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ERHC NEWS...Upstream Article
Pioneer in JDZ pact
14:18 GMT
Houston-based Environmental Remediation Holding Corporation (ERHC) has signed an additional agreement with US independent Pioneer Natural Resources whereby the companies will jointly evaluate and negotiate participation in block 3 of Nigeria and Sao Tome's Joint Development Zone (JDZ) in the Gulf of Guinea.
"This makes the second agreement with Pioneer in the JDZ. I believe it demonstrates Pioneer's commitment to the region," said ERHC president Ali Memon.
ERHC already has preferential rights to the tune of 20% on block 3, even without bidding with Pioneer.
Pioneer and ERHC will also bid for block 2, where ERHC also enjoys preferential rights negotiated some years back and since confirmed by international treaty. ERHC additionally has a joint participation agreement with Noble Energy for block 4, where they are jointly bidding for operatorship.
Bids in what has been dubbed the second JDZ round (for blocks 2, 3, 4, 5 and 6) will be opened this afternoon with awards expected by 31 December. Round one only yielded one award - block 1, which was landed by ChevronTexaco and the PSC is due for signature today.
ERHC Signs Participation Agreement with Pioneer Natural Resources for Block 3
Business Wire - December 15, 2004 08:00
HOUSTON, Dec 15, 2004 (BUSINESS WIRE) -- Environmental Remediation Holding Corporation ("ERHC") (OTCBB:ERHC) announced today that it has signed an additional participation agreement with Pioneer Natural Resources Company (NYSE:PXD) whereby the companies will jointly evaluate and negotiate participation in Block 3 of the Nigeria/Democratic Republic of Sao Tome and Principe Joint Development Zone ("JDZ") in the Gulf of Guinea, offshore West Africa.
"This makes the second agreement with Pioneer in the JDZ. I believe it demonstrates Pioneer's commitment to the region," commented Mr. Ali Memon, president and CEO of ERHC.
ERHC is an oil and gas company focused on exploration in the Gulf of Guinea offshore West Africa. ERHC's headquarters are in Houston. For more information, visit ERHC's Web site at www.erhc.com.
Pioneer Natural Resources is a large independent oil and gas
exploration and production company with operations in the United
States, including the Deepwater Gulf of Mexico, Argentina, Canada, Equatorial Guinea, Gabon, South Africa and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's Web site at www.pioneernrc.com.
The statements in this document are forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements and the business prospects of ERHC are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties are described on Forms 10-Q and 10-K filed with the Securities and Exchange Commission.
SOURCE: ERHC
ERHC, Houston
John Coleman, 713-626-4700
Copyright (C) 2004 Business Wire. All rights reserved.
Press Release Source: Global Environmental Energy Corp.
Global Environmental Energy Corp. Extends Stock Dividend Record Date
Tuesday December 7, 10:19 am ET
NASSAU, Bahamas--(BUSINESS WIRE)--Dec. 7, 2004--Global Environmental Energy Corp. (OTCBB:GEEC - News; FWB:LFT) has extended the Stock Dividend Record Date for the payment of a stock dividend in Biosphere Development Corp.
The original record date was to be December 15, 2004. The company has now extended the record date to January 11, 2005.
The corresponding dividend payment date will be January 31, 2005. Signature Stock Transfer will mail the new shares of Biosphere Development Corp. to existing shareholders of Global Environmental Energy Corp., as soon as possible after the payment date without any action being necessary on the part of the shareholder of record.
Global Environmental Energy Corp. intends to issue the stock dividend as of the record date "ONLY" to shareholders that own not less than 100 shares of Global Environmental Energy Corp. 3 new shares of Biosphere Development Corp. will be issued for each 100 shares of Global Environmental Energy Corp. owned on the record date. By way of example, the owner of 100 shares of Global Environmental Energy Corp. will receive 3 shares of Biosphere Development Corp. as a dividend; the owner of 199 shares of Global Environmental Energy Corp. will receive 3 shares of Biosphere Development Corp. as a dividend.
Biosphere Development Corp. is a wholly owned subsidiary of Global Environmental Energy Corp. Biosphere Development Corp. was formed to be able to better develop the biosphere technology and expand our ability to become a major player in alternative energy.
Shares in Biosphere Development Corp. are not registered with the SEC and therefore are not freely tradable or transferable. Biosphere Development Corp. is not a 12-G reporting company at this time. It is the intention of Global Environmental Energy Corp., that Biosphere Development Corp. will become a fully reporting and trading company in the future if accepted by the SEC and the NASD for trading.
About Global Environmental Energy Corp.
Global Environmental Energy Corp. intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids; and many other traditional and non-traditional waste materials.
Note to Investors
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Global Environmental Energy Corp. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
Global Environmental Energy Corp. assumes no obligation to update the information contained in this press release. Global Environmental Energy Corp.'s future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. GEEC's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-QSBs and its Annual Report on Form 10-KSB.
----------------------------------------------------------------
Contact:
Global Environmental Energy Corp.
Dr. C.A. McCormack, 877-723-6315
----------------------------------------------------------------
Source: Global Environmental Energy Corp.
ERHC, UPSTREAM NEWS !!!!
Five blocks up for grabs again off Nigeria and Sao Tome & Principe
JDA opens door to second round
00:02 GMT
THE Joint Development Authority (JDA) set up by Nigeria and Sao Tome & Principe to manage the disputed maritime zone in the Gulf of Guinea has launched its planned second licensing round for unallocated blocks 2, 3, 4, 5 & 6.
