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Kinda related rig news .. at least these guys are working
Aban 8 answers Iran’s Phase 12 call
http://www.UpstreamOnline.com
The recently christened Jack-Up Drilling Rig ABAN 8 [Aban Offshore] is set to sail from Singapore’s Sembawang Shipyard next month to start a four-year drilling campaign for Iran’s Petropars.
Aban 8
http://www.rigzone.com/data/rig_detail.asp?rig_id=1395
used to be ... About ERHC Energy
ERHC Energy Inc. is a "Houston-based independent" oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea
now .... About ERHC Energy
ERHC Energy Inc. is a "publicly traded American company" with valuable oil and gas assets in the in the highly prospective Gulf of Guinea
ERHC Web Site Update
ERHC NEWS !! thx Dan
interesting the word "American Company" emphasis
this is new
ERHC Energy Inc. to Webcast Annual Shareholders Meeting
HOUSTON, April 21, 2008 – ERHC Energy Inc. (OTCBB: ERHE), a Houston-based company with valuable oil and gas assets in the Gulf of Guinea, today announced it will provide a live Webcast of the company’s Annual Shareholders Meeting on Tuesday, April 22, 2008. The Annual Shareholders Meeting is being held at The Renaissance Houston Hotel and will begin at 3:00 p.m. Central Time.
All interested parties are invited to listen to the Webcast live via by clicking http://www.visualwebcaster.com/event.asp?id=47651 or going to a link provided under “Investor Center” on the company's internet site at www.erhc.com.
If you are unable to participate during the live Webcast, a replay will be available at http://www.visualwebcaster.com/event.asp?id=47651.
About ERHC Energy
ERHC Energy Inc. is a publicly traded "American Company" with valuable oil and gas assets in the in the highly prospective Gulf of Guinea. ERHC is committed to creating and delivering significant value for its shareholders, investors, and employees; sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
# # #
SloJon this in one of 100's of Articles that have appeared over the years referencing Sao Tome and ERHC in the same breath.
There will be 100's more to come...
Big Investors are not driven by this, in fact the tone towards ERHC is negative and has always been
Sad to Say it's just the way it is - hey but at least they mentioned Exxon which is fair as they were right with us all the way.
The ERHC / Sao Tome story is rich in plot and drama
hope all the main characters will be on stage together at the final curtain call taking bows as the audience cheers
We would need Canadian employees and and Canadian Address
We are no more Canadian than we are American
But agree the TSE and TSX [Venture exchange] is heavily weighted in resource stocks and our exposure would be enhanced along with the PPS
that's why it made the WhiteBoard
perhaps an Addax Combination of some sort could accomplish this
I hope people's expectations of this weeek's SHM are realistic.
Its great DK has informed us to expect a webcast/conf. call of some sort ... BUT
as far as NEW information - Dont expect ANY IMO
It will be great for Shareholders to meet our new Management team and perhaps legal council and even DK for that matter.
These relations will help to strengthen shareholders perception of management in which was basically silent for 10 years and has been invisible and non responsive to shareholders.
We finally have the muzzle of our mouth and a real web site and PR team. Perhaps the SEC has forced our hand here.
Now for the news. ...
As we know only Addax can speak to any drilling news
As we know only our lawyers can speak to any investigations news
so if we get some new tidbits from these groups would be a surprise, i'd settle for just more confirmation of what we already know.
There is lots of oil, just not sure when we get there and the investigations will not change our rights at the end of the day
Shareholders may have 1000 questions for management like the Chrome relationship, FAB, Starcrest, Matzke, Walter Brandhuber, GodSonic, I wouldn;t expect to hear anyting that hasn't been said already.
Have a great trip everyone going...
Please update the board on your findings and overall impression
just keep your expections in check
cool thx so look for ERHC news Monday
with the meeting / conference [Webcast] instructions for those not in attendence - Nice
good work DegenerateGambler
Nightdaytrader, Addax not being honest? What's your rationale?
the Rig is being modified by a 3rd party - what control do they have - there could be any of 1000 reasons for a giant Rig of the AA's size to be delayed,
Jeff Schull said all along if there was to be a delay it would be at the start of the campaign, and then they came up with the notion of a 2nd "Rig of Opportunity" - knowing there could be a delay with the AA- [They cant wait to get to drilling - IMO]
Recall he Came from the Chevron JDZ team to Addax..
