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Bay,
I'll post a link tomorrow since I'm on my way out to the airport to go see my family for the long weekend.
Cheers
Brez
Fishdog,
If it is easier for you, just post it to your own website (such as .Mac, or yahoo etc) and provide us the link.
Cheers
Brez
Tryoty,
If one is to assume 2B per block (2,3,4), at an estimation of $8/barrel profit. My spreadsheet gives $11.20 PPS. Which is pretty close to just doing the math of ERHE share, ball park of 1Bbl / 710M OS (even though it is closer to 714 now I believe) x $8/bl = $11.28.
If any one wants it, I have posted a spreadsheet before (simplistic) which you put in the amount of oil found per block and it calculates automatically the PPS for many different situations.
Brez
Thanks
Brez
Dadd, how did you get your movie in?
Brez
Thank you for taking the time to answer. That is indeed great news, since the 2-3 year time of construction of a new rig would give us continuous coverage after the Belford Daulfin's contract is over with Anadarko in 2010.
If all goes well, we have oil next year and expansion for years to come.
Brez
Oilphant,
thank you for your answer. I don't want to take advantage of your generosity, but if you could answer the following that would be very helpfull, to me.
Can we expect for the drilling in Early 07 to have;
1) One oil rig, the pathfinder;
2) Two oil rigs, the pathfinder and other (Belford Daulphin?); or
3) More than two?
Once again thank you for your time.
Brez
Oilphant,
will the announcement be closer to our theories that drilling will commence;
1) last quarter of 06
2) First half of 07
3) second half of 07
4) Still up in the air.
thanks in advance.
Brez
Thanks Oilphant,
If we ever meet, you're drinkin' for free.
Brez
To the board,
I do not understand the significance of the different colour schemes in the TDI Brooks piston core and Heatflow map presented above.
Could someone explain the significance of the different colour dots to me? Especially the red Piston core ones since they are more prominent.
Thank you
Brez
Thanks
Brez
By the way, unless you are claire voyante! I live in Cold Lake, Alberta, Canada
Thanks
Brez
Great map, can I be added on it?
Thanks
Brez
Tapco,
You added the % of each block to give ERHE 49%. Keep in mind that the blocks are different sizes (10% of a big block could be more than 40% of a small block), therefore ERHE's share is less than that. I have worked the math once before, if you want me to do it, its easy I can do it again.
Cheers
Brez
Correction,
Please insert Belford Daulphin in my previous posts. It was a memory mistake on my part.
Sorry for the confusion and I cannot go back and edit myself.
Brez
Robbed,
There is no date on your report, the official ERHE website shows the actual amount in each block,
"
ERHC now has the following carried working interests:
Block 2: 22%
Block 3: 10%
Block 4: 17.7%
Further, ERHC has the potential for an additional three blocks in the JDZ and two blocks in the exclusive territorial waters of Sao Tome (the Exclusive Economic Zone – EEZ)."
http://www.erhc.com/Updates.htm
Brez
Thanks Bro,
Brez
Fishdog,
Sorry, was that your opinion or otherwise?
Thanks
Brez
PS I'm throwing ice cubes down my back to cool off!
Sorry, I should have been more specific. You are absolutely correct!! And I certainly hope that this will be the case. Let me dream a little here and I see this...
Pathfinder is underway in the next of couple of months...
Deepwather Daulfin from Annadarko and ONGC begin in Feb 07...
Addax led consortium add to the fray from mid 07 to ....
In my dreams I can account for 2 oil rigs, Pathfinder and Daulfin, does anyone know of a third that could be remotly connected to any stake holders in blocks1-4?
Brez
PS. Today is a good day
1) yes I believe they are the same 6, by sentence syntax
2)Contracting occurs years before a drilling begins.
Anadarko signed contract in Sept 05 for Daulfin for early 07.
What I find interesting is Addax, the operator of Blck 4, is leading the bunch. In my mind, the leader of a consortium would be the largest stake holder. As well if, 6 holes are being drilled, you would drill the max to define an extend of the reservoir, 3 in Blck 4.
I read this comment is " since blck 4 is estimated to be more favourable, Addax was chosen to lead a consortium for all 4 blocks "
Erch has 17.7% of blck 4 with a free carry.....
WE ROCK!!!!!!!
Brez
Does anyone else see Addax last traded at 9:30 am today. Or is it just me?
