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.
New ERHC Directors a] Mr. Leslie Blair [ from Addax Petroleum Corporation, Executive Director Business Development] & b] Mr. Friday Oviawe, CPA [Mr. Oviawe is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants (AICPA)]
Nominee Biographies
Ambassador (rtd.) Howard F. Jeter. Ambassador Jeter is the former President and CEO of the Leon H. Sullivan Foundation. He has also served as Executive Vice President of GoodWorks International, LLC, an international consulting firm focused on business facilitation and investment promotion for Africa and the Caribbean. A former career diplomat, Ambassador Jeter served for 27 years in the American Foreign Service and retired from the U.S. State Department with the rank of Career Minister. Ambassador Jeter was U.S. Ambassador to Nigeria, to the Republic of Botswana, and also served as Deputy Assistant Secretary of State for African Affairs, Director of West African Affairs, and Special Presidential Envoy to Liberia. Other diplomatic postings held by Ambassador Jeter include those in Namibia, Lesotho, Tanzania, and Mozambique. Ambassador Jeter holds a BA in Political Science from Morehouse College, a MA in International Relations and Comparative Politics from Columbia University, and a MA in African Studies from UCLA. He is a member of Phi Beta Kappa, the American Foreign Service Association, and the Council on Foreign Relations. Ambassador Jeter is a former Chairman of the U.S. Export-Import Bank’s Advisory Committee on Africa and a member of the Board of Directors of Africare. For the past two years, Ambassador Jeter has served as Chair of the Selection Panel for the Rangel Fellowship Program, a collaborative program administered by the State Department and Howard University. Ambassador Jeter has received numerous awards and recognition for his work and service, including a Presidential Meritorious Award, State Department Superior Honor Awards, Senior Foreign Service Performance Awards, the Rainbow/Push Coalition International Peace and Justice Award, and the prestigious Bennie Trailblazer Award from Morehouse College.
Andrew Uzoigwe, Ph. D Dr. Uzoigwe retired from Nigerian National Petroleum Corporation (“NNPC”), in 2002, where he served as the Group Executive Director (Exploration & Production), from 1999 until 2002. Prior to that position he served as Managing Director of NNPC’s subsidiary companies, Warri Refining and Petrochemicals Company and Eleme Petrochemicals Company Ltd. During his long tenure at NNPC, Dr. Uzoigwe also held several senior technical and management positions including Chief Engineer and Project Coordinator (Petrochemicals), and Group General Manager (R&D Division), prior to becoming a Managing Director of NNPC’s subsidiary companies. He started his career with Dow Chemical Company where he held various senior positions in its Walnut Creek Research Center and in its Specialty Chemicals Facility in Pittsburg, California. Dr. Uzoigwe has also served on the Governing Boards of the Raw Material Research and Development Council and the National Emergency Management Agency. Dr. Uzoigwe is a Registered Professional Mechanical Engineer and a Registered Professional Chemical Engineer in the State of California. He is a fellow of the Nigerian Society of Chemical Engineers and a Fellow of the Polymer Institute of Nigeria. He holds a Bachelors of Science in Mechanical Engineering and an MBA from the University of California at Berkeley. He also holds a MS and a Doctorate in Petroleum/Chemical Engineering from Stanford University California.
Leslie Blair. Mr. Leslie Blair has over 35 years of upstream oil and gas industry experience principally in Asia and West Africa. From 1998 he was with the Addax Petroleum Corporation where he held several senior management positions including Managing Director, Middle East (based in Dubai), General Manager, Taq Taq Operating Company (based in Kurdistan, Iraq), and Executive Director Business Development (based in Nigeria). Mr. Blair played a big part in building Addax Petroleum into the largest independent oil company in Nigeria with production rising from 8,000 bopd to over 120,000 bopd in ten years. He was also instrumental in Addax Petroleum’s acquisition of interests in the Nigeria-Sao Tome and Principe Joint Development Zone as well as other interests in OPL 291 and the Okwok Field in Nigeria. Addax Petroleum was recently acquired by the Sinopec Group and Mr. Blair resigned his position in January 2010. Prior to joining Addax Petroleum, Mr. Blair was General Manager/Commercial Manager, Hardy Oil and Gas Company in India from 1996 to 1998. Prior to that he was based in Vietnam from 1989 to 1996 initially with Enterprise Oil plc, a major independent oil company based in Ho Chi Minh City, as Finance Manager and latterly as General Manager, British Gas Exploration and Production where he directed the upstream activities and together with a downstream British Gas/BP team produced the first National Gas Master Plan which was subsequently adopted by the Vietnamese Government. Mr. Blair is a fellow of the Chartered Association of Certified Accountants and he has a Master of Arts Degree in Economics and Finance from Aberdeen University, Scotland. Mr. Blair is being nominated to the Board for the first time.
