Art-"continue"? LOL eom

Suppose we could also be horse trading with our potential rights in blks 5 and 6.

Tryoty-makes sense but who is to say that they wouldn't give up something now in exchange for something else in the future. Just a thought.

Rail started posting 7/27--didn't just show up yesterday. eom

Stop it-You people are making me reach for a kleenex. eom

Oilphant-If 11 bill is low on blk 1, what in your opinion can we expect to see in blks 2-4?

Thanks!!

Update:
Chevron's US Gulf Jack Field may be largest US discovery

(9/7/2006 - OGI: Houston) Today more details are emerging about the record-breaking well just drilled by Chevron to delineate its Jack discovery in the US Gulf of Mexico's Walker Ridge Block 758.
Aside from its record depth well test - in 7,000 ft water depth and at a total depth of 28,175 ft (8,588 meters) - the Jack-2 appraisal tests, carried out from Transocean's semisubmersible drilling rig Cajun Express, are said to indicate the Jack Field could be the largest oilfield ever found in the United States if the preliminary estimates of as much as 15 billion bbl in oil reserves prove to be true.
It would be the most important discovery since Alaska's Prudhoe Bay Field and could potentially almost double US oil reserves.





Chevron has not yet provides an estimate of the Jack Field's reserves, however, and is saying instead that it will drill another appraisal well next year to fully define the field, but even if the 3 billion bbl low estimate is nearer the field's reserves, it could match Prudhoe Bay in output at approximately 400,000 b/d.
Chevron said the Jack-2 well produced 6,000 b/d on test of light, sweet crude. It indicated full development of the field, which could begin next year after the next appraisal well, may require investment of several billion dollars.


The Cajun Express on Jack-2 wellsite.

The Jack Field was discovered in 2004. Paul Siegele, head of Chevron's deepwater Gulf exploration unit.
Chevron is the operator of Walker Ridge Block 758 and the Jack Field with a 50% working interest. Devon and Statoil each own a 25% working interest.

Click here for earlier report

Sao Tome: Gov't slashing taxes to attract investors, galvanize economy


Sao Tome, Sept. 5 (Lusa) - The government of Sao Tome and Principe is planning to cut income tax by around 15% to attract private investment and re-launch the islands' moribund economy, an official said Tuesday.

Deputy-Prime Minister Maria Tebus Torres, speaking to state Radio National, said the government's tax reduction proposals will shortly be approved in the National Assembly.

The tax slashing move is also expected to include import tariff reductions and other lower customs charges in an attempt by the archipelago's MDFM-PCD coalition executive to curb price hikes in essential goods.

The government also aims to "kick start" certain sectors of the economy by the tax cuts, Radio National reported, particularly tourism through the lowering of fees on the selling and buying of real estate.

RCN/CJB.

Lusa

Fishdog
Maybe a naive question but wouldn't the low sulpher oil in the jdz sell at a higher price per barrel than oil w/high sulpher content?

congrats on predicting cvx is getting 2 drill ships. SO WHAT!!
the issue is where will the ships be going and you have not shown a shred of evidence that they are going to the JDZ. It may very well be that the info isn't available yet so there may be no way for you to validate the info-but then SAY SO!!

Sorry Oilphant, you need to do better than just making assumptions that they contracted the rigs for the JDZ. Even I can do that.

It gives only when official word comes out. not speculation from Oilphant. jmho

JDZ Addax Article--posted yesterday


Multi-billion bbl prospects seen in Nigeria-Sao Tome JDZ block

(9/3/2006 - OGI: Lagos) Addax Petroleum operator of Block 4 of the Nigeria-Sao Tome e Principe Joint Development Zone, is reported today to be putting together the funds from its partners in the concession to charter one or two deepwater drilling rigs to test several prospects.
Sources said the year-long analysis of seismic data acquired over Blocks 2 and 4 indicate the possibility of multi-billion-bbl reserves. Addax has not confirmed this, but has said the 3D seismic survey over Block 4 is encouraging, since it shows the presence of several large structures with the potential to hold significant volumes in reserves.
If the Block 4 consortium can contract a drilling rig capable of drilling in the depths found on the 212,000-acre block - approximately 1,800 to 2,200 meters - it is expected the first exploration well will begin drilling during the second half of next year. It would be the initial well in a three-well commitment for the concession to be drilled during the first phase of the exploration permit.





At the end of May, Chevron Nigeria reported it had discovered a significant new oilfield in its Block 1 of the JDZ, adjacent to Block 4 to the north. Chevron said iits Obo-1 exploration well found at least 150 ft of net hydrocarbon pay in multiple reservoirs and that the reserves could exceed a billion bbl.
Addax is the operator of Block 4 with 38.3% interest in partnership with ERHC Energy (17.7%), Conoil (20%), Hercules and Centurion (10%), and Godsonic Oil & Gas (5%).

