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Mike:Printmail/mildtrans/MONGO has (maybe) more shares than most of us....so.... maybe he is trying to buy "MORE" cheap sharesof ERHE.Posts like EMDYAL's only facilitate the MONGOS of our board to find allies and try to spur conversation in ways that suit "THEIR" objectives.Caution by us all is needed when investing or posting."THEY" just need a little fuel for their Torch that "THEY bare.I'm a long since 2001 and have seen "THEM" come and go."THEY" usually show up during lulls or downturns in stock price as this eases "THEIR" WORK here.
Expect "THEM" ...lets not chat with them ...thats what "THEY thrive on.
Baz
....just using your post to reply to....not trying to single anyone out.GLTUA.."THEY" will profit along with us...lets not make it easier for them to ruin our party(even if they are drinking from the same punch bowl).
homeport:
Branco has friendly ties...imo...he sat on board of JMC while ERHC was in bidding round#2.He was also named as an alleged recipient of monies for his son's education via ERHC.I was trying to get info through google for you...but...no luck.I'm sure Balance has info.or others who have archived articles.
I'm sure there is a distancing form ERHC now...but,back in the day we had an ally.(couldn't hurt)
this is from memorry (fuzzy as it may be)so,open for corrections.
Baz
P.S. Homeport keep up the posting as it's nice to have STP articles available that (we/most of us) don't have access to.
Mucho Agusto
LOL Strass:
Glad you have seen the light and the error in your ways....(almost tongue in cheek).I will be the first to recind my opinion when we see this minor event(in print)detail any loss of production /or dissruptions in operations(as im sure Addax has built these events both now and future, into their figures ..plus own insurance policies on their assets and facilities).
This post is more for any newbies and not to belabor the point!
Baz
Strass :
No where in the two articles has it said Addax lost any days production from any of this.Just a reminder when "WE" discredit anyones posts here we should look for a factual basis for this.Fact:....no production delays stated in articles .....keepin it real!!!!
Bazil fawlty
Strass we both have about the same break even point...and i'm hoping you strike it big time here,along with all who show patience.
Regards from the inn at Torquay!
TRY:
YUP...and they know THEIR "cash crop" very well....very well!
baz
hey OJ
ya float says prett'near 500 mil like.
thought our cypherin was prett'near 300 mil like.
Any other cypherers with the prett'near gessintas pipe up.
sompin aint correct.
Baz
Go ERHE:..OT: Umbra...hope you mean North Americans...We Canadians had no small part in fighting for freedom.That was when we had support for an Army!...LOL
Sincerely
Bazil Fawlty...(at the inn...Torquay..U.K.)
P.S.To our southern bretheren.....have a great memorial day weekend.
LOL Wall:OT:IMHO we agree about easy oil being Passe'
There are many SAGD(steam assisted gravity drainage) wells being drilled in Canada's oil fields.Well pairs are used to steam treat the oil for up to 90 days then Bituimen is pumped out and either refined or sold as DilBit(diluted bituimen).Connacher oil and Gas is just 1 example of such success.15 well pairs ramped up to 10,000 bbls/day.these are small projects but returns are worth it at 70.$ oil.Easy oil is probably peaked out...unconventional oil will become popular. Exxon has just partnered with MOL(of hungary)to drill for gas in the Mako basin along with junior Falcon Oil and gas!!!! ...And then the Shale fields in ND.and Colorado shows much promise for hydrocarbons too.The huge Suncors' etc. are open pit mining for oil.Very cost prohibitive except for the price of oil these days.I'm sure we all have read stuff on this as our interests lay with oil production whereever and however.IMHO we agree on easy oil being exhausted ...so yes they are drilling miles into the earths crust.
Baz
disclaimer:of course North America will drill abroad so they don't deplete oil at home...easy or difficult extractions.
