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DANG!...sold out back in October.....just now checked it.....now 20 shares for a dollar...I'm Back in!!!
Sold out of ERHE Friday.......through the relentless posts of certain individuals, I have "seen the light" and after 10 years I am moving on....best to all.....might buy back in if it drops to 2-5 cents...hope for the rest of you that it does not, but with every piece of information being negative, it was time to pull the trigger......figure that this will get deleted so I have copied it to re post several times until I get banned!
I agree, it is also frustrating to read posts by investors that feel that they know every detail of what is going on in both the board room and in private negotiations and then play arm chair quarterback for the company and have their own PR efforts that tend to subtract value from the company....
Yes most companies don't talk about the bumps in the road, just the advances that are relevant to adding value to the stock.
NOT EMPTY.....reports of petro exist
Not sure about that...just look at track record all the way back to initial seismic of JDZ...
I agree with middy (never thought I'd say that over the past year LOL)....ERHC has a history of being a negotiator of treaties and PSCs and MOU's and partnerships...to EVER think of ERHC as an operator defies who they have always been....no one can deny that they are developing a portfolio of potential fields (much like the JDZ has always been)that may someday be sold as a package deal or individually..........
How much money is ADDAX fronting.......that would be the question
I don't believe that TOTAL owes any meter by meter information to ADDAX/SNP ...I'm sure ADDAX will receive some completed report at some time, but to think TOTAL would daily brief ADDAX on their drilling operations I do not think is realistic IMO
Why would SNP be getting meter by meter update?
Total is doing things right and will succeed as they have a comprehensive strategy and success rate in the area....develop methodically an area including an FPSO...bringing a new field to revenue producing quickly.....Chinese are simply watching and learning about deep water!
That IS the big question!!!!!.........in talking with industry folks,30 days is not enough time.....and 63 days may not have gotten them to the depth they were needing to get to in the first place....we will not hear anything about BLK 1 till October at the least....
They are drilling two Wells and may not necessarily have finished the first one yet....
I could see where geography and not just geology would play into SNP desire to leave BLK2...... especially if the development strategy in this region seems to be the use of FPSO rigs....the real prize is BLK4 under the present production strategy which Total has down to a science and SNP would like to emulate!
Total also wins in BLK1 with its fields to the north...perfect for FPSO strategy
Please exercise moderation in the speculations...its fun, but we have been down that road too many times.....I was a much younger man when I first jumped into this and have learned to temper all of it
HERE WE GO AGAIN!!!... whats the motivation?
.mromro
Thursday, September 16, 2010 2:41:38 PM
Re: mz157 post# 222655
Post # of 258254
No I don't own shares in ERHC. I stumbled onto this board in the course of my background research. To be honest some of the stuff posted here is good but most of it is not the kind of 'information' you ought to consider to base investment decisions on.
Remember: anyone can post anything for any reason on this board!
Thanks for info.....batching is the key to BLK 1 for total....On 20 March 2012, Total spudded Enitimi 1 deviated wildcat well in Block 1,
Tying two fields together allows Total to develop and explore at the same time and quite possibly develop a much larger area of production.......an area that will need an FPSO in the future!
PLEASE FOLKS....DON'T DO THIS TO YOURSELVES...What would TOTAL report other than they were involved in drilling...I DO NOT EXPECT RESULTS TODAY ON THE TWO WELLS IN BLK 1......YOU MAY BE SETTING YOURSELF UP FOR EXTREME DISAPPOINTMENT
I WANT GREAT NEWS TOO...BUT PLEASE BE REALISTIC...HOPE I AM WRONG!
I WOULD NOT EXPECT ANYTHING FROM TOTAL ABOUT JDZ BLK.1 TODAY... OTHER THAN THEY MIGHT MENTION DRILLING IN PROGRESS!!!!..Do we know if the TOTAL's wells are completed?.... sat on plane with a guy coming home from a deep water drill ship off of Angola ....asked about well drilling times and he said 60 days is not unusual for a well NOT counting casing time......I DO NOT EXPECT ANYTHJING FROM TOTAL TODAY...WE NEED TO RELAX
Would be nice to see a couple of those FPSO in the JDZ!!!
