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What are the chances of presalt plays....
in EEZ Block 11 ?
http://www.erhc.com/EEZ-Blocks/
Drilling for oil in Chad shouldn't be....
all that complicated, imo! It will be nothing like the JDZ (deep water, Drill-ship, availability of equipment, etc)
Seems to me the cost and machinery requirements will be very simple and plentiful.
Can't be much more complicated than drilling in Texas....but what do I know.
jmhooc
This move has Sir Emeka Offor written all over it,
if he is active again, look for a strong move upward....jmhooc
stickin a toe in here.....
AKPO belongs to Nigeria, there was a small piece of...
of that Block (forget the number) that encroached into the JDZ,(block 1) but that matter seems to have been resolved....STP was supposed to receive an oil stipen each year, because of the encroachment, but I'm not sure it has been paid timely.
jmhooc
Condensate is also not restricted by OPEC quotas....
so the Nigerian side of the equation is not affected,...STP is of course not a member of OPEC!...It is one of the reasons AKPO is so highly prized.
jmhooc
I believe Hellinger did drill on the Island....
but the ground was too hard,....Volcanic rock if my memory serves me correct!
jmhooc
I could not fight the ERHE addiction and withdrawal symptoms....
any longer, and have established a decent size free shares position. I beat smoking, but could not fight off ERHE fever.
I'm ERHE buying free for 20 minutes now...
Mark, sorry to hear about your Dad's passing....
When you are sorrowful look again in your heart,
and you shall see that in truth
you are weeping for that which has been your delight.
-Kahlil Gibran
I'm sick and tired, of being sink and tired....
so I'm out!....I may return, really don't know! I have a decent profit, only because of shrud trading skills. I'm retired now in Florida, and this investment just depresses me at this point.
I will miss the people here, more than ERHE....I wish everyone the best of luck!...I just don't have 5-10 years to play this out!
Might crawl back to the Atomic Bob thread, if they will have me.
Suffering terribly from ERHE withdrawl, at this point...and feel lost and dazed and confused.
Nice post, thanks, my shares stay....
on the OTCBB's....I've been trading that market for years, and have grown to actually like it.
Was it all made in China?....em
Maybe a riot broke out, I can see middy taking...
a chair to PN now...as the podium, goes out the window!...lol,lol..hey at least it would be press coverage, any coverage is good coverage, they say!
......
You would think SEO would be tired of....
the stagnant share price, and have better places to utilize his money, by now. The kind of cash he could generate with selling ERHE, he could become a huge wheeler dealer in Africa, and else where.
Property is cheap, all over the World...especially the developed world....he could make a killing, buying stuff up.
Time to make a move Sir Emeka Offor,...this chance may never come again, in your lifetime.
Trades go off at the ask, and then they...
drop the ask???...been going on for weeks!
AGM will offer nothing new, which is neither good or bad, imo....but of course it will be preceived as bad....Why?
....because the MM's can steal shares, and create a brief run-up, and make money from nothing!
....I love this Country!
torches and pitchfork ready?.....em
puff, believe what you like....
it doesn't really matter...either we have Commercial oil, or we don't!...the rest is just noise. Why would anybody take unsubstainated information received from a message board, and place any real value in it anyway.
Looks like buying time is approaching!
marty, I agree, Mark relies on his sources....
sometimes they are better informed, than other times. Also if you study the history of his information, especially the JDA side of things...they are usually more optimistic than what the reality on the ground actually is.
Mark has sources, but you must glean what you can from them....and of course make no financial decisions based on them...
jmvhooc
By all past indicators, ERHE will jump higher...
after the AGM, this time....the usual pattern of climbing up into the AGM, and falling afterwards has been reversed.
jmvhooc
Looks like the flippers have decided to bail...
before the AGM, which appears to be the opposite tactic of the last AGM.....you can never really figure the pattern out, because there is no pattern.
AKPO has 42+ wells, I doubt the first well...
at AKPO was deemed stand alone commercial, either....yet AKPO is one of the largest W.African GoG discoveries to date.
AKPO is about 15 miles, north of Block 2
OT: Transocean Rig explodes in GOM....EM
Thanks, been out of the loop....
we need Scotty to whip this thing into Warp Drive, throw up our force fields, and beam us up to the mother ship....
Did that pesky gap at .505 ever fill?...em
Been on the road, anything new?....
found a wireless hub, and thought I'd see whats up.
Price is lower, but can't see why...thanks
Orangedad and Mark......
I hope Mike gets well quick. My prayer are with both of you. I'm traveling right now so its hard to keep up with the board.
walldog
SEO needs 3/5ths (60%) to take ERHE private...
and simple majority will not do the trick!...he doesn't have it!
Also if taking ERHE private is instigated by SEO,and to his advantage....He may not even be able to vote his shares, because of a conflict of interest.
Also all events of such nature must look out for the Shareholders, and abide by SEC Rules and Fiduciary Responsibility.
This is not the Wild West....there are rules!...and with Sarbanes/Oxley, I really doubt it can be done, without overwhelming shareholder approval.
MM's shakin the tree for days on end....em
Another water boarding day in ERHE prison...em
I must be clairvoyant.....