The move was announced after a meeting of the Joint Ministerial
Council (JMC) held in Abuja on Monday.
Block-1 has already been awarded to ChevronTexaco (51%) with
ExxonMobil (40%) enjoying junior equity and Nigerian-Norwegian indie Energy Equity Resources (EER) picking up 9%. EER is backed by Aliko Dangote, a close political associate of President Olusegun Obasanjo, and similarly well-connected indies are believed to be in line for junior equity in blocks that are as yet unallocated.
President Obasanjo and Sao Tomean President Fradique de Menezes want outstanding aspects of block-1's joint operating agreement ironed out by the end of this month, and at least four additional blocks licenced by the end of the year.
The statement by the JDA reiterated that Environmental Remediation Holdings Corporation (ERHC) would retain its 30% preferential stake in block-2 and 25% in block-4. ERHC is owned by Nigerian indie Chrome Energy and its management has negotiated a joint participation agreement with Pioneer Natural Resources and Noble Energy targeting blocks-2 and 4, respectively.
The ERHC/Chrome partnerships have confirmed they will bid to achieve operating equity in both blocks and will also bid for other blocks, such as block-6, in which they have a preferential stake.
ERHC's prior rights have been "accepted and confirmed" by the JMC, though by the same token ERHC is expected to pay its share of any signature bonus for block-6. ERHC has priority rights to 20% of block-3 and 15% of block-6.
ExxonMobil was not mentioned in the JMC launch statement, though the supermajor is expected to bid afresh. Terms and conditions for the current round are trickling out but insiders do not expect them to differ much from the previous regime.
Issues under current focus include whether a company must relinquish 50% on being granted a development licence, as is the case in the Nigerian Exclusive Economic Zone , and whether the licence can be automatically renewed after 28 years or forced into a review, as JDA officials prefer. Talks are ongoing with suitors and both Noble and Pioneer have conducted high-level negotiations in Abuja and Sao Tome over the last week, meeting with both presidents.
For its part, ERHC has entered talks with a Chinese partner for block-4 where Anadarko has expressed strong interest.
The JDA confirmed the interest of Canadian listed Centurion and
Indian indie Reliance Industries in block-4.
At least a $30 million signature bonus is expected per block as a minimum, though block-1 went for $123 million.
Processing and registration fees will not have to paid by suitors who participated in the first round. Signature bonuses will be payable in one tranche, and not in a phased manner as some suitors originally preferred.
Awardees will pay royalties in line with eventual production and a tax rate of 50% under the Joint Development Zone licensing terms.
barry.morgan@u...
Press Release Source: Global Environmental Energy Corp.
CLARIFICATION/Global Shareholders Receive Stock Dividend From New Global Subsidiary: Biosphere Development Corp.
Thursday November 18, 11:03 am ET
NASSAU, BAHAMAS--(BUSINESS WIRE)--Nov. 18, 2004--Global Environmental Energy Corp. (OTCBB:GEEC - News; FWB:LFT) wishes to issue the following clarification to its release BW5977 (LA-GLOBAL-ENVIRONMENTAL) "Global Shareholders Receive 10% Stock Dividend from New Global Subsidiary: Biosphere Development Corp." issued Tuesday, Nov. 16, 2004:
Global Environmental Energy Corp. (OTCBB:GEEC - News; FWB:LFT) ("GLOBAL"), confirmed that the company has filed an 8-K stating that on November 11, 2004 the Board of GLOBAL approved the formation of a wholly owned subsidiary, and a stock dividend of Biosphere Development Corp. ("BIOSPHERE"), and believes that an additional explanation to shareholders is warranted.
Existing shareholders of GLOBAL are to receive 3 shares of Biosphere for every 100 shares of GLOBAL. The Company for ease of issuance has rounded up to three shares.
The record date will be December 15, 2004 with delivery on or about January 5, 2005. In order to receive the stock dividend, a stockholder of record on the record date must continue to hold GEEC stock through the dividend payment date of January 5, 2005.
As GLOBAL continues to expand into a fully integrated energy company, the value of the Company's assets will be developed more efficiently in operating subsidiary companies. Biosphere Development Corp. has been formed as research and development company to maximize the potential of the Company's Biosphere Technology and to acquire new green technologies.
As part of this overall strategy, GLOBAL intends to cause Biosphere Development Corp. to become a fully reporting trading company in its own right and will be filing all required paper work with the SEC and NASD.
About Global Environmental Energy Corp.
Global Environmental Energy Corp. intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process.
The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids; and many other traditional and non-traditional waste materials.
Hey JeffNC, Nice to see you aboard the ERHC train. Takoff is here and the ride should be wonderful. Big $$$ soon. Good luck to all of us. GO ERHC!!!
ERHC has posted press release on the website.
http://www.erhc.com/news/Copy%20of%20Press%20Release%20issued%20by%20the%20JDA%20October%2029,%20200...
Oil firm, ERHC pledges commitment to exploration in joint development zone
PRESIDENT of Environmental Remediation Holding Company (ERHC) Mr. Ali Memon, says the company is committed to exploration of hydrocarbon
resources in the Nigeria-Sao Tome Joint Development Zone (JDZ).
In an interview with the News Agency of Nigeria (NAN), at the weekend in Abuja, the chief executive said the company was keen to start exploration activity in the area.
``Given the prolific nature of the JDZ our company will showcase its expertise in deep offshore exploration in the zone,' he said.
The Nigeria-Sao Tome and Principe Joint Development Authority (JDA) will in December, put up four oil blocks in the JDZ for bids by interested companies.
The blocks are 2, 3, 4, and 6.
