Posted by: markgovols Date: Tuesday, February 23, 2010 5:04:51 PM
In reply to: None Post # of 200474
Here ya go:
From Source (A) who’s company was a contractor on the rig. They had assisted in the analysis of the data and he said that from what he saw the amount of oil and condensate was very encouraging. He was unable to discuss volumetrics but would be “gobsmacked if block 4 didn’t produce large amounts of liquids for many years”.
Also hearing from Source (B) JDZ SOURCE via his relationships in STP that STP was so keen to have Sinopec involved in the EEZ that they moved faster than they’ve ever done to make sure ERHC got the picks they wanted in the EEZ and confirmed the picks immediately. I noted Sinopec isn’t involved in the EEZ – yet. This suggests there was a coordinated effort to pick the right blocks in the EEZ by ERHC/Sinopec. In addition, ERHC has never been a favorite of STP, so the fact that the blocks were chosen and confirmed so easily points to the involvement of Sinopec. It was pointed out to me over and over that this single action (STP – ERHE Approval of Block Selections) paved the way for Sinopec to move forward in purchasing ERHE.
From Source (C) Someone very close Offor that a deal with Sinopec has been in the works for a long time. We’ve all heard any such deal was pending final analysis of the JDZ drill results. It would also seem reasonable that any deal would be contingent on the successful picking and confirmation of EEZ blocks (see above). My friend says; “Offor knows the value of having the full analysis of the JDZ drills and also in having all the EEZ blocks picked. He’s not going to sell out before knowing exactly what he’s selling.”
From 3 separate sources – the buyout price looks to be $3-$4 and again this is all happening soon because much is known (JDZ RESULTS TO BE ANNOUNCED) about what ERHE has in the JDZ and the fact ERHE now has their EEZ rights confirmed and Blocks selected.
I have received confirmation about things heating up in EEZ – JDZ from a few of my journalist sources (Platts, Dow Jones, etc…). I am sharing information with these journalist sources and should be getting some nice information in return.
More updates as soon as I get them.
Stay Tuned. Long Time Coming.
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