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IS ANYBODY LISTENING?
You wrote that the drilling results were supposed to have been released in the fourth quarter 2009, but ERHC did not provide that guidance. No results were expected while drilling activities remain underway. Data is still being collected and the analysis is still being done.
This subject is discussed in the FAQ posted to the ERHC Web site:
http://www.erhc.com/faq/
I have pasted the pertinent portion below. Moreover, the company’s update to shareholders on 9/1/2009 made it clear that the JDZ drilling program was a coordinated effort to examine the feasibility of developing the area as a field that encompasses numerous prospects. That can’t be accomplished by analyzing individual wells – it has to take all the wells into account and analyze the composite picture, which is what the exploration team is doing.
http://www.erhc.com/en/art/109/
Q. ERHC often says that it can't disclose drilling outcomes because of contractual and regulatory constraints. What are those constraints and where are they contained?
First, it is important to understand that the information is not yet available to enable definitive reporting on drilling outcomes and prospectivity of the Blocks in which the exploratory drilling campaign is being carried out. The requisite analyses that produce such information are currently going on to determine the nature and extent of hydrocarbons encountered. Moreover, as we stated at the beginning of drilling, this is a five-well program and drilling in the fifth well is still going on. This first part of the drilling campaign is therefore not yet complete.
The Joint Development Zone's Petroleum Legislation stipulates the Joint Development Authority's overriding authority regarding operational information submitted by the operator. Contractual obligations also bind the operators and consortium partners in each Block to comply with agreed operational procedures in the JDZ. ERHC is determined to release results in accordance with and as permitted by those regulations and obligations immediately when we have the results and the relevant authorizations.
If you look at similar deepwater drilling initiatives, you will see that the current analysis period is normal. An example is the recent announcement by the operator of a discovery at Owowo South B-1 well. The drilling at the well was completed in the second quarter of 2009 and the results were announced in mid-December. Moreover, it was the operator that announced the results. Other interest holders waited for the operator to make the announcement and THEN they followed with their own announcements. The situation in the JDZ is the norm in oil and gas exploration.
The requirement on management of information is woven into the fabric of the industry. It is the result of the fact that every exploration program has many players with an array of interests. Without strict controls on management of information, inaccurate information would be inevitable. Moreover, the general operating procedure and convention in the oil and gas industry is that definitive announcements on the nature and extent of any hydrocarbons encountered (and particularly on commerciality) are made after all analyses are complete. This procedure and convention has been adopted formally in the Joint Development Zone at the direction of the Joint Development Authority.
We are proud of the fact that most of the official/formal information that has emanated on the exploratory drilling in Block in which ERHC has interests has come from ERHC! This is despite the fact that apart from the operators and ERHC, there are several other companies with participating interests in each of the three JDZ Blocks. We have aggressively and proactively encouraged our being given authority to disclose information on drilling progress that would not otherwise have been disclosed. We have done so out of our determination to keep our shareholders as informed as possible on drilling progress. A cursory search of independent news reports on the drilling campaign shows that they are mainly based on ERHC's press releases.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Facebook: http://companies.to/dpkpr/
Blog: http://www.theprcounselor-blog.com
Thanks Mark and good luck with the issue. I guess the JDA contact is in quiet mode. Take care.
Thanks, but he isnt here, and I dont do facebook.
retep, I think you are right. Mark would be posting with all we have going on if he could. Someone has shut him down IMO. Quiet modes dont last for 30 days in the midst of drilling 5 wells.
Posted by: markgovols Date: Monday, December 07, 2009 9:28:22 AM
In reply to: None Post # of 193042
****Trying to confirm a few things with JDA source and another source. Hope to update soon.
Does anyone find it odd that he is suddenly gone?
Anyone else notice that Markgovols vanished about the same time Peter changed his tune after the Youtube video? Did I just miss his post?
Very good read Walldog, thanks for posting the link, everyone should read to learn about the complex prizes that lie below.
