I contacted Barry Morgan. Barry is out of country today. Back tomorrow. He said he would try to contact Cespa or the Ministry. I will let everyone know if I hear back from Barry/

True. No one should put all their eggs in one basket (stock).

VFIN gone from ask for now

If Tarach isn't worth anything no matter how much the discovery why are you still holding. Are you willing to wait the years and suffer the dilution you say are required?

Anyone who bought dilution insurance will probably be very happy with your $.50 - $1 estimate.

I asked Dan Keeney about the rig and the drilling; His response below:

What I've been told is that just because it shows "available" doesn't mean it is not in service currently. Rig operators show it as available so they can get it reserved with as little downtime as possible. As has always been the case, when drilling is complete, ERHC will disclose it.

Sincerely,

Daniel Keeney, APR
DPK Public Relations

Toll Free: 800.596.8708
Portland: 503.922.0023
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com

I think it's possible we get a shareholder update soon with some drilling results. What kind of drilling results would you consider good enough to make you more positive

I think it's possible we get a shareholder update soon with some drilling results. What kind of drilling results would you consider good enough to make you more positive

If ERHC had money of a partner maybe they could pick up block 11B

ADAMANTINE ENERGY KENYA’S BLOCK 11B LICENSE EXPIRES
June 2, 2016

A PSC between Block 11B operator Adamantine Energy and the Republic of Kenya signed in June 2012 has expired with no word of any license extensions or renewal although a JV partnership also involving Bowleven and first oil was unable to complete the initial minimum work programme.

The JV partnership had earlier been awarded a one year license extension to enable evaluation ahead of second phase decision with completion of acquisition processing and interpretation of 2D seismic on block 11B remaining among the key objectives.

Adamantine had earlier applied to the Kenyan authorities for a 15 month extension to allow for the acquisition, processing and evaluation of 2D seismic arguing that commencement of seismic operations had delayed due to logistical issues as well as security concerns.

Under the PSC, the Company was to undertake a 3-phased work programme starting in 2012 including a 14,500 line km airborne full tensor gradiometry survey carried out in June 2013 by BellGeospace and which confirmed five basins on Block 11B.

2D seismic expected to commence in Q2014 is yet to begin despite the operator having reported that the tender process for the seismic programme was at an advanced stage with contract awarding. Funding from First Oil was to cover a significant proportion of the initial minimum work programme (FTG and 2D seismic).

Legal battles between Adamantine and Bowleven might have been the reason behind the slowdown in progress. The English High Court in the case of Adamantine Energy (Kenya) Limited v Bowleven (Kenya) Limited [2016] EWHC 130 (Comm) ruled that what happened on 25 February 2015 was not a valid ‘drill or drop’ vote under the SPA, and that Bowleven therefore did not have to transfer its interests under the PSC.

This is as both parties knew that there was no realistic prospect of completing the IEP seismic data acquisition required under the minimum work commitments of the PSC by 26 May 2015 and therefore there was no realistic possibility of invoking rights under Clause 2(3), unless the requested extension were to the IEP granted.

Under the farm-in agreement in September 2012 Bowleven was to fund the work programme for the initial two year exploration period at an estimated cost of $10 million including an airborne geophysical survey and the acquisition of 2D seismic. Bowleven would also provide technical support to Adamantine, as operator, under a TSA during the initial exploration period.

An Environmental Impact Assessment (EIA) in block 11B by Earthview Geoconsultants was completed in April 2013 while a certification by the National Environmental Management Authority (NEMA) was awarded thereafter.

Block 11B covers an area of approximately 14,200 square kilometres covering the Loeli, Lotikipi, Gatome and South Gatome basins. The basins are to the north of the Lokichar Basin where a significant oil discovery has been made in recent months with the Ngamia-1 well.

Analysis of the existing gravity and magnetics and seismic datasets suggest the basins in block 11B are of similar form to Lokichar and analogous geological

ADAMANTINE ENERGY KENYA’S BLOCK 11B LICENSE EXPIRES
June 2, 2016 in

A PSC between Block 11B operator Adamantine Energy and the Republic of Kenya signed in June 2012 has expired with no word of any license extensions or renewal although a JV partnership also involving Bowleven and first oil was unable to complete the initial minimum work programme.

The JV partnership had earlier been awarded a one year license extension to enable evaluation ahead of second phase decision with completion of acquisition processing and interpretation of 2D seismic on block 11B remaining among the key objectives.

Adamantine had earlier applied to the Kenyan authorities for a 15 month extension to allow for the acquisition, processing and evaluation of 2D seismic arguing that commencement of seismic operations had delayed due to logistical issues as well as security concerns.

Under the PSC, the Company was to undertake a 3-phased work programme starting in 2012 including a 14,500 line km airborne full tensor gradiometry survey carried out in June 2013 by BellGeospace and which confirmed five basins on Block 11B.

