Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
BB: AXC Claims to be Buying Someone in 2 to 3 weeks! More Dots Please.
Sneak
BB: Thank You for your New Dot Connecting. Something more for me to Ponder.
Happy Mothers Day to Your Family and the ERHE Family of Investors.
Sneak
Try: Dana paid 36% OVER THE TRADING PRICE OF CENTURIONS'S $8.50 A SHARE OR $3.50 FOR THE 9.5% OF CENTURIONS JDZ HOLDING OR ABOUT $335 MILLION DOLLARS.
Sneak
Strass: Your Statement is True but, Do you really believe that SEO lets Management FREELANCE on what he (SEO) wants. That is almost Laughable! With all do respect SEO Keeps a tightfist on this Company for His own Interest and that of his Nigerian Counterparts.
Sneak
CCY: CVX does China's bidding in Deepwater!
Try: I do not need to crunch the numbers block by block, I am not the low ball bidder trying to buy the Company. If SEO wants $7.3 billion or $10.00 a share, That is all that has to be SAID. Why is it so hard for Posters here to believe Him.
Sneak
Sidewinder & Try: Centurions 06 fin. statement
http://www.centurionenergy.com/38
See for yourself
Sneak
Try:
Dana Gas says to acquire Centurion Energy
Source: reuters 11/12/2006, Location: Middle East
Oil & Gas Companies
United Arab Emirates firm Dana Gas has agreed to acquire Canada's Centurion Energy International for C$1.15 billion ($1.02 billion) to expand into the upstream gas sector. Under the deal Dana Gas would acquire "all of Centurion's outstanding common shares for C$12.00 per share, representing an equity value of approximately C$1.15 billion on a fully-diluted basis", the company said in a statement.
Centurion shareholders will meet to approve the acquisition in early January 2007, it added.
Centurion said in October it was in talks with an unnamed firm about a possible transaction, sending its shares up nearly 5 percent. Its shares closed on Nov. 10 at C$11.08.
"We are pleased to offer Centurion shareholders full value for a company that meets perfectly Dana Gas's stated objective of acquiring E&P (exploration and production) operations with production and clearly identified exploration prospects for future growth," Dana Gas said.
It said the offer price represents a premium of 36.4 percent over the trading price of Centurion shares on Oct. 30, the last trading day before Centurion said it received an approach from a third party. It also represents a 55.9 percent premium to Centurion's volume weighted average share price for the 20 trading days up to that date.
Dana Gas was set up to deliver gas to utilities and industrial users in the UAE. With an agreement to import Iranian natural gas delayed, Dana Gas's third-quarter earnings came entirely from investments and financing activity
Centurion produces about 32,000 barrels of oil equivalent a day and aims to pump 38,000 by the end of this year.
Earlier this year, the stock was under pressure following disappointing drilling results in Centurion's Egyptian operations. Investors had been closely watching the fifth of a five-well drilling programme as part of a joint venture with Royal Dutch Shell Plc analysts have said.
I did not set the price, SEO did. I believe that ERHE rights give them at least 1.3 bbl of oil and gas condensate in blocks 2,3,4 plus 5,6,9 and the EEZ rights, So if Any Oil Major in the world wants what ERHE has it will have to pay what SEO wants or come very close to that number. That call is not up the the board members or posters here or any other place that may post. The Fact that a pre drill deal is done or is not done is not up to me, that Call is for the powers that be. Thank you for your insight.
Sneak
Tryoty; Who Cares what AXC paid for XOM block #1 we do not know the reason, But DANA GAS did pay $1 Billion for 9.5% of block #4 from Centurion Plus other asset that were not worth $1 Billion Dollars.
Sneak
BB: Could the oil reserves and revenues from the Taq - Tag Oil lift the value of AXC'S share price and cash flow in order to aid in the take out of ERHE at $10.00 a share or 7.3 billion dollars?
Sneak
BB: What is your take on mark's post?
Sneak
BB: Could Shell Oil be looking at the JDZ with SNP and AXC and Nigerian properties?
CEO says Shell talking to possible Chinese partners on joint bid for Iraq oil field Newsday 2009-04-14
photovideoslideshow
BEIJING — Shell is talking to possible Chinese partners about a joint bid to develop oil fields in Iraq, CEO Jeroen van der Veer said Tuesday. "We are in the process of forming partnerships for certain bids, and Chinese companies are a part of that," van der Veer said at a news conference. Van der Veer declined to say which companies Shell is talking to, which field they might bid on or why it was considering Chinese partners. He said the bidding deadline is expected to be in late june.
Hunter: He is just a hand puppet for the PUPPET MASTERS Behind the Scene!
