Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What the heck? The reason for no aim listing is "" It involves companies affiliated with ERHC and those companies are, strictly of their own volition "?
What companies?
Indigenous operator’s perspective
Some of the indigenous operators who debated on the subject agreed that the Content Act is the pivot for their recent growth in the industry.
"The Technical Director, ERHC Energy, Mr. Adebanji Babarinde, said," “ERHC attained its current levels of success because of the Nigerian Content Act. The law gave local entrepreneurs the confidence to go into areas hitherto monopolised by multinationals.”
Remarkable success Mr, Barbarinde - we feel the success in our LOSSES !!! What is this guy talking about anyone have a clue?
What areas are utilizing locals concerning ERHC??
http://www.vanguardngr.com/2012/02/nigerian-content-appreciable-success-greater-challenges-still-ahead/
http://www.beg.utexas.edu/indassoc/agl/pubs/Raft.pdf
Repsol-Sinopec makes huge oil discovery off-shore Brazil: 250m boe
Spain's Repsol and China's Sinopec have made an oil discovery offshore Brazil that could be one of the biggest so far in the area and that boosted confidence that across in Africa, Angola's deepwater reserves may be abundant too.
The find also confirmed the potential for finding large oil and gas resources on the other side of the South Atlantic Ocean, in Angola's offshore deepwater blocks, where the Norwegian firm believes it can make billion-barrel discoveries.
These areas were formed millions of years ago when the African and South American continents were still connected.
”This discovery ... improves our confidence in the recently acquired acreage position in the pre-salt Kwanza basin of Angola,” Statoil's head of exploration, Tim Dodson, said in a statement.
http://en.mercopress.com/2012/02/27/repsol-sinopec-makes-huge-oil-discovery-off-shore-brazil-250m-boe
Homeport, I cant find the link anymore, he is in tight with PDP. Maybe someone with paid sub to African intelliegence can find it. Ive seen it.
Maybe Sinopec will announce a huge new drilling campaign with Total in JDZ and EEZ in March. What are the chances?
Why? I dont see an possible reason there.
Deby is buddies with SEO and did him the only favor he had left to give. SEO on his knees!
Chinese invested 55 billion in 2006. Chad has been under Chinese unfluence a long while. I was hoping that they needed SEO to get inside Chad and Deby's buddy SEO was the man. Well that isn't it all. This chad area is the bottom of the barrel stuff obviously. It appears the Chinese dont need anymore leases in Chad obviously.
The whole country is starving ( they outlawed using charcoal) to death and the military takes all the money from what oil is still flowing after they shut down the new refinery.
READ THESE articles... PLEASE.
http://www.nytimes.com/2007/08/13/world/africa/13chinaafrica.html?pagewanted=all
http://oilprice.com/Latest-Energy-News/World-News/Chinese-Refinery-in-Chad-Hits-a-Major-Snag.html
Yeah, sure just like LA .. lol You should read or goggle China and Chad i.e.. 171 out 178 worst corruption. Huge mess.
For example: http://www.africaw.com/major-problems-facing-chad-today
http://www.canadafreepress.com/index.php/article/37317
How they are going to pay for it? That would be an update. Who is going to work in this area without an Army on call? http://www.reuters.com/article/2012/02/13/us-nigeria-bomber-idUSTRE81C1R920120213Call
Lake Chad 12 killed yesterday.
Call SEO's Chrome?
Remarkable!
ERHC Energy Inc. Provides Details on Chad Exploration Program, Sets Record Date
HOUSTON, Feb 14, 2012 (GlobeNewswire via COMTEX) -- ERHC Energy Inc. /quotes/zigman/368946 ERHE -7.14% , a publicly traded American company with oil and gas assets in Sub-Saharan Africa, has provided an update on its activities in the Republic of Chad and announced the record date for determining stockholders entitled to vote at the 2012 Annual Shareholders' Meeting.
During its First Quarter 2012 Conference Call, ERHC offered further details regarding its proposed five-year work program for its three oil and gas blocks in Chad. The work program will commence after an Exclusive Exploration Authorization is awarded and a management committee mutually constituted with the Chadian Ministry of Energy and Petroleum. The management committee will review and approve the work program. Company officials announced plans to focus initially on ERHC's Chari Ouest III Block and then BDS 2008 in that order. Both Blocks are adjacent to each other and overlie aspects of the Doba and Doseo basins, which host Chad's major discoveries.
