invisible
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buxmaker....IMO, 6 months to 12 months depending if the said operator has a ship on contract and in the area. Prior to drilling there is also the work for acquiring appropriate seismic and interpretation and well planning for PEL 87...and environmental approval by Namibia. I think 6 months is a good starting point, if things go smoothly. It would be nice to be surprised earlier! Lots of time for SP appreciation along the milestones.
Baz
buxmaker....IMO, 6 months to 12 months depending if the said operator has a ship on contract and in the area. Prior to drilling there is also the work for acquiring appropriate seismic and interpretation and well planning for PEL 87...and environmental approval by Namibia. I think 6 months is a good starting point, if things go smoothly. It would be nice to be surprised earlier! Lots of time for SP appreciation along the milestones.
Baz
buxmaker:it seems like the case....Data room has visitors...4 Majors...not there for just high tea and visitations. This is very encouraging and we might be in the catbird's seat listening and hopefully attracting some fine offers. Oil Rush is afoot!
Baz
carsonkid
thank you for the link...I have posted this also to PCOG stockhouse with props to you .
thanks
Baz
I doubt that if PCOG is still around for drilling, they will be the operators. If the could they could get 20-25% and sell the 50% to an experienced mid to major company and maybe a free carry of sorts for 1-2 wells that would be ideal and then 1 (or more) dollar would be achievable in a few years if a commercial success. The question is can they survive the time and expenses to get to the above points. 50 to 100 million dollar wells deep water, are the norm ,and could go ver by 50% with serious well problems, hope we get the chance..lol
Baz
yeah buxmaker, we are on the same astral plane.
Get in early...cheaply, then see. It is never a slam dunk with low funded minor explorers . The game as I see it is hold till a buy out or JV then take my cash out and leave free riders...win win.
But that is my bet...and there is also the going down the toilet side as well. I wouldn't be here trying to profit on the negative side. So:
Very Large Structure similar to Venus and Graf1
On Trend
Fan Lobe
75% lease holder
Same Basin (but northern region) as Venus,and Graf-1
More exploration to come in the region this year.
worth a go
Baz
halbroke1
regarding PCOG...this issue is listed as 1 of your last 50 posts....seem to be pumping a lot of stocks...sorry but not a good source of information...lacks credibility . good luck
all my opinion
Baz
https://investorshub.advfn.com/boards/read_person.aspx?membernum=123254
I "think" or IMO, time will tell and I will give you the benefit of the doubt on this gambit. I have enough to play this for a time till we see some tangible results....just not a play to go all in on JUST YET...looking for news as it would help most investors. Thanks for your opinion.
Baz
easy! this is a futures play.....so far...no partners that count yet. No telling when but my guess 1 to 2 years away from dollar status if at all....but a low cost gamble on the area.
https://finance.yahoo.com/quote/PCOGF/
other market bid ask N/A
buxmaker
It isn't easily tradeable on the expert market...where there is no bid or ask. You have to put in a bid and hopethere is an ask matchup or a willingness to sell at your bid price without seeing whats available. EG: ERHC energy which has been on the expert market for almost 1 year, with very little buying or selling info for traders.
JMO
Baz
high impact wells for 2022
https://ihsmarkit.com/research-analysis/2022-high-impact-well-report.html
high impact wells for 2022
https://ihsmarkit.com/research-analysis/2022-high-impact-well-report.html
high impact wells for 2022
https://ihsmarkit.com/research-analysis/2022-high-impact-well-report.html
hey how about an immature senior!
AOI is still undervalued quite a bit.
cheers
Rumors...leaks?
nothing official but! re: Venus.....bodes well for Saturn on trend.
Baz
https://neweralive.na/posts/oil-boon-beckons
imo...as Graf 1 and Venus started drilling close to the same week or so, and Graf 1 hit oil and 350 mil bbls,after prelim testing. Total is still drilling Venus bodes well for the fact that now Total should be at desired depths and soon to be testing ( we hope). I dont think that Total would be still on the well if there was nothing of interest.
