LPTN .18 $5 soon. Why ??

You are wrong!!! Not halted. I just placed an order through ETrade and order was accepted. Shows as a open order. Try it yourself.

From what I have seen stocks are usually not halted due to reverse splits.

I think they are accused of not living up to the contract to begin drilling.

Use ETrade they have no restrictions. Ameritrade is terrible for trading penny stocks.

AFRICA OIL RECEIVES KENYAN GOVERNMENT APPROVAL OF MAERSK OIL FARM IN

January 11, 2016 in Top News
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Africa Oil Corp. has reported that the previously announced farm-out with Maersk Oli and Gas has received approval from the Government of Kenya.

This gives a green light for completion of the farm-out of Blocks 10BB, 13T and 10BA.At completion of the Maersk farmout, the new respective interests in each of Africa Oil’s blocks will be:

Kenya Block 10BB Africa Oil – 25% Maersk – 25% Tullow – 50%*
Kenya Block 13T Africa Oil – 25% Maersk – 25% Tullow – 50%*
Kenya Block 10BA Africa Oil – 25% Maersk – 25% Tullow – 50%*
Ethiopia Rift Basin Africa Oil – 25%* Maersk – 25% Marathon – 50%
Ethiopia South Omo Africa Oil – 15% Maersk – 15% Tullow – 50%* Marathon – 20%
Kenya Block 12A Africa Oil – 20% Tullow – 65%* Marathon – 15%
Kenya Block 9 Africa Oil – 50%* Marathon – 50%
*-denotes Operator
According to Africa Oil’s President and CEO Keith Hill this completion will put the company on a stable financial position to carry on through the year.

“We are very pleased to have received approval from the Government of Kenya. We feel Maersk will be an excellent partner in terms of technical and financial strength and experience critical to moving the development project forward. This transaction puts Africa Oil in the enviable position of not requiring any additional equity financing prior to first oil and will allow us to weather the current difficult oil price environment should it continue into 2016,” says Hill.

Going forward Maersk will pay Africa Oil US$350 million as reimbursement for approximately 50% of past costs incurred by Africa Oil prior to the agreed March 31, 2015 effective date as per the terms of the farm-out agreement.

In addition, upon Final Investment Decision (FID), Maersk will also carry up to US$405 million of Africa Oil’s working interest share of development expenditures for the Lokichar Development Project.

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TAGS: Africa Oil Block 10BA Block 10BB Block 12A Block 13T Block 9 Ethiopia Farm Out Kenya Maersk Oil And Gas Rift Basin South Omo Basin PREVIOUS POST ZARARA OIL AND GAS RECEIVES 18 MONTH EXTENSION IN KENYA’S BLOCKS L4 & L13
TOP NEWS
January 11, 2016
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If it was just a rumor that was acted upon and not information given by an actual insider that is not illegal.

Please tell us when you actually buy your 25k of CETC and at what price.

Q. When will the reverse stock split be completed?

Management for ERHC Energy can confirm that the relevant documentation to effect the 100-for-one reverse stock split announced December 16, 2015 has been completed and filed with the appropriate regulatory authorities. ERHC now awaits regulatory approval and will immediately relay to shareholders such approval upon regulatory acknowledgment.

Updated FAQ

Q. When will the reverse stock split be completed?

Management for ERHC Energy can confirm that the relevant documentation to effect the 100-for-one reverse stock split announced December 16, 2015 has been completed and filed with the appropriate regulatory authorities. ERHC now awaits regulatory approval and will immediately relay to shareholders such approval upon regulatory acknowledgment.

You could sell some for .0015 right now. Almost a 4 bagger. I am not sure why the buying today prior to rs. Any ideas?

I think they are still waiting for approval from FINRA for the RS. If you bought some at .0004 why don't you at least sell 1/2 for a 3 baggeer and assure a profit on that trade no matter what happens. I know I would.

No I didn't.

You might be correct with FINRA. I talked to secretary and she said waiting for approval. I said SEC and she agreed.

I called your ERHC. The reverse split will not be happening tomorrow. They are still waiting on SEC approval.

I called ERHC. The reverse split will not be happening tomorrow. They are still waiting on SEC approval.

I believe they said around Jan 5 but I am not sure that is the exact date. I have followed and played some RS stocks lately. The pattern on most seems to be a drop the first day or two and then a bounce.

I guess we will not know if anyone converts or if they issue any new convertibles until the next 10Q in March.

RS Monday??

KENYA COULD MONETIZE OIL RESERVES AS EARLY AS 2016

December 31, 2015 in Top News


Kenya could start pumping oil from the Lokichar basin in Northern Kenya in the months to come with reports that the leadership is pushing for road transport ahead of the commission of the crude oil pipeline.

