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.
Well, Well Middy, way to go. It is about time you stepped up to the plate and hit the ball, instead of chattering from the dugout.
You can catch more bee's with honey, that is for sure.
There is no challenge in being negative, Try and be upbeat and positive, that's the real challenge and you did it.
Have a Great Day!
Sneak
He should change his alias to "The CEO is not Proven".
Sneak
The Biggest Obstacle preventing this oil play from being a successful venture is:
1) The number players involved in the JDZ.
2) The amount of estimated hydrocarbons, 5 billion barrels.
3) The number of targets in the three blocks (18).
All of the above would signal low return in exchange for the amount of capital that would be put to work bring the hydrocarbons to market. With 18 possible target yielding less than 300 Mbls per target and a multi-billion dollar price tag for development divided by the many players involved and the JDZ tax base, One can see why SNP may want to put the breaks on the JDZ as it now stands.
I have said from the beginning that the smaller fish had to be plucked from the pond before any real development took place and now you see why. Exxon, Anadarko, Addax and Chevron could see the hand writing on the wall. Total came in for their own interest as it relates to it's location to Akpo. SNP got the wake up call when block 2 was less than stellar.
As for ERHE By the Grace of God we may have a free carry, but in no way are we out of the woods. I still believe that block 4 holds the Mother Load, but only time will tell, SEO and Company have not headed for the exit and neither shall I.
Have a Great Evening!
Sneak
Breaking News: The COE responds to a request from a group of dis-enchanted stockholders for the release Sensitive and Classified Contractual Information about Drilling Results, Updated NASI Report and Progress in the EEZ Blocks even if this Release would Scuttle Any and All Deals in the Workers, Just to relieve their Troubled Minds.
FYI: There seems to be a whole lot of negative conjecture being posted about Chrome taking out ERHE on the cheap (pennies). Maybe the following article can give some here reason to pause, take a deep breath and breathe.
U.S. Department of Treasury's Committee on Foreign Investment in the United States (CFIUS)
CFIUS[12] reviews the national security implications of foreign acquisitions of U.S. companies.[13] CFIUS is an interagency group composed of major Executive Branch departments, agencies and offices, including the Departments of Defense, State, Treasury, Commerce and Homeland Security, which reviews foreign investment submissions under the authority of the Exon-Florio Amendment to the Defense Production Act of 1950.[14] This act grants the President authority to suspend or prohibit any foreign acquisition, merger or takeover of a U.S. corporation that is determined to threaten the national security of the United States. The CFIUS process generally is initiated by a voluntary notice filed by the parties to an acquisition, merger or takeover.
Oil is a National security concern! Congress has stepped in on ERHE in the past with the Homeland Security Investigation. We all know what happened next.
Maybe JIM LONG could chime in on this legal matter.
Vineseeker: It is my belief that SEO AKA Chrome can not get the shares back from the Nigerian Government. Chrome may get some NEW shares sold in the Shelf offering by buying some of the shelf via Elcrest. The Nigerian Government will sit on those Chrome shares taken from the collapsed bank until any deal that may come forward in the future. Remember If the JDZ was a total loss, they would have sold out to the highest bidder. But the Inner Circles of the Nigerian Government has an idea of what they could be worth and will wait it out. Any deal that short changes Chrome also short changes the Nigerian Government. That is one powerful card to be holding in ones hand, In this high stakes poker game being played over one of the most highly prized hydrocarbon regions on the planet.
What more Ponderance again? Sorry!
Have a Great day :&)
Sneak
Pete: Elcrest may makes a $218 million share purchase of ERHE's Shelf registration at .22 a share or about $48 million dollars. Hence PN has his $50 million and buys into OML40. Chrome lost 60 million shares to Atlantic Bank and will never get them back, However Chrome can get 109 million share of the 218 million shares sold. Chrome owns 50% of Elcrest so SEO gets more shares than he lost at the same price at which he lost them. The 60 million shares that Atlantic Bank had at .22 a share is about $13.2 million dollars.
If Elcrest buys the shares of ERHE, Eland Oil will have a 12% stake in ERHE and Blair sits on the board.
Chrome also has an additional 12% stake in ERHE or 47%. HMMM.