Its very hard to beleive we arent trading above a dollar with all the drilling activity in our blocks. I know all major shareholders hold stock very close and have finished accumulating. We need positive announcements and a new exchange.
Of course, very good point which adds to the thought they dont need to adopt a "tigh hole" policy.
30 dollars a share for ERHC is a realistic possiblilty.
Make it so.
Amen.
Do you think the JDA would allow Sinopec to assume ERHC's EEZ rights? This approval might take some time. The Chinese wouldnt need to "tight hole" anything if this consumated, they would get 2 free EEZ blocks. Price wouldnt be a concern. On the other hand the EEZ might have nothting to do with the geology of the JDZ. Still, if finds were "company making huge" in the JDZ it would have some "effect" on EEZ prices.
Do you think ERHC would sell JDZ to Sinopec and retain other assets? Depends on the price offered. This exploration picture has to be developed before either ERHC or Sinopec can make a realistic offer to one another. This takes time.
Chrome as a major shareholder might do some service contract swapping in the shallow plays? What is Chromes role in these negotiations. Why did SEO move his shares into Chrome?
Glad our operator/partner is so RICH!
Remember Krom? they are opening a dataroom.
AFREN
Nigeria: Appraisal Boosts Ebok Reserves to 158 MM
Sopuruchi Onwuka
15 December 2009
http://allafrica.com/stories/200912160122.html
Pan-African multinational independent oil firm, Afren plc, has reported upbeat in it's appraisal drilling campaign in the Ebok marginal field, posting strong indications of reserves growth.
The company which is the technical and funding partner in the field development sated weekend that the Ebok-5 appraisal well, drilled by the Transocean Adriatic IX jack up, encountered a significant oil column during drilling.
The company stated that the well was drilled to a total depth of 3,743 feet on the Ebok Fault West (FBW) and encountered a total gross oil column of 377 feet (ft).
The column, according to Afren, was larger than predicted and was made up of 323 ft in the D1 and LD-1E reservoir sands, in addition to a further 54 ft of gross oil pay in the D2 and LD-1F reservoirs.
This larger than expected find has led to the upgrade in volumetrics for FBW to 158 million barrels STOIIP, of which 40 million barrels are believed to be recoverable.
The Ebok-5 increases total 2P Ebok recoverable reserve estimates to 93 million barrels.
Following the completion of the Ebok-5 well the rig re-located to the central area of the field to drill the Ebok-6 appraisal well. The well was spud on November 20 and is targeting an estimated 33 million barrels STOIIP and 8 million barrels recoverable in the D2 Southern Lobe.
Following completion of the Ebok-6 well, Development Phase 1a drilling will commence. Phase 1a development plans are comprised of five horizontal oil production wells in the D2 reservoir, one horizontal oil production well targeting the D1 reservoir, and one water injection well in the central Fault Block 1 and Fault Block 2 areas of the field.
Afren said that all the wells will be drilled from a single field location via a Well-head Support Structure (WSS) and mobile offshore production unit. Fabrication of the WSS is complete and is in transit for delivery to the project. The company is in the process of finalizing contract discussions on the production facilities. Associated gas produced will be utilized as fuel for the facilities' power generation and as gas lift to assist well productivity.
Osman Shahenshah, Chief Executive of Afren, commented: "The better than expected Ebok-5 well results further upgrade the reserve estimates for the project and provide a greater understanding of the broader Ebok - Okwok complex. With the benefit of an additional oil bearing data point, we will continue to deploy our core technical strengths and enhanced understanding in further unlocking the remaining upside potential at both the Ebok and Okwok fields."
Business Champion reports that Afren and its partner Oriental Energy Resources had signed a drilling contract for the Transocean Adriatic IX jackup drilling rig for the Ebok Field oil development offshore Niger Delta.
