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We ALL Hope so Art,
just hope we can reach our Full Potential with current leadership intact
WD, Big oil didn't PR our Most Important News Release of our history at 5PM on a Holiday Friday
Big oil hasn't gone through 3 Presidents in 5 years
Big oil has a President and CFO
Big oil cares about their shareholders
Its all an ugly mess WD...
my parking sign is sure getting dusty
Balances 4 year flashback certainly puts it in perspecitve doesn't it
http://www.investorshub.com/boards/read_msg.asp?message_id=20813102
why are we at $0.295 vs. $.80 pre DoJ Raid
we are down 70%
its not just the long time frame anymore
- because fundamentally our assets/cash/partners/drilling have never been stronger
This is a management issue - This is a Preception issue
This record alone is enough for the BoD to make some changes
Regardless of the right to ownership
I believe we have earned
Just tired of the storm clouds
Hoping that drilling will bring back the sunshine
stop defending the man -
he is driving our company into the ground
DONT you get it !!!
WE may NEVER reach our full potential with him around
the Investment community has already decided to stay clear
the waters may have OIL but are are muddy
Big Oil now the Gov't has got ahold of us and may never let go - unless he does
----------------
However some better news I did hear the DoJ may have put us on the Back Burner as they have not requested anything from us in quite some time
The SEC is another story -
ALL IMO
Flashback - maybe this is why Anadarko is pissed and launched the probe
$90 MM vs. $57 MM
JDZ Block-4 (ten bids)
ECL International $175million
Conoil Producing ($150 milion)
Anardako Petroleum Corporation ($90 million)
Hercules Oil/Centurion Energy/Stratar Energy Consortium ($81 million)
Atlas Petroleum ($70 million)
Energy Equity Resources ($67 million)
Overt Ventures, Equator Exploration Limited ($60 million)
ONGC Videsh and Godsonic Oil ($60 million
* Noble-(ERHC) ($57.285 million)
*Updated to ADDAX and AWARDED OPERATORSHIP
*perhaps the drilling program was better by Addax
*sources claim Anadarko / Exxon submitted an after the close Bid but were still rebuffed
look who's back in ... http://www.erhc.blogspot.com/
ARCA was the MM who was buying up to $0.355 last week
Right Art and the investigation began the following month in Feb. it took them 3 months to raid the offices
some coincidence huh
- these guys [right wing conspiracy]
play hard ball - thats for sure
APC and XOM tried to get a After the Bell Bid in for BL 4
[no wonder they are pissed]
Be interesting to see how many JDZ/STP blocks those boys win going forward
What a waste of tax payers money IMO
thanks badog, New Call For JDZ Probe Reeks Of Same Old News
REPOST - JAN. 2006
"Exxon has used all of its influence to try to destroy the very hardy chairman of ERHC Energy, Sir Emeka Offor, but to date has failed."
interesting Time Line of events
"The SEC launched a formal probe in February 2006, and three months later FBI agents raided ERHC's offices"
A little-known outfit called Publish-What-You-Pay has joined forces with the R. Dobie Langenkamp crew to call for more investigations of the 2004 Licensing Round awards in the Nigeria-Sao Tome and Principe Joint Development Zone, the Vanguard daily reports from Nigeria this morning.
As usual, ERHC Energy is the scapegoat instead of ExxonMobil and Anadarko Petroleum, the two companies whose lawyers fomented the report Sao Tome President Fradique de Menezes calls a "whitewash" and "incomplete."
The Vanguard headline uses the word "indicted" in the sense of "accused of," not as Westerners familiar with the grand jury system use it, to formally accuse persons and bind them over for trial.
The probe, undertaken by an attorney closely associated with house lawyers for Exxon and Anadarko at the Energy Law Institute and the Tulsa University School of Law - some of whom were his students and other were earlier his classmates - is a brute-force attempt to wrest control of Block 4 from a small Nigerian-owned firm that spent $11 million setting up the Joint Development Zone when few others were interested in Sao Tome's oil prospects. Exxon has used all of its influence to try to destroy the very hardy chairman of ERHC Energy, Sir Emeka Offor, but to date has failed.
