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The ERHE train is leaving the Station!!!!
Remy, the Bible Quote, Very nice Indeed! :0)
Remy, did you know Mica7? He seemed to know a lot about ERHE's early on before SEO came on the seen and then after SEO took control. Mica7 was up in age and I have not heard from him for a very long time. I believe the last time was just after the Raid on ERHE's office.
Just Wondering.
Sneak
Old News, but it is good to look backwards to have a clear Vision of what is coming! :0)
AFRICA ENERGY INTELLIGENCEN°685 - 24/10/2012
WHO'S WHO
Jorge Dos Santos
In the wake of a drilling campaign in July on block 1 operated by France’s Total, some officials on the Joint Development Zone Authority that oversees the JDZ between Sao Tome and Principe and Nigeria (the panel is headed by Jorge dos Santos) are privately voicing optimism that production on the block could begin within the coming three years.
Sneak
I have said from day 1, too many small fish in the pond, thus making the ROI less than desirable for the Big Fish to Stay.
The JDZ knows this. Total takes over operatorship of the JDZ blocks 2,3 & 4. ERHE retains its position in the blocks due to political reasoning (The Cake is not Fully Baked). SNP takes a backseat in the JDZ.
As the bewitching hour approaches, Look for the detractors to toss every negative Bombastic opinion at this soon to be runaway Train.
Just my opinion
Sneak
Marty, If no one responded to him and his kind, just talk around them and place them on ignore, it would go along way in sitting them down on the sidelines of that board. His prognostications are about as reliable as the "Oily One". No one has been as wrong about past, present and future events the he and his kind have been and that is a FACT.
Sneak
Seek, why do you ask?
Sneak
Seek: It would seem that Oando is backed by Addax/Sinopec.
My, My, what a web they Weave!!
It would seem that "Chrome" is king in Nigeria!
I am just saying.
Sneak
Seek: I did not know that SEO had a stake in Eland Oil. I knew that Blair's Eland Oil and SEO's Chrome Group "Starcrest" formed a joint venture call Elcrest and won a competitive bid for the 45% stake in OML-40.
Eland owns 45% of the Elcrest joint venture and can purchase an additional 10% from Starcrest for controlling interest in Elcrest at a later date.
The Gist or Essences of which is, without SEO and the Chrome Group of Companies, Eland may not of had viable chance securing this block from the Nigerian Government, when one considers the 18 other very qualified entrées into this Fray!
Politics is like in the Game of "Chess" everyone if focused on the "King and Queen" and to under estimate the power of all the other pieces on the board is a recipe for disaster.
JMO
Sneak
Yes, Indeed Sir, It Is!! :0)
Sneak
O.C. you asked for it!! Here is a LOOK into the Bigger Picture of what is yet to come!!
Chrome Group subsidiary targets $1bilion annual turnover in five years
Premium Times
Published: February 23,2012
KAZTEC Engineering Limited, a Nigerian-owned engineering, procurement and construction (EPC) company, and subsidiary of Chrome Energy Corporation, plans to grow its annual turnover by about five times the current level of over $200million within the next five years, its projects director, Geoffe Stone, has said.
Mr. Geoffe, who was speaking on the sidelines of the 12th Nigeria Oil & Gas (NOG) Conference in Abuja, said the company’s growth strategy would be devoid of mergers and acquisitions, but would involve leveraging on the potentials of other interests under the Chrome Group, which has vast interests in the oil and gas sector, bio-fuels, petroleum products trading as well as logistics and dredging services in Nigeria and abroad.
Chrome is the parent company of the Environmental Remediation Holding Company (ERHC) Energy, which has extensive interests in the Nigeria /Sao Tomé and Principe Joint Development Zone (JDZ) in the Gulf of Guinea.
“We are in our infancy, but we have tremendous plans for the future,” Mr. Geoffe said. “We have very clear vision of what we are doing and where we are going. In the next few years, we plan to build our support operations base near Oron, South-South Nigeria, which will encompass a number of facilities, including the pipe coating facility, so that we can coat corroded onshore/offshore pipeline installations; a fabrication facility that would focus on structures, topsides and platforms as well as onshore metering stations, and free port for import and export on tax free basis.
“That is the way we need to go in future, because there are limited facilities in Nigeria at the moment. It is cost effective and profitable, and it’s a good way to develop the country’s infrastructure. There are other facilities that are not being planned yet. These include potentially dry docking facilities and other related maintenance onshore/offshore facilities, particularly for vessels. There is a large Nigerian fleet for construction, transportation and production vessels. All these would be maintained.”
He said KAZTEC, which commenced business in 2007 with two onshore pipelines installation projects, with pipeline systems and metering station and related facilities for Addax Petroleum, has completed two projects, with the third, located offshore south-south Nigeria near Calabar, at advanced stage of completion.
When completed, the Adanga offshore field project, would gulp about $150million, in addition to a number of vessels and pipelay/derrick and construction barge operating in water depths not exceeding 100 meters.
