badog
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Monday, July 11, 2011 3:54:45 PM
Re: midtieroil post# 242893
Post # of 242932
I saw a post...can't remember by who, that indicated that Akpo drilled 2 wells and estimated 200 million barrels of oil. I have not seen one quantitive number similiar to that coming from blocks 2-4...even cumulative. And what was the estimated amount of oil from Chevron in block 1? Didn't they put a number on that? Yet 'no oil' in blocks 2-4. I don't care how complicated these are...when someone says that no commercial quantities of oil were found it is reason for concern. And just because you do not think the results were that bad does not ease my concerns...especially since you don't know the results. You are just guessing that it is different than they say.
When you invested in ERHE I assume that you knew that they were amateurs in the oil business. You were not investing in their oil expertise...were you? So as you said, they hired NSAI to provide that expertise. They needed to know what they had. What should they have done?...hired one of Totals top guns...to analyze these highly complicated results...when the cost of hiring NSAI was probably much less?...and not an ongoing cost as an expensive employee would be. And it's likely that if ERHE had released the results from NSAI it could be a violation of their agreement with SNP. If that had happened there could have been actions by SNP that could have cost ERHE thier interests...or at least legal fees that could have burned a good portion of thier cash. Then you would be telling us all how stupid of a move that was.
You say that PN has no real clue of what he can and should do. Yet since you cannot see all that he is dealing with on all issues how can you second guess him? You do not have all the facts...and many of the facts may be ones that he cannot disclose...without consequences. How would you know?
So far I know that SNP came in and bailed us out when we were desperate for a partner/operator. They spend a tremendous amount of money while giving us a free ride. I don't know that SNP is playing ERHE? Do you know that? If you do then verify it. Personally I think that SNP found little in the JDZ and needs time to try to devise a plan B. In the mean time they have every right to keep the information close to the vest. And no...I can't verify what I think SNP is doing...and I can't verify what PN is doing...so I don't accuse them of doing us dirt. Find things that you can verify...and then go after them.
Badog
Sneak's response: Pat,Pat the "Good Doggie, Good Doggie" now Down boy Down before you get banned like me. Becareful, Barking at Mxxxx could get you in trouble, the I-snub dog catcher is watching!
Sneak
