Amazing sp. Depression abounds. There goes my luxurious retirement.

Uh, this is what this investment is. If you want REITs thats another part of your portfolio. Its called diversification and EO has other investments as many of us should and do.

Its "stupid" according to you to lose money in any investment. Banks fail too. If or Sinopec struck oil in the JDZ EO would have alot more than 2 mill a month. REMINDER:::

No risk = No reward

THIS IS A WILDCAT OIL EXPLORATION PLAY not a Starbucks Walgreens portfolio. Invest when there is blood in the streets and everyone is running away ( now?).

http://www.sec.gov/Archives/edgar/data/799235/000163660615000002/xslF345X03/primary_doc.xml

They have been buying for months. Does that sound like a sinking ship?

Do we have great assets? How great no one knows, except Peter and a few. Their actions speak loud and clear. Cant they tell the shareholders? Seismic details Confidential? What are the seismics in 11a? They must be great, otherwise it would be game over.

Whats in the MOU and with who?

They have survived this long, they always surprise us. This story will be worthy of a best seller book, it they drill and strike a whole new oil field(s)!

Too many unknowns for investors to buy. That is the problem as well as toxic spiral. Only the insiders know the true asset potential and what are they doing??? buying.

http://www.ft.com/cms/s/0/7711b2f8-c953-11e4-b2ef-00144feab7de.html?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev#axzz3UVbNeFLw

"l Amosing EWT results continue to reinforce that we have a world-class oil basin on our hands."

Folks the stock price means little if the seismic is strong as CEPSA thinks, they can farm out based on potential oil reserves IF the data looks compelling. If someone will step up and write a check for 20% of block11a for 20 million we are good to go. Again this has nothing to do, no coorelation with share price. But it would change its direction with this news.

They must not be worried, the God father has deep pockets apparently.

Im assuming ERHC and CEPSA have set up a data room for buyers to look at seismic in 11A, buyers (farm in) for our 35% in 11A. Im sure this took some time and approvals, etc... When the selling stops it will rocket upwards. seriously who would bother selling here if they werent convertibles.

IMO Ophir has seen seismic trends moving from thier block into ours in the EEZ.

If they can just sell one of the EEZ blocks for 10 million, well be good to drill?

We are drilling in less than 12 months, have a MOU in EEZ, proven oil in Chad.... why is the share price .0005. ?

Is there no way we can drill? Sell an asset? Has the fat lady sang?
Wouldnt CEPSA drill anyway, even if we dont have money to participate further?

http://oilinkenya.co.ke/uganda-to-award-new-oil-exploration-licences-in-eight-years/

western uganda

http://finance.yahoo.com/q?s=CLJ15.NYM

2015-03-04 21:24:33 - New Energy market report from GlobalData: "ERHC Energy Inc. (ERHE) - Financial and Strategic SWOT Analysis Review"

ERHC Energy Inc. (ERHC) is an oil and gas exploration company. The company acquires, explores and develops oil and gas properties in Africa. It has a Production Sharing Contract (PSC) with the government of the Republic of Kenya on Block 11A in northwestern Kenya. ERHC has operations in three oil blocks - Block BDS 2008, Manga and Chari-Ouest Block 3 - in the Republic of Chad. The company has participation in oil exploration and production activities in Sao Tome & Principe's Exclusive Economic Zone (EEZ) with an area of 160,000 square km. It has operations in six of the nine Blocks in the JDZ, a 34,548 sq km area 200 km off the coastline of Nigeria and Sao Tome &

Principe and drilled in JDZ Blocks 2, 3 and 4. The company's acquisition includes Nigerian waters of similar depths to the JDZ blocks. ERHC is headquartered in Houston, Texas, the US.

As long as we fall all into a scenario where the share price is north of 50 cents its all good.

800 million barrels in Chad

2.5 billion barrels in Kenya 11a

EEZ, black gold seeps onto the beaches.

