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WHAT DOES THIS MEAN - ????
Though details of the discussions were not disclosed, PANA learnt that the disagreement between the two countries over the award of oil blocks in their Joint Development Zones (JDZ) was expected to feature prominently.
BREAKING NEWS President Bush will call for new technology to break U.S. addiction to oil, according to excerpts of his State of the Union speech released by the White House
then in his address to the nation will call all investors attention to ERHC as the new technology will take 10-20 years to transform and wont be sufficient to handle the growing demand from China and India.
**** PUP **** **THANK YOU** lol
YO ERHC DUDES !!!!!!!! Puff ... Puff
I got a great idea Puff ... Puff
Lets Freeze the JDZ Puff ... Puff
this way no one will get revenue for 10 years Puff ... Puff
Screw Chevron in BL 1 for $123 MM and drilling costs Puff ... Puff
While we are at it ... Lets Freeze all the GoG drilling Puff ... Puff
HEY Dudes ... Lets Freeze all world wide drilling and exploration - KEWL
Puff ... Puff Puff ... Puff Puff ... Puff Puff ... Puff
Mongo - these clowns sound like your buds - lets write a few more Letters to the Editor
Game on
good nite
Crappie - perhaps a sell off of a couple blocks or Buy In,
who knows, but its fun to speculate
as long as the PPS keeps going north !!!!
I'll take $3-5 short term - thank you very much
from an industry source .. “I think Walter Brandhuber is their acquisitions man, -- good for mergers etc.. So we'll see if there's a buyout after sigs [PSCs] are announced" ...
I'll be keeping my fingers crossed
Question from the field - go ahead Doug
Who'd ever thought we'd see .35 again after ...
...low Volume - lowest in months
...No News - I news PR in 3 months -
...rumor of delay till April, now next week LOL
...rumor of JDZ/JDA collapse... dont think so JS LOL
...New CEO announced at this late critical period -
sounds like a heavy hitter - Memon was too soft
...New Auditor with revised Risk assesment - perhaps the old one was chaging too much - still cant figure this one out
...Prope of potential US authorities vs. ERHC - nothing came of it doubt it ever will
...STP AG Report - all BS and STP Politial Crap
...Negative PR - too much
...STP President saying the biggest crime was the 2001 ERHC contracts - but he said they CANT Cancel sorry Fred!!
...Noble out - Addax in with better deal and Cash
NOW
... CVX is drilling ... why would they commit to such expenses if the JDZ was going to collapse - they were given assurances all would be ok PSCs would soon go forward
...JDA Says all 5 PSCs to be signed in Feb
Buy low sell high
Blog now confirms JMC Meeting soon and Offer/ERHC appear to be clear of any investigations ..
New ERHE Buyer MERI seems to be accumulating large 50k blocks
hmmm wonder WHY ?????????
Mark GREAT DD !! you always go the extra mile for us !!!
Spec why did ERHC choose 30% of BL 2 and only 25% of BL 4
if BL 4 is the jewel - you'd think it would be reversed
Sources say $$ BIG $$ $$ Money $$ will enter into ERHE post PSCs -
this buying will attract more buying and so on and so on ..
we were informed this week JMC meets the first week of Feb. and PSCs should be inked by end Feb.
This date makes sense as BL 1 results should be available Mid March and contracts must be done pre drill results.
Once the JDA PRs the timeframe of PSCs and ensures the public with confidence ...
we will start our over due climb back to the $Buck area and hoping for some more upside surprises to get us over the hump
hoping the smear campaign is over and Mr Brandhuber has a few buddies at the WSJ who can give us some nice exposure
buy low
sell high - Sell some or Sell None or NEVER SELL
Strass the clues and chatter point to an ADDAX Victory
why would they be so bold as to include the details in their IPO filing?
[Aside **why would CVX start the BL 1 drilling if they knew everything could unravel - because they were assured all would be fine] Just like BL 1 Award = BL 1 PSC
Now BL 2-6 Award = BL 2-6 PSC - it all gets done !!