"Within the first two years of the proposed work program, ERHC expects to complement available data with Gravity/Magnetic studies and a seep study, followed by further 2D seismic acquisition and reprocessing," said Mike Shafie, ERHC's senior geoscientist and technical adviser. "Once leads and prospects are identified, the program calls for acquisition of 3D seismic followed by AVO/Inversion studies. As mandated by the PSC, all technical work will be preceded by an Environmental Impact Assessment (EIA)."
ERHC expects in the coming weeks to invite eligible contractors to submit expressions of interest in providing EIA, gravity/magnetic and seismic acquisition services with respect to the Chari Ouest III and BDS 2008 Blocks in Chad.
The Company also announced that its Board of Directors has established March 26, 2012 as the record date for determining stockholders entitled to vote at the 2012 Annual Shareholders' Meeting to be held in Houston on April 24, 2012. All shareholders of record as of March 26, 2012 will be formally notified of the date, time, venue and business of the meeting as well as of such other matters mandated by law.
ERHC holds oil and gas exploration interests in the Republic of Chad, the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ). In the Republic of Chad, ERHC has 100 percent of the interest in BDS 2008 and Manga. The Company has a 50 percent interest in Chari-Ouest Block 3. In the EEZ, ERHC holds 100 percent working interests in Blocks 4 and 11 with an option to acquire up to 15 percent working interests in two more Blocks. In the JDZ, ERHC holds working interests in Blocks 2, 3, 4, 5, 6 and 9.
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 shareholders, 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 .
The ERHC Energy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11579
HOUSTON (AP) -- From testimony about bribes, blood oaths, faked profits and secret Swiss bank accounts, the ongoing fraud trial of jailed and former jet setting Texas tycoon R. Allen Stanford has had its share of drama.
http://stanfordvictimscoalition.org/7.html
And many of the details about the alleged fraud that prosecutors say bilked investors out of more than $7 billion in one of the largest Ponzi schemes in U.S. history were provided by Stanford's former top money man and the prosecution's star witness, James M. Davis, over more than four days of testimony.
But Stanford's attorneys did their best to tear down Davis and portray him to jurors as a liar, adulterer, tax cheat and the true mastermind of the scheme who has pleaded guilty to three fraud and conspiracy charges as part of a plea deal with prosecutors and will say anything to avoid a lengthy prison term.
While legal experts say Davis' credibility will be important with jurors during their deliberations, a fraud case as complex as this one isn't won or lost with one witness and Stanford's fate remains unclear.
"A trial is very much like a mosaic and the pieces in their entirety show the picture," said Philip Hilder, a Houston criminal defense attorney and former federal prosecutor who's followed the trial. "Mr. Davis' testimony, while key, is not the whole case."
For the last three weeks, federal prosecutors have methodically presented evidence, including testimony from Davis and other ex-workers of Stanford's companies as well as emails, financial statements and other documents, in support of their claims the flamboyant businessman orchestrated a 20-year scheme that took billions from investors through the sale of certificates of deposit, or CDs, from his bank on the Caribbean island nation of Antigua.
Davis, the former chief financial officer of Stanford's companies, portrayed his ex-boss as the leader of the fraud who burned through billions of CD deposits to pay for failing businesses and fund his lavish lifestyle, including a fleet of private jets and yachts.
"The approach prosecutors (are taking) is the standard strategy in building a (fraud) case through documents and bank records and then corroborating that with the testimony of a well-placed insider," said Robert Mintz, a New Jersey-based defense attorney and former federal prosecutor.
Stanford is on trial for 14 counts, including mail and wire fraud, and could be sentenced to more than 20 years in prison if convicted. Stanford was once considered one of the U.S.'s wealthiest people, with an estimated net worth of more than $2 billion. He's been jailed without bond since being indicted in 2009. Prosecutors could wrap up their case by early next week.
Defense attorneys have tried to show the financier was a savvy businessman whose financial empire, headquartered in Houston, was legitimate. They said he was trying to reorganize his businesses to pay back investors when authorities seized his companies.
Stanford's lawyers accused Davis of leading the fraud and stealing millions of depositors' funds. They also questioned his character by highlighting extra marital affairs he's had and income taxes he's failed to pay.
Anthony Sabino, a law professor at St. John's University in New York City, said the defense strategy with Davis is "classic, right out of the playbook."
