Replies to post #288600 on ERHC Energy Inc (ERHE)

[Krombacher]

Good find...

if "sometime in 2014" is true, and they submitted in February, then that leaves 10 months tops after February.

When we consider that we are in July, or 5 months into the 10 month period, that gives a 50 percent chance that a decision has been made. August would be 60 percent chance. Sept would be a 70 percent chance and so on.

So maybe the decision has already been made since the odds are in our favor, but as usual in Africa whether it is the STP or Kenya or Chad, formalities such as dotting i's and crossing t's prevent ERHE from PRing that info until such time that the contracts are finalized.

But Ghana could certainly explain a modest rise in share price.

On the other hand, the reason ERHC has not PR'd it may be because they lost the deal...but you would think if that were true, Star Africa would PR that development as they seem to communicate every step of the way...opposite to ERHC's philosophy of PRing only when everything is formalized.

Just some thoughts...

Krombacher

[arnim-v-b]

nice ...thanks ...

[johnnieisrotten]

Further down in that same article we get another mention for having a position on the advisory board. That should be a good thing.
8.Oil and Gas Oil and Gas 86 7 a. Advisors (Non-Executives) Nii Adzei Akpor (Acting CEO) - Ghana Petroleum Commission Thomas Manu (Director of Operations) - Ghana National Petroleum Corporation (GNPC) James Akatse (Director of Operations) - Ghana Irrigation Development Authority (GIDA) Michael Adem (Director of Operations) - Millennium Development Authority (MiDA) Sylvan Odobulu (Vice President) - ERHC Energy Seth Nyenya (Executive VP) - Office of International Initiatives, Houston Inventors Association Marc Van Der Zwan (Managing Director) - Zwanny Limited Phil Davis (Director) - Offshore Energy UK Limited Richard Turnbull (Director) - Offshore Energy UK Limited Matthew Williams - LR Global Partners (Director of Global Relationship Development) Pa r t n e r s h i p s – L e ve r a g i n g wells

[DegenerateGambler]

It looks like ERHC may have another iron in the fire, Ghana. So let's all sit around the camp fire and go over the irons. Are any if these irons hot? Let's try to put WAG on how likely each iron is likely to become hot enough to be a branding iron.

1. Ghana - not much known, very little progress, so a real long shot - 200 to 1
2. JDZ - still in the mix as something is going on behind the scenes, September may finally reveal the drilling results in more details, new partners may replace the ones now dragging their feet. Still a long shot, maybe 50- 1.
3. EEZ - pcs signings looking good, but no surveys to provide enough information to give promise. Still a long shot 50-1
4. Chad - for the amount of time Chad has been in ERHC's pocket, not much has been disclosed. Need surveys to see if this will produce. Still a long shot, 25-1.
5. Kenya- real progress on determining if there is oil/gas. Positive PRs. But awaiting the survey results. This is ERHC's best shot at 3-1

Many of the irons are real long shots, but can't be overlooked as they possibilities. The real meat is Kenya and there is not denying that. But Kenya is still 3-1 and that is no guarantee.

Will I see you at the casino or the campfire?
DeGen
Ps: its nice to have many different para mutual tickets in the same horse race. It makes it easier to pick a winner.

[ERHClongtimer]

Nice update on Ghana, King.

Looks like ERHC and Star have been in the game since at least 2012:

Together with ERHC Energy from Houston, Star has begun the process of acquiring exploration rights for offshore acreage in Ghana. The companies have submitted an application to the Ministry of Energy, which is now pending a final decision from the parliament and the ministry. Star expects approval in early 2012 followed by exploration activities commencing in late 2012.

http://www.sea-enterprises.com/wp-content/uploads/2010/04/The-Oil-Gas-Year-The-Whos-Who-of-the-Global-Energy-Industry-Ghana-2012.pdf

I suppose the delay has worked to ERHC's advantage, allowing it to progressively develop its other holdings with the limited resources that it has.

With the benefit of hindsight, no one can accuse them (management) of not being busy in the last 3 or 4 years.

Here's a map of Ghana's oil blocks (which includes the Jubilee Field), for those who are interested:



I think the blocks with diagonal lines are those that are currently available. According to this article, Ghana does not bid out its blocks; instead they are negotiated on a case by case basis.