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thanks douginil
We have the new Prom Qeen all dressed up and the Star for now of the Fiels we Aquired %'s in.
Very good news for the future and back bone to a nice share price once the world gets good news with covid Vaccines. AFE will start some upward movement we hope and assume.
Cheers
Baz
here is a link to an article about that video. Seems the same information but with a few more details
cheers
https://www.businessinsider.co.za/luiperd-gas-hopes-total-2020-10
Tamtam you are welcome. There are hints of something down there as they are in test mode.
It would be nice to be involved in a big hit!
always hopeful
Baz
P.S. I sold some loser stock to put down on AFE after I saw this video.I have been following AFE, since AOI ( which I am heavily in on ) aquired a% of ownership in AFE.
Good luck to all......fingers crossed... expecting an oil / gas find here...hope it meets development quantities.
Hi douginil
nice to be able to be excited about oil exploration again....been too long !
cheers
AXC.....addax
cheers
Oldoil!
hi Oldoil
AXC addax
cheers..................
hello Tamtam ....etal
Not pumping here as I am a shareholder Of AOI and AFE....and AOI has a large investment in AFE.
Here is a link to a Video where the South African Oil Minister was INVITED by Total to the oil rig Drilling Luiperd as it is now at TD and casing installed and cemented . Total is now running Tests on this well and news is immenent ( within 2 weeks ).
Here is the LINK for all to view....thanks to HotDog01 .
https://stockhouse.com/companies/bullboard?symbol=v.afe&postid=31771316
Looks very promising. Oil Minister has thoughts on this.
GLTA
Opus X
thanks for the post and info.
I copied this to ERHC board at stockhouse.com to spread the news around.
cheers
SSC
Regarding ERHC
I don't think this will satisfy you, but hopefull maybe enough to give it a break . I will cut and paste this answer every time that post is reposted...lol
so here goes
1-NO
2-over 50%possibly but not 100% because we are also shareholders
3-tentative deal documented, IMO, not announced, for whatever the reasons
4 As you know Total is very adept in working with the most corrupt countries in the world and is courted by them because of Total's bargaining styles ...lol
5-said tongue in cheek-not believable, as a serious statement ------ facetious
6-NO I would not consider all stakeholders as strong hands as everyone has an exit plan somehow.
7-NO
8- seems unlikely near term
9- Looks like we might find out.....IF shareholders are part of going private
10- NO see # 1
cheers
Not market interest.... even if it is 10 to 20 people who tune in and post the question is WHY .... and for decades?
manuel06 Friday, 09/04/20 03:39:48 PM
Re: ssc post# 340715 0
Post #
340717
of 340717
ssc: I will take a stab at it! All, IMO
1 - 4, 7 - 10, no one knows much as ERHC is non reporting so far at this time.( this includes Bulls and Bears )
5 my opinion is that this was posted tongue in cheek!
6 very little volume % wise, and hard to unload at large quantities , so any large shareholders trying to sell large amounts or exit, will take a long time to deplete a large supply. Bids have seemed to retreat the share price limiting people from selling at 0003's or lower.
Bottom line no one knows and bets are down.
who ever sticks this one out including you ssc, as you have stated that you are a share holder, has held/hold for the most part has been included in the LONGS category by default, unless some are slowly exiting and hold small volumes of shares, and maybe are taking a loss.
Daly posting on things no one knows about is a waste of time, BUT it sure displays a lot of interest in ERHC which poses these questions: why is there so much interest ( bears and Bulls) in a 000 stock that is non reporting? Do you think there is justification for this behavior? Can you explain why? In the minds of bears and Bulls there must be some kind of payoff to be here over several years if not decades ?
ssc: I will take a stab at it! All, IMO
1 - 4, 7 - 10, no one knows much as ERHC is non reporting so far at this time.( this includes Bulls and Bears )
5 my opinion is that this was posted tongue in cheek!
6 very little volume % wise, and hard to unload at large quantities , so any large shareholders trying to sell large amounts or exit, will take a long time to deplete a large supply. Bids have seemed to retreat the share price limiting people from selling at 0003's or lower.
