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HP, Are these folks that dumb?
SHELL Petroleum Development Company (SPDC) and three other oil firms have been sued at a Federal High Court in Abuja for transporting radioactive materials around the Niger Delta illegally
Or are they just wanting money any & every way they can get it? Every open hole logging truck has radioactive materials on it. How are they to run their neutron/density porosity logs without it? Maybe they want a payoff for everything..
John
WD, may want to take about half for taxes, everything else should be close.
John
Six yrs! LOL, It'll fly by in no time Mba. I signed up on SSI today and am going to fish full time, well, may have to come in each spring and fall to take care of these wild turkey & deer I see around my house each day! I'll be thinking about you. lol
John
OT; Yep Walldog, know just where you're at. We caught the tail of that one, knocked us down to 65 yesterday but back up to 75 today. Think I'll go try the new Voyager 22 ft pontoon, super fish I bought and think about you guys. lol.
Just kidden, we've caught hell in Ok all winter. I'll be glad to see this one end.
John
OT; Nick, crappie fishin good! I-40 crosses Eufaula, south side.
If you can wedge your boat in with all the others..lol.
John
He states that ADDAX IS CURRENTLY COOPERATIVELY SHARING DEEP OCEAN GEOLOGY DATA WITH BOTH CHEVRON AND EXXON-MOBIL SO ALL THE COMPANIES WILL HAVE BETTER KNOWLEDGE OF THE REGION
Looks like CVX gets a lot of data without spending another dime. Also, Addax has/will have all info on OBO 1 before drilling.
Thanks Art, sounds good to me!!
John
What is this?
It is gratifying that after years of planning, we expect to commence
drilling with the goal to realize value from our asset base in the JDZ,
said Acting Chief Executive Officer Nicolae Luca. The planned exploration
program is exciting for our shareholders.
Thanks Mark! Sounds like we're 3-4 months from drilling.
John
Maybe that's the reason they put in "not for release in USA". To keep ERHC from telling us. LOL
John
Agree Magic. Why pay a PR firm if they don't tell the public/stakeholders what is going on? Thought that and promoting the company was what they were hired for.
John
I have traded logs, geo reports, ect with neighboring oil companies a few times. If I have no chance of getting their lease, may as well get all the info I can. IF our operators have logs or info on obo 1, I would think a deal has been made. JMO
John
Longtimer, I'm no oil expert as I just sold all my production and bought a lake house on Eufaula (I have to let Nick know where to come fishing lol)and now oil is back up to $61.
IMO what Chevron is doing is letting someone else spend the big bucks and prove up the area. They have Apko to the north and a new find to the NE. Now if someone would just drill a few wells east, blk 2, south blk 4 and SW blk 3 they would have a lot of data for free in every direction.
John
Could be or they may use differant colors for diff formations.
Thanks
John
Tamtam that is interesting! If true, looks like they're in the gas.
Been wanting to ask any of you offshore folks, do they color yellow-gas, green-oil & blue-water as we do on land? Or at least that's the way I've been told. But I've seen yellow brought up as oil several times. TIA
John
edit-- I thought OBO1 was about where A 1 is and that would put them right in the heart of a big trap?
Chevron Texaco says it is too early to forecast how much hydrocarbons will be produced from its oil discovery in Sao Tome and Principe and Nigeria's joint offshore Bloc 1.
How much "WILL BE PRODUCED" from its "OIL DISCOVERY" in blk 1.
Sounds like its commercial to me!!
John
Try, I think it was Pup that said OBO 1 was non-commercial because it was a test well and never ment to be commercial.
The GOG is one of the hotest drilling areas in the world and we have a very good % of three blks. Think I'll stick around until we have a few holes drilled in our blks.
John
Thanks Tamtam, looks like both maps are of 3D. Sure a heck of a differant interpation.
Has there been a well drilled in blk 4?? On page 25 of this link, http://www.equatorexploration.com/press/documents/Corporate%20Presentation%20June%202006%20v8.pdf
it shows white dots as hydrocarbon shows. If you zoom in there is one in blk 4 or on the line of blk 4 & 1. If that's OBO 1, it's in the wrong place, I think. Take a look.
John
Carsonckid, is there any info with the map? Like if it is based on 2d or 3d.
TIA
John
YES, and all I was saying is they will more than likely end up with a small % of blk 2&4 just for the rig. If 2 & 4 were proven then Anadarko might furnish the rig and pay cost for a %. Just dont think Anadarko will loan us a rig for nothing.