Commencing operations in September 2009, the company stated that the Adriatic IX jack up drilling rig has been secured at a rate of US $97,000 per day for the first 250 days of operations, with a rate of US $85,000 per day there-after, based on a 425 day extension.
The Adriatic IX rig was deployed for an extensive drilling campaign at the Ebok Field located in OML 67, offshore Nigeria.
Pending Government approval of the formal Field Development Plan, Ebok Field development commenced with the drilling of six horizontal production wells and one vertical water injection well.
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Two appraisal wells to test the additional upside potential within the Ebok West Fault Block and D2 Southern Lobe of the Field were also to be drilled.
The Ebok Field Development Plan ("FDP") has been submitted to the Department of Petroleum Resources ("DPR"), and contract negotiations were on for field production facilities and requisite infrastructure.
Originally discovered in 1968, the Ebok-1 well encountered four oil bearing sands, which significantly de-risked the project at the outset.
Appraisal drilling by the Afren/Oriental partnership in Q4 2008 proved 2P reserves of 53 mmbbl in the Fault Block 1 & 2 areas of the field (in excess of pre-drill minimum economic field size of 20 mmbbls).
Upside potential of an additional 99 mmbbls identified (includes 45 mmbbls in Qua Iboe sands).
Deja Vu " The partners on these wells are being very closemouthed"
Nigeria: Addax Spuds JDZ Oki East Well
Sopuruchi Onwuka
15 December 2009
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Partners have spudded the next well in Sao Tome and Principe (STP) and Nigeria's Joint Development Zone (JDZ).
Addax Petroleum, the operator of Block 4, has commenced drilling the Oki East well. Drilling is estimated to take approximately five weeks, although the actual timing is dependent on many factors, such as drilling penetration rate, fluids encountered, borehole stability and equipment maintenance, among others.
This is the third well in JDZ Block 4 and the fifth well drilled in the JDZ in recent months. Addax is using Transocean's Deepwater Pathfinder to drill the Oki East location.
The most recent well drilled by Addax in the JDZ was the Malanza 1X well. A comprehensive analysis that incorporates the drilling results into relevant geologic and fluid models will now be carried out.
Other JDZ wells drilled this year in include the Kina well on Block 4, the Lemba 1X well in Block 3, and the Bomu-1 well in Block 2.
The partners on these wells are being very closemouthed as no details or results have been issued which leads the industry to wonder just what resources are contained in the JDZ.
IMO ... Nothing has changed besides more good news, confirming leaks and more drilling ... PEOPLE can you say "screaming buying opportunity" We should be at 2 bucks a share right now.
Date: Fri, 9 Oct 2009 09:07:45 -0500
Subject: ERHC
ERHC announces positive results from drilling in Sao Tome/Nigeria – Platts News (CAPE TOWN)jmora 8 October 2009 Copyright 2009. Platts. All Rights Reserved.
Houston-based ERHC Energy said Thursday exploratory drilling in blocks 2 and 4 in the Joint Development Zone between Nigeria and Sao Tome has shown positive results although it was still early days in the drilling program. ERHC's consortium partner Addax Petroleum and operator of block 4 secured Transocean's Deepwater Pathfinder rig in March to kick-off its drilling campaign and spudded a well on the Kina prospect in the block."
Based on the early analysis done to date, the well encountered hydrocarbons, but a detailed evaluation of information from the well has only just commenced so it is far too early for any conclusions to be drawn on the extent and quality of the hydrocarbon system encountered,"
ERHC said in a statement.The rig has now moved from block 4 to block 3, in which ERHC has a 10% interest, and drilling commenced on the Lemba prospect on Wednesday. Once done in block 3 in approximately five weeks, the rig will move back to block 4 to drill two additional wells.
