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Did you miss my first and #1 reason why the share price is where it is?Quantities of Hydrocarbons that would excite the investment community so far have not been found(all the rest is the accompanyments to the MEAT).IF so then you read to rebutt your position.We all know your disgust with management etc. but,what none of us know,is what is truely occuring in Africa behind the scenes.
The share price reflects the lack of oil or gas or condensate, in quantities, that would interest the investment community. Management has its setbacks...but as we are "Still Alive" (with a bevy of would-be assets where the quality is still unknown,(which isn't ERHE's fault), is a direct "Achievemnt" for a company this size with limmited capital to do anything substantial with.The fact that we are still landing asset bases is a testament to our management's indigeny, and ability to network at the highest levels,where others might fail.
IMHO....and here is where I agree with Badog(I know, I know!),it's the lack of Hydrocarbons ..so far..that has messed us up.
Baz
It was noted on SNP's website that the well gained commercial quantities .This was later pulled off their site (english version),but some here have it saved and have posted it up here before.Then there was a debate on what it really meant as could have looked fuzzy to some.
good luck
Baz
OT Rick Astley.."i'll never give you up" video...CHEESEY!! LOL
Spec29
Ahhh there is the rub! as we "heard"of a questionable letter of a supposed relinquishement from ERHC to the JMC to which ERHC has vehemently denied,that it was penned from them. MO...IF there truly was a letter signed by management then there would not have been any further need for arbitration to continue.STP would love (MO) to have us lessen our %'s as there is some mixed( bad/good ) blood between them as per ERHC's "Rich History".
bottom line ...I agree.
Baz
______It's never "just like that" around here without some questionable "Hanky Panky" out hovering about!
all "remains to be seen"...
one of our Mantras here among many!
Maybe Nick might set us straight
ICC and OEC...block 5
Filtim Huzod/Sinopec.... block 6
http://www.mbendi.com/indy/oilg/af/sp/p0005.htm
J E
MO..a company that already has the results from actual drilling close by.As I remember Block 5 has ICC, an Iranian oil company as operator or joint operator.IF the arbitration was settled with a possible new operator this also makes sense in this scenario,as to which I know nouthing! But you asked for possibilities I guess...LOL.
Also you would think the arbitration or private settlement would be outlined soon "IF" this is remotely happening..LOL
Baz
Merry Christmas to all Observers
Middy
Should we try AGAIN to correspond with the JDA or JMC or Sao Tome Or Nigeria..do you think we could get more information from them?The 2 countries are in a better position to press SNP for more details,I wonder if they have any more info than ERHC does.
baz
retired and on "land",but, earth?,my wife doesn't seem to agree!
All the best
Baz
Something is on the siesmics that would excite the oil companies to drill(independently assessed and calculated over the years by several parties).They just dont go poking holes helter skelter.Having said that,the results can vary and Surprise either good or bad.
The point is that there is good evidence that the GOG is prolific and the puzzle is to trace to the source.Hopefully we have source rock in our structures that contain HCs in various states especially an oil pool at the base. We didn't get close to hitting the base in our structures imo,and positively I don't recall them hitting water either.
We are clueless for the most part.
Biogenic Gas is normally found at shallow depths...and we don't know at what depths they encountered this BIO gas, and was it at a consistant depth from block to block? Does it correspond with OBO 1? They didnt hit water IMO so there might be room to go deeper.(they say it isn't necessary to go deeper.)
When we know answers we will be closer to the truth.
IMO the elevations are higher to the NE toward land.To get to the same depths of the formations as the lower elevations, you would have more earth to drill through in the NNE than the SSW.This is just a guess and was covered before by KOWNSKY even when they were on the drill program.Not sure if this is the answer but, a good place to start.
having said that I still believe from the info ERHC gave us that possibly they did not drill deep enough ...as hs been proven that seismics are not gospel.....but rather their game plan was established and adhered to.I dont buy that they got all the info they needed as there is lots unknown about what is down there and good chance that the Geology is similar across our blocks.
AMO---Baz
IMO The CC was comprehensive as even their technical team was involved this time.Most Questions were covered and explained prior to the NO-Live questions being asked. You may not have liked the answers but, it seems they didn't skirt the issues of concerns.
I guess thats why you are here eh Ponzarrelli.
Thanks for all your reminders,I can't tell you how much we look forward to your posts.
Predictable.......you are 1 ornery shareholder..LOL
we have some political pull which acheives the acreage.I also believe there is much behind the scenes here in the JDZ/GOG.Look at Khurdistan;big push by small players to secure risky territories and do the basic foot work to prove enough worth to the large companies.Consolidation is the way globally.
