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"""""I still believe, despite lots of delays and lack of news when we want it, that the company and it's management is working in the right direction and doing what they are allowed to.
Insulting someone without knowing all aspects is prove of a very low IQ to me.Acting friendly and respectfully (even when one does not agree)moves mountains.""""
Great post TamTam ...right on the money.
His source? The tiny voices inside his head........
Yawn....you're never right.
Ok SSC....
Here's some recognition for you.....
My niece got a 95 on her test at school.....they gave her a little gold star. I'm now going to put on a little piece of paper..."SSC said ERHC was going to go down...."...and I'm going to put it on the fridge next to the 7 year old's test. Happy now?
Hey Claude.......
A couple of years ago it was the end of the world when we dropped down to the teens.....but it wasn't the end of the world.....and I bought only a little at those cheap prices. I'll pick up a lot more the next go around.....
When you think about it, we're kind of in the same position we were back then.... Waiting on drilling(Phase II). The price is going to drop over the next couple of months..then around late July-August..the sp will start picking up.
Figure about 7 to 8 weeks to load up on cheap prices......
SSC....
Every time you post, you pat your self on the back. I'm quite shocked you haven't broken your arm yet. The fact is, nobody cares what calls you made in the past.
If this stock goes to 10 cents, I will do my best to pick up 100,000 shares.
I never believe your numbers robjer.
Geez Amj..stop your whining already.
Thanks Retep....
If Sinopec commits to phase two.....the oil is there. No doubt about it! :)
Gas and Oil....it all sounds good to me!!!!!
The Oil is there baby...and it seems a whole lot of it! :)
"""NSAI made a Best Estimate of Gross Unrisked Prospective Resources
of 1.3 billion barrels of oil and 1.9 trillion standard cubic feet of gas in total in the 10 identified prospects (Table 2).
The subsequent evaluation by the operator differs in detail with regard to the definition, size and ranking of the prospects from the NSAI evaluation. For example, the operator identified 18 structures. Their estimate of total unrisked prospective oil-in-place is 3.9 billion barrels and of unrisked prospective gas-in-place is 8 trillion cu ft, both at the P50 level. These figures compare with NSAI’s Best Estimates of unrisked prospective in-place volumes of 4.7 billion barrels for oil and 3 trillion cu ft for gas""""""
."
Hey SSC....The best part of your last post....
"""I won't be posting here much anymore......."""
WooHoo!!!
Hey Krom,
Thanks for that philosophical treatise...it reminds me of an old joke....
What's the difference between a person with a degree in philosophy...and a pizza?
A Pizza can feed a family of four.
Thank you. I'll be here all week...don't forget to tip your waitress.
I see that Badog is up nice and early on a Sunday doing his usual business......sowing the seeds of discord.
Sonangol to explore oil in São Tomé and Príncipe
3/4/10 7:18 PM
Luanda – The Angolan Oil Company (Sonangol) might join a consortium to explore oil in São Tomé and Príncipe, in cooperation with the Portuguese firm (GALP) and local “Petrogás”.
The information was supplied to Angop Thursday in Luanda by Sao Tomean MP, Aurélio Martins.
According to the source, the Government of Sao Tome has proposed to the governments of Angola and Portugal, to engage their respective oil companies, Sonangol and GALP, in the consortium that will explore oil in the Exclusive Economic Zone.
Aurélio Martins explained that there is another exploration zone between Sao Tome and Nigeria, that will not be covered by the consortium that will be established for the purpose.
On the other hand, the Sao Tomean MP said his country’s Government floated an international tender for the exploration of crude oil in the Exclusive Economic Zone.
The MP defended the participation of Sonangol in the tender both for being Africa’s greatest oil company and the prestige and credibility it has won.
On the other hand, Aurelio Martins congratulated Sonangol on its 34the anniversary, on February 25.
Great Job Loki. :)
ugh...not wasting my time on you...or Badog....or any of the "others"
.
$1.40
Thanks Longtimer.............
From the article........
""In August Sinopec drilled the Bomu-1 well on Block 2, which has unproven reserves of 274m barrels of oil, and reportedly discovered some oil along with substantial gas reserves. This was followed by the drilling of the Kina-1 well in Block 4 and the Lemba-1 well in Block 3, which have combined unproven reserves of 642m barrels of oil. According to press reports two large gas reservoirs were discovered on Kina-1, leading to estimates of 1trn cu ft on the block, while large reserves were also discovered on Lemba-1. Two more wells are currently being drilled in Block 4, Malanza-1 and Oki East, amid speculation that a further well will be drilled south of Kina-1 to determine the extent of the gas find.
