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the best way to kill any Deal is to have the PPS run up prior to news, especially with the Feds on our back
so we wait, accumulate and HOLD
Thx OILY - who gave up the added percentages, ERHC??
If so for what would we get? Cash, Stock?
There are many things to guess upon regarding the PPS + Volume spike of late
BTW, IMO no one manipulates buying of 1 MM shares after being quiet for months unless ....
a] Short Covering
b] CEO, or CFO signed
c] SEC + DOJ update
d] rig secured
f] drilling consortium update
e] Investent group positioning
f] SEO moving aside
after 6 years in this POS [LOL] stock its easier to call the trends - sure smells like something is up
eithor way it appears at the very least the bottom is in and shows how few shares can get the engines moving
L&S
DOMS appears to be Short covering
Upstream - Sao Tome oil to flow 'by 2010'
By Upstream staff
Oil could flow from Nigeria and Sao Tome and Principe's Joint Development Area (JDA) by 2010, a body representing country's producing oil off west Africa said today.
"Production could start in the joint area within four or five years if everything goes as planned," Carlos Gomes, executive secretary of the Gulf of Guinea Commission said, MarketWatch reported.
Gomes said Chevron, which struck oil and gas in the first well in the area earlier this year, planned to sink a second test bore next year, the news service reported.
Under the agreement covering the JDA, 60% of royalties from the area will go to Nigeria and 40% will go to the tiny island of Sao Tome and Principe.
Gomes was previously chairman of the Sao Tome-Nigeria Joint Development Authority, which manages the offshore area common to both countries.
The Gulf of Guinea Commission comprises Angola, Cameroon, the Democractic Republic of Congo, the Republic of Congo, Equatorial Guinea, Gabon, Nigeria and Sao Tome and Principe, which jointly produce about 4.5 million barrels of oil per day, or about 5% of global production, from the waters of Africa's western coast.
--------------------------------------------------------------------------------
13 October 2006 20:39 GMT | last updated: 13 October 2006 20:39 GMT
WASHINGTON (Dow Jones)--ERHC Energy Inc. (ERHE) said Thursday that the Securities and Exchange Commission has issued an additional request for the company's personnel records relating to former chief financial officer Franklin
Ihekwoaba.
The oil and gas company disclosed the new development Thursday in a filing with the SEC.
Ihekwoaba resigned in July after informing the audit committee of ERHC Energy's board that he shouldn't have used the designation CPA - indicating "certified public accountant" - after his name and that he had filed for
personal bankruptcy in December 2005.
ERHC Energy said in June that the SEC was investigating its correspondence with foreign officials or entities in the African nations of Sao Tome and Principe and Nigeria. The company also has disclosed that the U.S. Justice
Department is investigating its activities in a joint-development zone off the coast of Nigeria and Sao Tome and Principe.
-By Ed Welsch, Dow Jones Newswires; 202-862-1356; edward.welsch@dowjones.com
(END) Dow Jones Newswires
10-12-06 1847ET
Copyright (c) 2006 Dow Jones & Company, Inc.
18:47 101206
sure its just a re-hash of the 8k
BB contact ADDAX - they will say different
Mr. Craig Kelly
Investor Relations
Tel. : +1 (403) 668 4588
craig.kelly@addaxpetroleum.com
Mr. Patrick Spollen
Investor Relations
Tel.: +41 (0) 22 702 95 47
patrick.spollen@addaxpetroleum.com
Mr. Mac Penney
Press Relations
Tel.: +1 (416) 934 80 11
mac.penney@cossette.com
Ms. Marie-Gabrielle Cajoly
Press Relations
Tel.: +41(0) 22 702 94 44
marie-gabrielle.cajoly@addaxpetroleum.com
The Only Real shorting / manipulated selling was 2003-2004 prior to awards and post the cancellation of the 1st JDZ round
we later THINK we found out it was the Africans selling into the Americans [we will never know]
This was easy to Spot DOMS / NITE at the ask every step for years
this past year or so hasn't been an issue - no real selling threat since 2006 awards - gravity if anything and lack of news
BB would argue its TDCM but they are not an issue at all
IMO
so now I'm a fibber too?
Believe what you want.
I'd take Electic more seriously. Contacts are solid.
This has never been an easy asset to own, more controversy, more twists and turns.
Been here since 1999 I dont need you to tell me what's what.
Night : NOT opinion FACT -
Do you communicate with Barry Morgan?
Do you communicate with the JDA members?
Do you communicate with Electic?
Do you contact ERHC and Addax on a regular basis?
