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hi strategyone
AOI is in a position with the cash on hand and market cap being only aprox 35% higher, that when a correction happens(might be starting now), then IT will be at a faster pace to recovery here. 1 year from now can make a huge difference going forward, but with ERHC well, most (including me) had/have received cruel treatment, as an experience!
Yes Tamtam.
But I missed the original run to $10.00. Kicked myself as AOI was on my radar years back. I am sorry for the drop in SP for longtimers as I am with ERHC, but ecstatic to be in AOI at under 2 bucks.
Good luck TT
baz
nice move today....keep it going!
Gotta hit 1 good one out of, SMB, AOI, WZR, (ERHE still holding but expectations are now low).
Right now I believe this stock has the best upshot,short and middle term.
JMO
Baz
lol...describes my last 14 years here. AOI now seems a good spot for a toe dip. Some development news to come out wed.or thurs. is the talk.
Manuel
Very good JCA
I would think that any oil company worth it's salt would know of Essel and their contract with SIMBA, but, with our Group of BOZO's, maybe every shareholder should send them info on IDEAS as they seem very short on deals that are /were available when CEPSA came prowling around ( ABU DHABI GROUP very Foxy).
Good on you
Manuel from the PEG..Mb.
here here!
SIMBA's Management made a fantastic deal......one that ERHC's keystone cops couldn't negotiate. Seems ERHC's Management and BOD are all still stuck in their Volkswagon Beatle at their own Circus.
jcanada
I would be okay with that rather than CEPSA,as the ESSEL GROUP have treated SIMBA fairly in their deal. 60% of SIMBA's total portfolio and full free carry on all fronts.I am heavy in SIMBA as they have what seems to be a partner that isn't in wait to screw them.
EZMONEY36
go back to Oil news Kenya, at the bottom hit page 2 there you will find the article - june 17 2016
http://www.oilnewskenya.com/top-news/?page_id_all=2
Cheers
EZMONEY36
go back to Oil news Kenya, at the bottom hit page 2 there you will find the article -june 17 2016
http://www.oilnewskenya.com/top-news/?page_id_all=2
Cheers
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
which we know is a BAD SOURCE
The Cheptuket-1 well in Block 12A, Northern Kenya, has encountered good oil shows, seen in cuttings and rotary sidewall cores, across a large interval of over 700 metres. Cheptuket-1 is the first well to test the Kerio Valley Basin and was drilled by the PR Marriott Rig-46 to a final depth of 3,083 metres.
The objective of the well was to establish a working petroleum system and test a structural closure in the south-western part of the basin. The strong oil shows encountered in Cheptuket-1 indicates the presence of an active petroleum system with significant oil generation and represents the most significant well result to date in Kenya outside the South Lokichar basin. Post-well analysis is in progress ahead of defining the future exploration program in the basin.
http://www.africaoilcorp.com/s/current-activities.asp
I agree tryoty.
too much noise wasted on this trade good or bad.
" the line is drawn the curse it is cast"
good curse or bad curse, we shall see.
http://erhc.com/presentations/
slide 21....the plan is for sale after successful results this year.
we shall see.
It's been a long road, but we might get the break the shareholders need.
tryoty.....best I could do
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 3, 2013) - Africa Oil Corp. (News - Market indicators)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to announce excellent results from its recent drilling operations in Kenya and Ethiopia.
The testing program at the Ngamia-1 oil discovery on Block 10BB in Kenya has now been successfully completed. The cumulative flow rate from six Drill Stem Tests ("DST's") was over 3200 barrels of oil per day ("BOPD") constrained by completion techniques and surface equipment. With optimized completion techniques and surface equipment it is estimated that these combined flow rates would increase to a rate of 5400 BOPD. Five of the DSTs were completed over the Auwerwer sandstones to verify reservoir quality and fluid content which appear to be of similar quality to those tested at the Twiga South-1 well in the same basin. High quality waxy sweet crude (25-35 degrees API) was flowed from all five zones in the Auwerwer formation with good quality reservoir sands encountered. All zones produced dry oil with no water produced and no pressure depletion. One DST was completed on the Lower Lokhone with successful results as previously announced on April 15, 2013.
In addition to proving the good quality reservoir, as a result of testing several previously indeterminate zones in the well, the joint venture has been able to double the firm net oil pay estimate in the Ngamia well to over 200 meters over a gross oil column of over 1,100 meters and has increased the net pay at Twiga to over 75 meters. The Operator, Tullow Oil, has reported that they believe the Ngamia and Twiga fields contain over 250 million barrels of recoverable oil. Appraisal work, including the acquisition of 3D seismic and the drilling of appraisal wells on both discoveries, will be undertaken over the next year to confirm these estimates. A mid-year revision to the Company's third party resource report is ongoing and is expected to be issued in the third quarter and will take into account these improved reservoir thickness and quality parameters.
