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.
If the Shoe Fits, Wear It!! Total is the Undisputed King of West African Deep Water Drilling. Ask yourself, Who will be developing the JDZ? Who will be developing ERHE'S EEZ Blocks? Who will be developing EEZ block #1 for SNP? What would a partnership with ERHE in the Kenya block do to ERHE'S Share Price?
Only Time will Tell :0)
Sneak
Could it be Total Fina?
Hmmm!
I could be wrong.
Sneak
OC: Surely, The Cat has their (Ankle Biters) Tongues Today!
Hvae a Great Day!
Sneak
Just like a Drag Race! The vehicle is fully fueled and PN is getting ready to Light Up the Tires before the Tree Lights Up! Leaving all the Ankle Biters Choking on the Smoke! LOL
JMO
Sneak
What could be on the Horizon?
I would be surprised if a farm in deal takes place. After all ERHE has been there and done that (No Control of Info).
Could a Deal be in the works much like the Elcrest Deal. The Chrome Group sets up the Elcrest Company and secures a bid from the Nigerian Government for the Shell - Total OML-40 for $100 million and Sells a 45% stake of Elcrest to Eland Oil. Elcrest has the capital to pay it own way. Eland has the rights to purchase another 15% of Elcrest at a later date.
ERHE has some very attractive onshore properties. By allowing a Private Investor(s) to buy a minor position into ERHE, ERHE could gain more capital than it could just from a farm in type deal. ERHE would also have some control of the flow of information about drilling results and the such.
HMMM, Blair steps down.
Who is the Private Investor(S)? HMMMM!
Only Time will Tell!
JMO
Sneak
DR.J, Welcome Aboard, They got me Too!
Looking forward to your post.
Sneak
OC:
The Elcrest Partnership was formed to bid on certain Nigerian hydrocarbon properties and if successful, take control of one in particular, OML-40 from Shell and Total Fina. The Elcrest partnership got Nigerian Governmental approval to do just such. Elcrest is 55% owned by Starcrest, Starcrest is owned by the Chrome Group. Eland controls 45% of Elcrest. Elcrest controls 45% the block.
Blair leaves the ERHE board for a self described "Potential Conflict of Interest"
Will they be competing against each other? No I do not believe this is the case. Could Eland be interested in working with ERHE?
Only time will tell.
JMO
Sneak
OC: Thanks for the kind words. I requested premission to be reinstated, but was denied. That is O.K. as I have some quality time to research this investment without getting caught up in the day to day bickering about conspiracy theories, poor management and the such.
Yes I seen those post. Sao Tomes direct talks with a Sub of SNP for EEZ block 2 is delightful indeed. If one looks at ERHE's block 5, one can see a direct link from all the JDZ blocks to the EEZ block #2 and ERHE'S EEZ block #4. I wonder who set that Play in Motion!! (Helpng to choose the EEZ blocks for ERHE) Are the powers that be deciding to ship the JDZ hydrocarbons directly to Sao Tome for refinement and or distribution? Sao Tome is a much safer place for Development Capital than, Lets say Nigeria. Just saying.
Just Thinking Out Loud.
Have a Great Weekend.
Sneak
OC: Indeed I agree. We all know that the whole JDZ process from the very start was to fractionated with all the little fish in the zone that could not contribute (Industrial Expertise or Noteworhty Capital) any resemblance of value to the development of the JDZ hydrocarbon Assets.
Now that Phase 1 has ended and it would seem that all of the little fish (Want-a-be Hydrocarbon players) have died off, Phase 2 presents another problem as I believe that most of the targets hold 100 to 150 million barrels and are spread out in each block, Giving up 25% of each block in order to proceed with Phase 2 becomes a little more problematic and not to mention Phase 3 as NO definitive Hydrocarbon target has been defined with the Phase 1 drilling program. I believe that CVX found this out during their drilling program and hence sold out but kept a small % should the view change.
I will take the official view that Phase 1 had more to do with learning the geology of the JDZ more than discovering large quanities of Hydrocarbons. Remember that SNP - AXC did not drill as deep as CVX and their targets were all downslope of Obo-1.
The most interesting development over the last two years has been Blair's stepping down from the ERHE'S board because of a self described Conflict of Interest.
The Truth always resides somewhere between the most optimistic and negative view points as managements keeps tight lipped about upcoming events and speculation runs rampant. It is my opinion that this is for good reason as History has shown that everytime the cat is let out of the bag early, ERHE seems to have no lack of public enemies that scuddles it's plans for success.
