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sneak:
CNOOC was the AKPO partner.this only matters to Newbees checking in...Most longies here know this as im sure yours was a slip of the thumb..
best to you sneak
Baz
mrogop
as I recall SASOL acquired 5% of block 1 from CVX.IMHO
CVX retains an aprox 1-2% royalty.
BAZ
hey oiljunior/jimbo
10 yrs and holding and accumulating on dips.
GOG and down the coastline to Namibia "walvis ridge" will see lots of action in late 2010 and through 2011/12..IMHO.
Just look at all the small players who have secured acreage all along the west coast of Africa.Most of these companies need partners or buyouts /ins to realize value from those acreages.
Foreign companies are swarming.I look to Asia for buyers but,if the Brazilian companies are moving in,then that would be a tip off too,(see Santos ..Campos basins Brazil),as to
why there might be so much interest in the not so distant future....EEZ will show some clues as well. IMHO
Still here..waiting for the finish line(feels like I'm on those Airport conveyor belts)to jar me awake.
Baz
IMHO
what they found that was a surprise and very interesting to them,was the severe temperatures and gigantic pressures associated with extreme heat.THERMOGENIC GAS(TG)?...you bet and lots...mucho Oil beneath somewhere. First probe to confirm all this....YES!!!!
I'll bet Total wants in they like the ROI overall and no OPEC control ,as yet, for thermogenic gas,other than Natural Gas(methane).
ALL-IMHO
Midtier
I share your disgust with management for basicaly the same reasons.
IMHO the commerciality of the GOG will NOT be hinged on whether Biogenic gas is found or not.I'm left with a non-confidant feeling towards our management but I am still buying.Where there is Volcanic action and huge pressure issues to deal with,IE: OBO 1, Bomu(rumors of high pressures) Kina (rumoured of severe high pressures) and probably where ever they drill in JDZ since the Volcanics in surroundings.
Now....can Biogenic Gas exist in those extreme temperatures....LOL
Akpo we know,is mostly Thermogenics high heat and pressures.
WHO are THEY(as in our Company and others) trying to fool.
Biogenic gas from bacterial decaying matter is almost extinct at the Temperatures we are drilling in.
Now Maybe a new story will have to be concocted ...WE KNOW TOO MUCH!!!!
CHEEZE-IT ....UMMM okay try this one!!!!!
Can't wait
Baz
the question is ...Was ERHC forced by SNP to release this biogenic methane propaganda?
I would hope they weren't
...that thought would be the worst reflection on our company.(sp..?)lack of confidence is showing up on our board posts for sure.
If they weren't shanghaied to do so,then what was ERHC's motive to do so?Did they not think this would be seen as negative by the general market?
Just who is running this Sado Masachist comany anyways?...lol
For all those Degrees our Management has, tells me we are about to be invaded by the Royal Dutchie Of Fenwich.
In the movie The Mouse That Roared staring Peter(Sellers) in all the staring roles,Fenwich, announces war against America so when they invade and get captured,America will then rescue Fenwich and take over all it's financial and political woes.
Are we the Mouse That Roared? If so.......what are we talking about?
why must we be the messenger of THAT news,can't we say NO SORRY..that doesn't sound like what we would like to announce...You like Biogenic Gas SNP?...the YOU announce it....GEEEEEEEZ
still buying
Baz
Since early days man and animal have been excrementing in the nearby waters or sending it along the water systems.there is bound to be Biogenics subsea...lol...considering the earths waters have receeded and have become condensed sespools lol.EWWWWW...I know...but im always looking for options
baz
I'm still not seeing Biogenic=commercial as condensate is not under the control of OPEC and can quietlty be harvested as the main fuel ,value wise ,in the biogenic well.If the other wells were predominantly biogenic what was the other make up of the 1% to 40% of possible value comming out of those wells?
D-there is an underlying reason why ERHC's BOD doesnt care about the stock price,AND,wont communicate to its shareholders why it doesnt.
