Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
JUST SOME FOOD FOR THOUGHT TODAY. Still Long and Strong
Reserves possibly stand at about half the 300 MMbo hoped for,
http://energy.ihs.com/News/WW-News/Addax-takes-ExxonMobil-stake-in-Block-1-Nigeria-SaoTome.htm
This well was abandoned as a hydrocarbon discovery in March 2006 having encountered a minimum cumulative 45m net hydrocarbon column in multiple reservoirs.
http://energy.ihs.com/News/WW-News/Addax-takes-ExxonMobil-stake-in-Block-1-Nigeria-SaoTome.htm
industry sources hint that a confirmation well is being planned for the end of the year. (Tuneman note: 2007)
http://www.allbusiness.com/technology/1193868-1.html
150 feet (45 meters) of net hydrocarbon pay in multiple reservoirs
http://investor.chevron.com/phoenix.zhtml?c=130102&p=irol-newsArticle&ID=861842&highligh...
Crude Oil Brent Crude $85.06 +1.37
...OBO-1 was so big..? I DONT BELIEVE IT WAS. A secret like that would have been leaked by now. jmo bwtfdik. But when we start poking holes in our blocks our partners are not going to pull the Helen Keller routine on us.
2008 is gonna be great!!!
J Long I've switched to poker (same results).
Jim Long "I know the odds are worse than craps " The game of CRAPS gives the bettor (investor) the best odd in the casino (market). I think you meant to say "The odds are worse than the SLOT MACHINES" Which I never play!,,,LOL
MY LAST POST see pages 5-6 on the link
I find this interesting they mention DRILLING!! And disturbing that the EEZ gets thumbs down!
"production prospects in the EEZ are so far less
promising, although preliminary seismic data and drilling indicate some chance for commercial production."
Extensive seismic data for the northern part of the JDZ suggests very promising prospects for
commercially viable oil discoveries
International Monetary Fund
IMF WORKING PAPER
http://www.imf.org/external/pubs/ft/wp/2006/wp06183.pdf
TRYOTY When did Jeff S. allude to this?? "there aren't any really huge pools of oil, rather many 400M-500M pools".
THX
TUNES
RUBY THX Maybe this will get the minnow noticed. I like the link to ERHE website!
Majic.......one billion and 1
OILPHANT
"One billion adults today are illiterate"
STRASS see post 106549
STRASS: R E L A X
ITS BEEN SENT RUBY
look for an email with an address ending in ".....1028@hotmail.com" Give me a couple of minutes
4th quarter 2008
YES
Ruby I'll email it to you. EMAIL address please and I'll send an explanation with it
BALANCE I NEED YOUR EMAIL!!!
"old"Equator Exploration Limited said that Sinopec, as operator on behalf of the participants in Block 2 of the Nigeria and Sao Tome and Principe Joint Development Zone (JDZ), has entered into an agreement with Aban Abraham Pte Ltd for the provision of the Aban Abraham deep water drillship to drill a well in the second half of 2008.
The agreement, which has been entered into jointly with Addax Petroleum, has secured the Aban Abraham to drill up to ten wells in total. These wells will be shared across those blocks in which Addax and Sinopec respectively operate. The agreement contemplates five firm well slots and five optional well slots. Under a separate rig sharing agreement, Sinopec will be allocated one of the firm well slots that will fulfill the commitment well as agreed under the Block 2 Production Sharing Contract. Additionally, and as required, a share of the optional slots may be available. The day-rate for the rig is a maximum of $410,000 per day.
The JDZ was created through an agreement between the governments of Nigeria and Sao Tome & Principe in 2001 whereby revenues derived from the JDZ will be shared 60:40 between these governments respectively. Block 2 was awarded to Equator and the other participants in March 2006. Subsequent to a farm-in to the interest of another participant, A & Hatman, Equator has a 9% interest, of which 0.25% is allocated to another partner. The other participants are Sinopec, ERHC Energy and Addax Petroleum, who together have 65%, ONGC (13.5%), A & Hatman (2.5%), Amber Petroleum (5%) and Foby Engineering (5%). In its News Release of 11 January 2007, the Company reported the Best Estimate Prospective Resources for its net interest as prepared by Netherland, Sewell & Associates Inc. On an un-risked basis net to Equator they are 121 million barrels of oil and 168 billion standard cubic feet of gas, while on a risked basis they are 32 million barrels of oil and 50 billion standard cubic feet of gas.
Aban Abraham Pte Ltd is a wholly owned subsidiary of Aban Offshore Limited, publicly quoted on Indian stock exchanges. The Aban Abraham is a deep water drill ship currently undergoing extensive refurbishment and modification at the Sembawang Shipyard in Singapore. When refurbishment is completed later in 2007 the drill ship will be capable of drilling in water depths of up to 2,100 meters (6,900 feet) having been upgraded from second generation to fourth generation capability. Once commissioned, the Aban Abraham will undertake drilling operations for a third party operator before starting drilling operations for Sinopec and Addax Petroleum.