Click below for earlier reports:
Addax increases stake in Nigeria-Sao Tome JDZ Block
Chevron reveals Nigeria-Sao Tome JDZ discovery


OGI Homepage I Contact Us

B. Dolphin-nevermind. I'm a little slow. long labor day. eom

BD? eom

ouch!! But I doubt it. eom

LOL Spec. Wishful thinking-Never would happen. eom

LOL Oilphant. BUT still nothing official validating your posts. Whwn will we here about parts 4 and 5 involving ERHC? What are your comments re the structure/potential reserve maps for blks 2-4 that have been posted here.

Thanks

It wouldn't copy and paste, but the article included one of the structure maps for blk 4 that had been posted last week.

JDZ article from Oil and Gas International


Multi-billion bbl prospects seen in Nigeria-Sao Tome JDZ block

(9/3/2006 - OGI: Lagos) Addax Petroleum operator of Block 4 of the Nigeria-Sao Tome e Principe Joint Development Zone, is reported today to be putting together the funds from its partners in the concession to charter one or two deepwater drilling rigs to test several prospects.
Sources said the year-long analysis of seismic data acquired over Blocks 2 and 4 indicate the possibility of multi-billion-bbl reserves. Addax has not confirmed this, but has said the 3D seismic survey over Block 4 is encouraging, since it shows the presence of several large structures with the potential to hold significant volumes in reserves.
If the Block 4 consortium can contract a drilling rig capable of drilling in the depths found on the 212,000-acre block - approximately 1,800 to 2,200 meters - it is expected the first exploration well will begin drilling during the second half of next year. It would be the initial well in a three-well commitment for the concession to be drilled during the first phase of the exploration permit.





At the end of May, Chevron Nigeria reported it had discovered a significant new oilfield in its Block 1 of the JDZ, adjacent to Block 4 to the north. Chevron said iits Obo-1 exploration well found at least 150 ft of net hydrocarbon pay in multiple reservoirs and that the reserves could exceed a billion bbl.
Addax is the operator of Block 4 with 38.3% interest in partnership with ERHC Energy (17.7%), Conoil (20%), Hercules and Centurion (10%), and Godsonic Oil & Gas (5%).

Click below for earlier reports:
Addax increases stake in Nigeria-Sao Tome JDZ Block
Chevron reveals Nigeria-Sao Tome JDZ discovery


OGI Homepage I Contact Us

Look for a small article tomorrow from OGI re search for rigs in blk 4. eom

AGREE!!!!EOM

If it happens I hope it is CVX, BUT, offor will go with the best deal. If you are correct and a buy-out is in the cards in the future, then the negotiating would have to have been completed and I'm not sure how that is possible before any drilling in the subject blocks.

Scuttlebut has been that SNP wanted to take out both AXC and ERHC. Big political football imo in the future.

Balance-thats assuming legal issues b/w ERHC/EEL and other parties re block selections have been ironed out. I doubt they are at this point. But it would be nice.

And you know that because..... Just kidding Umbra. Just boring day at work.

Thanks for the responses. Much appreciated. EOM

Re JDZ Maps posted--just wondering if olks believe these maps are part of the original seimics done by western geoco or are based on more recent follow-up work done in the JDZ.

Can anyone comment on what a "shale diaper" is? eom

Well, hopefully Bill Murray will be there to clean up the mess. eom

I count 6 bill or so using the lower estimates for all 3 blks. I wonder if this info will be released in the near future. Sounds like its from a recent seismic survey.

Fishdog-Thank you for your comments. Obviously you have sources that you cannot reveal, but can you generally describe where your info comes from? Would certainly help to relieve some anxiety around here. If you cn't say anything understood.

Regards,

Doug C

Re 1st oil, I believe someone actually drilled on STP land around 1990-1991 but due to volcanic nature it wasn't feasible.

Spec-totally agree about the arrogance of XOM. XOM also had a shot at buying erhc back in the day but blew that as well. This may go down as 1 of the biggest blunders in the history of oil expoloration.

Re how old the jdz is, only know that STP was a Portuguese colony till independance in I believe 1978.

OILPHANT-You sure know how to get peoples juices flowing. 1.
Re 8/22-are you associating the Barry Morgan article with your prediction as press time was 8/22?

2. Where was the reference to 800' net pay?

3. Have you seen the final CVX OBO report?

4. If so, when will it be made public?

Thanks

Beautiful Jdubs!!! Your 1st? Congrats!!!! EOM

AND, remember that Shell really needs to beef up its reserves after its prior reseves estimate debacle.

Which would also have to mean that rigs have been secured. No proof of that yet. Come on Oily-give us some proof and not just statements from somebody else's article.

Link Please. eom

Pete-Lots of ways to run up the legal bills. More than likely we are paying around $450/hr plus all expenses. An entire team of Partners apparently came down from DC so you have all the travel expenses, hotels, rooms, lattes, danish,....Then they researched and drafted a number of motions and other documents to submit to the court re unsealing the affidavits, and atty/client issues, and return of the 118 boxes, etc...

Then we had lots of meetings with the FBI/DOJ people, which I understand we supplied more lattes and even some of those new tangerine frapacinos I believe. Then some court appearances, and more meetings w/the Feds and with Co officials, and I'm not even figuring in Walters going away bash. Then the lawyers had to fly back home and write some memo's to the file.

Lots of ways to run up bills.