EZ:sounds good but:
sounds like it's not the Biogenics that make the discoveries commercial but rather the thermogenics that are present as well.
Biogenics alone look feeble and of low value for multiple billion dollar projects...ROI just isn't there for that.
Baz
yes balance agreed.
Now if your target is thermogenic and you know that mostly biogenic gas is A- not the variety of gas in the GOG that is associated with
commercial.
B- has negative connotations because of low value.
why would you hang your hat on that info and tell it to the world even when we know many more zones were penitrated without 1 iota of Thermogenics?
I dont really know what is behind our managements PR moves but it must be said that THEY ARE HURTFUL to ERHCand its family members.
SNP has said NADA yet they OKAY US to report that CRAP?
All I know is I'm building up more dry powder for our next PR...LOL
Baz
P.S. OR C- ERHC(management) is stupid and so are all it's high paid advisors that the Family is paying for
Fellow ERHC family members...lol
where and when exactly was/is the last conspicous commercial or even non-commercial discovery of Biogenic gas.It doesnt matter a lick about it as the GOG is loaded with thermogenic Gas.I bet there are traces of biogenic gas in most wells drilled where land is very fertile...and subsea life thrives as well.These instances are mostly insignificant and possibly not reported as the targets are thermogenic.
ALL IMHO..we were thrown this info to either shut us up or to mislead.IMHO there was no need to report Biogenic gas to shareholders as this could only be seen as negative,as ERHC etal ARE looking for THERMOGENICS.
Again AIMHO.....games are afoot,but,WE FAMILY should not be preyed upon and mislead on purpose.
Displeased(at management) but still adding.
Baz
Hi Farrel
My memory is not what it used to be,,,but,,for quibble sake!lol.
Memory speaks here--award amount for Block 1 was 123 mill.this was a record amount for a price of a deepwater block.
Chevron@ 51%(later sold up 5% to SASOL to enter for the Gas connections)=aprox 62 mill.
Exxon @40%=49.2 Mill (sold for 77 mill and a 2% royalty).
So figures IMHO are a tad smaller...same message though...just diff numbers associated.
Good luck here folks
I will be a buyer agin at these prices.
Ya the GOG is full of OIL...just look around.Very little Exploration BUT High % of Major finds SO FAR!
All holes intersected Hydrocarbons...
We sank 5 holes 6 total...Comparison models can be run with AKPO...as China has Access to the info.
With Total(hopefully) in the picture,interpretations of these fluid models and geological structures,all the info that is required to base a descision for Phase 2 is known.
I am betting on Phase 2 a go!
Baz
the physical map here shows the subsurface geology trending from NE to SW ..is this the fan structure we hear about?If so, and they are hydrocarbon bearing then there is a good reason that Nigeria wants to expant its protected waters.Seems like the (Fan )structure/s extend far past the JDZ boundaries.If you look at the coastal Geology, they have found deep oil off angola Ghana and possibly Namibia with the KUDU fields as it Might ovelap borders.
This is not a stretch as Brazil fits nicely in to Africa's west coast,Geologicaly speaking. Petrobas Is also sniffing around the west coast of Africa with all their proprietary technology,covertly trying to land some choice alliances with other minnows who have acreages to exploit.
IMO there is Vast amounts of oil DEEPWATER West African coast line ( which is/will be proven up) from the GOG to Walvis Ridge Namibia.
We (our project in JDZ)is getting started as such other programs..as exploration in all the aformentioned AREA is still in early days.
IMO,there is much oil to be found over a vast area and WE are in the thick of it!! It's possible to hit dry holes while exploring,BUT none of ours have been confirmed as dry by the operator despite what we might hear(and yes I include reports unofficial from even ERHC)from 2nd /3rd party inuendo.
This whole coastline will be BLACK GOLD...some day!!!
Baz
P.S. the good news is that energy development momentum, towards West Africa,from GOG south,has the most action in and around OUR back yard!
http://img522.imageshack.us/img522/145/physicalafricaip1.jpg
Krom
Are you insinuating that we have free carries too?
