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Go Middy Go
In fact Moderators can we get Middy's post on a sticky note for the head of the board?
Just maybe then we won't have to hear this anymore(at least it might slow down those posts,as we all know Middy's concerns .
Most of his concerns are Valid,just the repetition is nauseating.
Also Don't ask and Yee shall not receive.Maybe his contributions will be enlightening in the furure and not annoying enough so we might gleen some DD info instead of the bellyache.
sorry Middy but ...it's getting too oldI wish you the best Middy but I'm not ready for a reply...LOL
Baz
Pete
I don't have the experience you require...lol. Wildcat wells are not drilled for production..and if they didn't drill deep enough and/or were not able to understand clues as might ToTal,then, maybe they were punching holes for another purpose.Maybe they were just trying to hold on to the acreage till ToTal arrives without losing acreage or rights,OR IMHO since AKPO and the partnerships built,ultimately Addax/SNP were/are doing prelimenary legwork for ToTal/SNP partnership without doing too much damage...lol. The Oil patch plugs along at it's own pace..I'm in my 11 th yr with Erhc and back then I thought I was getting in at ground floor...lol..who would have thought 10+ yrs later I could buy in at1/3 the cost ..yikes.(I have averaged down to 2 bits now).
AMHO-wild guess?
I will be known(as will most of us)as "the one" who had enough hindsight with dreams to support his family and theirs... etc...etc.
Alas ..I hope im here to share their joy!!
best to All
Baz
IMHO
We expected far too much from the Addax/Sinopec team and their deep water records as operators.They were under the Gun to get the holes drilled and when they got to TD (in their estimations),they moved on to fullfill their requirements...the option hole was MAYBE ....well we have extra time now that we rushed through our obligatory holes and we have the ship here...and we did suggest to STP that we would try to drill an option slot time permitting...so we did.(STP cannot use that now as ammunition)
It was/is a positive event for ERHC when Total enterd the scene ..to which I believe SNP had figured this scenario out a while back (see AKPO).
I should have done more DD on Addax and Sinopec and their lacking of deep water experience, inlight of such an enormous task with the Geological conditions they faced. In light of how "surprised" they were with what they found physically,just confirms the inexperience of the engineering and technical staff,if they couldn't either drill deeper OR side track down dip for any clues ...HECK....they were already there 5 times! .
IMHO our "World Class" operators were way over their heads.
Even a great hired drilling team requires instruction and orders from the Operators who ..lets face it call the shots.
IMHO...They were way over their heads.
If the JDZ is worth it after ToTal drills Block 1 with all it's expertise,you can bet China will bank roll the Venture.
We wait
Baz
GLTUA
Baz
But we all knew how long it took for Akpo to get to the Production stage with Total (a very qualified ,technically sound experienced company).
We expected far too much from the Addax/Sinopec team and their deep water records as operators.They were under the Gun to get the holes drilled and when they got to TD (in their estimations),they moved on to fullfill their requirements...the option hole was MAYBE ....well we have extra time now that we rushed through our obligatory holes and we have the ship here...and we did suggest to STP that we would try to drill an option slot...so we did.(STP cannot use that now as ammunition)
It was/is a positive event for ERHC when Total enterd the scene ..to which I believe SNP had figured this scenario out a while back.
I should have done more DD on Addax and Sinopec and their lacking of deep water experience,especially in light of how surprised they were with what they found.(seismicly speeking that is)
GLTUA
Baz
yes I agree that I know that.
But ultimately it's up to the investor to make his decisions and adjust his positions along the ride however long that is/was....I could kick myself for not selling in the .90 range....
I can also understand why a company that has acreages of "promise",and is under attack not only by all the various alphabet soup gangs,but it's own shareholders.A company stranded and waiting for time to pass MUST make itself look busy and viable,and not worsen it's own footing by having to explain publicly(hurting itself worse) all the pussy footing it has had to do just to stay alive!
We all did not know how grave our position was back then...by design of the company?(probably).This is a Strange company with a very sketchy background back in the day,working with an awkward set of circumstances they are bound to.
So...I think it would have helped me understand better if I knew the oil patch better back then.
My point about the 15 yrs was that it is looking more and more like there might be some waiting....but I blame myself for not riding free shares and adding during depressed markets with blood in the streets.
I am wiser now ,and if I start making money,a good % is going to go into my pocket.
I wish you good good luck
Baz
I am not happy either but we have no way of knowing yet the time frames as they are just being developed....planning stage.I for 1 am "happier" that we got an extended timeframe up front so we know going in that possibilities exist for an 8 yr program......OR a 2, 3, 4 yr program.