ERHC said specific drilling locations of these additional wells will be determined in due course.ERHC's consortium partner Sinopec has also finished exploratory drilling the Bomu-1 well in block 2 where natural gas has been discovered. It said a detailed evaluation of information of the well has only just be commenced so it is far too early for any conclusions to be drawn on the extent and quality of the hydrocarbon system encountered. ERHC has a 22% stake of the Sinopec-operated block.Sinopec has said that its drilling results might be released in the fourth quarter while Addax is expected to provide guidance in due course on the release of its results.When this initial drilling campaign is completed, a total of five wells will have been drilled in the zone.Nigeria and Sao Tome have agreed to split revenues from the blocks on a 60/40 basis
Why didnt you ask it then?
Add 1 more to the unemployed, lol
Farrell, Very good post. "The good news is we know all 4 wells showed hydrocarbons. The oil was is the "expected amounts" which should correlate with the NSAI results. More gas was found than expected. The Bomu well has large amounts of gas and oil; similar results to the early Akpo drilling results.
At this point we know more than we should and the news is good"
Which leads to this BOARD BEING ITS OWN WORST ENEMY.
This is the reason for the CC downplay, they are trying to quiet us because they dont want to be accused of releasing information in an untimely manner. Peter's youtube smile may have sparked this fear and this isnt the first time their hand has been slapped. Open your eyes people, the show has just begun.
Bottom Line: Anyone selling here is missing the GREAT NEWS that we HAVE OIL AND GAS as "expected" and much much more to come. I thought for sure we would be at 85 cents today on THE FACTS!
Compliance, communications and legal department exactly as before and promised , this is nothing new, all CC have been the same- nothings changed in the last 20 hour. Except traders making emotional mistakes and MMakers taking advantage of them.
Krom, The Angola LNG plant is in direct route to China, is that your point? Nice summary too.
I have to say it is so fitting that the hardest working, most consistent, level headed poster posted this incredibly good news first. Thank You HOMEPORT for all your reports. The show starts now.
Krom, Thanks for the elevator presentation to the fish taco guy!
Thats the point, don't wait you'll miss out on bigger returns.
ie...I started at 10 cents so I am kinda biased. lol Good Luck.
IMO. Anyone trading needs to keep in mind that once the company knows what we have, massive price appreciation or news of partial BUY OUT offers and stock dividend etc... could come very very quickly, traders would completely miss out.
I think a partial purchase, buy-in, consortium development, division of assets is probable as it will take longer to evaluate all our assets and their potential.
If the findings are extremely strong a buyer could meet MR Offors demands and we would be sold! But I still think we would keep or spin off the (shallow marginal fields?) EEZ.
ERHC has an incomparable bright future, you just cant get this potential without a crystal ball. Myself, Ive accumulated many shares for 9+ years. GLTAL
I'll second that request! Very fun Michigan!
5 WEEKS AT 600,000/DAY IS 21,000,000 MINIMUM......
SMELLS LIKE LIQUID GOLD TO ME.
5 WELLS ESTIMATED AT A COST OF 100,000,000 SOUND LIKE A NICE START TO THE CAMPAIGN GUYS AND GALS.
WALLY, HOW ABOUT SELLING PETER N. T-SHIRTS WITH A HUGE SMILE ? LOL
The less said about findings from us the better. There really isnt anything to say until results are released by our operator. No one knows what they have discovered so far, but for years to come they will be uncovering more and more oil and gas.
Conservative seismic studies show a minimum 37 prospects in the JDZ alone, not to mention the vast size of the also encouraging preliminary results of the EEZ. The facts are very encouraging and Peters video interview was very positive IMO.
Low volume run down "games" by the MMakers are the real problem. We need to get off this BS exchange. These manipulative head fake trades are driving us all nuts. How do we get off the OTCBB?
Let the show begin! Bring up the curtains! NOW.
REAL(ITY )NEWS WITH REAL COVERAGE IS WHAT WE NEED. ITS COMING AFTER ALL THESE YEARS. Ive been waiting since 1999 for this.