Sneak
BB; I still say SEO will Sell the JDZ rights in a class "A" stock and keep the class "B" stock for the EEZ upside at a later date.
The AXC deal you spoke of will work for the JDZ rights at $6.00 a share reverse split JDZ buy out.
Example; Class "A" (1/2 of ERHE"S total shares) 361,000,000 x $6.00 = $2,166,000,000 / $30.00 AXC share price = 72,200,000 new AXC Shares. The number of new shares could be lower if a cash and stock swap is part of the Deal.
JMO
Sneak
Heads up board: The FBI raid on ERHE'S office had more to do with the Very Large Oil Deposits in the Area then any NAFARIOUS Action taken by ERHE. The Long drawn out delays are more related to the suitors that be Jockeying for Position once the lid is lifted off the drilling results.
Have a nice day
Sneak
BigFish: From the White Board, Oily may be "WB"?
Sneak
CCY: I still say, at the end of the day, after the oil is proven in Large Quantities the oil will be added to the U.S. Strategic Oil Reserves by a U.S Oil Major.
JMH
Sneak
Oily knows Himself that Mark's News will make IRRELEVANT!
Sneak
Oily is the best Contrarian Indicator on the board.
Have a nice Day!
Sneak
Dat:Posted by: sneak-attack Date: Friday, April 17, 2009 1:36:21 PM
In reply to: None Post # of 3381
Try: One must go back to the "White Board" to see a Deal by which Cash, Stockswap and Portfolio Exchanges may come into play, So as not to let any Existing AXC and ERHE Shareholders
get short changed. Now, Remember that Shell's name is Almost Mud in Nigeria. Exchanging and or selling the Shallow water properties. Please do not forget about the Super Large Naturual Gas fields on land. All of this adding very little, if nothing to Shell's bottom line. So Could a Property swap plus cash involving AXC, Shell and ERHE be in the works? Whereby AXC get all of the above and Shell moves offshore to deep water and away from MEND and in the process ERHE gain considerable value and is no longer ERHE the Minnow. The Chrome Oil Service Company helps rebuild the Broken down LNG production Infrastucture on land and Shallow water oil rigs with AXC as Operator and SEO as the Polictical PR man.
Only time will Tell
Sneak
Try: One must go back to the "White Board" to see a Deal by which Cash, Stockswap and Portfolio Exchanges may come into play, So as not to let any Existing AXC and ERHE Shareholders
get short changed. Now, Remember that Shell's name is Almost Mud in Nigeria. Exchanging and or selling the Shallow water properties. Please do not forget about the Super Large Naturual Gas fields on land. All of this adding very little, if nothing to Shell's bottom line. So Could a Property swap plus cash involving AXC, Shell and ERHE be in the works? Whereby AXC get all of the above and Shell moves offshore to deep water and away from MEND and in the process ERHE gain considerable value and is no longer ERHE the Minnow. The Chrome Oil Service Company helps rebuild the Broken down LNG production Infrastucture on land and Shallow water oil rigs with AXC as Operator and SEO as the Polictical PR man.
Only time will Tell
Sneak
Try: P-50 223 MBLS plus Shell's 350 MBLS plus AXC New Shallow water Lease could = 1 BBLS x $6.00 = $6 billion market cap for ERHE. If the powers that be want ERHE, Anything is possible.
JFFT
Sneak
BB: "Is this the shallow end of the field"?
Addax Snags Shallow Water Exploration License in Nigeria
Addax Petroleum Wednesday, June 11, 2008
Addax Petroleum Corporation has been awarded a 40% in Oil Prospecting License (OPL) 227, offshore Nigeria. Addax Petroleum's co-participants in the OPL227 license area are Express Petroleum & Gas Company Limited and Petroleum Prospects International Limited (PPI), both of which are indigenous Nigerian oil companies. The OPL227 license area is located in the shallow water offshore of the western Niger Delta Basin, one of the most prolific petroleum basins in the world.
Related Products
Basic Drilling Technology - English
Elements of 3-D Seismology, 2nd Ed.
"Addax Petroleum continues to demonstrate its commitment to Nigeria and add to its extensive exploration portfolio with this acquisition," said Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum "Exploration in our core area of Nigeria is a cornerstone to Addax Petroleum's growth strategy and we are excited to be acquiring a substantial interest in a license that is in a highly prospective area but has seen very little modern exploration activity to date. We are also pleased that Addax Petroleum has been selected by Express and PPI to be their partner of choice for OPL227 and we look forward to working more closely with both organizations."
