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Don't forget that there are still PLENTY of people who got some at .03 to .08. She's not flying right off the bat, they are tired of waiting, who could blame them for a 10 to 20 bagger!
ERHE, keepin' my head cool...
This stock decidedly trades wacko. Do I like being below .70 right now? No. Am I worried? No. Here is why (feel free to add other points if you feel the same*.)
1) As a long, I have watched nearly all reasons why this could be a risky invertment vanish, one by one, since Ali Memon became our CEO. The very last one was that huge confirmation today that indeed the JDA finally HAS officially awarded us all of our right in round 2 of the JDZ, and then some (smart partnerships with Devon, Pioneer, Noble + clear leadership in drilling the two best block prospect of round 2.)
2) One would have to be a fool to believe that the rich, corrupted politicians on both sides - the smartest ones of whom I am convinced were loading quietly these past fwe weeks - are NOT going all out NOW, via their reps here, to control this puppy and load the boat. Heck, I wouldn't put it past Offor himself to join the party, that would give him a "better cushion" with more cheap shares in case of some kind of takeover attempt.
3) I have always said we will need 3 to 5 trading days after the official release of awards by the JDA to get the kind of good ramping up that will take us into a significantly higher trading range.
4) The way they ran it down yesterday morning first thing created a much wider recent history swing range which some MMs are having a field day with today, and probably for quite a while.
* Or if you "know something" post who you think is manipulating her right now LOL.
Huh? Rancho could you be just a smidgeon less allegoric LOL?
Translate for us lowly earthlings please.
ERHE - Afrol coverage
São Tomé-Nigeria oil blocks finally awarded
afrol News, 1 June - Five offshore oil blocks in the joint development zone between Nigeria and São Tomé and Príncipe were finally awarded tonight, in the zone's second licensing round. The big winner was the controversial company ERHC Energy. The licensing had been troubled by a five-month delay, multiple corruption charges and frictions between the governments of Nigeria and São Tomé.
The Nigeria-São Tomé and Príncipe Joint Development Authority (JDA) - which administers the offshore zone jointly owned by the two countries - this night awarded five offshore oil exploration licences to several small-scale international companies. Most of these oil companies have US or Nigerian owners and very little experience in the sector.
The great winner of the second licensing round was Environmental Remedial Holding Corporation (ERHC) - a company giving authorities in São Tomé a big headache. ERHC is a Texas-based company controlled by Nigerian businessman Emeka Offor, who had close links with Nigeria's former military leader. These contacts, the Nigerian press holds, were used a decade ago to achieve favourable deals with the past governments of Nigeria and São Tomé for all future oil explorations in the zone.
São Tomé's current government, led by President Fradique de Menezes, has reportedly tried to limit awards to ERHC in this second round, causing the five-month delay in the licence awarding. In São Tomé, several corruption charges have evolved around ERHC, which is not known to have any deepwater oil experience. Only an intervention by an irritated Nigerian President, Olusegun Obasanjo, in late May put the licensing process back on track.
The inexperienced Nigerian-US company was thus richly awarded, exercising its option rights in all the five blocks. In Block 2, a consortium of ERHC, Devon and Pioneer consortium was awarded a 65 percent interest and was designated the block's operator. Also in Block 4, a consortium of ERHC and Noble was awarded 60 percent interest and operatorship of the acreage. Blocks 2 and 4 were the most contested and promising. Also in blocks 3, 5 and 6 ERHC was awarded interests from 15 to 25 percent.
Block 3 went to Anadarko, a relative big independent oil company based in the US and with large-scale experience in Algeria. Anadarko won a 51 percent share and the operatorship of the block, which now stands out as the most professionally led among the joint development zone's five new blocks.
Block 6 went to Filtim Huzod, a small-scale Nigerian oil company with no previous experience in the sector. The Nigerian company, which is partnering with China's Sinopec, secured 85 percent and operatorship of the acreage of Block 6. Filtim Huzod was one of many competing Nigerian oil companies owned by former politicians.
