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Kayakbob; Your Post Has Been Un-Censored.
Acquisition of oil firm in the offing
(Thanks To Kingpin)
By KENNEDY SENELWA, TEA Special Correspondent
Posted Saturday, January 10 2015 at 20:07
Nigerian oil firm Seplat Petroleum Development Company Ltd has approached London Stock Exchange-listed Afren Plc, which is exploring for crude oil in Kenya and Tanzania, with takeover proposal after ERHC Energy Inc announced plans to sell a portion of its assets in Kenya and Chad.
The deal will see Seplat gain a foothold in East Africa. Afren owns 80 per cent of onshore block 1, 100 per cent stake in offshore block L17 and L18 in Kenya, in addition to 74 per cent share of Tanga block in Tanzania.
Decline in oil prices
Nairobi-based Hydrocarbons Management Consultants said small to midsized exploration and production firms could be snapped up by rich rivals due to fragile conditions caused by sharp decline of crude oil prices.
“They have to sell part of their exploration rights to raise funds to expedite well drilling to comply with work programmes agreed on with Ministry of Energy in Kenya,” said Hydrocarbons lead consultant Robert Shisoka.
Rift Energy Corporation and FAR Ltd are seeking new investors to fund future exploration work in Kenya. ERHC wants to sale part of its share in block 11A in northwestern Kenya and Chad’s block BDS-2008.
“We cannot predict when or if this will occur. These strategies were already being pursued prior to the decline in crude oil prices,’’ said ERHC’s spokesman Daniel Keeney. The firm has 35 per cent cstake in block 11A.
Compañía Española de Petróleos and National Oil Corporation of Kenya each own 55 per cent and 10 per cent of acreage 11A, where a seismic survey to map out crude oil deposits was completed in July 2014.
http://www.theeastafrican.co.ke/business/Acquisition-of-oil-firm-in-the-offing--/-/2560/2585026/-/erjly1z/-/index.html
O.T. Some Oil Numbers
It has been a pretty rough six-month stretch for the energy industry. Crude oil prices have fallen about 55% since the middle of last summer, resulting in some of the world’s largest energy companies losing hundreds of billions of dollars in market value.
The price of crude oil has been relatively flat over the past two days, but it still sits below $50 per barrel — the lowest point in about 5 and 1/2 years — thanks to a global supply glut exacerbated by the ongoing U.S. shale boom as well as decreased oil consumption in Asia and Europe.
As oil prices have steadily declined, so too have the share prices of many large energy companies. Out of 24 oil, gas and coal producers in the Fortune 500, 22 saw their stock price decline between the beginning of July 2014 and Wednesday’s close. In total, the 24 companies lost more than $263 billion in market value combined, according to data from FactSet Research Systems. (A company’s market value is found by multiplying its share price by the number of its shares outstanding.)
Exxon Mobil and Chevron, the two largest U.S. energy companies, accounted for more than $95 billion of that figure as the two have seen their respective market values decrease by 11.7% and 17.9% in just over six months.
In terms of total lost market value, ConocoPhillips and Occidental Petroleum finished behind Exxon and Chevron, with more than $20 billion shaved off each of their respective market caps during the period — a 26% decline.
Only two of the qualifying companies on the Fortune 500 list actually improved over the past six months: Marathon Petroleum and Tesoro, both of which are oil refiners who benefit from lower crude prices.
Meanwhile, even coal producers have not been immune to the energy sell-off, as both Peabody Energy and Cliffs Natural Resources have seen their market values drop by more than half since July. And, Halliburton’s 44% stock dip since last summer is one example of how ancillary companies in the energy industry have been hit hard as well.
What’s more, the energy industry’s woes are likely far from over. While the broader stock market has rebounded sharply over the past two days, oil prices have yet to show significant improvement. In fact, some analysts see prices hitting $40 per barrel at some point in 2015 as oversupply in the global oil market shows little sign of abating.
http://time.com/3661959/oil-companies-lose-billions/?
Would Be A Disappointment Because Our Stock Would ONLY Go To $3.50!
Over My Many Years On These Boards, One Thing I Have Learned. The sign of a true basher. Of course they post something negitive every day no mater what the stock is doing, but they also love to use LOL or BAHAHAHAHA on days your stock is going down.
Just an FYI for the board.
I Think By The End Of Jan. Investors Will Be Sorry They Didn't/Or Happy They Did, Add @ These Prices.