The announcement was made at the end of 8th Joint Ministerial Council (JMC), meeting of the JDA, held at the weekend in Abuja.
``The licensing round will be conducted without prejudice to the rights already exercised by the ERHC, and validated by the JDA as well as the existing pre-emption rights of Exxon-Mobil,' the meeting resolved.
According to him, the recognition of the rights of ERHC by the JDA was encouraging and would go a long way to impact on its activities.
The ERHC has existing rights on six blocks in the JDZ, as a result of their oil search in the area before the setting up of the JDA.
Nigeria and Democratic Republic of Sao Tome and Principe had in February 2001, set up the JDA to harness, exploit and manage the hydrocarbon resources in the JDZ for the benefits of their people on 60/40 basis in favour of Nigeria.
ERHC has between 15 and 35 per cent rights on the six blocks, and had indicated interest to exercise some rights on blocks 2 and 4 during the next licensing round.
NAN recalls that the JDA had in October last year put up eight blocks for offer and awarded block one after evaluation, to Chevron-Texaco, Exxon-Mobil and Dangote Energy Equity Resources.
The invitation of bids for the second round of licensing signaled the closure of the 2003 licensing round.
Memon noted that the announcement of the second round of licensing was a welcomed development.
``It is a right step in the right direction aimed at making positive contribution to efforts in developing the JDZ,' he said.
According to him, ERHC would pursue with keen interest the processes of the award of licence in the JDZ given its competence in deep offshore operations.
The company was established in 1996 as an upstream development company and is quoted on the New York Stock Exchange
http://www.guardiannewsngr.com/energy/article04
Upstream, Barry Morgan article. Sorry I left off the last part in my post.
ERHC NEWS
Pressure brought to bear on JDA Heads of state want awards to
be concluded by mid-November
00:14 GMT
ITIS understood both Nigeria's and Sao Tome's heads of state are
exerting pressure on the Abuja-based Joint Development Authority for Gulf of Guinea deep awards to be concluded by mid-November, amid official protestation that they may not be announced formally until the end of December.
Nine blocks were originally offered in the Joint Development Zone.
There is also growing awareness that an upcoming Angolan licensing round will compete for signature bonuses, plus unease that further delays could affect national plans to license remaining deep-water permits in their respective exclusive economic zones.
The only PSC in the JDZ that has been fully negotiated is
ChevronTexaco's block-1, and that will be announced shortly as
falling under the "first round". An announcement is expected later this week for a "second round" encompassing blocks-2, 3, 4, 5 & 6, with a view to getting awards out before end-year.
ChevronTexaco has 51% of block 1, ExxonMobil has 40% and Oslo-
registered Equity Energy Resources holds the remainder.
Aside from ExxonMobil's junior equity award of 40% in block-1, the supermajor last week elected not to bid additional equity in blocks 2 & 4 beyond its preferential rights to 25%. The JDA then adopted the ruse of closing the preliminary round and pursuing a formal "second round" because it needed to slightly adjust the terms in order to conduct the rest of the round "as a negotiated thing and not a bid thing", said one insider.
A "third round" is envisaged next year for blocks 7, 8 & 9 where
inadequate seismic has hobbled the level of signature bonuses bid there was no interest at all in block-8.
As predicted, the US minnow Environmental Remediation Holding
Corporation had its preferential equity rights in blocks 2, 4 & 6 reaffirmed last week by the JDA and is on course for a possible joint operatorship with Pioneer Natural Resources (block-2) and with Noble Energy for a significant chunk of block-4.
The revamped split round innovation makes it easier to admit third parties like Petrobras to negotiations and for a Chinese national oil company to join Anadarko in the fray. New to the scene is India's Reliance Industries, bidding in tandem with Centurion Energy which originally bid blocks 2 & 3.
The JDA's surprise inclusion of blocks-5 in "round two"' reflects a desire to get a critical mass of awards done to kick-start substantial E&P in the zone.
ERHC post from another board.
By: mabenn1
02 Nov 2004, 12:43 AM EST
Msg. 72447 of 72511
Jump to msg. #
For any newbies ……
Mongo is quite gifted at dropping innuendo laced with tidbits of fact in his misguided attempt to create fear, uncertainty and doubt amongst potential new investors. I don’t believe he and his buddies have the slightest effect at all on the true longs here. Reading his endless drivel day after day makes me want to puke more than Yemenoil!
He really doesn’t warrant any response and I really HATE wasting my time refuting his cr@p, but I will provide this information that I hope is usefull to new investors in ERHC.
First he asked me to state where it says ERHC's rights are perfected and to provide an SEC link. Of course the reason he asks is because he and everybody else on this board knows they are not technically“perfected” as yet. The question in is how likely are they to be perfected? And when they are perfected, how certain is it what those rights will be? Lets review a little history and address some facts!
ERHC originally negotiated a MOU with Sao Tome in June of 1997 whereby they would receive 49% of the state owned oil company STPetro, a share of all signature bonuses, and a 5% override from all Sao Tome oil revenue. Highway robbery at its best.
http://www.sec.gov/Archives/edgar/data/799235/0001014060-97-000059.txt
In February 2001, Offer comes along and buys ERHC. In May 2001 this agreement was renegotiated to provide ERHC with 10% of all profits from operations in the JDZ, 5% of all signature bonuses, 1.5% override on all oil and gas production in the JDZ, options 15% paid working interest in two blocks in the JDZ, 2 100% blocks in the EEZ and 2 15% paid interests in the EEZ.
While this was a much better deal for Sao Tome than the original MOU, ERHC still obviously took advantage of a nation that was very inexperienced in these matters. Nonetheless, this MOU was arbitrated before the International Chamber of Commerce and was upheld in July 2002.
http://www.sec.gov/Archives/edgar/data/799235/000091205702026642/a2084027zex-99.txt
Along came Menezes and in September 2002 he said the agreement was unenforceable.
http://www.sec.gov/Archives/edgar/data/799235/000091205702036702/a2090013zex-99.htm
So apparently, Offer, being the nice (and astute) guy that he is, renegotiates to the terms we have today resulting in the Option Agreement dated April 2, 2003.
http://www.sec.gov/Archives/edgar/data/799235/000104746903008943/a2105823zex-99.htm
In the Option Agreement between Sao Tome and ERHC it clearly states ERHC’s rights to select its pre-emptive choices and what is required to perfect those rights. Some on this board have said that the most recent agreement was arbitrated, I did not find that in the SEC filings, where I got the above information. If I’m wrong about this, would someone please let me know and point me to a link.
Here is the link to the final Option Agreement for anyone who wishes to read it and understand it. http://www.erhc.com/pdfs/8K_Apr_16_2003_Exh_10_1_Option_Agreement.pdf
It says is that ERHC gets to make the following selections:
Choice 1 15% free
Choice 2 15% prorata signature bonus
Choice 3 20% free
Choice 4 30% free
Choice 5 25% free
Choice 6 20% prorata signature bonus
ERHC made the following selections:
Block 2 30%
Block 4 25%
Block 6 15%
Block 9 20%
Block 3 20%
Block 5 15%
I don’t recall the date and could not put my finger on the link (I’m sure someone else on the board will be happy to provide it, BB could you perhaps oblige us here?), but within the past several months, the issue of ERHC’s rights were once again brought up before the Parliament of Sao Tome, and the Parliament voted to fully honor the agreement with ERHC. So we no longer have to worry about any arbitrary executive intervention. And finally we have the official statement published in the Reuters article yesterday from the JDA , the official body which has full authority to make final decisions regarding block awards,:
It [the JDA] said the next round would be conducted "without prejudice to the rights already exercised by Environmental Remediation Holding Company (ERHC.OB: Quote, Profile, Research) and validated by the JDA, and the existing remaining pre-emption rights of ExxonMobil."
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=72230
Please note that it says without prejudice to RIGHTS ALREADY SELECTED by ERHC and VALIDATED by the JDA. So this means we get the selections we have already made and there is no chance of going back to our 15% limitation in 2 and 4 due to any influence by XOM. It further reinforces the fact that everyone involved has fully recognized and validated ERHc’s rights. So any new bidding will have zero effect on ERHC’s rights as Mongo insinuates.
It has been a long road to get to the point we are at today, many negotiations, many delays, but now the process officially grinds on, and it is certain what ERHC’s MINIMUM rights will be.
Now what is ERHC required to do to “perfect” these rights? ABSOLUTELY NOTHING except to wait for blocks to be awarded and to pay the prorata signature bonuses! They do not have to prove any qualification of any kind to fully acquire there selected rights. They do need to prove qualification for any ADDITIONAL rights they have bid on, over and above their selected rights. That of course is where the partnerships with PXD and NBL come in.
From the Option Agreement:
“Subject to clause 4.4 [which simply states ERHC has to buy the initial seismic study], DRSTP undertakes that the ONLY condition, criteria, restriction or further requirement that ERHC must observe or meet in order to exercise its rights under this Agreement and properly and fully acquire any and all of the working interests referred to in clause 4.1 is payment of the signature bonuses…., applicable taxes, fees and charges adopted by the JMC…..”
From the Administration Agreement
http://www.erhc.com/pdfs/8K_Apr_16_2003_Exh_10_2_Admin_Agreement.pdf
“…the JDA agrees to do all things necessary to enable ERHC to properly exercise and enjoy the rights granted to it pursuant to the Option Agreement…”
I’m sure Mongo will continue to try to confuse everyone again between our selected preemptive rights and bids made by ERHC and others with stupid questions like ”Why bother with a re-bid if the rights are irrefutable and preemptive and a done deal?”. Obviously, the JDA feels they can secure better bids, better participants, or both, through a “new” bidding round (which most believe has been going on for some time already). Regardless of the outcome of any new bids, the preemptive rights ERHC has already selected are assured and will be perfected the moment any block in which ERHC made a selection is awarded to anyone, in any bidding round. ERHC may or may not win ADDITIONAL rights as a result of their bids, which will apparently be (or already have been made) with very qualified partners PXD and NBL. Bids are bids and preemptive rights are just that, preemptive. The qualified high bidder wins the block, and ERHC simply walks in and gets its selected share of the block along side any successful bidders. Allow me to define preemptive – “to seize upon to the exclusion of others; take precedence over; higher than necessary and designed to shut out bids by opponents”. Mongo knows this.
So Mongo’s next inane point will of course be…Where will ERHC get the money? He’s too easy to predict. Frankly I don’t care where they get the money, whether through additional debt instruments, issuing additional shares, through partnership deals with PXD and NBL and potential carried interests, or all of the above. It’s clear to the entire world that the oil is there. Let’s see…US naval base, joint naval operations, and a new international airport (which by the way, the company I work for has received a prequalification package to bid on part of the airport work). It is never a problem to finance a favorable business deal. I am not the least bit worried about Offor taking care of the signature bonuses. These sums of money are insignificant in relation to the potential earning stream from these leases.
He really needs to get off the Going Concern bandwagon. Everyone here knows that ERHC has no revenue. Everyone also knows that any company with no revenue will have a Going Concern statement in the audit report. Of course it is also true that if ERHC’s rights are not perfected, this would present a major problem, but if you followed and understood any of what I have explained above, then you know that the only event that can prevent these rights from being perfected is for the JDA not to award any blocks. I would give that outcome a snowballs chance in h___. So to me and everyone else here, ERHC’s rights are as good as guaranteed.
Investments are speculative. We speculate on the expected outcome of future events. If we are smart we follow the developments leading up to those events very closely and modify our risk assessment each step of the way. I have followed every piece of information about ERHC and have read almost every post on this board for the past year and a half. I consider the risk at this point to be very small indeed. The reward on the other hand, will be HUGE!
Negotiations at final stages for Gulf of Guinea developments
JDA closes in on blocks handout
21.10.2004
PROTRACTED negotiations between oil companies and the Joint Development Authority (JDA)set up by Nigeria and Sao Tome to administer the disputed maritime zone in the Gulf of Guinea deep look likely to come to fruition over the next month.
Block-1 now looks set to be announced first, with blocks 2 & 4 following in November.
Block-1 will have Chevron-Texaco as operator, ExxonMobil with junior equity and Oslo minnow Equity Energy Resources also participating.
The signing of the agreement was originally held up because of the supermajors' insistence on most favoured nation status with regard to subsequent terms and conditions applying to the remainder of Joint Development Zone (JDZ) licences.
Nigerian officials then raised the problem of what to do with any gas discoveries and negotiators had then to wait until a parallel gas production sharing contract was swiftly drawn up and integrated into the deal.
Nigeria is currently finalising its own Gas Act to administer pure gas licences in its own waters and the new JDZ provisions are understood to reflect Abuja's new thinking on this issue.
Similar gas provisions will likely be imposed on suitors angling for all the other nine JDZ blocks, including 2, 4 and possibly 3 and 6, which officials hope to allocate in November.
Tense talks over the latter two are unabated, with Anadarko pushing its case alongside Chinese interests.
Jockeying for position among Nigerian indies hopeful for a slice of blocks 2 and 4 will intensify this week as US explorer ERHC along with its respective partners Pioneer Natural Resources and Noble Energy closes in on a 50% to 65% operating stake in each PSC.
ExxonMobil's inclusion in the party will leave little room for local minnows. Aside from this aspect of the licence, the deals are believed to be done and dusted awaiting approval of the Joint Ministerial Council.
Thanks for the news balance, great to see you back on Ihub.
Negotiations at final stages for Gulf of Guinea developments
Hardcopy exclusive: JDA closes in on blocks handout
07:06 GMT
Protracted negotiations between oil companies and the Joint Development Authority (JDA) set up by Nigeria and Sao Tome to administer the disputed maritime zone in the Gulf of Guinea deep look likely to come to fruition over the next month.
Block 1 now looks set to be announced first, with blocks 2 & 4 following in November.
Block 1 will have ChevronTexaco as operator, ExxonMobil with junior equity and Oslo minnow Equity Energy Resources also participating.
Read the full story in tomorrow's Hardcopy.
Upstream
Hi Gigwoof, Sorry been so busy trying to find more information on ERHC and also my job. I posted the last I could find about the hold up seems to be because of XOM. What a bunch of cry babies. With any luck, any day now up up and away ERHC. Best to all of us longs. Also I am on the free subscribtion to IHUB so public replys only for me.
Lets hope that XOM gets off their high horse very soon and will finish the end paperwork product so block 1 PSC can set the standard for blocks 2, 4 & 6. With no news all of us ERHC longs just sit and wait as we have for years. This week would be nice!
Global Environmental Energy Corp. to Trade with New Symbol as OTCBB:GEECE
(Source: BusinessWire)
09/20/04 10:09
Global Environmental Energy Corp. (OTCBB: GEEC), formerly know as Life Energy & Technology Holdings, Inc. (OTCBB: LETH), today announced its new trading symbol will be OTCBB:GEECE.
Global Environmental Energy Corp (OTCBB: GEECE), announced that its common stock commenced trading under the trading symbol "GEECE." The symbol change is a result of the implementation of the OTC Bulletin Board (R) Eligibility Rule. Upon the Company's completion of its filed Form 10-K with the Security and Exchange Commission (SEC), the Company should return to its primary trading designation.
Dr. McCormack, President and Chief Executive Officer of Global Environmental Energy Corp, commented, "We are working with the Company's accountants and attorney and intend to be ready shortly to file with the SEC and to continue listing on the OTC Bulletin Board. This is our number one priority of the company. We intend to keep our investors updated on the status of this process, as we have during the last couple months had significant changes that the company has undertaken in the last few months."
About Global Environmental Energy Corp.
Global Environmental Energy intends to become a fully-integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s, unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process.
The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids; and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The company does not spam or endorse spam, and has no control over third party spamming.
SOURCE: Global Environmental Energy Corp.
Global Environmental Energy Corp.
Dr. C.A. McCormack, 877-723-6315
www.le-th.com
ERHC post from another board
By: balance_builder
19 Sep 2004, 07:45 AM EDT
Msg. 63537 of 63587
Jump to msg. #
I remain......
Very upbeat on this investment and its possibilities. The time factors have been downright ugly and our 11 month wait for awards continues. I remain patient as I am informed that any African dealing requires patience and lots of it. Even one (if not the) top officials of the JDA recently told me to "be patient!!!!". This tells me there IS light at the end of the tunnel and some serious dealing is taking place.
It is very important for the JDZ to become a successful round for both involved countries top officials as much attention has been given for these countries to have "worked together" in these diputed maritime waters instead of taking the normal avenue...i.e. of war and fighting. The award of block 1 hardly signafies success as outlined by Norval Scott, an African energy analyst:
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=45051
So what would make this round appear successful to the rest of the world???? A major US oil company involved??? Barry Morgans latest article references XOM particiapation in 3 of the blocks on auction (B-1, B-2 and B-4):
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=62959
Actually, I believe Swingings DD might have found a solution for success as outlined in this DD he posted on 6-30-04:
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By: swinging---k
30 Jun 2004, 10:13 AM EDT
Msg. 44829 of 63536
Jump to msg. #
Summus:
I'm not in my office today, so I don't have access to International Long Distance for free... But based on the last two conversations with Gomes's secratary, These guys are being presured not only to give a Block 2 award, but to have the entire JDZ finalized ASAP, I heard something about the ENTIRE JDZ being formally decided by the end of July...So there must be a shitload of wheeling & dealing going on, which is probably why our pps has been gradually rising... imho all that I'm aware of.
////////////////////////////////////////////////
The above post was followed up by the following post, posted 9-17-04 which indicates perhaps only 3 blocks will be going to rebid:
////////////////////////////////////////////////
By: swinging---k
17 Sep 2004, 09:36 AM EDT
Msg. 63150 of 63536
Jump to msg. #
UPDATE:
PSC for Block 1 is signed.... all parties agreed & inked on the dotted line on Wed afternoon... I'm sure BM couldn't wait to come out with his article... My guy did not want to comment on Block Awards, but said Jokingly "You Americans know everything anyway" & then said "The rebid will only include 3 Blocks." Only 3 blocks will be Rebid!!!! I didn't expect that...
/////////////////////////////////////////////
With the worlds eyes watching how this Joint effort progresses you can bet the parties involved will MAKE it work. Obasanjo, the loudest voice in the effort has another disputed zone that might go the "working together" route instead of war/fighting (Cameron/Nigeria). All said, success is a must and with it looking like XOM got back on the playing field AND a good possibility of up to 5 more awards being released near term, the JDZ effor WILL be determined a success by the oil patch and the worlds eyes. Obasanjo and Menezes will look like hero's and lets not forget the party putting it all together led by our very own Carlos Gomes. Keep in mind, he followed Umar as the chairman of the JDA....so all this extended waiting does not rest on his shoulders.
We have had some good discussions regarding ERHC's revenue potential once oil is discovered and the pps that could follow. Even our head basher Mongo can place high financial rewards for longs if this thing gets out of the starting blocks.
You can bet that Carlos Gomes and the JDA faction are under enormous pressure politically as well as oil industry economics to get awards released. With Libya and Nigeria putting a total of 42 blocks on auction between the end of this month and the beginning of 2005, the dilution of available oil land will diminish the value of the JDZ to some degree going forward:
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=61360
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=60872
There has been some "speculation" that Offor will show and interest in both of these countries EEZ's. If his willingness to bid in the JDZ above and beyond our massive preferential rights is an indication of what he has in mind for our minnow.....I say the chances are very good that he will extend his reach in W. African and beyond. He obviously has a very sound relationship with Obasanjo and is a major political party contributor as well as an African Leadership Forum donator of which Obasanjo takes a lead role in. This entire play is extremely political and those in the the right party will have success. Offor is obviously in the right party and so are we as longs about to celebrate the birth of his new oil company. He (Offor) commented some time ago that you would hear of his oil company. I believe his voice will be heard loud and clear when it becomes obvious his company is going to become a major oil company in a part of the world known to hold world class oil reserves and a KNOWN importance to the energy securing of the United States.
Some on this board cleary disbelieve that the oil could be in production as early as 2006. Malarky I say!!!! If we can get awards released near term (and I believe we will) we have already been told that NBL likely sewed up awards with their committment to a drilling rig to the zone.
"Noble sealed the deal by committing a rig for initial operations in the ultra deep play."
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=59764
If Noble has a drilling rig committed and PXD has one of the records for fast tracking deep offshore oil development (10 month record) we could conceivable have discovery as early as the end of Q-1 2005 and we could be in the production phase as early as 2006:
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=43963
http://ragingbull.lycos.com/mboard/boards.cgi?board=ERHC&read=58035
Oh yeah....this little 3 employee company ran by a proven successful billionaire business man is exactly where I want to put my investment monies. It is screaming of a near term take off. Anytime you put the largest oil consuming nations largest oil company in the backseat to partner (PSC'S) with a no revenue, no equipment company who holds only rights as described in the treaty minnow OTC/BB oil company.....your OBVIOUSLY holding something of great value. Phil Nugent probably said it best in his quote in the LA Time article when he stated,
"ERHC is in the catbird seat," says Phil Nugent, a Houston-based oil and gas consultant and a major shareholder in the company. "We're going to get our pound of flesh and I think we're due it."
Or perhaps it was this expert that said it best in the same article:
"Andrew Latham, a West Africa expert for Wood Mackenzie, an energy consulting firm in Edinburgh, Scotland, says the Sao Tome-ERHC agreement is far out of line with industry standards.
"There are plenty of examples where a small firm will get in early and help promote a country's oil acreage. Their rewards are relatively minor " Latham said. "I've never seen a company get a stake like ERHC obtained in Sao Tome."
Bottom line.....I am convinced I am in the best possible investment available at this time and the long wait will be made worthwhile in a big way.