The Weatherford 804 rig used to test this well is currently being mobilized 13 kilometers north to the Ekales location, a prospect similar to and located between the Twiga and Ngamia discoveries, which is expected to spud in late July.
http://www.24hgold.com/english/news-company-gold-silver-ngamia-well-flows-at-over-3200-bopd-and-doubles-net-pay-new-major-oil-discovery-at-etuko-and-confirm.aspx?articleid=905314
thanks Kingpind...that narrows it down
bmu....2nd quarter 2017 is planned for drilling
Forward Plans
The shallow basalts in the basin however have made the processing of the seismic extremely difficult and made identification of the basement and internal geometries of the sediment infill almost impossible to map.
As such the Joint Venture successfully negotiated an extension to the First Additional Exploration Period with the Government of Kenya which allows a comprehensive reprocessing sequence of the seismic data to be accompanied by a Full Tensor Gravity Survey (FTG) over the basin (see below). The latter will help firm up structural leads mapped from the reprocessed data such that viable drilling targets can be identified. The early reprocessing (as indicated on line 109 below) suggests that there is a Neogene basin at least 4,000m deep and of the same age as the prolific Lokichar basin (Early to Mid-Miocene). The commitment well is expected to be drilled in 2nd Quarter 2017.
http://www.swala-energy.com/assets-kenya-block12b.php
Midtieroil
Can you name me a few companies as minute as ERHC that, is/was involved in drilling 5 wells in 6 years. No excuses just some names would suffice.
Cheers...TIA
P.S. at the time of the 45 million, they only had offshore rights,now, how far does that go in offshore drilling. They spent money to diversify into onshore acreages where money goes 100's/1000's times farther. You know better than most ,so we hear, what finances are needed to explore for oil. 45 million is nowhere close to to become an oil exploration let alone production company. Now here is the Kicker
You as well as any other shareholder could have sold at any time they wanted.
Manuel06
thanks O PaPa O
trying for more info came up with
Yannick Peyruseigt
night pusher
Pau Area, FranceOil & Energy
Current
Smp kenya, SMP
Previous
Experience
Night pusher
Smp kenya
January 2016 – Present (5 months)
Drilling
yes jsc52033
I was in TGA with Yemenoil etal.....I bought for 66 cents and sold for 11.50 or so.....that was 1 of my few winners....helped pay for divorce. that was a good board....my nick used to be bazilfawlty.
cheers
Few can predict this market's upside these days except that most normal reactions in recent years gone by will be suppressed in today's Global economy. Too many (downer) extraneous circumstances are pressuring markets downward globally. Go ahead take a stab at a prediction... IMO... better to wait and see but be ready for change in sentiment IF/WHEN that happens.
Cheers!
Thanks Strategyone
I can't see anyone liking the 1/100 split,so even some of the loudest supporters IMO still feel a bitter taste after being gutted by management who obviously are way out of their league. I went from several million shares and an ACB of 1.3 cents to now many thousands with an ACB of $1.30.
BUT this was my choice and I will take what comes and time will tell.I might try to get my ACB down, but, I would need to see some positives besides another roll of the dice.
cheers
PM ??....did you mean Peter Ntephe?......the SEC documents have those numbers. But, IMO PN is a Nigerian so what his country will allow, he will take advantage of. So who knows what his real holdings might be. This might be true of many corrupt countries where the rules are bent for some who are affluent by their country's standards.
A company should not be looking at it's minority shareholders for bail outs. Having a plan that doesn't mooch off shareholders on 1 hand and from the other NOT hurting the same shareholders because they have no other plans. Take a good look at SIMBA energy, they were in the same boat as ERHC but have landed Essel from India who have acquired through negotiations, 60% of Simba's whole and Vast Portfolio and a total carry on everything. This is what smart management does when times are lean...NOT Rape their shareholders and reduce their percentages of their holdings. Simba holds 30% of all their existing portfolio with virtually no financial risk going forward.
this is what reputable management does.
I don't want to sound like the 3 Amigos from the ERHC board but..Shareholders should not be blamed for managements inadequacies. I also bought in triple Zeros but that doesn't change managements blame and that should not be put on the backs of shareholders'. Simba has placed 2 Essel big guns on the management team....maybe that's what ERHC is afraid of... sharing their golden goose paychecks or getting ousted by better management.
I agree
some are looking forward to that long journey ahead .....even if some don't own any shares of ERHC.
Dec 15, 2015 (article starts off with Dec 15, 2016(lol)
This whole presentation is about working up for a sell out. That goal is presented a few times out of 26 slides. So, if we look to that approach, are you going to be happy with: 1- the price per share upon closing the sale and, 2- the amount of shares you presently have.
