I've got a rich cousin that I have NEVER liked. I may recommend this stock to him out of jealousy and hate. But he won't suffer like I have. On second thought I will NOT recommend it because when it takes off I will just be even more jealous of him and his success. He could buy more than you and I put together - he doesn't need it like I do! (-:

Back again Rig? Sorry you didn't get your chance to buy at 2¢ - the stock has almost doubled since your last little charade.

Quote:

"Jusr returned and I am not going to be responsible for the S.P. to drop to .02. I will let someone else do it. As for me, I am closing down this site and won't return. Good bye.
Rigmyster"

I am thrice burned recommending to people. The one who bought at 70¢ in 2009 and sold at 45¢ shortly thereafter just asked me how it was going. Said she was thinking of getting back in - I didn't know what to say. Guess I should be glad she's speaking to me. LOL

Seriously, this stock has taught me to cool my remarks to friends, relatives, and neighbors. I just get so optimistic and so enthusiastic about our prospects. But I will keep my mouth shut and do my Maserati shopping in the privacy of my home.

Kenya = Gran Turismo LOL again

Thanks for the clarification TOB. I always thought P&A was synonymous with non-commercial. So see, sitting here reading a message board is not a total waste of my time. I can tell my wife I am learning stuff.

I wish you were right but your are misunderstanding some things. Not to worry, when Kenya gets going this will all be forgotten. I'm still optimistic long term.

Thanks - I had missed the May 15 news from Mromro. So both wells were P&A'd. I was getting excited because they had said nothing about OBO - unfortunately I just had not read the news.

In the petroleum industry, "P&A" is not good. When I google "Plugged and abandoned" I get "Non-commercial". But that doesn't mean the whole block is toast. Tullow P&A'd a well last year. Here are their comments:

Montserrado-1 plugged and abandoned
Posted: 9 November 2011

Tullow Oil reported that the Montserrado-1 exploration well, offshore Liberia, has made a non-commercial oil discovery in Late Cretaceous reservoir sands.

This result is an important exploration breakthrough, establishing a working hydrocarbon system in the Liberian basin.

"Whilst this wildcat well made a sub-commercial discovery at this location, we have gained critical insights which we will now integrate with our extensive 3D seismic data for follow-up drilling in our highly prospective Liberian acreage," said Angus McCoss, Exploration Director......The well was drilled in block LB-15 to a total depth of 5,400 metres and encountered good-quality, [u]water-bearing sands in the main objective. In a deeper secondary objective, approximately 8 metres of hydrocarbon pay was intersected and a sample of light oil was recovered.

The well is being plugged and abandoned and the drillship is being mobilised to Sierra Leone ...............

Potential results from Block 1 drilling are exciting in a perverse sort of way: According to Mromro's source, OBO 2 was finished before May 7 and to my knowledge continues to be "tight-holed", meaning no information has been divulged. Total immediately divulged that Enitimi 1 was P&A'd despite oil and gas shows. In oil patch parlance, plugged and abandoned generally indicates a dud. But not a word on OBO 2, which is finished. I continue to think that OBO 2 is a winner based simply on their silence. Has anyone heard or seen any info on Obo 2?

And I certainly doubt that the West Polaris is treading water, so it would also be nice to know what it is up to now.

From Mromro: "In early July 2012, Total plugged and abandoned the Enitimi 1 deviated wildcat in Block 1, southeastern Niger Delta Basin with oil and gas shows. The well reached a TD of 3,394m in 1,652m of water. The well was spudded on 20 March 2012 with the “West Polaris” drillship 4.5km east-northeast of Obo 1. Enitimi 1 was suspended at a measured depth of 2,056m in the top hole section. The rig moved then to spud the Obo 2 well in the same block, the two wells being drilled in batch. Once Obo 2 was finished, the rig came back on 7 May 2012 to complete the drilling of Enitimi 1. "

U R exactly right. When you look at ERHC's business footprint, it is far different than even a couple of years ago. We are no longer dependant upon the JDZ for success. Despite all of the criticism from the moderator (who I have on ignore), having a toehold in Kenya and Chad certainly gives us more opportunities.

So Obo 2 was already been P&A'd back in May. Is Block 1 now toast?

Are we to conclude that Enitimi-1 is a whiff? I ask that based on the terminology plugged and "ABANDONED". No word on Obo-2 however.

Are our EEZ Blocks classified as deep water?

Even if Blocks 1, 2, and 3 results equalled the NSAI estimates, we would not be talking about adding a lot of value to our stock price. I am telling you Pete, the juice is in Block 4 according to NSAI, Addax, and ERHC estimates. No one should get worked up over Block 2, and I haven't perceived that in your comments. It would not have meant much even in a perfect world. I'm a little surprised that Block 4 hasn't been a hot topic. Now if everyone walks on Block 4 I will lose my 401(k). That will be a different story.

