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I think the only one that would sell 2.5M at this price are the convertible note holders who probably converted at about .015 or lower.
What to look out for in Kenya’s oil and gas sector in January 2015
JANUARY 5, 2015 BY SAMUEL KAMAU MBOTE
2015 continues to look promising for the oil and gas sector in Kenya with various planned projects expected to continue while new companies will begin work in the various acreages.
In our radar this January is the planned Badada-1 well in Block 9 located in the Anza basin which is expected to spud with the drilling contracts already awarded to Greatwall which will operate the GW-190 land rig while Aberdeen-based Norwell Engineering will manage the drilling operations.
Also expected this month (January 15th) is an update by joint partners Tullow Oil and Africa Oil in Blocks 10BB and 13T. In focus will be the results from the drilling of Engomo-1 wildcat well location the first test of the North Turkana Basin and results from the Ngamia-5 appraisal well which will help assess reservoir connectivity in the Ngamia field which has been the largest oil discovery to date in the South Lokichar Basin.
Also expected in the updates are the results on the Extended Well Testing in Amosing oil field where production and injection interference testing, involving the Amosing-1 and 2A wells, was to be carried out to help provide dynamic flow characterization of the Amosing stacked reservoirs.
On the seismic front various companies are expected to acquire data in various blocks with CAMAC Energy expected to acquire 2D seismic in blocks Block L1B onshore Kenya, and Block L16 partly onshore and partly offshore Kenya having already awarded contracts to BGP Kenya Limited and Polaris Seismic International Limited respectively.
Results are also expected in Q1 on the 3D seismic survey carried out in the Ekowasan area in Block 10BB in the South Lokichar Basin with acquisition expected to have been complete in December last year. Once the data is interpreted follow up drilling will target better developed reservoir expected between Amosing-1 and Ekosowan-1, further away from the faulting at the basin margin.
In January Australian explorer Far Ltd is also expected to announce an update on farm-out negotiations in Block L6 with the announcement having been expected in Q4 2015.
Simba Energy has also announced it expects to sign a contract and commence the initial 2D seismic program of up to 400Km in Block 2A in the Q1 of 2015 designed to target drilling locations on prospects and leads in two basins, and also yield volumetrics that will support revised resource estimates.
What to look out for in Kenya’s oil and gas sector in January 2015
JANUARY 5, 2015 BY SAMUEL KAMAU MBOTE
2015 continues to look promising for the oil and gas sector in Kenya with various planned projects expected to continue while new companies will begin work in the various acreages.
In our radar this January is the planned Badada-1 well in Block 9 located in the Anza basin which is expected to spud with the drilling contracts already awarded to Greatwall which will operate the GW-190 land rig while Aberdeen-based Norwell Engineering will manage the drilling operations.
Also expected this month (January 15th) is an update by joint partners Tullow Oil and Africa Oil in Blocks 10BB and 13T. In focus will be the results from the drilling of Engomo-1 wildcat well location the first test of the North Turkana Basin and results from the Ngamia-5 appraisal well which will help assess reservoir connectivity in the Ngamia field which has been the largest oil discovery to date in the South Lokichar Basin.
Also expected in the updates are the results on the Extended Well Testing in Amosing oil field where production and injection interference testing, involving the Amosing-1 and 2A wells, was to be carried out to help provide dynamic flow characterization of the Amosing stacked reservoirs.
On the seismic front various companies are expected to acquire data in various blocks with CAMAC Energy expected to acquire 2D seismic in blocks Block L1B onshore Kenya, and Block L16 partly onshore and partly offshore Kenya having already awarded contracts to BGP Kenya Limited and Polaris Seismic International Limited respectively.
Results are also expected in Q1 on the 3D seismic survey carried out in the Ekowasan area in Block 10BB in the South Lokichar Basin with acquisition expected to have been complete in December last year. Once the data is interpreted follow up drilling will target better developed reservoir expected between Amosing-1 and Ekosowan-1, further away from the faulting at the basin margin.
