LINK TO ERHE.OB 8-K
"Western Geco estimated between 6 and 14 Billion Barrels of oil recoverable in the 9 blocks in the Joint Development Zone between Nigeria and Sao Tome. With the majority of that falling in Blocks 1, 2, and 4.
Centurion (Cux.to) estimates 3 Billion Barrels of oil recoverable in block 4 alone. ERHC (erhe.ob) has 17.7% of that block plus a free carry.
Block 2 is estimated to contain 1 to 3 Billion Barrels of oil and ERHC (erhe.ob) will probably have about 20% of that block and a free carry.
I have not seen specific estimates of Block 3 but ERHC (erhe.ob) has 10% of that block and a free carry.
Not to mention ERHC (erhe.ob) will be recieving cash from its partners (Addax and Sinopec) for bringing them into these blocks. $45.9 million paid to ERHC (erhe.ob)for these three blocks.
Aside from ERHC's (erhe.ob) rights in these three blocks ERHC has rights in 8 other blocks. Including two 100% blocks in the STP EEZ that are signature bonus free.
So suffice to say ERHC (erhe.ob) has tremendous upside potential. Chevron should be announcing results from the OBO-1 well in Block 1 of the JDZ within a few weeks. OBO-1 is the first well to be drilled in the JDZ. That well will go a long way in showing whether Western Geco's seismic estimates were correct in the zone.
I would keep an eye on those well results and that will give much greater clarity to the potential in the other blocks." imho.
TTI was on my radar before HELX. I have large % of portfolio in CWPC. Up 100% on this one. I think TTI is great company, too. Just lacking in cash - could sell remaining GW to buy TTI ....
mitth pritth.........sounds like you are getting stoked for the game!
Don't get yourself in a dither! HA!
Down the road, I wouldn't be surprised to see HELX buy TTI..........think about THAT one!
Look at the CL price......@ 44/bbl !
Deepsub, the game doesn't start until 3:05 and I'm already chomping at the bit. Damn. Go DB's Go Conor Jackson. I don't know if I told you this, but Conor Jackson is the grandson of my very first boss at RDC. I worked for Rowan for about ten years in Houston.
Another note of interest, Conor's dad was the JAG on the television series. They all look alike and when I see Conor on that screen, he looks exactly like his grand-dad and dad. By the way, his grand-dad was very athletically inclined, even worked as a coach in Louisiana schools 'til he realized the pay wasn't that great. He persued, with great interest, a career in the oilfield where he became very well established and instrumental in getting safety a priority in the oilfields. He is truly a legend and I hold him very dear to my heart. I look at Conor and sometimes shed a tear for my friend, a happy tear filled with so much respect. He was like a second dad to me.
You really need to look at TTI as well. Strong with good fundamentals. I'm still weighing in on HELX. I'll probably get in tomorrow. More dd to do or is that more dodo to de? HaHa
Caught me red handed (Deep can speak for himself) I'm loooonnggggg and holding for this one(HELX). Interesting how this shape is used for name of new organization.
The love of HELX using REM to smooth out the soft spots on the way up makes this a long term hold for me.
BBBBAAAADDDDD TO THE BONE!!!
Good luck on the way up up up up up. WOW!
Don't know if you noticed this on your last post at the RDC board <you were sitting on your "perch" are you one of those spread-eagle birds?
HaHHHHAAAAAAAAAAAAHAAAAAAAA. Gotcha, dude.
HAHAHAHAAAAA!!! OK....before seeker can jump in here, I'll claim to be the Frick........leaving him the Frack.
I would prefer.....Heckle & Jeckle.......but I guess we are not into counting crows.........
Although their music is good......LOL
Deep and Wisdom:
George Thoroughgood (sp) one of my favorite songs. Believe it or not, my voice is deep enough I can sing that song and you wouldn't know it was not George. BBBBBBAAAAADDDDDD to the BONE.
Now where the freak is Jeaux. Hey, we got to find him. Deep, Arizona DB's are playing again this afternoon and I'll be on MBL.com listening to the game. I might not be checking Yahoo for a coupla hours.