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Looks like ERUT is showing good results as logging while drilling continues according to Kenyan Energy Cabinet Secretary, Charles Keter.
http://media.reelforge.com/player/video.php?storyid=323599317&encryptid=vq8gn91x5mj7b6zd0cf4trk32ywshp
https://citizentv.co.ke/business/early-oil-exports-to-start-in-april-154198/
http://www.africaoilcorp.com/i/pdf/Corporate-Presentation-Sept-2016.pdf
always nice to have a relook at this presentation as they are drilling ERUT now.
this stock has the potential to reclaim losses from ERHC.
happy new year everyone
it seems like up will be the natural progression with AOI as they are doing things right.
seasons greetings
Straegyone
Ironically, this oil drop has given me a chance to recover.I have a handfull of other oil stocks that are being hurt by low oil prices,but, for someone who follows oil companies or areas, AOI seems like a sound pick with a healthy financial state and Oil discoveries to back their balance sheet. this isn,t even counting their carries. Good Show! for those in AOI.
Happy Holidays
Baz
glad I got in here as I have ERHC losses to recover and this will most likely do it. 25% closer!
Good Luck here
Baz
Do you mean a 2 faced book?
Management have not been straight shooters but rather hiding themselves and company information from shareholders.
You will need Luck like no other with ERHC.
Good Luck
Yes....but in the last 10-15 years outside of acquiring prospects that are unproven ,they haven't done much of anything right.......but you know best for you and the trades for milrays
Maybe they should as there is hardly anything left to achieve. Get your Milrays here ,or peanuts, crackerjacks!
ERHC is basicaly out of Block 11 SAO TOME EEZ...wrong info there. ERHC does have interest in Block 4 EEZ.
You are kidding right?
They are not in a position to buy anyone as they are looking at survival themselves.
Circle Oil plc Strategic Review
? As at 31 December 2015 the Group had Cash of US$10.0 million but receivables from Egypt and
Morocco of US$21.6 million. The total debt position of the Group is US$77.5 million and there is a
further US$14.1 million of trade creditors
? In conjunction with a waiver from IFC regarding any repayments and delaying a redetermination,
on 15 March 2016 the Company announced it was considering a number of options to reduce debt
and ensure that the Company has sufficient cash flows to fund future operations
? The scope of the options considered under the Strategic Review include, but are not limited to:
? a sale of one or more of the Company's existing assets
? a corporate transaction such as a merger with a third party
? the sale of the entire issued, and to be issued, share capital of the Company
? the raising of capital in the form of a subscription for new ordinary shares in the Company by
one or more third parties
? Following receipt of proposals the Directors believe that it is likely that there will be no value
attributable to Circle Oil plc equity holders
as long as you new traders are buying, the conversion note holders are happy to sell to you all.
That is where all the dumping is coming from, and they have a 60% discount on their shares...so help them out will ya fellas!
try the donkey chasing a carrot on a fishing pole imagery.
that might be 1 explanation
Go look at the History between EXXON and CHEVRON and ERHC .
Look you newly acquirers of flipping shares have nothing to contribute except go ERHC RAH RAH RAH....just go look at all your posts rediculous and stinks of penny flippers....just be silent as you contribute nothing here.
I challenge all you flippers to post anything about the company ERHC you "OWN" shares in, that isn't a cut and paste or copy of another's DD. Lets see your work here then you might have something to contribute.
RAH RAH RAH
he can have his demise or success, I don't care.
I think, IMO that the board is not happy and his pumping for pennies along with his team is not appropriate as he most likely knows the sting shareholders have taken here.
I don't mind traders..hope they make their stipend but they can do it without constant chatter which stinks of "the pumper" and their overt behavior.
good luck to you gambler.
L2 we know
make your $500.00 - $1,000.00 dollars here then move to the next one to pump up for your small profit.
nothing wrong with trading ....just the continuous pumping along with all the guests appearing here.
Real shareholders don't appreciate your tactics as most here are beaten down and not amused with this behavior.