The OPL227 license area covers approximately 851 km(2) (210,300 acres) and is adjacent to and to the north-east of the Shell-operated OML79 license area. OML79 contains Shell's EA field development which is reported to have commenced production in 2002 and to contain approximately 350 MMbbl of remaining recoverable oil. There have been four wells drilled in the OPL227 license area, all between 1974 and 1988, all of which encountered hydrocarbons in non-commercial quantities or shows. In addition, there has been minimal 2D seismic and no 3D seismic data acquired on OPL227 to date.
Under the terms of the award, Addax Petroleum received a 40% interest in OPL227 while Express and PPI received interests of 39% and 21%, respectively. Express is the operator while Addax Petroleum will conduct technical operations in its capacity as technical advisor. In return, Addax Petroleum has paid a farm-in fee to Express and PPI and a signature bonus to the Federal Government of Nigeria, and is obligated to fund 80% of a work program comprising a minimum of 500 km(2) of 3D seismic acquisition during the exploration period, while Express will fund the remaining 20%. Addax Petroleum will also initially fund 80% of all capital and operating costs on OPL227, with Express funding the remaining 20%, and will be entitled to a higher than pro-rata share of the net production from OPL227 until all capital costs have been recovered after which all parties will be entitled to their pro rata share of production.
Have a nice day
Sneak
Try: AXC 360 million dollar buy-in is for 27.8% of ERHE"S new share total will sets the price for the 27.8% of the lowball P-50 yet to be proven reserves. Or about 60 mbl of that P-50 total @ $6.00 a bbl = 360 million. Since AXC set the price for the P-50, The 223 mbl is worth $1.338 billion. What can ERHE do with $150 million of the cash, Well buy some shallow water wells maybe or buy EEL, The EEL and KNOC blocks have several billion barrel of oil, Shell has some delta property for sale (Maybe). A listing on the AIM, NYSE and TSE. Now that is a lot of movement in a short time frame, But Who knows? It seems a lot more probable the CHROME taking out ERHE.
JFFT
Sneak
BB: What if ERHE increases the total share count to 1 Billion shares and sells the 278 million new shares for $360 million to AXC. Now Remember ERHE has about 223 mbls of P-50 @ $6.00 or about $1.338 billion dollars. AXC now owns 27.8% of ERHE. This play lessens the Nigerian Control factor (SEO and Atlantic bank 51% reduced to 37%), ERHE Buys Producing oil well property in the Shallow End of POOL (From Shell maybe). ERHE value heads north on the AIMs to $6.00 a share and AXC gives 1 share itself for 5 shares of ERHE, All before drilling?
JMO
Sleeping Good
Sneak
The only RS will be 1 AXC for 5 ERHC shares.
JMO
Sneak
The only RS will be 1 AXC for 5 EHRC.
JMO
Sneak
To all ERHE longs, It has been a Long, Long, Long Voyage on the U.S.S. ERHE Minnow! We have almost reached are Port of Call.
When ERHE was a sinking ship in the sea of losers. All the stock Pumpers and Dumpers gave us a Rosie Picture. Now that we can see the horizon to are port of Call, Do not let the same people SPOOK you out of the boat with fears of swimming to safety.
JMO
Sneak
BB: Could China be talking to AXC about Taq Taq Oil Field? Maybe Shell is Involved, "Shallow end of the Field"
Shell, China Oil Cos May Make Joint Bid for Iraqi Oil Field
by Jing Yang Dow Jones Newswires Monday, April 13, 2009
SHANGHAI (Dow Jones Newswires), Apr. 13, 2009
Royal Dutch Shell PLC is in advanced talks with China's two biggest state-owned oil companies on a possible joint bid to develop the Kirkuk oil field in northern Iraq, a person familiar with the situation said.
Shell, China National Petroleum Corp., the parent of Hong Kong-listed PetroChina Co., and China Petrochemical Corp., the parent of China Petroleum & Chemical Corp., have yet to decide on equity stakes in the consortium, said the person, declining to be named.
Shell had offered CNPC a 15% stake, but CNPC has sought more - around 20% - he added. Stakes that Sinopec Group had been offered are unclear.
In return for taking CNPC along in Iraq's landmark first postwar bidding for development service contracts in its huge and under-developed oil and gas fields, Shell hopes to win CNPC's blessing for a production sharing contract for the Jinqiu gas field in China's southwestern Sichuan province, the person added.
The joint bid, if finalized, would mark China's latest efforts to tap Iraq's rich energy resources, after CNPC became the first foreign oil firm to enter into an investment deal with the new Iraqi government in its domestic oil industry since the 2003 U.S.-led invasion.
"We do not comment on market speculations," said Li Lusha, Shell China's spokeswoman, when asked about the talks.