8
--------------------------------------------------------------------------------
Friday Oviawe, CPA,. Mr. Friday is the Managing Partner/CEO of Jackson Friday CPA, LLC (“the Firm”). He has over 20 years of professional audit and accounting experience. The Firm is involved in providing tax, audit and accounting services to small and medium-sized companies. Prior to establishing the Firm, Mr. Oviawe worked at BDO, Seidman, LLP as a Senior Audit Manager in General Audit Services. Before joining BDO Seidman, Friday Oviawe was a Manager in the New York office of McGladrey & Pullen, LLP where he provided audit and business advice services to middle market companies in both the private and public sectors and not-for-profit organizations including A-133 Audits. Before joining McGladrey & Pullen, Mr. Oviawe spent over six years with Mitchell & Titus, LLP. At Mitchell & Titus, he provided audit and business services to fortune 500 companies as well as small and medium-sized companies. Mr. Oviawe is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants (AICPA). Mr. Oviawe is a Chartered Accountant as well as a Chartered Banker. In addition, he holds Bachelors and Masters Degrees in Finance. Mr. Oviawe is being nominated to the Board for the first time.
Peter Ntephe. Mr. Peter Ntephe has been the Chief Operating Officer and acting Chief Executive Officer of ERHC Energy from 2008. Mr. Ntephe has been involved in fundamental aspects of the Company's executive management since 2001, having joined initially as Corporate Secretary. His roles have included key participation in the negotiation, securing and maintenance of the Company's oil and gas interests in the Gulf of Guinea. As Chief Operating Officer and acting Chief Executive Officer, he oversees the executive management of ERHC Energy and its subsidiaries. He is responsible for ensuring that the group's strategic objectives are met. Mr. Ntephe has had a career spanning over 22 years, in the public and private sectors. Mr. Ntephe has a Master of Science degree from the University of Oxford. He also has three degrees in law (including one with a specialization in regulatory issues from the University of London) and a degree in management from Brunel University, London. Mr. Ntephe has taught Business Law as part of adjunct faculty in the Business School of the American Intercontinental University, London. Peter Ntephe is being nominated to the Board for the first time.
Sao Tome & Principe launches debut licence round
THE double-island state of Sao Tome & Principe off West Africa has launched its debut licensing round in its Exclusive Economic Zone (EEZ).
05 March 2010 02:02 GMT
Upstream Online [repost]
Luis Prazeres, executive director at the country’s National ?Petroleum Agency (NPA) announced the launch at Appex in London this week, following a ?recorded video message from Prime Minister Rafael Branco.
Prazeres said seven blocks will be offered — 1, 2, 3 and 6 in Zone A plus 7, 8 and 13 in Zone B — with data rooms due to open in London and in Sao Tome on 8 March. The licensing round’s closing date is 15 September, with successful bidders securing the right to negotiate production sharing contracts in which the state has a right to participate.
The NPA will accept offers from a company for more than one block in each zone but a company will only be awarded one block in each zone.
Excluded from the offering are blocks 4 and 5, located east of Principe, which have been granted to financially beleaguered Equator Exploration, and blocks 11 and 12, which the government has placed with Houston-based ERHC. These companies had first choice of the EEZ acreage under long standing agreements with the Sao Tome government.
However, the pair will still have to negotiate PSCs and bring in ?viable deep-water partners.
ERHC also claims rights to acquire up to a 15% paid working interest in two additional blocks of its choice in the EEZ.
Commenting on the results of Sinopec’s five-well wildcat programme carried out in the Joint Development Zone (JDZ) between Nigeria and Sao Tome, Prazeres said there were “several hydrocarbon discoveries” with gas found mainly in Block 2 and oil in some of the other blocks.
A meeting is understood to be taking place in the Nigerian capital Abuja this week with Sinopec and JDZ officials in attendance at which a decision will be made on whether the Chinese operator will push ahead with a second drilling campaign this year.
