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hey red waiting aproval from the hunters
baz
TOB...GETS a NO REPLY,it's already working Thank you all for helping EOM.
TOB:
Look even a lowly retired city worker can see the difference of the no risk scenarios.
Stop cluttering up the board please...
Krom you are doing admiral business here,but you should be smarter than you are by being sucked in wiith TOB's tactics to clutter the board.Notice who he chose to agitate IMHO.
Bashing comes in all shapes and sizes...
Be well you guys ...but TOB....some of us are on to your behavior....IMHO
Baz
EDIT: both of you just signed up for full membership ...maybe use it for private messaging....imo...most here are tired of the risk/no risk thread...sorry Im in it...LOL
TOB:
IMHO.....most likely those holes were wet with Gas.
I recall the Operator allowing ERHC to report that the initial findings were a surprize to Them.If there was either Nothing ,or Just Biogenic Gas acrosss all blocks,would this be the surprize?.
One would probably assume that if there was Gas present and surprisingly so,that not 100% of this was Biogenic,as only 2-3 zones of sands were reported out of 8 or so.To me these results are extremely inconclusive and (could drive away players)if they are only reporting 2-3 zones of Bio Gas,maybe their hope is to discourage other players enough to leave before March madness and drilling results.
Total doesn't want Bio Gas....Tullow will not want it either if that is all that is announced.
Hopefully we will not be surprised by the announcements as most of us are hanging here for the BIG REVEAL like assets.
Baz
Good luck on your trades...we need volume.
I know this Tullow thingy is about EEZ.
emdyal:
Another option is that they were deceiving (IMHO) possibly with the NSAI report that was never ever going to be updated by ERHC,as they wait for the Drilling results or Phase 11 announcements.
Still long ...but saturated
Baz
Red
IF this is true
I would be able to let some ride for free for the 14-20$ SP...LOL...
The rest will multi million me so ...because I bought the original ERHC "no parking sign" from Walldog(where is he now?),I shall keep my thumb in the pie till it has come to an end.
Best to you Red
Baz
Middy:
Thanks you are right I stand corrected.....sometimes it doesn't pay to go from memory and I'm only 58...lol.Kosmos's share was up for sale and purchased by Govt.
Baz
Jim
I think CNOOC has its eyes focused on Tullow and china had made Ghana back away fron Exxon buying tullows share Of jubilee field.
Ghana govt. said they would buy Tullows share instead of exxon..as Ghana had/has the chinese bankrolling them in their OIL exploits.
So...we may well have China as our partner in the EEZ sooner than we think. LOL
Tullow has refused sale and is hanging on in Ghana.
Big Money
Big complications and permiatations.
Stay tuned !
to the Baz cave
GLTUA.....
Krom
I rescind that last post ...lol.
You keep it up guy!
There seems to be references about economic oil in Sao Tome Principe....and by the sounds of it, Block 1 can't (IMO) be the Whole story After 5 wells were drilled over 3 blocks.
Now if you were drilling and found that the structures Geology matched up with your seismics,then after 1 or 2 wells you would know if the penetrated layers were all dry, or wet with water etc.
Assuming they were dry and matched seismics also to Block 1, would you keep drilling or cut bait.If you were encountering Biogenic gas ONLY in more than 1 well and seismics line up...would you not also cut bait?
TOTAL knows what it sees and France is setting up shop on the Islands and are in mega projects within its borders.
I still keep adding up that the info doesnt add up!
10 years and I MUST see what I am invested in, become BORN.
Baz
Krom
I see this as Sao Tome and Principe st.(street ) located in that province.
Maybe the discoveries dictate naming a street after African country?
Baz
Happy New Years to you and ALL the ERHC Family.
johnnie
long time no read
"Ship commissioning, placing a warship in active military duty"
Manuel
Krom
I think he said Addax's drilling team is disbanded....along those lines.I assume that SNP has their own replacements that,in their minds, might do a better job(or Addax's quit).
IMHO SNP is not ready to give up on JDZ....SAO TOME is being courted by French companies,as well as Angola and have won infrastructure contracts for refineries LNG ports Airports etc.