Here is the carrot, Whats our share price with 3 billion shares OS and with eventual average 20% of 3 billion barrels.??? 600mil x 40/3bill shrs= 8 dollars a share!

SINGAPORE (Reuters) - Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya.

In a move widely seen as showing Saudi Arabia's confidence about a recovery in demand, the OPEC kingpin raised the official selling prices (OSPs) for its oil deliveries to Asia and the United States on Tuesday.

"This is a sign that prices have bottomed out because it means Saudi is confident in raising prices without being afraid of losing market share," said Tony Nunan, a risk manager at Mitsubishi Corp in Tokyo.

In the past seven weeks, Brent crude (LCOc1) has risen from a six-year low to hold above $60 a barrel despite continued concern about a global oversupply.

http://www.energy-pedia.com/news/general/new-162728

Dry or non commercial finds are a big part of this type of business. If you dont understand that you should have never invested. Most here had a chance to take a profit at some point. Their is no corruption here, far from it. They enticed a company to spend over 400 million in drilling cost (Sinopec). Now, they have Chad, EEZ and Kenya, that's remarkable considering all the circumstances. The fat lady hasnt come on the stage yet. Quite the opposite, with the "insiders" buying and investing, there is a clear message being sent to all of us, some arent listening.

Really, who in their right mind (other than conversions) would consider selling here.... to get what ? Pennies?

JDZ highly complex reservoirs but perfectly valid play

Keen exploration interest in deepwater prospects between Nigeria in the north and Angola in the south has been tempered by modest results from recent West African drilling. Highly prospective areas, like the Joint Development Zone (JDZ) shared by Nigeria and Sao Tome, have turned up only isolated pockets of gas, or, like the deep waters off Congo (Brazzaville), shown mixed results from highly complex reservoirs. Gabon had drawn attention last year with a bid round for 42 deepwater blocks which included a large subsalt basin, but dropped the plan in November in favor of direct negotiations ( PIW Oct.18,p6 ). China's state Sinopec is now reviewing its options in the JDZ after a run of dry holes. Some gas was found, but as in Equatorial Guinea, integrating multiple small gas finds into a commercial project would be challenging. It's a perfectly valid play -- structurally complex, but the plumbing isn't what we'd expect, one JDZ
partner tells PIW.

https://archive.org/stream/ABCNews19781979/Petroleum%20Intelligence%20Weekly%20-%202010%20to%202012%20-%20d.txt

Google said date was 4 days ago.

http://theunion.com.ng/erhc-upbeat-with-exploration-in-africa/

Pure speculation, its possible some shares are being issued in conjunction with a cash farm out contribution. Whats clear is the Share price is not a issue right now, drilling is and a farm out to someone will happen! A Cash Infusion farm out not a stock sale. Once drilling is certain the share price will take care of itself. If we dont drill, certainly nothing good will happen for erhc , that is a fact.

An timely example here: http://www.oilnewskenya.com/?p=2600

If anyone had a few hundred 100 million here to spare wouldnt they consider looking at the long term investment potential in at least 1 of our 4 assets. Yes, and recall it only takes one missile fired or skirmish in Iran, etc.. to run the price of oil up to at least 70 $ a barrel. Its going to spike fast as soon as their is another threat or war, small or larger. imhopes

http://oilinkenya.co.ke/erhc-updates-share-holders-on-block-11a/
Very bullish statements abound about seismic data albiet incomplete as yet.

Read, Swala has only 22 million boe?

http://mobile.nation.co.ke/lifestyle/American-oil-company-sells-stake-to-slash-costs/-/1950774/2633440/-/format/xhtml/-/mw65ww/-/index.html

American oil company sells stake in Kenya’s block in a bid to slash costs


An American company has appointed a transaction adviser in the sale of part of its interest in Kenya’s block 11A in order to cut costs.

The exploration firm, ERHC Energy has appointed Deloitte Corporate Finance LLC to guide in its sale of the block in northern Kenya.