"The theory is to say to the jury, 'If he lied on his taxes, he's lying you ... if he lied to his wife, he's going to lie to 12 strangers,'" he said.
Testimony from a witness like Davis will be viewed "with a healthy degree of skepticism" by the jury, Mintz said.
Sabino said it's hard to know what weight the jury will give Davis' testimony.
"The prosecution knew it was taking a risk by saying Mr. Davis will be the ultimate insider (to the alleged fraud). If they delivered, it will weigh heavily in their favor," he said.
Hilder said it appears prosecutors have done a good job of keeping their theory simple and not overwhelming jurors with documents and records. Defense attorneys will have to continue doing the opposite because "the more complicated (the trial) is, the easier it is to argue reasonable doubt," he said.
Once the defense begins its case, the question will be whether Stanford will testify, as his attorneys promised during their opening statements.
Sabino and Mintz don't think that's a good idea.
"More often than not, a defendant hurts rather than helps their own case," Mintz said.
Just curious, how does posting a link disclose anything about a persons ID ?
To sum it up ... they are preparing to prepare to commence spending more money flying around to meetings and havent a clue where they are going. But its all just truly remarkable!
Is there a time limit or conditional time limit to ERHC's confidentiality clause with Sinodax? Anyone know or seen the document?
Question is: When do we find out the TRUTH and the plans for JDZ. Lot of us have wasted 10 plus years here.... for what? When is it ERHC's day? There have been just as many reports of oil and company making finds as no oil and only Biogenic gas.....
http://pressrelated.com/press-release-ekulo-cheyenne-at-oml-123-commences-work-for-addax-petroleum.html
Plenty of work and profits for SEO and friends from Addax it seems.
http://www.thechromegroup.net/board-of-directors/
Notice the board of directors move over to the King's Court. Same guy we had.
Ike C. Okpala is the Chief Operating Officer of the Chrome Group. A seasoned investment banker, Mr. Okpala has over 15 years’ experience in the Nigerian banking industry. Prior to joining the Group, Mr. Okpala was the Chief Financial Officer of ERHC Energy Inc, a Houston-based oil exploration company.
also??? Chief Operating Officer of Kaztec Engineering Limited, Ike Okpala
the Chairman of Kaztec Engineering Limited is Sir Emeka Offor,
Just pray they are creating a Chinese designed buy out portfolio, no one else would brave Chad IMO.
Check out "deep pockets" Offor foundation moves...nice.
Sir Emeka Offor Foundation to Bring $7 Million (USD) in School Supplies to Africa
ABUJA, NIGERIA, Oct 31, 2011 (MARKETWIRE via COMTEX) -- The Sir Emeka Offor Foundation ( http://sireofforfoundation.org ), a non-governmental, philanthropic organization focused on youth employment, families, education, healthcare and infrastructure development, today announced the signing of a Memorandum of Understanding (MOU) with Books For Africa ( www.booksforafrica.org/ ). Books For Africa is an American nonprofit organization based in St. Paul, Minnesota and dedicated to collecting, sorting, shipping and distributing books to children and adults in Africa.
The agreement names the Sir Emeka Offor Foundation as Books For Africa's premier distribution partner in Nigeria, paving the way for the shipment of approximately 640,000 books and assorted computers and schools supplies to Africa. The total value of the agreement is estimated at US$7 million.
"Signing this agreement advances a personal commitment to education in Nigeria by supplying books for students and teachers to a significant number of disadvantaged schools across Nigeria," said Sir Emeka Offor, founder of the foundation and chairman of the Chrome Group ( www.thechromegroup.net ), a leading West African oil and gas conglomerate. "Books are the foundation of a strong educational system and I am proud to accomplish this in collaboration with the philanthropic efforts of Books For Africa. I wholeheartedly endorse the mutual goal of helping to improve the book situation in African schools."
Under the agreement, nearly three dozen 40-foot sea containers filled with primary, secondary and university text and library books will be shipped to Nigeria over the next three years.
"The Sir Emeka Offor Foundation is leading the way here in Nigeria with this large book project, the largest single project we have ever undertaken in Nigeria," said Patrick Plonski, Executive Director of Books For Africa. "We commend Sir Emeka Offor for his leadership in helping to advance education across Nigeria, and we look forward to partnering with him."
The shipments will begin immediately and continue through November 2014.
