Neither China Chengtong Holdings nor China Reform Holdings responded to requests for comment.
China Reform Holdings was involved in a separate shift of assets in November, when it bought a 50 percent stake in PetroChina Co.’s Trans-Asia Gas Pipeline Co. for $2.4 billion as the the state-owned explorer tried to raise money to meet year-end profit targets.
Sinopec Group’s international units produced 49.86 million barrels of crude in 2014, or about 14 percent of its total 360.7 million barrels output, according to its 2014 annual report.
Here is an example of a 3 way trap! page 10 thru 12
http://www.egas.com.eg/BidRound2012/block002.pdf
Just keep posting this: nothing else matters.
ERHC Energy Inc.: Drilling Commences in Kenya Block 11A
Tarach-1 well spuds
NAIROBI, KENYA, April 14, 2016 – ERHC Energy Kenya Ltd., the wholly owned Kenya-based subsidiary of ERHC Energy Inc. (OTC PINK:ERHE), today announced that its operating partner, CEPSA, has commenced drilling at the Tarach-1 well in Kenya Block 11A. ERHC is a publicly traded American company with oil and gas assets in Sub-Saharan Africa.
The Tarach-1 prospect’s mean estimate of oil prospective unrisked resources is 66 million barrels. Mean unrisked prospective resources of all prospects and leads in Block 11A totals 662 million barrels. ERHC holds a 35 percent interest in Block 11A.
The Tarach-1 well is designed to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a 7-inch liner down to total depth (TD) of 3,000 meters. The prospect is defined by four 2D seismic lines out of the 2014 survey. The structural trap is a 3-way dip closure against a north-south normal fault plane at 1,426 mMD (-954m TVDSS) and covering a surface area of 12 sq.km. The vertical closure is calculated at 220 meters at the P10 closing contour.
ERHC Energy Kenya Ltd., headquartered in Nairobi, Kenya, is guided by General Manager Dr. Peter Thuo.
ERHC Energy's operations are focused on Sub Saharan Africa. In addition to its Kenya asset, ERHC holds a 100 percent interest in Block BDS 2008 in Chad. In the Gulf of Guinea, ERHC holds 100 percent of the rights to Block 4 in the São Tomé and Príncipe Exclusive Economic Zone (EEZ) Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. The Company also has interests across several oil blocks in the Nigeria - São Tomé and Príncipe Joint Development Zone (JDZ).
Are they (Peter)still buying shares?
There is no data in the area to quote probabilities, if he would have said 50% would you be satisfied, would you agree? No one knows for sure. Be happy they are drilling, it is factually a remarkable feat - against all odds. Especially with all the constant berating of the management and current market.
Agreed, good point, just another real possibility. ERHC has said 100 times to wait for their information. I'm just thankful for the opportunity to drill once again.
That was only one source and given the current oil prices and time needed to evaluate Tarach. Because, they are not wanting to commit on that particular spot right now can mean 20 different things, farm ins, geologist changed plans, commitment cost were to high... on and on. If tarach is a winner.. that is a game changer.
.22 lol Wrong again OILY - You never had a clue.
Ferab, this is a completely new unexplored area, very risky its NOT hot yet.
We will make it Hot if its Gods will. ERHC has never fluffed PRS till they had facts to share or it had been a really long long time before any update then they just repeat. Also, Im sure there is an explanation why the IRS issue wasnt shared sooner.
How about we just hope #1 tarach is what they and we hope for. Onw well at a time. There is no timeline in this business, some here think dates are set in stone. Shows their experience. Its an amazing achievement we got this far after JDZ was a Chinese nightmare with what was unknown at the time they had no clue where to drill and very little experience!! This is a totally different situation. We are fortunate to have another opportunity especially given the price of oil.
Pray!
ERHC Energy Inc.: Drilling Commences in Kenya Block 11A
Tarach-1 Well Spuds
NAIROBI, KENYA--(Marketwired - Apr 14, 2016) - ERHC Energy Kenya Ltd., the wholly owned Kenya-based subsidiary of ERHC Energy Inc. (OTC PINK: ERHE), today announced that its operating partner, CEPSA, has commenced drilling at the Tarach-1 well in Kenya Block 11A. ERHC is a publicly traded American company with oil and gas assets in Sub-Saharan Africa.
The Tarach-1 prospect's mean estimate of oil prospective unrisked resources is 66 million barrels. Mean unrisked prospective resources of all prospects and leads in Block 11A totals 662 million barrels. ERHC holds a 35 percent interest in Block 11A.
The Tarach-1 well is designed to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a 7-inch liner down to total depth (TD) of 3,000 meters. The prospect is defined by four 2D seismic lines out of the 2014 survey. The structural trap is a 3-way dip closure against a north-south normal fault plane at 1,426 mMD (-954m TVDSS) and covering a surface area of 12 sq.km. The vertical closure is calculated at 220 meters at the P10 closing contour.
PETER SPEAKS - REMARKABLE
https://globenewswire.com/news-release/2016/04/13/828574/0/en/Corporate-oil-and-gas-players-in-Africa.html
DRILL DUDE DRILL
662 million barrels of oil x 35 % @ 30 a barrel?
7 billion
I've been here 16 + years and Ill say, finding oil in these new areas is no small feat. Talking others into drilling and spending their resources is a major undertaking and Peter has done this in new remote areas. Not to say they are perfect but everyone doesn't have a crystal ball. It is amazing this company even exist after the JDZ fallout. Anyone who thinks its easy appeasing global oil companies and penny stock shareholders has a lot to learn.
Concerning the IRS I am sure they thought and still do think, they will prevail in the courts eventually. Appeal is Peters middle name. I have to assume they didn't think it would go this far, as the IRS wont get anything unless we do as well. The IRS is a joke as we all know, they are incompetent and a political enemy within. The IRS should be abolished. This disallowed claim is ridiculous, and a game since the investigation didn't find anything. We should file suit on the IRS for the previous BS investigation. Bill them 30 million for damages.
major flood on Tarach River, hope it was a wall of oil but could delay transportation of equipment for sure.
http://reliefweb.int/sites/reliefweb.int/files/resources/KEN_SSD_Update01to15March2016.pdf
On 09 March, Kakuma experienced flash floods after hours of heavy rainfall.The UNHCR compound and adjacent agency compounds were flooded as Tarach River which bypasses the compound burst its banks. Some shelters in the camp were also affected and UNHCR has already intervened by providing shelter and NFIs to affected households
http://www.standardmedia.co.ke/article/2000192385/how-my-discovery-of-crude-oil-in-turkana-county-was-stolen/?articleID=2000192385&story_title=how-my-discovery-of-crude-oil-in-turkana-county-was-stolen&pageNo=2
South end of our block? Pokot? No its Tullow and Africa oil but a interesting story nonetheless.
Nicely said Oldoil, Ill 2nd that as well, it does no one any good to constantly berate us and cry about the management. No one knows all the details especially in a penny stock. Let them drill, be glad we are drilling!