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Well stated Krom...solid thinking.
Any entity with 30 seconds of time in the course of their due diligence would obviously find the litigious history of the EEZ and in Block Four and would avoid unless the EHRE ownership was clearly addressed. I'm going to assume that the "interested parties" are all publicly held companies and would have to answer to their shareholders why they would have gotten into a potentially financially draining, time consuming legal fight if they ignored ERHE.
Rhetorical question I assume since it's quite obvious looking at posts...................
Thanks, DewD.......I'll check it out. The reaction that I thought could have been overall market related. We'll see in the coming days.
Looks like market liked the move............. You think that CEO would take CLF private or is this just a shout over the bow to promote getting a higher valuation?
kingpindg....just mentioned this to farrell90; I contacted Schwab who said that ERHE is on the Expert market which only allows liquidations. You cannot buy ERHE through Schwab. This is current information. Also I believe all of the Ameritrade accounts have been transfered and setup on Schwab. This happened several weeks ago for me.
In regards to the recent buys, they must be from outside of the U.S. accounts. Seems that they have been pretty active. It will be interesting to see how high they take this and if this portends of positive communication out of ERHE.
Opus X
farrell90, I contacted Schwab late Friday. I was told that ERHE trades on the Expert Market which only allows liquidation. This is current information. It appears that all the buys are from foreign exchanges and I tend to believe those are from the African interests that Krom has mentioned. IMO, their appetite seems large not sure where they'll take this.
Also I have a Schwab account for many years as well as Ameritrade. My Ameritrade transfered several weeks back and is fully consolidated with Schwab. It is my understanding that all of the Ameritrade accounts have been fully transfered. You may want to contact Schwab if you don't believe your Ameritrade account has not been transfered.
Good luck,
Opus X
Thanks, Yes was aware that they were not listed as official attendees but in past they've "unofficially" attended and worked the "back rooms" so to speak. Was not able to confirm that this time though. Doesn't mean they aren't there though.
Opus X
Must be hot in the kitchen if you are a short....took ERHE price down to .0013 on 183 shares.
ERHE reps have attended this conference in the past. Wonder if anyone from ERHE will be there for this one?
https://africa-oilweek.com/Home
It's the largest Africa oil industry conference.
Costanza Theory.......lol
I don't want to be a "Total" wet blanket, but OML 102 is some distance from STP/JDZ/EEZ and in shallow water. It's an existing find they'd like to expand as they said with existing infrastructure.
https://www.offshore-technology.com/projects/ofon-field/#:~:text=The%20oil%20mining%20lease%20%28OML%29%20102%20is%20located,Nigeria.%20The%20Ofon%20field%20lies%20in%20OML%20102.
With that being said, I like that Total continues to be active in this overall area of the world...........
Opus X
ROTFLMAO
It's been a long time coming................... could be epic! LOL
Nice first post Deep Canyon
YES....LOL
Definitely superior to desk sitting analysts.........wish I could tell you......LOL
Opus X
You may want to do a little more due diligence here and increase your investment. Much more than a lottery ticket. lol
Opus X
Still over 52% institutional ownership
https://fintel.io/so/us/ino
Also good report on Ebola booster results/presentation
https://ir.inovio.com/news-releases/news-releases-details/2023/Data-from-Phase-1b-trial-with-INO-4201-as-an-Ebola-Booster-for-rVSV-ZEBOV-Ervebo-presented-at-ECCMID-2023/default.aspx
Thanks Krom......
Once again after the initial rumors of the results in block six to recently calling it a "diamond" it sounds like they want to pump the brakes a little bit!?!?
Kingpindg, the underlined text is a direct contradiction to the recent Galp conference call where as you know they called Namibia and Sao Tome and Principe, the diamonds in their portfolio.
They did say that they are limiting their exploration expenses by selling off some properties, but it sure appeared that would not be Namibia and Sao Tome and Principe.....
Now if they wanted to do something like that to get additional $$$ to fund Namibia and Sao Tome and Principe or get technical/exploration experienced partners, wouldn't you think it would be after they understood better what they had in Namibia and further derisk Sao Tome and Principe?!?
Just a refresher of what Galp owns in the EEZ.
https://www.galp.com/corp/en/about-us/what-we-do/upstream/e-p-in-sao-tome-and-principe
Upstream in São Tomé and Príncipe
Galp is present in São Tomé and Príncipe in Blocks 6, 11 and 12.
Present in São Tomé and Príncipe since 2015, Galp acquired a 45% stake in Block 6, where it is the operator. In 2016, Galp expanded its presence with the acquisition of a 20% stake in blocks 5, 11 and 12. During 2019, Galp has decided to withdrawn from block 5.
In 2017, a 3D seismic acquisition campaign was initiated, covering an area of 16 thousand km2 along all blocks.
Following the geological and geophysical studies carried out on block 6, Galp and the other partners are finalising the preparation of the first exploratory well on the block. The well, known as Jaca, is expected to be spud in late 2021 / early 2022.
Galp assumed the role of operator for block 12 in 2020, replacing the previous operator, Kosmos Energy. Kosmos' stake was distributed in proportion to the stakes of the other members of the consortium.
