Replies to post #214741 on ERHC Energy Inc (ERHE)

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Petrobras has a 16% working interest in the AKPO next door.

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Any ideas what this might be?

Galp Discusses Agreement With Petrobras, Sonangol, Diario Says
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By Joao Lima

May 18 (Bloomberg) -- Galp Energia SGPS SA is discussing an agreement with Petroleo Brasileiro SA of Brazil and Angola’s Sonangol SA about the development of joint businesses, Diario Economico reported, without saying how it obtained the information.

The agreement may be signed tomorrow, the Portuguese newspaper said.

Lisbon-based Galp is Portugal’s biggest oil company.

Last Updated: May 18, 2010 01:59 EDT
http://www.bloomberg.com/apps/news?sid=asEBvYkGZnuk&pid=20601087

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Angola's Sonangol interested in oil exploitation in Sao Tome and Principe


[2010-02-26]
Source: Macauhub

Luanda, Angola, 26 Feb - Sonangol is interested in exploiting oil reserves in Sao Tome and Principe if the operation is "attractive", the president of Angola's state-held oil company stated on Thursday in Luanda.

Manuel Vicente said the most likely format for Sonangol's entrance in Sao Tome and Principe would be a joint investment by oil companies from the Community of Portuguese Language Countries (CPLP).

The first auction of blocs in Sao Tome's economic exclusion zone (EEZ) is scheduled for 2 March in London.

Besides the Angolan enterprise, the consortium would be open to Petrobras of Brazil and Galp Energia of Portugal, as well as Sao Tome and Principe's national oil company, Vicente said.

"Nothing is definite yet - talks have concerned a common investment approach in the CPLP context with Sonangol, Petrobras, Galp and Sao Tome's oil company," he specified.

However, a source from the Brazilian oil company recently said it would not take part in the public oil exploration tender to be launched by the Sao Tome and Principe government in March, but offered no further explanations.

Vicente emphasized that Sonangol has long been present in various sectors in Sao Tome to justify its interest in taking part in all oil-related businesses in that island country.

"We've been in Sao Tome for many years. There are close ties, we have a business presence, a leading position, and we're not only in petroleum. In 2009 we signed an agreement to control the duty-free zone and operate the airport," he said.

Regarding oil matters, the work of Songangol "has been more to advise the government regarding organization of its legal framework in the oil area and definition of a strategy more in line with reality from the oil exploration standpoint," the company's president said.

He stressed that "we are interested in being present in bidding for blocs in Sao Tome".
http://z82l179.static.ctm.net/worldwide_partner_detail.php?tid=14310&type_id=1369


Oddly enough...at the end of February Petrobras was not interested in the public bidding for EEZ blocks. Now Kingpins article indicates they are vying for blocks.

Oddly enough....at the end of February Petrobras was in talks for taking part in a Lusophone consortium. Now Kingpins article does not list them...but instead lists ERHC.


How could Petrobras join the consortium....AND....get EEZ interests without partaking in the public auction??

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São Tomé and Príncipe regulations: New oil laws approved


Last Updated: 29 Oct 09
FROM THE ECONOMIST INTELLIGENCE UNIT

Under the new law an oil company can request direct negotiations with the government for any block that is not awarded in a public tender. Details of these negotiations must be made public and a period of 15 days given for other companies to express interest. If competitors do express interest, a fresh public tender must be held, but otherwise negotiations may begin. The new law also authorises the government to create a consortium with the national oil companies of other countries and through this to acquire stakes of 10-15% in blocks in the Nigeria-São Tomé and Príncipe Joint Development Zone and the EEZ. This should enable the government to pursue its long-held goal of creating a lusophone oil consortium, comprising São Tomé's yet to be created national oil company, Angola's Sonangol, Brazil's Petrobrás and Portugal's GALP Energia to explore for oil in the EEZ. On October 13th the prime minister, Joaquim Rafael Branco, visited the Angolan capital, Luanda, for talks about establishing a formal partnership with Sonangol in oil exploration.
http://www.zawya.com/printstory.cfm?storyid=EIU20091101235706296&l=151500091029


There's that blasted Petrobras listed again as part of the Lusophone consortium. Somebody better tell em about Kingpins article that shows ERHC instead of Petrobras as the team "in" the consortium.

Direct negotiations. Hmmmm....hide the JDZ results so your favored lusophone consortium is pretty much the sole interest in the EEZ?? Or maybe, this is how Petrobras enters the EEZ without partaking in the public auction?