Why would they want their shareholders to wait any longer than necessary to discover what we have known for years
MASSIVE OIL TO BE FOUND !!!!
2 * Pi = $6.28 ???????????
1 * Pi = $3.14
Clay Great Chart Analysis! in 8 years here we have never seen so much attention to detail and with video comments too
Bravo
guys ERHC is under Contractual Obligation NOT to say ANYTHING unless it comes from the Operator first
E-Mailing Dan will not get you anything we have not heard from the company already
[white board not included]
some one may call to the AA Singapore Shipyard and to request double the rice & noodle portions so they can finish our Rig already
I have tried Addax and they were still saying Q4-2008 [from about 2 weeks ago] - but no other details were given
Our Rig is here ...
http://www.rigzone.com/data/rig_detail.asp?rig_id=680
NEW JDZ ROUND ?? odd they would re launch BL 5 & 6 with out all the drilling results in BL 2,3,4
They could fetch more sig. bonuses perhaps if they waited,
either way more of our wonderful rights to be perfected!!!
Possibly good trading options some more $Cash to us ????
Circus is coming & tickets are still cheap
wtao still in modification per Rig Zone
http://www.rigzone.com/data/rig_detail.asp?rig_id=680
Can I order my "Guarantee" of $1 please
dont think I'll need it - but just in case
WoW !!! Ok who wants to be a Millionaire
Type "I do"
Count me in !!!
We need a second advanced class for those wishing to become Multi-Millionaires.
Jefferson is Happy! - DoJ is Not,
Jefferson's attorney, Robert Trout, said his client is "gratified" that the court's ruling will stand. "From the very moment that we learned of the FBI's raid on a congressional office -- the first in our nation's history -- we were convinced that the Department of Justice was out of bounds," Trout said.
here is a new dot the IRS...
The Company is currently under examination by the Internal Revenue Service
The Internal Revenue Service is currently examining the tax returns for the Company’s 2005 and 2006 tax years. The Company
anticipates that this examination should conclude in the next few months. If adjustments are found, the Company may be subject
to taxes, penalties and interest and these could have a material adverse effect on its operations, financial condition and cash flow.
Spec29, still "On Track" - just no updates on firm dates yet, standard response, as if they would tell me something different
received April 7th, 2008
"We continue to seek a rig of opportunity to drill in JDZ BL 4 in Q4 2008 and expect to get the Aban Abraham mid 2009.
Please check back on our site as we will be press releasing any updates if and when they occur."
Regards,
Craig
Craig E. Kelly, C.A.
Finance Manager - Corporate Mergers & Acquisitions
Addax Petroleum Corporation
on our way, you may be on to something !!
We have only had a small few 10+ MM VOL days that I recall, the first one was the Sao Tome Coup in 2003, the stock fell from $0.30 to $0.20 and back to $0.30 again - very wild.
The 2nd was when the day STP Pres. Menezes cancelled the 1st JDZ licensing round with out awarding ERHC its preferred rights. There was so much anticapition built up and confusion that day,
We learned this from a Dow Jones News story and the stock traded sharply down on 13 MM shares.
A year later the 2nd JDZ round concluded and there were plenty of exciting days inc. the days we announced Pioneer & Noble were replaced with Addax and Sinopec. Then again on the days the JDA awarded JDZ BL 2,3 & 4 and another year later at the PSCs.
The last big one was the Gov't raid in 2006 - was another wild day.
I have a feeling there will be more and more later this year and certainly next year with 10 Wells planned. We may need a few more Dan Keeneys to keep up with all the news,
Spec29 that's it ?? $3.00 after all costs ?
For all the risk seems very low
Addax Presentations to Analysts
http://www.addaxpetroleum.com/investors/management_presentations
BB, ERHC has yet to announce a LOI or MOU from an other entity to date but went on record to say...
"In the event that the ERHC leadership signs or enters into any LOIs or agreements related or giving rise to any material transaction, we will publicly disclose that information by the requisite means of dissemination."
I think the PPS move was the fact the PPS was way oversold in the $0.20s and you had "PANIC BUYING" from longs who had sold, flipped, and wanted to be back on the train in 2008 so close to drilling.
Perhaps there were a few new big buyers and some newbies to add fuel to the fire.
I stand by the instinct of a RIG coming soon due to the continued reminder by our partner Addax ...