Till volume reaches 4 to 5 million its all a Reality TV game Show to the Market Makers and apparently, Peter N. could be auditioning with that smile...lol.
NO one is selling any significant amounts with news pending, Tightly held shares is a understatment. 722 million shares are out there, Id'e like to see just 1% trade - 7.2 million.
A re-hash of the Official News and Marks remarks and knowing 100's of hard working people are trying to make us rich, while we sit here waiting for something to happen, makes for a peaceful nights rest.
I cant wait for phase 2! GLTAL's
In 2009, the independent engineering firm, Netherland, Sewell &
Associates, Inc. (NSAI) released a Resources Assessment for ERHC that examined unrisked and risked prospective resources for JDZ Blocks 2, 3 and 4. The NSAI report estimated ERHC's unrisked prospective resources in those JDZ Blocks totaled more than 336 million barrels of oil and 372 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Blocks 2, 3 and 4 totaled 135.5 million barrels of oil and 144 billion cubic feet of natural gas (P50).
Addax Petroleum Corporation (“Addax”), the operator of JDZ Blocks 3 and 4, has finished drilling a well at the Kina Prospect in Block 4 in which ERHC has a 19.5 percent interest. Based on the early analysis done to date, the well encountered hydrocarbons, but a detailed evaluation of information from the well has only just commenced so it is far too early for any conclusions to be drawn on the extent and quality of the hydrocarbon system encountered. A comprehensive analysis that incorporates the drilling results into relevant geologic and fluid models will now be carried out.
Following the initial drilling operation in Block 4, the Deepwater Pathfinder has moved to the Lemba 1X well location in JDZ Block 3 in which ERHC has a 10 percent interest. Exploratory drilling at Lemba 1X commenced yesterday. We estimate it will take approximately five weeks, although the actual timing is dependent on many factors, such as drilling penetration rate, fluids encountered, borehole stability and equipment maintenance, among others.
Once done with the Lemba 1X well, the Deepwater Pathfinder will move back to JDZ Block 4 to drill two additional wells. The specific drilling locations of these additional Block 4 wells will be determined in due course.
Sinopec JDZ Block 2 Limited (“Sinopec”), the operator of JDZ Block 2 in which ERHC has a 22 percent interest, has also finished exploratory drilling at the JDZ Bomu-1 well location. Based on the early analysis done to date, natural gas is discovered, but again a detailed evaluation of information from the well has only just commenced so it is far too early for any conclusions to be drawn on the extent and quality of the hydrocarbon system encountered.
This is an exciting time for the ERHC family. When this initial drilling campaign is completed, a total of five wells will have been drilled. Each well will be evaluated using several standard oilfield methods and the rock properties and reservoir fluids will be measured and evaluated
http://www.erhc.com/jdz/index.asp
Mark, Thank you for relaying the sources infromation, can you talk him/her into posting here? lol
Wait for it people and quit complaining.
You forgot IMO in your statement. You should take a vacation.
Emeka already owns Chrome services and has the indigenous politicians supporting him. These Circle guys are locals IMO.
The location of OML46 (w/a/guess) is probably directly in line with the Power generation plant they are hoping to modernize for more realiable power generation. Additionally, the gas in that area is probably suited just for that use with little stripping required. Chrome has to be involved. They may have much more knowledge than old reports of OML46 as well.
I expect some type of trade with Afren/Excel etc. Using the EEZ/JDZ as value if a deal goes through. Very little cash, unless we have already hit the motherload.
For discussion: Do you think the Chinese could pull off a OML46 partnership like ERHC is trying. If not this might indicate a possible power play or flexing of muscle in local waters. ie.. ERHC has a huge political advantage over Sinopec. One "local" aquisition of many to come possibly. "Deal the cards!"
Today diplayed the power of youngsters fear and OTC Market-makers greed.
Some investors here have never played this oil game and dont understand there is NO CLOCK, NO predictions, No guarantees, good things happen to those who wait and are lucky. Only with Gods help will all this work out for ERHC, is he with you?
