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Has there been any indication when Shell will make its decisions?
Thanks
Thanks for re posting that Doc. Its good to see a post from the past from someone who obviously knows more about drilling than the rest of the posters here. Pay attention whiners, this is not going to be a get rich quickly scheme now that they have started drilling. (Of course, I hoped it would be also.)
Lets sit back and wait for phase II.
He made the comment at the London show, June 11, 2008. Peter Ntephe was to handle but didn't and Bovell did it. As I remember it was an embarrassing presentation. And, yes, he said north of $10.
ERHC Energy to Present at Growth Company Investor Show in London
HOUSTON, June 2, 2008 – ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with valuable oil and gas assets in the highly prospective Gulf of Guinea off the coast of central West Africa, has announced plans to present at the Growth Company Investor Show at Barbican Exhibition Centre in London. ERHC’s presentation is scheduled June 11, 2008.
ERHC Energy’s Chief Operating Officer and Acting President and Chief Executive Officer, Peter Ntephe, will describe the Company’s assets, its near-term opportunities and its growth strategy. ERHC Energy has announced its intention to list a subsidiary on the Alternative Investment Market of the London Stock Exchange.
“Our participation in the Growth Company Investor Show in London will help to build visibility and spread the word about ERHC Energy’s ‘deep opportunity,’as we push forward aggressively with an initiative to accelerate growth by duplicating what we have been able to accomplish in the Gulf of Guinea,” said Ntephe.
Additionally, ERHC’s presentation at the RedChip Small-Cap Investor Conference is scheduled for 1:20 p.m. Pacific Time (3:20 p.m. Central Time) on Thursday, June 5, 2008. The presentation will be available online at the following link: http://www.redchip.com/visibility/conferencePages/SanFran2008/conferenceMain.asp?page=webcast.
Oh, oh. We'll have to start calling you Oily2!!!LOL
I'll second that. At least HP provides info that has some bearing on the region if not the stock. Better than rehashing the same useless conjectures on what Offer will sell for, when we will receive news, how bad management is, etc... How many thousands of these type of posts have we had to endure?
And it should be pointed out that with ERHE saying they are interested in pursuing marginal fields in the Delta region that any news related to Nigeria's insurgency issue or government is pertinent to this stock.
If you aren't interested in actual news of the area we are investing in hit the next post button. You only wasted 5 seconds as opposed to the hundreds of hours wasted on all the conjuncture.
I stand perfected!
HP, my post was tongue-in-cheek I hope you realized. Should have added the LOL, but a few too many Irish beers in me at the time! Keep posting. Yours are a lot more interesting and informative than most of the dibble posted here.
Homeport, haven't you been reading? Don't clog the board with such unimportant info. We need the space for all the important info this week per BB and Dadd. Will you ever learn?
Just did the same thing yesterday so had to "rediscover" the location.
Go to "Settings" on the top right of your screen. You will be at your settings. There is a "My Ignores" tab. Unhide the old.
Very useful. Might have to get Premium so I can "Ignore" more than 5!!!
Thanks YankeMike. Did not see this before. Very good information on Obo.
The Obo-1 discovery well established the presence of oil in the SB 8.2 Lower and SB 13.8 Lower sandstone reservoirs and the presence of gas in the SB 8.2 Upper sandstone reservoir.
An OWC was observed in the SB 8.2 Lower interval (Figure 68). Development plans for the Obo Discovery are not currently budgeted or approved by joint venture partners and the government, and estimated recoverable oil volumes at Obo may not be economically viable for a stand-alone development; therefore, these volumes are considered contingent resources.
Oil in the SB 13.8 Lower Reservoir was 45° API gravity with a GOR of 2,073 SCF/STB. Oil in the SB 8.2 Lower Reservoir was dead oil with 30.5° API gravity.
Wow, doesn't look like a company that is expecting to be bought out soon. LOL. Quite a booth and luncheon.
Thanks, bsk.
You da man! Keep up the good work.
Thanks
Sinopec after more oil. Look at the price per proven reserve!!!
Cnooc, Sinopec Said to Mull Devon’s Caspian Oil Stake
Feb. 19 (Bloomberg) -- Cnooc Ltd. and China Petroleum & Chemical Corp. are considering bidding for a Devon Energy Corp. stake in an Azerbaijan oil field that may fetch as much as $3 billion, said two people with knowledge of the matter.
A Chinese purchase would add to $18 billion of energy acquisitions since December 2008 as the nation scours the globe for resources to feed the world’s fastest-growing major economy.
Devon’s share of proved reserves at Azeri-Chirag-Gunashli was 64 million barrels of oil as of Jan. 31, 2009, up from 58 million barrels a year earlier, said company spokesman Chip Minty.
Based on that figure, the Devon stake is worth about $1.3 billion, said Biju Perincheril, an analyst at Jefferies & Co. in New York who rates Devon shares at “buy” and owns none. A price of $3 billion would be $45 per barrel of proved reserves, “which seems rich to me,” he said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIPdm4A8f0kI&pos=4
sfreed post
[theelephantfields] Joe Shea
...
Mon, January 11, 2010 2:55:06 PM
From:
sfreed101 <sfreed101@hotmail.com> [Chat now]
...
Add to Contacts
To: theelephantfields@yahoogroups.com
I have not posted in some time - no reason to. I have a reason now. I have spoken to a friend at Addax and I can assure you that Joe Shea has no idea what he is talking about. They are being very guarded with the data and any results so as not to compromise their position vis a vis the JDA and Nigeria. They have huge plans in the whole area and don't want anything to compromise their plans. I did not detect dissatisfaction in his voice, indeed he seemed quite contented with everything. I read it as the more they tell the JDA, the more leverage the JDA/Nigeria has over them. Disemination of information is very tactical.
I hope and believe you are correct. But, still have my fingers crossed waiting for the news.
After watching & listening to the video several times I was wondering, was Peter saying "hopefully in a few weeks (as opposed to a few fortnights) we say Yes", or "hopefully the answer is Yes we have hydrocarbons"?
Just wondering.
Here is what I found -
http://www.advfn.com/lse/ShareChat.asp?sharechat=AFR
Have been thinking that the news Mark has hinted about is that Addax or Sinopec has already signed up another rig to continue drilling early next year. Don't think they would consider it essential material that would require a press release immediately upon signing of the contract. That would be a nice bit of news. OMO
Spp, I'm not sure where you heard that Sinopec is drilling a 2nd well in Block 2. Can you let us know? By the update this morning: "This is an exciting time for the ERHC family. When this initial drilling campaign is completed, a total of five wells will have been drilled." This says 4 by DP and one by Sedco in the near future. Why wouldn't they clue us in on another well by Sedco?
Thanks
I am glad to hear the the gas is not all bad, at least not initially. Unfortunately I missed the Fishdog post. It appears he definitely has someone on the inside. Moderators, lets try not to delete posts too quickly.
I agree with you ssp, the Chinese now have controlling interest in the 3 blocks. SNP is not in this venture for the money but to secure oil for the homeland. They will be able to sell the oil to whomever without needing our okay. They aren't out to screw us, but why spend the money on us? Unless, of course, they want our rights to the EEZ (a very good possibility if these wells look good).
I'm surprised he would say this without someone releasing a statement. Wouldn't this be considered a material event. Maybe not for a large company like APC.
Most likely. Can always dream that they throw ERHE a bone!
If APC rumor true, someone at APC spoke out of turn. I would guess either AXC or SNP will put out an update after close today. We can hope.
Keep posting Homeport. Appreciate the articles even when not related directly to ERHE. Its easy to skim the article to see if I am interested, if not I hit next. Not like you post dozens of items daily.
Thanks again,
Rich
Jim, well, what happened???? I'm dieing to know the end of the story!!!lol
Watching this stock today is like watching paint dry. I guess all the traders have sold and no is left to buy.
I believe in an article someone posted earlier this week it specified 3000 m water, and another 2000 to 3000 m below mudline to salt. But don't hold me to it.
Did you miss the LOL? I appreciate your work.
Thanks for the ERHC chart. Never hurts to study the charts. But I am surprised that it was you who single handedly drove our sp to new lows last year. LOL
Please keep charting when you see some good results. Or if you see the opposite!
I'm confused, tryoty. Several articles have pointed out this fact.
Sinopec is paying about $16 per barrel of proven and probable reserves. The average for African and Middle Eastern deals in 2008 - a year that saw triple-digit crude prices - was under $5 per barrel, according to consultants IHS Herold and Harrison Lovegrove & Co.
In the past others have said $6 to 8 was the going rate for proven & probable. This indicates that Sinopec paid 3X the going rate. So doesn't that say they are definitely putting a high value on the JDZ?
Found TD Ameritrade. Works great. Will try your suggestion. Thanks Hope ERHE doesn't reach $5 while I am gone. Be a b.tch trying to sell from a mountain top!!!LOL.
Just got an i-phone. Clueless but learning. Can I get Ihub on it? Tried the App store. Leaving for vacation in Colorado and need to keep up w/ the ERHE news. Hate to come home to 2000 unread posts!!!
Help
Rich
No, you're kidding right??? You will scare some investors with that scenario (LOL). That's why it took so long for them to drill. What's the distance between blocks 1 and 2 potential sites? Hundreds of kms? Pity we didn't invest in the pipe company to supply all of that. We would be retired!
Mark, today is unfortunately my 50th. But, thanks to you, tamtam and now Homeport the day has improved immensely! Just need a PR from someone to run the SP up.
Thanks again y'all.
Possible another rig w/ Chevron in 2010.
Hopefully a "very" large egg! One would think this stock has got to move up w/, as Mark said, 20ish trading days possible till drilling.
I am especially interested in other oil or commodity companies that may appear similar to ERHE. As petermarx just pointed out its nice to know the market for your product is out there, you just have to it paydirt. There's always the ups and downs in any market but natural resources are becoming scarcer by the day. China & India are not going to go away even if the US falls on hard times.
OT - Other stocks
You moderators might consider, at some later time, allowing the mentioning of other stocks people recommend. Say from Sat mornings 8:00 Eastern till 5:00 PM Sunday. All messages must be prefixed with a OT. The message can tout a stock and give sites a person can go to get more information. However, discussions between individuals about the value of the stock on this board would not be allowed.
The only reason I learned of this stock was from the old TMR board 5 years ago when eliecat or cooter mentioned it. I will get even with them someday for tying my money up for so long!! lol. I hope all of us plan on diversifying some of our holding in ERHE at a later date, hopefully after it has climbed considerably. Having some new ideas to look into would be helpful to all of us, especially if the recommendation came from one of the posters here that I full is trustworthy.
Just a thought though it may be to much of a hassle for the mods if people don't follow the rules.
Back to ERHE and lets hope we learn something from Addax today.
Thanks spp. Great summary. There's potential.
Oops, meant to be replying to Sneak in 156593.
Sorry
Rich