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Dan K updated ERHC Facebook Group
http://www.facebook.com/?ref=home#!/group.php?gid=13968724060&ref=ts
odd a PR of management having a booth and presenting as a Gold Sponsor at the biggest industry event of the year
was not worthly of a News Release
I recall a PR from past years
but we did get a new brochure which looks like a remake of past brochures
Firing up West ?Africa
The Jubilee deep-water discovery off Ghana and the prospective Venus find off Sierra Leone have helped boost interest in West Africa’s Transform Margin, opening up a highly promising new play that used to be regarded to be a “bad address”.
19 February 2010 09:03 GMT
In this special 28-page feature, Upstream gauges the temperature of this buzzing oil province, which could extend 1500 kilometres from eastern Ghana all the way to Guinea.
We also assess the contrasting states of play in Angola and Nigeria, highlight upcoming prospects in Cameroon, Gabon and Equatorial Guinea and report on potential finds off Sao Tome & Principe.
From Houston, we also talk to Murphy Oil about the US player’s groundbreaking Azurite project off Congo-Brazzaville.
Published: 19 February 2010 09:03 GMT | Last updated: 19 February 2010 09:25 GMT
West Africa looks to Transform
THE hot new geological play in West ?Africa is the Transform Margin between Ghana and Sierra Leone and excitement continues to build elsewhere in sub-?Saharan Africa about the potential of the pre-salt play, transposed from Brazil.
IAIN ESAU and BARRY MORGAN London and Accra 19 February 2010 09:00 GMT
Stimulated by the major Jubilee and Tweneboa oil discoveries off Ghana and the Venus find off Sierra Leone, oil ?companies, big and small, have been ?arriving in droves in an attempt to get a slice of the Transform Margin action.
These finds have also had a positive ?effect in other West African countries, from Nigeria all the way south to Angola, where overlooked Cretaceous targets, such as Jubilee, are being sought out. The ?“Jubilee lookalike” phrase is becoming common currency.
The Transform Margin host countries that were previously deemed unpromising and initially targeted by smaller ?companies unable to enter established ?preserves in Angola and Nigeria.
Industry participants emphasise that the largely unexplored deep-water regions of the margin are far more favourable to giant ?accumulations than areas closer to the shelf and this is confirmed by successive multi-client 3D seismic surveys carried out by contractors such as Petroleum Geo-Services and TGS.
Geologists talk of finding evidence of anticlinal traps in the Apto-Albian, combination traps with ponded turbidites and stratigraphic traps associated with late Cretaceous fans. In layman’s terms, this equates to “high volumetric potential” in active kitchens from the Nigerian deep through to the Ivory Coast and beyond.
In focus is what explorationists call a new oil province extending for 1500 kilometres from eastern Ghana to Guinea with special excitement generated by sweet spots running from Benin to the Tano basin.
Brian Maxted, chief operating officer of Kosmos Energy, once described his company’s assets from north-west Nigeria to Ivorian waters as “a bad address” because of past exploration failures. However, the Jubilee find in 2007 changed perceptions and local legislators sought to respond by tightening conditions for new entrants.
Further afield, signs of a revival in activity from Senegal to Guinea-Bissau are evident in acreage acquisitions by minnows and mid-tiers in previously unfashionable addresses, though much of the pace of development depends on the will of governments to maintain political and fiscal stability.
With turmoil in Guinea, unstable regimes in place from Mauritania to the Gambia and highly prospective Guinea-Bissau described by the United Nations as Africa’s narco-state, companies may be forgiven for preferring ventures in the newly proven plays where they are told fledgling democracies can protect contracts and the rule of law.
Buccaneering Kosmos has taken its search all the way round to disputed ?waters off Western Sahara.
It is a “frontier project of choice” where the Boujdour asset hosts an untested early ?Cretaceous delta similar in size to the Niger Delta.
The risk, according to Maxted, lies in determining if, how and when hydrocarbons were charged and migrated. And this is not something every oil company is willing to risk dollars discovering.