Block 4 is the reason we are invested. Of course we would like to see great success in all blocks, but from a prospectivity standpoint our best odds for a home run have always been in Block 4. Don't forget that a NON-OBLIGATORY 3rd well was drilled in Kina. Check these old estimates out to see the value of Block 4 vs. Block 2:

Addax Estimates
2 - Bomu Unrisked 350,000,000 Recoverable 50,100,000
3 - Lemba Unrisked 273,000,000 Recoverable 41,000,000
4 - Kina Unrisked 1,188,000,000 Recoverable 428,700,000

In my mind (small), everything is riding on Kina, and I like our chances. They didn't drill that 3rd well just for grins - it cost $50 million imho.

Sleep well.

Not a big surprise - guess everyone forgot about this excerpt from EEL's 2010 Annual Report:

...While the discovery in the Bomu 1 well of gas rather than oil was disappointing, the reservoir sands and traps were, by and large, encountered as expected. The JDA extended the Phase 1 Exploration Period by two six month periods to allow Sinopec to complete the technical and commercial evaluation of the discovery and the other prospects on Block 2. Four other wells were drilled in the JDZ, three in Block 4 and one in Block 3, simultaneously with Bomu 1. The JDA granted extensions on these blocks as well, allowing the common operator, Sinopec, to integrate the studies on a regional basis to the benefit of the JDA and participants.

The studies have confirmed that Bomu is a small gas discovery, which under current conditions is sub-commercial. While an adequate source of oil is believed to exist, the absence of faulting between the source and reservoir sands prevents the oil from migrating into the reservoirs. The studies also conclude that the best remaining prospect is more likely to contain gas than oil, in quantities not very much larger than those discovered in Bomu.

This current evaluation of the block does not justify commitment to a second exploration well, as required for entry into Phase II of the PSC. ......

Thank you for giving me my first really good chuckle for the day. Given that it is 6 pm CST, it obviously hasn't been that great of a day. But that was a good one!

Time is almost up (-:

Would it be correct to surmise that Enitimi 1 is barely in Block 1 and reasonably close to Akpo? Could it be tied in to Akpo infrastructure?

Enitimi Structure was originally scheduled to be drilled in 2001 per this article from E&P subscription service.

July, 2001: The second appraisal well on the 1.5 billion-bbl deepwater Akpo field off Nigeria has encouraged the South Atlantic Petroleum partnership with TotalFinaElf to begin plans for early production. Plans are being drawn up to drill two more Akpo wells in July and August to further appraise the field in OPL 246. Drilling of the Enitimi structure on the same block, which is expected to be even bigger and possibly the largest field in West Africa, have been deferred until the end of this year.

Is Bovell gone?

Shoot me if it is bad news, and I am serious!!! (-:

Check back at about 7:15 am EST Friday, 5-11-2012. We should have a preliminary report on Block 1. Hope it's good, but prepared if it isn't.

I assumed that the website was down because there were no posts after 5:53 pm EST yesterday. That's all. But I continue to hope that there will be GOOD news on OBO overnight from the Total annual shareholders meeting in Paris on Fiday. My fortune cookies said, "Good luck is coming". (-:

I think we are back "ON"

Don't anyone tell Middie

Robert E. "Bob" Smith had his proxies in hand, so I'm certain that he was a shareholder. He introduced himself to me, sat right in front of me, and I paid close attention to him because he is named after one of the wealthiest and most influential Texans ever. He said he was from Richmond, Texas. I can also vouch that he was an idiot and he couldn't possibly be related to the famous Mr. Smith. Peter and Dan failed miserably in controlling him because he basically destroyed the meeting by using so much of the alloted room time with a share count. It was one of the more bizarre things I have ever witnessed. He should have been escorted out by the security guy that was hired. Makes me wonder why that guy in brown with a gun in his holster was there. Probably for the free snacks. I say that as I sit at my desk drinking from my ERHC coffee mug - my wife calls it my $90,000 coffee mug.

Total has scheduled their ASM next Friday, May 11th (3 am CST). It is possible that OBO may get a preliminary comment at that time. Probably wishful thinking on my part.

If Total wants to buy out Blocks 2-4, do you REALLY believe SNP would sell? I think an expression of interest would just get them moving again, drilling on their own behalf. They are a government owned operation, so money is not an issue.

Biogenic gas can be commercial if the quantities are substantial. And substantial amounts were rumored to be found in at least one of our five wells. It also can be used to re-inject as an enhancement to oil production. Is it what we wanted - no. Is it the end of our story - no again.

Stocks, I suspect that you are correct that the biogenic gas story is a smoke screen. My fondest hope is that Total will blow Sinopec's cover with the release of Block 1 results. Again, allow me to remind everyone (except AMJ and Middie) that Total is spending $200M on these two wells. Doesn't that speak loudly about our potential?