Your rage is a tad short fused due to a tainted history that was more your fault for chosing a 15 yr investment in a penny stock with huge risk/ reward possibilities.
I know your frustration and your family story(heard it here a few times),to which I do empathize.
All I can say is we must adjust our time frames/strategies to fit the company's efforts/survival...not the other way around.
cheers
baz
Troy
To be fair.....you had been assaulting at PN with far more vigor.
I commend Midtier for his stance albeit we have probably had enough of his repetition. My point is that even if you have simmered down......think back at your poisonous daggers thrown at PN. If we truly want Middy to slow his posting down ....maybe stopping to ask of him might be a good start.(Go middy Go).
Most of us are in the red here and civility is lacking while emotions run too high.
This is all my opinion.
I'm still hoping for my payday and my choice is to wait a spell longer.
Good luck to you Troy and All of us here.....On the positive note,at $.115 centivos there is really not much more to lose....LOL... as most here IMHO are down from 10%/25% (minority) up to 80% (majority).
Baz
EEL didn't have free carries in jdz or eez
thank you...but what I actually meant to say is that KROM gives lift to a tired board .....and from both sides(should read many sides)...lol.
I agree with most of what Krom says especially his disclaimers.
keep it up Krom!
Ahhhhh the Possibilities.
Baz
IMHO
#3...lol
Baz---the above may be wrong
thank you sir
is this why Exile is halted ...Oando officially buys 75% stake of Exile's 40% stake in Akepo field?
LOL...
Krom and we are .15 cents U.S.
...Shanghied again RRRRRocky!
I agree
CPC's Largest find in It's 40 years there!...that brings the tone down a tad
Baz
I wonder if P N will be able to speak on the JDZ assets...
from what he told, oil and gas 360,is that the competant person's report for the AIM admission would make the asset assessment public.
why does China not want to release pertenant information about drilling results...is it in their favor to report biogenic methane,which we know,that at deeper depths this methane is condensate/oil/aeogenic.
oct.28/2010 interview
http://b2icontent.irpass.cc/1977%2F115898.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1311706297&Signature=8ni7ZLMcOMUaQ3teeCESbrf8g%2FQ%3D
"In the coming weeks, we expect reports to be completed by the Company’s advisers and independent
experts on the Company and its assets. This will include a “Competent Persons Report,” which will
include an analysis of the Company’s existing portfolio of oil and gas assets conducted by independent
engineering firm Netherland Sewell & Associates. The Competent Persons Report will be made public in
ERHC’s AIM Admission Document."
IMHO
the 50%(if true) would be from CPC's 70% leaving ERHE and CPC both with 35% each.......OR NOT!
Baz
Ya, consortium of theives...lol...
I did not mean that!
baz
Just a thought for us all to smile about....what if there is an overlap of a producing property on our acquired acreage/s.That would be a nice gift through SEO via politicos from Chad,to keep us running then NSAI ,AIM...revenue and a SP we might all be able to stomach...LOL
.....Was a nice dream!.......MO
Baz
I DUNNO
I googled New chad Blocks awarded and every hit was ERHE....maybe the other 50% has not been awarded OR announced yet by the Govt. and ERHE cannot overstep Chad for the announcement..MO
there are possible reasons for the unknown.
Baz
after 10+ yrs I have earned my dreams.Ha!...not even "the Dog" can take them away.
We have no money for deals....we must be an arm of SNP and when we have garnered enough properties with our African influence then that will be the time to go the way of Addax.
I would hope that at that time we will have been valued much higher and then hope for a 30-50% premium for buy out.
I could live with that...but hopefully won't accept under $8.00/share.
Baz
Leslie Blair
not sure about contract details..lol..
TamTam....maybe we should advertise the names of our recent hires and recent board member in the IBOX close to the top or a post it note on message board .
GLTUA
Baz
this is true Mid,but, they have made some good hires lately with oil experience and a board member who is also oilman so maybe new leaf has flipped(not like our usual bird!).
IMHO what you are missing is that we can;t possibly be doing this on our own....I just hope we will not be stonewalled/shanghied with the details,as we were gagged before with JDZ contracts.
Now because we can't possibly be doing this on our own, the good news is that we already have partners to announce with more PRs to follow.
Baz
Badog
If it's the only choice that is made for us then no debate.If we get bought out no debate.If we stayed carried for all costs with a 5% royalty across our blocks then we probably wont have a say.This is all JDZ related.Tons of Ifs and Buts.
keep pounding away
Baz
P.S. most here are longs.....just who do you think you are trying to confuse with covert negative posts.