Baz
Yup, me too get er goin!...but ERHC had more clout , many moons ago, ...honestly lets get to negotiations first then we shall see if ERHC has any HAND!
be well oldoil
Baz
oldoil
LOL @ demand!
Not quite in the cat birds seat with our financial state, but, suggest might be a better word and then get negotiated down from their suggestions. We shall see what the future holds...but, I would be shocked and excited if there will be negotiations with a Major in the future, having ERHC being in a position of Demand!
Semantics is a funny thing.
Baz
haven't seen any Govt. release yet, but, there is an oil and gas africa conference soon.
a grand audience would be nice
kingpindg:https://www.offshore-energy.biz/kosmos-energy-farms-down-asset-portfolio-to-shell-for-up-to-200m/
Old news but shows what Kosmos leases are owned....not sure about the litigation...but others might speak to that.......
September 9, 2020, by Bojan Lepic
U.S.-based oil and gas company Kosmos Energy has entered into an agreement with a subsidiary of Royal Dutch Shell to farm down interests in a portfolio of frontier exploration assets for up to $200 million.
São Tomé & Príncipe assets; Source: Kosmos Energy
São Tomé & Príncipe assets; Source: Kosmos Energy
Kosmos said on Wednesday that Shell would acquire its participating interest in blocks offshore São Tomé & Príncipe, Suriname, Namibia, and South Africa.
The consideration consists of an upfront cash payment of approximately $100 million, plus contingent payments of $50 million payable upon each commercial discovery from the first four exploration wells drilled across the assets, capped at $100 million in aggregate. Three of the four wells are currently planned for 2021.
Currently, Kosmos Energy holds stakes in six blocks offshore São Tomé & Príncipe – Blocks 5, 6, 10, 11, 12, and 13. Shell is already its partner in Blocks 6 and 11.
Suriname assets; Source: Kosmos Energy
Suriname assets; Source: Kosmos Energy
The company also holds stakes in Block 42 and 45 in Suriname and one in Namibia (PEL 039) and one in South Africa (Northern Cape Ultra-Deep Block). In the latter two, Shell is the operator of the block with a 45 per cent stake – the same as Kosmos.
According to the company, it plans to use up to one-third of the initial proceeds to test two high-quality infrastructure-led exploration prospects in the Gulf of Mexico, each offering hub scale potential with a low-cost, lower-carbon development scheme.
The company expects to use the remainder of the proceeds to reduce borrowings outstanding under its credit facilities.
Andrew G. Inglis, Kosmos Energy’s chairman and CEO, said: “With this transaction, we are continuing to focus our exploration portfolio on proven basins that offer superior returns with shorter payback and significant resource potential.
“The proceeds enable Kosmos to accelerate high graded exploration opportunities while strengthening the balance sheet, positioning Kosmos to create additional shareholder value. The contingent payments locked into the agreement with Shell ensure we retain upside from frontier exploration with no further investment”.
After the transaction is completed, Kosmos retains a focused exploration portfolio with over six billion barrels of gross resource potential in the Gulf of Mexico and West Africa.
The firm also expects to realize around $125 million in total savings across capital expenditures and general and administrative expenses over the next two years as a result of the transaction.
Closing of the transaction is expected in the fourth quarter of 2020 with an effective date of 1 September 2020 and is subject to customary conditions including government approvals.
Future looks bright for PCOGF Saturn play. CGX GUYANA moving well approaching TD with drill bit, have a peek.
Bazil
Regarding losses in ERHC
In Canada you can write off 25% of your loss against a capital Gain...the gift that keeps on giving...lol
Tamtam
I'm In!
that first purchase was me.....SHELL hit oil and gas and that Graff structure was quite small in relation to Saturn. Dipped my toes and hope for a tsunami in the future.