Brez
ok, Thank you for the great work.
Brez
Dude, you are still painfull...ignored
Brez
Dude . . . you're painfull to follow**
Brez
Dadd,
Thank you for your hard work, in sometimes a thankless job. Thank you for caring enought to give your time, to us.
Brez
Thanks Rocky, I did not read that update. Therefore it would make sense that they would maximise their returns in their blocks in the Indian Ocean.
The only way my speculation about an early move of the rig to blck 2 was if ONGC were at an end point of their drilling program where down time would not allow further drilling before the "hand over" prep with Anardako.
If this down time can now be translated in travel time to the JDZ, where it would most likely go anyway, since it is a shorter distance than the GOM. Then they may have time for a hole in blck 2 which would very much be in their interest. As well by the time the rig would arrive in the GOM early 07, wouldn't that be the start of Huricane season?
Cheers
Brez
(grasping at straws!!!!)
Rocky, BB,
If ONGC were to bring their rig to Blck2, must they relenquish control of it or are they not, drilling for themselves (as well as others) since they have % interest in the block.
I realize that Sinopec is the operator, but ONGC is a stake holder with a rig.
Therefore, as far as the parent company of the rig is conscern, the transfer to anardako is a contractual aggreement which still stands. The location in which the current contract holder , ONGC, wishes to employ the rig is of no conscern to the parent company and may change, as long as the negotiated minimum fees balanced between operation dayly rates and travel dayly rates are respected. This was probably the better avenue, of my point of discussion.
Cheers
Brez
AA, do you hear of any cooperation between Sinopec and ONGC for sharing technical assets (oil rigs?).
Thank you in advance
Brez
Thanks, that's perfect!
Brez
True,
Thanks Alwright
Brez
Alwright,
In all fairness, must we only post items of consequence? If so, who gets to define, consequence?
Items of "no-consequence" did occur on prior dates. How much do we want? Do we want such items posted that will immediately double the SP since it is so accurate, this will make the manipulation of this stock unbearable. Or do we want posters to post on regular basis with information that we can digest, critic, research and validate. Thus, hopefully giving us, more time to accumulate or sale our position in a stock.
Personnaly, I vote for lots of information that will allow this boards Subject Matter Experts (SME) to analyze and provide me with their insights on possibilities and probabilities so that I can formulate my own Course of Action.
IMHO
Brez
Well, this makes this course of action, logistically possible. The question is, is this feasible in the offshore oil business? This is a question that the folks who have experience in this area can answer.
Brez
Thanks Platina,
I guess 5-12 knots is the travel spreed.
Brez
That to me seem big enough for an early departure from the Indian Ocean! Maybe....
Thanks Spec
Brez
Integrate,
I have read all those articles, what I find interesting is the my previous articles (read the whole thing with the link) demonstrating ONGC's lack of ability in scoring in deep water for the last 2.5 years. Therefore since, I believe, the daulphin was there only deep water operation, they may want to explore their next best shot.
Kuxe0 stated that ONGC was part of blck 2, for the life of me, I can't find all my links with the % distribution. If ONGC has %'s in blck 2, and they know the rig goes to Anadarko next, they would be crazy not to deploy early to try to "score" a big one on the elephant hunt! At the very least, they could, have financial rewards for a very expensive unsuccessful drilling campaign!
IMHO
Brez
Cricket.....cricket**
Yeah but DJN did not get the "8/22" post, did they!!!LOL
Brez
In all fairness Kuxe0 and Electrik talked about ONGC (India) and GOG. Thanks for stirring my curriosity.
BB. I would settle with an announcement of rig available on 8/22!
Brez
Absolutely, if (IF) this was possible, 46 days would take us to mid October (or 15/10!). Anadarko takes possession in Feb 07ish. This would leave 4 months of exploration in Blck 2 (close to two holes). Anadarko would be crazy to move the righ all the way to the Gulf of Mexico. They would spud their block!!
What does ONGC get out of this......Electrik's posted it....they are showing interest. Maybe the JDA would look at it as a personal favour if they release a rig early for JDZ exploration.
All this before blk 5/6 go for bid......mmmmm......
I'm liking what I am writting!!
Brez
I figure ball park figure 11000 nautical miles. How fast does that bad boy go? 5, 10 knts? (91 days @ 5 and 46 @ 10).
I fly planes for a living, who knows about thing that floats?
Brez