Nigeria: Acting President Swears in Cabinet
By THE ASSOCIATED PRESS
Published: April 6, 2010
. Filed at 1:42 p.m. ET
ABUJA, Nigeria (AP) -- Nigeria's acting president sacked the head of the nation's oil company Tuesday, the same day he swore in a Cabinet that put a former oil company employee in charge of the country's petroleum ministry and an investment banker at the helm of its finances.
The moves by Acting President Goodluck Jonathan seemed to cement his power in Africa's most populous nation, despite ill President Umaru Yar'Adua's recent return to the country. Jonathan also said he directly would manage the nation's failing power ministry, a move that could turn around years of struggles to produce power for Nigeria's 150 million people.
http://www.nytimes.com/aponline/2010/04/06/world/AP-AF-Nigeria-President.html?_r=1&ref=global-home
It's hard to believe Management will have the....
cajones to host an angry mob, at the AGM!....then again, they may not care! Makes me believe a small chunk of raw meat will be throw to the crowd to soothe the savage pitchfork wielding beasts, aka...the shareholders!
Krombacher.....
Now calm down, I'm actually analysing your previous post, and somewhat agreeing with it...its why I haven't responed to it yet.
Maybe its a tactic to force ERHE to contact SNP and Addax....maybe it should be brought up at the Shareholders meeting.
Afterall we are NOT SNP/Addax shareholders.
ERHE does not comment on timelines that it doesn't...
have any control over!....your inquiries should be directed to SNP,and Addax....they are the Operators of the Blocks.
Sneak...and it could just as easily be the....
exact opposite!...huge find, massive project, complicated AKPO type developement...buy off the weak players, time is not on their side.
If it was a total bust...then just say so...No!
It mostly points to an AKPO type field, imo.
emdyal....
http://www.nigeriasaotomejda.com/
click on "Petroleum Legislation"
then click on "Petroleum Regulations"
REGULATIONS 64 and 65 are relevant
The Treaty between STP and Nigeria is also there!
I think our best chance of information release is STP....
after all they own the Assets, and have the most to lose in the near term, by silence....mainly because they have other assets to auction off, nearby!
Why don't we pool our thinking, and petition the STP Government to release results...they know the results.
Maybe we can start an email barrage to awaken them???....anybody got some current STP email adresses....anyone??
Midtieroil....your good at this kind of thing, what do you think?
emdyal....
You want to tell us once again the "reasons for silence" ?
I will tell you the reason....it is because it violates our Agreements, with the owners of the Assets, that we are priveledged to participate in.
See my previous posts on the Petroleum Regulations!
Petroleum Regulations.....
Regulation 64 Confidentiality
http://www.nigeriasaotomejda.com/
Any information supplied by the Licensee, Lessee or Contractor shall (except as otherwise
provided by these Regulations) be treated by the Authority and its officers entitled to the
information as confidential PROVIDED that the Authority shall be entitled at any time to make
use of any such information for the purpose of preparing or causing to be prepared
aggregated returns and general reports on the extent of oil operations in the Zone and for the
purposes of any arbitration or litigation between the Authority and the Licensee, Lessee or
Contractor.
41
Regulation 65 Release of information and Data
65.1 The Authority may make such use as it wishes of information and data contained in a
report, return or other document furnished to the Authority, provided that information
and data is not made publicly known by the Authority before the periods of
confidentiality identified below have expired.
65.2 Basic information and data about petroleum operations in the area of a licence or
lease may be released by the Authority five (5) years after it was lodged with the
Authority or when the areas to which that information and data relates cease to be
part of the area of the licence or lease, if earlier. However, conclusions drawn or
opinions based in whole or in part on that information and data shall not be releaseduntil ten (10) years after that information and data was lodged with the Authority.65.3 Where information and data has been released by the Licensee, Lessee or Contractor
or some party acting on his behalf, the Authority shall not be obliged to maintain the
confidentiality of that information and data.
65.4 Information and data relating to a seismic or other geochemical or geophysical survey
shall be deemed to have been lodged no later than six (6) months after the survey
has been essentially completed. Information and data on wells shall be deemed to
have been lodged no later than three (3) months after the well has been essentially
completed.
65.5 Access to information that is not released that relates to or is adjacent to a particular
License, Lease or Contract Area shall be based on mutual agreements between the
Authority and the relevant contractors.
65.6 The Authority shall be free to use any information and data relating to relinquished
and surrendered blocks or relating to other blocks outside the area of the licence or
lease, including releasing it to any party.
65.7 Officials of the Governments of the States Parties may have access to information
and data provided to the Authority under these and other Regulations, provided such
officials comply with the provisions of this Regulation applicable to the Authority itself.
ERHE is abiding by the Agreements it signed....
http://www.nigeriasaotomejda.com/
to be a participant in the exploration of oil in the JDZ. The Petroleum Regulations they are following are from the entities that OWN the assets, namely STP and Nigeria....ERHE has agreed to abide by these Regulations.
Are people here suggesting that ERHE, break its contracts with the owners of the assets?...and breach its agreements
Are people here suggesting that ERHE, break its agreements with the Operator of the blocks that ERHE are being financially carried by, and is a participant in?