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i show a news icon - not Business Wire perhaps DJ, or Market Watch
any one have it
there were hints past few days they were trying to wrap it up - that must be a new PSC record from Sinopec Approval to signing
fingers crossed
BL 3,4 and BL 2 to be signed? Thx! fingers crossed
Called ERHC IR - said all is on track "AS FAR As they know" expect a PR "IF SIGNED" most likely tomorrow
fingers crossed
Anadarko-operated block 3 has been finalised for tomorrow's signature, according to sources in Abuja.
Houston-based ERHC Energy enjoys a junior preferential stake in this block with Norwegian-Nigerian indie Energy Equity Resources. Equity also has a small stake in block 1 with fellow Nigerian indie Afren.
Also tipped to go tomorrow is JDZ block 4, which has been assigned to Addax and ERHC.
Thx Meridian - 10/10 was the last word and the JDA & STP Oil Minister departing for Abuja confirmed what you posted
HOWEVER that BM was a DUMB Title - GEEZ
Still bothered if CONOIL is an issue or not - guess NOT
also hopng for some nice suprises !!!
MERIDIAN DID YOU MISS THIS - what is the latest
UPSTEAM
JDZ awards delayed
By Barry Morgan
Suitors hoping for decisions this week as promised on final awards for deepwater blocks in the Gulf of Guinea's joint development zone (JDZ) managed by Nigeria and Sao Tome and Principe may have to wait a little longer.
Nigerian minister of state for petroleum resources had indicated that he hoped production sharing contracts for blocks two through six might be signed on 14 March, but so far only one looks set to go.
Anadarko-operated block 3 has been finalised for tomorrow's signature, according to sources in Abuja.
Houston-based ERHC Energy enjoys a junior preferential stake in this block with Norwegian-Nigerian indie Energy Equity Resources. Equity also has a small stake in block 1 with fellow Nigerian indie Afren.
Also tipped to go tomorrow is JDZ block 4, which has been assigned to Addax and ERHC. Negotiations over block 4 stalled once more following continuing discord over Nigerian indie Conoil's persistent unwillingness to ink a deal that fails to address its equity demands in the block.
It is unlikely that Conoil's refusal to sign would forge a re-bid since the JDZ second licencing round is about to expire.
--------------------------------------------------------------------------------
13 March 2006 20:47 GMT | last updated: 13 March 2006 20:47 GMT
TQS did you see the 300k BUY AT .89 EM
Meridian any word on Conoil ?? IF they dont sign or have the money the other 20% goes to the other members
and ERHC ADDAX would get 10% back
was this the plan all along ? SEO gives up 9% and gets back 10
The two blocks are operated by ERHC, a Nigerian-controlled, US- listed company, and Addax of Switzerland.
ERHC won preferential interests in all five JDZ blocks awarded last year.
ERHC gets priority over ADDAX - !! Opps they forgot Anadarko
STP NEWS Sao Tome: Contracts for 2 blocs to be inked at Tuesday oil meet in Abuja
Sao Tome, March 13 (Lusa) - A ministerial delegation from Sao Tome and Principe departed Monday for Nigeria to sign production sharing contracts for two offshore oil blocks in the joint Gulf of Guinea exploration area operated with Abuja, the archipelago's oil minister said.
Speaking before flying to Abuja, Natural Resources Minister Deolindo da Costa said that among business on the agenda at Tuesday's meeting of the Joint Ministerial Council (JMC) in Abuja was the signing of production sharing contracts (PSCs) for Blocks 4 and 3 in the two countries` Joint Development Zone (JDZ).
If the Abuja meeting is fruitful, Blocks 3 and 4, with signature bonuses of USD 40 million and USD 90 million respectively, will become the first of five JDZ blocs awarded last May to be formally wrapped up.
The two blocks are operated by ERHC, a Nigerian-controlled, US- listed company, and Addax of Switzerland.
ERHC won preferential interests in all five JDZ blocks awarded last year.
An earlier attempt to sign PSCs for Block 4 last month was thwarted when Sao Tome's delegation left Abuja without signing the documents.
Nigeria's oil minister charged Sao Tome with bad faith and called for a public apology for the scuppering of the deal.
The archipelago denied responsibility for the flop, blaming Abuja for trying to force it to ink contracts that had been altered to give a small Nigerian firm 9% of ERHC's stake in the block.
