Readers should remember that neither the JDA press release of May 45or the ERHC release the same day said with certainty when the awards would occur (emphasis added):
3. After exhaustive deliberations, the JMC has in line with the prescribed Treaty provision, forwarded its recommendations to the Heads of States for endorsement.
4. As soon as it is obtained the results of the rounds will be announced.
ERHC Energy's press release said that "the JDA expects" it will be signed next week. But the JDA did not say it expects that, at least in the May 4 release. Here is the relevant part of Friday's ERHC Energy release (emphasis added):
As soon as this is done, the JDA will announce the results of the 2004 Licensing Round. The JDA expects that this will take place before the end of next week.
Homeport's Comment said he found the story on the Lusa site, but we could not find it in the English-language section.*
His explanation:
Just for clarification, Joe, I have access to Lusa on-line. My post is my synthesis of their Portuguese-language story. The quotes are my translation.
It sounds like a situation that could lead to more months-long delays of the long-delayed awards. However, de Menezes called the controversy over alleged irregularities "fables created to generate confusion in people´s heads," which they have certainly done. The comment may mean that he's already got the "unanimity" he says is needed for an agreement.
The story quotes the President directly, indicating it is the final word in a slow-moving drama that extended well over a year from June 2003 to October 2004. Unless the story is completely wrong, there seems to be no prospect any longer of awards next week, given the fractious and internecine nature of Sao Tome politics:
STP President Fradique de Menezes removed his chief of staff, Mateus Meira Rita, an ERHC shareholder, from the islands' Nat'l Petroleum Council Friday for "conflict of interests", the Portuguese Lusa new agency reported ex-Sao Tome.
Rita, a former foreign minister, keeps his top post in the president's office. According to news reporters, as re[ported here earlier, he had once before resigned from the President's cabinet. We are not sure when he rejoined.
De Menezes announced the removal from the petrol council at an afternoon news conference, Lusa reported late Friday night.
Questioned on another presidential aide, the internal affairs adviser, the president said the official's company had participated in the bidding for awards but had "not been favored." In other words, someone besides Mateus Maria Rita has a conflict of interest, but the issue was moot because his company has not won anything in the awards.
De Menezes denied media reports of irregularities in the awards process, saying they were nothing more than "fables created to generate confusion in people´s heads."
"Nothing has yet been decided", Lusa quoted the president as saying.
He explained that decisions on the awarding of exploration blocks are taken in STP in unanimous partnership with the country's oil institutions: the Nat'l Petroleum Council, the Nat'l Petroleum Agency, and the islands´ members on the JDA.
Update: Here is the original story from which Homeport translated the piece above:
06/05/2005 - 16h52
São Tomé e Príncipe: PR anunciou afastamento de membro do conselho de petróleo
São Tomé, 06 Mai (Lusa) - O Presidente de São Tomé e Príncipe decidiu hoje afastar um dos representantes do conselho nacional de petróleo, Mateus Rita, director de gabinete presidencial por incompatibilidade de funções, no âmbito do processo de adjudicação de blocos petrolíferos.
O afastamento de Mateus Meira Rita, que continua a exercer as funções de director de gabinete de Fradique de Menezes, foi tornada publica esta tarde pelo chefe de Estado são- tomense numa conferência de imprensa relativa ao processo que visa adjudicação de blocos de petróleo de uma zona de exploração conjunta com a Nigéria.
A decisão de Fradique de Menezes de afastar Meira Rita no processo petrolífero surge na sequência de alegadas irregularidades saída da última reunião do conselho ministerial de petróleo entre governantes dos dois países.
Meira Rita foi um dos representantes de São Tomé e Príncipe nesta reunião.
A denúncia de irregularidade foi tornada pública há uma semana pela a RDP-África que noticiou o favoritismo, no âmbito do processo de adjudicação de blocos, de empresas onde alguns dirigentes são accionistas, em detrimento de petrolíferas que teriam apresentada melhores propostas.
Em conferência de imprensa esta tarde no palácio presidencial, Fradique de Menezes confirmou incompatibilidade de função por parte de Meira Rita, um dos accionistas de uma das empresas seleccionadas para a celebração do contrato de exploração de um dos blocos em leilão.
Segundo, Fradique de Menezes, Meira Rita, ex-ministro dos Negócios Estrangeiros, tem uma participação na petrolífera nigeriana Enveromital Remediation Holding Cooperation (ERHC), potencial candidata à exploração dos blocos em leilão.
Questionado sobre um dos seus conselheiros também envolvido em leilão de blocos petrolífero, Fradique de Menezes confirmou o caso, mas afastou qualquer incompatibilidade.
"Ele não foi favorecido. A sua empresa participou no leilão e a sua proposta foi considerada", salientou Fradique de Menezes a respeito de um conselheiro presidencial para assuntos externos, mas que também é um dos dirigente de uma empresa qualificada em leilão de blocos.
O Presidente são-tomense negou a existência de qualquer irregularidade no processo que visa a adjudicação de blocos de petróleo, tendo sublinhado que "ainda não se decidiu nada".
Fradique de Menezes explicou ainda que as decisões para a adjudicação de blocos são tomadas por unanimidade em parceria com as instâncias petrolíferas do país: o conselho nacional de petróleo, a agência nacional de petróleo e a parte são-tomense pertencente a autoridade conjunta de exploração São Tomé e Príncipe - Nigéria.
Para Fradique de Menezes a denúncia de irregularidades não passa de "uma fábula para criar confusão nas cabeças de pessoas".
Assinado em 2001, o tratado de exploração conjunta de petróleo entre São Tomé e Príncipe e a Nigéria estabelece 60 por cento para os nigerianos e 40 para o arquipélago.
