wisdom with conviction give strength. Caution with Wisdom gives piece of mind.

Thanks Pete, TOB etc for the time you took to go to the meeting and to report back to us. Keeping the hope alive!

somebody must have heard something prior to the ASM. Same ole same ole.

Yikes! why hasn't Sinopec bailed then? Why doesn't the JDA say something?

Thanks. I got them reversed. Appreciate the correction.

If I remember right from one of the posts that Pete put up from Dr. Thuo report there was plenty of source rock but no reservoir rock. I may be wrong but I have no way of looking it up. Can someone pull that up and have TOB or someone give us their opinion on who is right?

Thanks for going. Look forward to hearing what you find out.

no need to vote now.

agreed. I am still holding and hoping. Just put it under the mattress and wait until it matures. Haven't bought or sold in a few years. I do get skeptical and distrustful but since no principals have sold and they have changed the game we will just have to let it play out and cross our fingers, toes, legs, eyes etc. I am with Umbra, heaven or hell with this stock.

Yep. After almost 9 years in this stock the word tedious does not do it justice. Holding out for hope.

We have all seen this happen before a shareholders meeting. The drop will happen the day after if history repeats itself! Depends on the reports that trickle out from the meeting. I really hope they give some Beef out this time instead of Snipe!

The problem is that a lot of us have been here nearly a decade or more and heard the same stuff regarding the JDZ. It is only natural to be skeptic. Still a lot of questions to be answered. Still holding but my hands are cramping big time!

I know. That's why I said there was nothing thru 2017. Looks like the JDZ is a dead issue.

According to page 64 they don't have anything planned for the JDZ thru 2017! This does not bode well for the JDZ. Really disappointed. Now just have to look forward to other properties and hope something comes out of them. Looks like another decade of waiting.

Diversified portfolio of major Upstream projects
Projects Countries Capacity (kboe/d) Share Op* Status
Usan Nigeria Deep off. 180 20% ? Prod.
Utica USA Gas/Cond. up to 400 25% Prod./Dev.
Bongkot South Thailand Gas 70 33.3% Prod.
Production growth
Mboe/d - Brent price 100 $/b
Halfaya Iraq Liquids 535 18.75% Prod.
Angola LNG Angola LNG 175 13.6% Dev.
Sulige China Gas 50 49% Dev.
OML 58 Upgrade Nigeria Gas/Cond. 70 40% ? Dev.
South Mahakam Ph.1&2 Indonesia LNG 55 50% ? Dev.
Anguille redev. Ph.1-3 Gabon Liquids 20 100% ? Dev.
Kashagan Ph.1 Kazakhstan Liquids 300 16.8% Dev.
2012
2011-15
2
3
Sanctioned
projects***
Under study
~3
Mboe/d
+1 Mboe/d
g
West Franklin Ph.2 UK Gas/Cond. 40 46.2% ? Dev.
Ekofisk South Norway Liq/Gas 70 39.9% Dev.
CLOV Angola Deep off. 160 40% ? Dev.
Laggan Tormore UK Deep off. 90 80% ? Dev.
Ofon 2 Nigeria Liq/Gas 70 40% ? Dev.
Eldfisk 2 Norway Liq/Gas 70 39.9% Dev.
Surmont Ph.2 Canada Heavy 110 50% Dev.
~3%
CAGR
1
2015
oil GLNG Australia LNG 150 27.5% Dev.
Vega Pleyade Argentina Gas 70 37.5% ? FEED
Tempa Rossa Italy Heavy oil 55 75% ? Dev.
Termokarstovoye Russia Gas/Cond. 65 49% Dev.
Ikike (OML 99) Nigeria Liq/Gas 55 40% ? FEED
Incahuasi Bolivia Gas 50 60% ? FEED
Egina Nigeria Deep off 200 24% ? FEED
2011 2015 2017
40
Operating cash flow and net investments****
B$
*** Including 2012 start-ups
off. Block 32 - Kaombo Angola Deep off. 200 30% ? FEED
Moho North Congo Deep off. 100 53.5% ? FEED
Martin Linge (Hild) Norway Liq/Gas 80 51% ? Dev.
Ichthys Australia LNG 335 30% Dev.
Linnorm Norway Gas 100 20% FEED
Blocks 1,2 and 3A Uganda Liquids 200-250 33.3% ? Study
Sh h D i Ph A b ij G St d
20
80 $/b
80 $/b
Shah Deniz Ph.2 Azerbaijan Gas 380 10% Study
Yamal LNG Russia LNG ~450 20%** FEED
Ahnet Algeria Gas 70 47% Study
Fort Hills Canada Heavy oil 160 39.2% FEED
Joslyn North Mine Canada Heavy oil 100 38.25% ? FEED
Brass LNG Nigeria LNG 300 17% FEED
Shtokman Ph.1 Russia LNG 410 25% FEED
2017 0
Group cash flow from operations Net investments
Flexibility on part of unsanctioned Capex
Average
2012-14
Average
2015-17
Average
2008-11
Investor Relations – www.total.com 64
IMA (OML 112) Nigeria Gas 60 40% ? Study
* Total operated; in Uganda, Total operator of block 1 only
** Direct stake in the project only
****