Maybe their "company in transition" comment was a hint towards starting off small in Chad and being more involved,as maybe Joint operatorship...surely the Block award winners (IF the concession is prospective) will have some pull over this matter.
Here's hoping!
They are getting Technically more ready with their newer team.
Baz
amj23
I know you know that it took ADDAX several years (BEING OPERATOR) to achieve 100,000+ barrels a day,and they were a real junior oil company..It "looks" like ERHC,"appears to be" that Erhc, for the first time "might" be able to be the operator and in control (which is what is best for ERHE if it survives).This is looking like the quickest way to a revenue stream...in Chad.
IMO- this will take 3 to 5 more years..
Just a slow thought about a fast track.
cheers
Baz
yes Southernman...
That is part of the 14 billion figure Western Geo first assessed throughout the JDZ. As more is known and drilled and discovered,the 14 billion will possibly become a closer reality...and not just assessed but proven.
this takes time.
Akpo went from 100/200 million barrels to over a billion after 44 wells drilled and 10 years of a work program till production. The JDZ is in it's infancy and judging by the surrounding closeology Geology to Huge finds, there is mega room for appraisals to prove up numbers bandied about by Western Geo services as well as PGS and their figures.
Baz
krom :
good post sir and after reading a few posts ahead ..it appears you knocked out "THE DOG" with that 1.All that could be responded
was....
badog
Tuesday, December 13, 2011 11:52:24 PM
Re: Krombacher
Post # of 250455
"Thanks for the time it took to put that together into a post Krom. Actually I was aware of all that. I've changed my mind...I don't want to pursue this after all.
Thanks again"
Badog
LOL..LOL...with head shots like that hopefully you ended his carreer here..LOL
Thanks for that
Baz
check out page 38 from afren..
http://www.proactiveinvestors.co.uk/genera/files/companies/afr20071024.pdf
For those who would compare geology from AKPO to JDZ,this is what prelim was like.
Akpo Deepwater Discovery Disappoints Total
Total Fina Elf's much-hyped deepwater discovery in Nigerian oil prospecting license (OPL) 246 has turned out to be less significant than first thought.
According to information and documents compiled by Total, the two Akpo exploration wells drilled so far have found estimated reserves of 200 million barrels of crude and condensate in place.
This means that, as matters stands, the Akpo field is not in the same league as other major deepwater finds in West Africa. Indeed it is well below most previous estimates, some of which had suggested reserves of more than 1 billion bbl.
http://www.highbeam.com/doc/1G1-67920173.html
drilling depth from sea bed here was aprox 6977.75 feet by these calculations and your numbers.Also sea bed elevation is higher in the NE and trends lower to SW..which affects the depth in ground that was drilled through.If water depths are similar then imho the wells in the NE would have to be deeper in ground to get to the same depths as in the SW.
Baz
tryoty
the difference is the water depths and we are in some of the deepest in the area so..the actual drilling depths may vary enough and more than just 500 feet....TD is from drilling deck,or water line... IMO
julius(Dr. J)
it's aparent badog can't read.SNP is in it's infancy when it comes to toopwater and especially ultra deepwater.That is a good place to learn under the tutaledgeof Petrobas in Brazil and Total globally.Maybe we need to print in LARGER FONTS for the Bahhhhhhdog to understand.(good luck with that one!)
SNP has admitted that they are lacking of talent and experience in deepwater so ignore the illiterate.They admit this themselves.. and that they are entering deep water projects not as the operator,but,financial partnership for increasing acreage and reserves,but that is not good enough for the Bahhhhdog!
This is what he can't comprehend.
baz
http://www.chinadaily.com.cn/business/2011-05/19/content_12537811.htm
P.S.I will say this to the Bahhhhhhdog,,,I admit YOU don't know...okay I said what he wanted ...what a !@#$%^&(_
goodbye badog see ya finished with ya
go answer your own questions
all it takes is some reading ...like the whole article .
This is my last post to you.......now scat
Opus X
Thank you ...good reading ..I hadn't seen this yet,but,I am following this and brazil offshore.
regards
baz
However, Zhang said that SIPC faces obstacles in talents, technologies and experience to conduct offshore drilling, especially in deep water.
"It has not been long since we started offshore operations. So, in some cases, we will cooperate with other producers to jointly explore deepwater oil and gas projects," Wang said.
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However, Zhang said that SIPC faces obstacles in talents, technologies and experience to conduct offshore drilling, especially in deep water.
"It has not been long since we started offshore operations. So, in some cases, we will cooperate with other producers to jointly explore deepwater oil and gas projects," Wang said.
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Badog
this is for your questions to me....
http://www.chinadaily.com.cn/business/2011-05/19/content_12537811.htm
However, Zhang said that SIPC faces obstacles in talents, technologies and experience to conduct offshore drilling, especially in deep water.