What might have happened if the Kenya block was talked about before the ink was dry on the PSC and the fact that Keyna's top Oilman was jointing the ERHE Team? I think you have a clear understanding of what might have taken place.
The Silence is Bliss or should I say Blair.
This is All Just My Opinion.
Keep the Faith.
Sneak
Nigerian unrest (Militant and Political troubles) could lead to the JDZ and EEZ hydrocarbons being shipped to Sao Tome!
JMO
Sneak
Seek: Keep the faith my Friend!
The Silence from management is Bliss! or should I say Blair!
The share offering allows SEO to increase his position ahead of any potential buy-in that may ocurr in the future and allows for the average shareholder do do the same.
This Company has more going for it Now than in the last 10 years combined.
JMO
Sneak
JDZ: "Oil and Gas in Expected Quantities".
The JDZ delay is not for "Fart Gas".
The Serious Players Are Jockeying for Position.
Plan "B" Being Discussed by the Powers That Be. Nigerian and Sao Tome Offficals.
Recouping the Capital Cost of the Expenses related to Full Development on the Table.
JMO
Sneak
Speedy Gonzalez Latin Slang for "Come On, Come On" "Lets Gets Going" "Faster, Faster" "Hurry Up, Hurry Up"
Sao Tome and Nigerian Meeting of the Minds.
JMO
Sneak
Some say that they believe only because they can See! Bless it be the Ones who Believe, yet can not See!
The cost to develop to High with all the small fish in the Pond.
Capitalization (Big Fish) - Risk (small fish no or limited funds) = Undesirable Return on Investment. Hence Phase Two stuck in Neutral.
The JDZ A Winner Long Term!! with no small fish!
JMO
Sneak
It is almost time! Andele! Andele!
JMO
Sneak
The buyer of the additional shares needed to raise additional capital would rather have an ownership interest in the company than just a % of the blocks from a Free Carry Agreement.
Just thinking out loud, I could be wrong!
Sneak
Surley the powers that be did not extend the deadline for the average stockholder as most of them had made their minds up long ago. They would not be having trouble converting the Euro to Dollars, but converting $1,250 billion Narias to Dollars for placment into a U.S. bank seems more problematic for them.
JMO
Sneak
It looks like the Big Boys are having trouble getting all their $$$$ to transfer.
Stay tune, the show is delayed by two weeks.
Sneak. :0)
It looks like the Big Boys are having trouble getting all their $$$$ to transfer.
Stay tune, the show is delayed by two weeks.
Sneak. :0)
The JDZ is on the back burner for ERHE. Total should proceed with Block 1 development. SNP is in over it's head with developing blocks, 2,3 & 4. Total may step in to those blocks depending on how well block 1 goes. Thus ERHE moves forward with the onshore prospects. Onshore news unrelated to the rights offering about targets to drill about 1.5 years out. Other prospects are in the works. I am Interested to see the Eland Conflict of Interest that was the cause of a Board member leaving.
Just thinking out loud again, I could be wrong.
Sneak
Kenya Security Threats are on the Rise.
Sneak
China pays $24.60 a Barrel for 100 million barrels of a Producing Well!
A Sinopec subsidiary, Sinopec International Petroleum Exploration & Production Corp., paid $2.46 billion for Total's 20% stake and operating rights
China Petrochemical Corp., known as Sinopec Group, said, on Monday, it would gain 100 million barrels of "recoverable resources" from the purchase of French major Total SA's stake in offshore block OML 138 located in the Usan field in the Niger Delta basin.
A Sinopec subsidiary, Sinopec International Petroleum Exploration & Production Corp., paid $2.46 billion for Total's 20% stake and operating rights in offshore block OML 138.
Confirming the sale in a statement issued on Monday, Total's president for upstream, Yves-Louis Darricarrere said: "Usan accounts for less than 10% of the group's equity production in Nigeria. The sale of the asset operated from a minority position will allow us to focus our resources on the material growth opportunities in Total's portfolio."
OML 138 contains the Usan field, which started production in February. Usan, discovered in 2002, has the capacity to produce 180,000 b/d.
State-owned NNPC is the concession holder of block OML 138. Other partners include Chevron with 30%, ExxonMobil (30%) and Canada's Nexen Petroleum (20%).
After the purchase, Sinopec said it will have around 100 million barrels of recoverable resources through its interest in the block.
In a statement, Sinopec said the transaction will not only add a sizable asset to its portfolio but that it will also provide the company with another opportunity to develop expertise in deepwater exploration and production.
Sinopec's strategy is to form partnerships with international companies rather than to target direct acquisitions overseas, its chairman Fu Chengyu said November 13.