IMHO it's not the time for SNP to throw in the towel but rather to bring in TOTAL and their expertise and develop the territory together.
Globally France and China are tag-teaming....and with a financial partner like no other,I see cigars and courvoisier in their futures together.(after dim sum)
ALL IMO
Baz
Strass
I will miss your "cut the crap"attitude here.
All the best positive wishes to you and your wife and family.
Baz
krom
thanks for your answer.
I hope we acheive year 5 value with a buy-out within 6 months.
after 10+ yrs ...I'll bite at 6 bucks.
Baz
Krom can you put a yearly value of share price based on your figues?
Some would not want to wait for year 10...LOL
thanks
Krom can you put a yearly value of share price based on your figues?
Some would not want to wait for year 10...LOL
thanks
farrel90
If presumed artcles are correct then,at least,we
see that there is action going on behind "OUR" scene,and as far as "WE" know,events are not material just yet.....To be cont'd..
Baz
http://www.scandoil.com/moxie-bm2/financial/stock_news/white-nile-acquires-nigerian-oil-projects.shtml
http://www.wnpoc.com.sd/?page=home
2IRAs
this was from PGS and their seismic program information
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57516933
The JDZ includes the southernmost extent of the outer compressional fold belt of the Niger Delta. The PGS survey shows that the structuring is complex and characterised by large distal toethrusts trending northwest-southeast, terminating toward the southern part of the 3D survey against thrusts that trend more east-west. The toe-thrusts are relatively recent features that deform thick sedimentary successions of Oligocene- Pliocene age.
The survey data show excellent seismic facies resolution of numerous turbidite channel systems within the Agbada formation equivalent. Analogues of theses facies can be seen in present day channels observed traversing the JDZ area. Direct hydrocarbon indicators (DHI) are also numerous and will help define potential hydrocarbon accumulations.
Ninety percent of deepwater hydrocarbons found to date in the Niger Delta have been trapped within turbidite sandstones. In addition, two-thirds of deepwater reserves in the delta have been found in traps with a stratigraphic component. Although large structures are currently being drilled in the region, they more often that not have a stratigraphic overprint. Explorationists need to understand the often-complex relationship between the turbidite systems, and the structuring observed.
http://www.pgs.com/Geophysical-Services/Technical_Library/Acquisition/West_African_Prospectivity/
thanks seek
Baz
It would seem that going with "THE FAMILY IR" is not the way to go as "they know nothing"(bumbling bunch of schultzs).
I will also go the S H route for info ..maybe some clarity.
Regards Baz
ERHC
Eh Relax Hydrocarbons Comming!!
As If
I'm still in the buying mood though
BAZ
Majic
If we stay at .22-.25 for another year,they probably wont have to do any more placements....LOL
Seek...IMO that would only happen by coincidence...like a coin toss 50/50, as I realy don't think they mean it. I believe management is playing puppetry with the common small shareholder,regarding factual information and not just forward looking statements.
Morality,as it pertains too "Family"in our case is obscene,and this comes from the top down.
Let's not forget how god fearing our CEO is.
Surely he would have morals and treat his "Family" fairly.
This is a Greed play from all angles (including ours).
the difference is,over the years most of us learned that Ducks don't lay golden eggs.
Hey who knows things might work out real sweet....but PN for "god's sake" have some morals and start telling us the truth.
Sheesh ..and soon to be christmas!!!!Yikes!!!!
Baz
am I being paranoid?
Seasons Greatings to all especially ERHC management...FOR CHRIST SAKE!!!!!
majic
dont you think expansion is quite passe'with this company ...OR are you still ABLE to give them the benifit of the doubt.
If so...you are in dwindling company.
be well
baz
TOB
Simple IMO ...the reason IS that since, (benifit of the doubt) 2006, this is just another example of the company's inability to get anything right except keep itself alive!. This we are shown with their brilliant strategies.Now I know this is huge in SEO's eyes as (IMHO) I suppose, there are many payoffs comming to those that helped him set ERHC up to make it to production.
