Promise of oil sparks fights
May 30 2005 at 03:33PM
http://article.wn.com/link/WNATCC1A8FFB65054DF7232EC056746FB14C?source=templategenerator&template=nigeriadaily/index.txt
São Tomé -- The tiny West African island state of São Tomé and Príncipe is beginning to tear itself apart ahead of a promised oil boom that could transform one of the poorest countries in the world.
Giant neighbour Nigeria has expressed concern over a delay in awarding five oil exploration contracts in the offshore development zone it has created on a 60-40 basis with the twin island archipelago in the Gulf of Guinea.
Only one block has so far been attributed, in February, when it was awarded to US oil companies ChevronTexaco and Exxon-Mobil, plus the Nigerian and Norwegian consortium, Equity Energy Resources.
It enabled São Tomé's parliament to approve the largest budget in the country's history, totalling $96,2-million (about R634-million) and including oil revenue, of $49,2-million, for the first time.
Government wants to spend the money on health and education
Fired up by the prospect, state employees began a week-long strike on Monday, closing ministries, hospitals and other services and virtually every school in support of a pay rise after talks with the government broke down.
They are seeking an increase in the minimum monthly salary from $30 to $100, while the government has offered $40, and have threatened to bring the country to a halt from the end of this week if their demands are not met.
But the government says $8-million of the windfall will be spent on priority projects including health and education, with the rest being needed for debt repayments.
On the political front, already poor relations between the main component in the ruling coalition, the São Tomé and Príncipe Liberation Movement-Social Democrat Party (MLSTP-PSD) and President Fradique de Menezes have worsened.
A month ago the head of the MLSTP-PSD-dominated parliament's oil commission, Carlos Neves, hit out at the procedure for attributing the five blocks, saying there had been "serious errors which harm the interests" of the country.
'Avoidable delays have been experienced'
He claimed certain oil companies had been favoured and attacked the alleged role of some presidential aides, notably Menezes' chief of staff who was accused of links to one company in particular.
Menezes yielded, sidelining the official from oil negotiations, but then found himself under attack for his own handling of the oil issue.
"We don't know what criteria have been used for awarding of the various blocks," said MLSTP-PSD spokesperson Carlos Tiny, demanding a judicial inquiry.
"Some companies were ruled out at the technical stage but are still being given a share."
Menezes retorted that problems had emerged because of agreements signed before he became president in 2001, but the row grew more bitter when he sacked his oil adviser, Patrice Trovoada, head of a smaller party in the ruling coalition.
Natural Resources Minister Arlindo Carvalho, a member of Trovoada's party, responded by handing in his resignation, which the president refused, on the grounds that negotiations over attributing further exploration blocks were in full swing.
Last week Nigeria's Deputy Foreign Minister Abubakar Tanko told a meeting of the neighbours' joint ministerial council that "nothing has been achieved due to undue politicisation of what should be a purely technical matter.
"Avoidable delays have been experienced in the awarding of blocks in this round."
"It is pertinent to note that the more delays that are experienced, the more the credibility of this laudable partnership and brotherhood is eroded, which I believe is not in the best interest of our governments and people," he warned.
"If we continue to allow extraneous factors to guide our thoughts and decisions, it will seriously affect the bond of our partnership and our brotherhood which had started becoming the envy of many countries with similar situations," he said.
Tanko's warning came two days after Nigerian President Olusegun Obasanjo made a lightning visit to the archipelago. Sources close to his São Tomé counterpart said he had "knocked heads together" in a bid to cool tensions. - Sapa-AFP
By Anonymous, at 12:14 PM
I won't have time to translate all of this for you, but get your kids to do it - most of them have at least a year of French! It's from Agence France-Presse, which is a reliable and uninvolved news agency. I notice in the first glance at it that it seems to be repeating the demand of Carlo Tiny of the MLSTP that the awards process go to the courts.
