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.
thanks ruby- it's good to get some news for a change
addax acquisition
http://tinyurl.com/hoxsw
well- bought more yesterday at 44 centavos- kinda cheap
strass- anadarko is buyin kerr mcgee and western gas- $23 billion cash transaction
bought more at 45 centavos- a little premature-lol!!
suadis admit oil field output decline
711. Saudi Arabia struggles to maintain production
Saudi Aramco admits that the natural decline of its old fields is now running at 8% a year. Infill drilling
can of course help offset the decline but it is a losing battle. Overall it begins to sound as if Saudi Arabia has
passed its Peak (see Item 713 below for a re-evaluation of this country).
Saudi Aramco's mature crude oil fields are expected to decline at a gross average rate of 8%/year without
additional maintenance and drilling, a Saudi Aramco spokesman said Tuesday.
But Saudi Aramco has taken a number of measures to offset a decline in output from the country's
aging oil fields, the spokesman added. "A variety of remedial activities are always being taken in oil
fields influencing their effective decline rates," the spokesman said. "The drilling of additional
development wells in the producing fields is Saudi Aramco's standard practice to offset normal declines
of older wells."
This is particularly important when oil fields are progressively depleted under a well thought out
strategy of maximizing the sweep and displacement efficiencies, leading to high ultimate oil recovery, the
spokesman said.
"This maintain potential drilling in mature fields combined with a multitude of remedial actions and
the development of new fields, with long plateau lives, lowers the composite decline rate of producing
fields to around 2%," the spokesman said.
Underscoring these efforts, Saudi Aramco signed two contracts with J. Ray McDermott Middle East
and McDermott Arabia Company Ltd, subsidiaries of J. Ray McDermott, to detail design, procure,
fabricate, transport and install offshore facilities for the Maintain Potential and Khursaniyah Upstream
got more at 59 cents- thanks cvx!!-lol!!
erhe financials
http://finance.yahoo.com/q/is?s=erhee.ob
bought more at 55 centavos- kinda cheap
wow!! got more at 65 centavos- that's low ball!!
picked up shares at 70 centavos- kinda cheap
picked up some more at 75 centavos- kinda cheap
got lucky- managed to buy some at 73.7- lol!!
well 77 cents didn't last long- now 81-lol!!
picked up more shares at 77.5 centavos- kinda cheap
thanks bb- maybe a press release is in order?
basic question- have the signature bonuses been paid?
well dirac- silence is telling- cvx has a big discovery and it's obvious that it extends into block 2
it's no surprise that cvx doesn't want details of their discovery out- they need an interest in block 2 first-lol!!
headline in 2010- erhe makes a billion dollars- sao tome says block award decisions were flawed!
if cvx hit a lot of oil in block 1 and it extends into block 2- you can bet that they will end up witha percentage of block 2
money talks meridian- nigerians like money
if the US majors come up with a good deal- the nigerians will take it- end of story
where do the MM's get the shares??- there are people who look at the bullish erhe chart and buy at 90 cents and sell at 95 cents- they never look at the co itself
thanks tqs- poor guy had what? @ 80,000 shares at one time- more than me- i used that as a target and eventually passed it- lol!!
makes no sense to me- joe shea says he was forced to sell his erhe shares after they went up cause he bought on margin- a margin call after a security goes up??
i have a hard time believing cvx will not pick up additional interests- especially if as everyone says- they have a mammoth oil discovery- if i were cvx and xom , i would buy addax and conoil outright
lunch crowd sold me more at 79 cents-lol!!
hey shorters- i feel your pain!!!lol!!!
erhe 54 cents- way to go
red- the kid's next pick
http://biz.yahoo.com/bw/060123/20060123005602.html?.v=1
i think anadarko will finally get their way- probably operatorship of block 2- only way psc's get signed right away
usual skulduggery in nigeria- looks like pxd got tired of carrying all those nigerian indies- offor will have to pull a rabbit out of his hat again- don't look for psc's to get signed for a while after this
right nh- erhe char tis very bullish
ok pup- thanks- i didn't know equator was offering the rig to pxd
equator isn't the operator for block 2 anyway so why would they be drilling?
a billion barrels of oil is worth $70 billion in today's market- with 700 million shares outstanding- one billion barrels of oil would equate to $100/share to each share of erhe
to a certain extent, the nigerian govt is distracted right now by various rebel activities- i''m sure of two things however, one, the nigerians aren't going to change anything re: the second round bid and two,pressure will be applied soon to bring the stp contingent to the table
that ag report isn't worth the paper it's written on- nigeria doesn't care about it and neither do i