Meanwhile, the report ignores bribery allegations subject to the Foreign Corrupt Practices Act that have been leveled at both companies in hearings before the Senate Commerce Committee. The corruption charges stemming from their projects in Equatorial Guinea encompass almost all the players in the Joint Development Zone except ERHC Energy. In addition, ExxonMobil has been charged with evading hundreds of millions of dollars in taxes and operating unlicensed, illegal airports in Nigeria.
Nonetheless, the probe tries to make Offor the bad guy, when in fact he is rather more circumspect than his major-league competitors.
The error-ridden report admitted at the end that it had found no evidence of wrongdoing on Offor's part, but apparently never looked at the efforts by Anadarko to add ExxonMobil as a partner in its bid for the coveted Block 4 of the JDZ after the deadline for bids had lapsed. ExxonMobil sent 24 big-time investment bankers and lawyers to Abuja to argue their case, but the arguments fell on deaf ears and now may never be revived.
Here is the PWYP story from the Vanguard, rehashing charges that have now been rejected three times, including by OPEC President Dr. Edmund Daukoru, Nigeria's oil minister:
PWYP backs inquiry faulting JDZ licensing round ...Nigeria, Sao Tome officials indicted for corruption
By Hector Igbikiowubo
Posted to the Web: Tuesday, January 31, 2006
THE International coalition of the Publish What You Pay (PWYP) campaign and its partner organizations in São Tomé and Principe and Nigeria have voiced concerns about serious flaws revealed by a report into the 2005 bidding round for oil blocks in the Joint Development Zone (JDZ). PWYP have also pointed out that the end result appears to be substantial revenue losses, to the detriment of the people of both São Tomé and Principe and Nigeria.
In a statement released Sunday, PWYP coalition pointed out that an inquiry commissioned by the Attorney General’s Office of São Tomé has concluded that the bidding process was ‘subject to serious procedural deficiencies and political manipulation, including the award of interests to many unqualified firms or firms with inferior qualifications, technically and financially’.
The report’s findings specifically raise the question of whether the Nigerian government is implementing full transparency in the licensing procedures for the JDZ, as per its commitment in the Abuja Declaration signed with São Tomé in June 2004.
More broadly, the report’s revelations sit uneasily with the Nigerian Government’s promise to turn its back on corruption, and reform oil sector management.
The serious irregularities exposed in the report include the following:
The criteria for awarding licences were vague and did not reflect international best practice. This gave the Joint Development Authority (JDA) and the Joint Ministerial Council (JMC) unusually wide discretion in selecting licensees. Some companies were also given the opportunity to amend their bids during the selection process, in contrast to international industry norms;
Licenses were awarded to technically and financially unqualified companies. Bids by companies with no prior deepwater drilling experience and/or without the requisite financing were favoured over more credible bids by internationally respected operators, in some cases leading to lower signature bonuses. Due diligence was performed on the licensees only after the final awards had been determined;
Several representatives on the JMC and the JDA, including officials from São Tomé, had conflicts of interest, holding stock in companies bidding for and receiving awards.
A significant part of the report focuses on Environmental Remediation Holding Corporation (ERHC), whose majority shareholder is a Nigerian oil company.
ERHC holds a highly favourable and controversial contract with São Tomé giving it free options on the country’s oil blocks. This may have deterred international oil companies from entering the bidding round.
The report pointed out that, if enforced, the ERHC contract could potentially result in $60 million in lost revenue in a country whose total annual budget is $50 million.
The enquiry questions the validity of ERHC’s contract and its options, and alleges that this could be the result of political pressure and payments to public officials. It recommends that ERHC’s licenses and contract be frozen until all allegations of corruption have been properly investigated.
It further calls on the JDZ agencies and the governments of São Tomé and Principe and Nigeria to revise the bidding guidelines to observe international best practice, including pre-qualification for competing companies and public disclosure of any conflicts of interest.
The Abuja Declaration was intended to establish a model for contract and revenue transparency in joint development zones: without such transparency, there is no guarantee that revenues from natural resources like oil will benefit all Nigeria and São Tomé’s citizens.
