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Homeport you Rock! good work keep it up
Nigeria Bid Round - Winners Announced
Chrome Energy named in 2 blocks under Refining
http://www.indigopool.com/nigeria/channel/docs/Nigeria_2005_Bid_Round_Winners.xls
Top Drive - its not when they start that matters its when the signatures hit the dotted line - then batter up
till then, we are still in the locker room going over the game plan
New Noble Energy Presentation
http://phx.corporate-ir.net/phoenix.zhtml?c=115212&p=irol-irhome
mentions Equitorial Guinea 48% of International Operations
briefly mention JDZ in W.Africa to say they are negotiating around 17 minute mark
latest PXD presentation
http://library.corporate-ir.net/library/90/909/90959/items/164238/090605.pdf
8/27/2005) Nigeria awards 30 of 78 blocks on offer
oilandgasinternational.com
Four Mid-Caps for a Trendless Market
www.thestreet.com
By Dan Fitzpatrick
About this article:
Relative strength can offer opportunity in trendless markets, and the S&P MidCap Index is strong. Nine stocks stood out among the 400 in the index. . Sandisk, Harris, Plexus and Pioneer Natural Resources appear to be the best of the bunch.
New Buy Recommendation: ERHC Penny Oil Speculator
33-cents-a-share penny oil beats out oil majors and bags the rights to drill on red-hot properties with the potential to yield $840 BILLION of oil!
ERHC is a tiny US oil company that ventured into a tiny island in the oil-rich Gulf of Guinea, offshore West Africa, years ago and bagged a jackpot: rights to drill on over 2,200 square miles of prime offshore oil exploration blocks that could yield over 14 BILLION barrels of oil -- worth $840 billion!
ERHC expects to start drilling within the next six months. And based on previous other billion barrel oilfields discovered nearby, we're positive there's a lot of oil that can be found.
Buy ERHC shares today for only 33 US cents each and I think you could make at least 506% gains in the next few years.…
Dear Subscriber,
The Gulf of Guinea, in West Africa, is one of the most prolific oil regions in the world. In fact, this area already provides 15% of US oil imports. And the US expects this to grow to 25% within the next couple of years.
Located in the Gulf of Guinea is a tiny obscure island nation called Sao Tome. A lot of the big oil companies have been eyeing the offshore blocks in this country for some time since it has the potential to hold billions of barrels of oil. In fact, located right next to this oil blocks are several billion barrel discoveries including the 1 billion barrel Akpo field, the 500 million barrel Niwwa field and the 500 million barrel Ikija oilfield.
But one little Houston based company -- ERHC Energy - has unbelievably beaten out the majors and bagged the rights to participate in drilling in all the offshore blocks in Sao Tome.
How tiny ERHC Energy beat out the majors in bagging the rights to drill on a potential 14 BILLION barrels of oil In 1997, even before huge oil deposits were discovered in the deepwaters of the region, ERHC placed their bet on Sao Tome
ERHC -- majority owned by Nigerian billionaire Sir Emekka Offor with a 35% stake -- helped the country jumpstart their oil exploration industry, which was still non-existent at that time. In return, Sao Tome gave ERHC preferential ownership rights to drill on six offshore blocks (a designated area for oil and/or gas exploration) covering over 2,200 square miles that the island-nation shared with next-door Nigeria.
As a bonus, ERHC was allowed to bid for larger stakes of the said blocks once they were auctioned-off. And best of all, ERHC would be exempt from paying signature bonuses -- an upfront fee that other companies would have to pay Sao Tome to earn the right to drill for oil-- on any four of its six offshore blocks!
Last December, Sao Tome offered offshore blocks 2, 3, 4, 5, and 6 (Exxon and Chevron already cornered block 1 the year before) for exploration and the auction attracted 23 international oil companies.
And since ERHC had the rights to drill on these properties, the company ended up owning between 15% and 65% stake on each of these 5 large oil blocks.
To be assured a piece of the highly-coveted oil properties, US oil heavyweights Pioneer Natural Resources and Noble Energy struck partnership deals with ERHC. In exchange for a share of the oil blocks, Pioneer and Noble agreed to foot all the drilling costs in their operational areas.
In June, the auction winners were announced and the ERHC/Pioneer partnership was awarded control of 65% of block 2 and 25% of block 3, while the ERHC/Noble team-up cornered 60% of block 4. ERHC also got a 15% stake in blocks 5 and 6.