The firm said the plan would enable it to minimise risks and cut costs ahead of drilling of its first well in the first quarter of next year.

“We continue to work with Deloitte Corporate Finance LLC on a further farm-down of our interest in the block,” said ERHC’s president and chief executive officer Peter Ntephe in a statement.

STRUCTURAL LEADS

A farm-down is a practice where a licensed explorer, having struck oil or gas, sells a share in its rights over the find to other firms to share investment cost.

The company currently holds a 35 per cent interest in the block, which is operated by CEPSA, an entity owned by Abu Dhabi’s sovereign wealth fund with a 55 per cent interest.

The firms recently completed data acquisition on the block where they reported encountering “more than a dozen structural leads” that will help in drilling and determination of the location of the first well.

The planned farm-down comes at a time when a number of international oil and gas firms operating in Kenya have announced plans to slash their exploration budgets as the impact of falling crude oil prices takes its toll on revenues.

Last month, Swala Energy of Australia said it was considering a farm-down on its assets in three countries including Kenya to raise cash to fund exploration and drilling.

Swala Energy is licensed to explore for oil and gas on block 12B in Kisumu, which it estimates could be having crude deposits amounting to 22 million barrels.

Seems float excess shares are being dumped. Perhaps its a cleansing before a merger? Its orchestrated, for sure, no reason for the share price to be below, 10 cents imo.

Why dont they disclose detailed reports on seismic results in Block 11a?

I agree, apparently the 250 k was all that is needed to complete 11a and Chad obligations, as they obviously have found their other sources/partners for the assets. We will learn of these terms in the next 30-60 days.imo.

Kenya is vast and the testing shows over 12 drillable sites already. Could be a huge new oil field waiting to be developed. That's why everyone is still here and contributing money, time and effort.

Generous man

https://www.rotary.org/myrotary/en/sir-emeka-announces-1m-gift-polio-sydney-convention

http://www.sireofforfoundation.org/index.php/news-and-events/245-sir-emeka-offor-foundation-cheers-on-nigerian-team-at-iwas-junior-games

This isnt the first time he has invested his hard earned cash in ERHC, how do you think he ended up with some many shares. He saved ERHC back in 1999 I think it was ,,, read the history.

Your right on. Must be very good data on all assets. This is clear now. Thank God he is able to invest in this manner. We're up 200% this week!

Yes, but it should have been 5 million.

Great news: But now, Tullow says that Kenya and Uganda have agreed to build a pipeline with a total length of 1,300 to 1,400 km linking Uganda to Lamu at the coast then to South Sudan. The British oil company co-owns blocks 10BB, 13T and 10BA with Canadian Africa Oil Corporation. It has since February 2012 struck oil resources estimated at 600 million barrels with a potential in the upwards of a billion barrels. In Uganda, Tullow is eyeing more than 200,000 bopd gross production. Other than the joint planned investment in a pipeline, Kenya and Uganda are moving forward with a unified commercialisation plan for development of the upstream industry that also entails a modular refinery initially sized for 30,000 bopd.

On Tuesday, Uganda picked a consortium led by Russia’s RT Global Resources to build and operate Uganda’s $2.5 billion crude oil refinery. RT Global Resources, owned by Russian defence conglomerate Rostec, leads a consortium that also includes Russian oil producer Tatneft and VTB Capital, the investment banking unit of Russia’s No. 2 bank VTB. Others partners include South Korea’s GS and Telconet Capital Ltd Partnership.

Tullow Oil, French oil major Total and China National Offshore Oil Corporation (CNOOC) are developing Uganda’s fields. Oil discoveries in Uganda and Kenya by Tullow Oil and gas deposits found off Tanzania and Mozambique have turned East Africa into a frontier for hydrocarbon exploration. Investors have billed the region as the world’s most promising frontier for oil and gas exploration.