2D seismic expected to commence in Q2014 is yet to begin despite the operator having reported that the tender process for the seismic programme was at an advanced stage with contract awarding. Funding from First Oil was to cover a significant proportion of the initial minimum work programme (FTG and 2D seismic).

Legal battles between Adamantine and Bowleven might have been the reason behind the slowdown in progress. The English High Court in the case of Adamantine Energy (Kenya) Limited v Bowleven (Kenya) Limited [2016] EWHC 130 (Comm) ruled that what happened on 25 February 2015 was not a valid ‘drill or drop’ vote under the SPA, and that Bowleven therefore did not have to transfer its interests under the PSC.

This is as both parties knew that there was no realistic prospect of completing the IEP seismic data acquisition required under the minimum work commitments of the PSC by 26 May 2015 and therefore there was no realistic possibility of invoking rights under Clause 2(3), unless the requested extension were to the IEP granted.

Under the farm-in agreement in September 2012 Bowleven was to fund the work programme for the initial two year exploration period at an estimated cost of $10 million including an airborne geophysical survey and the acquisition of 2D seismic. Bowleven would also provide technical support to Adamantine, as operator, under a TSA during the initial exploration period.

An Environmental Impact Assessment (EIA) in block 11B by Earthview Geoconsultants was completed in April 2013 while a certification by the National Environmental Management Authority (NEMA) was awarded thereafter.

Block 11B covers an area of approximately 14,200 square kilometres covering the Loeli, Lotikipi, Gatome and South Gatome basins. The basins are to the north of the Lokichar Basin where a significant oil discovery has been made in recent months with the Ngamia-1 well.

Analysis of the existing gravity and magnetics and seismic datasets suggest the basins in block 11B are of similar form to Lokichar and analogous geological plays and petroleum system elements are expected.

Anyone making any money here?

Yes

Would you tell us if you bought?

Yes. Thanks

Seek was one of the first to comment on the convertible notes:

seek the light Thursday, 08/14/14 03:00:18 PM
Re: None
Post #
3203

Only one word to explain the convertible notes Sale. PATHETIC!

Amounts of each sale. PATHETIC
Cost of each Sale. PATHETIC
Stock Conversion Discounts. PATHETIC
Backend Load. PATHETIC



All in all, solid proof that our major shareholder is financially strapped, imo.

I saw on Twitter you sold DAKP for a loss. What made you change your mind on this stock or did it just hit your stop?

MAJORITY OF PETROLEUM RIGHTS HOLDING COMPANIES IN KENYA INCORPORATED IN TAX HAVENS

http://www.oilnewskenya.com/majority-of-petroleum-rights-holding-companies-in-kenya-incorporated-in-tax-havens/

MAJORITY OF PETROLEUM RIGHTS HOLDING COMPANIES IN KENYA INCORPORATED IN TAX HAVENS

http://www.oilnewskenya.com/majority-of-petroleum-rights-holding-companies-in-kenya-incorporated-in-tax-havens/

Thanks CJ. If I could ask about 1 more I am in AMCO I would appreciate it.

What do you see on MOKO that I am not seeing on Yahoo Finance? It looks like they have declining revenue and earnings. Is there a catalist that I am not seeing?

The key to me is only buy what you can afford to lose. If your investment portfolio is $2M maybe you can afford to invest $105K (5% of your portfolio) to buy 1.5 M shares.

Agree

Can you please give me your latest take on RCPI. Are you still invested in this?

I guess I missed something. What was today's event that will be important to the company's future?

If you are an investor probably not good odds. If you are a speculator/gambler great odds. Think of this a a lottery ticket. Don't invest more than you can afford to lose.

A trader or an investor are not the only choices. You can be both. Hold a core position for the prospect of striking oil. Trade around that core position for profits or to increase the number of shares you hold.

From Africa Intelligence - Have to pay to read full article:


KENYA - 19/04/2016
ERHC voices confidence in quest for partner
Although it hasn’t yet found partners to buy into its block (...)

TD Ameritrade is very restrictive on many penny stocks not just ERHE. That's why most penny stock traders don't use them for trading penny stocks.

Iv'e said this before and I'll say it again. Open a ETrade account and you won't have a problem buying or selling.

WHY ALL EYES ARE ON CEPSA’S TARACH-1 WELL IN KENYA
April 26, 2016 in Top News

2016 has been a rather hard year for the upstream sector globally which has led to job cuts, trimming of operations, lack of ready finance as investors seek faster returns among other unfavorable outcomes.In Kenya particularly the rig count is down to just one at any one time with the current SMP-1 rig drilling the wildcat Tarach-1 well in Block 11A and which is expected to take 60 days to complete.

Although this is the first well in the block many players in the sector in Kenya are watching the outcome with a more positive expectation more than any other such well in recent history.

This is as the Tarach-1 well might be the only well in the works this years and a discovery is expected to lead to a second well.