Good luck ...but can't you make your pennies without the constant white noise you and your guests are projecting here?
okay I guess I will try to answer you fairly. I don't know if you have heard but the JDZ which drilled 5 wells offshore...found no commercial quantities of oil or gas. Nothing substantial has happened there for ERHC since 2010.
The 14 Billion of projected oil in the JDZ, has become slightly less than 14 billion...LOL. The SAOTOME EEZ which ERHC has sold off Block 11 to Kosmos for aprox 4 million dollars which is no longer in ERHC's coffers but ERHC has retained some kind of milestone %. ( who knows). ERHC still has Block 4 But sitting Fallow ,no money to proceed and based on sale of Block 11 ...maybe not worth more right now than 5 million,which would be divvied up to financial obligations (not much if any left).
Chad well it seems,looks like a lost relative as it realy isn't moving forward as ERHC is lacking in MONEY!
Kenya drilled 1 well which cost ERHC 4.5 million aprox that they may be owing partially or in full as WE don't know. We also don't hear any word of commercial quantities in Kenya as that well was exploratory and not turning into a producer. Maybe ERHC will be involved in Kenya or not going forward we don't know . What we do know is that they have bad bad bad financials right now with not much informing of the shareholders about what will be happening in Kenya. Nice to have "great ASSets" before drilling,
but maybe not so great after like the JDZ and maybe Kenya for ERHC.
When you are broke .....THEY start to come after your ASSets!!
Good luck
sorry man I can't stand the comedy my stomach is hurting now!
Good Luck
ERHC information from that Past? 2011? You have to be kidding right?
OK I get it!
You are the Stand up comedian of this Board.
Your'e levity is much welcomed on this uneventful and for the most part, unhappy sentiment BOARD.
Good Luck
More than 5 1/2 year old news?......this is honestly what you based your time machine Value assumption on? Try using the market cap of at least the year 2016 and dividing that number by all shares outstanding.
This is a better way to see present Value and where you want to see it go: is 1 thing, but using over 5 year old information as a present Value assumption is to be fair,not very wise of you.
Now having said that I am not wise on ERHC as well as I could have made a ton in 2005-6 when it hit high $0.90's. I chose to be greedy and now will probably have a huge tax write off.
Good Luck
What are you basing that opinion on knowing there are 2.75 billion possible convertible notes available for sale at a huge discount to the note players. Most shareholders are screwed and others who are new are trading for millrays of a penny. I hope you make thousands here....probably gonna take you and L2 and the lot many pumping posts to make it happen.(sarcasm here).
make that worth about 120,000 not 100 million. do the math.
I used 75 million outstanding x.0016 SP. If you prefer to use old news numbers of 40 million shares outstanding x .0016 it equals 64,000.00.
good luck
Im helping no one
I am a 14 year bag holder here. The facts hurt.
My other Alias here and raging bull was bazilfawlty,but IHUB wouldn't let me use it after I had to resign from the BB technical problems so I resigned up as manuel06 anyone anytime can search that up I have nothing to hide. How about you?
I used to be a positive poster here.....but nothing really left to be positive about at my cost per share.
I do hope something material happens positively for all shareholders. I and many here have lost their gamble with ERHC unless something HUGE happens.
Incase you ask?......It is not worth me selling at this point.
LOL...why do you think these new aliases are here trying to push up the share price?
IMO they are CD holders or penny flippers that would be happy for an uptick
no matter how much. They are preaching to a worn out choir that won't be swayed by these pumping maneuvers.
Good luck to true shareholders, but I fear we are near an end here.
bazilfawlty
November 16, 2016 - 04:26 PM 1 Reads
Post# 25471425
image: http://www.stockhouse.com/Stockhouse/images/stars-mask.p
RE:BAD SOURCE
NOW OIL NEWS KENYA is reporting a 180* turn about in reporting on Cepsa's and ERHC's drilling in Block 11a. WHY do they report news that is not confirmed by the companies doing the drilling. This RAG reporting has cost many lots of money on BOGUS reporting on Rumor and innuendo NOT FACTS!
