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why? eom
Could be a good guess. eom
BM's usually come out on Thursday. Maybe a late article online.eom
Probably Sinopec. Not sure what the "up river" comment means though. Maybe someone is "going up the river"? LOL
could well be J.C. Maybe barry M? LOL eom
could have bought at .20-unlikely oily. eom
Driving Vip. Taking the kids-hoping the DVD players work. eom
Yup-Live in Calabasas-work in Malibu. Like me, bet you get up early for the market. Makes for a long day.
Spec-would have loved to meet you but I'm leaving Sunday. maybe next time.
Going to Vegas in couple days. Anyone else gonna be there? eom
Thanks Emdyl-that release came out a while ago. Hoefully the schedule for the rig won't change too much.
XOM's 2 25% choices are NOT free. eom
So there could be a BOD meeting going on right now? This week? eom
That is totally untrue. eom
awesome. thanks. eom
Not sure if they are lying about a shareholders meeting but I think they did say there would be one this year? Seems doubtful there will be one this year anyway.
AND, Godsonic didn't have NICK as a shareholder!! eom.
AND ERHC owns som much more % rights than the other small co's. eom
Thank you sir!! Much appreciated. eom
Does anyone know what the name of SEO's tribe is and the name of his province? I'm thinking the province is Anambra but someone please confirm. Thank you.
OT-Hi Dadd-Everything is fine. Family had to evacuate and stayed w/us a few days but i was a few miles from it. Malibu dodged a bullet overall-firemen amazing people. Thoughts are with the people of San Diego and other areas that got hit so hard. Thanks for your concern.
Here is the Africa Energy Intelligence article:
NIGERIA/SAO TOME AND PRINCIPE
Addax Picks Up Leftovers
Disappointed with the results of a first well, ExxonMobil has decided to pull out of block 1 in the JDZ.
The U.S. group Chevron, which operates block 1 in the Joint Development Zone (JDZ) between Nigeria and Sao Tome, drilled the most expensive well in the region’s prospecting history in 2006 and came up with mixed results, to say the least. While Obo 1 identified oil reserves the quantity wasn’t commercial and the setback prompted Chevron’s partner, ExxonMobil, to sell its 40% holding in the acreage.
Already present in the JDZ, Addax Petroleum has just laid out USD 77.6 million for the holding. The company also pledged to pay ExxonMobil 2% of the revenue it derives in future on the block located just south of the Akpo field in Nigeria’s offshore. A second well is to be drilled next year.
The partners of Chevron and Addax on the block are two juniors, Britain’s Afren, which was founded by the former OPEC chairman Rilwanu Lukman (4.41%) and Nigeria’s Dangote Energy Equity Resources (9%). Dangote Energy is a joint venture between Dangote Group headed by Aliko Dangote and Energy Equity Resources, a firm led by Norway’s Olav Eimstad and the Nigerian national Osamede Okhomina.
Meanwhile, the first wells on block 2 are to be drilled in early 2008 by the block’s operator, China’s Sinopec. Addax owns a 14.33 stake in the block. The two companies have reserved the drillship Abraham to drill five wells with an option on a further five. Also in the JDZ, Addax operates block 4 with a 38.3% holding and possesses 15% of block 3 operated by Anadarko.
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Thanks Art-Pretty crazy but luckily we are all safe. have family who had to evacuate staying with me. Thoughts are now with the folks in N. San Diego who are being devestated. Only internet access now is through a Kinkos store. trying to check in on occasion.
High bidder who is SELECTED gets operatorship and allocated %'s are pro-rated to other successful bidders. JDA makes sure though operator has the financial and technical ability to be operator. Pretty sire this is how it works or is supposed to work.
This is one of the reasons I believe Anadarko was so pissed-If I remember correctly, their $90 Million bid in I think blk 4 was high bid but they didn't get operatorship. Maybe someone can confirm the facts. My memory isn't what it used to be.
XOM exercised their 40% preferential right in Block 1 I believe. They could have been operator if CVX didn't bid so high. They couldn't have known (I think) what the other bids were going to be so they must have known that it was atleast POSSIBLE that they wouldn't be operators.
I think they meant that 100 police are having a riot. lol.
Sounds like they just want to be paid.
you are wrong. eom
and they got it. eom
somebody unloading? eom
Hey folks-lets not open up a political debate here. No. 1 its off-topic and will bet deleted, No. 2, its a very sensitive topic that upsets lots of people and No 3, it gives Nick heart burn and makes him flagellant.
huh? Big oil which controls much of the refining has been declaring BILLIONS and BILIONS in profits? Not sure what you mean Bob.
Hunter-I posted that on the ERHC board-why did you feel it necessary to re-post it on the AXC board?
Please-Many existing refineries are just plain out-dated by many years by their own admission. I'm not talking about off shore LNG's which I totally agree noone wants off-shore their community's. Just read a an article few one of thatdays ago the biggies is expanding/retrofitting their plant and will only take a few years. The ability has been there-co's just don't want to spend the money.
Sorry, not gonna cut the major refiners any slack. Similat to the problems with the nations power grid. greed and negligence. Government to blame as well.
Its about time-Its ridiculous watching the big oil co's profit from their own negligence and lack of planning.
and refining!! eom
DOJ/SEC/HLS investigations I would think. eom
Also would make sense for AXC to take out EEL. I'd be just a little miffed if I were an EEL shareholder now.
Seems like a re-filing of previous filing from 06 showing he owns no shares. I think. Help me out Nick.
New SEC filing: http://www.secinfo.com/d12Pk6.uHmj.htm
Without buyers we don't go anywhere. end of story imo. eom