With the sweetheart deal with Pioneer and Noble in place, ERHC will not spend a penny to start drilling on these properties. They can now sit back, relax, and wait for the money to come rushing in once oil starts to flow out of their properties.
And the chances of that happening are excellent! That's because the best place to hunt for oil is right beside where it's already been found.
Aside from the huge billion barrel Akpo field, and the 500 million Niwwa field discovered nearby, there are another 14 oilfields with reserves ranging from 100 million barrels to 1 billion barrels of oil discovered in and around the Gulf of Guinea in recent years.
Plus, based on available seismic surveys (sort of like an X-ray of the ground) and geological profiling done by PGS and Western Geco, two of the world's biggest and most respected oil services companies, ERHC’s offshore properties are estimated to contain 14 BILLION barrels of oil -- worth an eye-popping $840 billion at today's prices.
And yet, you could buy the company lock, stock, and barrel right now for less than $256 million. What a great bargain and that's why we want you to buy a boatload of their shares!
Buy shares of ERHC today and you could multiply your money 6-fold within the next 3 years
It's still early days for ERHC and their stock. The company and their partners are still currently working out the details of the production sharing contract with the Sao Tome JDZ government.
They're also still scouting for drill-ships that can drill up to a mile under water in their Gulf of Guinea properties. More importantly, it will cost tens of millions of dollars to drill one single well. And the first quarter of 2006 would probably be the soonest time that a well would be drilled.
These factors plus the fact that ERHC trades in the obscure Nasdaq over-the-counter-bulletin-board are the reasons why you can still buy ERHC's shares for a measly 35 US cents each.
Nevertheless, given the massive potential pay-out of their drillings coupled with the company's tiny share price, we think that now is the best time to load up on shares.
By the time they begin drilling for oil early next year, I expect more investors to start piling in to buy ERHC stock. When this happens, I expect the shares to go for $1 each -- a 200% gain from current prices.
And if they indeed discover oil in the Gulf of Guinea, it's going to be one heck of a payday for you.…
Even if ERHC discovers merely a FRACTION of that 14 billion barrel estimate - say 2 billion barrels -- the company's share of reserves could fetch $1.4 billion (or $2 a share) at a conservative buy-out price of $5 per barrel of reserves. So given ERHC's current share price of 33 US cents, that's a potential 506% gain on your investment!
That's a conservative estimate. Of course if they find more oil on their turf, then the shares could go even higher - giving you a chance to bag even higher gains.
Clearly, ERHC has got massive profit potential. So don't let this opportunity pass you by. Contact your broker now and buy shares of ERHC Energy today!
ERHC Energy trades in the US Nasdaq Over-The-Counter Bulletin Board market under the symbol ERHE. Their shares currently go for $0.33 a piece. The company's shares also trade in Berlin and Frankfurt under the symbol ERH. For more information about the company, visit their website at http://www.erhc.com/
Important note: since ERHC is still a thinly traded stock, please put in a limit order to buy shares at 38 US cents or lower.
And it's due exactly to penny stocks like ERHC that we've had to limit our subscriber base to no more than 1,000. But now, we're approaching that limit. We've sold 950 subscriptions to Penny Oil Speculator and are about to email out another letter to sell out the remaining 50 slots. After that, wanna-be penny oil subscribers will have to be put on a waiting list.
I know you have time left on your subscription and are probably not even thinking about renewing right now. But I'd hate to see you lose your slot to a wait-listed investor simply because you missed the notice or your payment got crossed in the mail.
And if you've been following our recommendations, I don't think you'd want that to happen either. Just a few weeks ago you picked up 104% and 68% profits in High Point in 4 months. And before that, we finally closed out our remaining shares in Ultra Petroleum. If you're a long-term subscriber, that bagged you up to 1,831%, 1,589%, 908% profits, depending on when you got in.
And just a month before that, you took up to 155% profits on a portion of your GeoGlobal holdings IN 4 WEEKS when they found the largest natural gas field in India!
Average profits per closed out trade (losers included): 145.4%.
That's over 7 years, 129 trades, in good markets and in bad. And the open positions add to the profits. You're up as much as 155% in TransGlobe, 98% in Transmeridian, 93% in Vaalco, and 28% in UTS Energy (in 4 weeks!).
So why not renew now while you have this reminder at hand and keep these new recos --like EHRC -- coming. That way you don't run the risk of losing your slot if you happen to be out of town when your subscription expires or miss the notice. Renew for 24 months or more and save anywhere from $1,000 to $3,000.