The new “emerging basins play” can only expand exponentially as 3D and 4D modelling becomes more affordable and littoral states move to extend their exclusive economic zones from 200 to 350 nautical miles ?(370 kilometres to 650 kilometres) .
Elsewhere, according to Maxted, ?Cameroon’s “sleeping geology” offers salt basin opportunities, echoing sentiments expressed by seismic crews promoting a series of Niger Delta and Congo fan surveys designed to uncover riches previously hidden beneath the salt. Many explorationists believe West Africa could hold the equivalent of Brazil’s hugely successful pre-salt discoveries and the hunt will soon be on in countries such as Gabon to Angola to validate this assumption.
There has also been a significant resurgence of interest in upstream backwaters such as Cameroon following sizeable ?gas condensate discoveries in the Douala basin, while Equatorial Guinea continues to be a focal point for upstream players spurred on by multiple gas and liquids finds off Bioko Island.
In Congo-Brazzaville, the search is on for a second Mboundi oilfield, one of the largest onshore discoveries in Africa in recent years, while offshore, the groundbreaking Azurite project has turned a few industry heads.
Apart from its mature coastal basin, the Democratic ?Republic of Congo is true frontier territory, with its inland and rift basins in the heart of the Congo rainforest only now beginning to be of interest to junior players.
And, with reports of oil and gas finds being made in a just-completed five-well wildcat programme in the Joint Development Zone between Sao Tome & Principe and Nigeria, has this often-forgotten frontier play finally come of age?
With all this excitement about ?the Transform Margin and pre-salt ?potential one should not forget ?that Nigeria, despite its political ?problems, and Angola, will remain the lynchpins of West Africa’s upstream arena, both producing about 2 million barrels per day of crude and with significant remaining reserves, both established and yet to find.
Published: 19 February 2010 09:00 GMT | Last updated: 19 February 2010 09:25 GMT
Sao Tome Acreage for ERHC
Sao Tome & Principe National Petroleum Agency officials this week awarded Houston-based ERHC Energy full rights in blocks 4 and 11 in its Exclusive Economic Zone.
19 February 2010 09:02 GMT
The award was based on the company’s pre-emptive rights under earlier agreements and paves the way for talks to enter into production sharing contracts for the two licences.
Block 4 is directly east of Principe, while Block 11 is east of Sao Tome.
ERHC was originally responsible for opening up the Sao Tome play in 1997, helping the island stake its claim with the United Nations Boundary Commission and rekindling interest in the Gulf of Guinea deep waters.
As well as the two Blocks already awarded, ERHC has rights to acquire up to a 15% paid working interest in two more blocks of its choice in the Exclusive Economic Zone, the selection of which will take place at a later date to be determined, according to officials.
It has been suggested that Sao Tome will launch a full licensing round for the zone
Published: 19 February 2010 09:02 GMT | Last updated: 19 February 2010 09:20 GMT
UpstreamOnline
now its Deal time - trade some % for $Cash or Free Carries or rights in other producing companies
who knows - 2 Big Ass blocks and we now have the keys
Spp what is this.. 2nd round JDZ drilling notification date
the date to announce results? or announce future drilling plans
First auction of oil blocks the exclusive economic zone to be held in March
Monday, February 8, 2010
The announcement was made by Prime Minister Rafael Branco, who traveled this weekend to weekend to Portugal, among other matters to invite the Portuguese private sector to participate in the tender of the blocks.
For the first time Sao Tome and Principe will put on the market the oil blocks of its exclusive economic zone. Source technical National Petroleum Agency, said the Tela Non that were identified 19 oil blocks in the exclusive economic zone.
The auction will occur in the first week of March next, assured the source of the National Petroleum Agency. In turn, Prime Minister Rafael Branco, who left St. Thomas in the last weekend weekend bound for Portugal, said it will invite the Portuguese investors to participate in the tender. "Soon we'll launch the first auction of blocks from the exclusive economic zone the announcement will be made in early March and would like to draw the attention of Portuguese investors for this opportunity, as well as companies that are in the oil sector," said Rafael white.
