Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know AF is in GSS. Are you in GSS? I am not in but looking to buy?
Matt: What do you think of LIQD here at .30. .50 a share in cash and no debt.
What do you mean LSG at 1.12 now? I see LSG at .92
From the Tullow update it sounds like Cespa/ERHC will have to drill quite a few wells to determine the extent oil in our block. What do you think?
I think the convertible holders are still dumping but maybe not as large. See the 2 big sales near the end of day. I don't think any long term holders would have sold at this price.
15:27:04 0.0107 10000 OTO
15:27:03 0.0107 270000 OTO
14:05:21 0.0107 220000 OTO
14:04:36 0.0107 24700 OTO
13:47:43 0.0105 38986 OTO
13:20:06 0.0102 6848 OTO
13:20:06 0.01023 6848 OTO
10:46:25 0.0105 75000 OTO
10:46:06 0.0105 1014 OTO
10:45:58 0.0105 36177 OTO
10:45:58 0.01047 10000 OTO
10:27:37 0.0105 75000 OTO
10:17:00 0.0105 50000 OTO
10:11:35 0.0105 10000 OTO
09:34:53 0.0108 50000 OTO
09:33:24 0.01103 10000 OTO
09:33:24 0.011 100000 OTO
09:31:06 0.011 500000 OTO
Don't they have to be a CDMA or LTE phone to work with Sprint or Verison. As far as I can tell the IFON is a GSM phone (ATT - Europe)
Does IFON offer a phone that will work with Sprint?
Badada-1 Well Drilling Update in Kenya’s Block 2B
JANUARY 21, 2015 BY SAMUEL KAMAU MBOTE
Taipan Resources through its Kenya-based subsidiary Lion Petroleum has provided the following update on drilling operations for the Badada-1 well, Block-2B, onshore Kenya.
The Badada-1 well commenced drilling operations at 14:00 GMT on 7 January 2015 and has been drilled to a total depth of 918 metres MDBRT (Measured Depth Below the Rotary Table) intersecting a Neogene sequence.
A 20-inch casing has been set at 298 metres MDBRT and the well is currently drilling ahead with the 17 1/2-inch section to the next casing point.
The plan is to drill the well to a total depth of between 3,000 and 4,000 metres in order to test primary targets in Tertiary age reservoirs. Lion, the operator on Block-2B, expects the well to take up to 70 days to complete.
The Company will provide further operational updates as the Badada-1 well progresses. A comprehensive update will also be provided once operations on the Badada-1 well have been fully completed and analysed.
Swala Energy appoints financial advisor as it considers farm-down in East Africa
JANUARY 21, 2015 BY SAMUEL KAMAU MBOTE
Swala Energy has announced that it has appointed London based First Energy Capital LLP as financial adviser to the Company as it considers interest from a third party to review the Company’s assets available for farm-down.
Swala says that it has continued to receive additional levels of interest since its first announcement on 2nd December 2014 in relation to the partial or complete farm-down of its assets in the East African Rift System.
Swala’s board of directors says FirstEnergy will manage the process with a view of reviewing the Company’s options to maximize the long-term value of the Company’s portfolio, including a potential merger or sale of the Company.
“The Company expects this review to be concluded in the coming months, and advises shareholders that the expressions of interest received to date are highly preliminary, and as such, there is no certainty that any offer will be made, or sale concluded, nor as to the terms of any offer or sale,” reads a statement from Swala.
Swala CEO Dr. David Mestres Ridge says data from the just completed seismic acquisition has made its acreage desirable for investors.
“The completion of our seismic survey programmes in December 2014 and the clear indication from them of a large number of significant leads and prospects within our licences make this an opportune time to review the Company’s options to maximise value from its portfolio ahead of the Company’s planned 2015 drilling campaign,” he says.
Swala currently holds substantial equity in assets in Tanzania (Kilosa-Kilombero, Pangani licenses), Kenya (Block 12B) and Zambia (Block 44)and has an active business development program in Sub-Saharan Africa.