• 12 months: $5,000
• 24 months: $9,000 -- you save $1,000
• 36 months: $12,000 -- you save $3,000
All you have to do is pick up the phone and call Dina at 1-800-330-1435 (toll-free US and Canada) or 1-843-388-8470. We're open 'round the clock, 7 days a week.
Warm regards,
Chuck de Castro and Bob Czeschin, Editors
Penny Oil Speculator
August 18, 2005
The Penny Oil Speculator is published by the Penny Oil, Inc., 268 West Coleman Blvd. STE 2C, Mount Pleasant SC 29464-5650 USA, and in Hong Kong by Jaguar Investment Services, Ltd., and in Australia by Financial Publishing Pty. Ltd.;
Telephone: 1-843-388-8470; Fax: 1-843-388-0512.
who posted here that Soros was interested in ERHC several weeks back
does someone have the post ????
this was prior to his known interest in PXD
when would the shorters cover then
ds2 , FLCR just joined the Bid
DS2 was FLCR best Bid yest, and do you feel the Sellers/Shorters Nite/Schb will ease up
Good Post Bklynboy56 - much to ponder EM
Stockguard, N EEZ ?
ZTOCK, dont you feel Pioneer and Noble have done their research on the subjects mentioned - why would they put their compaines at risk?
and what outcome are you predicting for ERHC?
The Chrome name disappeared again as these JVs materialized and as part of the JV arrangement they dropped the CEC Name and got their house back in respectable order, cleaning up old lawsuits and removing the Going Concern
it not all on track going forward?
Pioneer PXD stock may be a bargain- Barron's
PXD : NYSE Last at $46
Sun Aug 14, 2005 06:01 PM ET
NEW YORK, Aug 14 (Reuters) - This year's record high oil prices may have run up the stock prices of most energy companies, but buying shares of Pioneer Natural Resources Co. (PXD.N: Quote, Profile, Research) could be the cheapest way to play the energy market, Barron's reported in its latest edition.
Based on the long-term value of its oil and gas reserves, the Dallas-based exploration and production company is trading at a sharp discount to its competitors and could be a target for takeover or pressure from activist investors, the financial weekly said.
If the company were to be liquidated, its stock could be worth $65 or more, Barron's said. But the stock has trailed other leading energy companies for the past two years, and a recent forecast for 2005 production disappointed Wall Street, Barron's said.
Pioneer Natural controls the equivalent of a billion barrels of oil and gas reserves.
Its stock rose 50 cents, or 1.2 percent, to close on Friday at $43.36 on the New York Stock Exchange.
For the year to date, Pioneer Natural's stock is up about 24 percent. That lags the average gain of 50 percent for exploration and production companies so far this year, Barron's noted.
The price of U.S. crude oil futures for September delivery hit a record $67.10 a barrel on Friday before easing a bit to settle at $66.86, up $1.06 on the New York Mercantile Exchange.
© Reuters 2005. All Rights Reserved.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq and all other quotes delayed by at least 15 minutes. Reuters does not endorse the views or opinions given by any third party content provider.
When is Chevron scheduled to drill in the JDZ ??
"1st quarter 2006"
Best Regards.....
Femi Odumabo
General Manager, Govt. & Public Affairs
ChevronTexaco Nigeria-Mid Africa Business Unit
E-mail: OOdumabo@chevrontexaco.com
Phone: D/L +234-1-266 0168
Cel: +234-803 402 2979
just a re post of the JDA news from last week
DELAYS have been announced for the second time this month in efforts by Nigeria and Sao Tome&Principe to licence deep-water acreage in the Gulf of Guinea, writes Barry Morgan.
The Abuja-based Joint Development Authority, which manages the exercise, has indicated the process is unlikely to be completed before mid-December.
Chevron will sink the drillbit in October in Block-1, while hopes that exploration could start on blocks 2 to 6 this year have receded.
The Joint Ministerial Council did not expect to receive the "standard production sharing contract" documents from licence winners until 8 August, but anticipates reaching approval stage by 22 August.
PSC talks between the JDA and participants should be concluded before 13 September for Block-2, by 15 September for Block-3, and 19 September for Block-4, with blocks 5 and 6 finishing over the following couple of days. The harmonised drafts should be finalised by 12 October for approval by the council on 21 October, according to the JDA.