Published: 05 March 2010 02:02 GMT | Last updated: 05 March 2010 02:32 GMT
JDZ Bomu-1 Well
Sinopec, the operator, is completing the technical evaluation of the Bomu-1 discovery. In mid-March, the Company and the other participants are required to commit to a second well or to drop the block.
and we all should know ERHC + Partners will continue to develop the fields going forward !!!
We were in a very good position with rights that stretch across the area
Excellent News Brother Mark
7000 - 500,000 shares shorted daily ??? That must be an error
but 216k shares short today is a problem
did we attract the shorts on the big run up?
Do you show any shorts from Jan/Early Feb ?
Excellent !!! Krom - Thanks !!
glad to know all is fine on the chart
thanks Clay
I saw some small press nothing on the Big Wires yet that tagged our ticker symbol
but perhaps tomorrow
Sure would like to see some company PR Reiterate that the EEZ Round Commenced and tell the world again what we got
"I govern Sao Tome alone begins it negotiate the blocks of the Zone Económica Exclusive [EEZ]"
http://www.telanon.info/
Tuesday, 2 of March 2010
The announcement was deed this morning by the prime minister Rafael White in the official opening of the first oil blocks auction of the zone económica exclusive EEZ.
Until 15 of September of 2010, the oil-producing companies interested us 7 blocks of oil put in the market, simply should study the facts, and project the investment it be deed
ERHC Energy Explores Sub-Sahara Africa
03.02.2010
http://www.thisdayonline.com/nview.php?id=167608
ERHC Energy Incorporated, a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of West Africa, is set to expand from the Sub-Sahara to Cape Town. In the just concluded Nigeria Oil and Gas Conference held in Abuja, Ejiofor Alike spoke with key officials of the company.
ERHC Energy Incorporated, a Houston-based independent oil and gas company, which focuses on growth through high impact exploration in the highly prospective Gulf of Guinea and the development of undeveloped and marginal oil and gas fields, is positioning itself to tap the huge potentials in Nigeria and the entire Africa.
The company's Chief Operating Officer (COO), Mr. Peter Ntephe, said despite the heavy presence of other investors, the opportunities available in Nigeria are still very enormous. He noted that the company had commenced discussions with several operators on areas of possible collaboration with ERHC Energy.
Ntepehe stated that ERHC Energy, which he described as “an American company with Nigerian face” is not an Exploration and Production (E&P) company but an energy investment company.
“Our business model is non-operator model. We are an energy investment company. Our policy is to develop opportunities and bring in financial expertise to harness these opportunities. That is what we did in the Joint Development Zone (JDZ) owned by Nigeria and the Sao Tome & Principe. We go into Greenfield areas that have never been touched and explore opportunities for E & P companies to come in,” he said
Ntephe disclosed that opportunities abound in Nigeria for E&P companies but access to international capital is a major challenge.
Being a company listed in America, ERHC Energy, he said has big advantages over others in terms of access to international financing.
“We are publicly listed. So, we can raise funds; the operators can also carry our costs and recover it from production like in the JDZ,” he said.
He disclosed the company had not considered the possibility of listing in the Nigerian Stock Exchange (NSE), adding that as soon as it concluded the process of listing in the Alternative Investment Market (AIM) of the London Stock Exchange, the next target is the Johannesburg Stock Exchange.
“We are publicly listed in the United States. We now want to get into London. After London, what is on the pipeline is Johannesburg. As soon as we finish with London, the next target is Johannesburg. South Africa is a little bit advanced than Nigeria,” he added.
Ntephe described ERHC Energy as “a visionary oil and gas company that sees opportunities before others and relishes the challenge of realising the value of the hard work of our leadership and staff.”
He disclosed that the company is “currently focused on exploiting its assets- rights to working interests in oil and gas reserves in the Gulf of Guinea offshore central West Africa”.
He said during the past two years, ERHC has formed strong alliances with Addax Petroleum and Sinopec Corporation, both of which are experienced exploration and production companies.
“In August 2009, Addax and Sinopec began a coordinated exploratory drilling campaign encompassing JDZ Blocks 2, 3 and 4. A total of five wells are being drilled during the initiative,” he said.