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28031772
but could be any of these too ...
in which the PPS was quiet for 4 months and then exploded to the upside to finish at a new 52 Wk high of $0.52 on strong VOL
a] a big buying group
b] basic valuation adjustment
c] a Buyin Scenario
d] a Rig Announcement
e] SEC/DoJ Clearance
f] delayed reaction to the Nig O&G event in Feb
g] details of the JDZ Block seismic being passed around
h] long investors topping up
i] SH Meeting excitement
j] New PR Team and first class marketing
etc.
Addax Petroleum announces new acreage award offshore Cameroon
Thursday April 3, 8:29 am ET
100% interest in Iroko exploration license area in prolific Rio del Rey Basin
CALGARY, April 3 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC) announces today that it has signed a Production Sharing Contract ("PSC") with the Republic of Cameroon, relating to the Iroko exploration license area. Under the PSC, Addax Petroleum acquires a 100 per cent interest in the Iroko license area and is the operator. The Société Nationale des Hydrocarbures ("SNH"), the national oil company of Cameroon, holds a back-in right of 30% in case of a development.
ADVERTISEMENT
Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "I am delighted that Addax Petroleum has been awarded this promising exploration acreage by the Republic of Cameroon, situated in the prolific Rio del Rey Basin where the overwhelming majority of Cameroon's production is located. We are excited by our exploration potential offshore Cameroon which we believe can deliver near-term value for our shareholders and the country. We are presently drilling our first exploration wells on the Ngosso license area and later in 2008 we plan to drill on Iroko."
In consideration for its interest in Iroko, Addax Petroleum is obligated to pay a signature bonus of US$3 million and undertake within the first three years a minimum work program valued at US$17.5 million, which includes the acquisition of 3D seismic data and the drilling of one well.
The Iroko license area covers an area of 15.75 square kilometres (3,890 acres) and lies approximately 30 kilometres offshore Cameroon where the water depth is approximately 40 metres. Presently, there are no wells drilled on Iroko but there is oil production nearby from the Pecten (Shell)-operated Mokoko-Abana field complex.
About Addax Petroleum
Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on West Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8,800 bbl/d for 1998 to an average of approximately 126,000 bbl/d for 2007. Further information about Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com.
any thoughts on that development
is it significant or not
DoJ just visited ERHC On The Move
By Location > Visit Detail
Visit 388,030
[<<] [>>]
Domain Name usdoj.gov ? (U.S. Government)
IP Address 149.101.1.# (US Dept of Justice)
ISP US Dept of Justice
Location Continent : North America
Country : United States (Facts)
State : District of Columbia
City : Washington
Lat/Long : 38.9097, -77.0231 (Map)
Language English (U.S.)
en-us
Operating System Microsoft WinXP
Browser Internet Explorer 6.0
Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; DI60SP1001;
.NET CLR 2.0.50727; InfoPath.2)
Javascript version 1.3
Monitor Resolution : 1280 x 1024
Color Depth : 32 bits
Time of Visit Mar 31 2008 2:08:51 pm
Last Page View Mar 31 2008 2:08:51 pm
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Referring URL http://www.google.co...ch?hl=en&q=kit dimke
Search Engine google.com
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Visit Number 388,030
>
Pup - nice to hear from you! Any thoughts on Addax announcing a new or the AA Rig either Q3 or Q4 2008 ??
Whats the Rig Chatter?
Also any comments on the newly posted BL 4 Info ... http://www.erhc.com/jdzprospectivity/
aside from being down is there any news ???
"We can also report progress toward resolving the difference of opinion regarding the recovered nine percent share of JDZ Block 4.
You may remember that ERHC took action to recover it from another company that had failed to meet certain obligations. Our consortium partner, Addax Petroleum (Nigeria Offshore 2) Limited, claims entitlement under the existing agreements to 7.2 percent out of the recently recovered nine percent, leaving 1.8 percent remaining with ERHC. If finalized, this would increase ERHC's share of JDZ Block 4 from 17.7 percent to 19.5 percent.
ERHC and Addax are amicably exchanging statements in arbitration, to resolve whether or not additional consideration is due to ERHC from Addax for the 7.2 percent claimed by Addax under the terms of the existing agreements.
The parties are also exploring mediation as an alternative to seeing arbitration to conclusion.
