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CASH AND OIL, THATS ALL WE NEED.
The seismic data saw the exploration team identify 13 drillable prospects and leads in the Tarach basin, and place the mean prospective resources of all prospects and leads at a total of 645 million barrels.
30% (government getS 10%) of 645 mill 193 mill barrels at $20 = 3.8 bill/ shares 3 b =
$ 1.30/share
I made assumptions and used only $20 a barrel net.
Are they saying 645 million barrels total in block 11a? 13 prospects?
SO YES, THERE IS STILL HOPE.... REGARDLESS OF FINANCING OPTIONS AVAILABLE.
I had one thng right...lol
Southern Man Tuesday, 12/02/14 11:33:03 PM
Re: None
Post # of 308519
Anam and Tarach are our hope.
Here is a 3 year old study.
http://www.epgeology.com/articles/kenya-rift-basin.html
The black BLOB is on this link or study and its my guess the BLACK BLOB is 90% inside our Block 11a.
Lotikipi Basin
From the seismic profiles along Lines TVK-4, TVK-5, TVK-6 and TVK-7 (Figs.4,11and12), in the Lotikipi basin, it was possible to identify two sub-basins, between longitudes 34o30’E and 35o00’E and latitudes 4o15’N and 4o45’N, which have been named after the nearest river systems as a) the Anam-Natira Formation and b) the Tarach-Nakalale Formation [7].
The anticipated best-developed subsurface sedimentary section, identified on the basis of seismic and gravity studies, under the channels of the Anam and Natira rivers (Figs.2,4and11), has been named as the Anam-Natira Formation. The 1050 m thick sequence (between long 34o30’E and 35o00 N), showing P-wave velocity (Vp) between 3.0 and 4.0 km/s on TVK-4 line profile, is interpreted to consist chiefly of sandstones and shales [7]. The lower 350 m section, between 1900 m to 2250 m depth, should contain compact sandstones with frequent thick clay/shale layers, for which the Vp range is between 3.5 to 4.0 km/s.
The best-developed (Tertiary ?) section (1420 m thick) located beneath the Tarach and Nakalale river systems, characterized by Vp between 2.0 and 3.0 km/s, has been named as the Tarach-Nakalale Formation [7]. Deduced along TVK-6 the area covered under Longs. 34o45’E and 35o03’E and Lats. 4o24’ N and 4o42’ N shows a better development of this formation, which seems to be constituted of less consolidated sands, gravels, silts and clays which increasingly become more compact towards the basal part of the section (1560-2060m depth). The sub-basin on the TVK-6 line bounded by lats. 4o24’N and 4o42’ N and longs. 34o45’E and 35o03’E can be considered as representing the ‘type’ section of the Tarach-Nakalale Formation. The ‘type’ Tarach-Nakalale Formation sequence shows well-developed representation of both the members, which range to about 800 m thick each.
Future drilling and fossil finds will provide additional stratigraphic attributes to these seismically defined Formations in the Lotikipi basin. However, at this juncture, the section cannot be assigned a definite stratigraphic age, but occurring in similar tectonic and stratigraphic setup, it is suspected that the Anam-Natira Formation might be homotaxial to the Sharaf and Abu Gabra Formations (Neocomian or Albian-Aptian in age, [10] of southern Sudan. Although future drilling alone would enable assigning additional lithological attributes to these two subdivisions, in the absence of any other criteria to assign a stratigraphic age, it might help to consider Tarach-Nakalale Formation as coeval to the Kordofan Group of southern Sudan (early Tertiary in age, [10].
Additionally, one might also point out that the sub-basins in which the thicker Anam-Natira Formation sequences (Upper Cretaceous?) are suspected are different than the sub-basins in which a greater thickness of Tarach-Nakalale Formation (Lower Tertiary?) is anticipated [7]. Since there has been no exploratory wells drilled in the Lotikipi basin, most of the prognostic evaluation of the basin (Fig. 12) would depend upon the evaluation done on rocks of equivalent age belonging to the other basins (along the NW-SE-trending Anza and Abu Gabra Rifts – Fig.3).
Recent discoveries of oil and gas across the East Africa region have positioned the region as a lucrative investment destination in Africa for foreign investors who have been scouting for opportunities. Some five upstream oil and gas companies are ramping up activity in Kenya, as the country becomes a focal exploration point in a dash for the commodities.
Research has shown that discoveries in the last few years are more than that of any other region in the world, and the boom is expected to continue for the next five years.
This impressive position is, however, becoming less significant as global oil prices continue to fall. Experts said further decline threatens the region’s economic prospects.
“We anticipate DCF’s involvement will be valuable as we pursue strategic options through access to their global network of corporate finance professionals around the world,” Ntephe said.