The strangest licence was however awarded on Block 5, where a 75 percent ownership and operatorship went to a consortium of International Commerce and Communications (ICC) and Oil Exploration Consortium (OEC) - two totally unknown companies. Texas-based OEC had been advertising on the Internet for months, searching for "a partner with considerable experience in oil exploration" for its West African offshore operations. It found the Cayman Islands-registered ICC; a company to which there are no references.
The Nigeria-São Tomé and Príncipe Joint Development Authority (JDA) thus seemed even less lucky in its second licence awarding round than in its first, now being pressured to produce a conclusion for all the five contested blocks. In the first round, only one of the six announced blocks was awarded, to the US giant Chevron.
The trouble of getting serious bidders to the rich and promising blocks, combined with the unlucky old agreements with ERHC, last month caused political turmoil in São Tomé. A wave of corruption allegations caused the sacking of the presidential oil adviser and the temporary resignation of São Tomé's Natural Resources Minister Arlindo Carvalho, who was re-installed by President Menezes.
By staff writers
http://www.afrol.com/articles/16483
I agree Dadd. And I am looking forward to those that start outlining our company's business plan. We longs have been waiting a LONG time for that!
Looking for NEWS, BEST ARTICLES on current developments so that we may share it many other IHUB boards and fellow investors.
Please post as follows:
ERHE, ARTICLE TITLE
PUBLICATION/DATE/AUTHOR
CONTENT (ARTICLE)
URL.
Thanks folks!
Do post L2! And thank you for being civil.
Please be NICE to each other folks. Again, this isn't RB.
Great post THG. You still have a good shot at under a buck, and when you look at your buy later, you will just laugh those few pennies off.
Apologies for double post, not sure what happened, please remove extra copy!
Thanks for the welcome Tim.
I apologize in advance if you see quite a few of those over the next few weeks, ERHE is a company that has huge potential and we are FINALLY getting to the point where "things are clicking."
Just spreading useful info with fellow investors. It's up to them to do their DD and invest or not. Why am I doing this?
Compared to many I am just a (very small) investor, and how many times have I been left in the dust because NOBODY cared to post news or share good tips? Many... I don't want to be that way. I like the idea of bettering our lives and those of our families by functioning like a community.
This being said, if someone emails me back and there's a problem I remove their board from my list. No hard feelings (but their loss... LOL I wouldn't be surprised to see the ERHE story on the first page of WSJ some day.)
Good to have you here nodak. I think it's fair to say some of us longs have been longing (pun intended) for info from "out there" whatever the experience may be. Please keep sharing.
ERHE - Forbes News
Nigeria, Sao Tome announce award of oil exploration blocks
AFX News Limited
05.31.2005, 08:48 PM
ABUJA (AFX) - Nigeria and its island neighbour Sao Tome awarded five major offshore exploration contracts in their joint offshore development zone to foreign and local energy firms, officials said.
The long-awaited announcement came at the close of a meeting of the leaders of presidents Olusegun Obasanjo of Nigeria, Fradique de Menezes of Sao Tome and Teodoro Obiang Nguema of Equatorial Guinea on security in the Gulf of Guinea.
Nigeria and Equatorial Guinea are already major oil exporters and with Tuesday's decision De Menezes will now hope that his island nation can join what could become a major regional oil boom.
'The important documents that Sao Tome endorsed today will bring benefits to all our peoples, who are the owners of these resources,' De Menezes told reporters after the bilateral and trilateral meetings.
EHRC Energy Inc, a US-listed but Nigerian-owned firm which had been controversially pre-assigned much of the acreage, was among the companies emerging with awards.
Along with its partners - US-based independents Pioneer Natural Resources and Devon Energy - EHRC will be the operator firm of the 692 square kilometer Block 2 and hold 65 pct of the equity.
It will also operate Block 4 with a 60 pct share along with another US ally, Noble Energy.
EHRC will also hold 25 pct of Block 3, and 15 pct of Blocks 5 and 6.