In January Australian explorer Far Ltd is also expected to announce an update on farm-out negotiations in Block L6 with the announcement having been expected in Q4 2015.
Simba Energy has also announced it expects to sign a contract and commence the initial 2D seismic program of up to 400Km in Block 2A in the Q1 of 2015 designed to target drilling locations on prospects and leads in two basins, and also yield volumetrics that will support revised resource estimates.
Can some please tell where It says the Cespa will only carry ERHC for a maximum of 20M. Thank you.
Other boards are also picking up on ERHE. From Momo's Breakout Board:
ERHE is the ticker folks- loading up ahead of next week $$$$ 2-3 fold gains and everyone wants in before the close
Thanks AF. Looks good.
It seems strange that you now say you were buying while constantly posting negative things about the stock and management
Corrected - One stock picker has ERHC #1 on his watch list.
Watchlist for 1/1/15.... $ERHE $OXIS $BLUU $ADMT $GLLA $CGRW $CCNI $GV $ACLS $TRGT $TVIX
what is you goal for the $3000 portfolio by end of year?
$3000 = ????
One stock picker has ERHC $1 on his watch list.
Watchlist for 1/1/15.... $ERHE $OXIS $BLUU $ADMT $GLLA $CGRW $CCNI $GV $ACLS $TRGT $TVIX
Could you post your buys/sells to the portfolio as you make them. Also try to keep in mind a $3000 account is subject to the PDT rule.
The 10K is thru Sep 30. Wasn't the MOU after that date. If so would be in the next 10K. Am I correct?
If I remember correctly you invested about $37,500 into the Rights offering. At .075 that't 500000 shares. So unless you sold some you must have north of 2M shares. You could average that down (500000) for a measley 7k now.
Swala Energy Receives Funding for Exploration in its East African Acreage
DECEMBER 29, 2014 BY SAMUEL KAMAU MBOTE
Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company’s ASX Announcement in mid December.
Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per tranche is available at Swala’s request and may be drawn down every 40 calendar days under the Facility up to US$2,250,000.
The Company also confirms that it has raised AU $75,000 from private investors for the issue of 543,475 fully paid ordinary shares.
The purpose of the issue according to Swala will be to fund additional near term work on the Company’s licences in Kenya and Tanzania and general working capital.
In particular to be used for additional work (particularly in Block 12B), basin modeling work and long-lead items for drilling in Tanzania, business development and general administrative expenditure.
Among drilling set for 2015 includes a well in block 12B where the company has identified a series of ten leads and prospects from which one (‘Ahero –“A”’) has been selected as a drilling target to be drilled in the second calendar half.
In Tanzania the company is in the process of interpreting data from a 200 km 2D seismic acquired over the Moshi Basin in the Pangani licence with preliminary interpretation of these new data allowing it to identify a number of potential structural leads which, after final processing of the field data, are expected to define potential targets for a 2015 drilling programme.
Swala has a 29.2% net participating interest in the Pangani license, 29.2% net participating interest in the Kilosa-Kilombero license both in Tanzania and a 25% net participating interest in Kenya’s Block 12B.
Swala Energy Receives Funding for Exploration in its East African Acreage
DECEMBER 29, 2014 BY SAMUEL KAMAU MBOTE
Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company’s ASX Announcement in mid December.
Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per tranche is available at Swala’s request and may be drawn down every 40 calendar days under the Facility up to US$2,250,000.
The Company also confirms that it has raised AU $75,000 from private investors for the issue of 543,475 fully paid ordinary shares.
The purpose of the issue according to Swala will be to fund additional near term work on the Company’s licences in Kenya and Tanzania and general working capital.
In particular to be used for additional work (particularly in Block 12B), basin modeling work and long-lead items for drilling in Tanzania, business development and general administrative expenditure.