John
IF a deal is being made, two things that drilling contrators and the oil company holding the rig will look at "unproven" (in our blks) and "rig availability". Then they'll just rape our operators..
John
Rocky, Not to butt in but this has been done in many ways. In this case, where rigs are so hard to get, I would bet the operator is paying full day rate plus all cost and the oil company that has the rig under contract gets the over ride, just for freeing up the rig.
John
Vizsla, IMO taking on mud means nothing. All rigs take on or haul in mud (benonite) before drilling along with chemicals to mix with the gel for vis, water loss, Ph, ect. and lost circulation material. Water will only clean the hole so deep then you have to mix mud to lift the cuttings out of the hole and form a thin wall cake to hold the walls of the hole. There is a lot more to it but thats the jest of it.
Also Mud Flowing means nothing to me. Mud is pumped.
John
BB, March works for me. Lets see, that's one month after I go on SSI. Might need a little traveling money!
OT, Nick I can't PM but halfway between Stroud & Davenport, as the crows fly.
John
Thanks Mark, sounds good. If they have budgeted in drilling, sounds like they are fairly sure they can get a rig!
OT; Hey Nick, are you ready for this big "ICE STORM" that's hitting me right now? I may be without power for a week! lol.
John
OT, Spec, may want to edit that final score?? This Florida team came to play!!
John
AMEN to that Texas!!!
We run the samples while drilling, cking for oil cut, gas, ect. When logs are run and we know the ohms, prosity & perm I know if we have a producer before the tools get out of the hole. LOL. What could take so long? Run more 3-D and start all over again??
John
Naw, but could be,
More
Unreported
Drilling
LOL
BB, just a WAG as most on this board is! But most oil companies will not operate in the delta long, with what's going on. I was just thinking about SEO selling about half his shares or maybe 20% of all our shares to a big oil co. + control and our share price going to where it should be.
John
LOL Hdot, you caught me! Well at least I've never been called that. I bought in at mid 60s road it to high 90s and then doubled down in low 40s. BTW I still have all my shares and am in the red.
No what I was saying is that I've sold profitable leases because of landowners picking at every little thing, causing troble in any way they can. Now this is very small to compare with what goes on in the delta but oil companys, large or small gets to a point where they will sell cheap just to get rid of problems. JMHO that SEO could own and operate the whole delta area. Hire the locals to do the work, spread just a little of the money around (these people are starving to death), hold on to most of what he has now, and have income and political connections to grow in both areas.
Pumper, Dumper John
Walldog, I think you're on the right track here.
A line from my post on 12-24-06
But then WHY hire Ledbetter? IMO its more likly a trade out for some delta leases that EO can produce and noone else can.
Now to me it just makes sence. There is oil companys with " proven reserves" that they can't produce safely that would trade those for a very small % of what we have in the GOG. EO is a great deal maker, so we'll see.
John
Merry Christmas MBA and all JDZ folks!
John
The high bidder would be the one that knows what's there or someone that sees what is going on and has a lot of cash to outbid everyone else. But then WHY hire Ledbetter? IMO its more likly a trade out for some delta leases that EO can produce and noone else can.
John
Spec, sounds like another rumor being started to me!
Merry Christmas and Happy New Year to all longs.
John
LOLOLOL!!
Strass, could it just be one MM telling the others what they need/have?
The .025 spread on bid & ask sure slowed this rally!
John
ROTFL----WD!
Future plans include deepening the well to a secondary lower Tertiary objective and drilling a sidetrack well to further delineate the extent of the reservoir.
Wonder if CVX drilled a sidetrack well at obo 1? Maybe that's what took so long.
John
Try, someone said 8800 ft TD.
John
WD, it seems strange to me that up until a month or so ago we hardly ever saw SEOs name in print and now its about every day. Kinda makes one wonder what is really going on.
John
BB, I'd still like to know who signed the complaint against ERHC with the DOJ and alerted the SEC. Could this list posted by Ruby be the key?
Brandhuber [Fmr. ERHC Pres.]
Matzke [Fmr. Chevron Chairman & ERHC Advisor]
Abraham [Ex Secretary of Energy in the U.S. Government] [infulence DOJ/SEC ?]
We have a man that knows what we have in the GOG, One with ties to CVX and one that knows the ins & outs of the Gov.
Just thinking about the BIG pic.
John