Time for a powerwalk. 41 degree in MI on this sunny beginning.
Balance
Global Environmental Energy Corp. to Trade with New Symbol as OTCBB: GEEC
Thursday September 2, 10:25 am ET
NEW ORLEANS, La.--(BUSINESS WIRE)--Sept. 2, 2004--Global Environmental Energy Corp., formerly know as Life Energy & Technology Holdings, Inc. (OTCBB: LETH - News), today announced its new trading symbol will be OTCBB: GEEC.
About Global Environmental Energy Corp.
Global Environmental Energy Corp (OTCBB: GEEC - News) intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s, unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process.
The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids; and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The company does not spam or endorse spam, and has no control over third party spamming.
----------------------------------------------------------------
Contact:
Global Environmental Energy
Dr. C.A. McCormack, 866-318-5380
www.le-th.com
----------------------------------------------------------------
Source: Global Environmental Energy Corp.
jmb, great word imo. At this point I can find nothing out from the JDZ/JDA/JMC but I will keep looking and hoping. The article sounded like good news to me to. Go ERHC!
ERHC grabs Nigeria blocks
21:56 GMT
US explorer Environmental Remediation Holdings (EHRC) is back on track for clinching operatorship of blocks 2 and 4 in the Joint Development Zone administered by Nigeria and the archipelagic state of Sao Tome & Principe.
US explorer Environmental Remediation Holdings (EHRC) is back on track for clinching operatorship of blocks 2 and 4 in the Joint Development Zone administered by Nigeria and the archipelagic state of Sao Tome & Principe.
ExxonMobil was this week holding meetings with all interested parties in an attempt to snare a piece of the action despite having declined to bid the acreage when it had the chance in last year's round.
Official sources in the Nigerian capital hinted both blocks were now done deals with ERHC jointly applying with Dallas-based Pioneer Natural Resources for block 2 and with Noble Energy for block 4. Noble sealed the deal by committing a rig for initial operations in the ultra deep play.
Protracted discussions over the award of block 6 are coming to an end with officials on both sides of the Gulf of Guinea keen to get exploration moving after years of delay. Nine blocks were originally offered with operatorship of block 1 awarded to ChevronTexaco with ExxonMobil claiming junior equity.
The remaining six blocks will be thrown back into the hat for rebidding by the Joint Development Authority almost immediately in order not to compromise a parallel deepwater round proposed by Nigeria for its own Exclusive Economic Zone in 1Q 2005.
barry.morgan@upstreamonline.com
1 September 2004, 09:30am ET
NEW ORLEANS--(BUSINESS WIRE)--Sept. 1, 2004--Life Energy & Technology Holdings, Inc. (OTCBB:LETH), today announced that its board of directors has approved a name change from Life Energy & Technology Holdings, Inc. to Global Environmental Energy Corp., effective as of August 30th 2004. The new trading symbol for Global Environmental Energy Corp. will be announced.
Dr. Christopher McCormack, President & Chief Executive Officer of Global Environmental Energy Corp., said, "At Global Environmental Energy, we are building an environmentally responsible global energy company with interests in both traditional oil and gas businesses and in alternative energy sources and their use. To date we have been best known for our revolutionary Biosphere Process(TM) System technology with which we promote the use of sustainable and renewable energy sources whilst extending the lifetime of the world's fuel reserves, coal, oil and gas.
"Our Biosphere Process(TM) System can also use traditional fossil fuels, oil, gas, oil field wastes, shale oil, and sour natural gas as a waste stream for making electricity. This helps to meet World Bank's goals under the Global Gas Flaring Reduction Partnership. These goals are shared by the Governments of Angola, Cameroon, Ecuador, Nigeria, Norway and the USA, and companies such as BP, Shell, Chevron Texaco, Total and Sonatrach and others. Global, which is funded by Diamond Ridge Advisors, is currently negotiating oil and gas interest in Algeria and Libya.
"It is the intention of Global to finalize negotiations on oil and gas interests in Algeria, Libya. This will complement the demand for exportation of our US manufactured Biosphere Process(TM) Systems in these same countries."
News
20.08.2004
EXPECTATIONS that a few more blocks in the deep waters of the Gulf of Guinea would be awarded by mid-August were dashed last week as it became apparent that talks with potential suitors over block 6 between Nigeria and Sao Tome had become bogged down.
However, the Abuja-based Joint Development Authority administering the round under joint Nigerian/Sao Tomean auspices is understood to be determined to confirm key awards by the end of the month.
Operatorship of Joint Development Zone block 1 has gone to ChevronTexaco with ExxonMobil picking junior equity and final terms and conditions for a formal PSC award are expected shortly following negotiations in London this week.
US explorer Pioneer Natural Resources' formal closure last week of a joint JDA participation deal with minnow Environmental Remediation Holding Corporation also bodes well for an imminent announcement on blocks 2 and 4, where ERHC has a priority rights arrangement. JDZ block 2 is understood to be a done deal with would-be operator Pioneer hoping to finalise PSC terms by the third quarter.
Negotiating positions on block 4 are less certain, with Petrobras also showing persistent interest and Noble Drilling actually preparing to commit a rig in the context of its emerging alliance with ERHC for the purpose of bidding the block.
Domestic pressure to "Nigerianise" some aspect of the exercise has increased the likelihood of local independent participation in block 6, perhaps in connection with the Nigerian National Petroleum Corporation. Chinese interest has also been noted with Beijing always keen to expand its portfolio.