Hopefully, If Kenyan data is strong, CEPSA will rescue us with a new agreement beneficial to all, especially shareholders. CEPSA has plenty of funds available. If they think there is oil to be found and the case is strong, we have a chance, yes, I also think they may take all our assets. CEPSA loves good acquisitions. Ipic is an explorer.

http://www.bloomberg.com/news/articles/2013-11-19/abu-dhabi-s-cepsa-to-buy-coastal-energy-for-c-2-3-billion


http://www.ogj.com/articles/2011/08/ipic-acquires-total-sa-stake-in-cepsa.html

IPIC and Total also plan to expand their partnership, especially in exploration and production.

EEZ 2 100% blocks oil deeps onto the beach + mou + excellent prospects in block and all around surrounding areas.

Chad 800 million barrels oil 100%

Kenya -35% fast track drilling ...over 12 propects to drill!

You tell me, is their chance of success any less than 90% of other oil companies to find oil and profit from it? no! I do vote for cutting salaries though.

If you don't believe there is a chance of profit, why in the world are you here at all?

Yes, look forward not back in time, no one is perfect, especially in the oil exploration business.

A wise old geologist once told me: "stay with me long enough and I'll make you money".

You may have many dry holes but one good hole changes everything.

Yeah 600 to 1200 % might help.

If anyone was buying the stock would not be at .005.

Deja Vu, feels like Sinopec. The sky has fallen boys. For some reason I still think ERHC will pull a rabbit out of their hat, their track record is exactly that. I get a kick out of the 100 million dollar budget for EEZ announced wht, 16 months ago. Love to here about a farm out in EEZ. There can be many reasons not releasing seismic in 11a, definitely hurting our stock valuation. I think EO can not buy more stock of ERHC, probably a condition set by the SEC back during the investigation.

CAMAC Energy Completes 2D Seismic Acquisitions in Kenya
Posted on 12 February 2015.
CAMAC Energy Completes 2D Seismic Acquisitions in Kenya
CAMAC Energy has annnounced the successful completion of its onshore 2D seismic acquisitions on blocks L-1B and L-16 in Kenya.
The 2D seismic program was conducted by BGP Kenya Limited (BGP) and covers approximately 700 line kilometers on L-1B and 325 line kilometers on L-16.
The objective of the acquisition is to identify potential exploration targets in the Paleozoic, Jurassic, Cretaceous, and Middle to Lower Tertiary sections, which are known to be oil-bearing in the East Africa region. The seismic survey, paired with the previously completed airborne gravity and magnetic surveys, will be used to help identify potential drilling targets on the block.
“The preliminary results from data processing in the field are encouraging”, commented Segun Omidele, Senior Vice President of Exploration and Production. “These seismic surveys are fundamental to advancing our onshore Kenya work program and our understanding of the resource potential on these blocks and will help us determine potential locations to begin our exploration drilling.”

Tullow Oil Cancels Dividend And Reports First Loss For 15 Years
Posted on 12 February 2015.
Tullow Oil Cancels Dividend And Reports First Loss For 15 Years
Tullow Oil shares fell around 3% in early deals as it cancelled the final dividend for 2014 and, as expected, reported its first loss for fifteen years.
Depressed oil prices contributed to a 16% drop in revenues to US$2.2bn, while gross profit reduced by about 30% to just over US$1bn, and the pre-tax net loss amounted to US$2bn.
Some US$1.6bn was written off Tullow’s exploration assets, and there were further impairments totalling US$596mln and a US$482mln loss was marked against asset disposals in Uganda.
As previously announced, capital spending for 2015 has been cut back to US$1.9bn, and of that just US$200mln is earmarked for exploration. The remaining exploration budget will pay for wells in Kenya, Norway and Suriname, the company said.
Tullow’s produced an average of 63,400 barrels (net) of oil per day from its operations in West Africa during 2014. In the current year it forecasts net production between 63,000 and 68,000 barrels per day.
“2014 was a difficult year for our industry and a challenging one for Tullow as our results today demonstrate,” said chief executive Aidan Heavey.
“In response to this, and the fall in the oil price, we have reset our business and are focusing our capital expenditure on high-quality, low-cost oil production in West Africa.”
By einnews