RCN/CJB.
Lusa
MERIDIAN Thanks on the Heads UP on the Pre Signing today
MARK thanks for Verifying with the JDA
round of Applause to you both !!!!!!!!!
Thanks UMBRA - the Champagne is on ICE and the Tuxedo is ready
Now where did I put those dancing shoes ?
UMBRA no "DUELING" HERE - just colourful dialogue
Its the American way - we like to joust !
Your contributions are most welcome
Ruby
MERIDIAN in PEN or PENCIL ????????? thx
BB the fact that Meridian did not know PN or may not have heard of Mr. Callander or Mr. Bass may be irrelevant
I wouldn't read too much into that !!
Odd not to know but not enough to send alarm bells
so far he has been correct with the 14th date and the Sinopec JDA approval, the 9% issue and some smaller other tidbits
jury is still out if STP did sign off
if ERHC is to get 22% of BL 2
if ERHC and CVX did meet as I believe from BM who we know DID NOT MAKE THAT UP as he reported on it twice
Odd that he still says it never did HMMMMMM
Q: what will your pal Mr. Gomes say infront of a worldwide O&G audience on Tues. morning and international press when he talks of the future of the JDZ ?????
He may be booed off the stage if his only claim to fame in BL 1
have a feeling he may let the cat out of the bag on 2,3,4 hey its only 1 1/2 years later
BONUS if he throws us a few more hints as to HOW MANY BILLION BBLS are in the JDZ from CVX
Spec it's BRANDHUBER with a B
Umbra your input is appreciated however can you elaborate a bit on your involvement or association with the company or management
again thanks for your insights
BB excellent point on risk,
Meridian I hope your laptop is WIRELESS
Thx Meridian - Memon was weak - Brandhuber seems like he has tough skin and a strong negotiator.
I like how we was quoted as saying the STP Probe was a Hack Job
I like this guy and since his arrival our Stock Price as almost tripled !!!!!!!!!!
We Still dont how he will be compensated !!!!!!
Shares / Salary / Options ...
Meridian any new tibits on our minnow
will we be swimming in the bigger pond soon ?
any insight if we could expect other buying groups to come into ERHC some institutions / hedge funds perhaps
also would you expect a decent PR campaign to enlighten investors of the details of the PSCs / JOAs following contracts or will be continue to get all our news from YOU
ha ha
AS A GENERAL DISCLAIMER - everyone here should ONLY RELY ON INFO PUBLISHED by the COMPANY DIRECTLY OR THE JDA
The message boards & blogs may be often deceiving with posters with unclear intentions
* a very WISE John Coleman said this several times, and that guy never said JACK SQUAT !!
However the on-going problem with ERHC is 90% of the NEWS directly related to the company comes from other sources
a continuous dilemma to face shareholders
Walldog it is ODD Memon got the BOOT
just as PXD got the BOOT
and what kind of CEO doesn't put out a PR for 6 months !!!
how long did he take to re vamp the web site
1 1/2 years GEEZ
**MERIDIAN** PLEASE FORWARD to appropriate sources
and KINDLY REPORT Back any Feedback, Guidance or Direction
not so much on the history [which is most certainly true] but for the Future .. Will EO be the HERO we all hope he can be?
Certainly the picture has been brighter since the introduction of Mr. Brandhuber, Addax and Sinopec
Doc's message is self-explanatory:
I do not have any big news today (just one of my connections
indicating that Anadarko could well be acquired by XOM, but not immediately, so the impact on the JDZ situation would probably be negligible) but I must say it is surprising to see that the share price is down for most companies involved in the supposed March 14 PSC signing, some noticeably. It is not a very positive sign, nor is the careful language in the STP statement which clearly gives them an out.
Let us hope that all remaining PSCs will indeed be signed on March 14.
I thought I would offer a little more analysis on two *crucial* aspects of the situation which I alluded to in my previous commentary, share price and company legitimacy. Again I have excellent connections but this is only my own opinion, one should do one's research and come to one's own conclusions. Incidentally, I am still on the road but some of the posts that equated me to you were forwarded to me - you and I could not possibly be more different people, and those posts gave me a very
good laugh indeed. You are probably used to this, but I must say I was quite surprised by the lack of civility in some of these posts. I was less surprised to learn that some of the most mean-spirited and hostile comments came from the biggest board manipulators and share flippers.
