Replies to post #181248 on ERHC Energy Inc (ERHE)

[YankeMike]

Great post spp119!! Thank you for your continuing due diligence!

I am very comfortable with somewhere in the $5 to $9 range per barrel for proven undeveloped deepwater oil reserves. To be conservative, I usually use $5 in my calculations.

It would be interesting to see what that figure would be in 3 years IF oil was in the $125 range. I'm not sure if it's a linear correlation. For example, at $125 oil, would proven undeveloped reserves be worth around $15 per barrel? This could come into play if we are still around for EEZ drilling.

Mike

[walldog0]

spp119...a single FPSO, at AKPO, handles 44 wells...
185,000 barrels per day and stores up to 2 MMbbl of stabilized liquid hydrocarbons. This single FSPO handles the entire field.

Akpo field onstream ahead of schedule

http://www.offshore-mag.com/index/article-display/355587/s-articles/s-offshore/s-production/s-africa/s-akpo-field-onstream-ahead-of-schedule.html#

Published: Mar 9, 2009
Offshore staff

PARIS -- Total Upstream Nigeria (TUPNI) has started production from the Akpo deepwater development ahead of the planned start-up date. The field has proved and probable reserves estimated at 620 MMbbl of condensate (around 50° API), and more than 1 tcf of gas.

The ramp up of production to 175,000 b/d of condensate and 320 MMcf/d gas plateau is expected to be reached during summer 2009.

The field, discovered in 2000, is located 200 km (124 mi) from the Nigerian coastline in water depth ranging from 1,200 to 1,400 m (3,937 to 4,593 ft).

The field development requires 44 wells (22 producers, 20 water injectors, and two gas injectors), out of which 22 have already been drilled. The subsea infrastructure, transporting the hydrocarbon effluents, consists of 110 km (68 mi) of high pressure-high temperature subsea flowlines connected by steel catenary riser (SCR) pipe sections to an FPSO. The vessel, which is maintained on location by 12 anchor lines, houses the surface treatment facilities and is designed to process 185,000 b/d and store up to 2 MMbbl of stabilized liquid hydrocarbons. Those in turn are exported through a single point mooring oil terminal.



In order to optimize gas utilization, Akpo has been designed as a hybrid development capable of handling up to 530 MMcf/d of high pressure gas out of which 185 will be re-injected into the reservoir to maximize hydrocarbon recovery, and 320 will be exported by pipeline. This will enable additional supply to the domestic market and to the NLNG gas liquefaction plant, the company says.

03/09/2009

[RUBY1100]

heard some NICE Chatter today

both 2+4 are now done and both look "very good",
apparantly DP Rig is now moving on to BL 3

info on the RIG has been "extremely" tight as we have discussed

appears our JDA Source and Spp's source may have been Modest

Lets hope for more confirmation - that's all I got

now we just need the PPS to respond accordingly

[Tapco1]

SPP119 - Following your lead the attached document gives an overview of the development process in place for the Jubilee Field offshore Ghana. Their may be similarities with JDZ exploration and production issues. Of particular interest is an overview of the unionization agreement initiated because of the overlap of Jubilee into 2 blocks. Could the same thing happen in JDZ Blocks 1 and Block 2, we shall see. I was also impressed by the detail of the plan that also deals with social considerations when dealing with such a large project. It would be great if we could find the complete project plan. Could be a nice model to parallel with the issues the JDZ operators, hopefully, will be faced with.


http://www.erm.com/Global/Ad_Hoc_Sites/Tullow_Jubilee/Update8.10/Jubilee%20Field%20Draft%20EIA%20Chapter%201_5%20Aug%2009.pdf?epslanguage=en


More info on the development project for the Jubilee field.

http://www.gnpcghana.com/_upload/general/gnpc%20jf%20gas%20concept_for%20potential%20partners.pdf


JMHO

Tap

[Tapco1]

Spp119 - There are estimates that Iraq has 300 Billion Bbls of Oil undiscovered as of 2003. Makes you wonder why we went into Iraq. Looks like there are many more 1.5 Billion Barrel elephants. Was Irag influenced by the US to close out China for the next major block bidding? Will we ever know.

http://www.brookings.edu/papers/2003/0512globalenvironment_luft.aspx

JMHO

Tap

[redinvest]

Spp119, I also am very appreciative of your contributions over here and agree that bickering amongst certain posters has no legitimate place or venue on this thread.

Yes, after all, we are drilling or have drilled two holes, that, up to this moment ( most agree ) seem to be quite successful. One in a thousand bulletin board stocks crack the male deer, and from what I can reason, ERHC is about to do just that. Even if our results only equate the NSAI conservative numbers, our valuation will be IMO the three dollar range, which is, incidentally, quite a distance from one dollar.

So, what's not to like ?? No dry holes, no dusters, instead the likelihood of we, as investors and part owners of ERHC Energy, owning hundreds of millions of barrels of high quality, low sulphur hydrocarbons that are a straight shot to the Statue of Liberty, without dangerous straits and terrorists flying around like gnats.

Personally, with some patience, I believe most of us will still be kicking around when we'll be able to positively state our ownership of a company that jumped every hurdle, dodged every rabbit hole, and prevailed against unbeliable odds to come as far as we have, and control over a billion barrels of oil. JMO.

Salute !!

Red