http://www.streetinsider.com/SEC+Filings/Form+4+ERHC+Energy+Inc+For%3A+Dec+16+Filed+by%3A+Odobulu+Sylvan/10188030.html

http://allafrica.com/stories/201501150425.html

Oil all around Sao Tome

http://www.nventures.co.uk/e-and-p-activity/


Dont forget the Kenya report.

ERHC Energy Inc. Confirms Leads in Kenya Block 11A with Closures of Up to 20 Kilometers
Seismic interpretation expected to mature leads to drillable prospects

HOUSTON, November 5, 2014 – ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced that ongoing interpretation of 2D seismic data on Kenya Block 11A reveals the presence of several viable leads, some with closures of up to 20 square kilometers. CEPSA as operator, along with their partner ERHC, appointed BGP for the acquisition of 1,086.6 kilometers of 2D seismic data, which was acquired between April and July 2014.

"The possibility of existence of stacked reservoirs, as seen in the Lokichar basin, could be a significant factor in computation of field volumetrics associated with these closures," said Dr. Peter Thuo, General Manager of ERHC Kenya Ltd. "Completion of the ongoing detailed seismic interpretation is expected to mature these leads into drillable prospects."

Leads of similar play types, such as the ones associated with major basin-boundary faults, have been successfully tested in the Lokichar Basin, with reserves of producing more than 600 million barrels of oil in place to date. Other significant proven fields in the region include the Muglad and Melut basins in the South Sudan with 3 billion and 2 billion barrels of oil respectively, and the Albertine Basin in Uganda with 1.7 billion barrels of oil in place.

How to revive a moribund JDZ?
Sao Tome and Nigeria are trying to kick-start exploration in the joint development zone following the departure of the majors. And that won’t be easy with oil falling to $45.

http://www.africaintelligence.com/AEM/oil/2015/01/20/how-to-revive-a-moribund-jdz,108057491-ART

60 days ago.
What is ERHC’s current focus?
ERHC has come a long way from a passive-portfolio holding company confined to one set of offshore assets in the Gulf of Guinea. We’ve diversified the company and taken it onshore East and Central Africa where we have made it a veritable and respected operator in its own right. Our focus is on building value by using aggressive exploration work programs to mature our onshore assets.
What is happening currently in Kenya?
We operated Kenya Block 11A successfully, according to schedule through the carrying out of a Full Tensor Gravity Gradiometry (FTG) survey and the award of seismic. That was before a farm-in to CEPSA, which took over as operator earlier this year. With the conclusion of seismic in the Block and completion of work program requirements of our first exploration phase, preparation for drilling our first exploration well is currently going on at full steam. All this has been achieved in a little over two years, which is quite quick for such work programs.
What is happening in Chad?
In Chad, ERHC continues to be the operator in Block BDS 2008. We have just completed our aero-magnetic and gravity survey, which has enhanced understanding of prospectivity in the block and our assessment of our leads, previously estimated at 200 million barrels of oil (unrisked). We are currently preparing for the award of a seismic survey contract. Given the results of the magnetic and gravity studies, we expect the seismic survey to progress our leads to drillable prospects, in which case preparation for drilling will start in Chad too.
What are your thoughts about the recent decline in ERHC’s stock price?
ERHC’s leadership is focused as always on the company’s valuation. The drop in the price of oil on world markets, gradually from June and then more precipitously over the past three weeks, has drastically affected valuations of oil and gas E&P companies – particularly the smaller ones focused on pure exploration. ERHC is not unique in this and our challenge as management is to seek ways to alleviate the overwhelming effects of the external environment, even as we forge ahead in our work programs in Kenya and Cha

Good they should close the office and meet at Starbucks.