This deal is starting to come uncomfortabley close to what happened in PBLS. Many from this stock lost big time on that stock (I lost on it as well but not as much as most). They were pretty slick on dispensing the kool-aid there too.

The sad thing is I wasn't a Senior Citizen when I bought into this stock! Now we are looking at another 6 to 7 years before drilling. Maybe they can trade some of the properties for a producing property! LOL we can always hope which is all we have left.

I was stunned by their statement that drilling in Chad/Kenya will not be until 2017/2018. This is on land which is supposed to be a lot faster yada yada yada! Needing $10-20 million in the next year and we only have $8 mill in the bank! The sp was raped on the shelf that only netted $2mil. Can't wait to see what they do for 10 times that amount. They also did not mention any partners lined up to farm-in with us. I bet they are circling like buzzards waiting for us to fail so they can jump in and take the properties for next to nothing.

prayers to the family. May he/she rest in peace.

ditto

Nice pics. I can see land rovers doing a brisk business there and using 14 ply tires to boot! LOL. Man that is some desolate area. Looks like a landing field on one of the insert pics. That could be helpful.

That oil production is for Blk 1 (as far as we can gleen from DD). We only have the elephant farts in our blocks. Don't get too excited about the deep water stuff. To many questions on them and their timing. We have to look at Chad and Kenya now to kick start this pig.

Ditto. Keeping a cautious eye on it.

In order for the additional shares proposal being authorized Offor would have to agree to give up control. Question is why would he? I do not see him abstaining from the vote. Did he orchestrate this? If so why? Does he finally realize this stock is going nowhere as long as he has majority control? What happens if he votes against the proposal? We all know the answer to that as we have seen his control in action on every other issue ever voted on with this company. Has the BOD finally persuaded him to let them move forward under their guidance instead of his? What he says goes with this company. Will be very interesting to see how this plays out. I would love to see him relinquish control. That is when we will see a big uptick in the sp.

What if Offor does not want to lose control of the company and vetos the proposal? He is in the catbird seat right now. Why relinquish that unless someone made it worth his while. He has voting control of a company that has very favorable properties and running out of cash. He just has to wait for the right moment to take over unless his plea bargain deal years ago precludes that from happening.

no wonder the sp dropped today! That is terrible news!

Where is that found? When did the share count go up to 3 Billion?

Thats because they are going for Black Gold!

You contradict yourself. They P&A'd Entimi went to drill OBO2 then went back to finish drilling Entimi. The second drilling of Entimi means it was not a dud. Obviously there was something there to look at again. Maybe they decided to drill horizontally into a structure they missed the first time. We will have to wait and hope they say something.