The success of the drilling programme has boosted the prospects of the JDZ, which had been clouded since Chevron's disappointing results from drilling in Block 1. At the time it was assumed that Chevron's find was not commercially viable, but the discovery of substantial gas reserves in the adjacent JDZ blocks has fuelled speculation that Block 1 could contain gas reserves of at least 1trn cu ft-a sufficient quantity to justify the expense of extracting it."
Hey Razor.....
Hoping ERHC provides both you and I a birthday weekend to remember for years to come! :)
Great drilling results would be an awesome present for my 40th birthday! :)
Krom,
You're absolutely right. In this economic climate, T-Bills are definitely not the place to be. ERHC is following the old Mark Twain adage...""I'm more concerned about the return OF my money than the return ON my money."" Smart move by ERHC.
Midtier....if you think T-bills are a good place for ERHC to place its money....then you're not paying attention to the economic World around you.
Thank goodness you have no role in the running of ERHC.
Hey all.......
The link is below...$34.00 for a download of the report
Report title: Spo TomT and Prfncipe industry: JDZ drilling promising
from EIU Country Analysis
138 word report published Jan 15, 2010
Price $34.00 available for immediate download
Report Overview Search Inside About EIU Country Analysis
FROM THE ECONOMIST INTELLIGENCE UNIT In August Sinopec drilled the Bomu-# well on Block #, which has unproven reserves of ###m barrels of oil, and reportedly discovered some oil along with substantial gas reserves. This was followed...
http://www.alacrastore.com/storecontent/eiuftxml/VW_VW_MAIN_20100115T151500_0013
Yes...way too fast! ;)
Hopefully everyone can partake in ERHC's good fortune when the time comes. :)
My 40th Birthday is March 7th....company news would be a heck of a present!
Hey Try...got your PM...I totally agree.
Hi Spp.....
You posted.....
""In the four+ years I have been in ERHE, he has always given out information that was either partly wrong or partially complete. The man does not lie.""
Concerning the information your source gave out, did you post the information on the board? What information was it exactly? Just want to judge for myself the accuracy of the information.
Hi SPP,
Ok SPP....you have a source and Mark G has a source. Mark's source says there is oil...and plenty of it. Your source says there is gas...and plenty of it. Obviously, you both can't be right.
Now, Mark has made several calls on this board, and while the timing may have been off on some of the calls, his source, for the moast part has been dead on the money.
So SPP, can you please refresh my memory. This source you have...the one that claims that mostly gas has been found......can you please provide me with the OTHER "predictions" you have made on this board based on his/her information that have come true?
In my mind its simple. For the benefit of the board, I think its best to see the track record of your source. The source that has the better track record....that's the source that should be trusted.
If you don't mind....I like to take a peek too...:)
Great Stuff Michigan.....
I have a request...
When we hit a dollar....could you sing "Do you know the way to Sao Tome? (instead of San Jose :)..)
Thanks for the chart Clay!
Yep...Great job by Mark G!!!!
Hey Retep.....
Bright Spot........
1. n. [Geophysics] ID: 656
""A seismic amplitude anomaly or high amplitude that can indicate the presence of hydrocarbons. Bright spots result from large changes in acoustic impedance and tuning effect, such as when a gas sand underlies a shale, but can also be caused by phenomena other than the presence of hydrocarbons, such as a change in lithology. The term is often used synonymously with hydrocarbon indicator.""
Hey Retep....
In my opinion, the people who are trading now are the daytraders who have been flipping this stock all year, and are now selling shares for tax purposes. The daytraders don't think long term.....look at ERHC's chart....this seems to happen every winter....followed by a spring rally.
Another month or so, the selling will stop, the sp will stabilize....followed by the spring rally. Of course, any major news in the next few weeks could start the rally sooner. :)
Hey Lugs...and everyone....
The reason why ERHC is going down is the same reason it seems to go down every year around this time.....for tax purposes. You have plenty of people who own this stock who flip it constantly during the year...and they're selling shares at the end of the year for tax reasons.
All we got to do is hang on for four more weeks.... the 2010 spring rally is going to be a monster!! :)
Topshelf...just wanted to pass along my condolences on the passing of your father in-law.
Well done BB!
Great post Jim.