Very telling indeed.
Depending on what experts one consults, as it stands now ERHC's stock trades at about 25% of what it should if it had been manipulation-free, and the share price should be at a level between 7 and 12 times the current 80 cents or so after signing of PSCs and proper payment of all fees in remaining blocks.
Why such a strangely low share price?
This goes way back. Allow me to share a translation from a local dialect of what one a member of the Offor clan was heard saying a good while back: "Those American investors are as dumb as cows, and they are even easier to milk (laughter) - a nine year old boy could drive the whole herd." I will admit that neither I or my source took this seriously *until* we looked into trading records, much later. We did have the advantage of a longer span to look at, and indeed this behavior has been clear as the light of day for experienced level 3 traders (anyone with a high-level broker can verify this, but a keen eye coupled with common sense should yield the very same observations). I am also told that a few smart investors have occasionally posted about it on the non-censored message boards, almost always to deaf ears.
It is believed here that the "Offor clan" controls over 70% of the stock. His own *official* shares stay put offshore (out of reach of U.S. officials) but the rest is closely watched by some of his most trusted men. They are said to have been working schemes with certain Market Makers and small hedge funds to collapse or walk down the share price at will, and subsequently allow modest runs, which they then kill once they have made a few millions (note that they have easily controlled runs of
*any* size in this stock; the hours are good, too). There has *never* been any real intention on Chief Offor's part to be listed on a major exchange; this rumor was cleverly started by him a long time ago and spread around by some of the original ERHC dealmakers who thought that it would give the share price a major spike so that they would make the kind of profits they had been promised. Little did they know. They were played and no wonder some are still furious!
Could this type of behavior change? And what about validation/legitimacy for ERHC?
Loosely translated, I would like to share with you something that was passed down to me by one of our elders: "It is when a man faces the most difficult decisions that he will let others know what is truly in his soul." Well, it will be *very* easy indeed to see if Chief Offor still remembers his roots and does turn into a *true* businessman after all.
I completely understand why some nervous shareholders would see PSC signings as a big "finally, validation!" hooray for ERHC, but sadly, that is not how things work. Validation and more importantly, legitimacy for ERHC will come not from a signature but from what the company does *AFTER* the paperwork is taken care of, all fees have been paid (one should not assume that all will, or that the process will follow its
course smoothly). ERHC does have *enormous* potential as an O&G company and it *has* arrived at a major turning point. But as I wrote earlier, I unfortunately do not see much improvement on the ERHE share price or the company's disastrous image after PSCs *UNLESS*:
* Chief Offor gives the clan a direct order to once and for all stop choking the stock and profiteering from it. Only then will the market be able take its natural course.
* The many miilions of dollars received from Addax (and possibly Sinopec or others) as a part of the deal stay in the ERHC coffers and aren't swindled in some way, or eaten up in short order thru those famous "consultants' fees" or other schemes that so far have mostly benefited insiders.
* ERHC staff, contractors, and even CEOs are no longer treated like throwaway material. This is widely known and reflects very poorly on ERHC.
* Likewise, investors are treated with respect and regualrly updated. This has also been widely known and reflects even more poorly on ERHC.
* ERHC promptly develops a multi-year business plan - this should have been done long ago - and presents it to its shareholders.
* The ERHE stock is quickly moved to a larger U.S. exchange (Nasdaq comes to mind). This stock has no business being on the OTC *unless* one primarily wants to continue fleecing the shareholder.
* Generally speaking, immediate and decisive actions be taken to *PROVE* that the Nigerian-owned American company ERHC is not a scam enriching one man and his clan, but a true business. I know there are many cynics, but there is genuine hope in some influential circles at Aso Rock, the NNPC, the Petroleum Ministry, etc., that Nigeria *can* have its own efficient, competitive O&G industry. There is also a whole new local workforce - such as the one trained by Addax thanks to the wisdom and
vision of Mr. Jean Claude Gandur - that goes to work to *really* work and get things done, just as you do in America. Nigeria would suffer a devastating blow if ERHC, clearly the biggest potential success story in the history of that fledgling industry, turned out to be just the opposite. And indeed *THIS IS THE CENTRAL QUESTION*: Will Chief Offor bleed ERHC to death as he has done with so many other companies - except Chrome, which lives through very lucrative government contracts - or will he not?