Now that I have had time to read it, the article seems to have missed the occurrence of the second meeting of the JMC, and is merely recapping all that went before.
There appears to be nothing new in it. There are several machine translations in the Comments section. Ou sont mon Pierette, mon Claudine?
Note that the earlier story, in French, has some different people quoted in it:
Sao Tomé et Principe en proie à la fièvre pétrolière,
déjà
Avant même d'avoir extrait son premier baril de brut,
l'archipel de Sao Tomé et Principe se déchire déjà
autour de son or noir, sujet d'une polémique qui
oppose depuis plusieurs semaines le président à son
opposition autour de l'attribution des puits de
pétrole.
Pauvre parmi les pauvres, le petit pays du Golfe de
Guinée attend depuis des années avec impatience ses
premiers pétrodollars. Longtemps retardés par un
différend frontalier avec le Nigeria voisin, les
premiers revenus pétroliers ont enfin été inclus dans
le budget 2005 de l'Etat santoméen, après
l'adjudication en février d'un premier bloc de la zone
conjointe entre les deux pays.
Cinq autres blocs devaient être rapidement attribués
et consacrer l'entrée officielle de Sao Tomé dans le
club jalousé des pays producteurs de pétrole. Mais
depuis quelques semaines, l'or noir et ses promesses
de richesse font tourner la tête des responsables du
pays.
Tout a commencé fin avril lorsque le principal parti
de la coalition gouvernementale, le Mouvement de
libération de Sao Tomé et Principe-Parti
social-démocrate (MLSTP-PSD), a critiqué le processus
d'attribution de ces cinq blocs, qualifié de
"frauduleux".
"Il y a dans ce processus de graves erreurs de
procédure qui affectent les intérêts de Sao Tomé", a
déploré le président de la commission pétrolière de
l'Assemblée, à majorité MLSTP-PSD, Carlos Nevès.
Et de dénoncer les droits octroyés à certaines
compagnies pétrolières en vertu d'accords passés et le
rôle jugé "trouble" de certains proches du président
Fradique de Menezes, particulièrement celui de son
directeur de cabinet accusé d'avoir des intérêts dans
une compagnie pétrolière.
Après quelques jours de polémique, le chef de l'Etat a
finalement décidé d'écarter son collaborateur des
négociations pétrolières. Mais l'incendie est reparti
de plus belle lorsque le MLSTP-PSD, en guerre larvée
avec le président depuis son arrivée au pouvoir en
2001, a mis en cause sa gestion personnelle du
dossier.
"On ne sait quel sont les critères utilisés pour
l'attribution des différents blocs. Certaines
compagnies ont été exclues lors de l'examen technique
mais ont malgré tout bénéficié de parts", s'est étonné
le porte-parole du MLSTP-PSD, Carlos Tiny, avant de
demander l'ouverture d'une enquête judiciaire sur la
question.
Le chef de l'Etat a vivement réagi et affirmé devant
la presse que "les problèmes (du dossier pétrolier)
sont apparus à cause des accords signés avant (son)
entrée en fonction".
Loin de se calmer, la polémique a atteint son
paroxysme lorsque le président de Menezes a congédié
son conseiller pour les affaires pétrolières Patrice
Trovoada, par ailleurs secrétaire général d'un parti
de la coalition gouvernementale qui lui est opposée,
pour avoir évoqué les "nuages" qui obscurcissent le
dossier pétrolier.
Membre du même parti, le ministre des Ressources
naturelles Arlindo Carvalho a riposté le 16 mai en
présentant sa démission. Le président l'a refusée, au
motif que l'Autorité conjointe Sao Tomé-Nigeria était
est en pleine négociation sur l'adjudication des
blocs.
Il aura finalement fallu la visite éclair à Sao Tomé,
dimanche dernier, du président nigérian Olusegun
Obasanjo et, selon des sources proches de la
présidence santoméenne, un rappel à l'ordre "musclé"
pour que la fièvre de l'or noir qui s'est emparée de
l'archipel retombe. Provisoirement.
Début mai, un défenseur des droits civiques dans la
province angolaise de Cabinda en visite sur l'archipel
avait mis en garde ses hôtes contre la "malédiction"
du pétrole. "Les politiciens feront de ce pétrole leur
richesse personnelle", avait dit Raul Danda,
"réservant à la population le cauchemar de la misère".
37 comments:
Divided into volumes Sao and Principle in prey to the oil fever, already
Before even of have extracted his first barrel of crude one, the archipelago of Divided one into volumes Sao
and Principle tears itself already around his now black, subject of a debate that opposes since several weeks
the president to his opposition around the granting of the oil wells.
Poor among the poor ones, the small country of the Guinea Gulf awaits since years with impatience its first
pétrodollars. A long time delayed by a border disagreement with the Nigeria neighbor, the first oil income at
last were included in the budget 2005 of the state santoméen, after the auction in February of a first pad of
the joint zone between the two countries.
Five other pads quickly had to be attributed and consecrate the official entry of Divided one into volumes Sao
in the envied club of the productive countries of oil. But for a few weeks, the now black and its wealth
promises do to turn the head of the persons in charge of the country.
All began end of april when the principal party of the governmental coalition, the liberation Movement of
Divided one into volumes Sao and Left social Principle democrat (mlstp-psd), criticized the granting process
of these five pads, qualified of "frauduleux".
"There is in this process of serious procedure errors that affect the interests of Divided one into volumes
Sao", deplored the president of the oil commission of the assembly, to majority mlstp-psd, Carlos Nevès.
And to denounce the rights granted to certain oil companies by virtue of past agreements and the judged role
"disturbance" of certain near ones of the president Fradique of Menezes, particularly the one of his office
director accused to have interests in an oil company.
After some days of debate, the boss of the state finally decided to separate his assistant of the oil
negotiations. But the fire is set off again of more beautiful one when the mlstp-psd, at war latent with the
president since his in power arrival in 2001, questioned his personal management of the file.
"One does not know which are the used criteria for the granting of the different pads. Certain companies were
excluded at the time of the technical examination but have despite all benefitted from parts", astonished
itself the spokesperson of the mlstp-psd, Carlos Tiny, before asking the opening of a judicial investigation
on the question.
The boss of the state sharply reacted and asserted in front of the press that "the problems (oil file)
appeared because of the signed agreements before (his) take office".
Far to calm itself, the debate attained his paroxysme when the president of Menezes dismissed his counselor
for the oil matters Patrice Trovoada, besides general secretary on a part governmental coalition that is
opposed for him, to have evoked the "clouds" that obscure the oil file.
Member of the even left one, the minister of the natural Resources Arlindo Carvalho retorted May 16 while
presenting his resignation. The president refused it, to the motive that joint authority Divided into volumes
Sao nigeria was is squarely negotiation on the auction of the pads.
It finally will have been necessary the visit flash to Divided into volumes Sao, last Sunday, Nigerian
president Olusegun Obasanjo and, according to near sources of the presidency santoméenne, a reminder to the
order "muscular" for that the fever of the now black that seized itself archipelago falls again.
Provisionally.
At the beginning of May, a defender of the civic rights in the angolan province of Cabinda some visits on the
archipelago had warned its hosts against the "malédiction" oil. "The politicians will do this oil their
personal wealth", had said Raul Danda, "reserving to the population the nightmare of the misery".
TRANSLATION : Divided Into Volumes Sao Tome and Principle in prey to the oil fever, already
Before even of have extracted his first barrel of crude one, the archipelago of Divided one into volumes Sao and Principle tears itself already around his now black, subject of a debate that opposes since several weeks
the president to his opposition around the granting of the oil wells.
Poor among the poor ones, the small country of the Guinea Gulf awaits since years with impatience its first pétrodollars.
A long time delayed by a border disagreement with the Nigeria neighbor, the first oil income at
last were included in the budget 2005 of the state santoméen, after the auction in February of a first pad of the joint zone between the two countries.
Five other blocks quickly had to be attributed and consecrate the official entry of Divided one into volumes Sao Tome in the envied club of the productive countries of oil.
But for a few weeks, the now black and its wealth promises do to turn the head of the persons in charge of the country.
All began end of april when the principal party of the governmental coalition, the liberation Movement of
Divided one into volumes Sao and Left social Principle democrat (MLSTP-PSD), criticized the granting process
of these five blocks, qualified of "frauduleux".
"There is in this process of serious procedure errors that affect the interests of Divided one into volumes
Sao", deplored the president of the oil commission of the assembly, to majority mlstp-psd, Carlos Nevès.
And to denounce the rights granted to certain oil companies by virtue of past agreements and the judged role "disturbance" of certain near ones of the president Fradique of Menezes, particularly the one of his office director accused to have interests in an oil company.
After some days of debate, the boss of the state finally decided to separate his assistant of the oil negotiations.
But the fire is set off again of more beautiful one when the mlstp-psd, at war latent with the
president since his in power arrival in 2001, questioned his personal management of the file.
"One does not know which are the used criteria for the granting of the different blocks.
Certain companies were
excluded at the time of the technical examination but have despite all benefitted from parts", astonished
itself the spokesperson of the mlstp-psd, Carlos Tiny, before asking the opening of a judicial investigation on the question.
The boss of the state sharply reacted and asserted in front of the press that "the problems (oil file) appeared because of the signed agreements before (his) take office".
Far to calm itself, the debate attained his paroxysme when the president of Menezes dismissed his counselor
for the oil matters Patrice Trovoada, besides general secretary on a part governmental coalition that is
opposed for him, to have evoked the "clouds" that obscure the oil file.
Member of the even left one, the minister of the natural Resources Arlindo Carvalho retorted May 16 while presenting his resignation. The president refused it, to the motive that joint authority
Divided into volumes
Sao Tome, Nigeria was is squarely negotiation on the auction of the blocks.
It finally will have been necessary the visit flash to Divided into volumes Sao Tome, last Sunday, Nigerian
president Olusegun Obasanjo and, according to near sources of the presidency santoméenne, a reminder to the order "muscular" for that the fever of the now black that seized itself archipelago falls again.
Provisionally.
At the beginning of May, a defender of the civic rights in the angolan province of Cabinda some visits on the
archipelago had warned its hosts against the "malédiction" oil. "The politicians will do this oil their
personal wealth", had said Raul Danda, "reserving to the population the nightmare of the misery
Both of these countries have gone to the world seeking debt relief. They should start at home, with Nigeria offering debt relief to Sao Tome.
If XOM and APC give cash to STP ...
Joe in response to your post #39 under the last article I wanted to respond.
Carvhalo also stated that if the Sao Tomeans dont make a quick decision then they will be putting the reputation of the JDZ at stake and as a result the $10 million they owe will be demanded immeditely from the Nigerians and the Sao Tomeans will NOT receive the $49 million in signature bonus money from Block 1.
So yes he did say they would receive the block 1 money with the added caveat that they actually had to sign off on awards first to recieve this money.
IMHO these statements by Carvhalo, (the Oil Minister from Sao Tome) were the most significant developments since the JMC Meeting and should have gotten more play and discussion.
This is positive news to me that he is talking in this manner. Maybe he is setting up the people of Sao Tome to understand that awards must be signed off on or there will be serious consequences. Thus making it easier for de Menezes to sign off.
Come on Joe we need a dream...(take some vals tonight)...
This is directed at ArtK4K: Art, the last time this sort of thing happened, the only word we ever received to let us know that things had gone wrong was a throwaway comment by Fradique de Menezes toh a reporter who caught him for a moment as he was boarding a plane to leave the country, and FDM told him the blocks would be rebid. The RB people everyone seems to follow wove this true comment into just the opposite, a lie, and persisted for months in saying that awards would happen any day. At that time there was no blog, no Sam Dimka, no Markvols, no SH70 or Great Springs or Investors Hub sites for investors to weigh and double-check and evaluate various streams of information, and no news coverage from Nigerian or Sao Tome newspapers and Websites, no month-old Menas Associates profiles and no interest in the world press. Together, all these sites have helped to change that dramatically, so that no redinvest or tuneman or SwingingK or walldog or thinkbig or other swing traders can distort the truth so they can get out while others who believe them stay in and get hammered. That is the big difference between the last disaster and this one. I was tired of seeing these guys victimize hundreds of naive traders with their lies, distortions and half-truths, and I knew there was a lot of news out there to be covered if only I could devote the time and energy to it that it takes to cover. For five months now I have done this and basically nothing but this. I now have to get a job and earn some money I thought ERHE would earn for me. I am planning (and I could change my mind at the drop of a hat, believe me, because that's how fast the situation and the market changes) to hang on to my 120,000 shares and hopefully my remaining $22,000 profit (it was $64,000 at $0.79) will not be so very terribly impaired. This holdup makes Offor more vulnerable and perhaps more open to a buyout, and there still is the chance that Sao Tome will accept the awful deal they made and get on with it. I will keep the blog going for a while in that hope. But those possibilities are not something I would urge some trader who is hoping to pay for his kids' college education or a person who has sunk a life's savings into it to stay around for; if there is money down the line, it may be here in 15 days but it well may not be here for years. But that is a choice they have to make, and I want them all to know I wish them the very best of luck in the choices they make. Insogfar as making money on it, at least this time we know enough to make a decision to stay or get out and don't have to rely on the RB gang that misled us all so badly last time.
Don't always agree with Joe but he spoke true right now.
the people of sao tome never seems to make a clear statement. its a storm in a cup of water», affirmed Arlindo Oak. it would be nice if he could elaborate and set things straight, but no, just more empty words. We submit the leaders of state of the two countries for decision», assured the Minister,
thats where we are now . despite all the doom and rumors, i think the leaders will work this out in the next few days. no one can aford more delays. what can mendez do, The National Advice of the Oil said-
1- HIM it Referred trial of adjudicação of the blocks proposed, in no moment damages the interests of the State Santomense;
2- THE National Advice of the Oil recognizes with foundation in the opinion of the National Agency of the Oil that had insuficiências formal and of procedures in the trial of adjudicação, although the same have not addict the results;
3- In That trial of adjudicação of the blocks, the question of the ERHC did not have any influence in the proposals, having in count the rights already acquired by that company in based on the agreement negotiated in 2001 and renegociado in 2003;....
Menezes will bite the dust soon enough.
stay tuned
I read the ragingbull board and thinkbig has to be popping canadian qualudes for saying awards are today and no need to worry. A swing trader who likes cmkx!
Anonymous@9:34,
ThinkSmall is full of it, don't listen to a word he says. He's good for demeaning people and meaningless optimistic analysis.
-Ken
Promise of oil sparks fights
May 30 2005 at 03:33PM
http://article.wn.com/link/WNATCC1A8FFB65054DF7232EC056746FB14C?source=templategenerator&template=nigeriadaily/index.txt
São Tomé - The tiny West African island state of São Tomé and Príncipe is beginning to tear itself apart ahead of a promised oil boom that could transform one of the poorest countries in the world.
Giant neighbour Nigeria has expressed concern over a delay in awarding five oil exploration contracts in the offshore development zone it has created on a 60-40 basis with the twin island archipelago in the Gulf of Guinea.
Only one block has so far been attributed, in February, when it was awarded to US oil companies ChevronTexaco and Exxon-Mobil, plus the Nigerian and Norwegian consortium, Equity Energy Resources.