We already saw the JDA PR blessing them in BL 4 only to be removed cause the JMC [STP delegation] did not sign off
ok we gave them some time to see if a Smear Campaign AG Probe could bounce ERHC off BL 4
NOPE
sorry folks - your plan backfired - yes the negative PR hurt
but look at XOM and CVX in Equitorial Guniea with all the investigations and ugly allegations etc
sticks and stones ........ business as usual
BB great summary - the bigger question if we look at the millions of shares sold post awards - was not so much the fact that sellers appeared to take profits, short etc. -
BUT WHO WAS BUYING ALL THOSE MILLIONS of shares ????
as BSK pointed out the historical 2-3 year ave. of $200-300 MM
WHO IS KEEPING us at these levels as opposed to $20-30 Million
I'm still intrigued by the fact that Ms. Bucks mentioned there would be a flury of PSC PR And PRESS and a SHAREHOLDER / ANALYST Conference call to EXPLAIN Everything
My mouth is watering ........
Is there another stock in the world that could possilby say the same with $0 revenues and all the Political BS
This soap opera is better than most and I suspect even with the poor PPS performace over the past 2-3 years most here are tuning in to see what happens next
Kinda like how Howard Stern got famous - he was so outrageous that most tuned in to see What He Would Say Next
What will Happen to ERHE next?
Stay tuned
buy low sell high
thanks Mark - nice to hear Addax is in and the incoming OPEC cheif wants this done ASAP "Daukoru insists they will all ALL be signed"
this is what we need more of .. " found that the deals were NOT seriously flawed"
I'm not putting too much faith in the STP minister - seems like everyone is not taking STP too seriously these days
I'll wait to hear from the JDA after the meeting
time to BUY the SELLOFF is OVER for ERHE
BTW I've watched this stock since 1999 and my low buy was $0.06 - it's been far too long a ride but the fundamentals have only gotten better over the years !!!
This stock has NEVER MISSED A DAY OF TRADING - never Halted
This Stock was $.005 in 2000 before EO took over
OUR RIGHTS ARE GUARANTEED BY TREATY and Blessed by the JDA
without Prejudice
This is the MOST PROLIFIC Oil and Gas Region in the world
and perhaps the most sought after
THE STP Politics are bothersome and will be forever more
DECEMBER 12th ERHE hit $.46 on recent news of the ADDAX IPO with a highlight of 25+% BL 4 Full Carry and $18 MM to ERHC
This is a 1-2 Billion BBL Field according to 3D tests
We now know Addax is looking into other JDZ Blocks for potential Farm INs
The STP AG Probe hit the wires on Dec. 12th dropping the pps to $.26
we now sit at the 2 year average low -
The probe is over / the smear campaign is done
the damage is done and ERHC is still standing
this Stock continues to stand firm against all obstacles
including a STP Coup / EXXON muscle / STP investigations
all indications are for PSCs to go forward in the very near term
the next 60 days will be quite eventful
we are overdue for news and GOOD news at that
sources say BIG $$$ may come into play post PSCs
CVX just spudded BL 1
Buy low sell high
the Blog indicates a 1 week delay for JMC meeting
has this been confirmed anywhere else ?
very irresponsible reporting IMO - the headline reads as FACT however there is no substance to back it up
It should read this BLOGs Opinion Only until proven otherwise
REALITY CHECK - It's GONNA Happen !!!!!!
JDA Exec's / Barry M / the incoming OPEC Chief / even Menezes says the probe is BS and PSCs are going ahead.
ALL SAY they are going ahead more or less, BL 4 was the hold up, lets hope it's resolved, ADDAX's $400 MM IPO depends on it [or will sell alot better with it signed]
they haven't spent 6 months in contract talks +2 years in Licensing rounds / Road Shows / Endless Travel / marketing / Etc all for Nothing, oh yeah CVX drills any day in BL 1 on a $400K/day Rig
$400 MM is sitting on the table for 2 poor countries
IT's NOT IF ..........
ITS WHEN - that's why we are $0.30 vs. $0.03 - btw I believe we could hit $.50 very quickly - we were just at $.46 on the ADDAX news a few weeks back
the VOL is LOW no panic - just indecision and uncertainty
J. Shea will be wrong with 4,5 PSC/JOAs signed $1-$2 may be more realstic with a pull back to $.70-$1 But WTFDIK, NITE may be selling the mother load LOL
DOMS buy of 1 MM shares last week was no amateur
Buy LOW sell HIGH
Sao Tome turmoil hits block deals
By Upstream staff
Official indications surfacing in Abuja last month that second round licensing awards for the Nigeria-Sao Tome Joint Development Zone (JDZ) may finally be signed by mid-January are looking shaky as political difficulties in Sao Tome intensify, writes Barry Morgan.