“Additionally, in Sao Tome & Principe's Exclusive Economic Zone (EEZ), ERHC's rights to participate in exploration and production activities include the right to receive up to two blocks of ERHC's choice and the option to acquire up to a 15 per cent paid working interest in another two blocks of ERHC's choice. The Company would be responsible for its proportionate share of exploration and exploitation costs in the EEZ blocks,' Ntephe added.
He said the company is also “working to diversify its holdings and build upon its assets in the Gulf of Guinea through a carefully executed acquisition strategy aimed at viable revenue producing properties.”
On insinuations that the results of the exploratory drilling in the JDZ have not been encouraging, the COO argued that it was premature to arrive at such conclusion.
He said: “It is premature, especially as the results have not been released; to talk about not meeting expectations. The kind of analysis being done on the results is composite analysis of all the blocks and not on individual basis. What we just finished is the first exploratory phase. Let us look at the results first before judging the performance.”
He stated the Exclusive Economic Zone (EEZ) belonging to Sao Tome & Principe contains world class wells in the Gulf of Guinea, stressing that the chances of availability of high exploratory wells are high in Sao Tome.
Ntephe noted that ERHC Energy was the first company to go to the area in 1990s to talk about oil, adding that the company has a commitment spanning for over 15 years and that it was enthusiastic about it.
Ambassador Jetter on his part said he was attracted into the board of the company because of what they were doing and what they have done.
He said: “I actually retired from the United States government shortly after leaving Nigeria in 2003. So, I am now a private person with other interests. When I was asked to
join the board of ERHC, I did my due diligence and I was impressed by what they were doing and what they have done. You know, it is a company exploring opportunities in the oil and gas industry.”
The former diplomat stressed that ERHC Energy also supports local content.
“I have been on the board for almost four years. The company has a vision. As you know, it has very significant interests in the JDZ. ERHC get involved in the JDZ when others wouldn't do it. This shows what local companies that believes in country where they are can do. But ERHC is an American company. It is incorporated in Colorado ; it is a public company,” he added.
The Ambassador noted that the company had done a very good job in terms of their involvement in the JDZ.
“Now, the next phase of development is essentially to look for other opportunities in West African sub-region, particularly here in Nigeria ,” he said.
He said the company's vision is to “maximise shareholder value through exploitation of its rights and working interest in exploration acreage offshore central West Africa ” while its mission is “sustainable and profitable growth through risk-balanced exploration, cost efficient development and high margin production”.
ERHC Energy's Vice President in charge of Corporate Development, Mr. David Bovell, said the company's deepwater will come on production between 2015 and 2020.
“We don't only see ourselves as Nigerian but also sub-Saharan African. Our target is to expand from the sub-Sahara to Cape Town ,” he said.
The company was among American companies investigated by the United States Government but its Chief Financial Officer, Mr. Syvan Odobulu, a Nigerian confirmed to THISDAY that United States Federal investigators had returned all the documents taken from its corporate headquarters in May 2006.
A total of 106 boxes containing original archival records from the company's inception until 2006 have been returned were returned.
It was gathered that the return of all the documents was an indication that the company was not involved in any corrupt practices and had been given a clean bill of health.
ERHC recently announced that the National Petroleum Agency of São Tomé & Príncipe on behalf of the Government of São Tomé and Principe had awarded it 100 per cent working interests in Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ).
The confirmation of the award follows ERHC's exercise of rights arising from prior agreements between ERHC and São Tomé & Príncipe.
The National Petroleum Agency had also indicated that it expected to invite ERHC to negotiate Production Sharing Contracts (PSCs) on the two Blocks in due course.
The São Tomé & Príncipe EEZ encompasses an area of approximately 160,000 square kilometers south and east of the Nigeria/São Tomé & Príncipe Joint Development Zone and surrounding the volcanic islands of Príncipe and São Tomé.
Block 4 is situated directly east of the island of Principe , while Block 11 is directly east of the island of Sao Tome .
ERHC was among the first companies to identify the possibility of significant oil and/or natural gas reserves offshore of São Tomé & Príncipe and has been active in the area since 1997.
In addition to the two Blocks already awarded, ERHC has rights to acquire up to a 15 per cent paid working interest in two additional blocks of its choice in the EEZ. The ANP-STP has informed the Company that selection of these other blocks will take place at a later date to be determined.