Otherwise we would have to pay our 20% share of all costs due to our working interst.
This will change the results.IMHO we will not be able to garner free carries on marginal fiels.
Baz
sneak
this was allowed by the operator....as CNOOC could have released this.(whether they did or not).
Agreements differ in wording.We all would like more info,but rightfuly,it shouldnt be compared without both agreements in hand as well.
Bought 25k more over the last week of trading.
I believe-- (like Krom) that we have no information because
1- we had unqualified personell to deal with day to day drilling results(so they were useless to ERHC)
2-Only permitted press releases via ERHC by Operator(high degree of censorship)
3-strategic alliances being formed with proprietary information being withheld from general public(I dont see SNP/Addax opening up any Data Rooms with maybe the exception going to TOTAL?)
Krom didnt mean to speak for you in any way
Baz
ALL..MHO
Prince
LOL...maybe Leadbetter knew too much...
Can't have anyone who might enterpret possible good results on our side!
Keep the Sheeples out of the loop.
Baz
over 4 bill/yr @ $50. oil
Total, sees that payback is relatively quick for such a Major project as is AKPO.(even with all risks that were overcome)
AND it's still way worth it.
IMO..its critical that TOTAL comes in on the scene.
Impetous comes from all side here,Nigeria/Sao Tome(for fast track)..and even behind the scenes politicaly,France has mostly been neutral in voting on Human rights issues..UN and all.
Seems like Politicaly,France and China are a good fit,and,Nigeria/SoaTome would be as well.TOTAL's commitment is key and a welcomed drive chain for the JDZ development.
IMHO..still LONG
Buying when I can at these prices..Also..Trading 10% along the way ..as for the last 8 yrs (on the bench)..now on active roster.
GLTUA
Baz
Mark
we are very sorry for your loss.Our thoughts and prayers are with you and family.
Baz
Sorry for the misinformation...went to web site...and NOW they say assets will be the same either way....thats good to hear.
pete
I thought I read that we will be asked to deem our shares 1 way or another...either to AIM sub(SUB)..witch only will hold new listing with NEW assets..If im wrong sorry...but lets see it in print...i'll try to find the strategy from our CEO.ERHC (PARENT) will own all assets SUBS are set up for their own assets like for each block..IMO
Exactly !!!!LOL
We shall see their temperature!....me thinks there is a short in the wiring..
Krom
what about designation of% if not all to AIM and its marginal strategy...and thus giving up on ERHC and its assests in JDZ and EEZ.(I think the company said this).With ERHC.OB you get it all without giving up %,s Gambled..lol...on our core assets.
IMHO...I cant understand who would bet on marginal fields production in lieu of the calling the hand we are still playing and still chasing this pot!
Baz
Pete
Here is (OMO) my take on this AIM listing.
I,like a lot here,have been in ERHC for 7-10yrs or more.
Some have traded %'s ..some have not...but most here have supported this company over the years.
NOW...they want me to take shares to the AIM for seed money ...AGAIN ??? Why would I put my hard support shares in jeopardy, to a new company listed on AIM for marginal fields? NO WAY....but here is the kicker!
IF it came down to a must do ..take shares to AIM or sell? That would be a descision based on events to come.I see no reason for my shares to be put in jeapardy (more than they might be now)..when I( ERHC )parent company, would still own AIM listing and absorb possitive/negatives associated with IT.IF you thought ERHC was putting a ton of eggs in 1 basket ...THINK about what committing your shares to AIM listing might mean.
ALL the best to everyone...AMHO
Baz
that seems the way Midtier.
I would suspect TOTAL has seen many prelim drill results and would know the sands and what that potential may be...1 way or the other.
IF...(so far positive)..Total does go ahead with block 1 purchaseIMHO..this will be a vote of confidence for me and the JDZ..
EEZ is still unknown as to events.
