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Unfortunately time is not our friend at this point! LOL or ;(
yep, its official. Your all day beverage of choice is Mogan David wine! Did you know that stuff will make you go cross eyed? Or start thinking of conspiracy theories?
Excellent DD! Should be sticky posted.
If they are partnering with the other company it would be our business. I can't imagine owning 50% of a block and not have to partner with the other 50% holder. If that was the case they should have cut the block in half. 50% means you are sharing the block with someone else which means a partnership.
Notice they still do not mention who has the other 50% of Chari Block 3. This company makes me nuts! What is so secretive about that?
Well said!
If I were PN and I wanted to help the sp and throw a bone to the investors I would be in the back pocket of the Nomad daily to get them to move along on the listing. This is taking entirely too long. The real reason for the delay is the Chinese do not want us to release the NSAI report and competent persons report and that is what would have to happen if the listing is approved.
Welcome aboard! I think you get a gold star for your first post! This is an information starved board and that chat was just an appetizer. But, it still gave confirmation of the blocks and that there will be things happening soon (whatever soon means on this stock). I am remaining cautiously optimistic. I was disappointed at first but now that I have had time to digest the chat I will back up to a wait and see mode. Been waiting for 7 years. Can wait some more.
I have a suggestion for you but I cannot put it on here!
I asked about 8 questions and he only partially answered one. I am afraid the sp will drop again tomorrow. His smiley face has worn off on us longs. All we got tonight is lawyer speak. He should be excited because he is pulling down $280,000 bones a year while jet-setting all over the world on the companies pennies. His answer about the company surviving for years before the sale of some of the assets is BS. They only way they survived was thru SEO trading cash for stock. They have not slowed the burn rate by much and now we have to fund exploration expenses in Chad! Can't wait to see how far we have to bend over on that one. And to think I was actually looking forward to this chat! There goes that damn carrot again.
anybody have the subscription so we can see what they put out? Maybe they disclosed something they should not have.
NICE!
problem is DK is on vacation so you cannot send him questions now as you get and "out of office reply". we should have a collective list of questions here that someone can be the moderator over and submit them during the chat to see if they will be answered.
My questions would be " can ERHC put a map on their website that shows the location of the Chad Blocks and any surrounding developed fields so that it can show proximity to neighboring oil?
DK is on vacation this week. Wonder who is going to moderate the chat?
apparently it is at the point where the money man jumps in to make the deal work financially. I am sure they have used the legal team that is already in place and the tech team (bovel,Blair etc) to make sure the verbage us correct.
kwonski
If you zoom in to the gulf area where the jdz is you will find that it has an oil discovery in block 1.
I have been looking for any drilling depth info but cannot find anything.
Just as long as it is not Sinopec or any Chinese oil company for that matter!
anyone know anything about Chad properties? Is this on land or shallow water? Hope they don't have Biogenic Gas there also! LOL If this is on land the drilling would be significantly less and would take little time to get to drilling stage. Can't wait for more news on this one.
No all oil stops at our blocks. Only Biogenic gas can be found in our blocks apparently! :(
I will not be able to attend as work will not allow but if you could point out to him that the sp is where it is because they will only say worthless Biogenic gas was found in the five wells. See if he will say if anything else was found in the other sands. How long does it take to analysis Biogenic gas? Otherwise he did try to sound optimistic. I hope the properties he is talking about are producing so we can get this pig kick started!
what pr today?
obviously you have not kept up with the board or chose to ignore all the posts that discussed the sinopec website and their proclamation on block 2 being commercial. Why they do not develop it is the question. Maybe they are wanting to tie into Total's network at Akpo. Who knows. The only known thing for absolutely sure is that Sinopec knows what is there and is not telling anyone. You can read sign all you want but the same facts remain. They have not pulled out. They obviously have the approval of the JDA to continue in quiet mode. ERHE has hired more people. Why would they do that if nothing is there? The way I read it is this still has a lot of waiting to be done. But the wait could very well be worth it.
Lots of uncertainty is a given only because Sinopec has chosen to keep it that way. I do find it hard to believe that they cannot find oil when the original estimates by PGS was 14 billion barrels for the zone. That is why I am still here. I do not have a special pair of glasses that can read thru the smoke and mirrors. We can all speculate until the cows come home but speculation is like assuming and we all know what that means. I still believe in the assets and am galled that the real truth is so evasive. Who do you believe, Dana Gas or Sinopec? We certainly cannot believe our management. They are as slippery as the governor in "Best Little Whorehouse in Texas". A good friend that has been in this stock since it's inception told me to put the stock under a mattress and forget about it for a while. He figured it to be a 5-8 year play 7 years ago. He may be correct after all. Hopefully we will see come Jan/Feb if Total announces its findings on the well/s it will drill. That is what we have to cling to as far as hope for the future.