Block 6
Consortium: Galp (Operator, 45%) Shell (45%) Agência Nacional do Petróleo (ANP) (10%)
Area: 5,024 km²
Type: Ultra-deep waters
Water depth: 2,300 – 2,800 metres
The block is located in the country’s Exclusive Economic Zone, in an underexplored but high potential area, as it is close to provinces with a proven oil system.
IMO, it will be less of a swing trade when they start providing some dividend.
Exactly!!!!!!!!! It's blowing me away that they are making Sao Tome and Principe properties equivalent in potential barrels and quality to their Namibia holdings.........
Yeah baby!!!
OX
Thank for this "pearl" or should I say "diamond" piece of information, kingpindg!
OX
Kingpindg, I think that you are discounting this too heavily....
the whole timing of the release of this information is indicative of some action and changes from the status quo.
As Krom said, the EEZ block four info appears to me the cleanup of the resolution of the dispute(s). The JDZ news talks about new contractors, possibly technical expert and a money group.
Great news...big wheels be turning.
2-7-23 8-K
Item 8.01Other Events
1.Block 2 of the Nigeria Sao Tome and Principe Joint Development Zone (“JDZ”)
2.ERHC and the two other companies (“Contractor Parties”) with working interests in the Block are working on a Joint Operating Agreement (“JOA”).
3.The JOA is an agreement that will, among other things, guide the relationship between the Contractor Parties in the operation of JDZ Block 2.
4.The JOA is pursuant to the Production Sharing Contract between the three Contractor Parties and the Joint Development Authority (“JDA”) on the Block. The JDA is the administrative authority of the JDZ.
5.JDZ Blocks 3 and 4
6.ERHC has been in discussion with the JDA on the introduction of new contractor parties to take up the balance of working interests not accruing to ERHC on the Block and which became available following the end of the initial exploration campaign on the Blocks. That initial exploration campaign involved the drilling of one well in Block 3 and three wells in Block 4.
7.ERHC’s Sao Tome and Principe Exclusive Economic Zone (“EEZ”) interests
8.ERHC continues to work on the issues and fallouts of dispute resolution, including multi-jurisdictional litigation and arbitration on EEZ Block 4 as well as legacy tax claims on EEZ Block 11. The costs associated with protecting ERHC’s interests in dispute resolution have had a significant adverse impact on ERHC’s finances.
Well said, LMLT!
I'd suggest peeling this announcement back. Advaccine has only aligned themselves with excellent support in all areas.
FWIW I'm expecting an announcement of Advaccine's "INO-4800" approval in China soon. It looks like the table has been set.
Looks like Advaccine has been approved to be traded in China.
https://www.xinsanbanbao.com/20230103/news/n70228.html
Go to link and translate or see below.
Advaccine's #1 product is Inovio's INO-4800.
To me this is the way that it has been setup to follow with announcement Chinese approval of some distribution in China soon.
Also further clarification on above link:
55 Beijing Aideweixin Biotechnology Co., Ltd. Beijing Pharmaceutical Manufacturing CITIC Securities Co., Ltd. Lai Yiran Beijing Zhonglun Law Firm Li Pan, Song Yuanyuan Shine Wing Zhonghe Certified Public Accountants (Special General Partnership) Liu Yuehua, Luo Laiqian No 2022 -11-24 2022-12-01 2022-12-22
What is Beijing Pharma? https://www.bloomberg.com/profile/company/BMEDGZ:CH Beijing Pharmaceutical Group Co., Ltd. manufactures medicines. The Company develops, produces, and distributes chemical medicine preparations, antibiotics, biochemical drugs, and other related medicines. Beijing Pharmaceutical Group markets its products throughout China.
What is CITIC? https://en.wikipedia.org/wiki/CITIC_Group CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping.[2] Its headquarters are in Chaoyang District, Beijing.[3] As of 2019, it is China's biggest state-run conglomerate[4] with one of the largest pools of foreign assets in the world.[5]
See https://www.citic.com/uploadfile/2022/0421/20220421263121.pdf : In our healthcare business, [CITIC's subsidiary] DCH Auriga offers tailored supply chain solutions to leading healthcare companies, distributing pharmaceuticals, vaccines, over-the-counter medicine, medical devices, personal care, nutrition and hospital consumables. Leveraging specialised infrastructure and capabilities including emergency delivery, robotic picking, real-time RFID tracking and advanced temperature management, DCH Auriga continued to grow its business across the region. This year, it opened a new sales office in Vietnam and now has operations in ten Asian economies. In 2021, DCH Auriga was appointed as the exclusive logistics provider for the Fosun-BioNTech COVID-19 vaccine in Hong Kong and Macau. It also distributed the Sinovac vaccine in Hong Kong and supported the distribution of treatments for COVID-19 patients in Singapore. It also launched an online pharmacy, Aurigamart.com, offering home delivery and direct access to an extensive over-the-counter product portfolio.
You got it Pops!
You bring the cigars........I'll bring the Pappy!!!!!!!!!!!!!
You got it OO!
Let me be the first to say; "Happy and Prosperous New Year!"
