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.
Ftc, yours was a good post. "Not quite" refers to some of the info being more recent than a few months as some of the wells were completed more recently.
Ftc, you had a good and helpful post. The "not quite" refers to some of the info in the FAQ would not have been available months ago, as some of the wels have only been completed more recently.
You are probably correct that posts and Emails to ERHC from shareholders did encourage ERHC to release the information.
Not quite ftc. The earlier PR on block 2, Bomu, stated only gas.
As Longtimer points out the current FAQ states oil and gas, plus the "accelerated" future drill schedule.
Most people who sold were probably overextended and hoped for, expected quick definite news of major oil.
ERHC Longtimer - good DD.
Digdeep, I feel my posts in question were rather clearcut and self-explanatory.
Perhaps you ought to re-read them.
Happy Holidays and a Happy New year to you and yours.
OT: Nigerian youth terrorist
Apparently the faher of the youth, a prominent banker in Nigeria, went to the US Consul in Nigeria four weeks ago to warn US authorities that he thought his son had come under the influence of Al Queda and was traveling to Yemen. The youth was put on an international suspected terrorist list but was not given no fly status nor was his visa to visit the US revoked.
What I don't understand is why he was not individualy searched before he was allowed to board a plane to the United States. How much warning does the United States Intelligence Community and Homeland Security need before taking preventative actions?
I have heard of innocent people being taken to interrogation rooms at airpots for no real reason.
It is just amazing. It reminds me of the security oversights that allowed 911 to occur.
Yes, excellent DD. We are being kept updated.
Hey Balance, I know you are and always were a devoted long of ERHC.
Almost six years ago you encouraged me to add to my shares of ERHC and I did.
And we have shared Emails about Barry Morgan and other people over the years, though not too much recently.
HAPPY HOLIDAYS AND A PROSPEROUS NEW YEAR.
(As you can read, I just don't agree with the double ended contents of a lot of your recent posts or repetitive crtiques of ERHC officials. I do accept that they are not perfect.)
Good regards,
Art
ewing, you don't have to choose me at all. I'm not runing for office. lol However, there will conitnue to be diverse opinions on this message board.
I agree with Balance that we don't have top rung oil executives at the CEO level etc. of ERHC.
But that is not why I bought my ERHC shares.
There are other reality factors in place.
For a three person managment company ERHC has done quite well and now is looking to purchase oil and revenue producing poperties in Nigeria.
I also accept that there could be corruption and political favoritism in Nigeria. But Nigeria does not want a US ERHC oil executive cooperating with probes into how Nigerians run their country.
If someone would have probed into the no bid contracts awarded to the company Vice-President Cheney was a former CEO of, there could have been problems for that company.
Actually under the Obama administration I would not be at all surprised to see investigations opened up about Exxon and the public ongoing bribery with Equatorial Guinea that could also include other US oil companies.
I do think Balance has divided thoughts about ERHC and that is OK, but I do not enjoy reading continuing critiques of ERHC in the same posts as near term predictions for great financial gains from owning ERHC.
To me those are "funny" posts and I could use more clinical psychological terms.
Not a good day for me to defend Nigerian ownership of ERHC re: current news events. But we can't overgeneralize to all Nigerians.
And then there is always Dan Keeney and Dan Gralla. lol
The bottom line is that hopefully we hear good news soon about the results of drilling in our JDZ blocks.
All the rest is just fluff.
Balance, when are you going to stop posting posts that say:
1. greast events are gong to happen soon with ERHC
but
2. The management of ERHC is totally incompetent.
Then the great events don't happen as you predicted and the SP of ERHC goes down as your "fans" are disappointed.
Don't you comprehend the inconsistency of such posts?
ERHC is not totally incompetent or else
1. we would not have continued to hold on to our partners and have the ongong drilling in three of our blocks.
2. ERHC would not have been able to hold on to the EEZ rights.
We all know that ERHC is not a blue chip company with top oil executives. It has always been a speculative buy.
Don't you think that the majority Nigerian ownership thought that the Anglo oil executive CEO may have over cooperated with the FBI raid and investigation of ERHC. And this majority ownership continues to prefer keeping an "interim" Nigerian CEO.
At present this is a fact of life with ERHC.
Kindly accept that fact or just sell your shares.
ssc, Chevron has said all along that if they were a smaller oil company that they well could consider Obo-1 to be commercial, but with all the other oil properties they have all over the globe, they put Obo on the back burner.
Apparently the consensus among oil business related people on the board and in other DD posts is that resources in the JDZ do exist for other AKPO type mixed gas, condensate and oil developments.
This could be a present and a long term prediction.
Merry Christmas, Happy Holidays and an Happy and Healthy New Year to all.
Art
Good DD ERHC LT.Pup's contacts are on holiday....
Krom, IMHO Sasol and Chevron have some kind of agreements.
Yes, thank you. I do agree about Peter this month.
He was responding to a personal Email from me, which I took the liberty of posting a portion. He probably will post an update within in few days.
Why can't you understand that? lol
Zebra, 12/17/09. I usually don't post his Emails, but the tone of the board and the SP have not been postive today.
I am hoping for a post from Pup this week or next.