Agree - some consolidation after a big move is Healthy
Slow N Steady
you'd prefer $0.20 again ?
ERHE ALERT *** http://www.BellwetherReport.com
Free Updated Small-Cap Analyst Review for NTDL, ERHE, ACTC and RMDX NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by The Bellwether Report.
TORONTO, Mar 31, 2008 (MARKET WIRE via COMTEX) -- BellwetherReport.com is the leading online financial newsletter for investors seeking top independent and unbiased research.
Investors seeking free and unbiased research on the companies mentioned in this release are encouraged to sign up to www.bellwetherreport.com for a free subscription to access these reports.
Today, we have scheduled interviews with a number of the top analysts in North America to speak with them in regards to the current market activity and position of NuTech Digital (OTCBB: NTDL), Advance Cell Technology (OTCBB: ACTC) and updated reviews of ERHC Energy Inc (OTCBB: ERHE) and RemoteMDx Inc (OTCBB: RMDX)
To receive free access to these interviews and analyst reports sign up to ...
http://www.BellwetherReport.com immediately
Doug C... join us [20 of us so far] for Live ERHC Chat
***LIVE ERHC CHAT*** NOW OPEN at PALTALK
go to .... http://www.paltalk.com/
Download Free on the Right
Search ERHC or ERHE to join the room
***LIVE ERHC CHAT*** NOW OPEN at PALTALK
go to .... http://www.paltalk.com/
Download Free on the Right
Search ERHC or ERHE to join the room
BB I must disagree ""ERHC Energy's annual report for 2007 has been completed and is also being sent to shareholders of record as of March 17, 2008. The annual report extends the Company's theme, 'Deep Opportunity.' The annual report continues our telling of the ERHC story and we encourage you to pass it along to others. "
They encourage us to PASS their report on to others???
and then you feel they will somehow disenfranchise us ?
Cant see it
Trueheart our partner Addax Petroleum, [http://www.addaxpetroleum.com/operations/jdz] has graciously given us a $FREE CARRY to first Oil based on us giving them a few extra percentages of our rights.
The Consortium Partners in each JDZ Block 2 & 4 have signed the Aban Abraham [AA] [Press Release Below] for a 5 well + 5 well option.
And yes for almost $1/2 Billion Bucks or about $400,000.00 / day a fee in which Addax's Exploration chief said was excellent
So NOT to Worry my friend, we can sit back, drink a cold one and just tune into IHub every day till we hit pay dirt, and we will hit pay dirt
---------------
http://www.addaxpetroleum.com/press_room/41
Addax Petroleum Secures Deep Water Drillship
Exploration drilling campaign in the Gulf of Guinea deep water to start in mid-2008
Calgary, Alberta, March 6th, 2007 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation” or “AP”) (TSX: AXC), today announces that, through a wholly-owned subsidiary, it has entered into an agreement with Aban Abraham Pte Ltd (“Aban”), a wholly owned subsidiary of Aban Offshore Limited, publicly-quoted on Indian stock exchanges, for the provision of the Aban Abraham deep water drillship to start drilling operations as early as the second quarter of 2008.
Commenting today, Addax Petroleum’s President and Chief Executive Officer, Jean Claude Gandur, said: “I am delighted that Addax Petroleum has secured the necessary drilling capability on competitive terms. This contract will enable us to advance our plans to demonstrate the considerable value in our highly prospective Gulf of Guinea deep water exploration portfolio which we have assembled throughout 2006. Our contract with Aban will enable us to complete an extensive exploration and appraisal program which I believe has the potential to realise considerable value for Addax Petroleum, its shareholders and stakeholders.”
The contract, which has been entered into jointly by Addax Petroleum and Sinopec, requires Aban to drill up to ten wells in total comprising five firm well slots and five optional well slots. Well slots will be allocated under a separate agreement between Addax Petroleum and Sinopec. It is intended that firm well slots will be allocated to Addax Petroleum to satisfy its minimum work commitments on operated blocks in the deep water Gulf of Guinea. The Aban contract anticipates that the Aban Abraham will start drilling operations as early as the second quarter of 2008 once it has completed a drilling campaign for a third party operator. Payments under the contract are based on a day rate charging structure and a maximum day rate of $410,000, to be allocated appropriately to Addax Petroleum and its relevant co-venturers.