AIM...I have trouble with the structure sounds dodgy.
Eremor and marginal fields?....IMO...pass... funds insufficient to support staff travel legal now marginal fiels? NO
I want to know drilling results before anymore descisions are asked of me to make regarding ERHC's..cough..business plan
PERIOD.
Still holding...and shortly trading a % regularly.
Baz
thanks TamTam
Its just not that easy...
there are mega ramifications if i read and cyphered Peters speaches....YUKKKKKK!
left me with a bad taste.
I'm holding my Parent ...LOL..just like cloning plants...MAMMA is still the most important.(unless its a cherry tree)
all the best
Baz
Hi TamTam
I have a question for you OR the board minds?
Why would anyone take the risk of taking AIM shares in lieu of .OB(US) shares...AS .OB(US) shares would still own the AIM company and all other assets.Giving up on the US parent would take me out of all IT's other possibilities,assets and the EEZ.
Now I know long term for EEZ and even JDZ...but...as these subsidiaries appreciate and ERHC.OB owns these,will this not have a possitive effect on share price? I think with Parent company ..you still own all ....ALL of WHAT is the question...LOL
BAZ
Hi Jim
think I read that CNOOC bought out a division of Repsol,so,they might have the analitical knowhow in processing and reprocessing seismics.
just a side .IMHO
Baz
Ponzi
that was cute...the whole context to that was that he admitted to being wrong about would be time lines ...he stated that and also STATED HENCE(this is where your absorbtion of the matter is asquew)that, he would not be predicting dates hence forth...look to operators(which incidently might eminate from ERHC) or STP for news.This being said ponzi...try to keep current ( you were better at dredging up old filings).
Good luck with your investment here.
Baz
Ponzi..
...less than semi OT:
this drilling program is more complicated than just drilling 1 well to similar depths.There are lots of 1 well programs that have /are taking months to evaluate ..some on land Iraq(see Westernzagros...and Gulfkeystone)...the first company after a 9 month drilling program 1 well, has asked for a 6 month extension for analyzing drill results.I really dont mean to be off topic here with other companies BUT PONZI...IMHO, you just dont understand the nature of the oil business.Namibia Africa.........(Energulf resources) with Sinteneftagaz and Namcor(namibian government co.),took over 1 yr for drill results tight hole...go figure.
But as Basil used to say to Cybill....".But you know best!"
now dont try to make this behavior something weird or such
THEY ALL DO IT ...when its in their best interest.
There are reasons why the drill results are not released and IMHO,they, are strategic.
Now full circle and back to square 1.
OUR company: (and i use that term lightly with you...although there is a reason a Mongo-like.. would still be here after several years?, but that is so far down my list of DD..maybe you know?)could still let us know something such as .WE will be going to PHASE 11 meetings ._________2010
or such positive statements "FROM THE COMPANY"
I think this is really what we shareholders need ...assurance from OUR leaders that we are going to be successful...NO BS!!
ALL ELSE is out of our control...we need to know we can TRUST our company as we have been included in SEVERAL ..ERHC FAMILY updates.
I know this is a run on post but hey Ponzi..
lets keep it real...okay Cybill?
BazilFawlty
emdyal
LOL...how long will anyone put their faith in STP...lol...(other than the oil engine treaement).
I know..I know!!..think positive
Baz
I will definately add at those prices...LOL
baz
all "big boys"?
or IYHO ...only the privaledged big boys?
My comment was trying to get to timeline to drill results...sorry..i'm not a very clear writer.
Your statements are relevent and up for debate as well as they are YHO.
thanks
Baz
LOL
IMHO...more like Fartnight...lol...now at 9+ yrs.
I think News is possible to come out a tad before final bids are accepted for EEZ....give the companies numbers as well as seismic info to chaw on.When would this be available for bidders?
when will bids need to be submitted by....and when will the DATA rooms be updated to present fluid numbers?