Stay tuned for THE SHOW IS ABOUT TO BEGIN ! GLTAL's
Thanks, exactly, Also, there are many ways to participate other than cash with our bright future and vast oil rights. This MOU move speaks volumes of confidence.
Proven. Article from Rigzone
Mart Completes Eremor Field AgreementMart Resources|Tuesday, October 19, 2004
Mart Resources has signed the formal agreement with Excel Exploration & Production Company Limited that grants Mart the right to participate in the development of the Eremor Oil Field in Nigeria with Excel. The Eremor Oil Field is located in Nigeria's Niger Delta region and was awarded to Excel under the Nigerian Government's marginal field allocation program. Fields allocated under this program contain significant proven reserves determined by previous drilling, but remain undeveloped. Mart and Excel are currently arranging to contract a service rig to begin testing, re-completion and development of this proven oil and gas field, and plan to have a rig on location as soon as practically possible.
The Eremor Oil Field is located in close proximity to existing production facilities and export pipelines, and provides a unique opportunity to develop a low risk, proven field that can generate substantial cash flow for Mart. The Field was discovered in 1978 by the Eremor #1 well, which encountered a thick sandstone reservoir at a depth of 5,744 feet. The Field was successfully appraised by a confirmation well in 1984, which penetrated the same oil-bearing sandstone reservoir as the Eremor #1 well. Both wells also encountered a shallower zone containing light oil or condensate and gas at a depth of 5,469 feet.
Mart and Excel retained Horizon Energy Partners to conduct a detailed technical evaluation of the geological, geophysical and reservoir data from the Eremor Oil Field, which included evaluation of 3D seismic data acquired in 1999, and the construction of a reservoir simulation model for the development of the field.
The Eremor Field is one of 24 proven oil and gas fields that have been granted to indigenous companies under Nigeria's allocation program. Mart is presently negotiating agreements to participate in several additional proven fields.
How would you feel if Sir Offor was the one who made these decisions?
Ditto
Obviously, ERHC's management isnt concerned with paying for the aquisitions! This alone SPEAKS VOLUMES. They apparently have excellent news coming. Thats one reason they would announce this MOU right now. Another reason is to show potential BUYERS, they are steadfast and patient in developing the JDZ & EEZ to FULL production. Long term plans are always in play when buy outs occur. Good news coming IMO!
Seriously? down on this, MOU news? This is a 10 dollar stock eventually IMO. This MOU is nothing but a bone for Mr. Offor to spread his influence where he still can while the Chinese look on. I am sure Chrome is involved. This news is welcome, good business manuevering IMO. Its certainly no reason to sell. This is oil politics and at ERHC's current PPS its time to add shares.
24-Nov-09 7:30 AM CST Print | More options ?
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ERHC Energy Inc. Pursues Investments in Nigeria Oil and Gas Industry
Signs Memorandums of Understanding related to interests in Eremor Marginal Field and stake in oil well testing company
HOUSTON, November 24, 2009 – ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of West Africa, today announced that negotiations are underway on potential investments that would expand the Company’s presence in Nigeria’s oil and gas industry.
ERHC has signed a non-binding Memorandum of Understanding (MOU) with Circle Ltd. and Excel Exploration and Production Ltd. to negotiate investment in and acquisition of working interests in the Eremor Marginal Field (OML 46). The Eremor Field, which is located in shallow water off-shore Nigeria, was discovered in 1978. The discovery well, Eremor-1, encountered three oil and gas zones, the most prominent of which is the D-03 reservoir with 43 feet of net oil sand. It was re-entered for testing in 2005 with the D-03 reservoir testing 2,200 barrels per day of oil with API gravity of 22.0, a low gas to oil ratio and no water. Excel was awarded a 100 percent interest and operatorship of Eremor in 2003.