Publish What You Pay noted that it fully supports the Attorney General’s recommendations and calls on the São Tomé and Nigerian governments to take all appropriate measures to implement them. We also call on the US authorities to investigate further allegations that ERHC made improper payments to foreign public officials in order to obtain licenses, a practice that if confirmed would represent a clear breach of the Foreign Corrupt Practices Act (FCPA).
posted by ...Joe Shea at 12:53 AM
Electick was right SEO was a driver - too funny
http://www.investorshub.com/boards/read_msg.asp?message_id=20701223
Mr. President where Sir Emeka Offor, a mere driver for Julius Berger a few years ago got this mind-boggling wealth from?”
Maskers -welcome 14.4 billion barrels of oil in JDZ
http://www.erhc.com/TechnicalData.htm
Blocks 1 to 9 in the JDZ, of which 17 were defined as prospects and 39 as leads. WesternGeco used reservoir parameters similar to those known from nearby fields in Nigeria and Equatorial Guinea. Combined recoverable reserves potential of the 17 prospects was estimated by WesternGeco to be 14.4 billion barrels of oil.
CVX said they found 150 Net Feet of Pay in JDZ BL 1 last year
many here think this number does not really represent the actual find - and is much much larger
Addax says .... JDZ BL [2,3,4]= 286 MMbbl Unrisked + 225 MMbbl Risked
http://www.addaxpetroleum.com/_pdfs/Investor_Presentation_2007_06.pdf
Drilling 5 wells + optional 5 wells in 2008
RIG Slot Secured, Drill RIG = Aban Abraham
EEZ - many more billions estimated there too
see the links here for more details [endless info]
http://www.investorshub.com/boards/board.asp?board_id=1909
my wife wants to WHACK me for owning this POS for so long with little to show for it thus far - except for an exciting story -
its all good as long as I keep coming up with new excuses
there will be NO major PR during the DoJ investigation
SEO says Shareholders are updated on a Need to Know Basis only
policy since his arrival in 2001
When you raid the neighbors Fridge you dont tell the world
Fingers crossed for a buyin
Dadd you are thrilled by the pps and current management
all the recent PR's keepng you up at night reading away
too many shares out
too much turnover in staff, partners and associates
too much risk
SEO must go - thanks for saving us in 2001 at $0.01 and adding another 1/4 Billion Shares
Some maybe thrilled with $0.30 but me and MN are not
a NEW CEO will surely be able to cut Sweet Full Carry Deals going forward and we wont have to keep looking over our shoulder to see if we are going to get WHACKED
IMO
$.30 cent stock - It's criminal enough
Walldog, agree but Upstream who may have attended the Addax Show says 2013 for production [hello it;s 2007]
figure 5-10 wells takes us to 2008-2009 maybe 2010
So how many more years to Fast Trak production
and our percentages after tax and expenses on the 3 blocks will make us slightly richer not super rich
the super rich comes from the 2x100 STP Blocks
As Oily says Oil will still be oil
But ERHC will not be ERHC
lets hope SEO makes the right deal where we all benefit which is for him to move OUT !!!!!!!!!!! bring in some real oil folk - one's without a Rap Sheet
Till production - Oil revenue !!!!
till all our rights are perfected and oil production begins
Upstream just quoted JDZ BL 2,3,4 at 2013 so figure the balance of the JDZ and STP are still aways off
However this doesn't mean we cant enjoy big gains from Oil Exploration and positive drill well results
But Feel we MAY Never Reach our FULL potential till SEO steps aside I know Walldog will argue this point but SEO Has NOT served us well and now needs to step aside before he takes us all down besides himself who is in enough trouble as it is
its 8-12 years away
BSK nice summary of developments -
the question is do the Feds have more than probable cause?
and can they prove it?
and what does it mean to shareholders? [consensus is nothing except for a bad public image]
A judge signed the search warrant knowning there was probable cause - but what else is there
and why the witch hunt on a company with 3 employees and no revenues for 10 years ???????
Dont they have other bigger fish to fry ???
Dont expect any major PR from ERHC till the DoJ/SEC blows over
see the Elephant Fields
Not till 2008
John [IR] at APC says JDZ BL 3 will be drilled in 2008
no more info given
Rig Name ?