Among drilling set for 2015 includes a well in block 12B where the company has identified a series of ten leads and prospects from which one (‘Ahero –“A”’) has been selected as a drilling target to be drilled in the second calendar half.
In Tanzania the company is in the process of interpreting data from a 200 km 2D seismic acquired over the Moshi Basin in the Pangani licence with preliminary interpretation of these new data allowing it to identify a number of potential structural leads which, after final processing of the field data, are expected to define potential targets for a 2015 drilling programme.
Swala has a 29.2% net participating interest in the Pangani license, 29.2% net participating interest in the Kilosa-Kilombero license both in Tanzania and a 25% net participating interest in Kenya’s Block 12B.
Pntephe@erhc.com
Send this message to PN. Does no good to post it here.
I also emailed Peter. Everyone should do that.
Please define a substantial number of shares. How many shares would you expect management to buy. Without an expectation any amount managemeny buys someone will say that's just a token amount. Would you consider a substantial amount 5M 25M 100M?
PN bought 356K in the rights offering @.075 and about 170k in 2011 -2012 above .12. Other officers and directors participated in the rights offering @.075. Maybe that's not a lot but it does show confidence. We will know what the insiders purchase now when the form 4's are filed.
16/12/2014
AFRICA ENERGY INTELLIGENCE N°736
CHAD/KENYA
Deloitte consultant to revive ERHC Energy's fortunes
Hit by the drop in the oil price, ERHC Energy is in dire need of a makeover. [205 words] [€5,2]
MENTIONED IN THIS ARTICLE: ERHC Energy Inc | Peter Ntephe | Deloitte Corporate Finance LLC | Thomas Sloop | Pace Global Energy | Siemens Corporation | Morgan Stanley & Co | Barclays Capital ? See the 9 keywords
The insiders PN and others have bought shares at much higher prices than today's. Check the form 4's.
We won't know if management is buying and at what price until a Form 4 is filed
I believe Friday the 26th is a full day not a 1/2 day.
So are you saying that the MM bought the 2.5M shares @ .011 and is still holding them or the MM immediately sold the shares. Either way it seems to me someone bought 2.5M shares @ .011.
Doesn't that also mean someone bought 2.5M @ .011
Next 10Q unless they have to be disclosed sooner.
The 10Q will probably not say anything about the MOU or anything that occurred after September 30.
Gilead Sciences Vs. AbbVie: Surprise! Sovaldi Still Matters
Before investors get too worried that Gilead Sciences' (NASDAQ: GILD ) grapple-hold on hepatitis C market share is coming to an end following the approval of AbbVie's new hepatitis C therapy, they should recognize that there are a number of reasons why AbbVie's (NYSE: ABBV ) Viekira Pak is unlikely to dethrone Gilead Sciences, including the fact that Viekira Pak is only approved for hepatitis C genotype 1 patients and not for patients diagnosed with the other genotypes of the disease.
Big and varied market
Hepatitis C is a big and global disease. There are more than 150 million cases of hepatitis C worldwide, including 1 million cases in Japan, 3 million cases in the United States, and 9 million cases in Europe.
Although the prevalence of hepatitis C is massive, not all patients have the same type of the disease. The categories of hepatitis C range from genotype 1 (which includes both 1a and 1b variations) to genotype 6, and the genotype that is most prevalent varies depending on the region of the world. For example, genotype 1 is most common in the U.S., but genotypes 4 and 5 are most common in emerging nations.
So while genotype 1 accounts for 46.2% of all hepatitis C cases on the planet, that still leaves more than half of all hepatitis C patients being diagnosed with another variation.
That's an important fact to remember as we consider how deeply AbbVie's Viekira Pak could cut into Gilead Sciences' hepatitis C market share this year.
Source: AbbVie
Using these treatments
Like Gilead Sciences' latest hepatitis C drug, Harvoni, AbbVie's Viekira Pak is approved only for use in hepatitis 1 patients -- but in the U.S., those drugs are going to be used in genotype 4 patients as well, where there's some evidence of their success.