“We have a funding program properly mapped out and developed for the projects,” he said. “They have to be cost-effective from the start, profitable and able to mobilize profits from many other companies owned by the Chrome Group, including independent onshore and offshore oil and gas drilling companies that would contribute to the development of the funding program.”
Though he noted an element of third party involvement in the funding arrangement, Mr. Geoffe underscored the need to spread some of the risks in the early stages, ruling out discussions with any partner at the moment.
“Our strategy is to do everything from within the Chrome Group,” he said. “That’s a good way to go forward. We have demonstrated in the last three to four years that we can do that. We are yet to to determine our capital base in the next five years. All the elements would have to be defined for the cost to be defined. But that would become clearer in the next six months.”
Sneak
https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQRdrFc3TtoZhoRhBy5PCPCwPij1MomdgMufMBitdlI5lfd2MltWg
Krom, this link works best. maybe you need to upgrade the photo. LOL
No harm done, just some Great Laughs!
Sneak
https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQRdrFc3TtoZhoRhBy5PCPCwPij1MomdgMufMBitdlI5lfd2MltWg
O.C. the link above works the best, tell Krom. LOL
Sneak
I see the Four Donkeys of the ERHE Apocalypse are out in Force Again!! They look like the West End of an East bound Mule!
No opinion, Just a matter of Fact!!
Sneak
The Silence is "BLISS" maybe White Board play taken Shape!! Swap a percentage of ERHE shares for a small percentage of a "PRODUCING WELL" (Life Line during waiting period). Equity Swap could work the same way. OML-40 comes to mind. Somehow SEO and Bliss may be involved. Bliss still owns some shares and "options", Bliss and SEO gets a better deal by swapping part of OML-40 for percentage of ERHE. Should ERHE hit it big They SCORE for no money out of their own pockets!
Sorry, Just more Wishful Ponderance!!
Sneak
OC: The "Slow Roll" as you say and as I believe is because to many small fish (Hydrocarbon Hitch-hikers) were located in the JDZ and with numerous smaller Hydrocarbon targets spread out through out the area, the intense development cost would prevent any development as long as all the smaller fish remained in the pond resulting in an Insufficient Capital Return for the amount of Development Capital needed to bring the JDZ online, Hence the "Slow Roll".
Good Time are Coming!!
Sneak
OC: We are Halfway There, (since clearing the Illuminati Cavity Search).
JMO
Sneak
Manipulate
Implicate
Devastate
Traumatize
Intimidate
Erroneous
Rhetoric
Of
Impulsive
Liar
OC: Closeology Yes Indeed. For the nay-sayers, It could be "Checkmate-Ology" LOL
Have a Great Day
Sneak
Sinopec paid about $1.5 billion dollars for Marathon's 10% ownership of Angola's deep water offshore block 31. The block has proved and probable hydrocarbon reserves of 533 million barrels spread out over 17 hydrocarbon discoveries. Sinopec is also scheduled to purchase another 5% of the block from one of the other players. The total development is estimated to take 10 years and cost upwards of $15 billion dollars and producing up to 150,000 barrels a day.
http://www.jpkenny.com/Pages/DevStudies_BPAngola.aspx
Just food for Thought.
Sneak
Only the NSA knows for sure!! LOL ;0)
Sneak
OC, One can not carry on an argument with a mindless sole.
The best word to describe the mindless one is "Wrongology"
from Ben Franklin:
Perhaps the history of the errors of mankind, all things considered, is more valuable and interesting than that of their discoveries. Truth is uniform and narrow; it constantly exists, and does not seem to require so much an active energy, as a passive aptitude of the soul in order to encounter it. But error is endlessly diversified; it has no reality, but is the pure and simple creation of the mind that invents it.
Sneak
Fraud is more like it. How could a self proclaimed Mid-level oil executive be reduced to bashing and flipping OTC stocks for a living?
What a long hard fall from Grace and Self-Induced I might add!
ERHE and It's Management Team, along with it's trusted public stockholders are not the losers, He and his unsubstantiated babble are the true losers in ERHE's Quest for Hydrocarbons.
"And the Truth Shall Set You Free"
Have a Great Day.
Go Heat!!!
Sneak
Merger - Acquisition - Equity Swap in Producing Well - Company Buy In or Capital Infusion into ERHE, Comes to Mind!! :0)
Have A Great Weekend!!
Sneak
Seek, SNP took a back seat on the JDZ bus! The New Driver is in Total Control of the Bus's Destination. :0)
JMO
Sneak
Studies Confirm that Sao Tome EEZ shares the same Geology as offshore Brazil. And The Truth Shall Set You FREE!!
http://www.presalt.com/en/brazil/english/brazil-pre-salt/petrobras-operations-in-the-pre-salt-graphic-animation-2207
JMO
Sneak
Seek: Valuation ERHC Cut
JDZ = 400 MBLS
EEZ = 800 MBLS
Chad = 200 MBLS
Kenya = 600 MBLS
2BBLS x $15.00 x (Time) = $30.00 a share.
JMO
Sneak
Nice read Seek, Thanks for the insight!
Sneak
arnim: One must look to the Past in order to See the future.