Claude:
Addax is a Canadian Company whose parent company-Addax-Oryx group are Swiss owned.Addax Petroleum is a new Entity with IPO registered in Canada,from a Swiss conglomerate.IMHO..the company deals with Canadian finacial issues rather than Swiss..IE: Taxes etc. I think if there are any foreign implications from Addax Petroleum,that would be Addax-Oryx's issues."Ramble On...Sing that song"
Baz
ERHE: IMHO we estrablished moons ago that MILDTRANS was MONGO so lets either ignore(with feature button) or just ignore him...lol....I guess since the filings are up to date and more transparent then ever..he ..has no way to bash anymore with them....so...now its just bash the share price.....poor little Mongo(go home stray dog)
Baz
Go ERHE!!!
to all Canadians....price per litre x 4.56 = 1 imperial gallon....we have been paying over 5 bucks/gal for some time now!!!!!
Baz
Ramp:
Afren is a real OIL company with Real Concessions underway...they also produce OILand Gas.They just had news about a cameroon concession that they signed PSC on and own 100% of it...with cameroon having a backin clause for 30%...If commercial I reckon.ERHE is only SO FAR..a paper vehicle for possible wealth(not sure if shareholders will reap benifits).
Time will tell on our Co.Afren is a producer!!!!!
Good luck to us all.....all imho
Manny
VIP:
thanks...most proxies you can...but hey ERHE?...never know...thanks again
Baz
VIP:
does that proxy provide for over the phone voting?...or strickly mail in..or live vote at AGM?...thanks in advance.
best to you
Baz
magic:
didnt fab's shares come @.40..or in that range?
is this significant? nt sure
baz
ERHE:you forgot ..or used to smell like a duck!!!!
Baz
hello Exceo:ERHE sp? EOD.
dont know if you missed that "nifty fifties" post.
Once again the poster has made a prediction!.....maybe we should all watch and learn...LOL
Baz
By the looks of the last pic clarity on (hate to refer to this)joe's blog,imho..looks like on the downward follow through(left side) we might see ERHE combining and then becomming a new entity trading on various markets.Now on the right side(probably same markets covered) ERHE might look to spin itself off by being on the aquiring side.doesnt look like any downward follow through on right to new entity.(all fun and games)
Baz
edit:a diff look from another blow up shows a circle around the two corners of the boxes I was talking about...so now I dont think spin off any more...lol...sorry ( "I KNOW NOTHING" )
Manuel
SR2:thats not me.
I have a pic in the elephant fields room though under 1 of the folders.
What ever happened to swinggingK...he also has a pic in a folder with Menenzes..LOL
Pic under nic BazilFawlty
Baz
erhe:
LOL could be..guess anything !!!
emox
I hear lots of chatter here!!
ERHE:
our partner is busy proving up oil....hope their successes rub off on us..AXC news
Addax Petroleum announces update to appraisal and development program at Taq Taq
TT-08 appraisal well flows at an aggregate rate of 35,750 barrels per day
CALGARY, March 6 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum"
or the "Corporation") (TSX:AXC and LSE:AXC) today announced flow test results
for the TT-08 well, the sixth appraisal and development well recently drilled
on the Taq Taq field by Taq Taq Operating Company, the joint venture company
formed by Genel Enerji A.S. ("Genel Enerji") and Addax Petroleum to carry out
the petroleum operations in the Taq Taq license area.
Two reservoir intervals were tested separately and flowed at an aggregate
rate of 35,750 bbl/d of light oil, measured gravity of 48 degrees API with low
gas oil ratio. The intervals tested were a 298 meter completion interval in
the Shiranish formation which flowed at a rate of 19,180 bbl/d and a 135 meter
interval in the Kometan formation which flowed at a rate of 16,570 bbl/d. Oil
flow rates from the Shiranish and Kometan intervals were restricted by a
128/64" choke size. The third formation, the Qamchuqa formation, was
encountered as expected below the oil-water contact and was tested to obtain
additional information on aquifer strength and fracture connectivity.
Evaluation of these flow test results is ongoing.