ERHC, through its locally incorporated subsidiary, ERHC Energy Nigeria Ltd., has also entered into a non-binding MOU with WellTest Integrated Services Ltd. to negotiate the acquisition of a controlling equity interest in WellTest. The company provides well testing, production engineering and procurement services to Nigeria’s oil and gas industry.
To coordinate the Company’s business development in the Nigerian and West African oil and gas industry, ERHC has opened its Nigeria liaison office at Oguda Close, Maitama, Abuja. The Company’s wholly owned subsidiary ERHC Energy Nigeria Ltd. operates the liaison office.
“With considerable progress being made in the ongoing exploration campaign of our oil and gas interests in the Nigeria Sao Tome and Principe Joint Development Zone (JDZ), this is the right time to accelerate business development activities elsewhere,” said Peter Ntephe, chief operating officer of ERHC. “These opportunities will begin the process of diversifying our portfolio of assets and accelerate the timeline for producing revenues. We are also investigating other exploration and production opportunities and will report progress to stockholders at the earliest appropriate time.”
The MOUs are non-binding and the completion of the transaction is subject to, among other things, negotiation of a definitive agreement, satisfactory due diligence and adequate financing. The parties expect to enter into a definitive agreement and complete the transactions, subject to satisfaction of closing conditions and the receipt of all necessary regulatory and other approvals, including board approvals.
ERHC Energy has interests in six of the nine Blocks in the offshore JDZ and realizing the value of these interests remains the Company’s primary focus. A comprehensive drilling campaign is currently underway in JDZ Blocks 2, 3 and 4. The Company has additional interests in the Exclusive Economic Zone (EEZ) of Democratic Republic of São Tomé & Príncipe.
Just wait for official news, the rest is just "smoke".
Nigeria: Partners Spud Four of Five JDZ Wells
Sopuruchi Onwuka
22 November 2009
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The drilling of the next well in the latest rash of exploration of Sao Tome and Principe (STP) and Nigeria's joint development zone (JDZ) has gotten underway.
According to ERHC Energy Incorporated, a partner on several blocks in the JDZ, the drilling of the Malanza 1X well on JDZ Block 4 has begun. The well is being drilled using Transocean's drillship the Deepwater Pathfinder. The well is expected to take five weeks to drill.
The Malanza 1X is the fourth well to be spud in the JDZ and the second on Block 4 in the campaign schedule which kicked off in August with Sinopec spudding the Bomu-1 on Block 2. Following the Sinopec spud, Addax Petroleum (now owned by Sinopec) spud the Kina-1, followed by the Lemba-1.
One additional well is expected to be drilled in the current drilling campaign in the JDZ. While no results from any of the wells have been released, it was reported that the Bomu-1 hit gas while drilling but a detailed evaluation of information from the well has not been completed.
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The Kina-1 also encountered hydrocarbons but as in the case of the Bomu-1, no firm results are in yet on the extent of those hydrocarbons. The Lemba-1 finished drilling last week; results for this well are pending as well.
ERHC said that a comprehensive analysis that incorporates the drilling results into relevant geologic and fluid models will now be carried out. The information from these wells is helping the exploration team understand the geology and hydrocarbon potential of the various prospects being drilled and provides valuable insight into the prospectivity of the entire area.
"We are thrilled that the drilling campaign continues to progress on schedule and we look forward to the release of comprehensive drilling results when the operators complete their analyses," said Peter Ntephe, chief operating officer with ERHC.
Pete, I think all us LONGS will eventually be rewarded. Hopefully before Christmas!
What are the plans for the JDZ in Phase 2?
Do they know what the phase 2 schedule is before analysis of Phase 1?
They are very busy anyway you look at it with assessment, evaluation, examination, inspection, investigation, scrutinizing, arrangement, assortment, cataloging, categorization, classification, codification,division, segmentation, separation, subdivision
Art, maybe the JDZ has 5 or 6 times the Oil of Apko as well! Keep the faith.