Retired again
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WTO thanks for the video link. It is quite informative.
Looks like ERHE may be on the move again.
A New Ice Age to Begin in Europe « The Real Agenda Oct 5, 2010 ... According to them, when the stream is completely stopped, a new Ice Age will begin in Europe. So far, the results have been lower ...
real-agenda.com/2010/10/05/a-new-ice-age-to-begin-in-europe/ - Cached
I suppose one reason BB is so well liked is because he is a genuinely nice guy, has an analytical mind and is really interested in gaining insight throuh reasoning and logic.
I'm in for 185,000
Thank you Strategyone for your excellent post. I think you may be "right on". Let's hope so. Off course nothing will stop the nay sayers untill a well starts gushing like the BP well in the GOM.
From Elephant Fields:
Sfreed, you said:
> 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.
>
In the latest PR of the company PN says:
"The analysis of information gathered during the unprecedented, 5-well drilling campaign in JDZ Blocks 2, 3 and 4 is continuing.(...) During that period, the operators are expected to complete the analysis necessary to identify new potential hydrocarbon plays and develop further strategy for the Blocks.
Sfreed, do you agree with me that if nothing much of value was found they already would have announced it by now?
TIA.
Marcel.
Check this out. Scroll down for Africa News
http://www.oilvoice.com/n/Total_Announces_Hydrocarbon_Discovery_in_Nigeria/93cc5c5ec.aspx
How about this for drilling results?
Afren plc, announces that the Ebok Deep exploration well, offshore south east Nigeria, has encountered oil shows in good quality sands.
The Ebok Deep exploration well, located on OML 67 offshore south east Nigeria, has been drilled to a total depth of 11,375 ft (10,085 ft true vertical depth). Results of drilling and wireline logs have shown that the well intersected two sandstone intervals of 370 ft combined gross thickness in the targeted Biafra and Isongo formations, with oil shows providing good indications of oil migration pointing to potential for oil trapped up-dip from the current well location. The well has been temporarily abandoned and will be available to use for further drilling in the area.
The well has demonstrated a working hydrocarbon system in the deeper Biafra and Isongo formations, and that excellent quality reservoir sands are present. The results will be followed up with further detailed technical work, and will be incorporated into the subsurface model to assist in future exploration of the significant potential that exists in the deeper horizons at Ebok, Okwok and OML 115 which are contiguous with each other.
Afren has a comprehensive drilling programme planned for the remainder of 2010 that will target a combination of development, infill, appraisal and high impact exploration targets. The next appraisal and high impact exploration wells to be drilled will be at Okwok and OML 115 respectively, which will be drilled in H2 2010.
Osman Shahenshah, Chief Executive of Afren, commented:
'The Ebok Deep exploration well was the first to target the deeper Isongo and Biafra formations in the Ebok/Okwok/OML 115 area. We are pleased that the well results demonstrate a working hydrocarbon system and good quality sands at these depths with encouraging signs that significant potential for trapped oil exists up-dip in OML 115.'
King, I am wondering if you are a shareholder. I would also really like to know your reasoning behind your style of posting. I have been in this stock substantially for a long time and want to hear stuff that relates to the reality of the situation. You seem to come out of left field and we would appreciate some meat on the bone that gives credibility when you make your claims.
Looks like a good day at the market.
U.S. Stock Futures
Data as of 8:07am ET
S&P +6.20 / +0.54%
Level 1,158.40
Fair Value 1,153.68
Difference 4.72
Nasdaq +11.25 / +0.58%
Level 1,946.50
Fair Value 1,938.66
Difference 7.84
Dow +52.00 / +0.49%
Level 10,761.00
Futures based on June 2010 contract
RTK, you make the most sense yet. Thanks for your comments. When you get to the end of your rope tie a knot and hang on. I am a-hanging on.
Just a thought. The tragedy in the GOM could have some positive fallout for our little minnow. I will let others examime and debate this one.
Tamtam, you are so right. It is time for us to realize how selfish we can all be at times. The world does not revolve around ERHE even though we have high hopes for it. Orangedad was always a gentleman and set a great example for us on this board.
Mark, so sorry to hear of your loss. You will remain in my prayers.
SNP is no fool and ADDAX had other holdings in other parts of the world.
Does anyone have an update on Orangedad? I would be interested in knowing how he is doing.
Magic, thanks for the link. I havecut and pasted the info here for convienient viewing.
Based on the 3D seismic survey, acquired in 2003 by PGS and partially funded by Equator, NSAI made a
Best Estimate of Gross Unrisked Prospective Resources of 1.3 billion barrels of oil and 1.9 trillion standard
cubic feet of gas in total in the 10 identified prospects (Table 2).
The subsequent evaluation by the operator differs in detail with regard to the definition, size and ranking of
the prospects from the NSAI evaluation. For example, the operator identified 18 structures. Their estimate of
total unrisked prospective oil-in-place is 3.9 billion barrels and of unrisked prospective gas-in-place is 8
trillion cu ft, both at the P50 level. These figures compare with NSAI’s Best Estimates of unrisked prospective
in-place volumes of 4.7 billion barrels for oil and 3 trillion cu ft for gas.