Commenting, Jean Claude Gandur, President and Chief Executive Officer of
Addax Petroleum said: "We are extremely pleased with the very high test rates
achieved from the most recently tested flank well at Taq Taq which included
the single highest flow rate from one formation in the program to date. We
have now successfully completed the first appraisal phase for the Taq Taq
field and have acquired a great deal of knowledge about the field in the
process. The ongoing success of our appraisal program at Taq Taq continues to
be very encouraging and is a significant further step towards our goal of
producing first commercial oil in the second half of 2008."
The TT-08 well is a step-out well located approximately 1.7 kilometres
east of the TT-04 well, which was located near the crest of the Taq Taq field,
and is the second of two wells designed to appraise the flanks of the Taq Taq
structure. The TT-08 well was spudded in mid-July and completed drilling in
mid-December, after the rig returned from drilling TT-09, at a total depth of
2,366 metres. Testing of the TT-08 well commenced in mid-February, 2008.
Interpretation of data acquired from the TT-08 well, including wireline and
five metres of core, confirmed the presence of a significant and extensive
fracture system in the tested formations as observed in the TT-04, TT-05,
TT-06, TT-07 and TT-09 wells.
The TT-08 well is the sixth and final well in the first phase drilling
and seismic appraisal program by Addax Petroleum and Genel Enerji. The second
phase appraisal program will commence with the drilling of the next appraisal
and development well, TT-10. The TT-10 well is also intended to test the
shallower Pilaspi formation as well as the potential of the deeper Jurassic
and Triassic. A second, larger drilling rig has been contracted by Addax
Petroleum and Genel Enerji and is expected to be mobilized during the second
quarter of 2008. The new rig will first spud the first exploration well at
Kewa Chirmila before drilling the TT-10 well.
The results of the drilling and seismic appraisal programs are being
integrated into a full field development plan which Addax Petroleum and Genel
Enerji expect to commence implementing in 2008. The first stage of a full
field development plan is expected to include an early production system with
the goal of producing approximately 10 Mbbl/d during the second half of 2008
from the Taq Taq field.
About Addax Petroleum
Addax Petroleum is an international oil and gas exploration and
production company with a strategic focus on West Africa and the Middle East.
Addax Petroleum is one of the largest independent oil producers in West Africa
and has increased its crude oil production from an average of 8,800 bbl/d for
1998 to an average of approximately 126,000 bbl/d for 2007. Further
information about Addax Petroleum is available at www.addaxpetroleum.com or at
www.sedar.com.
Legal Notice - Forward-Looking Statements
Certain statements in this press release constitute forward-looking
statements under applicable securities legislation. Such statements are
generally identifiable by the terminology used, such as "anticipate",
"believe", "intend", "expect", "plan", "estimate", "budget", "outlook", "may",
"will", "should", "could", "would" or other similar wording. Forward-looking
information includes, but is not limited to, reference to business strategy
and goals, future capital and other expenditures, reserves and resources
estimates, drilling plans, construction and repair activities, the submission
of development plans, seismic activity, production levels and the sources of
growth thereof, project development schedules and results, results of
exploration activities and dates by which certain areas may be developed or
may come on-stream, royalties payable, financing and capital activities,
contingent liabilities, environmental matters, and government approvals. By
its very nature, such forward-looking information requires Addax Petroleum to
make assumptions that may not materialize or that may not be accurate. This
forward-looking information is subject to known and unknown risks and
uncertainties and other factors, which may cause actual results, levels of
activity and achievements to differ materially from those expressed or implied
by such information. Such factors include, but are not limited to: imprecision
of reserves and resources estimates; ultimate recovery of reserves; prices of
oil and natural gas; general economic, market and business conditions;
industry capacity; competitive action by other companies; fluctuations in oil
prices; refining and marketing margins; the ability to produce and transport
crude oil and natural gas to markets; the ability to market and sell natural
gas under its production sharing contracts; the effects of weather and climate
conditions; the results of exploration and development drilling and related
activities; fluctuations in interest rates and foreign currency exchange
rates; the ability of suppliers to meet commitments; actions by governmental
authorities, including increases in taxes; decisions or approvals of
administrative tribunals; changes in environmental and other regulations;
risks attendant with oil and gas operations, both domestic and international;
international political events; expected rates of return; and other factors,
many of which are beyond the control of Addax Petroleum. More specifically,
production may be affected by such factors as exploration success, start-up
timing and success, facility reliability, reservoir performance and natural
decline rates, water handling, and drilling progress. Capital expenditures may
be affected by cost pressures associated with new capital projects, including
labour and material supply, project management, drilling rig rates and
availability, and seismic costs. These factors are discussed in greater detail
in filings made by Addax Petroleum with the Canadian provincial securities
commissions.