The company had disclosed it was pursuing potential acquisitions in the West African oil and gas industry and firming up plans for listing a subsidiary on the Alternative Investment Market (AIM) of the London Stock Exchange with the guidance of its Corporate Finance Advisors, Strand Hanson.
The company has interests in six of the nine Blocks in the offshore Nigeria-São Tomé & Príncipe JDZ. The Company has additional interests in the EEZ of the Democratic Republic of São Tomé & Príncipe.
The company has constantly reiterated its commitment to creating and delivering significant value for its shareholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production.
ERHC Energy Milestones
In 1996, ERHC, which began operations as an environmental remediation company, began operating solely as an independent oil and gas company, according to information in the company's website.
In May 1997, ERHC formed an exclusive joint venture with São Tomé & Príncipe, a decision, the company took “because it identified the possibility of significant reserves offshore of Sao Tome & Principe years before anyone else did and was willing to undertake the hard work necessary to realize the value of these assets.”
The governments of Sao Tome & Principe and Nigeria reached an agreement in 2001 over a long-standing maritime border dispute, with the establishment of the Joint Development Zone to govern commercial activities within the disputed boundaries.
ERHC was awarded exploration and production rights in the EEZ and the JDZ on May 21, 2001.
ERHC and Sao Tome & Principe signed an Option Agreement in which ERHC relinquished certain financial interests in the JDZ in exchange for exploration rights in the same area in April 2003.
The company sold participation interests in JDZ Blocks 2, 3 and 4 to establish relationships with experienced exploration and production companies and stabilise the company's financial position.
This transaction took place in late 2005 and early 2006 and on November 17, 2005, ERHC agreed to sell a participating interest in Block 4 of the JDZ to Addax Petroleum, a transaction, which was completed in February 2006.
The company sold a participating interest in Block 3 of the JDZ to Addax Petroleum on February 16, 2006.
On March 2, 2006, the Company sold participating interests in Block 2 of the JDZ to Sinopec and Addax.
ERHC signed Production Sharing Contract (PSC) for JDZ Blocks 2, 3 and 4 in early 2006 and on March 14, 2006, ERHC signed a PSC with Addax Petroleum, several oil and gas companies, and the Joint Development Authority (JDA) to conduct petroleum operations in Block 3 and 4 of the JDZ.
On March 15, 2006, ERHC signed a PSC with Sinopec, Addax, several oil and gas companies and the JDA to conduct petroleum operations in Block 2 of the JDZ.
The company works closely with its consortium partners, Addax Petroleum and Sinopec Corporation, which began a coordinated exploratory drilling campaign that stretched across JDZ Blocks 2, 3 and 4 in Ausgust 2009 where a total of five wells were drilled.
Sinopec Corporation drilled the Bomu-1 well in JDZ Block 2, in which ERHC has a 22 percent interest and in JDZ Block 3, in which ERHC has a 10 percent interest, Addax Petroleum drilled the Lemba-1 well.
In JDZ Block 4, in which ERHC has a 19.5 percent interest, Addax Petroleum has drilled three wells - Kina-1, Malanza-1 and Oki East.
“The purpose of this process is to test scientific conclusions and gather additional information. To that end, a detailed evaluation of information from the five wells is underway, but at this point we cannot draw any conclusions regarding the extent and quality of the hydrocarbon systems encountered,” the company said.
Mazel Tov - thanks Homeport
Tomorrow could be exciting with some ERHC Sparks flying [long overdue]
Anyone remember what happened to our share price the day we were one the Front Page of the LA Times
we tripled ....
Stay tuned .....
Maybe the WSJ or NY Times have some room for us ,...
[Ooh to Dream]
Great Photos of the Team !!
thanks Homeport - I think
I will give Oily the benefit of the doubt
just don't enjoy the games / riddles, I do think he knows something good is coming
WILL WE EVER SEE $1 !!!!!
Fingers Crossed
FYI Dan K updated ERHC Group on Facebook
http://tinyurl.com/yd3gmtp
Oilphant "Big O lets go of 2/3 ERHE to the Star"
Very Nice - Thx for Sharing Mark
the Price action is confirming good things too
a major 40% move up last week and
still holding and gaining!!