BUT
Here is the chink along that road.It isn't moral to make claims for the past 5+ years as a PUBLIC COMPANY and present this BS as FACT....TO YOUR OWN SHAREHOLDERS!
So this is where you see that investors who believe/d in their company ...not as just a trade...are frustrated and more important TIRED OF BEING LIED TO.
Sincerely
Baz
still here acumulating as I can
rider: ya ya Safe harbor...yada yada yada
Krom...the 60 mil or 90 mil is only till all costs are recovered from cost oil.
I think this was discussed before to be aprox 1-3 yr payback,so,22 yr life of project minus 3 yrs then costs covered by profit oil.WE HOPE,at that point, there is Profit for shareholders...LOL..or significant apreciation in SP so Passengers can start to disembark.
Baz
Umbra:
shoot this olde Kanuk,but,as I remember it ...
100% recovery from cost oil till payback.
50-80% ? of profit oil ..till payback.
figures seem different through the side mirrors!
enjoy the day
Baz
sneak:
that is true for Methane..but ..what about all the other condensates available per barrel.Some condensates are worth more than oil per weight.SO until we know what we have,any values assumed here are so far imposible to determine.LOL
Back to square 1
Baz
EDIT: Bayfish already covered this
Strass:
That begs the Question then ...how much information is ERHC sitting on?
Baz
Strass ,I know that it's hard to read my posts....but I guess what I meant in a nutshell about minnows is****MO**
Armed with Akpo knowledge...SNP...did not have to drill to oil to be satified that they had Akpo like results with Condensates.
Now it appears IMHO, none of the smaller companies ...except for SNP/ADDAX know the final numbers and their commulative values.
Yes they got drilling results like we did with... Gralla ...on deck..but they were not worked over or produced as such for consumption.
Baz
Krom:
IMO...its possible that the operators drilling strategy from the start was in consultation with ToTal OR from knowledge garnered from AKPO participation.If THEY knew relative to AKPO where to drill the structures for the most telling signs(Condensates)of which was to be confirmed by drilling,(without the need to hit the oil that they know must be there to mimmic AKPOS components),then They could starve out minnows by playing the "only hit Gas" line.
The development costs will be enormous ...too much for the little guys to carry costs.We are soon to be useless to the JDZ and EEZ as far as any usefull contributions going forward.
Once the EEZ is straightened out and all other issues taken care of ...maybe even block 5+6,then what need is there for US to exist.
From Then on any other "Offor" deals would be with better TERMS for a LCV...and he is no stranger to that.(even if they have to be shells)..LOL
This stock from 2001 was always about monetizing the assets after parlaying them as many times as possible till final sale.
All IMHO
If we are going to be sold then surely there must be events and information required to be released.
There are still some stubborn ducks to cue up.
Hope it's no firing squad...sheesh
LONG & Pregnant
Baz
fmi81
OH Great!!! A partner whose shares are worth .009 cents...Bring them on!!
Hope you know something we don't...Nice Spam
Baz
Farrel:
Another very important reason is for STP to skirt the issue of not having 1 company own more than 1 outright block in each of the 2 bid zones.It was said before,that SNP TOTAL,SaSol,Petrobas,or whomever can now buy-in to any block,as an example, up to 99% if that was possible,but, not 100%.
So IF..IF..any Major parnerships happen with buy-ins..then the majors can own %'s in all or any blocks throughout the EEZ.STP skirted the transperancy issue to make it a non-issue.
Politicians are always good at scheming..Now STP has made the EEZ available to the highest bidders for acreage.
Is it now an even playing field with war chests?...
IMHO...HALE NO!!
Helo Consortium of joint collusion between STP SNP TOT ...perhaps Sasol,Petrobus.
This may be the best way for STP to fasttrack through stategical partners.
Baz
deadeyeca.
Indigenous to where is the question.
Australia
Angola
Nigeria
Sao Tome
south africa
Bottom line ...IMHO...there is going to be a cancelation of qualified bidders and continuation of bid round through appointment of Winners of a few blocks....remainders can always be chucked back in to round 2.