I hope you make lots of money here,but just what is your mission here, to clutter the board with useless scenarios of negativism?
Good luck with that!
edit: yes Badog the Sinopec web site stated that the well gains a commercial status...why dont you just use google like most here and vanish for a while while you catch up to speed.
GLTUIT
Badog
I cannot reply privately...and you didn't have to private me ..you are sounding desperate to convince me of doubt.....well don't worry I have doubts...but,,,
I'm here for the assets ...yes it's a gamble I CHOSE!
Why can't you see I dont need your help to convince me to doubt...
I'm there!
I committed to hold and trade a portion along the way..I have time to wait for the outcome and hopefully make some bones on the ride ( UP )
Baz
"How do you suppose that Total would play a role in blocks 2-4? To become a partner Total will want something IMHO...in fact they will want alot IMHO. So what will they want?...and where will it come from? And what would this mean for ERHE?
If SNP is not technically capable of finding oil and developing these blocks...then who is in the drivers seat...and what will that mean for ERHE?
Some say that SNP is not being truthful about the results of drilling. Some seem to think that there is a smoke and mirrors...cloak and daggar...conspiracy going on against ERHE.
What is the truth? How would we know? Clues only take you so far...and lead to all sorts of senerios. Do the extensions mean that the reports of only gas are true? Or do they mean that SNP found oil but just wants the extra time to look for more clues from Total's findings in Block 1? Or that SNP is over thier head on this one and wants to see if Total decides to develop block 1 and then see if Total will take a look at blocks 2-4? Or that SNP wants to discourage ERHE with a very long time frame in order to buy ERHE out on the cheap?...or wait for ERHE to go broke on their own? Would SNP prefer to replace a 'free ride' parner with a 'no ride' parner?...A 'no ride' parner that might be able to actually find some oil...develop the blocks...and transfer the oil to shore?
If SNP cannot discover, develop, and transfer on thier own then SNP would have to offer Total enough to make it worth their efforts...and where would that come from? And who is in the drivers seat in this senerio?
We all have our own ideas...but no one can prove them."
Badog
Badog
you are playing or you haven't heard that China and ToTal are partnering about the globe.China has bankroll and ToTal expertise and are a tad rouguish as to how and where they operate as their head and chief attests to.Do you think ToTal could fund all it's projects without china?
I'll await your DD on this and TOTALS chief ...look him up for interviews.
We will chat later good luck
Baz
true for the most part except for possibly,matters outside of the JDZ,such as EEZ, AIM, Bidding for Marginal properties,and buying into EXCILE.There are matters outside of the JDZ that just don't seem to be shed in a positive light(by ERHC).
best of luck
Baz
Still holding for the assets.
dest:
I think KROM has the handle on that time frame!
best to you
Baz
It's a waiting game v/s survival.This wasn't supposed to take this long for selling ERHE....but as we had to settle for ADDAX and SINOPEC as our partners,and their deep water inexperience, there has been a set back.
Baz
dat
the question is how do we interpret this news...do we go individual for companies or do we look to the commas as a clue to joint bids...JMHO(observance as ERHE could not bid on their own).
Baz
Krom:
LOL...even that post ends with a disclaimer.
Baz
IMHO they are talking about Block 1 for 2014....still progress but Block 2 is likely next proximity wise.......and TOTAL would need to be involved so who knows how far out "WE" are for "OUR" oil.
IMO...surely the SP would appreciate with production and news comming from JDZ significant progress.
GLTA
Baz
umbra:
also they are not in a carry position and 4% of aprox 3 to 400 million is 12 to 20 million for their shot ...but sub-commercial financialy doesn't encourage their investment in their position in block 3.
Baz
Krom:
Akpo took 10 yrs to production which is part of phase 3 I reckon.
IMHO if a consotium is made and the JDZ truly is developes as 1 or several fields then relinquishment will not make sense.If 1 block is concerened with few structures far apart then reliquishment makes more sense as then the country's leased property is given back ,possibly for swifter development,or indigenous initiatives.
Baz
Hyde
The 2015 date is/was supposed to be for production.(I know that might seem a joke now ) but ,this was in print as an estimation.Production would mean several wells being drilled prior to.Surely you dont think the share price will remain this low with announcements along the way leading into production.
SP appreciation is what "we" are after,most likely,then sell at your price.I see very few here willing to stay with ERHC after all the BS and lack of good business judgement.
AIMHO
Baz
Krom
just print a retraction ...its done all the time in the market.
Baz