I think we need to wait for the actual agreements to be made public. Then it will become more visible, especially with all of the free money/special treatment we're getting.

-ach

we may not need a barge if we can figure out how to harness 1.21 gigawatts and drill with a bolt of lightning. Are there any clock towers in the GoG?

-Ach

I don't know about you guys. But there is something about a lady that digs erhe. My wife totally zones out the minute I broach the subject unless I'm telling her how much its up.

-ach

The thing that bugs me most about Joe's blog is how he has to incorporate his little digs in his "stories" and pat himself on the back.

"as first reported by ME" (because he still gets the hot stories first?), "Mark's reports are usually wrong" blah blah blah.

I don't mind the blog and look at it frequesntly. But I have one thing to say:

MESSAGE TO JOE

you are not in high school anymore. Stop feeling threatened by other reports. No one is out to "scoop you". I would guess no one really cares who gets the story first except you. All ERHE investors care about is that we get the info. In conclusion, I know you feel threatened since Mark started providing news. It makes you feel like your Blog is not as important. But please stop with the little digs. It turns it into a very childish environment.

-ach

fitz,

before you start digging for oil, make sure you sell erhe some preferential rights. They can do the studies for you. We need to work on our proven reserves. Your backyard could help us out. LOL

-ach

ajaxxx,

I like your thought process. I think to get to that point though we need to pump up the proven reserves. Does anyone have a timeframe on when STP is going to start bidding on their EEZ? I don't think we can make it to the 20+ dollar range without solid positions/partnerships in this zone (which I have no doubt we will get). Based on the length of time it took to get through the JDZ process, one can only assume that the STPEEZ will take even longer.

-ach

Mark,

before August is even better. It will give me time to put my kids in private school on SEO's dollar.

-ach

Spec,

Is that first well in August going to be blk 2,3 or 4?

-ach

I've been holding onto this stock for 3 years and have been thinking quite a bit about what happened last year. While I think the major political bs is behind us, I can see quite a bit of waiting still left while the drilling programs are hammered out. We've got quite a bit of news on the horizon right now. But after all of this passes, where does our price go if we have another multiple month period of silence?

-ach

Does anyone have any thoughts on how we expect our price to move after the PSC are signed and revealed, Chevron announces the Obo-1 results and our partners for all the blocks have been hammered out? Do we have our inital surge in price based on all of thhose factors and then wait for our first test well before the next bump up or do you guys think we will gradually keep moving up?

-ach

This is an interesting O&G page with a ton of stats.

http://www.gravmag.com/oil.html


-ach

Ok Stock I'll bite. Let's throw XOM into the equation too. I would have to bet that SEO would prefer to deal with a company already involved in the JDZ. Would anyone else be able to put together a package that is going to be able to compete with those three giants? I'll throw out the question again. If the money is equal, and we get to pick, what company would serve our interests the best in Block 2?

-ach

Any thoughts on who we would rather partner with in Block 2 - Sinopec or Chevron? Obviously Chevron has a leg up on the drilling schedule. If the money offered is equal, is there any reason why we would rather have Sinopec? It seems like they might be subject to more delays based on being tied to the Chinese gov't. Maybe I'm just a greedy capitalist american, but I like Chevron.

-ach

Was EEL involved with ERHE and XOM on the upfront studies? I didn't know they also gained preferential rights in the EEZ.

-ACH

Don't forget the eggs (Humpty) and other assorted animal parts (monkeynutz/trots) for the sharks.

-ach

Here's that Equator Press Release:


US$250 Million Private Placement of Common Shares
February 20, 2006



LONDON, United Kingdom - 20 February 2006, Equator Exploration Ltd. (AIM: EEL.L) ('Equator') is pleased to announce that it has placed 41,050,900 new common shares with institutional investors at a price per share of 350p (US$6.09) for total proceeds of £143.7 million (US$250 million). The shares being issued will be admitted to the London AIM exchange on or about 23 February 2006. Following their issuance, the Company will have 174,878,090 million shares issued and outstanding.

Commenting on the private placement of shares, Wade Cherwayko, Chief Executive Officer of Equator said, 'We are pleased with the continuing support of our existing shareholders and new investors. The funds raised will support the company's aggressive exploration, appraisal and development drilling program for 2006 as well as the possible acquisition of additional exploration acreage.'

For further information, contact:

Wade Cherwayko, Chief Executive Officer +44 (0)20 7235 2555
Philip Dimmock, Chief Operating Officer +44 (0)20 7235 2555
Bobby Morse /James Strong, Buchanan Communications +44 (0)20 7466 5000

Background information:

Equator engages in the exploration and development of oil and gas projects in the highly prospective waters of West Africa. The Company's objective is to build a diversified portfolio of exploration, appraisal and production assets in the region. Equator is currently focusing its efforts in the Gulf of Guinea and recently commenced drilling its first well on OML 122, located offshore Nigeria with Peak Petroleum Industries Nigeria Ltd. The Company has also been allocated an interest in JDZ Block 2 of the Nigeria - Sao Tome & Principe Joint Development Zone. It addition, it has rights to acquire a 100% interest in two blocks of its choice in the territorial waters of Sao Tome & Principe. Equator continues to pursue other exploration opportunities in the Gulf of Guinea.

-ACH

Mark,

I don't deny that. However, it seems like drilling right on the boundary creates a lot of headaches in dealing with the block 2 companies. There has got to be other locations in block one that had similar characteristics. It's a big block. Even if a test in the middles of block 1 doesn't result in as big a field, it would still be all CVX and XOM's oil. This border oil is going to have to be shared. I don't know, maybe there are benefits to getting this problem negotiated and out of the way before the PSC's are signed.

-ACH

I've been following erhe since 2001 and an erhe stockholder since 2003 but never really had any reason to post. I enjoy following you guys every day. I would like to pose this question:

Why did CVX decide to drill right on the border of 1 & 2 for their initial test? They could have drilled anywhere in the block. Could it be they wanted to get a better idea of what was in block 2? Would this have something to do with the PSC delays and the fact that drilling in block one commenced before all of the partners have been solidified in the other blocks?

All speculation

-ACH