Thanks kingpindg.
I was trying to find what financial consideration upside ERHC has on block eleven and came across this article. What's interesting is that this article states ERHC retained 2 15% working interest in unlicensed blocks AND that STP and ERHC have agreed in principle to terms of the PSC for block 4.
Are you aware of any other future consideration for block 11? " immediately monetize one of our offshore holdings while preserving a financial upside in the event that exploration in Block 11 is successful"
ERHC transfers São Tomé and Principe Block 11 to Kosmos
October 21, 2015
ERHC Energy Inc., a Houston-based independent oil and gas company with oil and gas assets in Sub-Saharan Africa, will transfer all its rights to Block 11 of the São Tomé and Principe Exclusive Economic Zone (EEZ) to Kosmos Energy.
According to ERHC’s press release from Tuesday, the agreement has been approved by the National Petroleum Agency of Sao Tome & Principe (ANP-STP) as required in the requisite Production Sharing Contract (PSC) for EEZ Block 11.
ERHC President and CEO Peter Ntephe said: “Given the difficult global environment for doing deals, particularly for deep-offshore assets in frontier areas, we are very pleased to have concluded the agreement with Kosmos. The agreement enables us to immediately monetize one of our offshore holdings while preserving a financial upside in the event that exploration in Block 11 is successful.”
ERHC said it would retain 100 percent of the rights to EEZ Block 4 as well as the option to take up to a 15 percent working interest in each of two other unlicensed EEZ blocks of its choice. Furthermore, ERHC and the ANP-STP have agreed in principle to terms of a PSC for Block 4.
EEZ Blocks 4 and 11 are situated close to the proven hydrocarbon systems in the adjacent territorial waters of Gabon, Equatorial Guinea, Nigeria and Cameroon.
https://www.offshore-energy.biz/erhc-transfers-sao-tome-and-principe-block-11-to-kosmos/
Thanks for pulling that together! Wrapped up what we are seeing perfectly.
Merry Christmas!
Opus X
Right back at ya bro!
And a great New Year!
Opus X
That's great news Krom!
I'll consider this news as an early Christmas gift and a precursor of more positive action/news to come for ERHC Energy!
Take care!
Opus X
Saw that today and today's strong share price showing because of it. Greaat! I'm a long term holder of CLF and think that the CEO has done a fantastic job during his tenure.
My gut says that besides being good communicators that this good info for 2023 is to offset a particular bad quarter for 4QTR22. More gut that anything.
Opus X
Canada and UK-listed junior Eco Atlantic has wrapped up a deal to boost its stake in a highly prospective block in South Africa's Orange basin that is also attracting the interest of supermajors.
Block 3B/4B is believed by many explorers — despite the scale of the Venus and Graff discoveries across the border in Namibia — to be the potential sweet spot of the Orange basin.
As a result, operator Africa Oil and its partners are understood to be close to agreeing a farm-out deal covering a possible 55% stake in the acreage that could see exploration drilling start in 2023 or 2024.
One market source familiar with talks suggested that a farm-out agreement could be struck in the first quarter of 2023.
Eco Atlantic now holds a 26.25% stake in the block after its purchase of a 6.25% interest from the Lunn Family Trust (LFT) — for cash and shares — was approved by the Department of Mineral Resources & Energy and the Petroleum Agency of South Africa.
LFT is a shareholder in indigenous player Ricocure which has a 53.75% stake in 3B/4B, with Africa Oil holding 20%.
South Africa: Eco Atlantic boosts stake in ‘exciting’ Orange basin block where two probes could be drilled in 2023
Eco chief executive Gil Holzman said block 3B/4B “looks to be a very exciting licence for all the partners involved” following the recently completed reprocessing of 3D seismic data over the tract.
“We are upbeat about the prospectivity of the licence and following the significant oil discoveries, Venus & Graff, made earlier in the year offshore Namibia, we are pleased to be strengthening our working relationship with Ricocure and Africa Oil.”
Holzman noted that “we are seeing growing industry interest in the entire Orange basin, and in particular in Block 3B/4B,” highlighting how Africa Oil, Ricocure and Eco have agreed to a collaborate on a farm out process that could see a 55% working interest offloaded to a supermajor.
“In the past six months, we have worked very closely with our partners to identify and determine the prospects for a drilling campaign we are contemplating for next year,” added Holzman.
My comments: if they farm out 55% prorated by current % ownership, Africa Oil would end up with 9%, Eco a little under 12% and Ricocure a little over 24%.
Exciting times as this all starts to unfold!!!!!!!!!!
I've got nothing to add other than back in early September it was being speculated that the results in EEZ block six, if positive (since we didn't know then) would prompt acquisition of ERHE's permit on EEZ block four.
I'll take it one step further; with Total's extension for exploratory work on EEZ block one ending shortly AND with Total's earlier acquisition of JDZ assets, Total comes out of the semi-shadows with ERHC............on JDZ, EEZ block four (as well as their EEZ block one.)
Thanks for articles of substance and positive speculation on our near future.
Opus X
Excellent article Krom
As we have discussed it sure likes this has been slow played but the covers are starting to be kicked off.
Opus X