PN is following Jean Claude Gandur's Play book on how to build an oil company from Scratch!
Gandur's ascent is detailed in a 1-13-2008 article about Royal-Dutch Shell.
Happy Days are Coming!!
Sneak
arnim: After reading this board, one can always Sleep Easy as there is no noise from the Ankle Biters!
Sleep tight my friend and leave the mushrooms in the dark (no Info) on the other board. LOL
Sneak
JSC: When I first got into this stock play, ERHC had 350 million shares outstanding and the only assets that were in play were the JDZ and EEZ blocks. At that time it was rumored that SEO wanted $8.00 a share. Since then the share count has more than doubled and after block one was drilled by CVX, SEO was rumored to want in excess of $10.00 a share and oil was $50.00 a barrel. Now with oil closing in on $100.00 a barrel and the selection of the EEZ blocks and the addition of Chad and Kenya properties and still with more on the way, I believe that SEO will get $25 to $30 a share.
I could be all wrong.
Sneak
OC: Like I said, a 20% equity swap would be better for Chrome going forward as they reduce their risk in ERHE, while at the same time increase their upside!
Elcrest is a private joint venture between Starcrest (The Chrome Group) and AIM listed Eland Oil. Starcrest had an agreement with the Nigerian Government to take over operational control from Total and Shell for $100 million for about a 50% stake in OML-40. Eland paid $50 million to Starcest for a 40% stake in the Elcrest Joint Venture with Starcrest. Eland also retains the rights to purchase another 15% of Elcrest from Starcrest in the future.
Chrome has about a 41% stake in all of ERHE'S unproven asset base. I am sure you will agree that Spending $16 million to increase that stake by 2/10 of 1% was not wise, but allowing Elcrest to purchase a 20% stake in ERHE for Cash and a Equity Swap achieves two things. 1) It reduces Chromes risk going forward as OML-40 will bring in much needed capital to ERHE. 2) ERHE does not have to accept any farm-in deals that are not good for ERHE in the long run.
Should ERHE sell 20% of stock to Elcrest, Chrome % of ERHE's overall asset base drops to about 31%. Chrome gets about a 12% cut and Eland get about a 8% cut of the 20% through the joint venture.
Chrome still retains it's % of the asset base in ERHE and get a much needed cash infusion. ERHE boat starts to float as a rising Tide of capital lifts the share price. Do not forget that Eland can still purchase an additional 15% of Elcrest.
A deal done in this manner would not be seen as risky for Eland shareholders as buying into ERHE staightout might seem.
ERHE is working hard to get all of the JDZ block trouble (5,6 & 9) Cleaned up. (window dressing if you will).
Before any buy-out of ERHE can take place the share price must rise to a respectable level based on proven Hydrocarbon Assets.
Could Total be waiting in the Wings should the assets base be Proven?
Only Time will Tell.
Have a Great Day!
Sneak
Try: The little Treehouse in the thick of the forest is gaining in it's population count. No negative drum beats over here! LOL
Sneak
OC: That may explain why Chrome did not increase it share of stock. Spending $16.35 million for 225 million share that did not get sold for less than a .02% increase in ownership is not a good buy. But picking up a 20% interest in ERHE's Blocks through an equity swap and some Elcrest Cash would be a good deal for Chrome and Blair's Eland Oil.
I'm just saying!!
I could be Totally Wrong Again!!
Sneak
OC: Could ERHE be Exchanging Equity with another oil player for part of the Kenya block for part of a producing block whereby at the end of the day, SEO gives up very little in terms of Hydrocarbon Reserves and at the same time Achieves a Hydrocarbon Revenue Stream for ERHE?
Does Blair and Elcrest ring a bell? HMMMM.
I Could Be Totally Wrong!!
Have a Nice Day.
Sneak
OC: Shhhhhhhhhh! Let MT and his like twist in the Wind like a broken shutter from the lack of information about upcoming events.
Ruby, thanks for the update!
:0)
Have a Great Day!!
Sneak
OC: This Song is a tribute to all those that gave it their All in a Failed attempt to derail ERHE'S Bright Up and Coming Future.
That conflict could be a number of things. His time needed for the Eland Elcrest development, His relationship with the old AXC Boss. His relationship with SEO as it relates to ERHE'S future dealings.
But the most striking development was that Chrome did not purchase any additional shares. I wonder if the Letter of Intent had anything to do with that development? HMMM!!
We will just have to wait and see! :0)
JMO
Sneak
Seek: The Long Shot Dark Horse is this Race is Orxy. Mr. Gundur's Company kept the downstream assets of AXC and he has upstream assets as well. While I would not discount this selection much, the growth factor would be slower than that of Total.
The Plot Thickens.
While I Believe that Total has the Inside Track! I do not think that the Nigerians Power brokers that control ERHE would settle for a U.S. Conglomerate after what took place with the JDZ.
Oui Oui Misure! :0)
JMO
Sneak
OC: If Total joins the ERHE dance in Kenya, The share price will skyrocket to $1.00 very very quickly. please do not blink, you may miss the move!
I could be wrong.
Sneak