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.
Platina yes I think the presidential election is different. I think there is an election end of July with Inauguration around end of august or early september.
I think fall is right, most likely early september.
Platina lol I guess exxon may be flexing its muscles. Next Inauguration likely Aug 2006
PArt of the issue on OMl 130 are the figures.Like usual the oil industry keeps things tight,but many people think the area is highly prospective with people valuing egina and egina south close to a billion barrel and Akpo close to a billion barrel with gas from the region and dombolo and preowei yu could have a 3.5b boe block.
the much I do know is that there is a cost oil of about 80% before so all the drilling cost and and other cost including bonus will be collected 80%? before taxes to the JDa that may be a reason. but the return on I for deepwater after that cost oil is about 20% which is a good way to earn money for wall street.
I think profit on a 25 dollar basis could be 20%. but ERHC may not get revenues before cost oil. If price goes over 25 I do not know the exact. However as a value play I think the 22% 10 17.7 %
Maybe hints of
Either saying the oil straddle block two or the block has lots of accumulation and the reservoirs are closely knitted together like Egina?
I think the 800 feet. That may be all you can go by even if Chevron decides to make an annoucement. Chevron usually says little about the reserves at least since 2003. Why 800 because if it is true the field thus straddle block two it can be huge because most likely Chevron will care more about the net reserves for block one with the potential for a billion barrel in block one then the field could contain about two billion barrels or more. The best way to go if it is true it straddles block two is to measure by the 800 feet or so.
I doubt it.lt is expensive to keep four maybe one over 10,000 feet of water and others around 1500-5000 feet.
Upstream as some news, maybe the same but worth checking
Julius it is oil drilling. Actually according to Chevron opl 250 had one prospect in the block the others were small not up to 500mmbo(they actually have a 500mmbo base). So they drilled it in 2004(Iroko) and it came up dry. It was news a year ago and the potential of the gog.
However the most prospective area maybe the Abo(Agip) and Doro/Akpo zone, ERHC is in the right mix of things. I assume at least block four will contain discoveries, the source rock has oil accumulation around the akpo, doro etan area so I think the propsects are strong
info on opl 214 is mix i heard discovery and later temp abandoned.
why did you mention 13 hits? in non in Africa?
Meridian do you have any info on Exxon operations in Nigeria --opl 214
Meridian great job you have been doing
Any BM?
balance Emeka Offor paid $6m for his 45% ownership?
Jmex then what can you talk about can you talk about other wells that your company is not involved in(partly sarcastic about the sececy of the oil industry in NIgeria) oil contributes most of the government revenues personally I think secrecy should be PARTLY thrown out because of that.
Jmexico after annoucement can she talk to you about the well?
My issue is you seem to support the idea that erhc is gave back its options on 5&6 but you never mentioned it before even though you mentioned that sinopec has been awarded operatorship.
..... I don't believe they own something. But you earlier said conoil is bribing sao tome officials. My take is that they want an effective Nigerian firm there and it is conoil and I think they will sign it on 14 hopefully.
Meridian why not answer my question. I buy your notes. But not much. If conoil did not pay then they are heavily conencted and they can't let go of their 20% without consideration
Meridian conoil paid, you are only shattering the conception that conoil is not connected if they did not pay then they are heavily connected to people in the nnpc because many people are having their licenses revoked even after posting some bonds
jbof block one another month? I thought they are there or close. I think they are there
Snow One word total nigeria but they were never involved in the bidding process
Also the region below Nnwa-doro seems to be the most generative in terms of source rock. Especially with the discovery of Etan and the potential dsicovery of Obo. fast track in block 2 is a no brainer espcially if obo is close by. Watch out there could be more governmet snooping in the area.
Nigeria needs the psc
Information on some wells
OPl 256 tari abandoned
opl 322 discovery
opl 245 discovery
opl 214 temp abandoned
opl 214 temp abandoned?
opl 318 abandoned
Meridian since they are close to or have reached TD what is your view about the find and the extent of the find?
Alwright not really the case, I liked comments made by Meridian but I just feel that there are some things. Like orignally conoil was interested in operatorship, why? they have a good block, they will have two huge blocks, one in shallow, if there were interested, Nigerian would not have allowed. So conoil maybe causing trouble for what gain? Unless a deal was going on(chevron) so where is the 20 or 34% of conoil going to Chevron?
Love meridian
Homeport I think he/she knows a journalist or maybe a journalist. But like you said he/she throws something in the air that is close to a fact but leave the real analysis alone. She said conoil is the problem why are people now saying it is between Sao tome or the JOA. BM said conoil was interested in signing, Meridian says soemthing different. Meridian says conoil did not pay bonus for opl 257 which I think they paid. Me thinks Meridian may be biased but has good info
I am not against Meridian and I support her and her information and hopes she continues to give info but somehow when you have info it may be good to explain the route you take to get to the destination.
Meridian is the late Waziri mohammed behing Godsonic and the new percentage for Chevron to take the bait
Rig is changing its report here and there it seems the rig will leave block 1 this month and we may hear some news by the end of the month.
Snow what are the rumours on block 2 I forgot most of them. Like what % is Sinopec offering? or any amount paid to get into the block. If it is true there is a discovery, did ERHC jump the gun to soon for the MOU(although it had litle choice) because Addax paid $35m to get to a block with about 50-100mmbo.
It could be good news for Erhc. If they had the contract for five or six months earlier but changed it. Maybe they don't need to drill other areas until "appraisal"
Fishdog I saw Exxon's name at transocean's rig status report. Also Petrobras will drill a well with the rig around august.
Platina Exxon may get that rig soon
walldog yeah I mentioned up to a certain point. They do have a way of coming up with cash (i.e Telecom) he owns a telecom license with about 8m subscribers by the end of the year or more if his fixed wireless is okay. he will take the cashflow from there into the oil project. But I doubt he will entertain the idea of operating two oil blocks and another in the shallow sector. I doubt it could be true
Resources for what?
I don't think conoil can win operatorship nor do I think that is the serious issue(unless Obasanjo is not aware)
Conoil though do have the resources or can get the resources to operate the field up to a certain point
You have to look for insider info on things like this. COnoil is to me is powerful. They have strong links with some NNPC people. They are the leading Nigeiran oil producer and I think they will have links with powerful people in the cabinet including Obasanjo
Like I said an insider. Beyond that Adenuga is linked with a powerful northerner, he has links with Anenih(a hartman) and he is becoming a financier. He is also from the same state as the president
Maybe but conoil may be more powerful now and in the long run than Offor(though offor may have an insider)