The US firm Anadarko Petroleum Corp will operate Block 3 with a 51 pct stake, while Virginia-based ICC-OEOC have Block 5 and the Nigerian start-up Filtim-Huzod takes 85 pct of block 15.
The rest of the equity in the various blocks has been sold to a variety of local and foreign firms including Nigeria's Conoil and India's ONGC Videsh.
The sale netted the two countries a total bonus of 283 mln usd.
ola/dc/nb/tr
ERHE - Forbes News
Nigeria, Sao Tome announce award of oil exploration blocks
AFX News Limited
05.31.2005, 08:48 PM
ABUJA (AFX) - Nigeria and its island neighbour Sao Tome awarded five major offshore exploration contracts in their joint offshore development zone to foreign and local energy firms, officials said.
The long-awaited announcement came at the close of a meeting of the leaders of presidents Olusegun Obasanjo of Nigeria, Fradique de Menezes of Sao Tome and Teodoro Obiang Nguema of Equatorial Guinea on security in the Gulf of Guinea.
Nigeria and Equatorial Guinea are already major oil exporters and with Tuesday's decision De Menezes will now hope that his island nation can join what could become a major regional oil boom.
'The important documents that Sao Tome endorsed today will bring benefits to all our peoples, who are the owners of these resources,' De Menezes told reporters after the bilateral and trilateral meetings.
EHRC Energy Inc, a US-listed but Nigerian-owned firm which had been controversially pre-assigned much of the acreage, was among the companies emerging with awards.
Along with its partners - US-based independents Pioneer Natural Resources and Devon Energy - EHRC will be the operator firm of the 692 square kilometer Block 2 and hold 65 pct of the equity.
It will also operate Block 4 with a 60 pct share along with another US ally, Noble Energy.
EHRC will also hold 25 pct of Block 3, and 15 pct of Blocks 5 and 6.
The US firm Anadarko Petroleum Corp will operate Block 3 with a 51 pct stake, while Virginia-based ICC-OEOC have Block 5 and the Nigerian start-up Filtim-Huzod takes 85 pct of block 15.
The rest of the equity in the various blocks has been sold to a variety of local and foreign firms including Nigeria's Conoil and India's ONGC Videsh.
The sale netted the two countries a total bonus of 283 mln usd.
ola/dc/nb/tr
Indeed SH. Sweet.
Nice catch!
Feel free to hop on over the board, good DD there.
Yes, you are correct, BUT the company is just getting to the starting gate as an O & G co. Its right are inalienable and absolutely enormous (long story) and there are many billions of barrels of the best quality oil to go after with partners PXD, DEV, NBL, etc.
Hope this helps.
I have your board on my short favs list, hence the posting of important news (coming fast and furious right now LOL) but if posting these is a problem I'll remove it from the list, no biggie tim. Just let me know.
For those who doubted that trovoada was behind a lot of these delays, look what he got LOL...
Great post MAC, thank you.
Time for you to pull yourself together and CALM DOWN.
This stock has 99.99% chances to go MUCH higher in a matter of days.
Thank you.
chcr, THANK YOU FOR STARTING THIS BOARD.
BB and I contribute what we can, but without your foresight it wouldn't be here in the first place!
And congratulations to all, What a beautiful day after a long nail-biting weekend.
ERHE ***UPSTREAM NEWS***Gulf of Guinea blocks awarded
By Upstream staff
Sao Tome and Nigeria have awarded five offshore oil exploration licences, after a controversial five-month delay between the countries due to corruption accusations.
The blocks are located in the deep waters of the Gulf of Guinea.
A consortium of ERHC Energy nabbed a 65% stake and the operatorship of block two, while the operatorship of the highly contested block four was won by a consortium of ERHC Energy and Noble.
Anadarko grabbed a 51% share and the operatorship of block three, the consortium of International Commerce and Communications (ICC) and Oil Exploration Consortium (OEC) got 75% and operatorship of block five, while block six went to Nigerian indie Filtim Huzod which won 85% and operatorship of the acreage.