OIL NEWS KENYA....here is a tip . If this is the best you can do , don't report anything. You need headlines ? Go ask the companies doing the drilling not 3rd party missinformed rag reporters.
YOU SUCK!!
Read more at http://www.stockhouse.com/companies/bullboard?
symbol=erhe&postid=25471425#oc6Y3Z3uuzx2UDSo.99
manuel06 (baz)
irreparable damage has already been done.
do you think OIL NEWS KENYA will flip flop on their original article?
Seems like they reported early on third party information.
Management is still on a failing grade IMHO.
We are not far from ZERO.....and a bump like today means nothing after a 1 for 100 reverse split and then another deluge of CD's on the market.
I'm still hanging in here as my choice to sell is not worth the pittance I would retrieve.
GLTA here ( not out of the woods with ERHC )
Maybe they have sold everything off already for a while lol ...but not the company.
How would we know...LOL
oh ya we would probably hear it from Oil News Kenya.
Lets sell off and move on with our whopping tax write offs.
I guess we could sell individually and buy some coffee!
I would rather see PN and SO out on their duffs and off the dole ...then take my write off.
I don't know ....and neither do any of us. I'm not happy that I bought more earlier too are you? It isn't worth much is it. I bet PN and SYL O probably took a gamble as we did (on the drill bit)....but we didn't use convertibles to pay for our stocks as that's how their salaries get paid now. The Till is at it's lowest value.....not much buying from the note holders. I get the feeling Management has those cluster migraines where they need to go to sleep in a dark and quiet room while hoping it gets better.
Julius
It doesn't matter how many drillable structures are there...only what matters is 1- can ERHC make it to another drill.
2- do these structures contain oil in positive quantities to move forward on any of them.
Also, PN and SYL O have over 2 and 1/2 billion convertible notes to fire sale off to keep their salaries flowing. They don't care if the the share holders buy stock anymore as the note holders are making money as they buy at a discount and sell at a higher price (they are the buyers now assisting PN and SYL O as far as salaries are concerned ...then wash rinse and repeat. What a deal!
Nothing else needs to matter to them until all is lost. They are setting up their shell companies for that event to eventually happen.
All MO
thank god?
If there is such an energy force ....it is spinning at random...just look at the shape of the world.
Too many atrocities have been purported against humanity either in the name of God ...or some would think at God's will. (a merciful God?...Hmm). Don't forget every bible written were from human hands ... Books of legends. ALL MO
Baz
Julius
don't take this as offensive, but, the same thing happened with SNP in the JDZ....I think you went through that. We didn't hear anything from SNP or ERHC about the drilling results for quite a while , even after we heard crap from the oil Minister for Sao Tome as far as oil quantities that were expected from pre drilling studies. The results were non commercial and the wells were not for re entry. They haven't drilled again on those Blocks since then. We have similar quietness from ERHC and Cepsa with 3rd party reports of a dry hole and plug and abandonment from our drilling on Block 11A. I think the idea is to keep all info quiet so they can abuse their shareholders with convertible notes while not explaining anything to US. Now somehow you think this is positive.
I was a shareholder in Taipan and they released information on their semi-dry drill non commercial well and moved on, but at least they showed respect to their shareholders instead of using silence to gain time to dilute US into oblivion.
Dry holes happen,but, information should not be kept from shareholders over and over again, while convertible notes are paying Management's salaries while having no concern for shareholders. Mentally I have moved on to other investments,but I still hold my shares as they are not worth selling...as my huge tax write off will not make much difference if I sell now all for $800.00.
Good luck here....but I don't see what you do, with this investment anymore.
Manuel (Baz)
not many comments last time this was posted
manuel06 Monday, 06/13/16 11:42:44 AM
Re: jsc52033 post# 316474
Post #
316475
of 318125 Go
http://erhc.com/presentations/
slide 21....the plan is for sale after successful results this year.
we shall see.
ERHC
NO BRAINER?