The New NASI numbers must of been better than the old NASI numbers, Mr. Blair sure likes them and has taken a seat at the table to watch over Eland's share.
SEO and Friends have a number in mind in order for them to exist.
That number must be lower than they want, Hence the additional shares may gets them to that number.
I will call it $8.00 a share or $7.6 billion. The Proven JDZ reserves will have to be twice the old NASI numbers.
To all board members: This is not your typical run of the mill Oil and Exploration Company. This is a Real Estate Holding Company Masquerading as One. Just like in any Real Estate play, Once the Highway Interchange gets built, the price of that Real Estate Sky Rockets.
Total Fina is going to start and build the foundation for this Highway with the Block #1 Exploration and Appraisal well scheduled to start later this Year. Once this proves successful the Interstate Infrastructure is going to progress on into the rest of the JDZ.
Some here on this board would have you believe that all is lost and that the Keystone Cops are running this company. Those that gnash their teeth and bash this company have Alternative Motives.
They prefer to take the wind out of every sail and down play every chance this company may have underway to get this show on the Road.
Sorry, Just More Long Winded Ponderance on My Part Again.
I have been restricted to One post a day.
Keep the Faith :>
Have a Great Day.
Sneak
That could happen If Elcrest exchanges or sells some proven reserves for shares in ERHE!! Image that The Chrome Group gets back their shares via Starcrest AKA Elcrest. HMMM!!! Please do not count out Mr. Blair's Eland Oil. The JDZ Must be a REAL COMPANY MAKER!! Listing on the AIM and Moving to the AMEX will get rid of the Ankle Bitters.
Oh, Sorry, Just More Ponderance on My Part:>
Have a Great Day
Sneak
PN claimed that ERHE needed to raise $50 million and now we learn that OML40 sold to Elcrest for $154 million. I looks like ERHE may get 15% of that block. The production facilities are all in place.
OML 40 is thought to have been producing at about 3,000 b/d of oil before Shell shut it down in 2006 when the export line was damaged by a militant attack.
ERHE could earn betwwen $7 to $9 million a year once the pipe line is repaired.
ERHE'S proven reserves should be about 50 million barrels.
No Mid Fearing Oil in this Marginal oil field play here!!
Just more Ponderance on My Part.
Have a Great Day:)
Sneak
Watch for Elcrest Exploration & Production. I shall refer to them as EEP. They may sell a slice of block 40 to ERHE for cash or a JDZ % swap for 10% of the 45% they have in block 40. When PN said they were not bidding on block 40 he was correct. Now after the deal closes, Look for the above scenario. Now with proven reserves, They may get listed on the AIM by years end.
Sorry, Just More Of My Ponderance Again.
Have A Great Weekend:)
Sneak
STR: PN (Prior Head of the Nigerian Senates Legal Counsel) was placed on the ERHE team in order to watch out for the Nigerian Elite who operate behind the curtain and help set up the JDZ and have a big say in the Chrome Group. When SEO actions became a SEC concern. SEO was replaced by their Watch Dog (PN) in order to protect their interest in this oversight.
Sorry, Just some Insightful Ponderance on my part.
Have a Great Day.
Sneak
Tam, Thanks for the PM. I may have been misunderstood about the board moderator. I was speaking of the person you named. Since anything I post can and has been considered off topic, I was being Coy about who I was speaking of. In any event it does not matter much any more, The attacks on ERHE continues and the share price is reflective of that. When all the ducks get lined up, Then we will know the rest of the story. I would not be a bit surprised if any relevant information about drilling results, phase 2, blocks 5 & 6, EEZ PSC, marginal fields and an AIM listing is held close to the vest until the release of such information is water over the dam and thus reduce the constant distraction this CEO and BOD have to deal with in the day to day operations of the company.
I have been in this stock for a long time, It is not the CEO or the BOD fault that I have not sold yet. I have a long term view of what this oil play may yield. I can wait. If some here can not realize that they may have made a mistake about purchasing this oil play so early in it travels, when it appears the long ride still has a few years before it arrives at it destination, I would advise them that they should consider an alternative move and stop the constant attacks. I for one seem to be benefiting from the depressed stock price, as I continue to add to my position.
Life is Beautiful When One Has No Worries:@)
Have a Great Evening!!
