On early 2006, ERHC entered into production sharing contract for JDZ Blocks 2,3 and 4: On March 14, 2006, ERHC entered into a production sharing contract with Addax Petroleum, several oil and gas companies, and the Joint Development Authority (JDA) to conduct petroleum operations in Block 4 of the JDZ. On the same day, ERHC entered into a production sharing contract with Addax, several oil and gas companies and the JDA to conduct petroleum operations in Block 3 of the JDZ. On March 15, 2006, ERHC entered into a production sharing contract with Sinopec, Addax, several oil and gas companies and the JDA to conduct petroleum operations in Block 2 of the JDZ. Entering into production sharing contracts represented an important step in ERHC's goal of commercializing the Company’s interests in the JDZ and increasing shareholder value. The Companies' interests in the JDZ blocks represent the cornerstone for ERHC’s future growth strategy.
According to ERHC’s consortium partners, Addax Petroleum and Sinopec Corporation, previously disclosed plans to bring the deepwater drill ship Aban Abraham to the JDZ in 2008 remain on track. Addax and Sinopec have announced that they have five firm well slots in Blocks 2 and 4 of the JDZ and anticipate drilling as early as the third quarter of 2008.
-------------------- who says you cant trade stocks at 17!!?
IP: Logged |
posted
they own land which is undiscovered and could hold LOTS of oil!! Alot of big companies such as Addex also own land!! ERHE should begin drilling sometime towards the end of the year/early next year. Also no one no nos how much oil this area contains but some big company started drilling and have yet to release their findings?
-------------------- who says you cant trade stocks at 17!!?
IP: Logged |
Very nice video totally agree, get in after the pullback! Im selling tomorrow for a nice profit . . hopefully!!!!!!! and getting more shares after a pull back
-------------------- who says you cant trade stocks at 17!!?
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Were Up]](graemlins/wereup.gif)