Exactly - And they found something(s) that led them to drill an extra well that was not obligatory. That in itself is very telling.

Just to clarify: It is my understanding that biogenic gas IS an indicator of a working hydrocarbon system. Period. So the experts agree that we are on, over, around or in a working hydrocarbon system. Biogenic gas is a hydrocarbon, it is just dry gas vs. the more valuable wet gas. A fact - not hype, not rosy outlooking, not bs. We are on to something - it is just going to take more patience that we could have ever imagined.

A couple of years ago we were all ready to jump off a bridge because only biogenic gas was discovered, and it does not have a direct link to oil or NGL's. But I have come to realize that it doesn't preclude it either. Biogenic vs Thermogenic typically occurs at different depths from each other. So we are still in the hunt in my opinion. As a matter of fact, I have been contemplating buying more shares this morning.

(Bacterial Gas vs. Thermogenic Gas)

Determining the Origin of Hydrocarbon Gas Shows and Gas Seeps Using Gas Geochemistry Knowing whether a natural gas show is biogenic gas or thermogenic gas can have critical implications for the presence of liquid hydrocarbons in a basin. As described below, geochemical analyses can reveal the origin of a gas show or seep, and can reveal the presence of an effective petroleum system in a basin.

Types of natural gas

Two distinct processes produce hydrocarbon gas: biogenic and thermogenic degradation of organic matter. Biogenic gas is formed at shallow depths and low temperatures by anaerobic bacterial decomposition of sedimentary organic matter. In contrast, thermogenic gas is formed at deeper depths by:

(1) thermal cracking of sedimentary organic matter into hydrocarbon liquids and gas (this gas is co-genetic with oil, and is called "primary" thermogenic gas ), and

(2) thermal cracking of oil at high temperatures into gas ("secondary" thermogenic gas) and pyrobitumen.

Biogenic gas is very dry (i.e., it consists almost entirely of methane). In contrast, thermogenic gas can be dry, or can contain significant concentrations of "wet gas" components (ethane, propane, butanes) and condensate (C5+ hydrocarbons).

Why does the type of gas matter?

As described above, biogenic gas is unrelated to the processes that form oil. As a result, if a gas seep or show is bacterial in origin, then the presence of the gas says nothing about the likelihood of an effective petroleum system existing in the basin. Hydrocarbon liquid could be present in the area, but, if it is, then its presence is fortuitous: it is unrelated to the bacterial gas show. Similarly, if a gas seep bubbling from a lake bottom is found to be bacterial gas, then the presence of the seep says nothing about the presence of an underlying petroleum system.

In contrast, if a gas show is found to be thermogenic in origin, then the possibility exists that the gas derives from a gas cap overlying a down-dip oil leg. That possibility can be further evaluated from specific aspects of the composition of the thermogenic gas (see, Predicting Down-dip Oil, and Basin Modeling).

Copyright © 2011, Weatherford Laboratories All rights reserved.

Keeping it real. Leslie Blair is an accountant, not an earth scientist. Not that there is anything wrong with that, but ....

Don't have PM - reference msg 256929 eom

Thank you for taking the time to go to the AGM and also thank you for your comments. I live in Houston, but had a schedule conflict that was unchangeable (thanks to my boss). So I couldn't go until almost 5.

I still believe that the JDZ alone could bail out my painful investment in ERHE. The jury is still out. A geologist that I know once told me that Africa geology is tricky. So just because the first foray did not bear immediate fruit does not mean that it will eventually be a blockbuster.

It is hard to know why rig and others' expectations were so different from managment's - I mean realistically, what did they expect to walk away with after the meeting besides a new coffee cup and pens? We are in a gut-wrenching waiting period while exploration continues in Block 1 and way-down-the-road negotiations continue in Chad and the EEZ, etc. I hate waiting as much or more than anyone on this board - but it is an unavoidable fact of life. What IS avoidable is the constant negativity from a handful of people - I simply cannot fathom why they have not sold out long ago. For the first time I may take a hiatus from the board just to get away from the unwarranted negativity.

Again TOB, think you for your effort. It IS appreciated.

You said something stupid on your way out the door. That is the most ridiculous posting I have read to date. You have put Middie to shame. Good bye - go back to Louisiana where you belong.

I personally guarantee that the price won't fall as far as it did the day after the last SHM - down 15¢ on April 28, 2010

Which is better: Up-dip or down-dip? Or does it matter?

It worked on my cat just fine.


Laissez Faire

Here ya go

• oops - my chinese did not translate

14¢ Sounds good today.
(-:

We are accumulating additional shares at a bargain price. I think that sounds much better than averaging down (-: