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last year I would have agreed w/ that opinion however with the new unstable Political climate in Nigeria coming and the Starcrest fiasco, DOJ/SEC and ERHC Shareholder revolt I see SEO giving up control to smooth over his Political buds who he needs to get more in the future.
Why didn't OPL 291 go thru ERHC vs. Starcrest?
Why are the Chinese,Indians,Saudi's all aggressively getting into W.Africa?
FYI W.African OIL exports are at record levels and going up
Why are all other minnows getting swallowed up?
Why did BM write that story?
Where is our CEO/CFO after months and months geez?
WHY HAS ALL THE CHATTER STOPPED? !!!! Shhhhhh.
IMO BUYIN
Too much competition chasing too few opportunities
ERHC has the Catbird Seat for the right price - SEO will get his pre-drilling price - knowing possible drilling risks.
SEO is no fool and wont part all his shares
We all win !!!
Stay tuned
Dont get caught short
Although the long time frames ERHC remains a mystical and blockbuster opportunity - unlike most other OTCBB plays [even more so in the $0.30s]
We are overdue for REAL news
Mccir 1 critical Wildcard piece you forgot
BUY-IN
and yes Chevron is Full of poop
$0.37 ??? OILY A BIT MORE PLEASE - how bout several more sentences or how about
A FULL PARAGRAPH !!! -Speak or type thx in advance
hope all have Dry Powder left
these discount prices wont last forever
Cat Bird Seat rules
Nuts for Golf - its tough to do but you have to BUY when it looks like CRAP
and Have to Sell when it looks to good to be true
that said my Buy order is in !
we are at the 3 yr Support Aveage
this is the low IMO
We are overdue for news !!!
SM Volume says its just gravity
Buy Low - Sell High
Sao Tome mentioned
A flag-carrier for African ambition
By Upstream staff
In 12 years, Oando chief executive Wale Tinubu has built his start-up company into one of the largest listings on the Lagos Stock Exchange
Wale Tinubu is one of a new breed of Nigerian entrepreneurs impatient to see the country's troubled downstream sector liberalised and ready to enter the upstream game with gusto.
With operations strung along West Africa, his Lagos-registered Oando was listed last year on South Africa's Johannesburg Exchange.
The company was founded just 12 years ago with $500 and a licence to trade products in the Cawthorne Channel.
Oando is now one of the largest retail listings on the Lagos exchange, boasting an annual turnover of about $2.5 billion and a $50 million pre-tax profit.
“The downstream industry has boundaries but the upstream has none,”he says.
“We are targeting exponential growth in the wider region. We saw early on that the integration of upstream and downstream sectors was the future and the government is encouraging smaller players to enter a liberalised gas sector, building gas pipelines to open up industry in the interior.”
Tinubu believes the next wave of expansion in the Nigerian economy will come from indigenous upstream companies in the Niger Delta.
“There are vast opportunities in what is presently a foreign-dominated arena,”he says.
The company won two exploration blocks and a marginal field development licence in the Niger Delta in 2005.
Oando aims to use the upcoming round to bid for low-risk properties in the swamps and near-shore shelf, as opposed to deep-water properties.
“We're looking across West Africa, especially Equatorial Guinea and Sao Tome, but we're being careful not to over-stretch ourselves while we expand in-house capacity.”
The 39-year-old plans to double Oando's turnover once midstream assets are consolidated and the upstream business kicks in.
The company aims to produce 100,000 barrels per day before 2012 with a 1 million barrel reserves base.
Like his corporate role model Addax Petroleum, he plans to build on synergies developed in the downstream oil services market, while firmly planting Oando on the upstream map through a combination of drilling and acquisitions.
“We've never had an oil block before, so we're seeking strategic alliances for exploration and production and first class Nigerian professionals from all over the world to join us,”he says.
After finishing a masters degree in law at the London School of Economics , he worked for four years at the family law firm K. O. Tinubu&Co before breaking away at 25 to set up his holding company Ocean&Oil. Initially peddling products to oil-sector contractors from a 1000-tonne barge from Bonny Island to the Onne Free Port, he eventually built up a fleet of seven vessels turning over $500 million before entering the oil services market.
Now he is pushing to accelerate gas-sector liberalisation and the Gas Master Plan, on which Oando has collaborated with the federal government.
“Oando aims to help lay a nationwide gas grid within eight years and consolidate its regional presence,”he says.
“Where the West African gas pipeline reached landfall in Benin, Togo and Ghana, Oando aims to connect these hubs to the continent's interior. We're in an advanced stage of negotiations in all these countries.”
Oando has successfully migrated from coastal logistics to becoming a serious upstream player, eyeing swamp assets in the Niger Delta as a natural launchpad for aspiring exploration and production independents as foreign entities depart, despite the security risks.
“We have told the government there can be no military solution to the delta crisis,”he says.
“These youths must instead be integrated into the oil and gas sector, guarding installations.”Tinubu is irritated by what he sees as the slow implementation of reform and continues to agitate for the removal of fuel subsidies, which he says impairs industrial performance and constrains social spending.
“My motivations remain unchanged. I dream of creating Africa's first integrated oil and gas company, built to international standards.