How Many Wells ?
Time Frame ?
John [IR] at APC says JDZ BL 3 will be drilled in 2008
no more info given
Rig Name ?
How Many Wells ?
Time Frame ?
W.Africa 600 Million Barrels for Anadarko
Oil column of approximately 885 feet with 312 feet of net stacked pay
LONDON, June 18 (Reuters) - London-based Tullow Oil Plc (TLW.L: Quote, Profile , Research) announced the discovery of up to 600 million barrels of high-quality oil at a block in Ghana owned with Anadarko Petroleum Corp. (APC.N: Quote, Profile , Research), sending Tullow shares up over 10 percent.
Tullow also said in a statement on Monday the structure it successfully drilled in the West Cape Three Points Block extended into an adjacent exploration block, which Tullow also co-owns with Texas-based Anadarko, suggesting further potential upside for the partners.
Reuters Pictures
Editors Choice: Best pictures
from the last 24 hours.
View Slideshow
Tullow's exploration boss, Angus McCoss, told a conference call the company had been targeting recoverable reserves of only 250 million barrels at the West Cape Three Points Block but now hoped for 600 million.
Industry sources said that, based on the drilling data, the block was likely to contain at least 300 million to 400 million barrels.
Tullow shares were up 9.9 percent at 449-1/2 pence at 0929 GMT, compared to a 0.04 percent dip in the DJ Stoxx European oil and gas sector index <.SXEP>.
KBC Peel Hunt raised Tullow to "hold" from "reduce".
"The discovery of oil in the Mahogany well represents a major event for the Republic of Ghana and for Tullow," Chief Executive Aidan Heavey said in the statement.
Dallas-based Kosmos Energy, which is backed by private equity, operates the West Cape Three Points Block. Tullow has a 22.9 percent stake, while Anadarko owns 30.9 percent.
Tullow has a 49.95 percent stake in the adjacent Deepwater Tano Block, while Anadarko owns 18 percent.
© Reuters 2007. All Rights Reserved.
nice ... Net to Addax's interest, the "unrisked" oil potential in this play is about 225 million barrels.
Perhaps a Fathers Day or 2 away
Happy Days Ahead
But for now HFD to all the ERHC DADS
anyone with full Upstream subscription
Sao Tome-Nigeria JDZ projects target 2013
Addax Petroleum and its partners in three blocks in the Nigeria-Sao Tome Joint Development Zone, could potentially bring on stream a project in the area by 2013, writes Iain Esau.
We were at $0.80 when the DoJ Filing came out
I'd say that's quite a digestion
Condor the Jefferson File was and infact tagged from the total Siezed list of ERHC Documents taken
who knows what was in it - [maybe it was planted there]
I highly doubt anything of value was in it - perhaps it was empty
Jefferson was probably just asked to vouch for us from Ms. Wilson and had nothing to do with us getting what we had in 2001 or again in 2003 and certainly not from the recent JDZ deals SEO got.
Big Deal - I have a Jefferson file in my desk too
So What - guilt by association !?!
Good Point about the Gov't waste on this and how the bigger $10 Billion No Bid Contracts go unchecked .. vs. little us and a $100k political contribution to which STP's Menezes will keep quiet I'm sure .
the 100k doesn't bother me - its the Feltang deal
this is the bigger mystery
Fradique of Menezes receives credentials of new Portuguese ambassador in Saint Tomé 2007-06-13 15:50:29
They are Tomé - Fradique of Menezes, leader of State santomense, received the credentials of two new ambassadors, of the Nigeria and Portugal, Sunday Dogonyaro and Fernando Axe respectively. Fernando Axe happens Madeira Barbaric that was probably the Portuguese ambassador that had the shortest mission in Saint Tomé and Prince.
In the cerimónia Sunday Dogonyaro promised to be practical in the development of the cooperation between the two countries. Through the zone of joint exploitation of oil, as well as in the heart of the Commission of the Gulf of the Guinea, the new representative of the Nigeria in Saint Tomé says that is going to stimulate the authorities of the two countries it implement several actions of common development.