Yup...by plan after being hired during JDZ information suppresion (which you complained about) and after a dry well in Kenya(which you are chatting about). They aren't oil people and are in charge of a pseudo oil company:one that only needs knowledge of the legal system and loopholes,and one that has knowledge of how money works and travels and all the loop holes. (Conversion notes anyone)?
JMO
To emdyal and Middy:
Regarding ERHC
IMO
PN and Syl O are not fools.they are highly educated and Syl has worked for large companies and PN is a Lawyer and writer........LOL.
Seriously they both know what is right and wrong..and the legalities. I don't think saying they are not capable to run this company(even though I agree for lack of oil experience),such as it is.....just a basket of assets
with no real tangible value to be seen. PN and SYL are capable to run shell companies that rely on real oil companies to do the work of oil.
All the F-ups that have occurred under those two are part of "their" oil game.
If the company actually did get in the oil game by chance of drilling,then that would be gravy,well beyond a steady pay. I believe they know exactly what they are doing and it stinks.
what value I have left isn't worth selling ...sound familiar?
AND lets not forget about blaming Management for what they have done to this stock.....perpetrated fraud-like behavior, without any consideration of its shareholders etc. no need for a summary, as we have heard it all here ad nauseam.
Baz
SMB heating up
Vancouver, British Columbia / TheNewswire / August 24, 2016 - Simba Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (Frankfurt: GDA) (CQX: SMBZF) and Essel Group Middle East (“EGME”) are pleased to provide the following operational updates on the development of Block 2A in Wajir, Kenya.
2D Seismic Survey
Simba Energy Inc. and EGME advise that work is well underway on the 2D seismic survey of Block 2A in Kenya. The testing will cover an area of approximately 535km and roughly 400km has already been cleared in preparation for shooting which is underway as well. Survey production has been completed on over half of the testing area.
The survey is being carried out by AGS Oilfield Services Ltd and it will identify and evaluate areas with hydrocarbon potential in Block 2A. The two specific aims for the seismic survey are to pinpoint the optimum locations for drilling and to estimate depths and volumes for primary and secondary drilling targets.
Rig Acquisition
In addition to this news, Simba Energy’s partner, EGME advises it has entered into a definitive agreement to acquire a new skid mounted drilling rig.
The AC-VFD drilling rig possesses power of 2,000 HP (1,470kW) and it will be used by the Company during its exploration activity on Block 2A.
Essel Group also announces that DNV GL, the world-leading classification society and risk management Company, has been appointed as a third party observer to oversee the purchase and the delivery of the drilling rig.
Mr. Gagan Goel, Chairman of Simba Energy and Managing Director of EGME, said “The work on the seismic survey and the acquisition of a drilling rig is further evidence of the progress being made in developing our portfolio of oil and gas assets. The testing is ongoing and we remain extremely confident in the prospects for Block 2A. We look forward to working with DNV GL on bringing the rig into operation. ”
http://www.stockhouse.com/news/press-releases/2016/08/24/operational-update-block-2a-kenya-2d-seismic-survey-update-and-acquisition-of#pYQLiCpTtSX3gFMb.99
thanks Midtier
no not found in ERHC/CEPSA documents
Midtier
what do you make of this in regards to what information ERHC can release?
Cheers
Manny
VIII. Venture Information – Confidentiality – Intellectual Property.
Each Party will be entitled to receive all Venture Information related to operations in which such Party is a participant. “Venture Information” means any information and results developed or acquired as a result of joint operations and shall be joint property. The Parties agree that all information in relation with joint operations shall be considered confidential and shall be kept confidential, and shall not be disclosed during the term of the Contract and for a period of three (3) years afterwards to any person or entity not a Party to the JOA, except conventional disclosures as provided by the AIPN Model Form. All intellectual property rights in the Venture Information shall be joint property.
https://www.sec.gov/Archives/edgar/data/799235/000114036114020872/ex10_1.htm
http://www.rmmlf.org/Istanbul/3-Confidentiality-Agreement-Model-Form.pdf