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Do you know if this is still trading? I did not see anything saying different but it does not appear to be, I do notice TPN is still trading.
I hope I am wrong just not much out there to make me believe so.
In my opinion we are waiting because management is trying to squeeze as many paychecks as they can until they are forced to go bankrupt.
Sounds like that is a quote can you say whether it came from one of the companies or from one of the workers on the rig? No way this company can last another 3 years.. Hope they sell out if that is the case but I am not sure who would buy at this point
From the person who posted the pictures they were taken over a month ago so it appears that they were still rigging down. I am sure if a picture was taken today none of that equipment would be there.
I agree with you on that. Most of my experience is in wireline but for the last three years have been involved in all the completion operations on US Land. I do not know how/when they test over there but we do all of that after the rig is off location.
Do you or anyone else know when/how/or if Tullow or anyone else over there flow tested their wells?
Not a problem, I don't mind
It is the rig's blow out preventor that is used in all drilling operations to handle any well control issue's. Once the rig is moved out of the way this would be the last thing to rig down and it would be rigged down whether the well was a dry hole or if it was to be produced.
If it is a dry hole they will cap the well if they were going to produce they would rig up a production tree. However, even if it was a good well I am sure they would not rig up a production tree yet as there is not anyway to get to market yet.
Long story short there is nothing to read into the BOP in the picture.
No that would be geologists and petrophysicists. Drilling guys do not get involved in that.
I am sure he was scheduled to speak well before they knew anything about this well anyways.
I would like to be hopeful but I did read his linkedin and it pretty much confirms that everything has been finished and we are still in the dark except for a leaked news report. I think if there was a discovery we would know about it. When he says he met all of his objectives he is just stating that the well was drilled without any drilling problems. Believe me drillers are some of the most short sighted people around all they care about is making hole, whether or not there is any oil or not does not really matter to them. The fact that he has updated it on Linkedin kinda shows he is off to his next venture.
I too e-mailed the investor relations guy and he said there was no news out. Hopefully it bounces quickly off of these prices and it was only one big seller that is gone already. The way it traded I thought I must have missed something pretty bad.
I see there is not much posting on this stock but does anyone have any idea why this is dropping so fast the last couple of days? thanks
If it was not true I think either company would have come out and shot down the story by now.
Do you know when the picture was taken?
That does not read like they are buying into the company, that just means they are going to take a larger percentage of the oil royalties. At least that is what I believe.
If they are starting their final hole section now with only 4500 feet to drill they should easily be at TD within 2 weeks.
Yeah, I would admit that. I was hoping for some kind of small pop to sell some shares but now I am wondering if this will go to zero even before we start to drill again. At these prices I am torn about throwing some more money at it and hoping for some catalyst or just waiting with what I have. I will be adding a bit to Taipan for sure but not sure even at these prices if this thing is a bargain. I am kicking myself for not selling something at that last pop to 12 cents.
Which one do you worry about the most? I wonder about ERHE, sometimes I think that could go to zero fairly easily. They are about the slowest moving company I have ever seen.
Yes, I am in both. I have owned ERHE much longer and have missed opportunities to sell which I regret. I think this one will have a sooner catalyst so I am putting my new money in here with the hope to sell half on a nice pop when drilling starts and then playing with the houses money. I would then look to increase my stake in ERHE and ONCS (those are my other penny stocks that I am in). The rest I stick with higher quality names.
Here is some positive exposure from Zacks:
http://seekingalpha.com/article/2496215-2-kenyan-oil-explorers-with-big-short-term-potential?ifp=0
I seen a couple of things lately where TAIPF got an upgrade to buy from Zacks and Africa Oil got an upgrade to hold from someone else. At least there should be more news around the corner about the area.
http://seekingalpha.com/article/2496215-2-kenyan-oil-explorers-with-big-short-term-potential?ifp=0
Here is an article in Rigzone about Africa Oil. Not sure if this has already been posted or how close of proximity these properties are to ERHE.
http://www.rigzone.com/news/oil_gas/a/134766/Africa_Oil_Corp_Updates_on_Drilling_at_its_Kenya_and_Ethiopia_Blocks/?pgNum=0
A couple of other movers on Monday from the ASCO could be PCYC (good news) and CLVS (bad news). I have watched both and fortunately only own PCYC. Apparently CLVS's drug causes diabetes, their best defense was that it was better than cancer which is true but... PCYC drug is apparently superior to GSK's.