The Tarach-1 prospect whose mean estimate of oil prospective unrisked resources is 66 million barrels is located in the Tarach basin on the Eastern part of the block and has in trend relationship with the Abu Gabra rift basins of Southern Sudan suggesting high oil an gas prospectivity.

The block is also in close proximity to discoveries by Tullow Oil to the south with an estimated 600 million barrels estimated to be in place.

A discovery could then reawaken hopes for a second well in the Block whose drilling is believed to have been shelved for the meantime.

Other than Tarach-1 a number of other were expected in 2016 including one in Block L19 operated by Rift Energy which was scheduled to commence by the end of Q1 with a source claiming it is unlikely that the well will be drilled this year.

According to Vice President of Operations at Rift Energy Tom Guidish the company is committed to drill a well in the block within the said timelines.

“I wish to clarify our position that yes we are still planning to start drilling a well on Block L-19 this year, and neither timing nor location has changed,” Tom Guidish told OilNews.

Another well that was planned to be drilled by Zarara Oil and Gas in Block L4 is also said to be in doubt with the company yet to receive the needed finances. Already the operator has been granted an 18 month licence extension through to June 2017, to the First Additional Exploration Period on Block L4 and L13 production sharing contracts.

Other wells that have been shelved include the planned Mlima well by Anadarko in the offshore Block L11A. The play-opening exploration deep water well in Kenya by Anadarko was part of nine to 12 deepwater exploration/appraisal wells planned for 2015/16 in various licenses including Colombia and Gulf of Mexico.

This said it is clear Tarach-1 well is the only well likely in Kenya in 2016.

WHY ALL EYES ARE ON CEPSA’S TARACH-1 WELL IN KENYA
April 26, 2016 in Top News

2016 has been a rather hard year for the upstream sector globally which has led to job cuts, trimming of operations, lack of ready finance as investors seek faster returns among other unfavorable outcomes.In Kenya particularly the rig count is down to just one at any one time with the current SMP-1 rig drilling the wildcat Tarach-1 well in Block 11A and which is expected to take 60 days to complete.

Although this is the first well in the block many players in the sector in Kenya are watching the outcome with a more positive expectation more than any other such well in recent history.

This is as the Tarach-1 well might be the only well in the works this years and a discovery is expected to lead to a second well.

The Tarach-1 prospect whose mean estimate of oil prospective unrisked resources is 66 million barrels is located in the Tarach basin on the Eastern part of the block and has in trend relationship with the Abu Gabra rift basins of Southern Sudan suggesting high oil an gas prospectivity.

The block is also in close proximity to discoveries by Tullow Oil to the south with an estimated 600 million barrels estimated to be in place.

A discovery could then reawaken hopes for a second well in the Block whose drilling is believed to have been shelved for the meantime.

Other than Tarach-1 a number of other were expected in 2016 including one in Block L19 operated by Rift Energy which was scheduled to commence by the end of Q1 with a source claiming it is unlikely that the well will be drilled this year.

According to Vice President of Operations at Rift Energy Tom Guidish the company is committed to drill a well in the block within the said timelines.

“I wish to clarify our position that yes we are still planning to start drilling a well on Block L-19 this year, and neither timing nor location has changed,” Tom Guidish told OilNews.

Another well that was planned to be drilled by Zarara Oil and Gas in Block L4 is also said to be in doubt with the company yet to receive the needed finances. Already the operator has been granted an 18 month licence extension through to June 2017, to the First Additional Exploration Period on Block L4 and L13 production sharing contracts.

Other wells that have been shelved include the planned Mlima well by Anadarko in the offshore Block L11A. The play-opening exploration deep water well in Kenya by Anadarko was part of nine to 12 deepwater exploration/appraisal wells planned for 2015/16 in various licenses including Colombia and Gulf of Mexico.

This said it is clear Tarach-1 well is the only well likely in Kenya in 2016.

So you can't present any proof of your claims. That's what I figured. Maybe if they strike oil we will meet in Vegas and have a turkey for thanksgiving.

I have not lost a dime on ERHC. In fact I have made a profit. Bought at .03 in 2001 - 2003 and sold most at higher prices. Of course I wish I had sold all at the top. Have been in and out of the stock in the last 5 years. Recently bought back in at a avg of .054.

You make these unsubstantiated claims. Show us how he took his money out a long time ago. He still owns all the shares he originally had plus more from the convertible note. You need some proof to back up your statements

How is Offer filling his own pockets. It seems like he has lost huge in share value by dilution.

Please tell us what he is being paid to do. I have a hard time understanding why Offer would want his Holdings diluted from 300 million to less than a million.

Your own words tell us what you are:

TRAPPER JIM Member Level Wednesday, 04/20/16 09:52:56 AM
Re: Trader Link post# 13485
To me trash talking to scare folks and buy cheaper shares at someone else's expense is the lowest form of life in ihub

I am happy so far with my 50% gain so far from purchase last week @ .0546

Did we really land on the moon or was that a hoax?

Did we really land on the moon or was that a hoax?