While the discovery in the Bomu 1 well of gas rather than oil was disappointing, the reservoir sands and
traps were, by and large, encountered as expected. Further technical and commercial evaluation of the
discovery and the other prospects on Block 2 is underway. The JDA has granted a six month extension to 14
September 2010 to allow Sinopec to complete these studies and to allow the participants to make a properly
informed judgment on whether to enter the next Exploration Phase with its commitment of one well. Four
other wells were drilled in the JDZ, three in Block 4 and one in Block 3, simultaneously with Bomu 1. We
believe that the JDA may also grant extensions for these blocks allowing the common operator, Sinopec, to
integrate the studies on a regional basis to the benefit of the JDA and participants.
EQUATOR EXPLORATION LIMITED – ANNUAL REPORTS & FINANCIAL STATEMENTS 2007, 2008 & 2009
11
Table 2 - JDZ Block 2
Best Estimate Prospective Resources 1
as at 1 October 2007
Unrisked Risked
Gross
(100 Percent)
Equator Net
Interest
Gross
(100 Percent)
Equator Net
Interest
Prospect
Cluster
Oil
MMBBL
Gas
BCF
Oil
MMBBL
Gas
BCF
Oil
MMBBL
Gas
BCF
Oil
MMBBL
Gas
BCF
Central 369 403 33 36 100 109 9 10
North 410 807 37 73 111 282 10 25
South 440 501 40 45 111 126 10 11
Subthrust 130 158 12 14 30 36 3 3
Total 1,349 1,869 121 168 352 553 32 50
Totals may not add due to rounding
(1) Netherland, Sewell & Associates, Inc.
Exclusive Economic Zone of São Tomé e Príncipe
The maritime boundaries of São Tomé e Príncipe encompass an area of approximately 160,000 square
kilometres. The close proximity of São Tomé e Príncipe’s offshore waters to the proven hydrocarbon
systems in the adjacent waters of Nigeria, Cameroon, Equatorial Guinea and Gabon suggests the potential
for hydrocarbons, which is further supported by regional seismic data and petroleum seeps seen on the
islands.
In a joint venture with Petroleum Geo-Services ASA (‘PGS’), Equator funded the acquisition in 2001 and
2005 of ten thousand kilometres of 2D seismic data and interpreted more than twenty thousand kilometres
within the Exclusive Economic Zone of São Tomé e Príncipe (‘EEZ’). It was agreed with the government that
licences for the seismic data will be sold to oil companies to promote an oil exploration licensing round. In
return, Equator gained the right to acquire a 100% interest in two blocks of its choice. In addition, the
Company was granted an option to take up to a 15% share in any eventual back-in participation that the
government may secure in other blocks.
Prior to the current EEZ Licensing Round, the government invited the Company to make its first choice of
two blocks according to the Exploration and Production Option Agreement which Equator has with the
government. Following Equator exercising its option, the Company received from the government a letter of
allocation of the rights to Block 5 and Block 12 in the EEZ. The government has informed Equator that it will
begin negotiation of the Production Sharing Contracts during 2Q 2010. Signature of the PSC’s will commit
the Company to the payment of signature bonuses and to the execution of work programmes. Equator
intends to enhance the value and manage the risks of its opportunity in the EEZ by seeking farm-outs to an
acknowledged deep water operators.
Now that the EEZ Licensing Round has commenced, Equator can expect to receive a return on its
investment in the acquisition of 2D seismic data that will be licensed to exploration companies looking to
participate in the EEZ Licensing Round.
That is good news from a contrarian.
I recieved 6 proxies and I wonder how many recieved even more
Heck of a volumn jump in the last little while
ERHE ERHC ENERGY INC $0.58 +$0.03 +5.45% $0.58 $0.531 520,871 $0.90 $0.28
Yes and no volume
I just had a message pop up that said this site is unsafe. Anyone know what is going on.
Doug,
Hope you are correct but TA doesn't seem to say much with this puppy.
Here is hoping you are right.
RYOKO, I suggest you read Markgovol's posts
From Fidelity
ERHC Seeks AcquisitionsBY CapIQ
— 08:36 AM ET 02/12/2010
ERHC Energy Inc. (ERHE
Loading...
), which has reported cash assets totaling to $21,457,893 for the first quarter ended December 31, is looking for acquisitions. Chief Operating Officer of ERHC, Peter Ntephe said, “As the lengthy process of analyzing drilling results continues, we are aggressively executing the company's business strategy.” ERHC recently announced that it is looking for acquisition opportunities in the West African oil and gas industry.
I agree and thanks for the u-tube, I sent it to everyone I know
McAfee cause my puter to bog down so much as to limit use. I finally dumped it only to find out it is impossible to get rid of it.
MN, I am in the same boat. Enough is enough.
Whatcha think Oilphant?????
I believe Peter's body language tells much more than his words. All the conjecture about what is thought he said is meaningless. Look at the smiles, head nods and small hand movements and all I see is positive. All this is IMHO
Thanks Mark will be looking forward to your always welcome updates
I think Oily is telling ERHE goodbye because he is leaving
Middy that makes sense and certainly makes me feel better. As a matter of fact they would actually take longer to analize good data than a dry hole. Thanks for the info.
Sounds to me like they are logging. Pay dirt right around the corner.
ERHE
USDERHC ENERGY INC
Last [Tick] $0.71[+]
Change $0.015
% Change 2.16%
Bid $0.70
Bid Size 25
Ask $0.74
Ask Size 25
Open $0.695
Volume 27,260
Day High $0.71
Day Low $0.695
Previous Close $0.695
Prev. Close Date 09/29/2009
I am guilty. I bought 2000 @ $.68
Maybe ERHE is spreading its wings and is taking Afren and ELL to have a larger play.
Clay
ERHE is doing some funky things today. Reverse hammer??