This new development could be to ease pressure on the East African giant as its western neighbor Uganda to which President Uhuru Kenyatta and the latter’s Yoweri Museveni had agreed to build a pipeline connecting the Albertine basin with the Lokichar basin to the Kenyan coast remains non-committal on the route.

For the road transport to be used there however needs to be major upgrades on infrastructure between Kitale and the South Lokichar fields which is in a dire state after decades of neglect.

The news which emanate from Imara Africa Securities in an article posted on CNBC confirm that the idea is being pushed from State House Nairobi also suggest that rail will cover the bulk of the distance to the Kenyan coast with likely markets being to Asia namely China, Malasyia and India.

This reports correlate with an earlier article by OilNews Kenya in 2013 where we had suggested that the government might take the road option due to the complexities of building a crude oil pipeline as well as the government’s zeal for early evacuation even terming it an emergency project.

These reports also confirm prediction by pundits that Kenya could export its oil before Uganda which discovered its crude six years prior.

The evacuation however comes with complexities due to the waxy nature of the oil which has an API of around 36 degrees necessitating the need for heated wagons or the addition of a chemical to raise the pour point.

Other than logistics issues other challenges include the absence of legal framework to govern oil production as well as security instances in Northern Kenya which has led to the dispute on the proposed route especially by Total which favors a more southerly Tanzania route.

The latest development could also suggest behind curtains wrangles between the East African two states and the pressure by the French oil giant. In mid-December Total CEO Patrick Pouyanné met president Museveni to discuss developments especially an outlet for Uganda oil where the CEO said he favored the Tanzania route based on lowest cost, reliability and security.

To date Tullow Oil (operator) and its JV partner Africa Oil in Kenya’s Blocks 10BB and 13T have discovered an estimated 600 million barrels.

KENYA COULD MONETIZE OIL RESERVES AS EARLY AS 2016

December 31, 2015 in Top News


Kenya could start pumping oil from the Lokichar basin in Northern Kenya in the months to come with reports that the leadership is pushing for road transport ahead of the commission of the crude oil pipeline.

This new development could be to ease pressure on the East African giant as its western neighbor Uganda to which President Uhuru Kenyatta and the latter’s Yoweri Museveni had agreed to build a pipeline connecting the Albertine basin with the Lokichar basin to the Kenyan coast remains non-committal on the route.

For the road transport to be used there however needs to be major upgrades on infrastructure between Kitale and the South Lokichar fields which is in a dire state after decades of neglect.

The news which emanate from Imara Africa Securities in an article posted on CNBC confirm that the idea is being pushed from State House Nairobi also suggest that rail will cover the bulk of the distance to the Kenyan coast with likely markets being to Asia namely China, Malasyia and India.

This reports correlate with an earlier article by OilNews Kenya in 2013 where we had suggested that the government might take the road option due to the complexities of building a crude oil pipeline as well as the government’s zeal for early evacuation even terming it an emergency project.

These reports also confirm prediction by pundits that Kenya could export its oil before Uganda which discovered its crude six years prior.

The evacuation however comes with complexities due to the waxy nature of the oil which has an API of around 36 degrees necessitating the need for heated wagons or the addition of a chemical to raise the pour point.

Other than logistics issues other challenges include the absence of legal framework to govern oil production as well as security instances in Northern Kenya which has led to the dispute on the proposed route especially by Total which favors a more southerly Tanzania route.

The latest development could also suggest behind curtains wrangles between the East African two states and the pressure by the French oil giant. In mid-December Total CEO Patrick Pouyanné met president Museveni to discuss developments especially an outlet for Uganda oil where the CEO said he favored the Tanzania route based on lowest cost, reliability and security.

To date Tullow Oil (operator) and its JV partner Africa Oil in Kenya’s Blocks 10BB and 13T have discovered an estimated 600 million barrels.

Not sure why he is not posting here but he and I are Facebook friends and he has been posting there.

Merry Christmas everyone.

Hopefully your call on WOLV will be as good as your call on L*NC

now .0011 -.0012


cpw13154 Sunday, 11/15/15 09:44:05 PM

0.000001 ? -0.000099 (-99.00%)
Now that's something you don't see everyday LOL

Great call LOL now .0011 -.0012


cpw13154 Sunday, 11/15/15 09:44:05 PM

0.000001 ? -0.000099 (-99.00%)
Now that's something you don't see everyday LOL

I agree they should disclose everything but I think your beating a dead horse unless you are willing to register a complaint with the SEC.

Do we know what ERHC will receive in addition to the 4M if drilling is successful?

Great call now .0008 -.0009


cpw13154 Sunday, 11/15/15 09:44:05 PM

0.000001 ? -0.000099 (-99.00%)
Now that's something you don't see everyday LOL

Is jack squat a jack up rig that squats over a prospective a well prior to drilling?

I assume everyone knows the RS is on or about Jan 5

ITEM 8.01. OTHER EVENTS.