I do
Kobi : its Called PR, of which we have zero
the Greatest news of our history was PR'd at 3:45 pm on a Holiday Friday.
I guess you were thrilled with EOs leadership on that.
How bout hiring a croney CFO another great job.
How bout the dozen lawsuits vs. ERHC the DoJ is looking into.
how bout the 50 Million share transfer to FAB
we can play this game all day
we are at $.37 and should be $3.70, JMHO
Nightdaytrader : You are Dead Wrong! FACT.
Umbra : I'd settle for sidelined not out!
BB : Chill Bud
Guys Electic is right on! SEO as I posted yesterday IMO is the reason the pps is where it is.
Poor management of ERHC period.
He got our rights secure and perhaps he was the best man for the job. I was once told he has used up all his favors in getting us BL 2 and BL 4 over XOM And APC.
But to run the day to day ERHC is not his bag.
He needs to give up control and let a real oil man run the show. WALTER was the man but SEO kept stepping on his toes, now he is gone.
from Meridian In my opinion the Option rights and PSC's can never be affected by any investigation, because the basis for the current PSC's and Option rights is the original agreement ERHC entered into with STP.
Then what did corruption buy SEO. I think his relationships with the key politicians ensured that ERHC was and will be able to enforce their rights. SEO may have made some promises in that respect. I do not know if that falls within the scope of the FCPA regulations.
Now we all know that all steps in the award process were legit and within the ordinary course of doing business. I do not see how anybody would be able to prove that some extraordinary steps were taken of which ERHC benefitted.
In short, I do not think this investigation to go anywhere
Amj yes perhaps you are thrilled with the price 6 years since after SEO took over
from $.01 in 2001 - $.37 to 2006
never broke a buck
a JOKE [the boss should step aside]
the Serious investment communuity has stayed away - ask your self why
who can take SEO seriously with the management mistakes he has made - Granted the JDZ has come out better for us with Addax and Sinopec - but at the end of the day the Leadership will take us further and so far we have gone backwards
hoping for a reversal
BTW Meridian was a valued poster with credible info that was spot on accurate during the BL signings...
From Meridian *Whatever happened between SEO and others happened at the shareholder level and nothing is in writing.
There is a difference between suspecting/knowing and actually being able to prove. IMO no proof will be found whatsoever.*
Art the best thing for us is SEO to be replaced [he is a wild man and cannot run a company - just look at our management and PPS]
He has done his job for us in the JDZ - we are all grateful and he will be a rich man - and us rich shareholders 1 day
THERE is STILL NO SMOKING GUN IMO on any ERHC activities based on the hundreds of stories and articles on related issues
there may be some smoke but NO FIRE
where is that OilPhant post saying the DoJ will clear ERHC
get er' done
in Oily's defense the bid firmed up and there was some better VOL
I was watching L2 and it appeared that something was cookn'
Thx Oily you da mon - Mark ease up till tomorrows close
Oilphant it appears you may have a small credibility issue here.
Help us Help you !!!
RE E E E E ALLY !! - LOL pls share or hint if you can
correct no buy talks to speak of but perhaps some better news on drilling as Oily has hinted at
everyone is pretty quiet
goheelz I inquired you may be on to something,
my birdies are more like ducks - lol
fingers crossed - hoping for good news soon
these prices are silly
Goheelz if every birdie that flew by on this board & RB came forth you wouldn't be able to see the sky.
This is an OTC-BB message board
We dont hold alot of clout
Simply premise your Gosh Golly news with *IMO*
We will all chalk it up to rumor and speculation - trust me - we know better by now
Exactly
Idahoseb .... a] securing a RIG b] cosortium announcing the drilling plans c] CVX/JMC Announce OBO-1 d] DoJ clearing ERHE or clarify [even with indictments] our rights stay secure e] drilling f] drilling results f] SEO Buy in
some other wild cards are
i] new CREDIBLE President / CFO named
TIME FRAMES are trickey I thought we would run in 1999,2001,2003,2004,2005 and 2006
The Politics in W.Africa are wild and unpredictable [STP+Nig.]