Readers are cautioned that the foregoing list of important factors
affecting forward-looking information is not exhaustive. Furthermore, the
forward-looking information contained in this press release is made as of the
date of this press release and, except as required by applicable law, Addax
Petroleum does not undertake any obligation to update publicly or to revise
any of the included forward-looking information, whether as a result of new
information, future events or otherwise. The forward-looking information
contained in this press release is expressly qualified by this cautionary
statement.
For further information: Mr. Patrick Spollen, Investor Relations, Tel.:
+41 (0) 22 702 95 47, patrick.spollen@addaxpetroleum.com; Mr. Nick Cowling,
Press Relations, Tel.: (416) 934-8011, nick.cowling@cossette.com; Mr. Craig
Kelly, Investor Relations, Tel.: +41 (0) 22 702 95 68,
craig.kelly@addaxpetroleum.com; Mr. James Henderson, Press Relations, Tel.:
+44 (0) 20 7743 6673, james.henderson@pelhampr.com; Ms. Marie-Gabrielle
Cajoly, Press Relations, Tel.: +41(0) 22 702 94 44,
marie-gabrielle.cajoly@addaxpetroleum.com; Mr. Alisdair Haythornthwaite, Press
Relations, Tel.: +44 (0) 20 7743 6676, alisdair.haythornthwaite@pelhampr.com
hope this post stays..lol
Dat
Yes this is true...but....if my olde memmory is okay...I dont think there was a bid for block 9...its been along time.(they do have %'s in block 9)
Baz
Dat
This page only shows in Yellow highlight ,the blocks that were bid on in round 2.It should have read,has interests in 6 blocks so far,as blocks 7,8,and 9 were dropped from the last bidding round.
Baz
ERHE: all it would take is like everyone else,to disclaim IMO....IMHO....or such....then we could all just quietly laugh at "IT'S" opinions.OPINIONS!!!
The problem is board clutter with responses to the "PHANTACIZER" and using unverified info from "IT" to base any kind of conclusion about "IT'S" posts.
I see no attempts by moderators to emit any warnings to the "PHANTACIZER" here for spamming...and many of "IT'S" posts dont mention ERHE in anyway...enough said.
IMO...IMHO
Baz
try:
lets not forget charity!!!
Finally that has to show up on the books this time...LOL
Baz
try
coupled with stepping down from the BOD.....avoiding conflict of issue stuff with alphabet soup gangstas
advice from legal team I suppose
baz
emdyal by being off structure...I meant...that IMHO,they went for a structure that had the best chance of uncovering the most information on JDZ geology.Off structure meant to be on the edge of such anomoly,one that would prove to cipher Geology and may not have expected to find (what we believe was a large find kept secret),copious amounts of hydrocarbons ,solid or liquid.I think they wanted to also find out the oil to gas ratios at different horizons .This would also determine commerciality of said Geology.
all in my opinion
baz
P.S. I too wouldnt be surprised if we were to hear that chevron also stepped out horizontally in diff directions(from the same first well) to further their knowledge and to compile most everything they needed .
Doug
I believe they chose not to use them but reserve them for a later bidding round....I dont save all the links , so anyone chime in please.IMO it was never a use them or lose them situation.We and others couldn't hold our choices back as we gained by XOM not assigning their 2 25% rights "SO FAR".