I can assure you that there are very large investors - some very well-known - who would do this stock much good if the word gets out that they own it. Post-PSCs they will be waiting to see much heavier volume and a strong price spike for a few days followed by a regular increase towards the levels I stated above - notwithstanding the usual small fluctuations due to swing traders and other normal market factors of
course. Only then will they get in, *BUT* they will be watching like hawks for *any* sign of past ERHC insiders' behavior. I would urge the same kind of caution on the part of small retail investors.
The good news is that it will be very easy for the whole world to see which decision Chief Offor has made. Stakeholders, government officials, investors, and all others will only need to look at the ERHC share price after PSCs, and they will know.
Will Chief Offor prove to be a Great Man or will he prove to be precisely what the Nigerians expatriates make him to be?
On a personal note, I hope it is the former. Emeka Chuka Offor *could* be remembered as our own Richard Branson, and that would make many of us proud.
In the Spirit of Respect and Friendship,
Doc
Nice Close at $.84 - PPS is a leading indicator of things to come
NEXT WEEK IMO ERHC Graduates from a MINNOW to a FISH
IT WILL BE A LANDMARK EVENT for our small company to SIGN Multiple PSCs with Nigeria / Sao TOME and the consortiums
Congrats all longs
This has not been an easy or FUN stock to own since 1999
WAY MORE DOWNs along the path than UPs
We all took the big risk with No Awards / NO PCSs and NO PROVEN OIL
BUT SOMETIMES LONG SHOTS DO COME IN !!!!!!!!
NEXT WEEK WE GET 2/3 and soon after 3/3 from Chevron and surely later this year from Addax / Anadarko and Perhaps Sinopec
All parts have been bigger than anyone expected and IMO the BEST PART the biggest PART [OIL] will be bigger than EVERYONE EXPECTED x 10
Have a great weekend
MERIDIAN great NEWS !!!
so the SIGNING IS Basically a SHOW for the PRESS
wont be any more GLITCHES !!!!!!!!!!!!
Merdiain ERHC has NEVER promoted their own stock which is almost un heard of in the OTC - BB world
is this because ...
a] they DONT KNOW HOW
b] cant $ Afford to
c] dont need to
d] its a personal Africian philosophy of SEO - to be low key and humble
e] they DONT want to announce to the world they got the BEST DEAL IN OIL HISTORY and dont want to gloat
BB I called ER yest. and mentioned the Approval of SNP
they could not confirm/deny the approval and did not THINK a PR would come on that particular issue
BUT
did hint a more detailed PR to come
UPSTREAM UPDATE PSCs still set for the 14th
Wait on Obo wildcat
By Upstream staff
Chevron this week reached target depth on its Obo-1 wildcat in the Joint Development Zone (JDZ) managed by Nigeria and Sao Tome&Principe, writes Barry Morgan.
Logging by Transocean drillship Deepwater Discovery started on Tuesday amid ongoing speculation of a discovery, which many view as a litmus test of oil potential in the Gulf of Guinea deep water.
However, no announcement on the well's findings is expected until April.
Partners anticipate an agreed statement will emerge after a technical committee meeting scheduled later this month. Chevron operates Block-1 and is partnered by ExxonMobil and an alliance of Dangote-Energy Equity Resources-Afren.
The Abuja-based Joint Development Authority reiterated its intent to formally ratify the remaining JDZ blocks 2, 3, 4, 5 and 6 on 14 March.
--------------------------------------------------------------------------------
10 March 2006 00:01 GMT | last updated: 10 March 2006 00:01 GMT
The money of the oil is going to finance OGE/2006
from http://www.cstome.net/diario/index.htm
To Assembleia National approved in his last session plenária the decree-law that authorizes the government it transfer 15,6 millions of dollars of the bill of the Oil for the chests of the state. It may have been to last session plenária of the present legislature. A session, whose period before of the order of the works, stayed marked by relative arguments to the nomination of the ex General Commander of the Police, Arming Strap for Advisor of the minister of the Defense and internal Order.
The government across of the minister of the Justice and Matters you Will Parley Elsa I Paint, says do not have official knowledge of the nomination and justified the unfamiliarity with “the misappropiation of powers in the organs of sovereignty”. By the way the MLSTP/PSD left always be visible that the presidency of the republic swallows often neither questions of the governmental forum.