Bottom line no one knows and bets are down.
who ever sticks this one out including you ssc, as you have stated that you are a share holder, has held/hold for the most part has been included in the LONGS category by default, unless some are slowly exiting and hold small volumes of shares, and maybe are taking a loss.
Daly posting on things no one knows about is a waste of time, BUT it sure displays a lot of interest in ERHC which poses these questions: why is there so much interest ( bears and Bulls) in a 000 stock that is non reporting? Do you think there is justification for this behavior? Can you explain why? In the minds of bears and Bulls there must be some kind of payoff to be here over several the years.
Dr.J
always a slam dunk!
look again under Eland or Elcrest.ERHC did not land a property as they could not afford the money for purchase. Ponzi you missed the point as I was saying that your post about ERHC stepping aside for Starcrest in the JDZ Sao Tome was incorrect as there was nothing happening there with ERHC and Starcrest. There was also nothing happening with ERHC in regards to SHELL's properties as per the article you were excerpting from. It was about SHELL selling of IT's unwanted Nigerian marginal properties....and NOT ERHC and the JDZ
ponzi... Starcrest and Eland bid for some of Shell's properties that they were selling to get rid of.
Most of them were marginal for Shell but still valuable to other companies. Eland and Starcrest formed ELCREST to work the marginal properties they acquired. ERHC was not needed as that would Dilute the %'s for ELCREST and ERHC had nothing to offer.They had no Oil expertise as Mr. Blair was ERHC's last bastion of oil experience at that time. Mr. Blair left ERHC to found and head up ELAND oil. I guess Mr. Blair didn't want to get into any unscrupulous behavior as ERHC was also bidding on marginal properties.Eland was using SEO's muscle to get their bid looked at as it was submitted near deadline. Mr. Blair saw ERHC as a conflict of interest as SEO was the Majority shareholder of ERHC.
Ponzi show me where ERHC stepped aside for Starcrest to get JDZ %'s or properties.
thanks
all my recolection of earlier years
Ponzi, that excerpt of an article about Shell's sell off of some of it's Nigerian properties has nothing to do with the JDZ of Sao Tome and Nigeria, all offshore and out of Nigerian exclusive waters. You will have to post the whole article and show where ERHC is mentioned in any deals to step away from JDZ %'s or Properties for Starcrest in any deal. That article was from 03/09/2011.
I can wait for your proof.....good luck
Manuel
P.S. this is all opinion and not anything that occured
see below
ponzi_implosion Thursday, 03/10/11 11:31:14 AM
Re: kingpindg post# 237186 0
Post # of 339926
Why would SEO not direct the OML40 business / contracts to ERHE instead of Starcrest. If the block were to be sucessful, then that might bump ERHE's share price and since he holds over 300,000,000 shares, that mght be a good thing.
Instead he has apparently kept the deal to himself. I wonder why?
Regards
P.S. this is all opinion and not anything that occurred.
Tamtam
hello there.That is what I thought as well, and can't find a link. I suppose Ponzi can put the link up for all to see.
after reading ponzi's post I wish him a long, long, long, long, long, search.
Ponzi can you provide these details of ERHC stepping aside in the JDZ to let Starcrest in on some rights. I remember Starcrest wanting an MOU with ERHC and ERHC looking for some %'s in Nigerian Marginal fields like Elcrest 's plan of attack for oil development.
Thanks
ponzi
there would be word from the JDA or Sao Tome Oil Minister about approval granted to ERHC to sell it's rights to another Company. Just because ERHC is silent, would not impair the JDA or Sao Tome Oil Ministry to approve or disapprove a buyer for ERHC rights.
https://stockhouse.com/companies/bullboard?symbol=c.tgif&postid=31294867
ERHC discussions about short selling! an article about Canadian systematics
A very interesting read"
MARK RENDELL
THE GLOBE AND MAILJuly 19 at 16:25
ETA move to bring Canadian short-selling rules in line with United States securities law could reverberate through Canada’s junior capital markets as regulators look to limit a controversial trading strategy used to finance high-risk companies, notably in the cannabis industry.Earlier this month, an Ontario government task force recommended banning a sophisticated short-selling technique used by hedge funds active in Canada’s small-cap public markets. Short selling is a bet that a company’s share price will drop.In anticipation of a financing deal, a hedge fund will short a company’s shares, then buy into the deal to cover the short position, acquiring a block of newly issued shares at a discount to the market price.The technique allows funds to earn a quick profit with relatively little risk and makes it easier for investment bankers to find lead buyers for speculative deals. Critics, however, allege the technique often pushes the boundaries of securities law, as investment bankers, company insiders and hedge funds work together to facilitate the short position.“If this type of short selling is done, and it’s done intentionally with the knowledge of an unannounced transaction that they plan to purchase on, then there is an extremely good chance that it would be violating existing insider trading rules and market manipulation rules,” said Cindy Tripp, a former managing director at GMP Securities and member of the Ontario Capital Markets Modernization Taskforce, which is overseeing a review of the province’s securities laws.“We were pretty surprised by stakeholders speaking to us about this sort of being routine and being accepted in certain market segments,” she said. “We were also struck at how much potential pressure there is on issuers to go along with this practice in order for them to raise capital.”In a wide-ranging report published two weeks ago, the task force suggested prohibiting investors from participating in a financing deal if they have previously shorted the same securities. In practice, this would likely involve a restricted period ahead of a deal, similar to what exists in U.S securities law, Ms. Tripp said.Canadian rules already prohibit insider trading. However, it can be difficult for regulators to prove that a market participant intended to break the law, Ms. Tripp said. “The task force is looking at this in a simple way: How do we simply stop this behaviour?”The change could have a significant impact on deal-making in speculative sectors such as junior mining, cannabis and psychedelics, industry insiders say. It would make it more expensive for hedge funds to trade around deals and could force investment bankers to rethink how they source capital for high-risk companies.This kind of transaction has a long history in Canadian junior markets, which are dominated by speculative resource extraction companies, and it became widespread during the cannabis financing boom from 2015 to 2018 as hedge funds recycled hundreds of millions of dollars through multiple deals.“There’s sort of this broker, hedge fund complex that was built up over the past many years, precannabis,” said Keith Merker, former chief executive officer of cannabis company WeedMD Inc. “It was, ‘I’ll scratch your back, you scratch mine, and we can do a lot of deals and make a lot of money.‘”Mr. Merker said he supported the move to limit shorting into deals. At the same time, many speculative companies won’t get funded, for better or for worse, if hedge funds can’t execute these trades, he said.“On the back of that capital that was quite frankly recycled through the [cannabis] industry time and time again, there was a lot of infrastructure that was built. Some of it’s great infrastructure and it’s going to be the backbone of the Canadian industry going forward, and some of it probably shouldn’t have been built,” Mr. Merker said.Richard Carleton, CEO of the Canadian Securities Exchange, said the task force recommendation is a direct response to what happened in the cannabis space. He did not, however, think that the rule change would have much of an effect on small-cap markets in the future. The cannabis sector was uniquely fertile ground for investment bankers and hedge funds to deploy this strategy on a marketwide scale, he said.“You had to have a sector that was liquid, because you had to be able to take on a short position of $40-million to $100-million,” he said. “And you had to have an exuberance over the valuations such that management didn’t really care that somebody had been shorting the hell out of their stock and driving the price down, because they just sort of thought this is just the give-and-take and it will rebound.“It may be the only circumstance in my 32-odd years in the capital markets where all of those conditions were present to be able to make it work,” he said.Ms. Tripp said the proposed rule should help deter inside trading and market manipulation in junior markets. As to whether it will damage small-cap fundraising, she said that other task force recommendations should help offset the effect of the short-selling proposal. These proposed changes include expanding who qualifies as an accredited investor, removing the four-month wait period after a private placement and making it easier for companies to premarket deals
yes the 2 - up to 15% options were for the EEZ...my mistake .the jist of the post was about %'s /PSC's and Unlicensed blocks.
IMO, IF, there were any %'s outside of a free carried position, the %'s would have to be a paid % as per the JDZ rules surrounding those up to 15% options ERHC was awarded. Also those options had to be applied to a Block at the time of the PSC on said block.Not sure why we wouldn't have been notified /advised of what the PSC said about ERHC and Block 11 as it would be in print. the Block would of have had to be an unliscenced block at the time as well.
still holding my shares here!
Baz
https://www.offshoreenergytoday.com/erhc-transfers-sao-tome-and-principe-block-11-to-kosmos/
Scarbender307
I agree that this deal will be a boon to AOI as it becomes a producer, taking in revenue. We will be going from just explorer to both. this deal is transformational to AOI, and we hope the share price rises to reflect our position we will soon be in.
good luck to all AOI shareholders....good strategy, good backing by the Lundin group,as this coming year is looking up!
Baz
Scarbender307
This deal will not be 50% of the fields.I think it will be 50% of POGBV's Share, Petrobras will sell it's 50% share.
this would be a 8% indirect interest in oml 127 and an 16% indirect interest in oml 130.
Share, Petrobras will sell it's 50% share held by POGBV. This would be an 8% indirect interest in oml 127 and an 16% indirect interest in oml 130.
This might mean 4% OML 127 and 8% OML 130 indirectly to AOI....not sure but this is how I read this.
excerp from my previous post below.
This follows Vitol and Delonex decisions to withdraw from the previously announced purchase of 50% of the share capital of POGBV. Consequently, Africa Oil will be the sole acquirer of the 50% interest in POGBV with Vitol and Delonex exiting Petrovida. View PDF Version.
The primary assets of POGBV are an indirect 8% interest in Oil Mining Lease ("OML") 127, which contains the producing Agbami Field, operated by affiliates of Chevron Corporation, and an indirect 16% interest in OML 130, operated by affiliates of TOTAL S.A., which contains the producing Akpo and Egina fields.
https://news.africaoilcorp.com/releases/entry/122769
Nov 01, 2019
Africa Oil Enters Into Amended Agreement to Increase its Interest in Deepwater Nigeria Fields
View News Releases in PDF Format
VANCOUVER, Nov. 1, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq Stockholm) – Africa Oil Corp. ("AOI", "Africa Oil" or "the Company") is pleased to announce that it has entered into an amendment to the share purchase agreement (the "Amended SPA") signed on October 31st, 2018, between Petrobras International Braspetro BV ("PIBBV") and Petrovida Holding B.V. ("Petrovida"), the company formed by the consortium of Africa Oil, Delonex Energy Ltd. ("Delonex") and Vitol Investment Partnership II Ltd. ("Vitol") to acquire an ownership interest in Petrobras Oil and Gas B.V. ("POGBV"). This follows Vitol and Delonex decisions to withdraw from the previously announced purchase of 50% of the share capital of POGBV. Consequently, Africa Oil will be the sole acquirer of the 50% interest in POGBV with Vitol and Delonex exiting Petrovida. View PDF Version.
The primary assets of POGBV are an indirect 8% interest in Oil Mining Lease ("OML") 127, which contains the producing Agbami Field, operated by affiliates of Chevron Corporation, and an indirect 16% interest in OML 130, operated by affiliates of TOTAL S.A., which contains the producing Akpo and Egina fields.
It remains the intention of the Company to complete the transaction on the previously announced terms, subject to all necessary regulatory and third-party approvals, including the Department of Petroleum Resources ("DPR") in Nigeria.
Africa Oil is also pleased to announce that it has agreed the terms of a credit committee approved term sheet with BTG Pactual ("BTG") for a guarantee and loan facility ("Bridge Loan") of up to US$250 million. The Bridge Loan together with the available cash provide the necessary funds for the Company to cover its POGBV deal completion payments and 2020 budget.
Africa Oil President and CEO Keith Hill commented, "Africa Oil considers this to be a unique and transformational opportunity to acquire an increased interest in world class producing assets operated by Chevron and TOTAL. We remain committed to completing this acquisition and look forward to working with Petrobras and all stakeholders to accomplish that goal."
Krom
You were comparing the Sinopec/ Addax buyout with ERHC's position?
Sinopec bought Addax for 4 to 5 times their ( 5 x) $ 10.00 listing, or,
(4 x) premium to $ 12.13 price at buy out deal ($ 52.80 per share ). That would be a 400- 500 % gain....and that was huge and oil, and oil companies were in favor in the market at that time. Nice gain on my money there. But the Gains for ERHC,you are implying, or were implying is an Astral fantacy....to the moon Alice!
Most here would be extatic to get their invested money back! IMO
Baz
https://www.reuters.com/article/us-addax-sinopec/chinas-sinopec-to-buy-addax-for-c8-27-billion-idUSTRE55N59I20090625
News Release Issued: Aug 12, 2019 (2:00am EDT)
Africa Oil Announces Major Oil Discovery Offshore Guyana
VANCOUVER, Aug. 12, 2019 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) … Africa Oil Corp. ("Africa Oil" or the "Company") is pleased to announce a significant oil discovery on the Orinduik Block, offshore Guyana. The Jethro-1 exploration well was drilled by the Stena Forth drillship to a final depth of 14,331 feet (4,400 meters) in approximately 1,350 meters of water. Evaluation of logging data confirms that the Jethro-1 is the first discovery on the Orinduik licence and comprises high quality oil-bearing sandstone reservoir of Lower Tertiary age. It encountered 180.5 feet (55 meters) of net high-quality oil pay in excellent Lower Tertiary sandstone reservoirs. The well has been cased and is now awaiting further evaluation to determine the appropriate appraisal activity. View PDF version
The Jethro-1 well confirms the continuance of the petroleum system onto the Orinduik Block, up dip from the prolific discoveries on the neighbouring Exxon operated Stabroek Block. The well has resulted in a mitigation of risk in terms of the presence of quality reservoir sands, seal and trap. There are multiple drilling targets on the block with similar geophysical characteristics and the Stena Forth drill ship is moving immediately to its next target, Joe-1. The Joe-1 location is a short move to a shallower target, and is expected to spud mid-August.
Keith Hill, President and CEO of Africa Oil, commented, "This discovery is a further confirmation of our exploration portfolio strategy. For a limited financial commitment, we have been able to gain significant exposure to some of the hottest exploration areas in the world. First with the Brulpadda-1AX well on Block 11B/12Boffshore South Africa and now this major oil discovery announced today at Jethro-1 on the Orinduik Block, offshore Guyana. The Company has assembled an equity investment exploration portfolio that is second to none in addition to our world class development/production assets. We look forward to additional discoveries in Guyanaas well as the drilling of the massive Venus prospect and at least two additional low risk prospects in the Paddivesse Block in South Africa in 2020."
Partners on the Orinduik Block comprise Tullow Guyana B.V. ("Tullow", Operator, 60% Working Interest ("WI"), Total EP Guyana BV ("Total", 25% WI) and Eco (Atlantic) Oil & Gas Ltd. ("Eco", 15% WI). Africa Oil holds an approximately 18.8% equity interest in Eco
ERHE hits 0.001
IN CANADA...lol
I'll be waiting for all the gosintas, me and Jethro Bodene.
thanks
Hey ERHE just hit 0.001
IN CANADA...lol
YW Scarbender307....of course all my opinion.
when are the financials out?
Tamtam
Also it appears AOI are diversifying more towards offshoe concessions.
They are taking advantage by getting into these african offshore Blocks by buying %'s from the first movers and their foresight. Very smart .....they need oil or gas hits.
Led Zeppelin
Dazed and Confused....shorts or no shorts...lol
Krom
Why can't the circle of trust get the straight goods from the company ?
The circle claims their votes can change the outcome of some issues if they are voted on, so ...innuendos of what you think this or that means has little bearing on what the actual facts are. I just sit and wait with my shares I have left, which is way more than I started with. Meanwhile the Circus on this board continues, from all sides.
Good luck with connecting dots...
Good luck to us all with ERHE
AOI farm in to Blocks 3b/4b offshore South africa
https://news.africaoilcorp.com/releases/entry/122762
Tamtam
both blocks 11A and 11AA are both OPEN for operators and Liscences.
You have to put your cursor on the blocks and tap for details. see map in Kingpindg's post....
good luck
Baz
hi sneak
both blocks 11A and 11AA are both OPEN for operators and Liscences.
You have to put your cursor on the blocks and tap for details. see map in Kingpindg's post....you seem big enough to admit fault too.
good luck
Baz
and income back dated to when the deal was bought,( if consumated by Brazil), as it was layed out when the deal was formed.