invisible
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Pete im not sure,but it looks like "they" are taking positions in other areas besides oil exploration.You might be right on that we shall see.
Pete
IMO it seems angola has more confidence in STP's strategic logistics rather than exploring for oil there.just an obsevance with so far little information from Angola as far as taking risk on the oil exploration side.
midtier
Do you think SNP/Addax will now take input or advice from our new technical team? They seem to be qualified people, but what do they know in context to the JDZ/EEZ/Chad(im sure they are boning up with technical information)? Wildcat Exploration is difficult enough for the Majors who have experience,so, what can we bring?
midtier
Do you think SNP/Addax would have taken advice from ERHC no matter who was on board? We were and still are gnats on an elephant's butt,who might(we aren't sure yet) have some political future pull,but any technical advice?...that was and still is a laugh..IMO.Unless we were a real oil company with our own E&P accomplishments...then maybe we would have been allowed input.With our Money on hand and no E&P experience your reasoning for looking back is flawed IMO.We could never of had anything to contribute on the E&P side of the equation,as we were/are along for the ride.
I would have been in the black if I had sold at .42 thanks...lol
I agree. and IMO
The Jdz was their only guidance at first(knowing about the EEZ as well),till they were aquainted to the pace of the oil patch(fast track). When they became enlightened to the fact (probably by the minority shareholders)that their money was going bye bye at a significant pace, that would outpace the exploration rate, they changed their wish and a prayer(seemingly)guidance to persuing the revenue properties plan with little to no money.So,we as shareholders knew that was bunk,but cash was dwindled then swindled away.I guess we all should have taken some off the tables when their (mis)guidance was announced which was our fault too.Seems we are at a point with the share price where it is,and not worth selling and so:
let us all bend our heads and pray!
OML 40 Nigeria was not a go at the time we had cash on hand.If you are using the Les Blair card here you will have to look for another ERHC opportunity.I am not defending management as I too am not happy with our situation.I would just point out that particular blame is invalid IMO. Amj--their 46 mil was earmarked to stay them till the JDZ was off and running.I guess to some degree that plan is still on going and so,is still open for final judgement.Its been 7- 10 years since we got that 46 mil, and in retrospect if they needed this money to live till JDZ then they should have invested it way more wisely.
"you can't always get what you want"
http://investorshub.advfn.com/boards/profile.aspx?user=69504
maybe this will answer some questions..lol
seems Exile is aquiring some mining leases from Oando for consideration of Exile shares...then after Exile consolidation the Merger will be in affect and Oando will own 75+% of Exile.Im not sure if they plan to use Exiles name...but most likely,as the road for the least obstacles approach.
Cheers
or not!
http://www.oandoplc.com/media/press-release/frequently-asked-questions-on-oando-plc-and-exile-resources-inc/
Oando, in a statement on Tuesday, said the two companies “are pleased to announce that they have entered into a term sheet dated July 28, 2011, providing for, subject to the completion of satisfactory due diligence by both parties and other conditions, the acquisition by Exile of certain interests of Oando in respect of Oil Mining Leases and Oil Prospecting Licenses (Upstream Assets) in exchange for 100 million post-consolidation common shares in the capital of Exile.”TORONTO - Exile Resources Inc. (TSXV:ERI) has struck a deal to buy oil exploration licences in Nigeria from Oando PLC , a Nigerian-based energy company.
In return, Exile said Tuesday, the Canadian company will pay 100 million of its shares to Oando after a planned share consolidation.
The leases are a combination of producing, development and appraisal and exploration assets and focus on oilfields onshore and offshore Nigeria.
"We are very excited about this proposed transaction with Oando to build the leading indigenous upstream oil and gas company in Africa and believe this will produce great value for our Exile shareholders," Stan Bharti, Exile's chairman, said in a release.
The deal is subject to a definitive agreement, which the two companies will try to negotiate.
Exile and Oando are joint venture partners on Exile's Akepo oilfield in Nigeria.
In trading on the TSX Venture Exchange, Exile shares fell 1.5 cents to 7.5 cents, a drop of 16.7 per cent.