Second Sunday Dogonyaro for beyond the agreement that links Saint Tomé and Prince and the Nigeria in the exploitation of the oil in the common maritime border, the two part have the opportunity of explore several areas of cooperation, so much to social and cultural as commercial level, and especially in terms of investment and infrastructure.
More populous country of Africa with more of 150 millions of inhabitants the Nigeria has played important paper in the maintenance of the peace and security in the African continent. The ambassador detached the peaceful resolution of the crisis frontiersman with the Cameroon as test of that "the Nigeria does not have any political weight neither económico for dominate his neighbors or any another country", uttered Sunday Oon.
The diplomat underlined on the other hand, the understanding achieved with Saint Tomé in 2001 for joint exploitation of oil and others resources in the maritime border as sign of singular maturity in the world and "unique in Africa". The ambassador guarantees that is going to work in the sense of give a new dimension the bilateral cooperation.
"In my meeting with the Minister of the Foreign Business, Cooperation and Communities of Saint Tomé and Prince, we agree about the need of identify the main areas of the partnership in order to to be programmed and developed quickly", fortified.
To dinamização of the actions of the commission of the gulf of the Guinea, agency created by the countries of the gulf and in that Saint Tomé and Prince occupies the charge of Secretary-general, is another one big priority for the Nigeria. The commission in cause has among other functions, promote the development económico and social of the countries members. Oil-producing giants as Angola, Nigeria, and Guinea Equatorial, healthy members of the organization that be thirsty in the Angolan capital, Luanda.
The ambassador of the Nigeria with residence in Saint Tomé, guaranteed the total endeavor of the news I govern of his country, led by the President Alhaji Umaru Muse Yar Adua, in the consolidation of the ties of friendship and cooperation with Saint Tomé and Prince, having increased have "the certainty of that sooner or later, the two leaders will find because of the our special relation", detached.
Sunday Dogonyaro that was a diplomat in the Nigerian embassy in the Africa of the South, and upper chart of the NEPPAD, to new strategic politics for the development of Africa, happens to Saidu Pindar, first ambassador of the Nigeria that was believed in Saint Tomé in 2001.
Fernando Axe, delivered his letters credentials to the President Fradique of Menezes, in a height in that the two countries are prepared for implement cooperation actions news. Second the ambassador, the sectors of the education and of the health continue it be the big priorities. In the next months equip technical of the two countries, go to delineate the structure of the news programs chart of bilateral cooperation.
The new representative of Portugal next to the state santomense happens Américo Madeira Barbaric, that was probably the Portuguese ambassador that had the shortest mission in Saint Tomé and Prince. Fernando Axe, that was believed promised that during his mission will be always pawned in maintain the very high level of relationship that fortunately exists between the two countries.
Fernando Axe said that will arrive to the country two technical missions for evaluate the results of the program of cooperation in course and prepare news areas for the near program that should be signed in the end of this year.
"The areas are varied. The priorities to this moment has been by indication are-tomense, the health and the education. Because, there is that put in office first in the persons, especially in the young, that is based on development of a country, afterwards there are other things agriculture. ..”, increased.
The defense and promotion of the cultural values that united Saint Tomé and Prince and Portugal since the century XV, healthy a priority. Fernando Axe, discords of the opinions that notice an accentuated break of the Portuguese cultural action in Saint Tomé and Prince. "I am here there is short time but do not I have it plan that have decreased. Before by the contrary one a thing that has me satisfied a lot is the activity of our cultural center, that was renewed. We have now a week of the Portuguese language with several activities and very competed. The culture for me is one of the main bridges between the countries, especially in that case, in that we share to same language", emphasized.
In what touches to the problem of the seen in the archipelago the diplomat recognized that is a sensible matter explaining that the visa access difficulty for entrance in Portugal and consequently in the space Schengen, technical assignment of the agreement that created the European common space, permitting to free circulation of persons between the several states members, has generated protests in the archipelago.
DAVID IVANOVICH our old Pal-what a hack
http://www.chron.com/disp/story.mpl/headline/biz/4888415.html
Who is paying him off?