Sneak
I could not agree with you more!!
Have a great day!!
Sneak
Middy, For God's Sake Man, This company is not listed on the S&P 500. It is listed on the B.S. OTC. Pete is watching or shall I say babysitting this stock play until the Powers that be get what they want. ERHE has no control over anything that goes on in the blocks. They made a deal with SNP and WE have to live with it.
"TO ALL HOLDERS IN THIS STOCK PLAY", IF YOU CAN NOT STAND THE HEAT, GET OUT OF THE KITCHEN!!!
Sneak
DG: The Clock is Ticking!!
China has its second largest demand on record.
http://www.rigzone.com/news/article.asp?hpf=1&a_id=105405
Sneak
This companies future is tied directly to the Nigerian Power Brokers at call the shots. Homeport's find about how the Shell deal has hit a wall, should clue us all in as to what is yet to come. It is my belief that all the remaining shares yet to be issued maybe sold, not to raise capital, but to allow time for all those interested (Power Brokers) to get aboard the Train before it leaves the Station.
Middy, Stop generalizing and post the letter that you submitted to ERHE headquarters that got the SEC to call You as you claim!! I believe that most here on the board are interested in seeing it.
Sneak
Middy, how about you posting a copy of the entire letter for this board to see and not your summary of what was in the letter?
Sneak
To consolidate the Strange Hold on the smaller fish in this hydrocarbon play in order to get them to sell out so the prospects have a Bigger return for those left in the Game.
Have a nice day.
Sneak
SacOil Announces Proposed Admission to AIM
Tuesday, March 08, 2011
SacOil, the independent Pan African upstream oil and gas company, today announced that the London Stock Exchange ('LSE') has issued an announcement on the proposed admission of the company's ordinary shares to trade as a secondary listing on the LSE'S Alternative Investment Market ('AIM'). The admission has been approved by the South African Reserve Bank ('Reserve Bank') and is set to take place on or about 8 April 2011 (the 'Admission').
Robin Vela, CEO of SacOil commented:
'We are delighted that we are moving to a secondary AIM listing with such speed. Our appointed advisers have been exceptional in their support and efficient administration of this next crucial step for SacOil's aggressive growth plans. We are on track to building SacOil into a pan-African independent balanced portfolio upstream oil and gas company.'
As communicated in October 2010, SacOil does not intend to raise capital upon the Admission and has sufficient working capital to service its current activities for at least 12 months after Admission. The company will list 674 090 410 SacOil ordinary shares of no par value on AIM and begin trading with an anticipated market capitalisation of £156.0 million, approximately R1.7 billion. According to Vela, the board intends to attract new UK institutional investors and raise its public profile, to ensure that it remains sufficiently capitalised to further develop current exploration projects and execute near production and producing asset oil and gas transactions it has in the pipeline.
SacOil will continue with its stated strategy of targeting the acquisition of discovered but undeveloped or previously producing but now shut, near-term producing and production upstream oil and gas assets on the African continent. 'The board believes that the indigenisation laws in Africa coupled with the departure of certain oil majors from these oilfields provides opportunities for emerging oil players, such as itself', explains Vela.
The South African based company has made transactional headway in its operating regions in recent weeks. In the Albertine Graben in the DRC, a Presidential Ordinance approving the Block 3 production sharing agreement has been issued and its 50% subsidiary Semliki has the right to apply for an exploration permit after the fulfilment of certain contractual obligations. The company also announced on 4 March 2011, that it had reached agreement with Total, the Paris based Oil and Gas supermajor, for Total to farm into the asset and become its operator.
In Nigeria, SacOil has recently entered into its second farm-in agreement, OPL 281, following the conclusion of OPL 233 with Nigdel in December 2010. The OPL 281 production deal, announced on 1 March 2011, relates to the 40% acquisition by SacOil and its joint venture partner Energy Equity Resources ('EER'), of Transnational Corporation of Nigeria PLC of Nigeria ('Transcorp')'s 100% participating interest in the Production Sharing Contract ('PSC') in OPL 281.
Sacoil's 20% direct interest in Transcorps' participating interest in the production sharing contract for OPL281, will expose Sacoil to a peak production potential of 30 000 barrels of oil per day as reported by independent competent persons, Tracs International. Together, the parties will develop the OPL281 for hydrocarbons.