One hundred-for-one Reverse Stock Split

The Reverse Stock Split is scheduled to take effect on or about January 5, 2016 (the “Effective Date”). At the Effective Date, every one hundred issued and outstanding shares of common stock of ERHC will be converted into one share of common stock of ERHC, and as a result, the number of outstanding shares of ERHC’s common stock will be reduced from approximately 2,979,683,870 shares of common stock as of to approximately 29,796,839 shares. ERHC’s common stock will continue trading on the OTC Pink under the symbol “ERHE” but will be assigned a new CUSIP number.

The question is then why did PN and SO buy over $70K of stock each?

It could be worse. You could have bought KBIO. CEO arrested and stock halted. Could go to zero.

Why 2 months. The last 10Q was Aug 14. Last year 10K came out on Dec 29, 2014. IMO next 10Q/10K should be very soon.

Great job middy. Glad you went. Thanks for the report.

Someone posted about an unsuccessful well the other day so to be balanced here is a successful well.

Tullow Oil plc and its partner Africa Oil have announced a new round of successful results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya.

Amosing-2 appraisal well

The Amosing-2 well in Block 10BB is the first appraisal well on the Amosing field discovered in January 2014, and was drilled from the Amosing-1 well pad. The well was deviated 1,350 metres towards the northeast and downdip from the discovery well to calibrate the oil-water contacts of the several oil pools identified in Amosing-1. The Amosing-2 well encountered up to 30 metres net oil pay. As planned, the well was then sidetracked back to some 400 metres from the discovery well to provide additional insight into reservoir distribution in the area and for use in interference testing, planned to start later in 2014. The Amosing-2A sidetrack encountered up to 90 metres net oil pay in several oil pools.

The Sakson PR5 rig drilled Amosing-2 to a final depth of 2,878 metres and the Amosing-2A sidetrack to a final depth of 2,165 metres. The rig will now be moved to explore the southern extent of the South Lokichar basin to drill the Ekosowan-1 well in September 2014, 11.9 km south east of the Amosing-1 well.

Ngamia-3 appraisal well

The Ngamia-3 well in Block 10BB continued the appraisal of the Ngamia field. The well was successfully drilled 1.6 km north of the Ngamia-1 discovery well and encountered 150 metres of net oil pay in both Auwerwer and Lokone reservoirs. The well has been suspended for likely use in future interference testing, appraisal and development activities.

The Marriott PR46 rig drilled Ngamia-3 to a final depth of 2,700 metres. The rig will now be moved to continue the appraisal of the Ngamia field, drilling the Ngamia-4 and Ngamia-5 wells which are planned to be used in an interference testing programme in the Ngamia field.

Etom-1 exploration well

The Etom-1 well in Block 13T is the most northerly well drilled to date in the South Lokichar basin, 6.5 km north of the previous Agete-1 discovery. The well encountered approximately 10 metres of net oil pay, extending the proven oil basin significantly northwards. Based on this result the ongoing 550 sq km 3D seismic survey in the South Lokichar basin has been extended to cover a further 247sq km in this northern area, including several similar prospects which are scheduled to be drilled in 2015.

The Weatherford 804 rig drilled the Etom-1 well to a final depth of 2,000 metres. The well will be suspended for use in future appraisal and development operations, following which the rig will move to drill the Kodos-1 well in September 2014 to test the first of several prospects identified in the neighbouring Kerio Basin.

“We are quite pleased with the Etom discovery which extends the proven petroleum system to the northern portion of the Lokichar basin and derisks several large prospects in that area. We are also encouraged that the Ngamia and Amosing appraisal wells have found thick reservoir and pay intervals that will give us further confidence that these two fields to anchor our development project and look forward to the results of the extended wells tests to confirm the reservoir performance,” says Africa Oil CEO Keith Hill.

Ewoi-1 flow test

The SMP-105 testing/workover rig recently completed testing activities at the Ewoi-1 well. The well demonstrated good permeability in the water-bearing Lokone reservoirs and a programme to target these updip is under consideration. Flow rates from the Auwerwer reservoir DST were limited to around 50 bopd, potentially due to the high wax content and shallow depth of this DST.

The lightweight rig is currently testing the Twiga South-2A appraisal well where two to three tests are planned.

“Etom-1 has successfully extended the South Lokichar rift bounding fault play northwards and we look forward to testing the southern area of the basin with Ekosowan-1. Continued success in appraisal of the Ngamia and Amosing fields reinforces our belief that the South Lokichar basin holds very considerable potential which we hope to replicate in additional basins. The next basin-opening test will be in the neighbouring Kerio Basin, with the Kodos-1 well expected to spud in early September,” he said.

According to exploration director at Tullow Oil Angus McCoss the company now looks to testing the neighbouring Kerio basin which it hopes will replicate the success seen in the South Lokichar basin.