Sao Tome had indicated it would react "very soon" to criticisms of the transparency of the JDZ second round contained in a report by Attorney General Adelino Pereira but no statement has been forthcoming. Attempts to unravel allocations at this stage would almost certainly spur protracted legal action and likely freeze E&P plans in the Gulf of Guinea play for several years.
The island's head of state Fradique de Menezes was this week urged to call early elections and fire his Foreign Minister Ovideo Pequeno following corruption allegations. Lawmakers also blocked Menezes' plans to hold a referendum on power sharing while Guilherme Posser da Costa, president of the majority MLSTP-PSD party in the National Assembly ratcheted up the pressure on his administration.
Sao Tome is due to elect a new parliament in March and choose a new president in September, but key opposition figures hope early polls would render Menezes a lame-duck president and pave the way for renegotiating the oil deals.
The primary focus has been on JDZ Block-4 in which Addax Petroleum recently replaced Noble Energy as US minnow ERHC Energy's consortium partner to become the designated operator.
Speaking midweek in Sao Tome, Menezes said the equity awards to ERHC had indeed damaged the interests of Sao Tome but that an official investigation was incomplete. He reasserted the official view that Sao Tome stands to lose $58 million if the second licensing JDZ round went ahead as programmed.
Oddly, Menezes is reported to have claimed that it was still not known who had signed the original preferential rights accord with ERHC in 2001, but hinted MLSTP stalwarts, former prime minister Guilherme Posser da Costa and ex-president Miguel Trovoada, were involved.
He reiterated criticism of his own Attorney General's report for not even interviewing Nigerian officials.
A joint ministerial council meeting of the Abuja-based Joint Development Authority, set up to administer the licensing exercise, is scheduled for next week and suitors hope it will set a firm signing date.
DOMS on the BID AGAIN :->
Crazi / Spec Exxon got 40% of BL 1 no one is mentioning that BUT they did have to pay Sig bonuses -
Why is Menezes playing hardball with ERHC and JDA/Nigeria
by critizing the VERY SAME DEAL HE SIGNED OFF ON and the Staff that worked with him
He must be on the SAUCE again
Sao Tome's president also criticized claims by the Attorney General's office that it had not been possible "to find documentary evidence to ascertain whether the allocation of shares and the second licensing round was marred by conflicts of interest and political favoritism".
SPEC what about the STP article 1 post before
Homeport need some translation help ERHC Mentioned
http://www.jornal.st/noticias.php?noticia=1623
After talk to the nation of Fradique of Menezes I ATTACHED pronounces-itself about polémica that involves leader of the diplomacy are-tomense 2006-01-10 17:38:26 Saint Tomé - After the statements of the President of Saint Tomé and Prince, Fradique of Menezes, the secretary-general of the Independent Democratic Action (I ATTACHED), Patrício Thunderstorm, called the press for speak of the questions approached namely him referring, the report of the Procuradoria-General one of the And the case of the innapropriate management of deep of the State on the part of the minister of the Foreign Business, Ovídeo Small. «Always we affirm that a political commitment cannot be implemented without lawful base. By that, since the end of 2004, we alert the organs of the political power for the need of be created lawful conditions for him referring», said Patrício Thunderstorm.
«Not having that happened», increased, «alone remained to the President of the Republic accept the facts. We think that fits now to the representatives of the near legislature deal with this question itself like this will understand him».
As regards the report of the PGR, considered that I constituted «the corroboration of that grave errors of procedures were made during the second auction of the zone of joint exploitation with the Nigeria».
«We are not going to be correct the form as the President of the Republic criticized the preliminary work of the Procuradoria, that is able to and should do his work in full serenity, without pressures on the part of the organs of the political power in this country», underlined the secretary-general of the I ATTACHED.
«The President of the Republic referred the agreement of 1997 with the ERHC as being a criminal act for the people of Saint Tomé and Prince, whitened by the PGR. Those accusations are grave, for beyond will be driven against the PGR, tarnish the good name of several personalities and managers of this country», emphasized equally that manager.