Swala Energy appoints financial advisor as it considers farm-down in East Africa
JANUARY 21, 2015 BY SAMUEL KAMAU MBOTE
Swala Energy has announced that it has appointed London based First Energy Capital LLP as financial adviser to the Company as it considers interest from a third party to review the Company’s assets available for farm-down.
Swala says that it has continued to receive additional levels of interest since its first announcement on 2nd December 2014 in relation to the partial or complete farm-down of its assets in the East African Rift System.
Swala’s board of directors says FirstEnergy will manage the process with a view of reviewing the Company’s options to maximize the long-term value of the Company’s portfolio, including a potential merger or sale of the Company.
“The Company expects this review to be concluded in the coming months, and advises shareholders that the expressions of interest received to date are highly preliminary, and as such, there is no certainty that any offer will be made, or sale concluded, nor as to the terms of any offer or sale,” reads a statement from Swala.
Swala CEO Dr. David Mestres Ridge says data from the just completed seismic acquisition has made its acreage desirable for investors.
“The completion of our seismic survey programmes in December 2014 and the clear indication from them of a large number of significant leads and prospects within our licences make this an opportune time to review the Company’s options to maximise value from its portfolio ahead of the Company’s planned 2015 drilling campaign,” he says.
Swala currently holds substantial equity in assets in Tanzania (Kilosa-Kilombero, Pangani licenses), Kenya (Block 12B) and Zambia (Block 44)and has an active business development program in Sub-Saharan Africa.
Has your opinion changed on SARA?
You were correct when you called the down turn last year.
Where do you think gold goes from here?
Why do you think TAIPF is down so much since they started drilling the well
the insider restriction on selling is still in place. Only the restriction on buying was lifted.
Tullow Oil to drill first exploration well in Kenya’s Block 12A
JANUARY 16, 2015 BY SAMUEL KAMAU MBOTE
Tullow Kenya is to drill its first exploration oil well in Elgeyo Marakwet later this year, as the company continues to expand its oil and gas search into new areas within the country.
The oil exploration company said the proposed exploration well named Lekep-A , will be the first exploration well to be drilled by Tullow on Block 12A.
Speaking at a meeting with Elgeyo Marakwet leaders held Rob Gerrits, and the Tullow Kenya Social Performance Manager said the oil firm had already conducted an environment and social impact assessment exercise (ESIA) in readiness for the drilling which is expected to be approved soon.
“Before commencement of actual drilling operations, a series of pre-drilling activities will take place including consultations with host communities and their leaders, as well as seeking regulatory approvals from Government agencies including the National Environmental Management Authority (NEMA),” said Mr Gerrits.
The exploration well is expected to test if there are commercial quantities of hydrocarbons in the area.
“We have conducted seismic surveys and indentified a number of leads including the proposed Lekep-A well. Results as well as data collected from this exploration well are expected to provide further information for future drilling programs,” added Mr Gerrits.
The well is among exploration activities that the company said yesterday it would continue in Uganda and Kenya licenses which it considers high-impact, low-cost exploration acreage.
Remember that several times has had ERHC news after 3 day weekend. Let's see what Tuesday brings.
Please post any replies from Dan that you receive.
Tullow Oil cuts exploration capital expenditure by 80% in 2015 following oil price drop
JANUARY 15, 2015 BY SAMUEL KAMAU MBOTE
Tullow Oil has said it will be shrinking its 2015 exploration expenditure capital to just $200 million from $1 billion in 2014 as it takes steps to strengthen the business to adapt to current market conditions.
The company that has exploration and production licenses in West and East Africa adds it will further carry out a review of the business to streamline processes and improve efficiencies which will result in significant long-term cost savings.
The update corresponds with rumors of planned job cuts this week as the company cuts down on expenditure.
The exploration programme Tullow adds will predominately focus on a number of high-impact, low-cost exploration opportunities in East Africa where it has licenses in Kenya and Uganda.
“While this is a challenging time for our sector, Tullow is fortunate to benefit from world-class, low-cost and high-margin assets, strong and growing cash flows and a broad, diversified funding position,” says Tullow Oil CEO Aidan Heavey.
The capital that has been directed elsewhere according to Aidan will be re-allocated towards production assets and the commercialization of existing discoveries which generate significant value and near-term cash flow for the Group.