It enabled São Tomé's parliament to approve the largest budget in the country's history, totalling $96,2-million (about R634-million) and including oil revenue, of $49,2-million, for the first time.
Government wants to spend the money on health and education
Fired up by the prospect, state employees began a week-long strike on Monday, closing ministries, hospitals and other services and virtually every school in support of a pay rise after talks with the government broke down.
They are seeking an increase in the minimum monthly salary from $30 to $100, while the government has offered $40, and have threatened to bring the country to a halt from the end of this week if their demands are not met.
But the government says $8-million of the windfall will be spent on priority projects including health and education, with the rest being needed for debt repayments.
On the political front, already poor relations between the main component in the ruling coalition, the São Tomé and Príncipe Liberation Movement-Social Democrat Party (MLSTP-PSD) and President Fradique de Menezes have worsened.
A month ago the head of the MLSTP-PSD-dominated parliament's oil commission, Carlos Neves, hit out at the procedure for attributing the five blocks, saying there had been "serious errors which harm the interests" of the country.
'Avoidable delays have been experienced'
He claimed certain oil companies had been favoured and attacked the alleged role of some presidential aids, notably Menezes' chief of staff who was accused of links to one company in particular.
Menezes yielded, sidelining the official from oil negotiations, but then found himself under attack for his own handling of the oil issue.
"We don't know what criteria have been used for awarding of the various blocks," said MLSTP-PSD spokesperson Carlos Tiny, demanding a judicial inquiry.
"Some companies were ruled out at the technical stage but are still being given a share."
Menezes retorted that problems had emerged because of agreements signed before he became president in 2001, but the row grew more bitter when he sacked his oil adviser, Patrice Trovoada, head of a smaller party in the ruling coalition.
Natural Resources Minister Arlindo Carvalho, a member of Trovoada's party, responded by handing in his resignation, which the president refused, on the grounds that negotiations over attributing further exploration blocks were in full swing.
Last week Nigeria's Deputy Foreign Minister Abubakar Tanko told a meeting of the neighbours' joint ministerial council that "nothing has been achieved due to undue politicisation of what should be a purely technical matter.
"Avoidable delays have been experienced in the awarding of blocks in this round."
"It is pertinent to note that the more delays that are experienced, the more the credibility of this laudable partnership and brotherhood is eroded, which I believe is not in the best interest of our governments and people," he warned.
"If we continue to allow extraneous factors to guide our thoughts and decisions, it will seriously affect the bond of our partnership and our brotherhood which had started becoming the envy of many countries with similar situations," he said.
Tanko's warning came two days after Nigerian President Olusegun Obasanjo made a lightning visit to the archipelago. Sources close to his São Tomé counterpart said he had "knocked heads together" in a bid to cool tensions. - Sapa-AFP
any idea how low this stock will go tomorrow? 20 cent is support.
i would not expect any awards this year. they will need 5 more rounds to finish the deal. i will aim for 2010.
good luck arseholes.
GAP DOWN !!!!!!!!!!!!!!!!!!!!!!!
YA HOSED ROFLMAO
NO! AWARDS.
GAP lower to $0.55
close day at $.51
should hold $.50 unless new delays are confirmed
***Rumor Provokes Crisis in the Dossier Oil are-tomense***
Tela Non News .....
To recent crisis that the country watched the return of the adjudicação of the 5 blocks of oil of the JDZ, had root in a rumor.
The guarantee is of the Minister of the Natural Resorts, that considerou of unnecessary the crisis with that the political class abrilhantou the country.
Arlindo Oak, that put the charge the arrangement because of the crisis, says even that did itself "a big storm in a cup of water".
Of return of Abuja where the ministers of Sao Tomé and Prince and of the Nigeria, passed in magazine the trial of adjudicação of the 5 blocks of oil of the joint zone, the Minister of the Natural Resorts, said that to meeting of three days permitted to give continuity the negotiations for the beginning of the oil-producing exploitation in the 5 blocks of oil.
