Replies to post #280403 on ERHC Energy Inc (ERHE)

[kingpindg]

Interesting find farrell. Thanks.

[farrell90]

CNOOC later abandoned the blocks. CEPSA and Lundin complained about being shut out. Lundin later sold its Kenya and Ethopian blocks to Africa oil.

http://www.petroleumafrica.com/european-companies-snubbed-in-kenya/

"So far, the only commitment CNOOC has made is to drill one well in 2009 on the Lamu basin.

Industry observers say that Kenya may be missing major opportunities, pointing out that oil and gas exploration is a very price-sensitive affair.
Industry players have expressed support for the recent decision by the government to stop CNOOC from offering to farm out its rights to the Spanish-based company, Cepsa.

Under the current circumstances, Nairobi is likely to reconsider having to deal with Cepsa and Lundin of Sweden.

Kenyan is now insisting that the Chinese must either conclude a
Production Sharing Agreement or relinquish the acreage back to the government.
Clearly, Kenya will have to re-evaluate the deal....

Link is...http://allafrica.com/stories/200705290874.htm

and the update is the Chinese have now relinquished 4 blocks as of this month.

The China National Offshore Oil Corp. (CNOOC) has said it has pulled out of four of the six exploration blocks in Kenya. CNOOC took control of 28% of the total exploration acreage in Kenya in April 2006 when Chinese President Hu Jintao flew to Kenya to meet President Mwai Kibaki and conclude a deal for CNOOC to prospect for oil in the country. The Chinese firm had been looking to farm out some of the exploration blocks it was given for free by the Kenyan government last year, which led to severe criticism; SK Corp. of South Korea and Taiwan's CPC Corp. both reviewed the oil blocks, but no agreement was reached.
Significance: CNOOC will now concentrate its efforts on Blocks L2 and 9, with Ministry of Energy Permanent Secretary Patrick Nyoike saying that Blocks 1, 10A, L3, and L4 in the Lamu, Anza, and Mandera basins will be surrendered and awarded to other companies. Cepsa, a Spanish oil company, and Lundin, a Swedish exploration and production firm, have both previously complained about being shut out of Kenya's upstream sector. CNOOC did not seem to be in any rush to start prospecting for hydrocarbons while the Kenyan government is keen on an aggressive exploration programme, especially as neighbouring country Uganda is set to become an oil producer in 2009."

[oil-cowboy]

Interesting. Now.... How much is it worth to them to finally get a piece if the action??

Well see

[Southern Man]

If this turns out to be TRUE and it sounds very possible! Our shares should skyrocket and the Xmas options are game on!+++++

THANKS FOR SHARING MROMO

Amazing wealth of information from JImbo and Farrell to name a few.
Great job guys! Dam the JDZ "titanic" and full speed ahead to Kenyan Gold!!

[arnim-v-b]

and CNOOC failed..,,CNOOC was in L2, which they are also surrendering. My best bet is they don't have expertise for oil exploration,' he told Reuters. 'They believe the consortium by Tullow and Africa Oil is better suited for this.,,'

Source: Reuters

bests Arnim

...after the time past now and with the latest big finds ....i would say the blamed themself