IMO SEO cannot run this company properly he must pass some controls [too many key mistakes made] just re read the Chronicle story
hoping for a reversal
Dane much of the VOL today are Double Prints
see 6800 twice and 14500 and
especially the 10s and 5k trades
TASL was a buyer earlier but now NITE is keeping us below .40
2:45:24 PM Trade 0.4 6800
2:45:18 PM Trade 0.395 6800
2:36:32 PM Trade 0.4 10000
2:36:26 PM Trade 0.395 10000
2:34:26 PM Trade 0.395 10000
2:26:12 PM Trade 0.4 5000
2:12:00 PM Bid 0.395 5000
2:10:22 PM Bid 0.39 5000
2:10:18 PM Ask 0.4 5000
2:10:08 PM Bid 0.385 5000
2:09:54 PM Trade 0.405 10000
2:09:48 PM Trade 0.4 500
2:09:48 PM Bid 0.4 5000
2:09:22 PM Ask 0.405 5000
2:09:18 PM Trade 0.4 4000
2:09:16 PM Trade 0.4 20000
2:09:10 PM Trade 0.4 5000
1:48:10 PM Trade 0.4 10000
1:48:06 PM Trade 0.395 10000
1:41:46 PM Trade 0.4 10000
1:41:40 PM Trade 0.395 10000
1:37:00 PM Trade 0.4 5000
1:36:52 PM Trade 0.395 5000
1:36:34 PM Trade 0.395 5000
1:35:22 PM Bid 0.395 5000
1:25:34 PM Bid 0.39 5000
12:57:20 PM Bid 0.395 5000
12:54:32 PM Bid 0.39 5000
12:53:06 PM Trade 0.4 25000
12:52:52 PM Trade 0.395 8200
12:52:42 PM Trade 0.395 20000
12:37:24 PM Trade 0.4 9000
12:31:54 PM Trade 0.4 100
12:31:34 PM Ask 0.4 5000
12:23:24 PM Trade 0.4 1000
12:11:24 PM Trade 0.4 20000
12:11:22 PM Trade 0.4 15000
12:11:22 PM Ask 0.405 5000
12:11:10 PM Trade 0.4 8000
12:11:08 PM Trade 0.402 2900
12:11:04 PM Trade 0.403 5000
12:10:30 PM Trade 0.4 5000
12:10:18 PM Trade 0.4 14500
12:09:46 PM Trade 0.4 14500
12:09:38 PM Trade 0.4 5000
12:04:00 PM Trade 0.4 5000
12:03:28 PM Trade 0.395 1250
12:00:32 PM Trade 0.395 500
11:59:40 AM Trade 0.395 14500
Blog update - interesting
LOTS MORE SMOKE !! Ivanovich strikes again
http://www.chron.com/disp/story.mpl/business/4194125.html
What's with this guy?
Mr. Keeney how bout a response
upstream STP = Diego Garcia
West frets over Gulf of Guinea threats
By Upstream staff
Western experts worried about the security of oil supplies from Africa's Gulf of Guinea have considered several doomsday scenarios, including suicide attacks by determined Islamist militants on offshore oil platforms.
But many analysts say domestic unrest is by far the bigger threat to a region whose oil is growing in strategic importance to the West because of increasing volatility in the Middle East.
Gulf of Guinea producers Nigeria, Angola, Gabon, and Equatorial Guinea and promising newcomer Sao Tome & Principe already supply 16% of US energy needs and the figure is projected to rise to 25% by 2015.
Their governments are generally weak, and giant Nigeria is grappling with internal unrest over the distribution of oil wealth - something analysts fear could be exploited by Islamist militants targeting US and other Western interests globally.
"The least threatening is (an) attack on the open ocean to tanker traffic across the Atlantic or some other use of the transatlantic tanker (through hijacking) to attack oil terminals," said Peter Pham, director of the Nelson Institute for International and Public Affairs of Harrisonburg, Virginia.
"This would require a great investment that we do not see any terrorist group making yet. But this does not mean that some minimal effort should not be made to beef up security and to plan for eventualities," Pham told Reuters.
"Given the weak maritime capacities of the states of the west littoral of Africa, there is not inconsiderable risk to oil installations at sea," he added.
But Pham said the greatest threat was closer to the coast like in Nigeria's delta region where local militants mount cheap but devastating hit-and-run attacks on oil installations.
He adds that while the immediate threat derives from local grievances, "it would not take much for transnational terrorists to exploit these".
Analysts and diplomats describe the mix of great wealth and extreme poverty and alienation that characterises oil-producing states as a time bomb.
"(It) is the kind of noxious cocktail that motivated the September 11 hijackers," said Nicholas Shaxson, an Africa expert at the Royal Institute of International Affairs in London. "There is no coherent threat of this kind in the region right now, but that's not to say that there won't be one day."
Stephen Morrison, director of the Africa program at Washington's Center for Strategic and International Studies, identified weak government and poverty as the main threats.
"They manifest themselves in terms of piracy, criminality, bunkering syndicates involved in oil theft schemes," he said, referring to organised crude oil theft by criminal syndicates.