Fradique de Menezes defendeu também que a fraca percentagem de São Tomé na distribuição das receitas tem estado a dificultar benefício de grandes vantagens para o arquipélago.
"Estamos a pagar as consequências dos acordos assinados em 1997 e 2001 com os nigerianos", sublinhou Fradique de Menezes.
RCN.
Imagine how mad the readers of this column from "The Business" in London were when awards did not materialize "last week" as the write said they would:
Sao Tome carves up Atlantic oil riches
by Richard Orange
May 1, 2005 12:00 AM (GMT)
THE impoverished island nation of Sao Tome and Principe in the Atlantic will this week take a crucial step towards potential oil riches. It will announce which firms have won rights to explore and develop five offshore blocks in its development zone, shared with Nigeria, in time for a visit to that country on May 4 by the islands' president, Fradique de Menezes.
The US Energy Information Administration predicts the firms could find 11bn barrels of oil reserves in the zone, oil production potentially reaching 3m barrels of oil per day (bpd) within thee years.
Wade Cherwayko, chief executive of Aim-listed Equator Exploration, which expects to win a share in a stake in one block in partnership with India's ONGC, told The Business: "I think it could be a new Brunei."
Sao Tome's 40% stake in any oil revenues, if fairly shared between its tiny 187,000 population, could transform to the former Portuguese colony's economy. It is presently based around fishing, subsistence farming and declining cocoa exports.
The award had been delayed for months as US oil giant Exxon Mobil decided whether to exercise its right to take a 25% stake in any two out of the five blocks. It decided last month not to do so because it could not win the right to lead the exploration work. Nigerian and Sao Tome officials were over the weekend finishing discussions over the exact shares of different companies in the blocks.
Jon Bearman at Africa consultants Clearwater, reported on Saturday that USindependents were favourites, with Devon Energy and Pioneer Natural Resources tipped for Block 2, Noble tipped for Block 4 and Anadarko for Block 3. Block five went to Iranian firms, while Block 6 has gone to a Nigerian independent oil firm with links to China's Sinopec.
Cherwayko, who raised $60m for Equator on Aim in December, was courting the Sao Tome leadership five years ago - well before interest in the country's waters was sparked by the agreement with Nigeria over the joint development zone.
The company has exclusive rights to shoot and sell seismic surveys on Sao Tome's exclusive economic zone (the waters not shared with Nigeria), will itself advise Sao Tome on how to divide the waters into exploration blocks, and will then have the rights to 100% stakes in two of those blocks.
Equator has close links to Patrice Trovoada, son of former Sao Tome President Miguel Trovoada and the country's energy adviser.
* We later found the Homeport story in the original Portuguese and posted it below his translation; the story supports every word of Homeport's translation. Three paragraphs on the history of the JDA were omitted from the end of the translation.
72 comments:
Is Reuters also carrying the story, Joe? I got it directly from Lusa.
Cheers,
"Had not been favored"
Can it be interpreted as "not given a partial/biased/prejudiced favor," that is, the decision was impartial and fair?
I do have a password for the Lusa site, and it was not there, Homeport.
I think "had not been favored" means had not won a block, as ERHE did. He's talking about one of the Nigerian indies there.
Just for clarification, Joe, I have access to Lusa on-line. My post is my synthesis of their Portuguese-language story. The quotes are my translation.
As to Traderstrade's query, I think the "not favored" refers to the 2nd, unnamed aide´s company, which apparently had no success in the awards process. But I'm not sure and don't want to speculate.
Exiting for rest of day, but look forward to reading other inputs later.
Ciao,
a new story has been added to your fiction collection. its about time you stop Embarrassing your self with these unfounded stories. please joe, a lusa story based on a story from the Portuguese news agency Lusa that is not on its Website, which Homeport says is not updated on weekends. with all due respect, this is a longshot, what can we expect to read from you next? de Menezes Abducted by Aliens. lets just keep it clean.
oilsor.
OK, had not been favored is an interpretation of Portuguese original. Let's not try to re-interprete it :-)
Gentelmen,
I also have access to Lusa online - there is no such story as claimed by Homeport at this moment (and new stories are updated also in the weekend). However Fradique de Menezes did supposedly address the people of Sao Tome (on radio??) at 16.00 local time yesterday (see news from www.lusa.pt below - and translation).
São Tomé: PR fala ao país sobre processo de adjudicação
de blocos
petrolíferos
São Tomé, 06 Mai (Lusa) - O Presidente de São Tomé e
Príncipe,
Fradique de Menezes, faz hoje uma comunicação ao país sobre o
processo de adjudicação de blocos petrolíferos numa zona de
exploração conjunta com Nigéria, informou um porta-voz da
presidência.
Além das questões relativas à adjudicação de meia dezena
de blocos
de petróleo da referida zona, a comunicação do Chefe de Estado
são-
tomense visa esclarecer a denúncia de alegadas irregularidades
feita
na última reunião do conselho ministerial de exploração
conjunta,
realizada em Abuja, acrescentou a mesma fonte.
A alegada irregularidade na adjudicação de blocos de petróleo
foi
divulgada em São Tomé através da RDP-África, dando conta
de
existência de favoritismo por desqualificação de empresas com
melhores propostas a favor de petrolíferas, das quais são
accionistas alguns dirigentes são-tomenses, envolvendo nomes de
figuras próximas do Presidente Fradique de Menezes.
Uma comissão parlamentar são-tomense especializada em assuntos
petrolíferos recomendou quarta-feira o governo a não tomar
qualquer
decisão de adjudicação na base das propostas saídas da
última
reunião ministerial, alegando existência de erros lesivos aos
interesses do arquipélago.