“The Nigerian business climate is changing rapidly with the fiscal reform of public finances, reduced deficit spending and reserves nudging $45 billion, so it's up to the private sector to spearhead growth if we can kill of public sector corruption.”His tenacity has inspired others. Earlier this year he was acknowledged by the Swiss-based World Economic Forum as one of the Young Global Leaders for 2007.
“I am determined. I never give up and actually I see myself as a bit of an adventurer,”Tinubu says.
A jazz fan and avid reader of autobiographies by successful corporate leaders, Tinubu likes to ponder on the evolution of global events, devouring works detailing major battles that shaped the world.
He lives with his wife and five children on the Lagos lagoon in Ikoyi and enjoys swimming and watersports .
--------------------------------------------------------------------------------
23 February 2007 00:01 GMT | last updated: 23 February 2007 08:03 GMT
tryoty the JDA protects and buffers us from any political interference from both countries
Recall the 2003 Coup in Sao Tome
no effect on us or our rights
Fishdog JB would say "CVX is using A GAME OF WORDS" when describing OBO-1 "I PROMISE YOU"
some one scooped some cheap shares today
BSK ask WB / JB or the JDA
they will all tell you CVX is LYING, being "UnProfessional" or using a "GAME of WORDS"
BL 1 as PUP indicated was a throw away well on the fringe of the structure
why are they so eagar to drill additional wells in BL 1 ??
Read last weeks ADDAX report saying the JDZ is among the most
exciting acerage in all of Africa - WORLD CLASS POTENTIAL
ADDAX are not HYPESTERS imho
ADDAX Presentation CEO Jean Claude Gandur
Feb 14, 2007
Audio
http://events.streamlogics.net/scotiacapital/feb14-07-noreg/index.asp click Addax
Highlights
Achievements
Adding 1.2 Million deep water acerage
2007 goal to increase oil production by 40%
Nigeria
2006 produced 86,000 bbls / day in Nigeria
4 RIG Drilling campaign
2007 will be very active
add a 5th RIG
up to 20 wells
JDZ
"Major Component"
"Significant ownership"
"Very Exciting"
on Trend with WORLD CLASS Oilfields
High impact exploration
Very Exciting Acerage
Exploration TEAM in place
Shhhhhhhh Walldog - they are hiding - from us and BM
G-D for Bid we sniff them out for who they are
--------the REAL DEAL MAKERS---------------
MPE = MFC
http://www.mfcholding.com/cms/view.php?id=125
WB and RM are missing - perhaps the GAG order is in overdrive
Balance - Bravo EM
JB also the endless lawsuits by former employees / agents etc
he must go or our PPS may not
Walldog agree however SEO has led us badly from a management perspective.
a] not letting WB get the job done
b] hiring a fake CPA on and on ..
and perhaps to his legacy brought upon a DoJ case.
No one is ungrateful for the deals he has struck and the agreements and partners who have come forward and the Free Carries and PCS and Cash infusions
BUT OUT STOCK and PR SUCKS and the fault must lie with the Captian,
so let him STEP ASIDE - NOT go AWAY just STEP ASIDE - Minority Control
let some real OIL MEN run our ship - we still have rough waters to navigate and we cannot afford to hit another iceberg
and most of us would like not to DIE with our ERHE shares
Baby needs a new pair of shoes
we dont need to bid - we're connected
Side.. your post gave the hint no CEO yet ..
ask your self why ?
did Upstream simply make up the story ?
our PPS seems pegged in a tight range doesn't it ?
ssssssshhhhhhhhh no LEAKS ?
do you like surprise partys ?
--SURPRISE--
$2-3
Starting in 2007 that how it reads
JDZ BL 3 drilling this year - 2007
http://www.anadarko.com/operations/international_frontier/exploration.asp
scroll down
Press Release : Addax Petroleum Corporation
Addax Petroleum Presents at the 2007 Scotia Capital Energy Summit
Thursday February 8, 7:59 am ET
/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA OR JAPAN/
CALGARY, Feb. 8 /CNW/ - Addax Petroleum Corporation (TSX: AXC - News; "Addax Petroleum" or the "Corporation") announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the 2007 Scotia Capital Energy Summit in Toronto, Canada on Wednesday, February 14, 2007 at approximately 1:30 p.m. Eastern Time. The presentation will include information detailing the company's performance, strategy and outlook
Investors are invited to listen to the live, audio-only webcast via the following link:
http://events.streamlogics.net/scotiacapital/feb14-07-noreg/index.asp
The presentation slides will be available prior to the presentation on Addax Petroleum's website at www.addaxpetroleum.com.
About Addax Petroleum:
Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8,800 bbl/d for 1998 to an average of approximately 90,000 bbl/d for 2006. Further information about Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com.