«It I ATTACHED to would like that the President of the Republic offered, the more quickly possible, to the proxy the names of the çcriminosos´ that signed the agreement of 1997 with the ERHC, namely for we will understand as and by that reason nominated during his mandate the engineer Carlos Gomes that signed in 1997 the agreements ERHC-MOBIL-STPetro to the position of the president of the Advice of Administration of the Joint Authority, like Mateus Meira Rita stock holder of the ERHC and member of staff of the ERHC in 1997, minister of the Oil, minister of the Foreign Business, director of the cabinet of the PR, ambassador of Saint Tomé and Prince in the Nigeria and member of the joint ministerial commission that decided about the last auction, that clear at once the responsibilities for with the agreements of 1997 until 2001, since we know that About I control straight of the President of the Republic, Fradique of Menezes», according to the note handles for Patrício Thunderstorm.
In what touches to the deep of Morocco, involving the minister Ovídio Small, the responsible one of the I ATTACHED defended that is «sufficient, enough reason for taken of measures on the part of the chief one of the Government», remembering that «the total is originating from the tranches of 2001, 2002 and 2003 in the chart of an agreement between the government of the Kingdom of Morocco and the Government of Saint Tomé.
«The President of the Republic affirmed, giving example of that a credit of 10 millions of dollars granted by the Nigeria disappeared of the Public Treasure, that due to the bad management that the Government does of the public money, the Presidency, in concertação with the MNECC, decided to proceed to the default of the law 1/86 and of the norms in force», increased.
Inácio Amorim
Photograph: Rui Neumann (c) PNN Portuguese News Network
http://www.jornal.st/noticias.php?noticia=1623
crazy small VOL of 200k 1 seller TD if he backs off its .33 ask
POKER when can we expect PSCs In your or [brokers] opinion
YES ADDAX's IPO will sell much better with a 2 Billion BBL BLOCK PSC Signed
and your Broker isn't DOMS is it? LoL
Poker I'm thrilled your broker has such connections to know the specifics of certain conversations between the JDA and EO
I find it a bit odd however the JDA and Both Governments will stall their $200 MM cause EO said not w/out BL 4 considering the JDA stipulation required BL 4 to move with in the set time frame
I would have thought he was all out of favors
but then again each set back seems to always work in our advantage
Homeport STP appears to have thier priorities BACKWARDS
$200 MM US Dollars are sitting on the table and they are out-to-lunch at least the negative PR on the JDZ has died down a bit with this latest sideshow
these clowns should join a travelling circus they would make more money
RED, Full ADDAX Prospectus here:
ADDAX Pg. 2, 60, 61, 62
http://sedar.com/csfsprod/data63/filings/00867623/00000001/C%3A%5CSedarf%5CAddax%5CProspectus-ENG.pd....
"the Corporation [ADDAX] is in preliminary discussuions with some of the successful bidders in other JDZ blocks with a view to farming-in to one or more of these blocks"
in Nov. 2005 ADDAX entered into a participation agreement with ERHC pursuant to which it may acquire up to a 33.3% interest in and become opertor of BL 4, in return for payment of up to $18 Million and a FULL CARRY to ERHC.
is this our week DOMS backed off on Friday but had a big appetite on Wed/Thurs. if we get 5 or 10 of those aggressive buyers we should easily be back over .50 headed back to .75+
I am hoping for pleasant surprises after PSCs are signed as many have hinted.
This co had been quiet too long and the one thing that still sticks with me is our PR team said they were to arrange INVESTOR CONFERENCE CALLs after the PSCs
Now Why would they do that ??????????????????
buy low sell high
ADDAX Pg. 2, 60, 61, 62
"the Corporation [ADDAX] is in preliminary discussuions with some of the successful bidders in other JDZ blocks with a view to farming-in to one or more of these blocks"
in Nov. 2005 ADDAX entered into a participation agreement with ERHC pursuant to which it may acquire up to a 33.3% interest in and become opertor of BL 4, in return for payment of up to $18 Million and a FULL CARRY to ERHC.
DOMS took a coffee break
DOMS will Chase if some one joins his bid
DOMS must be BEST Bid watch
Recall DOMS was TOP ASK for like a year going back 2-3 years
My Guess Short covering or NEWS coming !!!!!!!!!!
DOMS not finished buying 300k in 1 minute !!
and a 108k buy my my
50k buy at .34 someone is nibbling thanks Richkan we are all starting to get the warm and fuzzies
DOMS on the ERHE bid is most particular
recall DOMS was TOP ASK for over 1 year 2 years back
many thought DOMS was Shorting ERHC big
NOW on the BID - Best BID [short covering perhaps may be in order]
time will tell