According to the latest guidance from the American Association for the Study of Liver Diseases, or AASLD, Harvoni, Viekira Pak, and Sovaldi are recommended for use in genotype 1 and genotype 4 patients, but only Sovaldi is recommended for use in other genotypes.
That means that while Gilead Sciences may have to share some of the market with AbbVie in genotype 1 and 4 patients, it won't lose any market share in other hepatitis C patients.
Reaching emerging markets
In order to reach more hepatitis C patients globally, Gilead Sciences inked a deal this past fall with a slate of generic drug manufacturers to produce generic versions of Sovaldi that could be sold in emerging markets like Africa. Those generic Sovaldis will carry a price tag that is far south of the $84,000 charged in the U.S., but given the sheer size of the patient population in these markets, it should still translate into big money for Gilead Sciences.
Emerging markets will increasingly make up a larger share of Sovaldi scripts, but Sovaldi's standing as the preferred treatment in genotypes 2, 3, 5, and 6 means that it will still bring in money in developed markets, where it commands far higher prices, too.
Shaking out
We'll have to wait for Gilead Sciences' results to see just how much revenue that translates into every quarter for Sovaldi, but given that genotypes 2 and 3 combine for 28% of U.S. hepatitis C patients, it should still mean that Sovaldi is a multi-billion dollar a year therapy. Although the bigger battle for share and dollar value between Gilead Sciences and AbbVie will occur in genotype 1, Gilead Sciences' Sovaldi is likely to maintain its monopoly in other genotypes.
How about ERHC and HDY. Both in Houston, HDY has cash. ERHC is has multiple properties on shore. HDY has deeepwater.
Someone still drilling deep water.
Total begins drilling of its deepest offshore project yet
DECEMBER 22, 2014 BY SAMUEL KAMAU MBOTE
Total has today reached another milestone for the Egina project in Nigeria, as an intensive drilling program got under way.
The company has mobilized two rigs which will be kept busy for a total of 3,000 days, drilling 44 wells in water depths ranging between 1,400 and 1,700 meters.
“This is the deepest offshore project ever operated by Total,” comments Jean-Michel Guy, Executive General Manager of the Egina Project.
The Egina project that targets a production of 200,000 barrels per day will contribute significantly to achieving Total’s 2017 production objectives.
The field infrastructure consists of a subsea production system tied in to a Floating Production Storage and Offloading (FPSO) vessel also has a storage capacity of 2,3 million barrels.
Total adds that Egina also emphasizes Nigerian content with several thousand local jobs expected to be created and extensive local infrastructure (mainly yards) will be upgraded or built, contributing to Nigeria’s sustainable development.
The company adds that the win-win situation should enable Total to productively pursue a partnership that began more than 50 years ago.
Total has 24 percent interest in the project with other partners including CNOOC 45 percent, Petrobras 16 percent and Sapetro 15 percent.
ERHC Energy Inc. Suspends Blackout Policy for Insider Stock Purchases
Insiders Can Buy but Not Sell Shares during Current Blackout Period
HOUSTON, December 22, 2014 – ERHC Energy Inc. (OTCMKTS:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the temporary suspension of the Company's policy that had prohibited insiders from purchasing shares during certain blackout periods. The suspension is as a result of a Board resolution passed at the request of the Company's management.
Since the end of ERHC's fiscal year on September 30, 2014, the Company has been in a blackout period. This happened to coincide with a major upheaval in the international oil industry – an unexpected drop in global oil prices to their lowest level in more than five years. This has significantly reduced the valuations of oil exploration companies, including ERHC.
"The board and management of ERHC felt urgent action was needed to permit insiders the opportunity to show confidence in ERHC and its oil exploration assets," said ERHC President and CEO Dr. Peter Ntephe. "The Company's current valuation appears out of alignment with the fundamental value of its holdings."