MN - LOL
2007 or 2008 ?
apparantly LedBetter has quite an entourage
AA your track record on predictions has never been on the mark -
many here have indicated the potential for a buyin/buyout
rumors confirmed my BM
while the LEAKS have all but shut down
we'll know when we know - all intel still suggest game on
roll the dice
how come CVX's 280 ft of NET PAY in Angola is A SIGNIFICANT
OIL STRIKE !!! and our JDZ 150 ft NET PAY is a bust - lol
Chevron consortium strikes oil in Angola sea
Fri Jan 26, 2007 4:07am ET
LISBON, Jan 26 (Reuters) - Five oil companies led by U.S. oil firm Chevron Corp. (CVX.N: Quote, Profile , Research) have made a "significant" oil discovery at Block 14 in deep water offshore Angola, one of the partners in the consortium announced on Friday.
Drilled at a water depth of 10,958 feet, the Lucapa-1 well is estimated to hold more than 280 net feet of oil in Miocene age sands, said Portuguese oil company Galp, which holds a 9 percent stake in the consortium.
"The discovery will be followed by further appraisal drilling in addition to geological and engineering studies to appraise the field and assess its potential reserves," Galp said.
Chevron is the main shareholder in the consortium with a 31 percent stake while local state oil firm Sonangol, Italy's ENI Angola (ENI.MI: Quote, Profile , Research) and Europe's Total SA (TOTF.PA: Quote, Profile , Research) each hold 20 percent.
Angola is sub-Saharan African's number two crude oil producer. The Lucapa-1 discovery is the 10th exploration discovery made in Block 14 since 1997, Galp said in a statement.
© Reuters 2007. All Rights Reserved
Condor if the real ER insiders felt it was an issue the pps would have crashed back in May after the raid
recall the day after was an opening at $.59 and a rebound back close to $0.80
Bottom line it cant affect our treaty protected rights
now we sit after the CFO / CFO blunders and await further direction from Management - and its this quiet period w/out news that has sent the daytraders off to greener pastures
We have great partners Addax especially - they are among the favorites in Africa currently ...
btw I got a reply from ADDAX that no Official RIG Group has been established yet - and nothing official to announce yet as far as drill schedules [standard response]
our best hope near term is SEO gives up majority control to an investment group or US/Foreign Oil co.
That should send us back to $.80 for starters and perhaps pave the way for some hedge funds to park some long awaited $$ with us - OILY says $6 many others have said north of $2 - fingers crossed
we Aint worth $.40 - with what we got
CVX can play all the games they want - it just wont matter
thanks S FREED !! nice to know we are still on track
Upstream / related
US player shooting for Guinea
By Upstream staff
Houston-based Hyperdynamics plans a further 18,000 kilometres of 2D seismic off the Republic of Guinea and may also shoot 3D seismic before taking on partners to pursue operations after several years of delay, writes Barry Morgan.
Since 2002, Hyperdynamics has completed a raft of reprocessing as well as fresh surveys on the acreage representing the bulk of Guinea-Conakry's offshore.
It has also contracted GlobalSantaFe subsidiary Applied Drilling Technologies to investigate the logistics of operating there.
It is expecting a full report next month.
Its licence covers 80,000 square kilometres and data is being packaged to tempt potential partners and farm-in suitors.
The new production sharing contract has been filed to the US Securities&Exchange Commission.
The work by GlobalSantaFe will knock about nine months off the drilling programme once it is finalised.
Guinea was rocked last weekend by mass street demonstrations which have since taken the form of a popular uprising, resulting in scores of fatalities.
Violent protests against ailing President Lansana Conte's 23-year rule haves now spread to the suburbs and other towns.
--------------------------------------------------------------------------------
26 January 2007 00:01 GMT | last updated: 26 January 2007 00:01 GMT
Nigeria-Sao Tome JDZ FPSO BL 1 ??
The first exploration well in this zone, Obo 1, was drilled early last year by Chevron in partnership with ExxonMobil. Although full results were not declared, it seems the well did not prove to be the great success hoped for. Obo 2 and 3 may be drilled at the end of 2007 to appraise whether the find is indeed commercial. There has been talk of shortcutting the time to first oil using a floating EPS (early production system), an approach ExxonMobil has used successfully in both Nigeria (Yoho) and Angola (Xikomba). Perhaps this is the planned shortcut to commerciality.
more actually - double OILPHANT's EST. on RB
I recall the post said "++"
50+ Billion BBLS in the Whole JDZ/STP
we may not know for some time but that is what the major ERHC holders are waiting for ...
that or a $50 PPS - which ever comes first
Great News EEZ auction in 2007 !!!!!!!
Oily Thanks - but give us an update !!!!!!
SEO speaking
Too Late for Talk
Minnow Caught
Buy in
$6
You saw ERHC doubled+ their office space kinda odd for only 3 employees unless Ledbetter has 20 Admins
its good to see this in print but confusing as there is no new info and repeated info from last yr
either way its hinting there is more to come
really hundreds of millions spent to drill and they cant say if its commercial ?
come on does anyone believe that ?
Called & Confirmed !!! ERHC is in new space at the start of the year. As indicated in last update, they have more space to accommodate for future growth
after all these years and now larger offices ??
somethin's cook'n
some new [developments] perhaps on RB
loose lips sink ships !!!!!
ck the VOL up Blips last 60 days
no one is talking
only a select few are in the know IMO
us Ave. Joe's are CUT OFF from leaks