The Kodos well is the first well to be drilled in the highly prospective Central Kerio basin in Kenya Block 10BB and will target a three way dip closed feature against the main basin bounding fault similar to the Ngamia/Amosing/Twiga trend in the Lokichar Basin.

The Ekosowan well is located on the western ‘string of pearl’ prospects in the Lokichar basin and is directly south of the Ngamia and Amosing fields which have demonstrated the thickest net pay and reservoir in the basin. Both wells are expected to be completed in the fourth quarter.

Two additional new basin opening wells are planned to spud before the end of the year in the North Kerio Basin (Epir-1) and the North Turkana Basin in Block 10 BA (Engomo-1).

Tullow Operates Blocks 10BB and 13T with 50% equity and is partnered by Africa Oil Corporation, also with 50%.

[twitter-follow screen_name=’oilnewskenya’]

I have followed and bought several RS stocks lately (AEZS NURO INVT). The pattern seems to be down the day the RS is effective (usually the best day to buy) and then a recovery shortly after. Watch GBSN Monday. A 1/60 RS. If you buy any RS don't buy all at once IMO. Average in.

I think BIO stocks are a lot like OIL stocks. Many have drugs in clinical trials that may turn out positive or not like exploration stocks that have wells to be drilled that may turn out positive or not. Most need cash and use convertible notes or issue additional stock to raise funds.

For a example of what could happen after the RS keep an eye on GBSN. They have a 1/60 RS effective Monday. GBSN closed at .09 on Friday so it should be priced at about 5.40 at the open Monday. See how it reacts when it opens. If it follows the pattern of other stocks that have had a RS lately the price will drop for a day or two and then recover.

I still believe based on the previous convertible notes with the exception of the Chrome note that if they issue additional notes the notes won't be convertible into stock for about 180 days. If that turns out to be true any dilution won't occur until after drilling of the first well so there may not be pressure on the stock price until after drilling

If the first well is successful then it should be easier to raise capital necessary for additional wells. If the first well is not successful then we all know what will happen unless there is a positive development in the JDZ, EEZ, or Chad.

This is all IMO.

Another opinion I have is that you won't agree with anything I post and you will never make a positive post about ERHC no matter what happens.

You tweeted that you were buying LPTN and ROKA a few days ago. Did you actually buy them?

Use ETrade

Strategyone is correct. To be balanced, along with the negative news you should also post positive news when it happens. Example the article below.

Kenya Block 11A

South Sudan
Block 11A is operated by Cepsa (55% interest), other interest owners are ERHC Energy (35%) and The Government of Kenya (10%). Circle is entitled to 4.5% interest in the block which is currently held as part of ERHC’s retained 35% interest.

Block 11A encompasses 11,950.06 square kilometers or 2.95 million acres (click on map to enlarge). The Block is situated on Kenya’s border with South Sudan to the north, Block 11B and Lake Turkana to the east and near Kenya’s border with Uganda to the west.

Block 11A is in the vicinity of Blocks operated by one of the most prolific oil and gas explorers in Africa. Drilling activity in the area has made international headlines recently. The Eliye Springs well is in the adjacent Block 10BA while the Loperot and Ngamia-1 wells in Block 10BB are also nearby.

The regional geology and structural evolution of Block 11A is dominated by the Cretaceous Central Africa Rift System (CARS) and the Tertiary East Africa Rift System (EARS) with the associated basin depositional trends. The main surface feature of Block 11A is the Lotikipi plain. This broad depression measures approximately 110 km from east to west.
The proximity and in-trend relationship between the Lotikipi plain and the Abu Gabra Rift basins of southern Sudan suggest high oil and gas prospectivity. The southern Sudan basins are established petroleum provinces. Surface exposures of the sedimentary units with potential source and reservoir value, represented by the Cretaceous/Paleogene Lapur Formation of the Turkana Grits, give an indication of the sediments that might be encountered beneath the Lotikipi plain.
Gravity data, acquired earlier in the area, enabled the delineation of a sedimentary basin within the Block 11A area below the Lotikipi plain. The basin-fill is believed to be in excess of 5,000 meters, well above the threshold for sufficiently buried and mature organic matter for oil generation.

East Africa has emerged in recent years as an exciting, new oil province with the discovery of over 1 billion barrels of recoverable oil in Uganda’s Block 1 (EA1), the Ngamia-1 oil discovery in Kenya, which is estimated to be bigger than the Ugandan discovery, and large gas discoveries, including the recent Zafarani find, offshore Tanzania.
Of major implication to the petroleum system in the Block 11A area, the Loperot well recovered light paraffinic oil sourced from an excellent type 1 oil-prone lacustrine shale. Even more important have been the significant oil columns encountered by the Ngamia-1 well.

Why would anyone have an account with TDA with these restrictions. For trading penny stocks ETrade is the best. Lower commissions and no restrictions.