In July, the group announced a new joint venture with Canada's Talisman Energy, which gave the Chinese giant a 49% stake in Talisman's UK North Sea business for $1.5 billion.
.
The stock offering allows the Political Elite of Nigeria to enter the Dance just as the Music starts to play our Tune!
JMO
Sneak
ERHE is getting all it's Ducks in a Row!!
Sneak
Seek, The French Government is sending UAV or Drones to West Africa.
Nigeria must be serious about cracking down on oil thefts.
Food for Thought.
Sneak
Seek, The barking dog has a sore-throat from all those year of Yelling at the Moon and chasing his Tail. History has proven that he is dead wrong all along and he knows it. Early on ERHE got cauht up in the JDZ Hype, Just Like all of us. There is alot of Oil in the JDZ, but the cost to develope this field has know changed with the latest Total drill info that they are looking through. HYD on the other hand is a dead fish, as they are left scratching their heads. Such is the life of an Exploration Oil Company. Offor and company have lessened the blow to a less than stellar drilling results as SNP has to eat the cost if they chose no to go forward.
I say Total reworks the PSC in order to make the JDZ more attractive to exploration and development. Just a thought.
Have a Great Weekend.
Sneak
Tam: I too have to LOL, The detractor claiming a border dispute between Sudan and Kenya. They have planning an overland hydrocarbon pipeline to the Kenya coast so Southern Sudan does not have to rely on Khartoum for their exports. I am sure Kenya will also use this pipeline as well. Looks like Pete put us in the CAT BIRD SEAT!
Have a Great Day!
Sneak
Southern Sudan and Kenya plan a New Hydrocarbon pipeline that will deliver oil to the Kenya coast, thus reducing Southern Sudan's reliance on Khartoum.
HMMMMM LOOKS like Pete put us in the Cat-Bird Seat!!
Lets Go Pete, Lets Go Pete!
Sneak
Seek, what I have read on the PIB, it only takes up to 75%. I did not read anywhere that up to 90% would be taken as XOM claimed. They have to add local content that benefits the local communities. In any event the "JDZ" could be the big winner if commercial quantities are announced.
JMO
Sneak
For All the distractors who try to prevent ERHE'S rise to the Top!!
It is alot of fun watching the Nail-Biters Nash their Teeth and throw their daily Temper Tantrums because they can not get their way.
Please do not worry, Mommy come, you go home. After the market closes it is O.K. for you to go suck your Thumb!
The Calvary has arrived in Sao Tome!
Have a Great Weekend!
Sneak
For the longs it may get interesting, As this company moves forward, the Nagging Nay-Sayers and Belching Blowhards will find just as much to Complain about, but their credibility will be sinking like a Stone. They have become nothing more than A Chattering Fear of Static background noise, which will have no bearing on where this Company goes. Deals are in the works and the Sands of Time are running out of their way of thinking.
JMO
Sneak
The clock is ticking on the Nay-Sayers.
JMO
Sneak
Tryoty: I am stuck over here in I-HUB'S "Purgatory" awaiting Atonement for my sins agian the Great Nay-Sayers. LOL
Laughter is Great Medicine!!
Have a Great Day
Sneak
The New Nigerian Petro Law should work wonders for Nigeria as it should lead to the Influx of Foriegn Investment Capital. Maybe Just Maybe, ERHE will Benefit from such Capital Influx?
A stool with Four legs is safer to sit(Rest) upon than a stool with One Leg.
JMO
Sneak
This reminds me of a Heinz ketchup commercial, "Anticipation, it making me wait" and I say it's TOTALLY GOOD!
JMO
Sneak
Some People feel as if they are being treated like a "Mushroom" (kept in the dark) and Deservingly So! :0)
Have a Great Day
Sneak
Seek, look for some onshore Nigerian action as well. Home town boy to build a Juggernaut.
Have a Great Holiday Weekend.
Sneak
Arnim: The new shares offered should not dilute the value of existing share holders as the influx of additional capital should offset any dilution effect of the additional capital.
These new share should come with rights to purchase additional shares down the road at a later date. I believe this new buyer does not want to buy a Pig in a Poke if you will. They will invest as per the new JDZ NSAI report with the option of additional investment purchases based on how well the JDZ pans-out in future drilling.
Just my Opinion.
Sneak
Arnim: It looks like the Nigerian (smackdown) has started as the U.S. changes the rules of engagement in the African Oil Patch!
"When in Rome, Do as the Romans" Home field advantage to Team Nigeria!
The U.S. Military will be arriving soon as well!
Happy Days should be here Soon!
Have a Great Day!
Sneak