Instead of running talks on the Joint Operating Agreements concurrently, it has been decided to delay these until all the PSCs are concluded.
The JDA does not therefore expect companies to submit agreements until 3 November, before reaching signature stage that same month.
The JDA plans to stagger signatures for blocks 2 to 6 through the second week of November, with the deadline for paying signature bonuses falling exactly one month later.
It is believed the Nigerian oil bureaucracy is wilting under the workload thrown up by the concurrent exercise to licence the Nigeria and Sao Tome Exclusive Economic Zone
you must LISTEN to the PXD presenter at 21 Min mark
PXD/ERHC DRILLING Schedule for BL 2
"Rig slots being negotiating right now in BL 2 for 2006"
Pg 22 Pioneer Aug 11 http://www.pioneernrc.com/
click
Investor
Investor Presentation
New Pioneer Investor Presentation
may be a few new nuggets
at http://www.pioneernrc.com/
Click Investor
Click Live Web cast Aug 11
starts 10:20 AM
http://www.chevron.com/operations/africa/ I have asked Chevron when drilling will commence in the JDZ
will post any reply
nice to see Chevron with the JDZ PR and a PDF file both with the JDZ mentioned on their web site
new updates at http://www.nigeria2005bidround.com/
Mongo, the JDA's latest update says PSCs signed in early Nov. with Sig Bonuses payable in Dec.
good chance for 0 drilling this year in BL 2-6
But
CHEVRON is said to drill in Oct.
Oil strikes new high above $64
Market factors in potential for trouble in the Mideast that could strain an already tight market.
August 9, 2005: 6:05 AM EDT
SINGAPORE (Reuters) - Oil rose to a record high above $64 a barrel early Tuesday as traders factored in the potential for Middle East supply disruptions that could add strain to a market already struggling with refinery problems.
U.S. light sweet crude for September delivery pulled back to $63.75, down 19 cents from Monday's settlement, after soaring past the record high set in the previous session to a new peak of $64.27 a barrel in premarket electronic trading.
The new record is 48 percent higher than the start of the year.
September London Brent was down 15 cents at $62.55, having earlier raced to a record high over $63 a barrel.
"The key issue now is the geopolitical risk," said Dariusz Kowalczyk, senior investment strategist at CFC Securities Ltd in Hong Kong.
"Because spare capacity is so low, any threat to supply makes the market very nervous, either on the crude side or refined products side," he added.
In Saudi Arabia, the world's top exporter, U.S. missions were shut for a second day and Britain said militants were in the "final stages" of planning attacks, while the U.N. nuclear watchdog prepared to discuss Iran's resumption of nuclear work.
With U.S. crude averaging above $53 a barrel for the year to date, in real terms prices are well above those during the 1974 Arab oil embargo. But oil is still below the $80 a barrel average seen in the year after the 1979 Iranian revolution.
After rallying since late July on a series of U.S. refinery outages that have tightened fuel supplies, prices soared this week as Middle East security fears come back to the fore.
Britain on Monday cited "credible reports" of an attack in Saudi Arabia, which is battling a two-year campaign of violence by supporters of al Qaeda leader Osama bin Laden, who in the past has urged attacks against well-protected Gulf oil infrastructure. (Full story.)
The U.S. warning also extended to seaborne vessels travelling in the southern Red Sea.
Iran, OPEC's second biggest member, was also a focus of concern after Tehran resumed work at a uranium conversion plant on Monday, defying EU warnings that it could be referred to the U.N. Security Council for possible sanctions.
"The risk of such a scenario has increased substantially and that had to be priced in," said Kowalczyk.
The governors of the U.N. International Atomic Energy Agency (IAEA) will hold an emergency meeting Tuesday, but diplomats said it was not likely to call for a U.N. referral just yet, giving the EU and Iran time for more talks. (Full story.)
Refinery problems remain
Speculative fears about Middle East flows were complemented by fundamental factors in the United States, where more refinery problems heightened doubts about whether summer fuel supplies would comfortably last the rest of the driving season.
Nearly a dozen refiners have been forced to close down units unexpectedly in the past few weeks as a summer of near full-throttle operations begins to take its toll.
Adding to the list, Sunoco Inc. (up $0.41 to $64.59, Research) shut its 200,000 barrel per day (bpd) Philadelphia refinery at the weekend after a fire, while Valero Energy Corp. (unchanged at $88.32, Research) also cut gasoline production by 50,000 bpd at its Sunray, Texas, refinery.