Patience on both sides of the water is wearing thin, however. Official talk this week is of giving the process a few more days and if the modalities for awarding block 6 cannot be agreed then it will lumped in with the other five unallocated permits for possible award next year nine blocks were originally offered.
Nigeria is gearing up for a new deep-water licensing round in its own Exclusive Economic Zone, and Sao Tome is loath to see future JDZ signature bonuses diminished by forcing companies to compete with Abuja's licensing schedules.
Following a meeting last weekend between Presidents Olusegun Obasanjo and Fradique de Menezes, there are fresh indications that remaining JDZ blocks may be open for direct tender rather than by open competitive bidding as required by the Statute governing the JDA. Such a move is likely to cause legal controversy and may be subject to a successful renegotiation of the bilateral protocol establishing the JDZ.
The prospect of negotiating directly with the JDA for unallocated acreage would have the advantage of allowing medium to bigger sized players back into the game, having failed to bid the first time around.
The interest of sidelined players would then be rekindled while Sao Tome would not have to accept lower-than-expected signature bonuses.
barry.morgan@upstreamonline.com
mumfy, I think you are right. block 1 is exxon/shell that has nothing to due with block 2 but my understanding is until blk. 1 is completed in full all the I's dotted and T's crossed we get no formal news on blk. 2.
jmb, I have heard that the JMC/JDA has not release any information. I guess we are on hold till the news comes out.
Form 10-Q for ENVIRONMENTAL REMEDIATION HOLDING CORP
http://biz.yahoo.com/e/040816/erhc.ob10-q.html
mumfy, so nice to see you on IHUB. We are always looking for more related articles on ERHC and the Africa oil area. I guess now all we can do is wait till more news is out. Please keep posting all you find. Thanks.....
Gig, I consider Barry to not be very kind. So far he has been pretty right on but not to kind to ERHC.
Gig, nice web links add for ERHC. Good job.
Good find and thank's LowBrow, keep hunting for more great news.
You are so right. I stand corrected. lol
Hi Gig, see RB 55261 per your request it has been done and all long's invited to IHUB with link. You were quoted...Go ERHC! By the way ERHC news must be leaking out I just can not find it yet.
News must be leaking out, vol. up price up. Go ERHC Go!
No news out that I can find. Today's Volume: 442,115
Avg Vol (3m): 1,058,590. Very little trading going on till more news is out and everyone is hoping that news will be this week. Best of luck to all.
The Biosphere Process™ is a revolutionary waste to energy process offering the potential of small-scale micro power generation, on a town-by-town scale, using as its energy source waste streams provided by industry, medicine, agriculture and local municipalities.
The recycling of the calorific content of municipal solid waste (MSW) saves money for municipalities and other generators of waste and provides an efficient method of disposing of waste ecologically and economically, while simultaneously extending, by use replacement, the lifetime of finite fossil fuel reserves currently employed in electricity generation.
JDA closes in
23:02 GMT
FOREIGN suitors awaiting a decision by the Abuja-based Joint Development Authority (JDA) to licence the deep water in the disputed Gulf of Guinea should know the outcome before the second week of August.
The Joint Ministerial Council will meet to formalise the awards, which sources this week indicated have already been decided.
As expected, ChevronTexaco gets 51% of block 1 while US minnow ERHC and Pioneer Natural Resources get 60% to 70% of block 2 and slightly less in block 4.
barry.morgan@upstreamonline.com
Diamond Ridge Advisors, Inc. Files Amended Schedule 13D/A on Life Energy & Technology Holdings, Inc.
Tuesday July 27, 12:33 pm ET
Filing Discloses 20% Ownership of Life Energy & Technology Holdings, Inc. Affirming its Intention to Acquire an Additional 20% of Life Energy & Technology Holdings, Inc.
BOONE, N.C.--(BUSINESS WIRE)--July 27, 2004-- Diamond Ridge Advisors, Inc. announced today that they had filed a Schedule 13D/A with the Securities and Exchange Commission. The schedule 13D/A, filed July 27, 2004, states that Diamond Ridge has notified Life Energy & Technology Holdings, Inc. (OTCBB:LETH - News) of its intention to acquire an additional 20% or 6,546,228 Shares of Life Energy common stock.
Diamond Ridge has been a financial supporter of Life Energy in the past. The intention to increase their holdings reinforces the commitment of Diamond Ridge to the direction of Life Energy and their confidence in the executive management team at Life Energy.
About Diamond Ridge
Diamond Ridge Advisors, Inc. is a North Carolina corporation whose principal business is investment in the securities of private and public companies.
About Life Energy Technology & Holdings Inc.
Life Energy (OTCBB:LETH - News; http://www.le-th.com) is rapidly becoming a leader in the environmental infrastructure and electricity generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM), supplies energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The company does not spam or endorse spam, and has no control over third party spamming.
----------------------------------------------------------------
Contact:
Life Energy & Technology Holdings, Inc.
Dr. C.A. McCormack, 866-318-5380
www.le-th.com
----------------------------------------------------------------
Source: Life Energy & Technology Holdings, Inc.
27-Jul-2004
Other Events, Financial Statements and Exhibits
ITEM 5. OTHER EVENTS.
The Company has been notified that Diamond Ridge Advisors, Inc that they intendto acquire an additional 20% of LETH and have filed an amended 13-D.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit No. Description
----------------------------------------------------------------
10.1 * SCHEDULE 13D Report of Acquisition. Dated and to be filed July27, 2004
22.1 * Press Release Dated July 27, 2004
Platina,
Nice to see you on IHUB. Thanks for the post.
Last Trade: 0.90