Replies to post #214604 on ERHC Energy Inc (ERHE)

[amj23]

cvx will not be fooled for an instant by these games. they made them. they are a huge partner to Total all over the world, would not suprise me if they dont just swap some properites. Since we have had mention of area-wide development, yes, even from erhc, amazing in and of itself to get a few words out of them.

although they are chinese, CNOOC is the partner in akpo with Total.

[umbra]

Many thanks for your reply 'EZMONEY36'. I just love your train of thought - so much more concise than 'Krombacher'...lol.

I too pray that TOTAL will successfully negotiate a position into Block 1 as it would logically portend further negotiations with SNP in /blocks 2, 3 and 4 and perhaps a faster track drilling schedule in these blocks. After having listened and read so many posts, I am of the opinion (not 100% but working on it)that the JDZ, or our portion of it, represents one gigantic resevoir basin with a huge number of areas within it to poke a pipe or two. Chevron must atleast suspect this might be true but finds no cost advantage in virtually going it alone in Block 1.

I was both shocked and pleased to learn that SEO's cost price per share was U.S. 41 cents (if true). I wonder why it was so high as I imagined he would have bought in at about U.S. .002 cents or in that vicinity. That would certainly raise his GAP price from what I feared it might end up being.

Obviously I was smitten with the last sentence of your last paragraph...please SNP/TOTAL and others...make it so.

Thank you again for your reply.

[Opus X]

Nice note there, EZMONEY36....just gave you a mark on that one.

I agree with your assessment. Low profile to at least until bloc one rights have been sold to Total and possibly even longer until the other minnows, including ERHE are harvested by Total or SNP.

It hurts on misinformation or with holding of all the information in regards to results...........but it does fit into a strategy for SNP and possibly Total.

Your "handle" obviously had nothing to do with your investment in ERHE, I take it?!?! :-)

GLTA,

Opus X

[razoroil]

EZ, Great post and I completely agree.


razor

[Homeport]

A very interesting view, EZMoney. Thanks for outlining it so well.

Bests,
HP

[umbra]

"Buyout development in the news"...link please. Perhaps I was away.

Thanks ever so.

[EZMONEY36]

Phase 2 when?
Re-read this news article at the bottom of this message.

I have to notice what is being said from:
"Luís Prazeres, the agency's director, told Lusa: “A lot of Gas was found, particularly in Block 2, and there is also oil. The discovery offers good prospects,” Prazeres said."

Think about that statement and now think about the current events?

Why was a 6 month extension asked for -- FOR ONLY BLOCK 2?

The same agency made a statement that they thought possibly Block 2 had the oil and block 1 had higher amount of gas vs oil . Chevron drilled off structure and after analyzing the fluids they new they had some oil and allot of gas in block1. Although Chevron played the blk1 find down they did commit to Phase 2.

Now the TOTAL picture why does Total want Block 1 ?

It has allot of gas with the oil as an added incentive. Our block two was also reported to have a huge amount of gas with the extra oil incentive and a fast track hookup with AKPO!

"Joint Development Zone (JDZ) has resulted in oil being found in the “expected” quantities and “a lot of gas” in one of the blocks, according to the Sao Tome National Oil Agency."

We must remember Block 2 was the only block that the extension was granted for and each block has to file for the extension separately. So far block 1 was the only block to ask for this.

Why?

“They said it was an expected quantity of oil in blocks 3 and 4."

If the oil was at expected quantity the phase 2 is a given and expected.

Why the delay in the phase 2 notification on the other blocks?

An extension was never granted for the other blocks and phase 2 of the other blocks should have been given to the JDA back in March.

So why the secrecy and down play?

I think the JDZ is fully aware that the other blocks phase 2 is defiantly going to happen and that is why they did not finish the process to grant the extensions. (Remember this violated the March deadline)

Now remember that there was a different news report (I think it was Bloomberg) that stated that the gas & oil finds in all the other blocks made block 1 worth 50% + more after discovery.

Do you think Sinopec would want to release the other blocks reserves right now with their strategic partner TOTAL dealing with Chevron over block 1?

NO NO NO NO NO NO!!!!!

The grant had to be given to block 2 due to this buyout of Chevron's %


WILL IT TAKE 4 MORE MONTHS FOR ALL THIS TO HAPPEN
NO NO NO ---- IT CAN HAPPEN AT ANY MOMENT!

Read what Olegario Tiny, Executive Director of the Joint Authority

Olegario Tiny, Executive Director of the Joint Authority for the Department of Petroleum Resources Olegario Tiny confirms that the joint authority has been informed about the negotiations. "These contacts have been reported to the Joint Authority through the very Chevron.
The Joint Authority believes that the agreement between the two companies could happen soon!"

The first announcement of the Total & BLK1 Buyout interest was first reported around March 1st and this article was written in April!

They have had many Months to complete this buyout and that is why I feel we could get News at any moment!

It is now towards the end of May and this final piece of our puzzle could almost be over. If it happens we will be on our way to commercializing the JDZ in connection with the Akpo field. Fast track to producing oil & gas!!!
Let them announce it today!
Good Luck
EZMONEY36

Macauhub [ 2009-12-15 ] http://www.macauhub.com.mo/en/news.php?ID=8610

Drilling in Sao Tome and Principe’s offshore area finds oil and gas

Lisbon, Portugal, 15 Dec – The first phase of drilling in the Sao Tome and Principe-Nigeria Joint Development Zone (JDZ) has resulted in oil being found in the “expected” quantities and “a lot of gas” in one of the blocks, according to the Sao Tome National Oil Agency.

Luís Prazeres, the agency's director, told Lusa that the results had been presented to the oil ministers of the two neighbouring countries by the JDZ and by the oil companies responsible, during the last meeting of the Joint Ministerial Council.

“Gas was found, particularly in Block 2, and there is also oil. (…) The discovery offers good prospects,” Prazeres said.

Field work in the JDZ, which was re-launched in the Summer, had been on hold since US company Chevron had drilled a single test well in 2006, in block 1.

The results are currently being interpreted and official information will be provided at the end of January, with a new phase of drilling scheduled for May, 2010, he said.

In the last few months a test well was drilled in block 2 (operated by China’s Sinopec), and one in block 3 and block 4 (operated by Addax).

“In block 2 some oil and a lot of gas was found. And there are hydrocarbons in the other blocks. Now the companies are analysing the data in a laboratory and may drill more test wells to confirm,” Prazeres said.

“They said it was an expected quantity [of oil in blocks 3 and 4]. Now they are carrying out more analyses to establish quantity. They did not mention if it was a lot or only a little. The companies are very conservative at this stage of the surveying and hold back information,” he said.

In 2006 traces of hydrocarbons were found in block 1, but had no guarantee of commercial viability.