GLTUA
Baz
Thanks Tamtam
keeping my eyes open!
be safe
Is the huge Saturn prospect (PEL87) gonna be drilled 1st.half of 2022? Tamtam, etal what is the take on.....PCOGF....billions of shares, but, at .002 lots of room for sp appreciation. Not in yet but, when they start to get close to drilling, will dip my toes in the water. Is there an experienced deep water operator for this block yet? In discussions?
https://pancon.com.au/project-snapshot/
Baz
Hi Tamtam, Bazil here.... still kicking! Thank you for posting that link!
Here is the link to the PDF file associated with your link....just incase someone misses it. you have to hit the link on the page that comes up....in blue that reads:
Download Document 1.52MB
Stay safe, be well
Baz
Hi ajaxx 99
IMO, STP would have a say in what happens to a lease that they own. It would have to be common knowledge to STP in order to OKAY a contract lease that was changed.
The Owners STP own all the marbles and can dictate how they want their game played 9 within the laws of their land).
Krom
TransGlobe energy corp
bought it for .66 Canadian and sold it for 6.68 Canadian.
there are others as well....but people have examples.
Baz
Krombacher
https://www.reuters.com/article/us-addax-sinopec-idUSTRE55N59I20090625
JUNE 24, 2009 7:49 PM UPDATED 12 YEARS AGO
China's Sinopec to buy Addax for C$8.27 billion
By Reuters Staff
excerpt from above link
The company has grown quickly since being formed 15 years ago by Chief Executive Jean Claude Gandur. Geneva-based and Toronto-listed Addax, named after an African antelope, averaged production of 136,500 barrels a day last year from 537 million barrels of reserves in onshore and offshore fields in West Africa and Iraq’s Kurdistan region, including the promising Taq Taq field
manuel
when they went from the pinks to the greys ( CE ) "Caveat Emptor"
Ponzi
Links Please!
"That statement is factually incorrect There have been multiple news reports about made up companies with no employees receiving PPP loans or companies that overstated revenue to get bigger loans."
Krombacher
"There's no way to get PPP without revenue".
IMO there has got to be financial scrutiny, very detailed.
ERHC had to release the books for the SBA to approve the Grant, and IMO the figures had to be as recent as required. To conclude, ERHC IMO ,was not gagged at the point of scrutiny (i may be wrong on this point), but, according to ERHC they were hampered by a gag order at some point but seems, maybe not anymore. I agree with the point that ERHC is not interested at this time to release the books, and if they can and don't, and if they have the money to straighten out their records to apply for good standings with the SEC, and get off the Grey market, then why aren't they? There must be a darn good reason.
POSSIBLY
"The more nonchalant Erhc is about good news, the more I'm inclined to believe that they got this in the bag with Total".
Baz
TGIFF Video for investors RE: Nice video about TGIF !!!
If this video is real as it talks about 100x the SP----LOOKING AT $.13 at todays SP.. I'm for it. Should buy more shares
greenwillow
The whole company 1933 industries had 1.4 million revenue for January which includes
AMA ( 113% year over year ), and MFG infused.
Krombacher. even though this report was dated 2019...
I think you read this wrong as it shows the 1.65 million was from 2016
cheers Krom
manuel
ANNUAL REVENUE2016
$1.65 million USD
Dun & Bradstreet collects private company financials for more than 23 million companies worldwide. Find out more.
https://www.dnb.com/business-directory/company-profiles.erhc_energy_inc.0b145d0124d62e449754fabe9669c8bb.html
Nightdaytrader
wouldn't assuming Block 4 by Shell ( or whoever ), require acceptance by Sao Tome government? Shell's purchase of Kosmos's EEZ blocks were publisized, so, I would expect the same with this material information from Sao Tome government no?
maybe in the works though !
SEC ruling for ERHC no revocation.....so far
https://www.sec.gov/litigation/opinions/2020/34-90517.pdf
douginil
9 months and dividnds of 162.5 million. So far so good ...and hedged @ aprox $60. till 2nd H of 2021. Engina field is just starting up!
I think we will be ok......gotta get a vaccine to reopen life and economies.