Equator Exploration Limited engages in the exploration and development of oil and gas projects in highly prospective West Africa. Equator's objective is to build a diversified portfolio of exploration, appraisal and production assets in the region. The Company has exploration interests in the territorial waters of Nigeria and of Sao Tome & Principe as well as in the Joint Development Zone between the two countries.
The Balance..Still long here!em
Ruby ..Very interesting
If you think you may croak before we see big bucks here please warn your wife. I dont want the following to happen.
Someone will be knocking on my front door and telling my wife in a strong African accent " MEESES TUNEMON, You are a berry berry wealthy woman!!!. Your late HUSSband was an oil baron who made millions in Nigeria. Just sign here to cash in!!!She of course will throw him out thinking it is another Nigerian scam. Warn the wives ..it may be a while before we cash in!
C E O = C E O
H M F
I E F
E K O
F A R
Chief Emeka Offor, still runs the show... C.E.O. title or not!
upatnight. Maybe not the company directly but possibly they approached Offor?
Fish Dog ..and that problem is??? msg# 105337
Emeka has left the building.
The KING is Gone but not Forgotten!!
WHATS WITH THE LOW STOCK PRICE??? ITS ABOUT TIME THIS COMPANY TAKES ACTION!
PAPPIN I would have to say (given the tone of the info provided) that they are considering lowering that estimate.
BWTFDIK???
Mr. Goop Let me know when there really is an event. Thank you kind sir.
WE'RE DUE FOR OUR ANNUAL RUN UP TO ABOUT $1.00 LINK http://finance.yahoo.com/q/bc?s=ERHE.OB&t=5y
..back to the theory of "Throw Away Well"em
thanks KUX! em
kuXe0'S 100 MILLION BARRELL POST IN ITS ENTIRETY IN CASE YOU HAD PROBLEMS
Luanda, 05/15 - Angolan Oil minister, Desidério Costa, Monday in Luanda, received the Sao Tome minister of Natural Resources and Environment, Manuel de Deus Lima, with whom he discussed the exchange of experience in the field of hydrocarbons between the two countries.
After the audience, Manuel de Deus Lima expressed the interest of his country to make of Angola its strategic partners in the formulation of strategies and policies in the oil field whose exploration will start in the coming years.
To him, Angola`s experience is fundamental if the best benefits are to be obtained from accords to be singed in future with international investors, once his country is to start producing oil soon.
"Being Angola an oil producer for many years, it has a large experience and it is on it that we will count and work, in order for us to enter into this process with some know-how," he said.
The visiting minister added that Angola`s experience will enable Sao Tome to hold advantageous negotiations with international investors.
Manuel de Deus Lima stated as well that in addition to exchanging experience, youths of his country are being training in Angola in the domain of oil, so they can secure crude production in Sao Tome afterwards.
Besides meeting with his local counterpart, the Sao Tomese minister held contacts with the chairman of the Angolan Oil Company (Sonangol) managing board, Manuel Vicente, with whom he discussed the drafting of a new plan to relaunch existing cooperation between the Angolan company and Petrogás.
According to Manuel Vicente, Sonangol, as a more developed company, is ready to extend all possible support to Petrogás, enabling it to become as well a renowned firm in the oil industry.
Cooperation between Sonangol and its Sao Tomese counterpart backdates to the independence of both countries in 1975. Sonangol has investments in Sao Tome and Principe, mainly in the area of distribution of fuel.
Manuel Vicente stated that with this new perspective of oil production in the twin-island country, Sonangol intends to expand the cooperation to the areas of oil research, production, trade, refinery and transportation.
Sonangol holds 40 percent of the shares of São Tomé and Príncipe`s fuel distribution company.
São Tomé and Príncipe shares an exploration zone with Nigeria, where four blocks have already been awarded to international companies. Reserves of above 100 million barrels were discovered in Block I.
The Sao Tomese official is in Luanda since Friday last week to reinforce bilateral cooperation in the oil field.
On Tuesday, Manuel de Deus Lima will travel to the FPSO (Floating Production, Storage and Offloading), before meeting on Wednesday with Angolan minister of Energy and Waters, Botelho de Vasconcelos, to discuss hydric resources matters. In the afternoon he will visit the Oil Operations Support Basis (Sonils).
On Thursday, the Sao Tomese minister will visit the Luanda refinery and Essa training centre, in Cacuaco, before returning to his country on Friday, May 18.
wzebra33... The word is out in the oil industry as to what CVX found . Addax's "balls deep committment" is just another sign that there is BIG OIL in "DEM DHERE WATERS!!!" We are Golden,and the big boys are still drowning in their tears.
2008 is loking great!
The Tuneman!
Sorry Mr Goop I hadn't read the other posts. I saw yours first and knowing your vast knowledge of the JDZ I immeidatly read your post first to see what was up. That of course resulted in a major brain fart that caused me to wonder what the hell you were talking about when it was right there on the board. Sorry Goopster I promise never to commit that faux pas again.
Niko Heil...I see