But even before opening the tender, the state of Sao Tome is obliged to negotiate a right of first refusal on the blocks of the exclusive economic zone that gave the two foreign companies, the result of the controversial agreements previously signed with these companies.
The source of the National Petroleum Agency, said that the two companies are ERHC currently dominated by the Nigerian capital and Equator. The latter was a partner of the Norwegian company PGS which conducted the seismic testing in the EEZ Sao Tome.
Fruit of the agreement signed with the state of Sao Tome in 2001, PGS, decided to assign this right of first refusal on the blocks the Equator.
Thus, a total of 19 oil blocks divided into 3 zones namely A, B and C, the company ERHC Equator and will each carry a preferential right over 2 blocks. According to the technical source of the National Agency of Petroleum, the state of Sao Tome blocks divided into 3 zones. Each company can only choose 1 block in each area, explained the technical source of the National Petroleum Agency.
London, capital of the United Kingdom will be on stage in March the first auction of oil blocks the exclusive economic zone of Sao Tome and Principe.
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ERHC lands Sao Tome Double
Houston-based ERHC Energy has bagged blocks 4 and 11 in the Gulf of Guinea off Sao Tome & Principe.
Upstream staff 16 February 2010 14:56 GMT
www.UpstreamOnline.com
ERHC said the National Petroleum Agency of Sao Tome & Principe had confirmed the award of 100% stakes in the blocks, which lie in Sao Tome & Principe's Exclusive Economic Zone.
The confirmation follows ERHC's exercise of rights arising from prior agreements between ERHC and Sao Tome & Principe.
Published: 16 February 2010 14:56 GMT | Last updated: 16 February 2010 14:56 GMT
News Still not out yet on Marketwire -
spoke to DK says it will be soon
that's an encourging sign !!!
KROM that would be Awesome !!
"results exceeded our expectations"
True - with regard to the agreements - drilling results still pending - our PPS still waiting to outperform
hoping for more of the same type of agreements with big cash and free carries and lots of press
STP's first Lic Round will surely get some National Press and hopefully ERHC will get National Press along with it
we deserve some good news
the calender is stacked in our favor next 3 weeks
Agree ... "Parallel to the arbitration, the parties are currently exploring the possibility of consensual resolution of the questions in issue and if such exploration of consensual resolution is successful, the arbitration "may not" be pursued to conclusion."
Bad PR and overhanging issues are not good for anyone at this stage - so why not clear the air ...
this should be interesting next week ...
http://www.cwcnog.com/
RED - we still going to $3.67 ???
Hope so ...
LoL
Sinopec, BP Talk for Shale Gas
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.
Lurking DeerRun - Great news indeed
Peter said cannot comment on Drill results
it's a continuing process
Peter Asks investors to take CAUTION from any reports in the media or posted on message boards as there were some forward comments made by the JDA members over the weekend
Spp GAS ????
Spp There is so much gas in the USA and abroad suppliers cannot even store it all - there is a 5 year OVER SUPPLY that is why Gas sells at $5 while OIL sells at $70+ - NATGAS sold at $2.50 just a few months back.
You Said ....
<<<But on a global basis, gas is a commodity as scarce and precious as ever....and becoming even more so in the immediate years ahead>>>
What DeerRun did not say is that at $5 there is LIMITED profit currently to drill and produce NatGas even with commercial quantities - especially in Deep water. Land based NatGas costs $3-5 to drill and with deep water the costs to produce goes even higher.
That's wonderful we did not DRY Hole and found huge GAS but ....
How will we justify our MktCap with Mostly GAS and Limited OIL
WE NEED BIG OIL !!!! F* the GAS
Thanks MARK !!!! Well Done
*** Upstream ** Update ** JDZ
Addax Petroleum will shortly finish drilling wildcat Malanza-1X in the Nigeria and Sao Tome & Principe joint development zone, writes Barry Morgan.
JDZ probe closes in on finish
Friday, 04 December, 2009, 01:15 GMT
The well on Block 4 was the fourth to be spudded this year in the JDZ. The Transocean unit Deepwater Pathfinder will mobilise immediately to spud the Oki East prospect, also in Block 4, according to a senior Abuja-based official.