Been there Done that! Good Luck
Baz
The list of companies submitting bids includes Nigerian firms Oranto Petroleum and Overt Energy, Angola’s Groupo Gema, Sao Tome’s own O.G. Engineering, Force Petroleum from Australia, and independent oil explorer Afex Global.
In the event of PSC's to be signed.They needed that office and it's associated expenses now?
IMHO something is going on that I will wait out for.
Everything seems to point towards SAO TOME having resouces in Hydrocarbons...LOLOLOL...except for the BIDDERS in this first auction round for the STP EEZ.
The quality of bidders look quite conspicuous,and this doesnt match up with Totals and other French company interests here.
IMHO..somewhere down the line we will see STP recognize China and hence drop Taiwan from the list.
All in due course.
all my opinion.
Baz
Balance thinking of you...I just dont have my links(ducks)in a row saved or handy.
to all Happy and Healthy Holidays
Especially to you Balance.
TheDane:
"The relevant petroleum regulations of São Tomé & Príncipe require PSCs to be signed by companies registered in São Tomé & Príncipe or foreign companies through São Tomé & Príncipe incorporated subsidiaries."
IMHO
that is a tad comical....but....
here is a teaser that might be a clue for us to chew on VIA ERHC our company's statements.
OR
they are just interested in spending money for nothing!
Lawyers especially,dont like spending money,but,rather charging for services.(I guess Chrome will have free tenancy here too!! right PONZI ?).
Here's to Chewing!...SKOAL!
"The relevant petroleum regulations of São Tomé & Príncipe require PSCs to be signed by companies registered in São Tomé & Príncipe or foreign companies through São Tomé & Príncipe incorporated subsidiaries."...SAME ARTICLE...maybe more meat.
Krom
By JDZ example...STP can cancel bidding round and then reopen mini bid round and awards to Accepted Consortia.STP is in a begging position it seems where as Nigeria is in a position of the Rationer.
From what we have seen with Sao Tome...they will be starved out as they bargain from weekness.
IMHO..the Govt of STP should have hired an acomplished land driller and poke a few holes around the islands...hey be transparent and spend world monies on development and exploration.There is nothing like having pre aproved prospectivity for the region confirmed by drill bit.
They had the time for all this....even NNPC of Nigeria may have helped them....and they wonder why they can't garner high bids or Major Companies.
I still think that events are happening secretly...but geez STP,lets all get obese from greenery rather than a giant sugar rush.
Baz
Mid
I agree that your scenario is 1 possibility...and since there was an extention on the bidding round ...maybe the private negotiations were also extended so as to work out the details of bringing in ToTal SNP SASOL Petrobas.
IF (if)...there are govt deals being worked on,then the declaration of bids being rejected IMHO would first be announced (lol) for transparency...before "other deals" might be announced.
I think ..YES ...the bidders didnt look ABLE/(real?)..lol...and that alone casts a negative light on the prospectivity,OR,like before..the BIG OIL Companies see that China and Area wise, ToTal,(and what other partners allowed in)will be in control of the JDZ EEZ.
All news points to France getting Ultra cozy with Sao Tome..I dont't think its for the chocolate(Swiss right next door).There is always a killin to be made in Tourism...get in on the ground floor work your way up...lol.
Just Maybe the resources justify (to big business),the monies spent on deep water ports/airports.
IMHO...there is only 1 answer ...Commeciality of the Hydrocarbon resources,in a big way,or its just not worth it!!
Baz
topshelf
seems nothing can be counted on EXCEPT for SILENCE and assumptions.
This seems to be the path that our company has chosen.
good luck
Baz
Jim
It all depends on STP's new oil legislation.
They were going to allow for direct negotiations with OIL COMPANIES if the bid submissions were not acceptible to the process IE: Fast track and technicaly viable oil companies that A- have coinage B_ have expertise.
IMHO Now comes the direct negotiations with ToTal, SNP, Petrobas, Sonagol ....OR....those companies buy their blocks through aquisition/farm in with EEL or ERHC.
STP is ready !!!!
All IMHO
Baz
P.S. Ponzi this should answer your question so you can relax now and buy more!