Shaping up for Super Tuesday ...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47175686
here ya go .. EEZ "Super Tuesday Coming Up" !!!
a] Oil Ministers of Sao Tome to Launch 1st Ever EEZ Lic Round
from both London and STP [ look for Dow Jones News and Reuters ]
***Based on past Licensing Rounds - the International News Media should be all over this story... One of Africa's and [the World's] Poorest Country launching this first Oil Block Round after 13 years of planning, that could potentially bring in $100's of Millions in Sig. Bonuses not to mention Billions of Tax Revenues down the road***
b] Sao Tome to tell the WORLD how much potential oil is in EEZ
[4 to 11+ Billion Barrels ????]
***should be in the selling packages to potential bidders***
c] Acknowledge ERHC's 2 x 100% Blocks and potentially thank ERHC for helping to create the STP framework years ago
***they just did and should do again see... http://www.telanon.info/economia/2010/02/26/2694/sao-tome-e-principe-vai-leiloar-em-londres-7-blocos-de-petroleo/#more-2694
then
click the LINK "comunicado-de-imprensa-leilao.doc" and
then go to http://www.freetranslation.com/
d] Provide JDZ results and say how Sinopec plan to develop the zone going forward for potential commerciality
***the JDA told Mark Results should be coming and others have confirmed***
e] possible Sinopec EEZ Involvement or / Sinopec & ERHC Combination to be announced in EEZ
???
***I said possible ***
http://www.telanon.info/economia/2010/02/26/2694/sao-tome-e-principe-vai-leiloar-em-londres-7-blocos-de-petroleo/#more-2694
Tranlation
They are Tomé and Prince is going to auction in London 7 blocks of oil
The delegation are-tomense that is going to open the first oil blocks auction of the Zone Económica Exclusive, is composed by the Executive Director of the National Agency of Oil Luis of him you Will Please and by the Minister of the Natural Resources Energy and Environment Xavier Mendes.
In the near Tuesday March 2 , London receives the international auction, event that will elapse in simultaneous in the Saint capital Tomé, where the Prime Minister Rafael White will do the opening of the public contest of the 7 blocks it will be auctioned. The community of the National Agency of Oil, that arrived the editing of the Téla Nón, gives more details.
More Details
ANP-STP / National Petroleum of Sao Tome and Principe
National Agency of the Oil has the grateful one please of inform that in the scope of the preparations with an aim to achievement of the 1st auction of Blocks of the Zone Económica Exclusive EEZ,
the companies Equator Exploration and ERHC exercised the right of preference and of option, previously to the launching of the 1º auction of the Zone Económica Exclusive, having selected for the effect the. Equator Exploration Block 5 (Zone A) and Block 12 (Zone B) ERHC Block 4 (Zone A) and Block 11 (Zone B) The rights of preference and of option of these companies insert itself in the chart of the agreements celebrated with the State santomense; with the ERHC in 1997 and renegociados in 2001 and 2003 and with Equator Exploration in 2001 and renegociado in 2003.
The Blocks seleccionados are subjects to Output obeying rigorously to the program of work it to be negotiated and to the light of the
legislation in force. 2 - it having been resolved the question of the rights acquired as establish them referred agreements,
the Government selected the following seven (7) Blocks like offering of Auction: Zone TO Blocks 1, 2, 3 and 6 Zone B Blocks 7, 8 and 13 3- THE Opening of the Auction will be in the day 02 March of 2010 and closing in the day 15 of September 2010.
4 – For more information about the 1st auction of Blocks of the EEZ, consult www.stp-eez.com/ 5
Luís Alberto
Executive Director
d is from Mark's correspondence with the JDA and
other "Direct" Sources that confirmed / agree with what the JDA have said as to the time frame of release of JDZ results
e is listed as "possible" only
More EEZ Details http://www.stp-eez.com/
ANP-STP / National Petroleum of Sao Tome and Principe
http://www.stp-eez.com/Posters.htm
National Agency of the Oil has the grateful one please of inform that in the scope of the preparations with an aim to achievement of the 1st auction of Blocks of the Zone Económica Exclusive EEZ,
the companies Equator Exploration and ERHC exercised the right of preference and of option, previously to the launching of the 1st auction of the Zone Económica Exclusive EEZ, having selected for the effect the Equator Exploration Block 5 (Zone A) and Block 12 (Zone
B) ERHC Block 4 (Zone A) and Block 11 (Zone B)
The rights of preference and of option of these companies insert itself in the chart of the agreements celebrated with the State Santomense; with the ERHC in 1997 and renegotiations in 2001 and 2003 and with Equator Exploration in 2001 and renegotiation in 2003.