CNPC's spokesman and Sinopec Group's general office weren't immediately available for comment.
In November last year, CNPC officially signed a $3 billion oil service contract with the Iraqi oil ministry to develop the Ahdab oil field in central Iraq.
The deal was only a revival of an agreement signed with the ousted regime of Saddam Hussein and not one won in a commercial bidding.
Chinese oil giants, including CNPC and Sinopec Group, have a relatively short history compared with their international peers in overseas oil and gas field bidding and operations and are keen to build up experience.
According to the semi-official version of the model contract that the Iraqi Oil Ministry sent to international oil firms in mid-March for the bidding round, oil firms will be entitled to a 75% stake in the joint ventures, while state-owned Iraqi operators at the fields will hold the rest.
The successful international companies would receive remuneration in kind for each produced barrel as well as cost fees under those service contracts. A total of eight oil and gas fields, including Kirkuk, were available in the first bidding round.
A second bidding round was announced at the end of December, naming 11 fields that would be opened for bidding for development service contracts. No Chinese companies were mentioned by Iraq's Oil Ministry, which picked nine companies last month to compete in the second round.
Baghdad hopes contracts for the fields will help boost Iraq's crude output capacity to 4.5 million barrels a day by 2012 from 2.4 million barrels a day now.
However, China's oil majors won't get a free ride for gaining precious experience in global exploration, as that country's massive domestic energy products market is also being closely eyed by international counterparts.
China's efforts to boost the percentage of natural gas in its energy mix has attracted the interest of foreign energy majors seeking access to its natural gas assets, particularly in regions with potentially rich reserves such as Sichuan.
China wants natural gas to account for around 10% of its energy portfolio by 2020, compared with less than 3.5% currently.
Shell already has a joint venture with PetroChina that operates the Changbei natural gas field in northwestern China, which was pumping 10 million cubic meters of gas per day as of September last year.
Shell also wants to increase its involvement in China's refining sector, and aims to complete a feasibility study of a joint venture refinery and petrochemical complex with PetroChina and the international arm of Qatar Petroleum by the end of this year, Lim Haw-Kuang, the executive chairman of Shell Companies in China, said in late March.
Copyright (c) 2009 Dow Jones & Company, Inc.
BB: Thank you for the insight. Always helpful.
Sneak
BB: I do not like the sound of the Chinese buyout of AXC before AXC takes out ERHE. I still believe a Chinese take over of a U.S. Company will not go over very well if other U.S. Oil Majors want a large play in the JDZ. Having said that, Looking back at your previous post, I'am still in the camp of a new entity be formed to develope the JDZ. Maybe the Chinese will take a large stake in this NEW ENTITY.
Sneak
Try: I never said it was a River of oil. I only stated that most of the oil in the multiple formation of the JDZ maybe connected in some way. Hence the formation of a New Entity to develope the JDZ.
Sneak
BB: Just because the Chinese are talking to AXC does not change all the work that has gone into the last five years of getting ERHE and other JDZ participants to where we are today. Are You saying the AXC and Chinese talks are a Game Changer? And if so How does that fact relate to the your post below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=24451849
BB: Most of the oil in the 4 JDZ blocks maybe come from the same Meandering Channel. So how do you come up with a buy-out that does not merge all of the 4 blocks of the JDZ Participants with out delaying the development and production of oil from the JDZ without infighting that may develope from a Massive oil find.
Sneak
Try: Kina may hold 600 mbl of oil but, If the flow of oil into this formation is fed by the "Meandering Channel" the total volume and capacity could be Mind Blowing!
Sneak
BB: Looking at the White Board agian. Do the powers that be Form a New Company based on the NSAI reports for the 4 blocks of the JDZ? Then Issue shares of the New Company based on the percentage of rights in the 4 blocks combined (ERHE about a 15% average). Then listed the New Company on the World Markets to draw in new investors plus capital to develope the blocks, Then all the cost saving plus accounting questions streamlined for fast track development. When the Proven oil happens to be much greater than the NSAI report, The ship head for the STARS! This New Company could then Dominate the JDZ as well as have the economic clout and muscle to jump into the EEZ without any questions. Remember ERHE wanted block 5 and 6 back, also XOM sold out in block 1 in order to get a larger play later or so we are told. The Interesting question is how many shares will the New Company issue to JDZ Participants and how many will be sold in an IPO.
JMO
Sneak
BB: I believe the P-50, 223 mbl @ $6.00
Sneak
Mark: Oil us one up! (Riddle Please)
Tryoty: 4 EEZ blocks @ 100%! The Big Oil Companies of the World will be Circling Prey!