The Board only suspended the prohibition on purchasing shares during blackout periods. Still in place is the policy that prohibits employees, consultants, directors and officers of the Company from selling ERHC securities during blackout periods. Insiders will also remain subject to the company's policy and the general rules on insider trading as well as other prohibitions on directors and officers disposing of shares within certain periods after acquisition.
ERHC currently holds a 100 percent interest in Block BDS-2008 in Southern Chad and a carried 35 percent interest in Block 11A in Northwestern Kenya. The Company also has offshore interests in the São Tomé and Príncipe Exclusive Economic Zone (EEZ) and the Nigeria - São Tomé and Príncipe Joint Development Zone (JDZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its stockholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
Cautionary Statement
This press release contains statements concerning ERHC Energy Inc.'s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future stockholders' meetings as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company's ability to exploit its commercial interests in Kenya, Chad, the JDZ and the Exclusive Economic Zone of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company's control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based.
Contact: Dan Keeney, APR
DPK Public Relations
832-467-2904
dan@dpkpr.com
Where did you see that ERHC is due s 2M tax refund. I asked DK about this and he asked the source of this information.
Do you know what's going on with LIQD? Is this a good entry?
IMO they wouldn't have spent the money to file the 10K and 10Q (comming) and get current on NASDAQ if something wasn't in the works.
ERHC Energy Inc. Signs Memorandum of Understanding for São Tomé and Príncipe Exclusive Economic Zone
Grants First Right of Refusal to an IOC for Farm-In of EEZ Block 11 for Six Months
HOUSTON, December 16, 2014 – ERHC Energy Inc. (OTCMKTS:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced the signing of a Memorandum of Understanding (MOU) with an International Operating Company ("IOC") related to Block 11 of the São Tomé and Príncipe Exclusive Economic Zone (EEZ). ERHC currently holds 100 percent interest in the Block.
Under terms of the MOU, ERHC agreed to grant first right of refusal to the IOC for a farm-out of EEZ Block 11 for a period of six months. Under the terms of the MOU, ERHC will keep the identity of the potential partner confidential except and until a definitive farm out is agreed on and entered into.
Until a definitive farm-out agreement is entered into and approved, ERHC continues to operate EEZ Block 11. The work program during the first four-year phase includes re-processing existing data, completing an aeromagnetic survey over the Block and acquiring 2,500 km of 2D seismic data.
EEZ Block 11 totals 8,941 square km, situated directly east of the island of São Tomé and abuts the territorial waters of Gabon. ERHC's preliminary studies on currently available data indicate the possibility of a significant cretaceous play in Block 11 similar to the Jubilee Field offshore Ghana.
In addition to its oil and gas exploration interests in the EEZ, ERHC holds interests in the Republics of Kenya and Chad, and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its stockholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
Cautionary Statement
This press release contains statements concerning ERHC Energy Inc.'s future operating milestones, future drilling operations, the planned exploration and appraisal program, future prospects, future investment opportunities and financing plans, future stockholders' meetings as well as other matters that are not historical facts or information. Such statements are inherently subject to a variety of risks, assumptions and uncertainties that could cause actual results to differ materially from those anticipated, projected, expressed or implied. A discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company's ability to exploit its commercial interests in Kenya, Chad, the JDZ and the Exclusive Economic Zone of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company's control. Given these concerns, investors and analysts should not place undue reliance on these statements. Each of the above statements speaks only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based.
Contact: Dan Keeney, APR
DPK Public Relations
832-467-2904
dan@dpkpr.com
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Do we need an extension? I understood from DK they had until August 2016 to complete the seismic. But they want to get the seismic done as soon as possible to help attract an farm out partner.
IMRS-Will you wait for possible January effect before selling?
Lower volume today and no big seller in last 1/2 hour.
I thought so yesterday. Then a big sell came in the last 1/2 hour of trading. Let's see what the last 1/2 hour does today.