The Upstream article was interesting.....but it didn't really provide us with much new information. We knew CNOOC was already looking at Addax based on the February Dow Jones news. Furthermore, an earlier drilling date has been talked about since the original Addax DP announcement was made.
Marks post of a pre-drilling deal shouldn't fall on deaf ears simply because the date was missed or that attention was drawn toward an earlier drill date.
Going back...Addax reported in March 07 they had a shot at a drill ship but didn't feel ready so they passed on it. They passed on another rig in the fall of last year....as THEY reported. That said, the board rumors of "just around the corner" were ahead of the curve......just not consumated by Addax.
There have been a few of us calling for a pre-drill deal for a long time. The company has set itself up for this to happen IMHO......and for those not wary enough to note that drilling in ERHC's blocks has not occured yet....they may want to take their fingers off the cut and paste buttons and actually read and try to comprehend that fact.
Since events are warming up in a very big way....the ERHC stock boards don't need alot of garbage posted.....as in talk about other posters agenda's.....posting up totally nonrelated JDZ/ERHC African news articles that create volumes of wasted time sifting through. I encourage (merely as a fellow ERHC shareholder and poster) sharing thoughts about ERHC related events and forward thinking.
SPP119 accurately pegged Addax's recent rise in SP. One of the major holdups in the Taq Taq field is the inability to export the produced oil. At present the oil can only be used/sold "in house" and it appears negotiations are leaning toward JCG's desires to be able to export. Wouldn't the Chinese love that ability......with extremly low production costs and by all accounts....they (Chinese) aren't intimidated with the polical risks like most oil producers. That'll make Addax just that much more attractive to the Chinese.
Why is Addax's price important to us? Refer back to Pops8x post on a $.65 cash and 10:1 share swap with Addax.
Sneak....here's one to ponder (out of the blue): You asked about Shell. Shell is getting the boot from Ogoni field. How about an Addax takeover of ERHC....followed by a trade with Shell: Shell (who's getting the Nigerian boot out of Ogoni) gets the deepwater and Addax gets Ogoni fields....(again, no more than a fleeting thought). Weren't the Chinese interested in the Ogoni fields? They CAN develop in the shallow.
DoubleAA....good to see you posting. Hopefully fellow posters will be listening loudly based on your multi decades experience in the oil/gas related industry. Keep the posts coming.
Sidewinder.....still watching....though other personal events have kept me busier than usual. Oilphants departure after over 3 years shouldn't go unnoticed regardless of what he was actually doing here. Hang on tite.
I continue to sit in the camp believing we'll see a deal pre-drilling. Buyin or buyout........and if drilling is, in fact, moving closer than announced (and I believe it is)....that would mean ERHC's deal could come any day between now before drilling.
The co has been very quiet. They've even fallen behind on their shareholder updates. More importantly, they moved the shareholder meeting from spring to fall. Why's that??? I have a hunch......
Next to Lastly: My thanks to those posters proving this board with what they hear and what they think. Mark, Ruby, Rambus, Fishdog...special thanks to your efforts.
Lastly: BOL for ERHC's 10Q. Its due.
BB