Nigeria has responded to growing unrest in its oil-producing Niger delta since 2003 by deploying about 3000 soldiers to guard key facilities.
This roughly doubled the number of troops in the delta, an inaccessible maze of mangrove-lined creeks and swamps almost the size of England.
As the situation has deteriorated over the past three years, Nigeria has sought help from London and Washington through an ad hoc Gulf of Guinea Security Conference.
Nigeria's "shopping list" of military hardware to strengthen the existing security structure has however been rejected by Washington and London, diplomats involved in the talks said.
The Nigerian armed forces still have a poor reputation after decades of military dictatorship, which ended in 1999.
The US, aware of the strategic importance of the region, and as part of its own declared war on terror since the September 11 attacks, has been weighing other options.
Defense officials in Washington said last month the Pentagon was considering creating a separate US military command for Africa. A Pentagon official said this would not mean putting US troops in Africa but "would streamline the focus and give appropriate undivided attention to the continent."
The small Gulf of Guinea archipelago of Sao Tome & Principe - where US and other companies are searching for oil amid high expectations of a new African bonanza - has said it wants more assistance from the US to protect its security as a future oil producer.
The US has helped with feasibility studies for a deepwater port and a new airport and many analysts expect Washington to locate a major military base there in the future.
Intelligence experts say the US military views Sao Tome as a future Diego Garcia for western Africa. Diego Garcia is a key US military base in the Indian Ocean which played a critical role in the invasions of Afghanistan and Iraq.
However, no formal negotiations have been reported so far.
US officials stress that fostering democracy and economic well-being in Gulf of Guinea states has to come before increased American military presence to secure oil supplies.
"You can provide security but without democracy this won't be a stable region," said Cindy Courville, who has been nominated as the first U.S. envoy to the African Union.
--------------------------------------------------------------------------------
14 September 2006 18:15 GMT | last updated: 14 September 2006 18:22 GMT
RELATED - Fraud Allegations Fuel Fight Between Top Nigerian Officials
Reuters
Friday, September 8, 2006; Page A14
ABUJA, Nigeria, Sept. 7 -- President Olusegun Obasanjo sent the Senate a report by a state anti-corruption agency accusing his deputy of diverting millions of dollars in public funds to private business concerns, officials said Thursday.
Vice President Atiku Abubakar rejected the report as a "cocktail of lies" and threatened to present lawmakers with 127 impeachable offenses against Obasanjo, including milking the state oil company of funds for political activities.
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The open warfare between the two politicians raised the chances of chaos in the run-up to elections, scheduled for April, in a country already facing an armed insurrection in the oil-producing Niger Delta, religious strife, political assassinations and widespread violent crime.
"It could trigger a political meltdown, government gridlock, a delay in the ruling party's primaries," said Sebastian Spio-Garbrah, an analyst with Eurasia Group, a consulting firm.
The two men have waged a low-intensity power struggle for years. It escalated into a public feud during a failed campaign to rewrite the constitution to allow Obasanjo to run for a third term. Abubakar opposed the effort and the Senate rejected the amendment in May.
The elections next year should mark the first democratic handover of power in Africa's most populous country since independence from Britain in 1960.
The anti-corruption agency's report details what it said was the authorization by Abubakar of millions of dollars in payments from the Petroleum Technology Development Fund to private business concerns.
Abubakar's spokesman, Garba Shehu, said Abubakar plans to ask the Senate to investigate what he called 127 impeachable offenses by Obasanjo, including the use of "phony accounts" for the president's political activities funded by the state oil company.
The vice president, like the president and state governors, is constitutionally immune from prosecution. But he could be disqualified from running for the presidency if he is indicted for corruption.
Abubakar divides much of his time between Nigeria and Potomac, Md. An ongoing FBI investigation is looking into whether Rep. William J. Jefferson (D-La.) bribed Abubakar to help land a lucrative telecommunications contract in Nigeria. Abubakar has denied the allegation, and Jefferson has denied any wrongdoing.
Thanks OILPHANT 4 posting - fingers crossed
Stockguru.com: Price and Volume Alerts for Tuesday, September 5, 2006 - Featuring ERHC Energy,
Dallas, Texas, Sep 05, 2006 (M2 PRESSWIRE via COMTEX) -- StockGuru Pre-Market Updates for Tuesday include ERHC Energy Inc. (OTCBB: ERHE), Reg Technologies, Inc. (OTCBB: REGRF), Force Protection, Inc.'s (OTCBB: FRPT) , Gran Tierra Energy Inc. (OTCBB: GTRE), GraphOn Corporation (OTCBB: GOJO), Basic Earth Science Systems, Inc. (Basic) (OTCBB: BSIC) StockGuru Pre-Market Updates feature companies with significant moves in either volume or price in the past two trading sessions. In our update we analyze recent news about the companies featured and detail the movement in the stock.