And because the question is politizada to point of the nomination to be being utilized in the pré campaign, the opposition namely the workbench parliamentarian of the MDFM/PL – PCD, said to the plenária that Strap “is not neither will be never militant of the coalition and that occupy not any charge political case she defeat the elections of the 26 near".
The session that was not conclusive for lack of quorum approved in the however the decree-law that authorizes the government it transfer the total of 15,6 millions of American dollars of the bill of the oil for finance part the OGE for the present year económico
By it approve stayed the report of the first commission specialized of the Assembleia about the electoral trial. A report that confirms the existence of 9801 inscriptions in the electoral notebook without any bears documentary. More a scandal that it join to the of the duplications of inscription, of voters less than age, foreign citizens voters cards bearers and of the audit to the data processing equipment of the CEN shadow the electoral trial, to point of the representative Rafael White of the workbench parliamentarian of the MLSTP/PSD suspect that the definite results of the scrutiny be determined administratively.
The session was presided by the second vice president of the parliament, Carlos Snow because the president of the Assembleia I replaced temporarily the leader of state that is found in Portugal should return in the Saturday.
Meridian - Dr. Daukoru & Carlos Gomes are both featured speakers at this event in Abuja 9-11 am MARCH 14 -
http://owa06.events.pennnet.com/
http://downloads.pennnet.com/events/owa06/owa06_final_prog_addendum.pdf
can we clarify the signing schedule for the PSCs or perhaps they will be signed at this event?
Nigeria To Showcase Offshore Opportunities, Potentials
see event details http://owa06.events.pennnet.com/
By Bassey Udo,
Energy Editor
Nigeria’s oil and gas industry is mobilising towards the effective participation in the 10th Offshore West Africa (OWA) Conference and Exhibition billed for next week.
The event, which is billed for Abuja between March 14 and 16, has the theme: “Leading the World in Deepwater Exploration and Production.”
Nigeria, which has the rare privilege of hosting the international event for the fifth time, would be attending with the theme: “Nigeria Deepwater – Discoveries, Opportunities and Challenges.”
Chairman, Planning Committee on the conference and General Manager, Group Public Affairs Department, Nigerian National Petroleum Corporation (NNPC), Dr Levi Ajuonuma, told a pre-conference media briefing over the weekend that Nigeria’s Oil and Gas Industry participation is hinged on the fact that it would help expose more Nigerian professionals to the latest technology in deep offshore exploration and production operations at cheaper cost.
Other benefits include opportunities to acquire new information that could be adapted for the development of the Nigerian petroleum industry as well as facilitating the formation of partnerships and alliances between Nigerian entrepreneurs and prospective investors.
Ajuonuma said Nigeria hopes to utilize the platform of the technical conference to showcase the increasing level of E&P activities in her offshore and deepwater basins; unfold the immense investment potentials the region holds for discerning investors; present significant milestones achieved by Nigerian companies in the delivery of major offshore and deepwater projects, as well as develop possible areas of partnerships between the Nigerian companies and foreign manufacturers and investors.
With efforts geared towards realizing the national objectives of increasing crude oil reserves to 40 billion barrels and production to 4 million barrels per day (bpd), he said the recent 2005 Licensing Round opened new investment opportunities that need to be brought to the knowledge of investors.
These include the participation of Nigerian companies as local content vehicles as well as the high prospects for Nigerians to partner foreign companies to set up service companies in the areas of seismic, drilling, engineering, tooling and logistics.
The gas sector, he pointed out, presents another area of huge business opportunity, particularly in the areas of engineering, procurement, project management and gas infrastructure development.
“On the whole, we will demonstrate why Nigeria deserves the investment dollar of every participant and trade visitor at the conference and exhibition,” he said, adding: “It is our patriotic duty, not only to demonstrate the giant strides the Nigerian oil and gas industry has made in our offshore and deep offshore activities, but to showcase the abundant opportunities existing therein, and encourage investors to come and partake in exploiting these resources for the benefit of all Nigerians and stakeholders.”
Though the list of participants is still being collated, Ajuonuma the final figure might double that of last year, which recorded more than 1077 trade visitors and delegates from 23 countries.
He said becoming a permanent host of the international and technical conference is Nigeria’s goal, as part of the overall national objective to emerging the hub of petroleum activities in the sub-Saharan Africa.