"It has not been long since we started offshore operations. So, in some cases, we will cooperate with other producers to jointly explore deepwater oil and gas projects," Wang said.
Comments(0)PrintMail
0
However, Zhang said that SIPC faces obstacles in talents, technologies and experience to conduct offshore drilling, especially in deep water.
"It has not been long since we started offshore operations. So, in some cases, we will cooperate with other producers to jointly explore deepwater oil and gas projects," Wang said.
Comments(0)PrintMail
0
Badog
this is for your questions to me....
http://www.chinadaily.com.cn/business/2011-05/19/content_12537811.htm
ribsnwings
the Repsol(40% owned by Sinopec) developed, "Kaleidoscope" program, has been doing a good job for their projects in Brazil presalt basins.
cheers
baz
what you don't hear is that 1 of those 5 wells was an OPTION that was approved by the JDZ ..if they wanted to hault for a time they most likely as you state would have stopped the fiasco(4 dusters) before the 5th well.
or now pause the drilling after 2 years of analysis?...I dont follow as after 4 dusters(so you say) why aprove another go at it with the same Keystone cops?
Baz
badog the Operators drilled an OPTION well that was given thumbs up from JMC/JDZ ...so they aproved drilling another well.
It helps to know SOME history.
Baz
Yes...bob
CNOOC..the other Major oil Exploration company is big partner in Akpo and to China,locking up acreage is essential for future economical sustainance(no matter which Chinese company). SNP is partnered with ToTal in many projects globally. France has always turned a blind eye,when China was/is critisized for crimes against humanity etc.They make a good fit and China will learn at an excellerated pace with ToTal as they are Technically on the cutting edge with some of their projects.
Baz--IMO
IMHO..I don't think ToTal would want to foot 100% of the project when SNP have made good $$$$ partners with them prior.
Baz
TOB
You can't possibly say this as the drilling hasn't gone deep enough and the temperature is not hot enough at ERHC's TD levels to be able to conclude this.Further if they do go deeper and find a salt cap trapping T gas, then your thermogenic seepage theory might be in jeapardy.
"Where there is no system, in a rich sedimentary areas such as the GOG, all the thermogenically produced oil and gas would have long since seeped to the surface and been consumed by bacteria.as well."
Baz- we just don't know yet
Quite possibly..
this could imply that
1 either Addax/SNP new by all indications about hydrocarbons laying below (and are in a better bargaining possition with ,junior partners and OIL State),and so will only have to report the Biogenic results.
2 Their inexperience as operators and their need to drill X amount of wells (plus option as it turned out)in a certain time frame, mixed with non oil bearing results,so we hear,dictated the deciding depth to hault and move on.Results to be passed on to ToTal for a peak at as the "master plan for the JDZ if possible" (since CNOCC entered AKPO and for SNP to enter JDZ), and then to Partner with SNP eventually! This along with other initiatives will tie up acreage throughout the GOG. I'm rambling to my own opinion here.
2 possible scenarios ....both with the same covert intention.
we were told that the JDZ drilling round was to gather info of the area and confirm geologies etc.The question is FOR WHO..who will likely have the knowledge proven success with this geology and who can deliver results for the JDZ.
MO..Only TOTAL as they are going to octopus their infrastrucutre through out the regions where they can find commercial Hydrocarbons in whatever state they can as they can render off condensate etc.
sorry for this ramble
baz
Julius, tell Dan that We(ERHE) shareholders know they need to drill 1000 meters deeper to be sure about oil or no oil....all the rest is just a cover up as I'm sure they didn't expect to find oil at the depths they drilled(see OBO 1's depth of drilling) ...or they need to go back to school and the drawing board.
SHEESH
Baz
very interesting publication on Nigeria Gas from shell's documentation.
Baz
http://www.beg.utexas.edu/energyecon/abuja_07_workshop/NIGERIA%20GAS%20ISSUES%20(Prof.%20Onyekonwu).pdf
page 16 shows region and Gas migration upwards from mature fields to immature biogenic gas closer to surface.
so the engineers and techies know all about this and what the implications are for deeper drilling in the JDZ.....so...technically all that was found was biogenic gas since they didnt drill deep enough.
Okie east was drilled with little or no info....If they went deeper there to confirm and not unveil the info,then I suspect it is only the public that are being mushroomed on this and the OIL Companies know the potential herein.
Julius
baddog is here fairly often after a rest ....Midtier is gone for his rest now.Both subtle bashers who wouldn't say much if they weren't egged on.....let sleeping DOGS lay....your retirement from the NBA will be much more peaceful...AND so will OUR time here.
thnx
baz
this should have read that this is not entirely proven or accepted NOR rejected.....still in study.(they should ask ToTal..lol).