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Meridian, my thanks also for your willingness to share info. No more questions from me tonight.
I also want to thank mugwump for putting me onto ERHC, some time back. I follow your informative posts over on the PMs site.
Best wishes and prosperity to all.
Thanks kobi, I believe that the JDA has to be involved also.
Thanks!
Does the negotiations include CVX since their find presumabley laps over into Block 2? TIA
Another correction, Joe gets it WRONG again! eom
oil-cowboy. Go to the JDA website, click on Petroleum Legislation. Then go to Petroleum Regulations. Regulation 64 covers confidentiality and Regulation 65 will cover Release of Information and Data, in depth.
From Reuters: March 5, 2006 8:59 PM
Exon, Chevron set off to face nervous Wall Street
Excerpt: "Analysts expect few surprises from Exon's presentation, but are bracing themselves for some unpleasant ones from Chevron, including a potential cut in its production forecast."
An excellent time to drop the "bomb" on them (analysts) about the find.
Someone on this board mentioned this a day or two ago. I agree!
OK, I quit!
I don't want Lone Clone getting upset with us.
Back to business. I loaded the boat with CVX options Friday, anticipating a positive announcement from them soon. Any winnings will go for more ERHE. If you don't play, you can't win. Good luck to all!
WELL ok!
Too bad they didn't name the salad Julius then!
Well,
at least he got a salad named after him!
The Ides of March are on the 15th, hopefully we can get the signings completed on the 14th without anyone getting the axe!
Beware The Ides of March!
A favorite time of the year for "Backstabbings!"
If the find in BL1 extends into BL2, like most of us believe, ERHC automatically gets a portion of the action of BL1.
Under the same agreement, CVX automatically gets a portion of the winnings in BL2. It makes sense to me, like Meridian said, that CVX hasn't talked to ERHC. They don't need to at this time. jmwag
Yep, Manure Materializes! eom
Sorry, my misspelling on satisfactory.
Paul, that's probably true, but that dosen't mean that the JDA has to release the info to the public.
For what it is worth, In correspondance with the JDA, I asked for any information that they could provide on CVX's drilling in block 1 and if CVX had made any discoveries, did it extend into block 2 or any other adjacent blocks.
The answer I received stated, "All I can tell you for now is that drilling is progressing satisfactoriy. I will give you a more comprehensive update when the latest report is received."
This was dated, 2-22-06. As of today, I haven't received any other information.
Bingo!
CVX made the big find. They are not about to let the circling hyenas grab the "main course," after they made the kill.
Don't expect any signings for bl 2&4 until CVX is firmly locked into those blocks.
Also, they will not release any info on their discovery until their participation in 2 and 4 are assured.
leo1, I agree. I like this board for the sharing of information about a stock that we all have an interst in.
A lot of the folks here, put in a lot of time and effort to find information and news that will be beneficial to all of us.
I don't like wading through all of the posts that are used to bash someone, that has no credibilty anyway.
This might be significant, or not, but looking at the active trading for CVX today, the last trade of the session was filled at 16:03 for 1,239,100 shares. Last price was $56.48.
This one block of shares was almost $70,000,000, if my math is right.
Does someone know that good news is imminent? JMWAG
Not a joke at all! It's the truth. "First oil" statement is what will push ERHE stock to $'s, possibly this week. JMWAG
It's a "cut-throat" business. EO would sell in an instant for a few bilion more. Don't be suprised at the next breaking news. Best to you and all board members.
It isn't just about BL2, it is about the whole JDZ.
The U S wants it, the Chinese want it. They don't and won't want to share.
The signing program probably was on for last Friday. But one of the major players came up with a better offer and so, the delay.
Nigeria and STP can't lose on this deal. It is possible that they together, have the big "dogs" in a bidding war.
Since STP has been known to stir the manure in the past, they were chosen to be the "bad" guys again, over delaying the signing.
This is world politics, big money and shady/under the table dealings at it's best!
The U S will win this high stakes game. CVX already has a toe in the door with BL1 and probably a major find that extends into BL2.
CVX will end up with the majority of control of ERHE. Sir EO will sell out to them with an offer he "can't" refuse. CVX will own all of the contracts and assignments currently owned by ERHE. This won't happen over night, but it will happen fairly rapidly.
I don't know where the shares of ERHE will end up, but I am not selling anytime soon.
Be advised, this is JMWAG!
yes!
The US will not tolerate the Chinese moving into the JDZ.
STP is flexing muscle because of the US involvement. U S will establish a naval base in Sao Tome.
Sec. of State Condoleezza Rice is an ex-director of Chevron/Texeco. CVX has clout.
All present players will benefit, ERHE will retain all previous awarded contracts.
Go to your favorite search engine and punch in "Sao Tome and U S Military."
Whether we like it or not, world politics and military might, will dictate who "gets" the oil. JMWAG
Make that 45-55, never was good at math!
Calm down! Looks like all good news! I think the "Find," in Block 1 set this whole thing off.
A major discovery, known by all of the players, now the greed has set in!
STP wants a bigger cut, 50-50 or maybe 45-50.
It's possible that the majority of the find is in STP waters.
STP acting tough because they have been in talks with the U.S. about providing a U.S. military base.
If you have the "loot," hire the best bodyguards!
Hang onto your shares, this might be settled before the week is out.