The company projects to make a $600 million gross profit in 2014 down from $1.4 billion in the previous year with revenues down $400 million to 2.2bn over the same period.
Meanwhile the company has announced that it continues with South Lokichar Exploration and Appraisal programme with drilling recently completed at the Ngamia-5 and Ngamia-6 wells. In addition, the Amosing wells are being prepared for the first Extended Well Test in Kenya.
Elsewhere in the Lokichar basin results are being awaited from the drilling of Epir-1 while the drilling of Engomo-1 well in the Turkana basin has commenced.
The maiden Lekep-1 well testing the Kerio Valley Basin, is expected to be drilled in the second half of 2015 along with multiple appraisal wells in South Lokichar as work progresses on the East Africa development plan.
Gold stocks down because:
NEW YORK (TheStreet) -- Shares of Gold Fields Ltd. (GFI) are falling by 3.52% to $5.75 in early afternoon trading on Tuesday, as gold stocks slump today following Barclays assessment that the price of the precious metal will test out new lows in 2015, Reuters reports.
The firm is suggesting that gold prices will continue to struggle with a stronger dollar and that the precious metal will be negatively affected by the Fed's first interest rate increase in nine years.
Barclays has estimated that gold prices will average $1,170 per ounce in 2015, a decrease from its previous forecast of $1,150 per ounce. For 2016 Barclays sees the price of gold at $1,150 an ounce, Reuters added.
Thanks for the info. I can't imagine why this post would have been deleted.
HDY?
Did the company say this or is this your opinion?
management ,after careful analysis, has determined that 1) convertible financing , as harmful as it is, will not see the company through, given the recent emergence of the recession of oil prices.
Therefore, in an effort to increase the likelihood of company survival. has decided to open any and all opportunities for any form of sale of any asset....in a extremely weak position,thereby yielding a weak proposal and weak acquisition of cash.
Would it be possible to e-mail your buys/sells on the portfolio like you do your alerts. Twitter would be nice also.
You had indicated that you were going to post the portfolio and its value weekly. Where can we find that?
As far as raising funds do you think they should they sell off all or part of an asset if possible (JDZ-EEZ-Keyna-Chad). Use more convertible bonds - private placements or try to sell off part f the entire company.
emdyal-midtier - Since you both apparently own the stock what are your opinions on what ERHC should do now other than cut expenses. Please don't tell me what the should or could have done in the past as what's done is done and can't be changed.
What should they do now???
Could you please post the video along with the cost estimate per well for AOI on the other board. Thanks
This is a good video from Africa Oil CEO from last year if you haven't seen it.
I received the same answer form Dan. The funny thing is I never asked about a deal or mentioned one in my question. Hmmmm!
I'm sorry I misinterpreted your post on the other board. You have a lot more than me. Let's hope for good news soon.
Julius. you said on the other board that you have not bought. Do you own any shares of ERHE?
Do you know what this means to ERHC's share of the estimated drilling cost?
Midtier - Why do you say 1B would be a disappointment for ERHC in Kenya when Taipain and Africa Oil both have estimates less than 1B and that doesn't seem to be a disappointment.
Taipan estimates gross mean unrisked recoverable resources of 251 mmboe (Source: Sproule International Limited (1), February 2014) for Badada. The well is planned to be drilled to a total depth of between 3,000 and 4,000 metres to test Tertiary age reservoirs analogous to those in the Lokichar basin where Tullow and Africa Oil have made discoveries with best estimate unrisked gross (2C) contingent resources totaling 616 mmbbls (Africa Oil Corp. Corporate Presentation dated September 2014). The Operator expects drilling to take up to 70 days to complete. MM
My question to you again is that if you feel this negative why are you buying like you indicated last week.
How did that work out for you? You could have bought @ .0085 and easily have sold for a triple.
I think you should send this post to PN.
You correctly predicted the toxic convertible notes. What I don't understand is why you didn't sell some stock at that time or the bounce Friday?
Are you setting up that if management bought that would be a negative. Remember the restriction was only lifted on buying shares not selling.
Nothing specific. Just about Kenyan oil.