It says aquisition by Exile
maybe the TSX doesnt like the way Forbes manhattan group runs their businesses and their books require cleaning and updating.I say this because they have some companies in Iraq and are just playing stalling to sell games there ,as those companies are broke. JMO
sound post Amj..EOM
I thought that is why Oando was merging with Exile as they are Canadian and have a listing already...does the TSX have problems with Canadian companies?If anything they would have more reasons(based on your assumption) with ERHC(and their Nigerian face) than Exile...JMO
Bazil
edit: it's always about "US"....with nothing of substance to show! (rumour has it)
one of the slides refers to the chinese...rightfully, they are carrying us.
farrell90.......imo
The operator will come up with the cash up front and then bill the partners for their working interests...maybe the 200 mill was just for the total cash needed,and no extra %'s for other parties.As was discussed earlier ...in deep water drilling costs could meet 100 mill per well including all costs. (including contingencies for unknown occurances and insurance).
Yes AMJ..--IMO
Exxon left Block 1 when they and Chevron decided that for the cost the project would not work as a stand alone,and they didn't have/aquire any additional acreage.They also didn't want to take on Sinodax in competion or seemingly have ERHC as a carried partner.The Majors had/have bigger fish to fry...to them this was a sub-par project to tie into.
Arnim
SNP is in part (40%) paying or recompensating TOTAL for work done on Block1 as they are PARTNERS there.ToTal relies on China through SNP or CNOOC for financial backing..IMO they are not going to play that game with China...that is a fools game!
only my opinion.
Google ToTal and CNOOC or SNP and see how close they are and have become,in their Global projects.ToTal needs a good financial partner as they cant do these projects on their own....Cash is still King!
SNP are paid working interest partners with aprox 40% of Block 1.
Are you saying that SNP may not know what the drilling reports contain.IMO they will get info from TOTAL as SNP is being heavily relied on for development costs.
Seadrill Lining up Work for West Polaris
March 15 | West Polaris | 10,000 ft. Drillship
Industry sources have reported that Seadrill is in negotiations with an oil major for the West Polaris (UDW drillship). The contract is said to be for five years with a rate in the low-$640s. Currently, the rig is working offshore Nigeria for ExxonMobil. Total also plans to sublet this summer. ExxonMobil's contract with the rig, which has a rate in the high-$610s, ends in October 2012.
http://www.rigzone.com/data/
CNOOC is China's deepsea drilling arm with experience.IMO,even now after several years of being in AKPO,they would be still out of their league in engineering design ,infrastructure construction, when it involves ground up Major project in deep water.SNP is even farther behind CNOOC ,so,SNP could contract drillers but it's much more complicated than that. "Good Friend" ToTal will help find out whats really happening in these sands.SNP did their work by drilling on time and on budget...they met their contractual obligations and waited and wait on their "Good Friend" who take on these highly complicated projects successfully, and their "Playground" is best developed their successful way.
OT: AOl
this is what we were/are waiting for.Share price up 42%...Tullow the operator. It could happen to you!!
waiting
http://www.stockhouse.com/financialtools/sn_newsreleases.aspx?qm_symbol=V.AOI&newsid=8461273
same as what they were doing before the JDZ construction and the sniff of oil.Subsistance farming and such..while the politicians provide work on their plantations and cement factories etc... for the masses..IMO
these are no minor projects....maybe for the companies who are contracting,but,for STP these are major deals with large companies. IMO if all these MOUs succeed then there is a thrust behind all this that isn't associated with Fish, CoaCoa or chocolate.There would/will be BIG Money hopefully being spent in STP.(unfortunately this will hardly get to the populations poor...and might drive prices higher and make their lives even harder.)
Cheers
just being picky sneak.
#10----share price must exceed $.75 for 30 days
Yes,too many unanswered questions with too many multiple choice guesses.
Waiting and listening
ah...yes...and Gardening is therapeutic as is Out with the dog.
good day ..arnim-v-b
is this trading advice?
most here would see .123 as more likely...end of year?
Cheers ..but I think I'll stick with TA...lol
where is the 8 ball and ouiji board?
I hear that... ZOLTAR the forune telling machine is out of the shop again, now where is that quarter?....LOL
IMO---This is no different than anywhere else.....but in Africa its been made overt by the oppressed having to shame their "LEADERS".(funny what extreme poverty will do to society).The "Haves" dont care about the "Have Nots",and so there is protest,revolt,and bloodshed.