Today's announcement extends and expands the Sir Emeka Offor Foundation's multi-year project to help revitalize education in disadvantaged Nigerian schools. In July 2011, the foundation funded the shipment and distribution of books to more than 200 schools and libraries throughout Nigeria. At the time it was the largest donation by a single benefactor in the history of Books For Africa and the largest-ever donation to Nigeria.
About the Sir Emeka Offor Foundation
The Sir Emeka Offor Foundation is a philanthropic organization based in Oraifite, Anambra State, Nigeria. The Foundation seeks to alleviate the suffering of the less privileged through philanthropy, and focuses primarily on giving support and hope to those in need irrespective of tribe, creed, religion and nation. To date, the foundation has committed more than ?750 million ($4.7 million USD) to charitable projects. For more information, visit http://sireofforfoundation.org or like us at http://www.facebook.com/pages/The-Sir-Emeka-Offor-Foundation/186302151410678 .
Contact:
Val Oji
Chrome Group
Chief Communications Officer
+234 803 719 0145
Email Contact
I dont get it, what's high quality about our assets, are compnaies "chomping at the bit" for our high quality assets?
Remarkable PETER, REMARKABLY unproven!!!
"our existing, high quality portfolio and advance ERHC's evolution into a multi-asset company with both offshore and onshore interests"
Prove it!!
We have made "remarkable progress" for shareholder value if you ask Peter. Everyting is "REMARKABLE".
I will remark and say we havent gotten anywhere slow and its cost us 30 million in cash and billions in capital. Its remarkable SEO hasnt fired them all. Most of us have huge losses and he says its all just remarkable. "Look at all we have acheived!"
These guys are sitting on millions of barrels of oil and trillions cfm of gas in the hottest area on planet Earth and cant get anyone to DRILL!! Its been 700 + days since anyone drilled! These salesman are just walking the floor IMO. Prove me wrong Peter and hurry up please! We are dieing out here. Show us the money!
Chad? Ok, great here is Chads story...
The Power lies firmly in the hands of President Déby and his political party, the Patriotic Salvation Movement. Chad remains plagued by political violence and recurrent attempted coups d'état (see Battle of N'Djamena (2006) and Battle of N'Djamena (2008)).
Chad is one of the poorest and most corrupt countries in the world; most inhabitants live in poverty as subsistence herders and farmers. Since 2003, crude oil has become the country's primary source of export earnings, superseding the traditional cotton industry. Chad is considered a failed state by the Fund for Peace.[3
http://www.washingtonpost.com/world/asia_pacific/oil-interests-push-china-into-sudanese-mire/2011/12/19/gIQANkzGGP_story.html
Sao Tome Founds Commercially Viable Oil in JDZ 1
Source: Reuters 11/30/2011.
Notice: Sao Tome is always releasing positive information. They are talking about production now. Sinopec doesnt want all the majors moving into the JDZ any sooner than they can help IMO.
Sao Tome and Principe authorities said commercially viable oil had been found in a block jointly explored with neighbouring Nigeria. Olegario Tiny, Sao Tome's representative in the joint exploration project with Nigeria, told Reuters ahead of a meeting between the two parties that Total, which runs Block 01 in the joint area, may in three years, "start the effective production process."
"Everything points to the existence of commercially viable oil," Tiny said, adding they are meeting Nigerian authorities and Total to fix practical aspects of managing the blocks.
The small Atlantic archipelago nation sits in Africa's Gulf of Guinea region, which Washington estimates will supply about a quarter of U.S. oil by 2015. Previous exploration results from a separate joint development zone with Nigeria had disappointed.
The joint exploration area between Sao Tome and Principe and Nigeria was reached following a political agreement between the two countries signed in 2001, awarding 60 percent of revenues to Nigeria and 40 for Sao Tome and Principe.
http://www.gulfoilandgas.com/webpro1/Main/NewsList.asp?id=Exploration
Interesting article shows complexities.
http://www.rigzone.com/news/article.asp?a_id=113684
Please dont forget the horses MOUTH said there was a MAJOR find!! What was the wording? Breakthrough, whatever it was, it was a very very positive interpretation then it disappeared ...hmmmm
http://english.sinopec.com/about_sinopec/subsidiaries/oilfields/20080326/3024.shtml
Of course it was edited and deleted as soon as they heard we posted it here.
Seems they are drilling everywhere but ERHC's blocks.