If you would like to feature your publicly traded company in our alerts or on StockGuru.com, email feature@stockguru.com or call (469)252-3031.
ERHC Energy Inc. (OTCBB: ERHE) - Friday's shares closed down 1.19% with a price of $0.415. The volume was at 122,075. ERHC Energy Inc. reported financial results for the third quarter ended June 30, 2006. As of June 30, 2006, ERHC reported cash assets totaling $41.3 million. During the three months ended June 30, 2006, ERHC had a net loss of $621,474, compared to a net loss of $223,628 for the three months ended June 30, 2005. Interest income increased by $527,732 due to the significant cash balance related to proceeds from the sale of participation interests in Blocks 2, 3 and 4 of the Joint Development Zone (JDZ) during the first quarter. General and administrative expenses during the third quarter increased by $1.2 million over the same period last year, due to an increase in legal costs, accounting of employee stock options in fiscal 2005, and increased travel and administrative expenses of doing business internationally.
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its shareholders, investors, and employees; sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production.
For a quote and the latest news on this company, please visit: http://www.stockguru.com/profiles/ERHE.php
UPSTREAM NEWS JDZ - Chevron targets drilling to firm up Obo-1 discovery
CHEVRON may resume drilling at the Nigeria-Sao Tome&Principe Joint Development Zone Block 1 within three months, writes Barry Morgan.
Depending on rig availability, Chevron, alongside partners ExxonMobil and the Dangote-Energy Equity Resources-Afren tie-up, will be anxious to determine the commercial extent of the Obo-1 discovery, said sources within the Abuja-based Joint Development Authority (JDA).
Drilled in March, the Obo-1 wildcat hit hydrocarbons. Samples are still being analysed but at least two wells are committed under the work programme.
Drilling is also planned this year for blocks 2, 3 and 4, operated by Sinopec, Anadarko Petroleum and Addax Petroleum respectively, but the consortia are still "shopping around for rigs".
The JDA this week confirmed all budgets and work programmes had been approved.
Production-sharing contracts for the remaining joint development zone blocks 5 and 6 have yet to be signed because partners still have to finalise the joint operating agreements.
Operatorship of Block 5 has gone to private Iranian outfit ICC-OEOC, while Block 6 has gone to Nigeria's Filthim-Huzod.
Houston independent ERHC Energy has a 15% stake in both licences.
Examination of these two remaining licences will be uppermost on the agenda of the new JDA chairman Ado Yakubu Wanka, who took office late last week, and will also head up the Finance&Administration Department.
Also appointed last week was fellow Nigerian Morrison Anthony Fiddi, a Florida-trained geologist, who will lead the JDA's Monitoring&Inspections Department.
Wanka replaces Sao Tomean Carlos Gomes under Article 10 of the JDZ Treaty, which requires the chair to be rotated annually between Nigeria and Sao Tome.
--------------------------------------------------------------------------------
24 August 2006 23:01 GMT | last updated: 24 August 2006 23:01 GMT
Nigerian takes JDA top job
By Upstream staff
The Nigeria-Sao Tome & Principe Joint Development Authority (JDA) has named Ado Yakubu Wanka as the authority's new chairman.
A statement released by the JDA last night announced Wanka's appointment, adding fellow Nigerian Morrison Anthony Fiddi will join the JDA as an executive director.
Nigerian President Olusegun Obasanjo has approved the new appointments.
The JDA board is made up of four members, two each from Nigeria and Sao Tome, while the chairmanship rotates yearly between them.
As well as heading the board, Wanka will also take charge of finance and administration, while Fiddi will take charge of the JDA's monitoring and inspection department.
Revenues from the resources in the area are shared in the ratio of 6:4, in favour of Nigeria.
Condor BL 5,6 may prove to be tricky as the Operator is from IRAN - National Oil Co.
I first was encouraged to learn the JDA said they were going forward but I can see how it may give some reason to pause
new ERHC Links Now Updated w/Sinopec + Addax
http://www.erhc.com/IndustryLinks.htm
Thanks DAN
BOB I'd Guess OILY is talking about BL 5,6
no idea bob but Better days are ahead
Tryoty Dan has been given a new mandate
BETTER PR / IR for ERHC going forward