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oh come on! They paid $130 million dollars signature bonus, drilled one well "off structure" and then decided it was not worth it and bailed? Off one well they bailed? Come on. They bailed because they could not get all the property they want in order to develop the whole zone. Both companies have deep pockets. They could afford more exploratory wells. But it would have been too expensive to try to do a separate FPSO etc just for the one block. Total has the ability and infrastructure right next door. Sinopec and Total are partners next door. Connect the dots. And go away. We don't want you saving us from ourselves. At this price you can afford to pony up so scratch and jump all over this long term play. Why don't you?
Maybe our Biogenic Gas is just another word for methane hydrate and we will all be rich! LOL
caveat emptor "let the buyer beware"
caveat lector "let the reader beware"
both work on this stock and board! LOL
There must be something there to analyse. Maybe my grandkids will have better luck with this stock and I don't even have any yet!
prayers got out to BB for a swift and complete recovery. Thanks Dig.
Comfort is not usually a word associated with this stock! Queasy, along with sever nausea, would better describe my feeling about this stock!
How about "As time goes By" or "Down that long lonesome highway"
I hope you are right. I will take ANY good news on this stock. This stock is like trying to shave a sunburned face with a dull razor and no soap!
what make you think we will get much money from farmin's on the EEZ? STP can barely get $2 mil. in signature bonus on a block. We will not get the sweet deal we got on the JDZ. Especially with the non-information vacuum on the drilling in the JDZ. My guess is they will partner with Sinopec only because nobody else will touch the zone until better seismics done etc. Sinopec will rape us again because they are the only game in town besides Total. I think Total has their plate full trying to build up Akpo and get JDZ block 1 integrated with it. All the majors have backed off due to the crazy royalties, taxes etc. I hope I am wrong.
You are absolutely correct. They must view it as an investment and not a buyin. We don't have the money for a buyout. At least the $600,000 spent can be accounted for as an investment. Now where is the rest of the $4.5 mil a year that they spend going to? Instead of globe trotting in first class maybe they should find some other companies that have producing properties and buy some of their stocks. Better yet why not buy back some of their own stock to help the sp go up?
Now the company knows how we feel when we bought into this company and the stock started dropping right after we bought it. Maybe they will learn from this. I doubt it though.
Is Eland or Starcrest public? Then we could at least have some of OPL40 if that is the stock we bought.
maybe they don't want the sp to tank on that stock as well when we find out about it. LOL You would think it would warrant some kind of K notification.
This stock? Conference call? or Both? LOL
same here
yep, look at line 145. If I remember right BB was stating a well was spudded on Bk1 well before OBO-1 was announced. Looks like he was right. Kudos to BB.
Mongo, the deal still went thru didn't it. Trying to play scare tactics again? An article from 5 years ago that is a fish wrap at best. Go away.
ROFLMAO
Fantastic! Good for the little guy. I hope he gets rich off those scumbags.
LOL. Words of advice or warning? By the way, did you get to go to the wedding?
I recommend pepto bismol or alka seltzer for that!
gm. What brings you to our neck of the woods? Do you own this stock?
Since you mod 10 boards how about bringing some of you other friends into this stock?
good morning. What's up?
good news if true. However, that would be a material event and would have to be disclosed. If they do drill then it would satisfy the requirement for Phase II in whatever block it would be in. For all we know they may be drilling a double super secret well as we speak! LOL. Unlike oily to miss news like that. I will believe it when I see the official news. Thanks in advance for letting the cat out of the bag.
If we take history as a lesson then I would say down 1 cent because every time PN puts out a mystery PR then we go down. The only thing I see that is north of neutral is the conference call. But, as you mentioned it did not say anything about q&a aferward which is a real shame if they do that. It would also be very, very, cowardly! IMHO of course.
Krom, why don't you just go get a nice steak at your favorite restaurant and a followup shot of Remy Martin and forget about this stock for a change. May do you some good.
Man these guys sure love their conferences! Look at how many PN and co have attended and we sit at .13. Time to stop the conferences and money spending until we get some notice of what we have.
Red, is that the Paltalk of old? I had real problems with virus's thru that site.
The group said the commission being advocated for, will make information about happenings in the jiont development zone available for Nigerians.
According to NDEBUMOG, the yardstick being used by the Joint Development Authority (JDA) at deciding the zone’s corporate social responsibility, especially as it affects scholarship to Nigerians ”is not measurable by the civil society”.
They argued that since information about oil blocks among other issues within the zone are not also available, ”it calls to question how ordinary Nigerians would be able to know what their stakes are, concerning the millions of US dollars, which have been committed by our government for prospecting within the zone”.
Now that is something to push for! About time someone started pushing for transparency in the JDZ!
OT:
way cool live upstream video of baby eagles in the nest
http://www.ustream.tv/decoraheagles
I know exactly what it means and it doesn't include any payments. The costs are extracted from our share of the oil until the operators costs are paid for. We retain a percentage of profit oil. No go away for I send for the dogcatcher! And by the way, why am I arguing with someone that doesn't even own this stock?
They are not non-commercial until they are declared as such. That has not happened yet. To the contrary Sinopec has stated on their own website block 2 is commercial. So go get a life and leave us shareholders alone.
ROFLMAO
did you get the post I sent to you a few days ago?
It never ceases to amaze me when the sp goes down the "save the investors" clan shows up to tell us to get out while we can even though they do not have any stock themselves. We all know who you are and want you to know we do not need saving. We are waiting for official results and not hearsay etc. I have waited for 7 years now and will continue to hold until SEO sells etc. Big risk big reward. Now go find some other boards to troll.
I don't remember seeing it but did EEL relinquish their rights in the JDZ? If not, why not? If block 2 is no good why are they still holding on to it? I think you hit the nail on the head. I think it is an offensive move on their part to denigrate Sinopec for some reason. Sure is suspicious that they are the only ones putting out info that is contrary to what is posted on the Sinopec website.
Baddog, you said "If this turned out to be the case ERHE would be paying costs...at a loss", what makes you think ERHe would be paying costs when we have a full carry? Go away. You are not wanted here.
I can't believe someone is bailing because of one of our 10 blocks has conflicting information! This stock is making me even more crazy.
AC, can you send a message to your buddy in STP to have him explain the difference between the Sinopec website declaring block 2 commercial and EEL Annual report stating it is a bust? Does he know if they will be getting that additional 1 year extension? I feel as if I have money put into the biggest chess game of the century and each side is given a Nigerian fortnight to make the next move!
The last I heard Baakan was an 8 billion barrel field and is covered in so many drilling restrictions by environmentalist etc that it will never be exploited. Also, to date no oil company that has drilled has hit a giant gusher and producing mega oil per day.