Have a Great Day
I have believed for the beginning of my investment in this company that it will never be a regular oil company as some here think. The lack of progress toward that goal went out the window with the federal investigation into this company. It was a real eye opener to those in charge. This company will be sold when the time is right. This is the true business model. Anyone who believes otherwise is fooling themself.
Have a great day
Sneaks
Chevron did not release block one results for a long time and still there was outrage from Chevron shareholders. If one were to look at the history of exploration wells drilled in deep water the results are always held close to the vest. Management is doing exactly what the majority shareholders desire. The stock continues to lag behind what the minority shareholders wish to achieve. The cause of this condition is rooted in its history. Early delusion due to no money, assets available for sale, revenue stream, court cases and negative posting about this stock performance and the performance of those running this company within eyesight. The share price is indicative of Public Opition.
Those are the facts
Sneak
Yes indeed this is So in some cases. However if you had not noticed, Pete is well connected to the powers that be in the Nigerian Senate. I never believed that SEO alone selected him to be the CEO. I believe he is watching the Fort for his Bosses. Very few countries or people can stick their finger in the Eye of the Eagle (United States Government) and still be around to talk about it.
This High stakes game of Oil Brinkmanship is starting to unfold with Shell divesting itself of onshore Nigerian Oil Property. Those Nigerian Senators are going to be very off. JMO
Sneak
EXECUTIVE PROFILE*
Peter C. Ntephe
Chief Executive Officer, President and Director, ERHC Energy Inc.
44 Age Total Annual Compensation as of fiscal year 2010.
This person is connected to 4 board members in 1 different organizations across 1 different industries.
BACKGROUND*
Mr. Peter C. Ntephe has been the Chief Executive Officer of ERHC Energy Inc. (formerly, Environmental Remediation Holding Corp) since May 2010 and also serves as its President. Mr. Ntephe served as an Acting Chief Executive Officer, Chief Operating Officer of ERHC Energy Inc. since May 2008 and also has been its Secretary since February 2001. Mr. Ntephe was a Partner of Ntephe, Smith and Wills, a Lagos-based law firm. from 1987 to May 1999. He has been Senior Special Assistant to the Chairman of the Nigerian Senate committee on judicial and legal matters since June 1999. Mr. Ntephe has a Bachelor's and two Master's degrees in law, the second Masters being a specialization in regulatory issues from the University of London and Degree in management from Brunel University, London. He has a MS from Oxford.
Nothing about what Peter does is by chance or is he incompetent.
It is all by design.
Sneak
Peter and Company continue to move forward on their ever so "Coy" Business Model. When some shareholders cause a stink about what they should be "In the Know On" and rattle the Box. Management will continue to operate under the Radar of the Critics and spoon feed all of us on a need to know basis. After all Children should be seen and not Heard. SEO did not fire the first shot, Big oil did. So as far as they are concerned, We all get treated like mushrooms by being kept in the Dark until they think "WE NEED TO KNOW". You asked for it and you got it.
Have a Great Day
Sneak
I do not have that info, but the other blocks are in the final stages of being sold as well.
Stay tuned, The ball is starting to roll as Shell attempts to raise $5 billion dollars by selling all their Nigerian onshore holdings and LOOKS for offshore assets! :)
Sneaker
Four of Shell's Nigerian onshore oil blocks are as good as sold and details are on the verge of being released.
Sneak
Umbra, I have a friend that loves to bet on football. He seems to lose on a regular basis, but he claims he is still up on the one or two games he wins every now and then. He too brags about his wins, but his wife claims the opposite is true.
Sneak
ssc: Like always, He never responds to Factual Inquiries!! He is just a Rebel Rouser. A Jack-Wagon if you will. He is still looking for one of the Thousands of JOA'S he claimed he has reviewed in his Past. He just likes to here himself talk, A Self Proclaimed Ledgend in his Own Mind!!
Have a Great Day!
Sneak
King: OML40 may have 350 MBLS of oil and 850 MCF of gas.
Thanks for the update.