After 7 years of waiting ,I'm feeling the onset of Demesia with this stock....LOL .All MO
Baz
helo people:
IMHO..the target that Chevron drilled,with Exxons technical support was specifically drilled off structure(so we have been told)to test the Geology of the Block1 and IMHO most known other Blocks that have had seismic in the JDZ.Their conclusion with this target was that the Geology is infact stable and conclusive.The information they retreived was in support of what was assumed with 2 and 3D seismic.Hence when they hit significant amounts of oil in an Off structure test well, they concluded that there would be many oil baring Targets in the JDZ....this was the go ahead for all concerened.So a possible commercial discovery(commercial in Addax's situation) in Block1 off structure, is a Harbinger of huge things to come in this area.Now; XOM still has 2 25% rights in the JDZ.. not excersized "YET"...a 2% royalty "SO FAR" in Block1.They are still hanging around.Why not let others prove up the area with little outlay to XOM...and when the goods are proved and the #'s are acceptible with XOM then they will open their DEEP war chest and flip out some cash to take part as they see fit.There are still a few other minnows that can be bought out and XOM is as cagey as they come.Their business inpart is oil...maybe they have more than just a toe holding the door open for their big swoop.I dont care as long as I / WE make our money.Every one of us has their entry and exit points....so does XOM.Except they have 46 billion to play with and we are all strapped...LOL
Hope we can survive(till) the end game
Baz
try
Or we are running the registration booth...lol...that would keep our employees busy.Cream?.....sugar?....have a nice day!
baz
hi Umbra....I agree to a point.
What I didnt state was IMHO...that Countries(in Africa) with Vast recoverable and consumable resources will be the Emergers .I know that other countries (have nots) will remain as such.
Thanks for the correction
baz
Try
Imho...when Offor is told to sell he will...bigger Nigerian politicos in control.Having said that,and, nationalization in the future,
we(ERHE or some reasonable facsimilie)will be there for oil.
I just dont see the impetus to sell but rather,to build and amass oil in the name of Nigerian companies(covertly Nigerian High rankers).Remember other decades of emerging markets.....we are witnessing Africa FINALLY!!!..on it's emergence and with that some new world power.Enlightenenment is well upon them^^^^ and it is also well upon us????????
I think a new foreign exchange listing...and a delisting from western markets is down the stream.
some of us will be in tow....weeeeeeeeee!!!!
steady as she goes.
Baz
Saleen:
Dana Gas took out Centurion energy last year.Centurion had rights with Herculese that were almalgamated through Centurions purchase of Herculese .....Centurion as a result owned 10% of block 4...Google Centurion energy :timeframe Jan.2007
baz
erhe:
Been quite Uni-polar ....sub-polar....melting even lately.EOM
STRASS
post looked like it was bigfish who sent it.MY BAD!!!
We certainly would like a response of substance(this from a politician will be like reading Hyroglipfix,if infact he/she would bother...have my doubts).
staying tuned....Baz
Bigfish:
That was an E mail I presume sent to a senator.It's unlikely we would see his/her response on this board.Did you get an answer back via E mail? We are eagerly awaiting his response to you.Please advise us on his/her response .
P.S. Nice sentiment expressed there...I'm sure you will here back!!!!LOL
your time and effort is much appreciated.If only PEONS had some pull eh?
Baz
Ponzi
read the Ibox above the threads...many links there....that should keep you busy and lessen our annoyance with you......do some reading first....dont expect us to educate you .......BUT YOU PROBABLY KNEW ALL THIS.....happy reading
Baz
Sidewinder:
My thoughts and prayers are with you and family.
Baz.../...Winnipeg
Wally" touche'
I hope that"the" foreign govts' seemingly wanton lust is either for non-us companies(who seem to be hungrier) or smaller companies who are fastly wanting growth.this seems to be a factor in "their " protectionist stance on the AG's report.
After all is said, IMO, Nigeria and Soa Tome will stick to their guns and push for the fast track scheme to prevail.
I know we are hindered by Big US Oil(understatement), but hopefully shelterd by our new partnerships we forge.
We keep weathering storm after storm...we are still here....not because of big oil ie:cvx ,Anadarko,xom ,even the likes of Soros.
Baz