Addax Petroleum holds interests in four deep water licences in the Gulf of Guinea. These are Blocks 2, 3 and 4 in the Joint Development Zone (“JDZ”) between Nigeria and the Republic of Sao Tome and Principe and OPL291 offshore Nigeria. Addax Petroleum operates JDZ Block 4 and OPL291 and JDZ Blocks 2 and 3 are operated by Sinopec and Anadarko, respectively. Under the terms of the production sharing contracts for the Addax Petroleum operated properties, the co-venturers have committed to minimum work programs that include three exploration wells on JDZ Block 4 and one well on OPL291. The Aban contract ensures that Addax Petroleum, as operator on behalf of the co-venturers, will have the drilling capacity required to meet its minimum work program obligations. Addax Petroleum’s deep water exploration portfolio is summarised in the following table:
Addax Petroleum’s Gulf of Guinea Deep Water Exploration Portfolio
Area Block Operator Addax Petroleum Participating Interest (%) Net Acres (acres) Additional Interest Carried by Addax Petroleum (%) Minimum Well Program (gross)
JDZ 2 Sinopec 14.3% 24,500 7.3% 1
JDZ 3 Anadarko 15.0% 24,700 10.0% 1
JDZ 4 AP 38.3% 81,100 17.7% 3
Nigeria OPL291 AP 72.5% 230,600 27.5% 1
About the Aban Abraham
The Aban Abraham is a deep water drill ship currently undergoing extensive refurbishment and modification at the Sembawang Shipyard in Singapore. The Aban Abraham was built in Holland in 1976 as a world class second generation drillship named the Pelerin. The drillship was operated from 1976 to 2002 in water depths of up to approximately 1,400 metres (4,600 feet) offshore west Africa, Norway, eastern Canada and Brazil and then cold-stacked until 2006 when purchased by Aban. When refurbishment is completed, scheduled for later this year, the drill ship will be capable of drilling in water depths of up to 2,100 metres (6,900 feet) having been upgraded from second generation to fourth generation capability. Once commissioned, the Aban Abraham will undertake drilling operations for a third party operator before starting drilling operations for Addax Petroleum.
Fishdog & Balance Builder, WB - [close sources then confirmed] wanted to promote ERHC with a Road Show to Wall St. with projected annual profit & revenues that would wet the whistle of any fund manager.
the Raid abruptly ended the planned promotion
additionally, WB butted heads with the BoD and especially SEO's pal of a CFO - who warned SEO of the downfalls
SEO and WB were 2 strong individuals who basically DID NOT See Eye to Eye on how best to run ERHC, hence the departure
Did he work for Millenium while still at ERHC ??
It was suspicious how he quickly organized a new Millinium Energy Hedge Fund with [Fmr. Chevron Chairman and Fmr. ERHC consultant Matzke] by his side, and a goal of investing in W.Africa Energy Sector
recall, he took his contact info down from the web site when we tried to reach out to him
That was 2 years ago and I have not seen any developments on that since.
Meanwhile back at the ranch SEO in hindsight may have made the best deal ever by signing Addax and Sinopec vs. Pioneer and Noble
we may never know the real reasons for the swap,
but it at present appears to be the best deal [perhaps ever by an Oil Company]
SEO Doesn't make bad deals - the PPS has long suffered IMO only due to the L O N G Timeframe of
a] 2x JDZ Lic. Rounds
b] PSCs
c] Rig
a] + b] + c] are now coming together and its gonna be the perfect storm
DeerRun Welcome !! Sounds like you are a TRUE LONG !!
never selling !!!
Tomorrow will be exciting for sure,
Oilphant and others have their sights set on $0.80 which is now in range after flatlining at $0.20 for 4 months
if a RIG Announcement is coming soon
what ever you get in at tomorrow will be cheap
Ruby1100
**Must Listen** - Great Oil discussions / round table
Great Sunday Listening - thx for posting
http://financialsense.com/fsn/main.html
Oil History / Current Demand / Current Exploration / Crisis Oil !!!!
Oil headed to $125 this year
!!!! NEVER EVER GOING DOWN !!!!
!!!! OIL DEMAND !!!!! Exploding
Less Overall Oil Discoveries vs. Past Decades
Less Discoveries vs. More Demand
Current Reserves being Depleted Faster
Oil Refinery Shortages
Greater terrorist threats of Oil Interuptions
More Weather Distruptions
ERHC to the Rescue