I know this is not ONCS news but interesting nonetheless. I am an ONCS share owner also and have been trading around PCYC to generate money to buy more ONCS. I would love to see a pop out of that on Monday.
Now if ONCS goes up a lot I am not sure at what price I would want to take some profits to try get more later on a dip as I think eventually the sky is the limit on this one but also want to be playing with the houses money by that time.
Is this the presentation at the ASCO? What is on June 2?
thanks
Just curious as to what is the significance of the JDZ being removed from Addax's website. I haven't been following daily so I was just wondering how these things were connecting up and what conclusions are being drawn.
thanks
Not sure if this is new news or not but here is some Kenya news. The article is dated 3/27/14
http://www.bloomberg.com/news/2014-03-27/tullow-oil-falls-most-in-six-weeks-on-well-results-in-kenya.html
Great to get the news, we may have another lengthy wait on our hands before we get to cash in though as the drilling only has to occur before September 2016. I have been in this quite some time and drilling was the main driver of the share price so I would not expect any big pops. I thought we would get a bigger pop out of this news though. Fortunately I was able to double my position over the last two months. I was hoping to cash in a portion within about 6 months time but I think it will take longer now. The other possible catalysts before drilling would be news from one of the other areas. I have more hope for the EEZ than I do for Chad.
I have not followed the board for a few months. Just checked in now to read the most recent posts. Did they drill another well in block 1?
Is this finally some real news to move the stock or is this just the Sao Tome playing games? Any insight?
I kick myself for not selling at least half of my shares during the last drilling round so would love to be hopefull in the not so distant future.
I have to admit the tone of the article did catch my attention.
4th for me
Well said? You have got to be kidding me. I can't believe that people keep talking about the room size. Not important at all, why waste the time to keep up the comments. It maybe deserved one comment and then the response from Dan was good enough to stop any other babble about the subject.
Smaller room. Descent reason for it. Enough already.
6 or 7 years ago, what price did you buy into it for at that time?
I was expecting much more from this stock by now but in reality I have probably done better in this stock than in many high quality stocks over the past 6 or 7 years. I am not even sure if the DOW or S&P are up over that time frame.
Sounds like DNDN (Dendreon)
The good you can take out of that is that they talk about the drilling in 2003 and 2007 and said that they had hoped for production to start in 2011 (4 years from 2007). The drilling in our blocks was 2009-2010. They state that they now expect the first production in 2014, which if my math is correct is 4 years from our drilling campaign. I know I would like to hear something more concrete but if they are expecting production in 4 years then maybe they know something positive about the results of our current drilling program.
It may be a reach but it makes a little sense too.
Coyote,
I think they got a 3 month extension to make that decision. I believe it was posted a couple of weeks back.
Looks like it is going to be a higher than normal volume day. I have not sold, it was because I had faith in what they had but now I am holding on more with hope than faith. This is getting ridiculous for sure. This stock has had me by the balls, I have traded most others pretty well but this one I always felt was undervalued and did not take profit in fear of missing the big move but I do not like what I see now.
Nodak
Krom,
Do you have any idea what they mean by a duster or are you just trying to be difficult? I read your posts and wonder if you can actually be invested in an oil & gas company and be posting what you are posting. I am giving you the benefit of the doubt and believing that you are just messing around.
Nodak
Timmer,
That does not make sense. I don't think the SEC/government bases their cases on something like that. If they thought they could get them on something illegal they would have charged them whether they had oil or not. They still have 35 million in cash and I am sure that would be enough for them to proceed if they thought they had a case. Remember it is not the oil companies that raided the office so it was not contingent on whether or not they find oil as to whether they proceed.
And if they did have oil you think they would have charged them and then the little old SEC would have tried to take Sinopec's find away from them and give it to big oil?? Hell the US turns a blind eye at the Chinese for infringing on patents because they dont have the balls to stand up to them.
Nodak
Probably lost? Down to 55 cents already. I think the biggest problem is that people were expecting too much from this cc when logic would say different.
Nothing has changed just disappointment over the information. They would have been smarter not to have a cc.
Kownski,
I did not hear of Addax wanting more rigs for the area. Where did we hear that?
thanks,
Nodak