The first licensing round was suspended after just one exploration contract was awarded for $123 million, to a consortium led by Chevron. The second round went through a bidding stage in December, receiving bids as high as $175 million.
ERHE ***UPSTREAM NEWS***Gulf of Guinea blocks awarded
By Upstream staff
Sao Tome and Nigeria have awarded five offshore oil exploration licences, after a controversial five-month delay between the countries due to corruption accusations.
The blocks are located in the deep waters of the Gulf of Guinea.
A consortium of ERHC Energy nabbed a 65% stake and the operatorship of block two, while the operatorship of the highly contested block four was won by a consortium of ERHC Energy and Noble.
Anadarko grabbed a 51% share and the operatorship of block three, the consortium of International Commerce and Communications (ICC) and Oil Exploration Consortium (OEC) got 75% and operatorship of block five, while block six went to Nigerian indie Filtim Huzod which won 85% and operatorship of the acreage.
The first licensing round was suspended after just one exploration contract was awarded for $123 million, to a consortium led by Chevron. The second round went through a bidding stage in December, receiving bids as high as $175 million.
ERHE ***UPSTREAM NEWS***Gulf of Guinea blocks awarded
By Upstream staff
Sao Tome and Nigeria have awarded five offshore oil exploration licences, after a controversial five-month delay between the countries due to corruption accusations.
The blocks are located in the deep waters of the Gulf of Guinea.
A consortium of ERHC Energy nabbed a 65% stake and the operatorship of block two, while the operatorship of the highly contested block four was won by a consortium of ERHC Energy and Noble.
Anadarko grabbed a 51% share and the operatorship of block three, the consortium of International Commerce and Communications (ICC) and Oil Exploration Consortium (OEC) got 75% and operatorship of block five, while block six went to Nigerian indie Filtim Huzod which won 85% and operatorship of the acreage.
The first licensing round was suspended after just one exploration contract was awarded for $123 million, to a consortium led by Chevron. The second round went through a bidding stage in December, receiving bids as high as $175 million.
ERHE ***UPSTREAM NEWS***Gulf of Guinea blocks awarded
By Upstream staff
Sao Tome and Nigeria have awarded five offshore oil exploration licences, after a controversial five-month delay between the countries due to corruption accusations.
The blocks are located in the deep waters of the Gulf of Guinea.
A consortium of ERHC Energy nabbed a 65% stake and the operatorship of block two, while the operatorship of the highly contested block four was won by a consortium of ERHC Energy and Noble.
Anadarko grabbed a 51% share and the operatorship of block three, the consortium of International Commerce and Communications (ICC) and Oil Exploration Consortium (OEC) got 75% and operatorship of block five, while block six went to Nigerian indie Filtim Huzod which won 85% and operatorship of the acreage.
The first licensing round was suspended after just one exploration contract was awarded for $123 million, to a consortium led by Chevron. The second round went through a bidding stage in December, receiving bids as high as $175 million.
I'm not big. I resemble that remark.
LOLOL.
Yup, they are the big dog... and keen on getting their own O& G industry developed. Can't blame them...
Looks like Pioneer just got a sliver (see 3801). VERY strange...
Excellent, thanks HS.
NOTHING for Pioneer ??!!
Thanks a bunch Coy, I'm honored to hear that from someone in your league.
More importantly, I was THRILLED to hear that your health scare wasn't as bad as first thought.
Take good care.
Link?
Interesting angle LOL.
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
Thanks Tym, LOTS more upside in the next few weeks FWIW.
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108
ERHE, Nigeria-Sao Tome award five offshore oil blocks
ABUJA, May 31 (Reuters) - Sao Tome and Nigeria awarded five offshore oil exploration licences on Tuesday after a turbulent five-month delay plagued by disagreements between the countries and accusations of corruption.
A consortium of ERHC Energy (ERHE.OB: Quote, Profile, Research) and Devon (DEV.N: Quote, Profile, Research) won a 65 percent stake and the operatorship of block two, while the operatorship of block four, the other most highly contested block, was won by a consortium of ERHC Energy and Noble.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=8654108