I Agree. I think if one has the $5000. this is an excellant time to be buying. I'm talking to the investor who is tired of seeing ERHE going down and has pretty much giving up. And feels "I'm not putting another dime into this loser." I'm saying put in another $500. If you loose it, well $500 isn't very much these days. If you can't afford to lose $500 you probably shouldn't be playing in the stock market. But if I'm right, you might make $20,000. or more this year. IMHO It's very much worth the risk.
I Concur. My suggestion would be not to bet the house. But at least make (call it a side bet) a purchase of say $500. 40,000 + shares. If the stock goes to 0 (I don't see it) but OK, you lost $500. But if/when this stock goes to $.10 to $.50 ((or more)(in 2015)) one will feel pretty good with the extra 40,000 shares.
Yes Yes YES!!! Sell Sell SELL!!
Sell before the Drilling starts in Kenya
Sell before we hear the numbers in Chad.
Sell before we find out/disclose who our EZZ Partner is.
Sell before we hear/disclose how many Millions our new partner will pay us.
Yes Yes sell the company at it's lowest point.
That's the ticket.
37% Increase Over Last Fri., (Even After Todays Profit Taking.)
By the end of Jan. people will be wishing they had bought @ these prices.
40% Increase Today. 75% In 2 days. 86% Increase this week.
Jan. (No Later Than) eom
Cost: $1360,00 Per Year, (Too Rich For My Blood).
Or pay $30. to join, & then pay for each article you wish to read.
This Doesn't Feel Like Normal Trading/Circumstances To Me. Feels like someone is forcing this down. Potential partner (SEPSA) wants to pay $X & ERHE wants $XXX. Potential partner (or buyer) forces stock price down showing ERHE they can't make it by themselves. No way now to sell enough shares to do what needs to be done. Thereby being forced to find someone else or except $X???
I live in the S.F. Bay Area. I'm close to everything. But no Krogers, & Walmarts here don't carry it (yet)? I think the powder is the cheapest way to go. But needs to be mixed because of bitter taste.
My nearest store is 30 miles away. 4 weeks ago I went in. They only had 1 Jar of powder, period. No drinks, no packs. Only powder and only one of those. (Which I bought). And I was told that is all they carry at a time.
Called Fri. Was told they don't have anything in the store, but I could buy on line. http://www.vitaminshoppe.com/search/controller?N=0&Ntk=SiteSearch&Ntt=kona+red&Nty=1&D=kona+red&Ntx=mode+matchallpartial&Dx=mode+matchall&cm_sp=typeahead-_-1|kona-_-kw|kona+red
Buying 3 (X-Mas gifts)
They only have the Powder and the Packets. Good news is they have Free Shipping & the price is less than the Kred web site.
What I remember of Mark & O. Dad was that they told us there was a buyer who was going to buy every share he/they could get their hands on under a dollar. The price ran up and then they both dissappered.
We must all be careful who we listen to on the internet.
As crude tumbles, oil drillers seek to temporarily idle more rigs
Offshore drillers globally are increasingly considering "warm stacking" their rigs to take them temporarily off the market, as they gear up for a slowdown in the hunt for oil with crude prices sliding to five-year lows.
Rigs in warm stack maintain basic operations and most of the crew, and can be put to use once the owner gets a contract. Drillers put rigs in warm stacks to lower operational costs and also to keep them sufficiently ready for quick deployment, meaning they are hopeful a downturn won't be a prolonged one.
Rigs can also be "cold stacked", or shut down, which typically happens when an owner does not expect to find work for an extended period of time.
Oil prices have fallen about 40 percent in the past six months, with international benchmark Brent dropping below $68 to a five-year trough and nearing the marginal production cost of the most expensive offshore projects.
http://www.cnbc.com/id/102229434?trknav=homestack:topnews:16
ERHC Energy Inc. is pursuing an aggressive exploration strategy in three carefully qualified regions of Sub-Saharan Africa: the Republic of Chad, the Republic of Kenya and São Tomé and Príncipe. These areas were considered vastly underdeveloped.
http://www.energy-executive.com/features/petroleum/199-ehrc-energy-inc
(Thanks To Kingpin On The Other Board)
Let Them Sell Their Convertibles @ $.035 And let those of us that can, suck them up. When the good news comes around, the profit will be for us, not them. Like they're going to sell them anyway. I rather they sell @ $.035 than $.25
If You're Not Going To Tell Us, Then Why The Tease???