The glitches, coupled with still strong demand, are likely to cause another fall in weekly U.S. gasoline inventories, industry analysts predicted Monday.
Stocks were expected to draw by 1.8 million barrels while crude inventories dip just 200,000 barrels. U.S. government data on industry inventories is due to be released on Wednesday.
Pump prices in the United States reached a record high $2.37 a gallon last week, the government said Monday, but the global economy has thus far largely shrugged off higher fuel costs.
Oil rises to record $63.25
mongo did you find something, if so kindly post
ERHC Bids In Nigerian EEZ; Offor May Seek Other Stakes
http://www.erhc.blogspot.com/
ERHC Energy has "at least one bid" on blocks offered in the Nigerian Exclusive Economic Zone, and ERHC chairman Sir Emeka Offor may be teaming with local companies to gain "stakes up to 10 percent in available blocks under provisions designed to promote local content and the growth of indigenous capacity," ERHC On The Move has learned.
Until now, there had been much speculation but no evidence the company bid in the Nigerian EEZ, where a host of companies are seeking the best of dozens of blocks offered onshore, near-offshore and in deep water.
Procon, the negative press was the Devon pull out,
Lou S. what exactly are you hoping to achieve. The consortum[s] are in high level talks to advance progress and I cant figure out what more you need.
Did you call the JDA? Did you call PXD/NBL?
Did you not see the PXD PR this week with ERHC highlighted.
Big money wont come in till contracts are in place, according to the last JDA PR last week end of Sept/ early Oct
the pps sucks balls right now but stop your crying, you sound like a child, CC your local politicians, are you for real?
chill dude....
petemantx call Pioneer's CEO Mr. Sheffield he told several hundred Oil analysts yest. of his partnership with ERHC in the JDZ
he seemed pretty excited/confident
I dont think he'd put his 10 billion company at risk on a scam, do you?
Pioneer Analyst Call Highlights, Aug. 2, 2005
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=PXD&script=1010&item_id=1101672
Speaker Pioneer : CEO/President Scott Sheffield
Operational Highlights - pg.4
Awarded Exploration rights on two deepwater blocks in JDZ
Focus on Growth - JDZ on pg.7
Map of Growth Areas
Of Note PXD/APC in Tunisia Partnership [BL 3 in JDZ]
West Africa Growth Opportunities - pg.8
Expect to Drill 8 wells 2005-2007
JDZ, PXD/ERHC hold 65% interest BL 2 & 25% BL 3
In Talks with JDA – expect contracts w/in 90 days
Awarded Operatorship in BL 2
Have RIG contract for BL 2
Excited about Growth potential offshore W.Africa
Q&A
PXD Q2 Slide presentation ...
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=PXD&script=1010&item_id=1101672
PXD mentions ERHC in PR !!!!!!!!!!!!
http://biz.yahoo.com/bw/050802/25287.html?.v=1
The Company continues to expand its deepwater exploration program in West Africa. Pioneer was awarded exploration rights to acreage in Blocks 2 and 3 in the Joint Development Zone between Nigeria and Sao Tome and Principe through a consortium with ERHC Energy Inc. The consortium was awarded 65% interest in Block 2 and 25% interest in Block 3 subject to negotiating acceptable joint operating and production sharing agreements.
Pioneer PXD 2nd QTR Conference Call Today
Tuesday, August 2, 2005 9:00 a.m. Central
Internet: http://www.pioneernrc.com
Select "Investor", then "Webcasts/Earnings Calls"
Telephone: To listen, dial 800-474-8920
(confirmation code: 5477131) five minutes before the call.
View the accompanying presentation via Pioneer's
internet address above.
JDZ BLOCK 2-6 PSC/JOA Timetable now on JDA Site
new JDA Press Statement
http://www.nigeriasaotomejda.com/
2005 Nigerian Bid Round: Korean, Chinese Firms Get 7 Oil Blocks
This Day (Lagos)
July 27, 2005
Posted to the web July 27, 2005
Mike Oduniyi And Onyebuchi Ezigbo
Lagos/Abuja
Following their response to the Federal Govern-ment's call to establish Independent Power Plants (IPPs) in Nigeria, South Korean and Chinese companies will get a total of seven blocks from the acreage on offer in the 2005 Bid Round.
