What is the size of the market that $AVXL is targeting with 2-73?

Looks like someone is headed to the woodshed. Well done Mr Sullivan!

Q this week??? Maybe a nugget or two?

OT- yeah, hard to hide in that terrain. Should be fun trying.

OT-Brez

Would you happen to be in the cyod area in the next couple weeks for MF?

If I am figuring this correctly it should take 40 - 45 flight hours to complete the FGT. Less than 2 weeks at 5 hrs/day. Looking forward to hearing about the results next month sometime.

Fugro Airborne,

Just a guess.

Does the PIB apply to the JDA?. I thought the Authority was independent of Nigeria and STP.

This map, put together by PGS apparently, shows the seismic done as of Sep 09.

http://stp-eez.com/DownLoads/Posters/POSTER-8_EEZ%20BLOCKS.pdf

PGS has entered into an exclusive agreement with the Government of Sao Tome and Principe to assist them in promoting their offshore acreage in future license rounds.

PGS will acquire and market high quality 3D seismic data ahead of future Sao Tome license rounds.

http://www.pgs.com/Pressroom/Press_Releases/PGS_Selected_to_Promote_Licen/

No. Market is closed Friday.

Interesting scenario Brez. If the ratio is as you suggest that would be C5.28 – or – 4.55 US/10 ERHC shares. Not bad (no risk), but a long way from what we could see with the risk and time. I think this would be acceptable if it’s only for our JDZ 2, 3,and 4 assets.

Herk

SinoPec also confirmed that it was negotiating an acquisition with Addax, a Canadian oil exploration company. That transaction is expected to top $ 8 billion, although the two sides have yet to reach agreement on a deal. Addax, which is listed in Toronto and London, had production volumes of about 1.365 million barrels / day last year. At the end of last year, the company boasted reserves of 537 million barrels and total assets of $5.317 billion. The company’s Nigerian oil assets have drawn particular interest from China's oil companies in recent years.

http://www.chinastakes.com/story.aspx?id=1283

Order cancellation may buffet Aban Offshore
Jun. 10, 2009 (The Hindu Business Line) --

BL Research Bureau

According to a press update by ERHC Energy Inc (OTCBB:ERHE) , the Houston-based independent oil and gas company, the contract for Aban Abraham, the company’s deepwater oil rig, with Addax Petroleum Corporation (OOTC:ADXTF) (TSX:AXC) of Canada and Sinopec (NYSE:SNP) in West Africa has been cancelled “after enduring repeated delays on the ship”.

ERHC Energy said Addax had announced that it has cancelled the contract for the ship and hence it was no longer a part of its exploration plans in the region. ERHC Energy holds a 19.5 per cent interest in the Joint Development Zone Block 4 (160 km offshore in the Niger Delta) and a 22 per cent interest in JDZ Block 2, where Addax and Sinopec are operators respectively.

Aban Offshore, however, is yet to announce this development to the Indian stock exchanges.
Loss in revenue

Aban had earlier entered into the drilling contract with Addax and Sinopec for the deployment of the drill ship Aban Abraham offshore West Africa.

The contract was for five firm wells and five optional wells for a day rate of $401,000.

The estimated duration of the contract was 300 days for the firm wells, with an extension option of up to 600 days in case the optional wells were declared.

The latest development will have negative implications for Aban Offshore’s revenue prospects, and could reduce potential revenues by between $123 million and $246 million.

Besides, with oil and gas companies cutting down on upstream capex, it may be challenging for Aban to quickly replace this contract at competitive rates.

The asset, however, is currently under a one-year contract with Pioneer/Kosmos at a day rate of $325,000.

The Addax contract was slated to begin only on completion of its current commitment.

Nice move today, but this is nothing compared to what I expect to see from time to time in the future.

Some more exposure for us overseas-- with the symbols included.
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http://www.thehindubusinessline.com/2009/06/11/stories/2009061151931000.htm


Order cancellation may buffet Aban Offshore
Jun. 10, 2009 (The Hindu Business Line) --

BL Research Bureau

According to a press update by ERHC Energy Inc (OTCBB:ERHE) , the Houston-based independent oil and gas company, the contract for Aban Abraham, the company’s deepwater oil rig, with Addax Petroleum Corporation (OOTC:ADXTF) (TSX:AXC) of Canada and Sinopec (NYSE:SNP) in West Africa has been cancelled “after enduring repeated delays on the ship”.

ERHC Energy said Addax had announced that it has cancelled the contract for the ship and hence it was no longer a part of its exploration plans in the region. ERHC Energy holds a 19.5 per cent interest in the Joint Development Zone Block 4 (160 km offshore in the Niger Delta) and a 22 per cent interest in JDZ Block 2, where Addax and Sinopec are operators respectively.

Aban Offshore, however, is yet to announce this development to the Indian stock exchanges.
Loss in revenue

Aban had earlier entered into the drilling contract with Addax and Sinopec for the deployment of the drill ship Aban Abraham offshore West Africa.

The contract was for five firm wells and five optional wells for a day rate of $401,000.

The estimated duration of the contract was 300 days for the firm wells, with an extension option of up to 600 days in case the optional wells were declared.

The latest development will have negative implications for Aban Offshore’s revenue prospects, and could reduce potential revenues by between $123 million and $246 million.

Besides, with oil and gas companies cutting down on upstream capex, it may be challenging for Aban to quickly replace this contract at competitive rates.