If we dont see a definative committment to a drilling program in the next six months its possible the chinese are simply waiting for us to go broke and or default. We are the 800 lb gorilla. This explains a lot. "Cheap charlie" Chinese dont want to pay 7 billion for a 55 million dollar company.
Logic and past reports says there is plenty of Oil in our current asset holdings.
Come on, you know The Chinese tell them exactly what to say, the have to say something.
Emeka Offor’s ERHC Energy aims to have two production sharing contracts signed in Sao Tome & Principe for blocks 4 and 11 by the end of this month, following hard on the heels of Oranto Petroleum’s signing of Block 3 by fellow Ibo oil moghul Arthur Eze.
Leveraging its pre-eminent position in the Sao Tome-Nigerian Joint Development Zone, ERHC president Peter Ntephe hopes partners across the JDZ will agree to share drillship costs once Total earmarks a unit for its debut well in Block 1 next February.
http://www.upstreamonline.com/hardcopy/features/article290000.ece
old news you may have missed here... http://www.upstreamonline.com/live/article272751.ece
Ntephe VS. Santos
Ask the question... who gets the most heat by saying there was oil found. Who is bound by Chinese gag orders and confidentiality agreements and who isnt. Is Santos just playing the salesman part? Obviously the JDA isnt scared of the Chinese and want to get the word out.
The complete opposite releases.... answers the question,clearly.
Also,Secrecy is part of the game. How many years has it taken to call OBO1 a "discovery" and get it drilled again. Hopefully it will be commercial.
This type of release sounds very familiar to OBO1 post release style, they trickle out postives as they see fit. Bring the drill!
"On Blocks 2-4 he had this to say:
"In B-2 the existence of oil and gas has been confirmed; in B-3 nothing was confirmed; and in B-4 the existence of oil and gas were also confirmed, but there's still the need to verify if the quantities are commercial"."
We have facts? Please share the facts with us, I was of the opinion we are fed riddles and arent allowed to reveal chinese secrets.
I agree Hermit, did anyone ask the question about expenses during the call? Their either crazy-stupid or aren't able to tell us the closely held good news. Well written. They seem to gloat about cost cutting ...lmao. then cry.
"but at the cash burn rate, what is it that will stop us from bleeding to death? That is the part that the company has not communicated. I can go with the *Partners wont let us disclose or the I don't know what our partners are up to*, but that has to be followed with some information on how you are managing the risk. Huge risk is part of this type of company. Risk management is what the leaders are being paid for and so far there is nothing coming out that even hints at a rational plan that manages *some* of the risk."
They still havent given us any reason for 4 out of the 5 wells that were drilled in jdz were 800 to 1100 meters shallower than OBO 1 or any other wells in the area.(ie opl245)
"2011 has been another landmark year in the remarkable history of ERHC" I would hate to see a BAD year if this is a Landmark year. These guys need to sell something, not buy into everything that comes along .imo. Develop what you have, not get over extended and gamble.
badboy, wrong, its is time to pump the dog out of this company. I hope they pump it and fluff it with gold everyday. Thats what they get paid to do (to get partners) you know. Its call selling. They also need to cut their expenses in half yesterday.
Or maybe we should just ask Obamonicely please come give us our drone back and pay us 30 million too.lol
Perhaps they should be buying 3d seismic instead of CHAD properties.
Bring on the fluff Peter!! Sell these highly prospective prospects, show us you can ! Hurry up! We are dieing off out here.
Complete review here... http://erhc.com/articles/2011-yearend-conference-call/
With all this positive good news why arent we trading up to 15 cents?
Our EEZ Blocks show significant similarities with adjacent Blocks offshore Gabon which host numerous discoveries and have seen a flurry of activity in 2011 including the entry of Brazilian E&P giant, Petrobras into the Ntsina and Mbeli Marin Offshore permits.
KROM, THE ERHC BOARD IS WALKING A FINELINE HERE.... THIS MAY BE CRIMINAL!! THEY HAVE LOST IT COMPLETELY IT SEEMS. WISH THEY WOULD PROVE IT OTHERWISE.
"from where I sit, the future for ERHC looks brighter than ever before"
OK WE SPENDING ALL OUR MONEY IN A YEAR - HAVENT GOT ANYTHING TO INDICATE THATS EVEN A SOUND IDEA OR EVEN POSSBLE!!!??.... SHELF WOULDNT RAISE SQUAT!
How do we get a seat at this "royalty privlege table",,, what planet are these guys on?????
TELL US!!!!!!!