Ah, therein the crux of the questions still lingering on the drill results. Given that the JDZ was the most analyzed blocks in history and the seismic reports were reviewed at least 15 times and that they were also coordinating them with the OBO discovery etc then how could they possibly drill 5 wells and come up gas only? They did not even need to drill the 5th hole in the JDZ. It could have gone to 291 if they found they were only hitting gas. 50-50 chance of hitting gas and they hit gas on all 5 wells even though they drilled the same sands etc as OBO1? That is why so many here think we have been duped. Is there a giant coverup going on? Why hasn't SNP withdrawn yet? Jeff Schrull disappeared soon after the drilling was done. Why? Was it his fault they only found gas? Was it because of his company maker statement on Block 4? Sugar coated rose colored glasses can't take away the stench of the "Biogenic Gas Only" statements. ERHE management spending like drunk sailors and acquiring nice properties without the means to pay for them etc puts up so many red flags that it looks like a tulip field in spring! Thanks Dr. J for the reminders and for keeping things real.
Personally, I think the Biogenic Gas statement are just a smoke screen. I think they did find Gas in some upper zones thus they could legally say that is what they found. But half truths not told are a very risky business. Probably the same way as OBO had some only we weren't told about them. But I also think they found oil where it was supposed to be and they are trying to put together a consortium including Total to develop the JDZ along with Akpo. All the infrastructure is there and it would make huge financial sense.

This mini run smells like a momo fly by.

affiliates=FELTANG? Maybe the AIM advisor is having as hard a time trying to find out who and what they are as we have had. I often wondered if Feltang is a product of Brandhuber's Millineum Group. That would explain our secret backer. Could it be that they are helping direct our acquisitions so they can build a portfolio that will be more enticing for a major Buyout? Millineum has deep pockets as it is Saudi controlled if I remember right. Maybe TOB with his expertise in DD can help us out with that dot.

TOB, now that ERHC is squeaky clean according to the alphabet soup gang, do you think they will resume their pursuit of AIM listing? How do you think they will be able to pay for all these new acquisitions/exploration activities etc? As far as we know they do not have a MOU with a partner for any of the new deals. A shelf at these prices would spin us downward into OTCC oblivion. They have said they are in the process of acquiring even more properties as well. Care to explain how they are doing that? Can we have a silent partner and not have it be a material event? Can someone be loaning us the money and that not be a material event? I am still confused as to how they are acquiring all these properties (and good ones hopefully) with less than $10m in the bank. Don't get me wrong. I like the new acquisitions. I would dearly love for them to tell me the secret to how to get those great properties with little to no money. Is Anthony Robbins on our staff?

obviously we are only seeing what is being done above the table. If we had a partner that would be a material event. You don't get awarded significant blocks on handshake deals. We don't have the money to do any of the exploration. So they must have someone lined up with promises etc but nothing in writing. There is a lot of secret dealings going on. We will just have to wait (that sounds familiar) to see how it plays out.

Amen to that!

not that I am supporting Middy but isn't Afren the other source in their quarterly statement or something like that recently that mentioned about SNP pulling out? Seems like that was discussed just in the last week or two.

The real question here is why hasn't ERHC notified it's shareholders of SNP and other block memebers exit? EEL has already done it so what is stopping them other than their compulsive need for secrecy? Are they deliberately keeping us in the dark once again and we have to find out by someone doing DD on another block member site?

great point. If JDZ is a bust then where do they think they will get money to continue with Chad and EEZ? Hopefully they have a full carry being worked on for EEZ blocks otherwise Chad will not be funded unless there again we get a partner that will do a full carry etc. A lot of unknown's which is a norm for this company.

If we ask ourselves a question and then not answer it does that mean we diss ourselves? In Krom's case that is the norm! In my case it just means I have to ask more questions and hopefully someday I will answer them. LOL

I am not on here daily bashing the company. I read every file and have read every post on this and other boards. I state 'em as I see 'em. You can read the select files you want but I choose to take every file into consideration and make my determination from there. Why do you think there are so many discussions on this matter? I am not the only person that sees and hears the conflicting information. Why is it that SNP can put commercial finding on Blk2 yet we are told only Biogenic Gas was found? I still believe in the assets of the company but not the management. That is why I am still invested here as I believe someday we will have something really good. Until that happens I watch, listen, and wait for the JDA to give us the real story. Remember Akpo was supposedly a dud until they kept drilling and now it is a world class field. I suspect the same thing is happening here. I just choose not to look thru rose colored glasses at it.

go back and look at the time period when he did the infamous video where he was grinning like a cat that got the bird. He said then the results would be announced in a few weeks. After a few months had lapsed he was confronted about the timing and his flippant reply was the "two weeks or a year. What is the difference". You can try to hide the raw truth about PN but it is there for everyone to see. His track record speaks for itself. All you have to do is go thru the thousands of posts about his side steps and smoke screens etc.