Regards,
Art
More from Pup's Email.
"Based on the information I have... I'm still here... same as the past six years... I hope to have an update next week..."
Part of my recent Email from Pup:
Hey Art - Addax is seriously vested in their position in West Africa. That is why the are looking for rigs. From an exploration stand point; the JDZ represents their greatest potential growth for the additon of new reserves. It is exploration, but considering the general acknowlegement that the AKPO field does not end at the countries boundry lines; warrants attraction to all explorers. Not including the EEZ value as a partner, to Addax, with our little minnow. Geologist within Petrobras have stated, "look at the puzzle"... This is complicated to explain, but visible..."
Assuming we are getting AKPO type results, that kind of data does take a long time to analyze and report on. AKPO is a complex, mixed field, though now quite profitable.
emydal, really appreciate your DD. lol
Emydal, IMHO, no as the head of the National Petroleum Agency for one of the two host countries of the JDZ, I don't think he would have the same feeling of responsibility for secrecy to the operators that an executive of ERHC, a JV partner, would have.
This is partularlry true, for me, as STP is preparing for their own EEZ block auctions.
OK, good.
Art
Emydal, Prazeres is the Oil Minister for STP and a member of the JMC or Joint Ministers Council for the JDZ which has power over the JDA. Of course he has been briefed!
It's possible we'll have an update from Pup next week.
He continues to be a long. LOL
Krom, I stand corrected. The second paper in particular attempts to define possible reservoir characteristics.
Hence, the information of the papers added together with all the other studies of ocean floor geology and correlated with actual discoveries will add to the interpretaion and prediction of seismic data for the presence of oil.
Krombacher, allow me to give my interpretation of what these scientists are studying.
They are earth geologists who are actually interested in studying the structure of the earth's crust. In these papers they are studying the design and shape of sructures on the botttom of the ocean, particularly the fault lines.
IMHO they have no interest in oil content. They used the JDZ seismic data because their Univesity does not have the money or resources to go out and start mapping the bottom of the oceans.
I'll bet that other geologists have used seismic studies by major oil companies to research and report on geologic formations on the bottom of the earth's oceans, too.
From Dan Keeney: New intertview with Peter Netphe.
Published in "The Energia Today".
http://energiatoday.com/interviews.php
IMHO The JDA will be pressuring the companies to release aspects of their well analyses by the end of January.
Heard from PUP.
I don't have anything new at this time... Drilling results in an exploration field are always kept close to heart. It is both strategic and competitive. I would expect nothing less here. The JDA have direct observation rights on all information. They are getting real-time drilling results as well as lab results.... That's what we saw this weekend and it was entirely within their rights to do so.... It's also could be considered official even though it was vague; vague in a positive sense.
Sounds to me that Peter would like to do the offshore rights deal to generate revenue for ERHC, but what does Oily know?
Oilphant your're not wearing your "pumps" this evenig, but you sound so poetic. Sigh
At the CC, I asked a question about the data from a Quest Offshore table be that showed FLNG opportunities in the GOG, posted by ERHCLongtimer.
Dan Gralla responded that he could not comment because he had not seen the data, though I had forwarded them to Dan Keeney, last week.
Dan explained that he had not forwarded the data to Dan Gralla. After a back and forth, Dan K. did show the Emailed data to Dan G. who wondered about the source.
Dan Keeney then sent me the following Email:
"Art:
I have spoken with John Chatterton, the CEO of Quest Offshore. He clarified that the information you have cited comes from their team’s tracking of events and NOT from Addax Petroleum. This data reflects his team’s expectation, based on the information publicly available. It is not based on any actions by Addax."
As discussed a couple of weeks ago re: a post by Pup, Addax could be looking for six floaters or some FLNG's and an FSPO, but according to the Quest data they are opportunities and Addax has not publicly ordered any.
Pete, the JDA and STP do not feel that they are beholden to the operators re: release of info. The JDA had a conference with the operators over the weeknd.
The STP oil minister released his interpetation of what he had heard.
The JDA are not JV partners. They own and lease the blocks to the operators.
Drilling, data analyses, and geologic modeling are all ongoing...we can not expect definitive results and predictions before that is completed.
And the real result reports will come from the operators, not ERHC.
Our board "sources" are going to continue to be more revealing than ERHC and for now we can assume that is a constant.
I'm a little annoyed that Dan Keeney did not forward the ERHCLongtimer post to ERHC offices as I had requested last week.
Excellent, so that even if ERHC does not disclose too much during the CC, other official sources are starting to disclose approximate results of the JDZ drilling.
Rambus, this sounds very good to me. Excellent find.
Thanks to Homeport, too. I was out all day, catching up on posts.
Julius, thank you for your response. Condensate then is a lot closer to being oil than LNG.
To take it one step futher. When AKPO reports numbers of barrels of oil produced, could one assume that much at that "oil" was actually condensate?
Are there any conversion numbers for oil condensate to barrels of oil?
Tryoty, you are giving this message board some exaggerated financial clout. There is a person with the initials SEO who is almost the majority owner and he is not known for accepting low ball offers. LOL
And the JDA and ERHC will probably know the actual results.