Beyond its assets in Chad and Kenya, ERHC also is seeking new strategic investment into the company itself.
“The current valuation of ERHC presents an exceptional opportunity for equity investors to gain access to ERHC’s rich portfolio of licenses,” Ntephe said.
Mercom Oil ( MMO ) ERHC Energy Joint Venture in Chad/Cameroon
Jul 24, 2015
U.S-based oil and gas exploration firm, ERHC Energy, it has retained the services of Deloitte Corporate Finance (DCF) to advise on the company’s oil assets in Kenya and Chad for possible joint ventures amid drop in global oil prices. One deal on the table apparently is a $5m joint venture with Mercom Oil a London listed investment company with assets in Chad. The deal rumoured to … (continue reading)
http://oilandgas.einnews.com/article_detail/277563157?lcode=uylwx0nvopiIAIFP7Yyiow%3D%3D
http://www.mercomoil.com/investingpolicy.html small fish
http://www.oilnewskenya.com/?p=3190
Kenya and Uganda could start producing oil three and a half years after project sanction expected by the end of 2016 according to the latest half year results by the company.
According to the report the company expects to have drilled 200 to 300 wells in phases in Kenya almost of those to be drilled in neighboring Uganda where the company targets 500 wells.
Currently the development initially targets the South Lokichar Basin where there has been nine out of eleven wildcat discoveries with the decision on other basins namely Kerio, North Turkana, North Lokichar, Turkana South, Turkwell, Suguta South and North basins as well as the Nyanza basin in block 12B expected pending exploration success.
The company has already seen disappointment at Kodos-1 and Engomo-1 in the Kerio and North Turkana basins while in Uganda the company targets a basin wide development.
The Ugandan government has responded to claims that the last licensing round was unsuccessful by virtue of having attracted mainly small and medium exploration companies.
According to Acting Principal Petroleum Officer at the Ministry of Energy and Minerals Development Peninah Aheebwa the licensing round saw the right blend of oil companies as applicants who included two large companies (market capitalization of over $25billion), five medium companies (market capitalization of between $5 and $25 billion) and ten small companies (market cap is less than $5billion).
Uganda says despite the large number of small and medium companies the explorers are known to be good at undertaking exploration especially during the early stage when exploration risk is high as they are also more adaptive, collaborative, nimble, focused and innovative.
“The majors and large companies on the other hand have all the necessary capital and expertise and often buy off small companies that have made discoveries before or during development and production work,” she says.
The Obama administration is poised to levy new sanctions aimed at pressuring South Sudan's rival leaders if they don't accept a peace deal by a mid-August deadline.
Never has, so whats new.
Green light is if the operator can find lots of OIL always has been the goal.
Are the Kenyan & Chad drilling rigs on their way? Is deepwater pathfinder enroute to EEZ ? lol Thats all that matters. Yes to Canadian Exch., anything to get out of this pink pile of remnants.
Dreamers. Call me when it gets to. 40 cents.
How can they last till drilling with no money? They have financial obligations they can't meet?, Correct?
Possible that CEPSA just buys the whole company, coversion would put us at about a nickel. Then hope for oil in Kenya,Chad, EEZ. wag Seems the best way out of this mess is a complete buy out.
can the sp get any lower ?.0000005
lol
a little late for that comment, uh were at 0000005.
2000 TO 1 Reverse split announcement, announced with news of 2 farm-ins but still short of cash to drill Kenya, more toxic, more Offor, stock goes from 1 down to 0. My wag prediction.
This company is gone, lost, toast, the fat lady sang a long time ago. When will it finally go no bid, Ive never seen a stock go .000 anything, its ridiculous. They love to stick the knife in and twist it around, obviously. Question is... will the BOD stand by its long standing "value for shareholders" statement if and when assets are liquidated,merged,purged,pumped&dumped to Chrome or its cronies for next to nothing.
Crazy, hair pulling company! The more I think about this whole nightmare, it wouldnt be possible to write a book and if you some how did, no one would read it. (except Krom :))
UNLESS they can miraculously stay in the game and find a billion barrels. God help us!
ONLY IF THEY CAN GET A FREE CARRY OR 7 MILLION FROM OTHER ASSETS. NOT LIKELY.NOT IMPOSSIBLE.
yep, very wishful. At least there seems to be lots of oil in Kenya, http://www.oilnewskenya.com/?p=2871
By Wednesday or Thursday we will learn of a 7.5 million dollar 90% farm out of EEZ. Problem solved till March 2016. Cepsa will save us.
Or, we will merge with someone.
ERHC was in a similar position prior to JDZ before Sinopec and Offor rescued us, why not again? The glut ends in 8-10 months.