Otherwise how can the bidders know the correlations from seismics to numbers and hence put in an informed bid...OR maybe even want to participate based purely on seismics!
XOM...CVX?...Anadarko....didnt have all up to date numbers and 2 bailed maybe 3......SO...point is without relevent info...bidding wont be participated by many companies.Just the ones that hold the info ....or that might be allowed in?(money backed investors) and Extremely capable drillers and team that the Chinese can learn advanced technologies:as they do now on a global basis.
So if we are to see transparancy in the STP bidding EEZ blocks..which is demanded by outside orgs. IMF...maybe more?
Is it reasonable then to assume we should here drilling results this summer?..LOL
good luck all
Baz
Oilphant:
thanks for the update:ERHC's going private....LOL.
Since it being april 1 st and the fools day,it seems apropriate for the words of this song.
"Only Fools Rush In"....
an oldie and a goldie.
You really should have thought out your strategy better when you were born....Crying.. Wolf, Sheep, Tigers, Stars,isnt very amusing and extremely hypocritical ..to say it gently!
And drive by "oldies and goldies"...must even seem futile to you by now...so....why not try discord discussion on ERHC in detail rather than spraying your (BS) bullets as you pass by.
respectfully yours
Baz
TamTam
thanks for the pics of the cherry trees..fantastic!
Remember we are concidered the"ERHC ENERGY FAMILY"...so we have been told!
I am extremely curious as to what SEO...wants... expects...
knows..and above all PLANS for "his" company ...his baby orphin...nursed along ,standing from a crawl...closing in on it's puberty with bursting-out hormones.Every (g-d-father wants to see his child grow and acheive independence,and Succeed.
Most parents dont disown their children...but rather want their legacies of family and worth expand...for "IT'S own well being and preservation.
IMHO..SEO will not likely sell out "his" company completely.
At any rate we are all hanging on to his coat tails Like it Or Not!
Baz
ERHC comparison of sorts.
time line for drilling results not that out of wack
was just reading on another stock...and the skinny here is.
they have drilled a well that has taken close to 10 months on land khurdistan.
The Company has just asked the khurdistan govt. for a 1 yr extention of their phase 1 as they require the better part of a yr. to analyze and come up with a go forward drill program.This company BY COMPARISON has drilled 2 wells so far and both have had hydrocarbon shows. My point is 2 wells drilled and a 1 yr extention in most,to test analyze drill results.
This sounds familiar and not out of the realm of time lines.
I will say that interim drill reports were given every so often.
I have a link to their last nr just dont want to spamname of anothe company ...especially not in GOG.
"XXXXXXXXXXXXX on behalf of the Contractor Group, has made application to the KRG to extend the first exploration sub-period under the PSC for a period of 12 months in order to allow sufficient time to analyze the results of the Kurdamir-1 cased hole testing program prior to commencing future exploration activities," the company said in its 2009 Annual Information Form.
should also state could be Cayman Island registered...LOL
Most would say 1 well does not make for a commercial discovery "in most cases"
JMHO:...no proof not bashing ...lol
Feltang=a negotiating team of Nigerian high politico(Obasanjo,Abubaker,etc...including Offor.. quickly drawn on from the rolodex of unverifiable Nigerian companies).
IMO...both deals that needed immediate completion
Starcrest quick fix.....during awards.
Pioneer/Devon bailing...another favor called in.
I think these deals of immediate magnitude would have had to be pulled off at the highest levels possible.
IMHO this is not new practice in and about Nigeria/Africa.
"only the names and faces have changed"
Remember Abubaker's debical with Jefferson and all those companies that were investigated?
I think we were included in this as our books showed associated companies from a list of questionables.
We were easy to dissasociate from time lines...though until Jefferson was tried and convicted ,our files remained "SHANGHIED"
by the Feds.Nigerian Politico has felt those ramifications....BUT...there really is no world jurisdiction for most of that White collar crime.(not a racial statement).
the beat goes on
African Time
African Style
Baz's opinion