It's worth a look if you haven't seen this one.
Cheers
http://erhc.com/presentations/
IMO the way things have gone in China with their energy companies has been lots of bankruptcies and severe financial scale backs. Several Chinese CEOs of large and national companies have been axed for either bad performance or corruption with the latter seemingly more prevalent. It was voted on as I owned AXC. Shareholders will want to see some value to buying out a company that seemingly so far, just have prospective acreages.I guess it helped SNP establish that AXC was a good investment as to the 140,000 b/d production and 540 million barrels reserves. 8.2 Billion Canadian....$52.00 + per share.China was buying companies with oil fields mostly and production.I guess what I am trying to say IMO is that some will not be okay with 1 good well and the company sold for pennies on their dollars, and after a 1/100 split. I am hoping for the best possible outcome with this well and some solid value to build onto, till we emerge as something worth some market excitement on the up trend and the share price catapulted up.
Addax owned 140,000 B/d and 540 million of reserves and sold for 8.27 Billion Canadian back then. If your scenario has legs then ERHC will be around for several years to prove up reserves, to rise up enough in value, for US shareholders to make a nice gain on. That's okay with me if we shareholders are making money. We really need this well to be successful.
I'm Glad we are drilling and have a chance for success. De-risking our block would be huge.
http://www.reuters.com/article/us-addax-sinopec-idUSTRE55N59I20090625
Not sure if this has been posted
Why all eyes are on CEPSA’s Tarach-1 well in Kenya
Although this is the first well in the block many players in the sector in Kenya are watching the outcome with a more positive expectation more than any other such well in recent history.
http://ow.ly/4n6lQ0
https://investorshub.advfn.com/boards/post_new.aspx?board_id=6347
Manuel06
I too think SEO will increase his shares and voting advantage. If there is something to get excited about he will capitalize as he was expecting to earlier on.
That 92 mil. shares of SEO, equates to 920 thousand shares post split and 2.63 % of an assumed 35,000,000 post spit shares. It was noted SEO holds now 14% of existing shares equaling approx. 4,900,000 Shares. If this is right , SEO went from approx. 43% to approx. 14% ownership in ERHC. Is this going forward a problem or an advantage to us shareholders?
cheers! or Boos?
$24.96 a share....time will tell
LOL..when a normal ERHC shareholder buys now..it's DELUSION insurance but when ERHC Management buys now it's DILUTION insurance. I guess it's easier to smear the shareholders to affect a result rather than management,as they are immune to the smear campaign, and they are not the sheep that need tending here. Good luck with you not buying DELUSION or DILUTION insurance,and having almost no shares left. Or were you foolish enough to buy and just call it a buying opportunity.
Cheers
It's all Bogus.....any claim of significant oil attached to even a portion the JDZ is false. Block 4 "the prize" , the DuD.
should be 6 years instead of 10 sorry.
It read like the first part was Nigeria EEZ, and then the 1 billion oil and 1 trillion Gas was reported from the JDZ...no worries very Bogus.
The 25% to 27% ERHC will officially have after events come to pass,is important as with a sale , numbers would be based on lets say on 27% and not 13.50%. So we are assuming oil is found in commercial quantities to peruse these %'s. IF that were the case then we have derisked the Block and have valid information on well results,which would add value to the Block @ 27% rather than 13.50%.........IF IF we survive.
Cheers
I think they were talking about numbers in Block 4 JDZ which had 3 holes drilled...maybe you missed that 6 years ago....a totally bogus article as only biogenic methane gas was found. I think you were around then, why the forgetfulness about no holes being drilled in Block 4 JDZ when there were 3 drilled to no avail.
Funny that!
Wouldn't somebody somewhere be interested in 1 billion barrels of oil and 1 trillion cu.ft. of natural gas? Must be lots of major and Mid tier companies along with independents that have Aquaphobia. It took 4 years to drill the JDZ and with all that resource in only 1 block so far,Conoil has seen this stalled for 10 years now and are boasting about it?
This is a ridiculous part of that article, that had no proper intel. seemingly, to start with......GEESH!
You don't see CEPSA arguing with those numbers ,or Tullow, so I guess they can turn a tidy profit even with those %numbers.Yes this Oil environment is way different than a few years ago,but, Oil has seemingly hit it's low already and is inching upwards again. When China and India's economies improve as well as Isil is nulified(might be another year or so),IMO, oil will be back at a much higher price than now. Realistically speaking we don't know when that will be....but Oil is looking to be headed back up.If we are still alive we will have aprox. 20 to 25%(unless we farm out more),I have included Kenya's 10% back in after commercialisation is achieved. So we still have a chance to succeed. Game over?----Game on!
Cheers
hopefully when we are producing.