Oh, and jmho.
http://www.epgeology.com/page-images/kenya-rift/fig12-map-of-petroleum-prospectivity.jpg
Finding oil is all that matters.
No investors have garantees.
The purpose of this CEO is to get Chad and Kenya drilled and sell EEZ rights at any cost necessary.
Im positive if you called them to invest 250,000 they would buy lunch and take your money, anyone can invest not just Emeka Offor imo.
Offor would not have invested 250k fresh into a oil play that didnt have amazing seismic data. Us grunts dont have seismic information.
Trade shows are where you sell or meet the buyers and investors/partners if your lucky so its good PN is going to the trade show. Hope he takes the bus though. TO ALL: If you havent been to a oil related trade show you should go.
If ERHC somehow survives this, I want the book writing contract! it will be nothing short of a miracle, sadly. Merger is the only option I see.
Thank you, Good job, doesnt leave much to bargain with does it.?
Circle Oil Limited has to be so content.. Lol add government 20% there isn't a lot left for sharing with shareholders as it is. Seems to me 20% is all we have in 11a today!
( 10)
!(www.circleoilandgas.com) ("Circle") acted as finder in ERHC's acquisition of the Block by facilitating ERHC's entry into Kenya, including the introduction of Dr. Peter Thuo, ERHC's Kenya-based geoscientist and technical adviser who provided liaison services in the pursuit of ERHC's application. Circle's involvement provided significant efficiencies, including substantial cost savings, in ERHC's application process. By virtue of the terms of the business finder's agreement reached between Circle and ERHC, Circle is entitled to receive a 5% payment on the value of the acquisition accruing resulting to ERHC from the application. Circle has opted to receive this fee in the form of a carried 5% of ERHC's total interest in Block 11A.
There was a question mark attached, that makes it a question not a statement.
0.0004 -0.0003(-42.86%)
12 cents a year ago, remarkable job Peter.
In December 2014, CEPSA and ERHC announced plans to progress directly to drilling an exploration well during the next 12 to 16 months.
The only hope is they drill and hit big. Unlikely as these drilling programs take years and this is an exploration well. Very unlikely they will survive this toxic issue. No one wants their assets?
Dk, never said anything we didnt already know. Ever.
I think it's safe to erhc is gone as we knew it. Another perfect storm and with on shore drilling in site at that. Oh well. I didn't need the 660 thousand dollars anyway. To the unremarkable lawyer - Peter thanks for never finding any oil and wasting alot of our money bragging about your accomplishments.
We should have had real geologist.
It's over guys. The fat lady has sung. Imo.
CEPSA likes Swala afterall > > > http://www.oilnewskenya.com/?p=2775
http://globenewswire.com/news-release/2015/02/17/707166/10120594/en/ERHC-Energy-Inc-Issues-February-2015-Shareholder-Update.html
Production Kenya - threshhold met!
http://www.kogwg.org/index.php/kogwg-news/kenya-hits-mark-for-commercial-oil-production
Well we have hit triple 000 levels and it still trades? Heres the good news, we have waited 16 years to see this type of volume! I say cut all expenses go private, release seismics to shareholders and drill with interested investors new money. One last wildcat party.
Exceo, buddy they have told us everything they can imo. IF anything has changed with with the company and its funding needs MOU partners etc.. they will release the news. There simply isnt anything new to say at this point. There hasnt been anything new in the last release really either.They can not control the share price. They have NO control over the markets.
They have seen the seismic reports and recall there are over 12 drill site propects some very large in 11A alone. MOA in EEZ is revealed when?
ERHC will go private, vote YES.
Possible sources of funding include private or public financings (including possible rights offering, registered direct offerings or private placements of the Company's capital stock), strategic relationships or other arrangements. While ERHC has obtained funding for operations from private equity placements in the past, there is no assurance that the Company will be able to do so again in the near future at commercially reasonable terms or at all despite any progress in its business prospects. At the Company's current stage of development, public or private debt funding may not be available on acceptable terms or at all. If ERHC enters into strategic relationships to raise additional funds, it might be required to relinquish certain rights to its assets and/or future revenue streams from any prospective resource plays.
Failure to raise capital or secure financing when needed could leave ERHC with insufficient resources in the future to sustain its exploration and development activities. Without additional capital resources, the Company may be forced to limit, defer or cease acquisitions or capital expenditures, sell assets, cede acreage or acquired interest, reduce operating expenses, or delay or reduce planned exploration and development programs, which in turn may adversely affect the Company's financial condition and business prospects. Raising any additional funds through equity or debt financing, convertible debt financing, joint ventures with corporate partners or other sources may be dilutive to the Company's existing shareholders and may affect the price of its common stock. Ultimately, there can be no assurance that ERHC will be successfu