The Blocks selections are subjects to Output obeying rigorously to the program of work it to be negotiated and to the light of the
legislation in force. 2 - it having been resolved the question of the rights acquired as establish them referred agreements,
the Government selected the following seven (7) Blocks like offering of Auction: Zone TO Blocks 1, 2, 3 and 6 Zone B Blocks 7, 8 and 13 3- THE Opening of the Auction will be in the day 02 March of 2010 and closing in the day 15 of September 2010.
4 – For more information about the 1st auction of Blocks of the EEZ, consult http://www.stp-eez.com/
Luís Alberto C. Executive Director
EEZ "Super Tuesday Coming Up" !!!
a] Oil Ministers of Sao Tome to Launch 1st Ever EEZ Lic Round
from both London and STP [ look for Dow Jones News and Reuters ]
b] Sao Tome to tell the WORLD how much potential oil is in EEZ
[4 to 11+ Billion Barrels ????]
c] Acknowledge ERHC's 2 x 100% Blocks and potentially thank ERHC for helping to create the STP framework years ago
d] Provide results JDZ is and say how Sinopec plan to develop the zone going forward for potential commerciality
e] possible Sinopec EEZ Involvement or / Sinopec & ERHC Combination to be announced in EEZ
???
http://www.telanon.info/economia/2010/02/26/2694/sao-tome-e-principe-vai-leiloar-em-londres-7-blocos-de-petroleo/#more-2694
Tranlation
They are Tomé and Prince is going to auction in London 7 blocks of oil
The delegation are-tomense that is going to open the first oil blocks auction of the Zone Económica Exclusive, is composed by the Executive Director of the National Agency of Oil Luis of him you Will Please and by the Minister of the Natural Resources Energy and Environment Xavier Mendes.
In the near Tuesday March 2 , London receives the international auction, event that will elapse in simultaneous in the Saint capital Tomé, where the Prime Minister Rafael White will do the opening of the public contest of the 7 blocks it will be auctioned. The community of the National Agency of Oil, that arrived the editing of the Téla Nón, gives more details.
More Details
ANP-STP / National Petroleum of Sao Tome and Principe
National Agency of the Oil has the grateful one please of inform that in the scope of the preparations with an aim to achievement of the 1st auction of Blocks of the Zone Económica Exclusive EEZ,
the companies Equator Exploration and ERHC exercised the right of preference and of option, previously to the launching of the 1º auction of the Zone Económica Exclusive, having selected for the effect the. Equator Exploration Block 5 (Zone A) and Block 12 (Zone B) ERHC Block 4 (Zone A) and Block 11 (Zone B) The rights of preference and of option of these companies insert itself in the chart of the agreements celebrated with the State santomense; with the ERHC in 1997 and renegociados in 2001 and 2003 and with Equator Exploration in 2001 and renegociado in 2003.
The Blocks seleccionados are subjects to Output obeying rigorously to the program of work it to be negotiated and to the light of the
legislation in force. 2 - it having been resolved the question of the rights acquired as establish them referred agreements,
the Government selected the following seven (7) Blocks like offering of Auction: Zone TO Blocks 1, 2, 3 and 6 Zone B Blocks 7, 8 and 13 3- THE Opening of the Auction will be in the day 02 March of 2010 and closing in the day 15 of September 2010.
4 – For more information about the 1st auction of Blocks of the EEZ, consult www.stp-eez.com 5
Luís Alberto C.PLEASE Executive Director
Agree 6+ Million Shares Traded in 3 Days after days of 100,000 Vol days no way - Much more to it
FYI
Mark in addition to the SEDCO Rig surprise - was also the First to announce Sinopec replaced Pioneer as well as many many other exclusives announced on iHub
And
I have been on a Conf. Call w/him to the JDA in Nigeria
His sources are real and do exist
his last correspondence stated the JDA source was extremely excited about the release of the JDZ Results this week coming and confirmed / hinted at a Sinopec ERHC Combination of sorts was being tossed around
Excellent !!
thx Clay looks good - Final thought ...
who here thinks the announcing of the First Ever Sao Tome EEZ Lic Round [after 10 Frigg'n years] will be launched with anything but POSITIVE and ENCOURAGING JDZ results ....