The Deepwater Pathfinder earlier drilled Kina-1 on the same licence.
Results from earlier probes, including Sinopec’s Bomu-1 on Block 2 and Lemba-1X on ?Anadarko-operated Block 3, will be announced before the end of this year.
Sentiment within the Joint Development Authority is said to be “positive and optimistic” with one source volunteering that preliminary indications were for more gas than oil in several of the wells.
Officials would not be drawn on results but suggested efforts have been “more successful” than Chevron’s Obo-1 wildcat on Block 1 several years ago.
Sinopec has proposed to take over Addax and the deal is undergoing official scrutiny in Nigeria.
Published: 04 December 2009 | Last updated: 04 December 2009
thanks Mark !!!!
OILY What about this one ??
"ERHE is about to go vertical"
Addax Petroleum, operator of JDZ Block 4, in which ERHC holds a 19.5 percent interest, announced earlier this week that it also expects to begin exploratory drilling in August.
Addax has arranged to take possession of the Deepwater Pathfinder in the weeks to come and begin a ***four-well drilling campaign*** starting with the Kina Prospect.
http://www.erhc.com/en/rel/183/
There is a lot of new chatter of an Extended JDZ Drill campaign on the Board with new DrillShip the Deepwater Discovery, owned by Transocean (NYSE:RIG)
Some are talking of a $630k Rig drilling for 2 years ....
While yes this is great news of their confidence of Oil in the Zone
And continuing drilling
It may quell the news of any immediate releases and keep us stuck for 2 years with no buyout and limited news!
Any thoughts
Oily .. 2 ERHC Board Members Walk the Plank ?
Yes Sir - !!!
a bit of both - BB Seems to think we will be at the High End of the Range
Still could hold 27-35 MM Bbls for us
So We HAVE OIL in BL 3 & 4 !! Confirmed
**Nice**
OK Deal Time
Addax got a buyout Pre Drilling so I think we are good to go
PTD - Planned Total Depth, I heard they went Beyond TD on 3
seems we are getting conflicting data
regardless BL 3 is only like 27 MM BBls for us and the 200-300 MM Bbls comes from BL 4
It all Adds up in the end but the King Maker needs to Be King
hearing it is ...
Thanks Africa Gold - The small tidbits of news seems positive for results on BL 4
are you sources giving you any insight at all ?
You obviously are still holding shares
see....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42436032
All Shhhhhh - Very Intentional Too !!!
Strick Instructions from the Top Down
only Billions at Stake !!!
No Leaky Leaky
No Press
No Hype
No PR
BUT IT'S COMING SOON
IMO
NITE Sells his BOX Out at the ASK
then when depleted his stock gets on the BID for Support
NITE has led all our rallys Higher going back to 2003
And Will Again - hopefully soon
IMO
YES WD !! Very quietly too !!!
Hopefully he has $Millions to buy
He must have insight as to how big is the King Maker !!!
Also YEARS of planning / researhing and approvals went into the selection of those Drill Sites
I will leave the drilling to the Experts
Schrull indicated a few months back Malanza and Kina South would be the 3rd and 4th DP wells drilled
dont have a link - he said it at Capital Markets Day I recall
at risk of losing our free carry absolutely
The Operators or JDA will say something soon
BTW - they sure are celebrating over at Addax
http://www.addaxpetroleum.com/
Hey BB - I think I see SEO in the Crowd !!
only $Billions at Stake here
This is funny ...
"All I am demanding is a fair accounting of drilling results TO DATE."
Sure your .00001 % of the O/S Can Demand all you want - LoL
Because the stock hasn't tanked to $0.05
If they found Nothing thats where'd we be
They found something of interest so we wait to see how big, simple
the company predicted 336 MM Bbls [per NSAI]
we are currently trading as if we only have 50 MM Bbls
I will Estimate we get Much more or some Chinese may shove Mr. JCG down a 13 5/8 Casing