Assinado em Fevereiro de 2001, o tratado de exploração conjunta de
petróleo entre São Tomé e Príncipe e a Nigéria,
estabelece 60 por
cento para os nigerianos e restantes 40 para o arquipélago.
A comunicação de Fradique de Menezes, que também exerce as
funções
de presidente da Comissão Nacional de Petróleo, está
prevista para
as 16:00 (17:00 em Lisboa).
RCN.
Lusa/Fim
- - - - - - - - - - - - - - -
Translated by Alta Vista:
Sao Tomé: PR speaks to the country on process of adjudication of
petroliferous blocks Sao Tomé,
06 Mai (Lusa) – the President of Sao Tomé and Príncipe,
Fradique de
Menezes, today make a communication to the country on the process of
adjudication of petroliferous blocks in a zone of joint exploration
with Nigéria, informed a spokesman of the presidency. Beyond the
relative questions to the adjudication of half set of ten of blocks
of oil of the related zone, the communication of the Head of State
Sao -tomense aims at to clarify the denunciation of alleged
irregularities made in the last meeting of the ministerial advice of
joint exploration, carried through in Abuja, added the same source.
The alleged irregularity in the adjudication of oil blocks was
divulged in Sao Tomé through RDP-Africa, giving account of
existence
of favoritism for disqualification of companies with better
proposals in favor of petroliferous, of which is shareholders some
controllers Sao-tomenses, involving names of figures next to
President Fradique de Menezes. A legislative committee Sao -tomense
specialized in petroliferous subjects recommended to Wednesday the
government not to take any decision of adjudication in the base of
the proposals exits of the last ministerial meeting, alleging
existence of harmful errors to the interests of the archipelago.
Signed in February of 2001, the treated one to joint exploration of
oil enters Sao Tomé and Príncipe and the Nigéria,
establishes 60
percent for the Nigerians and remains 40 for the archipelago. The
communication of Fradique de Menezes, that also exerts the functions
of president of the National Commission of Oil, is foreseen for the
16:00 (17:00 in Lisbon).
RCN. Lusa/Fim
Joe...STOP printing lies,...just suck it up and buy back in.
That about 4 bad stories in a row for you.
You lost on your daytrades this time,it happens to everyone.
Awards monday...and you lose bigtime!
What is the matter with you people? The stories that had been printed from Lusa have been correct up unitl this point.
There has been political turmoil in Sao Tome over these awards. The Menas article specifically shows that and verifies most of what has been posted on this blog.
So to those of you crying over that situation dont blame Joe. Its not his fault. Although I do take issue with him saying awards are months away.
No one knows if the prime minister will sign off on the awards quickly or not. That is what we are waiting for right now.
soon Joe very soon!!!!!!! Your ficticious postings and readers are passé!!!!! The few who click on your sight 10 times a day to see what stupidity has been added is to have fun for you!!!!!!!! We get a laugh talking about you.......
Walldog, your incessant whining is getting real old. The Menas article substatiates just about everything that was said on this blog.
If you cant handle the truth then sell your shares and buy something else. This is a complicated process and there are going to be twists and turns. Thats just the way it is.
You should be mad at Sao Tome for having so many hurdles to clear before they sign off. It should have just been the JDA, JMC, and then Menenez. Not the oil ministry, the prime minister and every other government beuracracy. This could take forever to get them all on the same page.
Having said all that I think we get awards next week.
One other thing walldog. You whined about Exxon day after day after day. Now they are out of the process and we still have had delays. How comical. You were completely wrong.
Stop being such a big baby every time things dont go your way.
And P.S. why are you crying to Rancho? "Joe has had 4 negative stories on there in a row WAAAAHHHHH!!! WAHHHHHHHH!!.
Take the pacifier out of your mouth and change your diapers and have a little Gerbers. And then realize the stories Joe posted have been correct.
Its Joe's commentary beside the stories and his headlines that ted to be off the mark. Not the story itself.
Walldog having said all of that I dont blame you for venting. You are sick and tired of waiting and so am I. This has taken far too long.
Well then comment on the Mennas article.
Was that make believe also?
AWARDS THURSDAY....
This is Homeport's sister,and I'm sleeping with one of the editors of LUSA.The story won't be printed until wednesday,but I've got the inside track, trust me on this one.I saw the guy write the story,and helped him proof read it.
Its Joe's commentary beside the stories and his headlines that tend to be off the mark. Not the story itself.
I will agree on that, the story is , very possible, but it has no real news in regard to awards, and it has not been confirmed by others than Homeport. so i find it very Questionable that joe rush to dramatic conclutions, please remember that its in the interest of all parties to get the awards done as soon as possible, and i doubt they will send the Decision back to the jda at this point.
Oilsor
See you had to come up with a childish response because you wont answer my question. You make the longs look like fools. So let me ask you again.
Was the Mennas article make believe also?
You are absolutely correcy Oilsor. Joe does jump to "dramatic" conclusions. And that is what kills his credibility. He does it time and time again.
Such as stating a few days ago that the Pioneer CEO said they won 2 blocks. He said nothing of the sort.
So Joe even though I have defended the stories printed on your blog I cant defend you on these other issues.
You need to tone down your rhetoric. And your idea about writing the White House to complain about block awards had to be the most assinine thing I have ever heard in my life.
So just stop it. And stop your ridiculous commentary that is so wildy innacurate.
But keep posting those articles.
LMAO
***AWARDS THURSDAY***
Homeport's sister,again!can I get a big headline,like my brother did,Joe?
I've even got the stained dress to prove what I say is true,if anyone can do DNA stuff.