Minister of State for Petroleum, and President, Organisation of Petroleum Exporting Countries (OPEC), Dr Edmund Daukoru, would present the keynote address, while the Group Managing Director, NNPC, Dr Funso Kupolokun would speak on “Offshore Prospects and Perspectives for Nigeria”
Better News Here! Nigeria withdraws demand for apology.
BY Sunny Ofili
DATE : Thursday, 02 March 2006
The Nigerian government has withdrawn a demand that the government of Sao Tome and Principe “tender an unreserved apology” for a last-minute refusal to sign the Production Sharing Contract, PSC, between the Joint Development Authority (JDA) and Addax on Bloc 4 in the Joint Development Zone (JDZ) belonging to the two countries.
Nigeria’s Minister of state for Petroleum Resources and current OPEC president, Edmund Daukuro, made the government’s position known yesterday in Washington, DC at a forum organized by The Leon H. Sullivan Foundation to discuss Africa and International energy security.
While fielding questions from The Times Of Nigeria, Daukuro said that he might have been misquoted by last week’s reports in the media where he was quoted to have demanded an apology from Sao Tome for the failure to sign the document. “I don’t think I used the word apology. It was a misunderstanding.” He said.
“The matter has been resolved. I have been assured that it was a communications problem and both sides have agreed to a new date to sign the contract.”
“The contract will be signed on March 14, 2006 and both parties have agreed to this and I do not see any reason we cannot proceed with the contract as it is.” Said Daukuro.
Daukuro, who is on his first official visit to Washington after assuming the presidency of the petroleum cartel, OPEC, blamed the on-going crisis in Niger Delta on restless youths whom he said are impatient.
“Niger Delta problem is nothing new. The problem is caused by youths who are impatient. Guns will not do it. We want to encourage dialogue.” He said.
Daukuro called on the international community to assist oil-producing communities in securing the vast oil resources in order to guarantee supply. “The resource is huge but so also is the challenge.”
He predicted, “Gas will rival or overtake oil very soon” and that Nigeria is well positioned to take a lead in the gas market.
Daukoru urged oil-producing countries to be transparent in their operations by opening up the process to independent audit.
http://www.thetimesofnigeria.com/index.php?option=com_content&task=view&id=538&Itemid=0
so far Homeport ERHC/ADDAX/BM/JDA and Now Lusa have all chimed in on the mid March date
lets see what happens
HOMEPORT MUCH BETTER NEWS here ...
In the wake of the aborted Feb. 24 ceremony in Abuja, the Joint Development Authority, the body overseeing the JDZ, indicated it would reschedule the signing for mid-March.
Four other blocks awarded last May also await the signing of their respective PSCs.
Industry interest in the JDZ has grown along with rumors that US Chevron has made a still unannounced massive find in Block 1, the only block to be awarded in the first joint licensing round held in 2004.
too much on the table for anyone to walk
cooler heads always prevail OBJ & DR D will get FRED's crew on board -
W.AFRICA IS TOO IMPORTANT TO ALL to F*CK UP !!!!!!
BL 1 APPROVED / AWARDED / PSC Signed / Drilling
BL 2-6 Awarded / Approved
ADDAX APPROVED
SINOPEC to BE APPROVED
Contracts will go forward !!!!! [2,3,4] 5,6?
N EEZ and STP EEZ will have their own rounds
3rd JDZ round
Meridian please forward the signed JOA to the STP delegation for review prior to the 14th
hey it's only worth Billions @!!!!@
kind regards Ruby
ERHCLong great story - thx for sharing, I remember the old RB crowd and theLASTDOG - he sure was annoying - 100 bashers showed up after him
in those days 5-10 ERHC posts / a day were a big deal
and a Barry Morgan story every 3-4 months was worth celebrating
now several hundred posts / day are the standard
now BM every week
daily trade rags report on ERHC
soon to be front page headlines on major newspapers again
sometimes when you bet a longshot a longshot will come in
if you bet a longshot big and your longshot comes in
dreams do come true
Texascpa you are correct - my math = my bad
so assume Ave. 20% in BL 2,3,4 FREE CARRY
[20% x ? Barrels]
[we still have big rights in 5,6 & 9 + 4 EEZ blocks 2x100%] + GAS - thanks Stockhocker
and correct again about spending it till its in the bank
the oil estimates everyone is throwing around are still minor league
we have entered the major leagues
that's why the majors are now sniffing around -
sniff sniff