Sneak
Africa Oil Closes Farm-out Transactions With Tullow
Tuesday, February 22, 2011
Africa Oil Corp. has now closed on the final two blocks out of the previously announced five block farmout transaction with Tullow Oil plc ('Tullow'). The Company and Tullow have now closed farmouts related to the South Omo Block (Ethiopia) and Blocks 10A, 10BB, 12A and 13T (Kenya). Tullow has assumed the role of operator on all of these blocks. The resulting interests in the five blocks are as follows:
Block 12A (Kenya)
Tullow 50%
Africa Oil 50%
Block 13T (Kenya)
Tullow 50%
Africa Oil 50%
Block 10BB (Kenya)
Tullow 50%
Africa Oil 40%
Lion 10%
Block 10A (Kenya)
Tullow 50%
Africa Oil 30%
Afren - EAX (Black Marlin) 20%
South Omo (Ethiopia)
Tullow 50%
Africa Oil 30%
Agriterra (formerly White Nile) 20%
Tullow paid an aggregate of US$1,686,432 to Africa Oil to acquire its interest in Blocks 12A and 13T. Each party will be responsible for its working interest share of future joint venture expenditures in these blocks.
Keith Hill, Africa Oil's President and Chief Executive Officer, commented:
'We are pleased to have completed our multi-block transaction with Tullow, who have arguably been the most successful exploration company in Africa, if not the world, over the past decade. We see great synergies with the use of the technical and operational expertise they have gained in their nearby Uganda Lake Albert Graben project. The transaction also means that any resultant discoveries will be operated by one of the main partners in the proposed pipeline project to export crude from this highly prospective developing region. With their proven success in Africa, combined with the East African Rift Basin assets that Africa Oil brings to the deal, we look forward to the implementation of a successful exploration program in the months and years to come.'
Sneak
Why are you here? It must be more than trying to informs us of Bio Swamp Gas or was it your Rump Gas? Your post are starting to give you away!!!!
Sneak
What might that plan be? I am all EARS!!!
Sneak
Thank You Troy!
Sneak
Middy, They went that route in the first go round and signed with noteworthy Companies, Noble, Anadarko, Devon only to be Stiffed when it was Showtime. So SEO made the best deal he could with other Players and the Big U.S. Majors could not get their way, So then the Investgations started and the rest is History. Let us see how HDY plays out, They got rejected in their second offering to a Major player.
Sneak
Middy, You are right, It is not going up on "Air", It is going up on "Perceptionary Hype"!! ERHE is a penny stock play, ERHE has to move to a respected exchange in order to achieve the same type of "Perceptionary Hype" HDY is having. HDY remains in controls of their blocks, Thus they remain in control of the Information. ERHE is a minor player and has to wait for the Operator to release the Information. Once again you Fail to realize that simple Fact!
Sneak
Could the extra well drilled in phase one be an Appraisal Well?
Sneak
Professional Wallstreet Pumpers working that Jack Handle! JMO
Sneak
ex: Some on this board carry on like this is a run of the mill Corporation with a revenue stream. They manufacture nothing, They do not buy product for resale. They do not have any Income. They only have Contractual Right to some of the World Most Highly Lucrative Hydrocarbon Property in West Africa. Until these Rights are Proven to hold Hydrocarbons, This stock will continue to Languish it's Peers regardless of who is running the Company.
Have a Great Day
Sneak
Proven: If I thought that management was a threat to my investment in any company, I would just sell and move on and not waist life's valuable time complaining about it, Just move on and give to longs here some relief from the Broken Record Syndrome. It is hard to believe that both you and middy are Grown Adults, When in fact you both act like little kids throwing a Temper Tantrum! It was not so long ago that you and middy both made worth while contributions to this board about ERHE.
From the Family of ERHE Investors, We still Love Ya. So lets get on with life and put the past behind us.
Have a Great Weekend!
Sneak
He has been middy-ized if you will. It is not my fault! I have been had by my own greed!!!
Sneak
Proven: I would not classify it as Incompetence, but rather by Design! CVX, AXC, Total Fina and every other fish in the zone has not given detailed Information about drilling results outside of the usual Industry Standard PR. As far as middy's new approach goes, It is an interesting whist in his latest attempt to gain the Board's Ear. I say it gets the same response as previous attempts.
Sneak