The JDZ will continue to be explored and developed [no Doubt] ...
These 2 events being announced at the same time are NOT a coincidence
[its the same group of oil Ministers]
its all good
enjoy
Oilhound Dana has only a tiny % in one block
we have rights in 3/4 drilled so far and our partner Sinopec has ownership has in all 4/4
One well wont cut it for them
however if you tie in the whole area like Sinopec has then you have a massive field worthy of development
Plus our other JDZ and newly AWARDED 2 100% EEZ rights are Huge and no one really knows the true value there yet
have a feeling we will soon and its $$$ BIG $$$ ,,,
SEO didnt come all this way for no $.68 cents
$6.80 maybe
True ERHC is in a much different position than a small percentage holder with rights in only one Block.
WE HAVE Much Greater Acerage across more property than them
and if there was nothing of value we'd be at $0.10 pretty quick
look forward to hearing great news next week
Sneak the Report says Jan 2010 ???
please clarify
50,000 at .69 !!!! Giddy up
WOW !!!
funny, decent close considering a 40% up day yest. Held the gains
sellers are content, buyers took a pause waiting for more news and developments
$0.72 Coming up
BMAS appears to be short
ABLE is making BMAS pay up
Been too long a journey but it WILL BE WORTH IT if Mark's or Balance's Price Targets are close
Mark $3-4
BB $8-10
Oilphant says ERHC Shareholders will be happy
SEO - the ultimate Deal maker
Bring it on
US The ERHC FAMILY have only had crumbs the last 10 years
how about the full meal already - cause we are starving
the 2 recently awarded EEZ Blocks are massive and really are the cornerstone of ERHC since 1997 - these rights NEVER WAIVERED through all the talks and negotiations and were recently perfected [awarded] which was somewhat overlooked by many here
look for BIG VOLUME to confirm the [above]
OILPHANT **** $0.92 today **** You Rock !!!!
Dan K Updated ERHC Group on Facebook .....
http://www.facebook.com/home.php?#!/group.php?v=wall&ref=nf&gid=13968724060
OILPHANT "ERHC shareholders will all be happy.
The deal is that good!"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47031629
Posted by: oilphant Date: Wednesday, February 24, 2010 1:23:19 PM
In reply to: None Post # of 10126
Sinopec, BP Talk for Shale Gas [re-post]
BP 53.61 +0.39
CHK 26.52 +0.22
PTR 111.85 +0.96
SNP 75.86 +0.84
By Zacks Equity Research , On Tuesday January 19, 2010, 12:46 pm EST
Sinopec (NYSE: SNP - News), the Chinese oil giant, is in talks over a possible collaboration with BP plc (NYSE: BP - News) in shale gas development. This discussion follows the finalization of a deal between Royal Dutch Shell (AMEX: RDS - News) and PetroChina (NYSE: PTR - News) during last November to jointly develop shale gas resources in southwest China.
For this project, Sinopec has charted a total of 3,000 square kilometers, including 2,000 square kilometers in southwestern China and 1,000 square kilometers in eastern China. To tap these resources, China is seeking foreign expertise.
For shale gas development, a huge amount of water along with chemicals is needed to be pumped into the ground at high pressure to break up the rock. Following the accomplishment of two deals with Chesapeake Energy (NYSE: CHK - News) in 2008, BP has been gaining expertise in this relatively new area with an eye toward transferring the technology overseas as well.
We think that these shale gas transactions will have a twofold positive outcome. They will open new opportunities to increase potential reserves for companies such as Shell and BP, who have been struggling for quite some time to add numbers to their reserve bases. On the other side, these transactions will help China reduce its reliance on coal.
CHINA PETROLEUM & CHEMICL CO (SNP): Read the Full Research Report
ROYAL DUTCH SHELL PLC (RDS.A): Read the Full Research Report
PETROCHINA COMPANY LIMITED (PTR): Read the Full Research Report
CHESAPEAKE ENERGY CORP (CHK): Read the Full Research Report
Zacks Investment Research
MM - ABLE pushing up the action for past several weeks - remains BEST BID
Oilphant - Bravo - you are almost 1/2 way there on VOL and Price at 11 am - nice call ...
looks to MOVE HIGHER too !!!
What did you mean you would not want to be SHORT erhe
How high are we going ?
Awesome !! Finally