GeoffCapes the first JDZ Estimates from OBO-1 were OFF the Charts - according to our Ihub family - and others Inc. Dr Daukoru head of OPEC
- we know they are big however CVX downplayed the find !!!
what say you re OBO-1
related - Prime Minister of Guinea Has Meetings with Hyperdynamics and Secretary of State Condoleezza Rice
Wednesday June 13, 10:21 am ET
Prime Minister Encourages Company to Invest in Guinea
HOUSTON--(BUSINESS WIRE)--Hyperdynamics Corporation (AMEX:HDY - News) announced today that it attended a meeting last week in Washington, DC with the Prime Minister of the Republic of Guinea, Lansana Kouyate. Company participants included its Chief Executive Officer, Kent Watts; Executive Vice President, Harry Briers; and Vice President of Guinea Affairs, Famourou Kourouma. Additionally, representing the Company's legal counsel for political matters, former Congressman, Robert Christopher "Chris" Bell was also in attendance.
ADVERTISEMENT
The meeting was conducted in a formal manner in the Prime Minister's hotel suite and was filmed by a film crew from the national Radio Television Guinea (RTG). The meeting dialogue centered around a clear mission to encourage Hyperdynamics as a US company investing in Guinea, and to attract additional investment from US companies in Guinea. During the week Prime Minister Kouyate also met with US Secretary of State, Dr. Condoleezza Rice, to seek U.S. financial aide for Guinea. Sources close to Hyperdynamics reported that the Secretary of State expressed the United States sincere willingness to help with conditions precedent established for Guinea to first, hold free democratic, transparent, and open elections and secondly, to continue to uphold its contract commitments to US companies as Guinea has historically done in the past.
A televised commentary of the Company's meeting with the Prime Minister was aired on national television in Guinea. At the same time, the National Assembly of Guinea has on its special session agenda the Company's 2006 Production Sharing Contract for a "Project of Law." A "Project of Law" is in effect a super contract status. These same sources anticipate that a vote on this will occur before the special session closes. However, since the sessions can easily be extended, it is difficult to say exactly when the vote will occur.
About Hyperdynamics
Hyperdynamics Corporation provides energy for the future by exploring and producing sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corporation, owns rights to explore and exploit 31,000 square miles offshore the Republic of Guinea, West Africa. HYD Resources Corporation focuses on domestic production in proven areas. To find out more about Hyperdynamics Corporation, visit our Website at http://www.hyperdynamics.com.
Forward-Looking Statements
Statements in this news release are "forward-looking" as defined by the U.S. Securities and Exchange Commission and are based on expectations, beliefs or projections that are subject to numerous risks and uncertainties. Investors are cautioned that these statements are not guarantees of future performance, and actual results could differ materially. Please refer to "Risk Factors" in the company's Form 10-K filed with the SEC.
HDY-IR
Contact:
Investor Awareness, Inc.
Tony Schor or Lindsay Kenoe, 847-945-2222
www.investorawareness.com
or
Roher Public Relations
Vice President
Phillip Bergman, 914-238-2200, ext. 302
anyone with a full Upstream Subscription ...
Upstream June 8, 2007
Addax Petroleum and its partners in three blocks in the Nigeria-Sao Tome Joint Development Zone, could potentially bring on stream a project in the area by 2013,
writes Iain Esau Upstream Online
2013 target for Sao Tome and Nigeria JDZ projects
Upstream June 8, 2007
Addax Petroleum and its partners in three blocks in the Nigeria-Sao Tome Joint Development Zone, could potentially bring on stream a project in the area by 2013,
writes Iain Esau Upstream Online
if the US Gov't wants to be best buddies with Africa going forward they should leave their Elected Officials alone
- even if they are corrupt
- which we all know they are
BTW - who are we to talk with GWB and Dick[head] Cheney
True RED, however the DoJ when asked yesterday about the long [2 year] process for Jefferson - they responded they felt the process went swiftly and international schemes usually take many or several years to bring legal actions
I would live nothing more for the DoJ/SEC to give us the all clear
but this pending / on going crap may continue to drag out
recall the summer of 2001 was sink or swim for ERHC
SEO came on board the the rights were saved
recall the 100k payment [political contribution] to a private company of STP Pres Freddy
great soap opera material