Why does Homeport get all the attention,I'm the one doing all the "under cover work"
Guys it basically comes downto one guy right now. The Prime Minister of Sao Tome. Where is he now? When is he going to sign? Is he going to sign?
Those are the important questions right now. Not Joe Shea. Last time I checked Joe Shea isnt the Prime Minister of Sao Tome.
He is more like the Prime Minister of Hype and Controversy so he can get you to read his blog.
LMAO
Hey Larry from RB. Did your momma ever teach you how to read? If so.
How can yo claim the last 4 stories from Joe's Blog have been inaccurate? Please cite specific examples.
The Mennas article substantiates everything that was said in the prior 4 articles. And Joe was the last to post the Mennas article. It was posted on I-hub, EF, and RB first.
The so called "longs" on RB right now have to be the biggest collection of idiots I have seen in my life.
They rip the stories from the blog continuously but wont cite specific examples and wont comment on the Mennas article which substantiated everything that was said in the prior 4 articles.
Guys, ERHC this week said they EXPECT AWARDS this week coming !!!
in 5 years ERHC has NEVER Committed to Dates !!!!
so why have they now ????
a] Mark called JDA said its done
Press Conference coming uo
b] Swing posted source claims Menezes has signed off [probably dismissing his cabinet member]
c] ERHC PRs awards next week
Seems clear on resolution
The longs on RB right now do more damage to the stock than good. The reason?
Because they refuse to give a balanced account of what is going on. If they perceive any story as being even somewhat negative then they act as if it is "make believe" or propoganda.
You should have enough confidence in your investment where you dont feel the need to walk around with blinders on. It makes the stock look like a bulletin board stock when you only post good information and rip those that post potentially bad information.
A stock board has much more credibility when it has balanced commentary. ERHE is a great stock that can stad on its own two feet.
We dont need people hiding or dissing information just becaused they see it as being somewhat negative.
Walldog read the post right above this one and get a clue.
You make ERHE look like amateur hour. We want the stock to look more like a NYSE traded company where there is intelligent coversation both good and bad. All articles should be welcome provided they are not made up.
Have enough confidence in your investment to want to take it all of the information. Not just the information that meshes with your agenda.
HOW MANY SHARES HAVE YOU FLIPED AFTER YOU PRINR YOUR LIES. YOU USE TO PRINT HOW MANY SHARES YOU HAD. HOW MANY DO YOU HAVE LEFT AFTER YOUR FLIPPING
I'm anonymous...who is walldog?
last week it was stated that awards process was "flawed" by the participation of an associate of ERHC and Cabinet-level advisor to the President of Sao Tome, Mateus Meira Rita, and today we heard a "roumor" that Mr. Rita was removed from the National Petroleum Council, Knowing the bids from ERHE and Anadarko its seems clear that the ERHE bid is Superior, and should be approved by any Constellation in the Petroleum Council, thereby restoreing the creditability of both Mr. Rita and Menezes, . its called politics.
cheers
Oilsor
Dear Anonymous;
Get yourself a name, please.
traderdrades,
I have a feeling you agree with my position. People like walldog make this stock look very amateurish.
Lets stick to the facts whether they be positive or negative and that will lend much more credibility to the situation.
All Walldog can do is resort to name calling. He never answers any questions or posts anything of substance.
I am an ERHE long.
One other thing to Ruby. Dont count your chickens before they hatch. Until the Oil Minister signs on it is not a "done deal".
I agree it looks very promising but it is not yet complete.
Joe,
Don't mind the you posting the story, but IMO you should always give 'links' to stories you post. If you want others to believe what is written, having a quote from 'Homeport' (not saying the article is true or not just unverified by an 'anonymous' poster) with the cavet that 'more months-long delays' (how did you come to this conclusion?), seems a little over the top
To me it looks like de Menezes appeased his critics and offered his statement "which denied media reports of irregularities in the awards process, saying they were nothing more than 'fables created to generate confusion in people´s heads.'
I'm with the JDA, ERHE, et al that awards will happen next week.
Dear Mr. Homeport,
Post the link of the article you posted, please.
Dear Anonymouses,
Please get yourselves names.
tradertrades,
Why do I need a name? is it because you are so impressed with the fluidity to which I write?
I know I am a genius. I dont need any additional accolades. My breakdown of everyone's posts are entirely accurate so let me sum up:
1) The articles which are posted on Joe's Blog are usually very good information. The headlines he uses to promote his blog and some of the conclusions he draws from the articles are total rubbish. He is trying to create controversy so more people click on his sight.
2) The longs that bash everything that comes from the blog (including articles) are nothing but a bunch of whiny babies who cant handle anything remotely negative about any given situation. They have been wrong time and time again regarding deadlines and yet act like a bunch of know it alls.
3) The RB board sometimes looks like amateur hour because people like walldog do nothing but call others names and doesnt have enough confidence in his investment accumen to handle both positive and negative news.
4) The bashers on RB, Mongo, and Momkey have higher IQ's than most of the longs. But they are not to be trusted. They have ulterior motives IMO.
5) ERHE will end up doing very well in the end. It has alot going for it. Much more than people even realize. That is why there is no need to pump the stock and ignore anything that is remotely negative.
Anonymous #31, I agree with you.
Anonymous #36, I think you are wrong.
BTW, journalism = sensationalism.
Joe,
What's up with the headline "Bad News..." Do you know what this does to the sp? I'm thinking you do as you resport #%$% like this every week and then report the sp falling by the minute. Are you trading this stock or simply bi-polar. If you're bi-polar, I'll half excuse your sorry #%@#. If you're trading, I hope they send you to a Federal Pound Me in the Ass with a Broomstick Daily Prison!!