The asset, however, is currently under a one-year contract with Pioneer/Kosmos at a day rate of $325,000.

The Addax contract was slated to begin only on completion of its current commitment.


--Herk

HDY shot up today and finished strong on 13X average volume after announcing that they are talking to several potential JV partners for their offshore RoG property.

We should do well when our time comes. Once the announcement for drilling, in either block 2 or 4, is made I expect we will be seeing positive news on a regular basis.

herk

Addax is advertising for a JDZ liaison officer for Block 4 and serveral other positions.

http://www.miscojobs.com/jobs/job_383864.htm


Job Duties/ Responsibilities/ Accountabilities
* Has interactions with JDA as necessary to establish company and host community harmony and professional atmosphere.
* Keeps continual update of Government policies relating to community relations affairs ensuring adherence to regulations and company policy.
* Liaise with host communities to ensure open communication between communities, Addax Petroleum management, and social project contractors.
* Liaise with other operator’s representatives to solicit opinion and advice on common interest issues.
* Coordinates relevant correspondence between relevant government agencies, host communities, Addax Petroleum personnel/Departments, and JDA.
* Communicate the need for safety, compliance, and environmental protection to host communities and social project contractors.
* Applies rigorous data management procedures.
* Measures progress against the work schedule at regular reviews.
* Provides necessary technical support to, and to interface with, colleagues in other disciplines in Addax Petroleum Technical and Financial Departments.
* Provides mentoring to less experienced staff as appropriate.
* Participate in Operational Duties outside office hours as required

Must be true

sailing today

MSC Stella, San Alessio, Safmarine Oranje, Tai Harvest. Fairchem Charger, Boundary, Wappen Von Bremen, Woen Yu Chang 6, Aban Abraham

http://ports.co.za/shipmovements/capetown/article_2009_04_2_4249.html

This news suggests Addax could be the bidder for Bowleven. Could this speculation have been the reason for the high sp earlier today?

http://business.scotsman.com/energyutilities/Bowleven-shares-soar-on-.5086568.jp

Addax Petroleum attracts interest from Asian suitors

http://www.reuters.com/article/marketsNews/idAFPEK5148320090213?rpc=44

Addax Petroleum attracts interest from Asian suitors -sources

http://www.reuters.com/article/marketsNews/idAFPEK5148320090213?rpc=44

Sao Tome and Principe: Start of drilling for oil exploration by Addax delayed until the end of 2009 [ 2008-12-26 ]

http://www.macauhub.com.mo/en/news.php?ID=6628

Brazil state oil company Petrobras postpones spending plan amid price volatility

http://biz.yahoo.com/ap/081219/lt_brazil_petrobras.html?.v=1

The minimum distribution for 2008 remains, but the 2009 requirement is waived.

Treasury to Seniors: Drop Dead
IRA owners must act quickly to take required 2008 payouts.
http://www.kiplinger.com/features/archives/2008/12/treasury_to_seniors_drop_dead.html

That should have been 10K.

For those who are impatiently waiting for the 10Q--

http://www.sec.gov/cgi-bin/browse-edgar?company=environmental+remediation&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

Addax to aquire Bowleven??


Bowleven will seek approval to issue up to 250,000,000 new ordinary shares at an extraordinary meeting following the general meeting on December 11. Last month, Hart declined to comment on speculation that a rival, Addax, might bid for the company.

http://www.theherald.co.uk/business/news/display.var.2474150.0.Directors_buy_shares_at_oil_and_gas_independent_Bowleven.php

The TSX has a much different definition (than the SEC does) of "material" information that requires reporting.

“Material Information” – any information relating to the business and affairs of an issuer that results in or would reasonably be expected to result in a significant change in the market price or value of any of the issuer’s listed securities.

http://www.tsx.com/en/pdf/TSXFilingGuide.pdf

I'm not sure that they are even required to issue a PR although it may be in their best interest to do so. The information in the PR would then be included in the next quarterly report.

Excellent presentaion! Too bad they could not release the 3D results that have been done. It'll be interesting to see how they compare someday.

Received mine for the Roth from USAA but haven't got anything from the TDA accounts. It was good to see the effort they put into the annual report. Nice pic of the infamous "Whiteboard" in it.

OT: I see that there have been some comments about the Fair Tax this week. Most of what I've read on this board has been inaccurate. I'd ugre anyone that is concerned to read the HR25 bill, review the website, and/or read the books.

MN: No, I haven't received mine yet either. I expect the material is sent through Ameritrade which seems to take longer than most.

Herk

Who is the operator of Block 3? I thought it was Anadarko.

The Lemba Prospect, which the Joint Development Authority (JDA) has approved as the first drilling location in JDZ Block 3

Looks like they have taken the site down and replaced it (?) with this: http://www.thechromegroup.net/index.php?meat=1

And let's not forget

There's another Chevron alumni at Addax, someone with some solid experience, the COO Jim Pearce.

http://www.addaxpetroleum.com/company_profile/senior_management/biographies#pearce

Doug - 35K long here

They just said in the briefing that they can't name the companies involved, although IGate was mentioned in the same briefing.

Also on CSPAN

Just mentioned oil rights in STP.

Justice Dept briefing coming up shortly on ....CNN. eom

I'm just a novice at this dot connecting thing, but I'll give it try ...

Tasty little fish= eel

Godfather (as Art2004 and others pointed out) = Offor

and how about - Knook = elf


"They are among the immortals who raise the young Neclaus and help him to make the toys"

= Total

BB- you're the Master