However, the intense jostling among 120 Nigerian indigenous companies for equity interests in the oil blocks on offer, might have slowed down the process of the licensing round as the Department of Petroleum Resources (DPR) could not announce the applicants that scaled the technical qualification stage of the exercise as planned for yesterday.
Korean investors, comprising the Korea National Oil Company (KPOC), the Korea Electric Power Company (KEPCO), Daewoo Ship-building and Marine Engi-neering Company and POSCO Engineering and Construction Company Limited, signed on Monday a Memorandum of Understan-ding (MOU) with the Ministry of Petroleum Resources to among others, build an IPP with generating capacity of 2,250 mega watts of electricity and construct 1,200 kilometers of pipeline that will transport natural gas from Niger Delta fields up to the Abuja network grid.
For the investment, the Koreans are to get two deep offshore blocks and one shallow water block from the 14 acreage the Nigerian government had earmarked for strategic downstream partners.
The China National Petro-leum Company (CNPCO) on the other hand, will get four oil blocks for its willingness to invest in the construction of hydropower plant in Mambila, Plateau State, with over 1,000 MW capacity, as well as taking controlling stake in the 110,0000 barrels per day (bpd) Kaduna refinery.
Minister of State for Petroleum Resources, Dr. Edmund Daukoru told newsmen yesterday that the MOU signed with the Korean investors represents a milestone in Nigeria's quest for foreign investment to jump-start the economy.
Describing it as one of the achievements of President Olusegun Obasanjo's drive for foreign investments in the last six years, Daukoru said that the investment relationship entered into with the South Koreans was one with enormous potential for immediate benefits for Nigeria.
"They are areas where Nigeria needs investment. They (Koreans) came to us and we offered them opportunities for investment on a win-win basis," said Daukoru.
"Korea consumes as much crude oil as we produce in one day. They consume 2.1 million bpd and our production is slightly more than that at 2.4 millon bpd. They need access to crude oil, so we are offering them oil blocks in exchange for them building a pipeline of 1,200 km to Abuja.
"They are also prepared to build power plant that will generate 2,250 MW. That is the immediate package," said the minister.
He said that Daewoo is desirous of setting up a shipyard somewhere in the Niger Delta, as well as partner the Nigerian government to run a crude oil and LNG cargo fleet, where the Federal Government will retain some equity initially in trust for the Nigerian company and Korean investors having about 49 percent equity.
"Also with the Chinese, we recently packaged a deal involving operatorship of the Kaduna refinery plus hydro scheme in Mambila to generate thousands of mega watts of electricity. In exchange for that we are offering them four oil blocks. So I hope all these will send a powerful signal to all others who may be on the fence about making up their minds," Daukoru said.
Nigeria is currently facing energy problem as electricity generation by the Power Holding Company, which stood at around 3,000 MW is just half of the national power demand put at 6,000 MW.
However, at a meeting held yesterday in Abuja with applicants in the 2005 Licensing Round, the Director, Department of Petroleum Resources (DPR), Mr. Tony Chukwueke, said Korean and Chinese investors would, however, be required to also bid for the blocks already dedicated for downstream investors.
Chukwueke said the implication of this is while the Koreans and Chinese will have the right of first refusal, other companies can also bid for the 14 oil blocks but would have to bid higher than what these companies are offering.
"The Korean and Chinese are participating in the 14 blocks and other blocks in the open bid. It is clear the government will not award blocks outside of this (2005 Bid) process," he said.
Yesterday's meeting was called to announce technically qualified candidates of the 350 applicants and then issue bid certificates to the prospective investors.
According to the DPR director,
35 companies applied to bid for the 12 blocks in the deepwaters 61 companies submiited applications for the six blocks in the continental shelf,
53 firms for the six onshore blocks
4 companies set to vie for the 12 blocks in the Chad basin.
While three companies showed interest in the nine blocks on offer in the Anambra Basin, Chukwueke said no investors showed interest in the Benue Trough.
However, the announcement of the technically qualified companies could not be made yesterday as planned as the DPR could not get presidential approval on the Nigerian indigenous companies that will be listed as Local Content Vehicles (LCVs) for the eventual operators in about 40 blocks.
The announcement initially scheduled for Monday evening was later postponed till yesterday. But when the applicants reconvened again, the Permanent Secretary in the Ministry of Petroleum Resources, Hajia Ammuna Lawan-Ali said that consultations were still going on and that "the matter is before Mr. President and it will be premature for us to say much on the issue."
ERHC NEWS ICON - is there news out ?