Joe, I said it once, I'll say it again. Your being used.
Just like the Raymond James info. You never check things out before you post it. If you had, you would have found that the information is bogus. Or at least the way you describe it.
Not sure why you do this, I think you very ill. I feel sorry for you. But in a way I don't, you bring this on yourself. Your sick.
So do all of the RB'ers think the Menssa article is incorrect?
If we get awards the stock price will go much higher than rfny just posted. Much more than 100%. Try 300% to 800%.
The bottom line in all this is people should only follow ERHE's PR's and the JDA's PR.
ERHE said the JDA expects awards by the end of next week.
So everything else is just BS.
To all who read this POS & RB, I know for a fact that Joe Shea takes information and then changes it to fit his means. He is a liar and a fraud.
BEWARE
Boycott the Blog..
First rancho...
Now your saying XOM is out of block1 ??? NWTF called them and they are drawing up plans to drill block 1. Use some of your skillful investigative knowledge and call them like NWTF did and they will tell you the same thing. Or are you and JoeBlog just trying to stir things up again? No need to reply I know the answer, same as its always been.
Lie 1. Jouster history
Lie 2. $6.00 buyout in March
Lie 3. Jeter interview
Lie 4. XOM out of block 1
Lie 5. Menendez comments from 2 weeks ago I won't go into.
Lie 6. Speaking Portugese
Lie 7. This recent event
Lie 8. He has never sold
Lie 9. Raymond James Acquires 6% Of ERHE
Lie 10. Getting Jeter on Paltalk to talk to us all
Lie 11. "Along with Pioneer Natural Resources' statement this morning that they expect to win two blocks in the Nigeria-Sao Tome and Principe Joint Development Zone, " not what they said
Lie 12. "But the radio report carried the story a step further, a fact not reported in the Lusa story ERHC On The Move translated earlier.
What was omitted from the Lusa piece Monday was the news that ERHC Energy was the focus of "difficulties" surrounding the award of Block 4 over stiff opposition from Anadarko. That omission may be meaningful in itself if it indicates that the whole thing is a tempest in a teapot."
Lie 13. Rancho20008, a sharp-eyed RB poster,.. proof their in bed together.
Lie 14. Awards Protest Mounted As Obasanjo Meets Bush Thursday; Gulf of Guinea On The Agenda Now, Chinese Say...thats is title to the story you try figure it out, I missed the protest completely apparently.
Lie 15. the PalTalk voice-video group ERHC On The Move is moribund, and we have had to cancel a planned interview with investor Phil Nugent. .. doubt he ever had an interbiew setup
Lie 16."there is the possibility that the ERHC chairman might have to sell ERHC Energy stock to avoid problems or shore up the bank's assets."
Actually this is as much time as I want to put into this, and his blog gets erased after a certain time but there are MANY other lies and manipulations this guy has attempted and accomplished many.
The alternative fuel deal,XOM being back in round 2, him saying we're going to $6.00 but he was going to sell in the .60's, the whole jouster thing had MANY crazy stories, not sure how many people still remember. He was a different basher before jouster as well but I forgot that alias.
Who Cares if Article is real or not By: hurricaneoffor
07 May 2005, 03:56 PM EDT
Msg. 37934 of 37939
(This msg. is a reply to 37930 by MoonSt.)
Jump to msg. #
. It says nothing to the effect that awards are delayed or anything. Menezes is covering his backside. Don't be stupid. Joe is twisting stuff around again so that people will come to his damn site and click on his adds. I know that you people can see this. GEEEEEEEEEZ. ERHE issued a PR stating that awards will be announced by end of this coming week. ERHE HAS NOTHING GAIN AND EVERTHING TO LOSE BY ISSUING THAT PR. Think how studpid they would look if awards were not issued this week. THEY KNOW THAT AWARDS WILL BE ANNOUNCED THIS WEEK FOLKS. DUH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! If ERHE had not been given 100% assurance by the JDA that awards would be announed this week they would NOT have mentioned this in the PR. They would just say that awards would be announced soon or whatever.
Looks like my interpretation was correct about "Had not been favored." It was about ERHE, not about other companies. Below I repeat my own interpretation:
-----------------
Can it be interpreted as "not given a partial/biased/prejudiced favor," that is, the decision was impartial and fair?
-----------------
BTW, Joe, no matter whether you posts facts or lies, the sensationalism, not only of yours but of other media as well, is a little bit too much for me to handle. I am heading for the mountains once the award comes.
What a nasty row!
I'm not particularly cyber literate and not really sure what "links," etc are. I'll post more Lusa material in future, if I spot anything of timely interest to fellow shareholders, so , please, take note of the links that have been mentioned here and on RB in today´s absurd madhouse.
G'nite,
YOU ARE NOT SURE WHAT LINKS ARE... AND YOU POSTED THAT ARTICLE MR. Homeport.... GIVE ME A BREAK!!!! JOE U BETTER GET A HOLD OF THIS !!! TALK ABOUT A BOYCOTT OR PROTEST GEE JOE ?????
Joe
When you go to prison I hope you get the biggest dick broken off in you you fat homo
Signed
your biggest fan
tradertrades
I hope you'll remember it's a felony to provide false information to a Federal agent or a Federal agency, and that in the past I got a presidential appointee's to the SEC withdrawn, and also won the US Supreme Court case Shea v Reno. I am certainly willing to sue anyone who defames or slanders me, and to advocate charging anyone who provides false information to the SEC about me.
To answer several question, though: 1) Ambasador Jeter said exactly what I said he said; if he is wrong, take it up with him. 2) I last traded ERHE for my account on Jan. 10 and Jan. 20, 2005, when I purchased 1,00 shares for $0.45 and 40 shares for $0.485, respectively ("canary" shares to weigh the value of my entire $94,000 investment). I continue to hold my 123,040 shares and have a profit of about $41,000 on them. 3) I was saying in November that I sensed a buyout in the works that would materialize in March for $6 a share.
I did so based on the unusual trading activity at that time. Ruby 1100 called me about it and I reaffirmed that that it was my opinion. What we learned, however, was that what I took for buyout activity was the transfer of 63,000,000 shares to First Atlantic Bank of Nigeria PLC, and the subsequent purchase by Emeka Offor of some 40,000,000 shares on the open market. 3) I have provided to Ruby 1100 the evidence I had regarding the purchase of 6 percent of the outstanding shares of ERHE by clients of Raymond James Financial, which does not make a market in ERHE shares, and which according to our information has suspended purchases of the shares because their clients had purchased a threshhold quantity (more than 6 percent, which would be about 42,000,000 shares) requiringf reporting to the SEC within 10 days. 4) The history of this stock is that tere are always more delays even when you think they are all done; it remains possible that everyone will sign over the next few days and make awards possible this coming week, but our experience with Sao Tome is that it is a large dysfunctional family where people fight ferociously over money, and that because President de Menezes told us "unanimity" - whether of agencies or votes within agencies, we don't know - is a prerequisite for moving ahead, to me that suggests a delay of at least weeks and more likely months. As I have told Ruby 1100 and another investor privately about 10 days ago, it is my personal belief that awards will not occur untul June or July. If any evidence to the contrary develops, I will report that instantly, but until then I will believe and write as I choose, based on facts, experience and nothing else. 5) You can bet that whoever is buying under the cover of separate accounts of Raymond James Financial, if our source is accurate, does not want you to know they are doing so, as their price will increase, and their ability to dump on the first sign of bad news will be inhibited by having to file with the SEC first and then file again to sell as insiders. I would be they are on the RB board, they do hate this information, and they will do a far more effective job of character defamation than any of you can to complete their grand design for this stock in secrecy. I have not seen RJF's books, and cannot vouch for this person's information, but I can tell you I believe it and believe it was worth reporting, even to the slimy ingrates who crap in their pants every time the price moves down a few cents.
They should not be here and should not be in this stock. Finally, while I am firm supporter of free speech, on my blog from this time forward no personal attacks and no four-letter profane words will be tolerated, even as they are not tolerated in my newspaper. So, those who have
defamed me in the posts above will have their posts removed tomorrow, and are asked to keep a civil tongue in their heads in the future.
Hey, you, yes, you anonymous chicken at 10:09PM, you are not really anonymous as you think, have you realized that yet?
BTW, why are stockhocker70 and hopeful_investor missing today?
Homeport, when you say "the quotes are my translation," do you mean they are your invention> I see no quotes at all in the original Portuguese piece that is posted above. Please respond here.
Good morning, fellow watchers of the "marvelous islands" - STP.
This would be unnecessary in a saner setting, but, given the war-like ERHC RB-Shea Blog environment, let me explain my participation here.
I'm Portuguese-fluent and have followed Lusophone (Portuguese world) affairs for many years out of personal and professional interest. I'd never invested in a "penny" stock before reading the Houston Chronical piece on ERHC in March, when I decided to add a little spice to my pre-existing interest in STP. That's also where I discovered your existence - both Blog and RB. I'd never before participated in a board/blog setting.
I have access to all the Portuguese LUSA news agency´s on-line service, not just the free access pages. Given the general lack of STP media coverage, I think it's clear that LUSA may be a prime source of info. And I will continue posting LUSA material which I think might be of interest to shareholders. So take note of the links, URLSs, etc that you may want for follow-up confirmation. I'm not into the technical side of cyber space.
For my part, I will always make it clear what the agency, or any other source I may use, has reported, as against what I may think of the report if I share an opinion, which I haven't so far.
I chose to post on Joe's Blog because, at first glance, it appeared to be a calmer scene than RB. And because it seemed simpler: I didn't have to "register".
I hope whatever input I may be able to add will be informative and helpful. I'm still a working man and have other interests so I don't spend much time on the Net. I'm not into two-way banter and don't plan to be. Enough about me.
Hoping this turns into a brilliant week for all Longs,
Bests,
Yes, Joe, the original piece on Lusa has several partial quotes, including the ones I used in translation. I don't know what copy you're looking at.
Have a good day!
Sorry, Homeport, I wonder if you would be good enough to translate the rest of the article, and especially the part where President De Menezes says, tellingly, I think, "We are going to pay the consequences of the agreements signed in 1997 and 2000 with the Nigerians." That is a positive if fatalistic statement, so far as ERHC is concerned. Thanks!
Just to lighten things up, here's a story from Nigeria's Sunday Independent:
Missing genitals cause uproar in Benin
Benson Agwu
Benin City
The re-emergence of stories of missing genitals in the ancient city of Benin is causing considerable uproar, as a middle-aged man (names withheld) attracted a crowd at the popular Ekiosa Market along Murtala Mohammed Way in the 3rd East Circular, Benin-City, when he alleged that his organ was missing.
This led the crowd to lead the man to the nearby Atlantic Hotel for a confirmation of the story through sexual experiment with a commercial sex worker.
The bizarre drama that started when two commercial motorcyclists (Okada) arrived at the market carrying a young man called Osunde, his mother and an old man said to be a native doctor.
Osunde’s mother was crying uncontrollably, with her son alleging that the old man had caused her son’s genitals to disappear mysteriously.
But the man who was said to be a witchdoctor seemed disconcerted.
Osunde, amidst hot tears, when the teeming crowd to step forward and have a practical feeling of his manhood which he claimed had disappeared, including the scrotum.
Osunde narrated that he suddenly found himself feeling uneasy when the witchdoctor sent him on an errand to buy cigarettes.
“I had kindly obliged the man, but immediately I left the witch, I began to experience a strange feeling between my thighs. I tried to get hold of my penis, but it was no longer there, it was found missing with my scrotum,” he bemoaned.
He said that immediately he reported to his mother, who then raised alarm and the suspect was apprehended.
After much pressure and threats, the man promised to remedy the situation.
When asked by the curious crowd on the true position of the story, the witchdoctor denied being responsible, but claimed that he had volunteered to help as a good neighbour because according to him, “I have the power to restore missing organs no matter who could have made them to disappear, being a native doctor of note.”
The man went further to narrate why he was suspected of having harmed the boy, alleging that sometime ago, he had a dispute with Osunde’s mother over a land; which was later resolved.
He stated that since the end of their misunderstanding, he had found it convenient to send the boy on errands, and that had apparently landed him in the present false accusation and public embarrassment.
On why he was dragged to the market place at Ekiosa, the witch doctor disclosed that they had come to that the young man would cross over to the nearby brothel, Atlantic Hotel, and test the penis on any of the prostitutes to ascertain its efficacy.
After his explanation, the witchdoctor burst into incantations, and in a jiffy ordered Osunde to check his penis.
Osunde complied and announced, to the bewilderment of the crowd, that his genitals had returned, but that it did not feel like his own any longer.
“One ere Oghommen; Oghe edionmwan no” (meaning that the genitals look like an old man’s own, in Bini language), he said, as the crowd burst into laughter in disbelief.
The next stage was to test the restored organ to see if it was in good condition as his mother insisted. The boy was then led to a nearby Atlantic Hotel.
This stock has the most bizarre group of longs I have ener seen in a BB stock. So much damage has been done by so many of you and yet you do not have a clue. Want a reality check of how things are handled in Africa - Rent "Hotel Rawanda" and then get a grip. Pull up your panties and wait for the awards to be announced. This investment is a crap shoot at best. It will either be a home run - or another sub-penny POS if these awards don't come. As Red Says - roll the dice - most of you are complete freaks! But your a hoot to watch. Don't want the drama or the stress? Tea bonds and Money Markets - you pussies!
And -last one out the door - holds my bags! LMAO!
I found this , i dont know if its been posted before. as i dont understand a word, ;) and it had no date either.
Parlamento conclui que há erros graves no processo petrolífero
Agudiza-se a polémica à volta da última reunião do conselho ministerial conjunto nigeriano- são-tomense. Depois de confrontar o ministro dos Recursos Naturais que presidiu a delegação nas negociações com a parte são-tomense na Autoridade Conjunta (JDA), o Parlamento concluiu estarem a haver erros graves de procedimento.
A comissão especializada da Assembleia Nacional para Assuntos do Petróleo reuniu as duas partes para clarificar alguns aspectos sobre como decorreram as negociações em Abuja, Nigéria, relativamente a adjudicação de blocos petrolíferos, uma vez que já ontem, os representantes do arquipélago na JDA, afirmaram perante os deputados que o país engajou-se nesta última reunião ao assinar um termo de compromisso.
Após três horas de confrontação, o Parlamento concluiu que ainda não há um acordo definitivo entre os dois países, mas que estão a haver erros graves de procedimento.
“É que tem havido erros graves de procedimento que de alguma forma afectam os interesses de São Tomé e Príncipe. Nós não estamos a dirigir este dossier com o rigor necessário para defender os nossos interesses”, afirmou Carlos Neves, Presidente da Comissão do Parlamento para Assuntos do Petróleo.
Uma das questões que mais preocupa o Parlamento é o facto de a empresa nigeriana ERHC possuir direitos de preferência sobre alguns blocos petrolíferos.
“Os blocos variam em termos de valor monetário, ao deixar a ERHC poder escolher os blocos sem que nós próprios conheçamos o valor dos blocos podemos ser afectados nessa escolha”, referiu Carlos Neves.
E porque existem pessoas que são sócias de companhias petrolíferas ao mesmo tempo que em nome do estado são-tomense negoceiam a adjudicação de blocos, contrariamente ao disposto na lei quadro das receitas do petróleo, o parlamento apela aos órgãos competentes para afastarem essas figuras das negociações.
Após ter ouvido todas as partes implicadas, o parlamento pediu um parecer técnico à Agência Nacional do Petróleo para saber se os interesses são-tomense estão ou não a ser lesados antes de tomar uma posição definita.
oilsor
here is the link to the above story.
http://www.cstome.net/diario/index.htm
oilsor
here is an auto translation. made on an online translation software.
Parliament I concluded that there are grave errors in the oil-producing trial
Agudiza-itself to polémica to the return of the last meeting of the ministerial advice Nigerian assembly- healthy-tomense. After it confront the minister of the Natural Resorts that presided the delegation in the negotiations with the breaks are-tomense in the Joint Authority (JDA), the Parliament concluded will be having grave errors of procedure.
The commission specialized of the Assembleia National for Matters of the Oil united the two part for clarify some aspects about as elapsed the negotiations in Abuja, Nigeria, relativamente to adjudicação of oil-producing blocks, since already yesterday, the representatives of the archipelago in the JDA, affirmed before the representatives that the country engajou-itself in this last meeting upon signing a term of commitment.
After three hours of confrontação, the Parliament concluded that still there is not a definite agreement between the two countries, but that are it have grave errors of procedure.
“It is that has had grave errors of procedure that of some forms affect the interests of Saint Tomé and Prince. We are not it drive this dossier with the necessary severity for defend our interests”, affirmed Carlos Snow, President of the Commission of the Parliament for Matters of the Oil.
One of the questions that more concerns the Parliament is the fact of the Nigerian company ERHC possess rights of preference about some oil-producing blocks.
“The blocks pierced in we will have worthy monetary, upon leaving to ERHC be able to choose the blocks without that we own we know the value of the blocks we be able to be afectados in that choice”, referred Carlos Snow.
And because persons exist that are partners of oil-producing companies at the same time that in name of the state are-tomense negoceiam to adjudicação of blocks, contraryly to the arranged one in the law chart of the prescriptions of the oil, the parliament appeals to the competent organs for will move away those figures of the negotiations.
After they to have heard all breaks them implicadas, the parliament asked a technical opinion to the National Agency of the Oil for know itself the interests are-tomense are not to be damaged before of take a position definita.
i might add that they will be damaged if they dont. ;) . it seems this news was out some time last week. imho.
oilsor
Joe as an ERHE long thank you for your information last week regarding the political turmoil in Sao Tome.
You were the first source to post this. And the Mennas article ended up confirming everything that was posted on your blog.
The obnoxious longs on RB are amazing to me in their denial. The fact of the matter is without the turmoil in Sao Tome awards would have been announced a week ago.
So obviously something happened. Thank you for not being blind to some of the facts like the longs on RB are.
Now we just wait for the Prime Minister to sign off. Hopefully he will soon.
Joe,
Stop over analizing everything you read and hear about ERHE. I sold off my stock last time you posted an error about the delays and what not. You appolgized later that day, but caused alot of problems for everyone. This time I am going to hold off on doing anything until the awards come. If you are so nervous about the events that arises from what you read, you should sell in the morning and close out your blog. Who made you such the expert? No news, is good news!!
I did apologize, but the delays materialized just as I said they would, and the price dropped to $0.50, just as I said it would. It took a little longer than I said it would. Awards still have not happened and today is May 7.
So I am not nervous about the events, as I am sure the awards will come in good time, but I can't say that for others. I have not sold a share in a year, and don't plan to. I like our management, our Board and our prospects in the GoG.
joe why dont you just shut up. fact is no one know when they will sign awards. it may as well be tomorrow . the way you try to stir up things it seems you have sold your shares. or suffer from a death wish. do you think we are retards buying your nonsens. get a life arsehole.
oilsor
Joe -- I'm amazed that you continue to put up with the idiotic, inane crap that your readers assault you with. These people are obviously not very intelligent (judging from their command [or lack of command]). The best they can do is a little name calling that makes them sound like they have the emotional maturity of a 10 year old. They’re probably hung like 10 year olds, too. Just a guess.
Personally, I think that your blog is a great service. You posted that LUSA article long before anyone on RB came across it. Sometimes you’re right, sometimes you’re wrong. Personally, I hope that you’re wrong about awards and that we get them next week.
Have you ever noticed how nobody ever gets angry at swingingk when his predictions are wrong? I’ve been reading the ERHE/C Ranging Bull board for over a year now, and I have *NEVER* seen one of swingingk’s predictions pan out. He’s always wrong. Always. It’s incredible. Yet people continue to happily gulp down his ranting because the RB audience only has a taste for news steeped in his particular flavor of Pollyanna feel-good news.
So much for reality. I just wanted to thank you for the service that you provide to ERHE investors. I don’t know why you continue to do it with all the crap people throw at you. I’d love to see you actually start filing lawsuits against these twits for defaming you. That would be righteous.
Cheers, buddy.
and only a 10 year old end hes post with CHEERS . or do you have a drinking problem. farkin nutcase!
Mr. Ken just posted an article on RB entitled "Sao Tome Sacks Oil Minister". Dated yesterday.
So are you longs going to attack him the way you have attacked Joe? Hell, Joe gave you all of this information yesterday and was absolutely crucified for it.
Now all of the sanctimonious longs are sitting around with their thumbs up their asses and are all of a sudden very quiet. The silence tonight is deafening. DUH!!!
Geez the longs on RB are actually being made to look like they were wrong again. What a surprise.
Hey Im long on ERHE also. But I cannot stand the whiny , snot nosed longs who are so insecure and pompous that they dont want to hear both sides of the issues. They only want to hear the good news.
Well I am confident enough in my investment decision to want to hear both the good and the bad.
So Joe thank you for providing us with the information regarding the turmoil in Sao Tome. It may not be a big deal but nevertheless I like to hear all news.
Walldog not to pick on you but you are a perfect example of what I was referring to in the above post.
Now you are saying to only believe what we hear from ERHE and the JDA?
So you dont believe the article that was just posted by Mr. Ken from REUTERS??
See how ridiculous you look now? If you had said "only believe what you hear from ERHE and the JDA" after some of Swinging K's posts or Markvol's then you would be showing more balance and would have more credibility.
But you only do it when an article doesnt fit your idea of "good news".
What a joke.
Walldog when you make a comment like that you really make it seem as if you are afraid of your investment.
Show more confident in your investment by being able to intelligently discuss both good and bad news.
All the longs that spent the whole weekend attacking Joe are nowhere to be found now.
They look like a bunch of idiots. And I am long this stock.
Walldog, btw, I like you personally. But just disagree with you on a few of your stances. But you just expalined you just clarified your position and I agree with what you said.
Why don't ya'll stop beating around the bush and tell Joe what you really think of him? Grow up folks
Post a Comment