I finally agree with you on something! LOL. The trading is puzzling. I would have thought that we would sit with very low volume for the next 5 months. I wonder who is selling at these prices? My average is .54 so this would kill me if I sold here.
Uh, it was "tongue in cheek" dude. Not meant to be serious.
Now if we can just figure out how to make oil from all that Biogenic Gas we could all be millionairs! I guess the prez thinks that is possible other wise where would the oil be coming from? Certainly not from our blocks. ERHE says we don't have oil. Wonder if someone is hiding something from our management? Wait a minute, maybe he meant it was coming from just block 1. But isn't that supposed to be non-commercial according to Chevron? All this subterfuge is making me start to think like Krom. Or it could be that I am getting senile after all these years of riding this roller coaster! LOL
He also conveniently forgets about the report on Block 2 on the Sinopec website that said it found oil and gas and was commercial. Why ERHE has decided to ignore the operators website proclamation is beyond me. I have felt all along there was going to be an umbrella company to develop the whole JDZ. I think we are looking at the development stages of that action. Remember, if there was no oil found then why did they drill a third well in block 4 that was not on the original plan? They could have just moved over to the block that they share with Starcrest (OPL191)? and drilled there. The silence is maddening on this stock and the sp makes me want to bust something up but the fact remains that the assets have not changed, the principals have not sold (that we know of) and ERHE has added more people to the payroll that are well respected in the field. Something is up and we all know it. That is why we are still here. It is an excruciatingly painful wait but hopefully it will be worth it in my lifetime.
lol, I've been in this stock longer than you have been in diapers! I am just as frustrated, maybe more, than most everyone on this board. I have put in my time. When you have put in a third of the hours of DD in this as I have then you can speak up.
don't bother to reply to him. He is just baiting people as usual to cause trouble. He does not even own this stock.
Where do we sign up for the class action lawsuit?
Will do. Thanks for the update. Prayers for BB and his family as he overcomes the terrible sickness he has endured. May he heal completely and swiftly. S2R family.
plus does Exile want to deal with the Sinopec black hole and sandbagging?
someone must have gotten wind that ERHE now has shares in the company and automatically undervalued the company! LOL or :( for them
Krom there is a huge difference in proven, probable and possible. Like 1 Billion barrels from proven to possible. That could raise the stakes considerably.
ROFLMAO! Way to go Umbra!
Well said Farrell. And Badog does not think management lies. The only ones that can say what is found is the operator and Sinopec is the operator and they did state on their website Block 2 Bomu I is commercial. Enough said. Time to kick the cur to the curb.
I know. That is why I think they are trying to blow Biogenic Gas up our wazoo! To even suggest that is all they found is an insult to our intelligence! I never once believed that is what they found. The amount of time they are taking to "Analise" it proves my point. They are trying to work out how to best develop the whole zone in my opinion. Having our full ride has to be plugged into the cost equation. I have a feeling the exorbitant amount of money that has been spent by ERHE each year is due to lawyers trying to make sure we aren't going to get pushed out in some way. I think SEO is making sure he gets his payday come Hell or High water.
Julias, take that a step further. What are all the different "surprise" possibilities that they could possibly be happy with "Les Blairs words"?
1) T-Gas
2) Condensate
3) Oil
4) Methane Hydrate
5) Diamonds (lol)
Those are all that I can think of that could be worthwhile to keep the blocks for development. The question is "is there enough quantity of any of the five to make it profitable to dig them up?
We all know Biogenic gas is worthless. But they are still not going to give up the blocks. Must be one or more of the five above there that is having them spend so much time and analysis trying to figure out how to best get to them. My bet is they are waiting on Total to drill block 1 again so they can share information on the gigantic pool that ties AKPO and the JDZ together. You only keep top secrets if they are so good that you don't want anyone else to find out about it until you are ready to release the information. I believe we are stuck under this cone of silence until the real truth is revealed. If we all live long enough to see this play out we could be sitting on a deal of a lifetime. Only time will tell.