«This want to say, and that stayed very well clear, that still had not been adjudicado, and to this moment was not adjudicado, no alone block of the second auction of oil in our Joint Development Zone.
All to polémica, everything what generated the return of that, did not pass from a storm in a cup of water», affirmed Arlindo Oak.
Second the minister, in the meeting of Abuja the two part presented proposals concretas with sight the attribution of the blocks to the companies participants of the public contest.
Arlindo Oak guarantees that the delegations maintained his positions on the basis of the proposals presented by the oil-producing companies, and in the diligence deeds next to the peculiar companies interested us blocks.
Some aspects stayed pendants, nomeadamente the program of work that the companies presented for the exploitation of the blocks. The period indicated for the beginning of the output, is one of the matters that the Joint Ministerial Advice decided to remit for decision of the leaders of state of the two countries. «We submit the leaders of state of the two countries for decision», assured the Minister, for afterwards show the opening that exists of the breaks are-tomense in the handling of the dossier, where the decision does not fit barely to the President of the Republic, but yes to the National Advice of Oil, by him led. In this way, the position that the are-tomense state leader, is going to defend next to his Nigerian counterpart, with sight the attribution of the 5 blocks, will be fruit of a consertação national.
Arlindo Oak, that in the heat of the recent crisis in the dossier oil, had request the dismissal alleging that the trial had I assume dark contours, culpabilizava now the press by the eclosão of a crisis that says to have roots in the rumor. «The problem was created by the news veiculada, that generated social convulsion and evil be, mainly for someone that is the front of a question it negotiate with all to good faith. And when it see implicado in a question that does not know the reason about be, to only solution is going to put the place the arrangement, because I am not going to be snobbish in a thing that does not know what is that is. Each a speech what will want. Including his departure (ADI)? Exactamente all the country entered in a convulsion without need», underlined the Minister.
Second the Minister actualmente perceives himself that there was not reason for so much polémica, since no block of oil had been adjudicado to any oil-producing company, to the contrary one than had been divulged by the press. Even so it says that to his decision of dismiss himself of the charge is irreversível. The refusal of the resignation by the President of the Republic, is normal. «It is normal because entering someone now as the minister, can be that this would lead very longer. For me and by the sense of state that of should have, if is necessary sacrifice to mine own life, for more some time, of form it contribute for the well of this country I do», assured Arlindo Oak. .
The Minister of the Natural Resorts, increased on the other hand, that to meeting of the ministerial advice assembly of Abuja, file arrestas of form to that the 49 millions of belonging dollars to Saint Tomé and Prince, and resultant of the sale of the block number 1 of the joint zone be desbloqueados the more quick possible.
Joe, read your blog daily to see what has been posted. Unfortunately i do not agree often with your comments and posting of certain news titles. Have been in ERHC now for almost 9 years and was fortunate to take a risk and buy quite a few at .03. Have added througout the years especially the last 2 years. Elephant fields has been a tremendous board for me for information and a real grasp of the company and information on DD. If it was not for EF i would never been in such a profitable position and likely a millionaire at under $2. very soon . Unlike yourself i am very lucky that i can hold all my shares and continually ADD to my position. Even if it drags for another year or two our rights is why i am here. Nobody can take them away and if oil is to be found ERHE will be a big part of it. Every deal has created a better picture for ERHE and we stand to be big winners. If you have a choice in keeping your shares or closing your blog keep the shares, it will be more profitable and less time consuming. Thanks for SOME of your postings but agendas and truth are quite different.
a major sell off just before awards would be in all real players interest, thats why it will not happen. people may be stupid, but not that stupid. i think we will close higher tomorrow. if not i will add to my position.
Come on Joe - you've had a long holiday to sleep - time to post a dream.
Joe, is the pop top contest cancelled again? Tell me it ain't so Joe.