Single best post connecting real dots that reflect my thoughts and keep me vested in this company....Should be the basis of a PR Piece (Dan) or an news worthy article (Barry)....thanks for the excellent post
Actually talked with a live human voice at the Nigeria Sao Tome Joint Development Authority around 9am this morning!
Nice to know the office is inhabited.....
Asked about blk 1 drilling, was told to put question in writing to the chairman......
That was it.......but there are people there!!!
Well, you can't argue that with Oilphant and MArkgovols we at least had more information than we have now!!!...Not going to argue what kind of information just saying more of it>
AWESOME
OIlY....GOOD TO HAVE YOU BACK!!!.....been missing the riddles and prognostications!!!!......bring 'em on!.... you don't owe anybody any explanations!!! Always get a rally with OILY!!!
ERHC at 10 for a dollar is still better than any lottery ticket at a convenient store!!!
Good Post....that really helps....wonder what would happen to share price if each investor were to (hypotheticlly) purchase 25% more shares now!
Spud Date
The day when the drilling bit penetrates the surface utilizing a drilling rig capable of drilling the well to the authorized total depth.
If Total develops JDZ BLK 1 like they did the USAN field...complete with a FPSO.....its game on in JDZ!!!!
$200 MILLION divided by $650,000 per day for drill ship gives Total 310 working drill days....310 divided by 45 drill days equals 7 wells.....in blk.1 only?????? I think not!!!
Total to take $200m plunge in Sao Tome of approximately $200 million," the news wire quoted le Cocq, a managing director at Total, as saying. The news comes after authorities said yesterday that indications of 'commerically viable' oil had been found in the exploration block. Total said last year that it had acquired Chevron's 45.9% interest in Block 1 in the JDZ, which it will operate in partnership with Addax Petroleum, Dangote Energy Equity Resources and Sasol Exploration and Production Nigeria. The oil Newspaper - upstreamonline.com 01.12.11....... reprint from upstream online
About the PS... it is also just as likely that it remained in the Usan field to drill one more well of which they are 20+ days into with the potential for being finished (30 day well) and moving to set up in JDZ by the stated timeline......maybe ...not sure of relocation and set up times...
90% of whats on this board is speculation and dot connecting....studied the supply ships and the underwater pipeline laying rig that connected the well to the USAN FPSO.....do I have definitive knowledge...NO....am I connecting dots ...yes
How do you know it did not?
What happens to ERHE stock price if an announcement by TOTAL of oil (commercial or not in Blk 1)......announcement would come after March 27 deadline for proxy......hummmmmmmmmmmmmmmmmmmmm....might need to add at the 10 shares for a dollar price!!!
A buyout based on another well in JDZ BLK 1 ?.....If the results of PS spudded well by Total in BLK one is "commercial", then .75 per share buyout is possible......By EASTER?????... well, that's like talking about a no hitter in the 8th inning!
I would agree with your logic of TOTAL contracted PS in JDZ block 1 at this time.....3 weeks ago the PS finalized a well in USAN field, moved 1 Km North "anchored" and was visted by multiple supply ships then all data from that region ceased to be transmitted.
I have speculated that the Maritine Traffic site is monitored for security reasons and there may have been an inordinate amount of hits in that zone and the transmissions stopped.
Anyway, I would not be surprised to learn they have been drilling for a week and a half or so
20 days ago the PS was in range as well as 40 other ships working the USAN field....not out of range,switch turned off or malfunction!
According to Maritime Traffic the reason no info is coming in from PS is that either the area transponder is not functional or ships crews have turned off transmission....it would appear that the entire area is without coverage at this time all the way to the JDZ EEZ
We could start a rumor that Pirates had taken the PS over (as well as every other ship in the area)and "force" at least Pacific Drilling to state that all is ok with their multi-million dollar drill ship and maybe reveal its location