This results in death,change, and deja vu for the proletariat.This weak and unstable position creates an environment for terrorism to get a strong foothold which keeps undermining any possitive and meaningful change.
most times they are more invited then are the rumours. We need some meat and potatoes served..unlike the last just recent ERHC update..even though I guess I should be grateful for them telling us they are updating their shareholders!! LOL
IMO that was a "rumour" about a straddle of structures....Possibly Chevron needed more territory to stay in the game (JDZ) as they knew that the quantities per structure were not commercial on a stand alone basis.Block 2 structural maps as we have seen show no border structures. The structural maps show Block 2 as having possibly the largest structure which might enhance chevrons approach to negotiate,as well as the closeology to Akpo etc. Maybe "IF" chevron could have got more territory to "Operate" then it would have been worthwhile for them to stay and explore...and...with success in negotiating another block to operate they may have knocked on another block's door....too much conjecture,but, as far as straddling goes...seems the conjecture was halted back then!
Still we wait
cheers
Hey Brez..(always the optimist /comedian)
LOL.. Did you mean $.10 PPS? I reckon many here would take the $10 PPS and the heck with drilling!
cheers
I dont see the reference to drilling in the EEZ from this article.JDZ was mentioned for Total Block 1 .
to moderators
I was reading the Board as if I was a newbee and was wondering why this post was sticky noted (no offense 2IRAs or kingpind).The other notes have company confirmed statements in them. Statements with no verifiable info in them should just be regular posts, and should not IMO, be raised up to sticky note status. Again no offense intended .
Cheers...here's to 2012!
tamtam:
lol...maybe Middy is African and he meant "SOON"(you know fortnight and all)
you are taking middy too literal...his"now" most
likely meant in the 1st quarter of 2012.
How are the cherries looking?
cheers
3 drills in block 4(all exploratory) each a different structure...Kina,Malanza,and Oki east.
cheers
lol...ya I remember OJ and OJ jr. not I
Years ago my handle was Bazilfawlty....but I was not able to use that after I had cancelled out of I HUB. What ever happened to ddrago..Nick might know! I know what you mean about the info that we get.I beleve there is a large disconnect between the BIO GAS party line,and the activity related to Sao Tome,in deep sea port and oil terminals etc.I hope you haven't lost too much here if at all.I know I would if I sold.
good that you are still here !
Baz
SNP reported on their website that block2 gains commercial flow.
I dont have the link as it was deleted but, some members here do...hope they can post for you.
I see that thanks.....
march 3 2012 Afren reports JDZ block1 drilling both wells
H1 2012
seems time lines could be pushed back....
http://www.google.ca/url?sa=t&rct=j&q=total%20%20e%26p%2Fjdz%20block%201%20drilling%2Fspud&source=web&cd=5&ved=0CDwQFjAE&url=http%3A%2F%2Fwww.slideshare.net%2Fplsderrick%2Fafren-2012-trading-statement-and-operations-update&ei=fExiT4H3I6rL0QHenOXICA&usg=AFQjCNEcwkOt8I2mcgW8ppA7Lg-OWbSb8A
Shareholder Nominations
A shareholder wishing to recommend a person for consideration as a potential candidate for election to the Board of Directors at the 2013 Annual Meeting of Shareholders may do so by sending a written communication to the ERHC Energy, Inc. Governance and Nominating Committee, c/o Corporate Secretary at 5444 Westheimer Road, Suite 1440, Houston, Texas 77056, to be received by the Company, no later than November 20, 2012.
The submission to the Governance and Nominating Committee must include (a) a written statement signed by the potential candidate confirming that he or she wishes to be considered as a candidate and would be willing and able to serve as a Director if elected and (b) a written statement signed by the shareholder that includes sufficient information and specificity to (i) enable the Governance and Nominating Committee to confirm the writer's status as a shareholder of the Company and (ii) allow the Governance and Nominating Committee to evaluate the potential candidate in the context of the Company's criteria for selecting Directors.
Ponzi?
numbers correct but it was WesternGeco did the original estimates and calculations/seismic
http://erhc.com/files/71/