Joe - What about a bottom gottem contest?
Joe,
GET A REAL JOB,tear your selfserving soap box down and drag it to another street corner.
It puts the lotion in the basket like it's told or it gets the hose again
Good to hear this blog is closing. Thank you very much for that. This blog added a lot of nothing but confusion and volatility. There are already more than enough public message boards. Why don't you and other commentators come to one of those boards? No need for another board for more confusion.
Look who's back.....
The "I blame Joe for everything crowd"
Sorry whiny babies, but I am man enough to want to hear both the good and the bad news. The more information we get the matter.
The fact of the matter is, Joe's blog was the first to get the news first on many occasions and has been right more often than not.
If you babies cant handle that then I would suggest you sell your stock.
Bullshit, MF, added volality might helped your daytrading, but no more. This blog will be forgotten as soon as the award is announced, which is to be within days. Joe made a wise decision to close it before it's forgotten.
7:03,
So you are afraid to hear news? Because you dont want the added volatility to your investment?
Why do you bother to read any news then on any stock you own. Why dont you just hide in a dark room somewhere and block out all news and never turn on your computer if your so afraid?
Joe was the first to report there was unrest in Sao Tome two weeks ago. And he turned out to be correct. You would rather bury yoyur head in the sand like an ostrich and pretend evrything is ok.
That is no way to invest. By the way, I dont swing trade. Im just a long who happens to have enough confidence in my investment to hear ALL of the news
So thank you Joe for your efforts. Sorry your detractors are such babies.
Memo to the management of Raging Bull:
You are now losing all of your customers due to your poor management of the ERHC board, so congratulations.
Countless times I had tried having people like Mongo tossed. One of the violations of rules on RB is repetitive posting. Mongo had done a repetitive post on one particular issue 73 times. I sent them into you and filed a TOS violation and he was never tossed.
Yet almost 70% of the valuable longs who posted on RB have now been tossed. That is why people are leaving your sight in hordes. Because you run a sight that tends to favor the bashers and the shorts.
If you continue to allow things to progress as they have you will have no one but short sellers and bashers using RB.
RB has the highest percentage of bashers of any type of message board because you have failed to police them. Thats why I spend my time elsewhere now and Im sure other "investors" feel the same way. Your shoddy management has allowed your boards to become over rn by bashers.
So thanks for nothing and I continue to enjoy watching you lose all your customers.
Sincerely, a former Raging Bull long.
To the poster that is bashing Joe's Blog because it has added too much volatility to your investment...
Do you also bash Swinging K and Mark Vol for the added volatility?
My bet is you dont...
You are not looking for news, instead you want constant reassurance that you made a good investment decision.
Most of us longs with any backbone would rather hear news and not endless pumping.
BREAKING NEWS
Homeport just reported on Ihub that de Menezes has just left for Abuja, Nigeria to met with Obasanjo!!
If this is true this is great news!
(By the way, if it werent for Joe's Blog there would be no homeport. So thank you for giving him a voice Joe.)
By the way I wasnt inferring that Mark and Swing are pumpers.
They are not and I appreciate all of their updates as well.
Get the picture.
I like to hear ALL of the news from as many sources as possible.
Great post about raging bull. I would post that message on raging bull myself but I have been tossed also lol.
UPDATE ON BREAKING NEWS
the daneslapper called the JDA and they have just confirmed homeports message that Obasanjo and de Menezes are meeting in Abuja today.
Thanks to both of you for that information. That is very encouraging news. Lines of communication staying open between these two countries is very very important at this juncture.
Hopefully they resolve some major issues today.
Either that of de Menezes is fleeing the country due to the strike and all of the political turmoil . lol
Make a glorious exit while you can. I am talking about the blog.
Anonymous 8:14
The only thing that should be making a "glorious exit)" is the pacifier from your mouth.
You big baby.
Joe - Wake up! Either continue the blog and/or admit you sold all your shares on Friday.
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