On The Good Side, This Product Is Easy For Everyone To Try For Themselves. Question for posters. Has anyone tried it? Any reviews from anyone??
I Do Think There Was A Pump, That's How I Found Out About KRED. And looking at the chart one can see it was followed by a Dump. Having said that, I do agree with you it is being carried by Wal Mart + some heath food stores. I plan to try it in a week or 2. (My closest store is 30 miles away). Also have heard good things about the product. So my thoughts at the moment are... Yes there WAS a Pump & Dump, but I don't think the stock is JUST a Pump & Dump. Time will tell.
Thanks
You Read It Your Way, I'll Read It Mine.
This Is All We Need To Know... "the technical team has found the data gathered to date to be encouraging."
The way I read it is... He's not allowed to tell us anything, and yet he's telling us "It's all Good."
Krom Has Sure Been Silent Lately.
Netflix Doesn't Have It Yet. Just lets you "Save" it until they do get it (if ever).
2013 Where oil flows, money follows. This documentary picks up the trail of that liquid gold as it streams through Western Africa. Shot over a four-year period, the film looks at the nascent oil industry in Ghana and the more established one in Nigeria.
I Myself Have Been Thinking The Same Thing. Krom may be right but didn't factor in that PRs take time to wright. Lawyers have to dot all the i's and cross the t's. All side have to agree. Maybe everything will be wraped up in a nice little bow after the 3 day holiday.
Yes AON, But Larger Amounts For Less Than My Bid Went Through. Why wouldn't the Market Makers want to sell at the higher price?
Hundreds Of Thousands Of Shares Being Sold UNDER My Bid.
I don't get it.
O.T. Texas Now Ranks Among World's Top Oil Producers
One of the welcome results of the U.S. energy boom is that light, sweet crude from places previously untapped becomes increasingly available and its presence can drive discounts on the nation’s benchmark crude, West Texas Intermediate (WTI), depending on where it’s going.
Texas makes that happen. On August 6th, Tom Kloza, GasBuddy’s chief petroleum analyst, reported that “the discounted WTI comes in the Permian Basin where the West Texas Intermediate crude near Midland sold numerous times for double-digit discounts off the NYMEX.”
More significant than the current discounts is the willingness of producers to offer wide discounts through the next 85 days or so. He noted that numerous deals for Midland-based WTI concluded at prices below the NYMEX October futures quotes. That’s good news for U.S. consumers.
Again, that’s all about Texas. Unfortunately, the state’s stellar growth is often overlooked, perhaps because some consider oil ‘politically incorrect.’ Nonetheless, the numbers don’t lie and some numbers recently reported by the Energy Information Administration are worth mentioning here.
Texas oil production topped 3 million barrels per day in May and that’s as much oil as all of Europe produced. Texas is on track to be producing 3.4 million barrels per day by the end of 2014. A year ago, the Lone Star State produced 2.4 million bpd.
Here’s a look at the top oil producing countries, with Texas included, in barrels per day from March, the most recent data available:
Russia: 10.1 million
Saudi Arabia: 9.7 million
U.S.: 8.2 million
China: 4.1 million
Iran: 3.2 million
Iraq: 3.3 million
Texas: 2.9 million
Kuwait: 2.6 million
Venezuela: 2.3 million
Brazil: 2.1 million
Read more at http://blog.gasbuddy.com/posts/Texas-Now-Ranks-Among-World-s-Top-Oil-Producers/1715-581556-2592.aspx#uYQcjwLss6quqm78.99
OMG We Have Hit Such The Mother Lode In 11A! That we don't have the equipment or the inclination to even bother with 12B.
(Something I had posted on another board. 7/12/14)
I Think Today Is Just A Mild Case Of "Selling On The News" Mostly because the News was a bit on the Mild side.
ERHE Made Rigzone...
ERHC Completes 2D Seismic Acquisition Program in Block 11A Offshore Kenya
http://www.rigzone.com/news/oil_gas/a/134427/ERHC_Completes_2D_Seismic_Acquisition_Program_in_Block_11A_Offshore_Kenya?rss=true#sthash.Y9pjWYdy.dpuf
(Thanks to a guy Seeking the Light)
Nice To Know We Got 39M In Our Pockets.
Back Above ALL Moving Averages, Even The 9 Day. + 106% (from the low of $.47 in May)
What Happened To The ERHE Chart? Why does it only go back about a year & not 5 or 10?
Great Post, I Just Think Your Chart Should Go From Exploration To BUY OUT.