Member Info for johntroy

the 6 months are up on the 29th October, two ways anytime before that date , agree the terms of rto with eer or pull out of the deal, brady needs this deal, eer needs this deal, having found the delay which was down to the relisting of sacoil and now knowing when this is happening (Monday 14th or soon after) mr borrelli can prepare their rns for due diligence to process the completion of the rto with eer, all in my opinion.......by the way if this comes off afren , lekoil, sacoil and the new brady have huge upside potential, afren have the finances, lekoil finances already in place, sacoils seem ready to go, eer having already in the past raised capital, there is a lot of oil at play.

not sure about prs soaring when sacoil relists, one way prs will soar is if the deal with eer reverse take over comes off with brdy, prs have a 27% in brdy not sacoil. All these various % in different companies can be confusing if research has not been done. eer and brady = reverse takeover eer and sacoil = joint venture prs and brady = 27% interest in brady sacoil needs relisting before brady completes deal with eer, brady due diligence with eer, prs with 27% in brady increases their share price (to what is unknown) when brady relists, my opinion only

all being well what do we have to look forward to. JDZ block 1 The Nigeria São Tomé and Príncipe Joint Development Zone (JDZ) is located in the deepwater Niger Delta. In excess of 12 billion bbls of recoverable oil reserves have been discovered to date in this deepwater province with an exploration success rate better than 50%. The block is adjacent to major Nigerian discoveries including the Akpo discovery (estimated at 600MM bbls oil plus 500MM bbls discovery potential). The water depth ranges from 1,500 to 2,200 metres. JDZ Block 1 is operated by a major I.O.C. and EER originally held a 4.41% equity interest through its joint venture with Dangote Oil & Gas Ltd. Afren has assumed EER’s share of this joint venture, but EER remains entitled to receive up front payments based on reserves approved for development. The block covers an area of 704 sq km. 13 exploration prospects, with multi-billion barrel potential, were identified by ECL in a non-exclusive study in 2003. The first well on the block, Obo-1 was completed in March 2006. Drilling programme has commenced on two wells (1 appraisal/ 1 exploration ) in the block. OPL 281 (formerly OML44) is located in the onshore swamp within the prolific area of the western Niger delta, south of OML 42, which has giant fields such as Odidi, Egwa & Jones creek. Two discovery wells have been drilled in OPL281: Ekoro- 1 in 1967 and Obote 1 in 1970. Ekoro 1 well encountered hydrocarbons in 8 intervals between 8260 ft and 10761 ft while Obote 1 well encountered 4 hydrocarbon bearing intervals between 8720 ft and 12350 ft respectively. The block was awarded to Transcorp in 2006 as part of a Mini Bid Round. Transcorp, EER and SacOil entered into a Joint Operating Agreement (JOA) where EER will provide Technical Leadership for operating the asset on behalf of the JV. Reconnaissance survey carried out in November 2010 by Hornbird Geosearch Integrated Services Ltd (Nigerian company) confirmed the existence of the 2 wells and their location. TRACS, an independent consultant, produces a Competent Persons Report (CPR) which states contingent resource of 100 MMbo for the prospect delineated by the two wells. Significant exploration upside exists with Prospective Resources in deeper horizons in the discovery and several prospects have been identified for further study which may be future drill candidates. EER has also engaged directly with the local government and communities in order to develop sustainable and value added CSR programs. OPL 233 covers 126 km square and located in a near-shore shallow water depth of approx. 30 feet and less; immediately adjacent to Apoi Field (Reserves >600 MMboe) and north west of OML 141. Previous operator, Shell, acquired a sparse grid of 2D seismic and drilled one exploration well (Olobia-1) in 1986, which encountered hydrocarbon in five intervals between 4500 and 7200 ft. The block was awarded to NIGDEL in 2

More specifically, Nigeria has many discovered but undeveloped oil and gas fields and there is active divestment of certain Production Assets by international oil companies (“IOCs”) because of, inter alia, Nigeria’s Indigenisation Laws. To acquire Production Assets, SacOil needed a local Nigerian partner and SacOil is therefore pleased to announce its entry into an unincorporated joint venture agreement with Energy Equity Resources (“EER”). in my view without sacoil being relisted a joint venture with eer will not take place, now sacoils problems have been sorted out mr borrelli can conclude the reverse take over with brady and eer. eer need a listing on the London stock market to take eer forward.

rns from sacoil states relisting on or just after 14th October, Monday, is this the conclusion now for mr borrelli to announce news for brady on the rto with eer, read sacoils rns for confirmation, as they say on the x factor " this is it"

2nd time speaking directly on the phone, he sounded if the worst was over in pulling this off, seemed as laid back as david lenigas was a few weeks ago when he had the opportunity for a chat, he was very informative. stuck with brady as I did not need the money even though my finger had been on the sell button , hope it has all been worth it, JT

very positive , three meetings a week, "it's taken far to long" , taking or taken , his words "taken", can't say anything that is price sensitive or I would have to make an announcement, suppose that is correct even though brady is in a closed position but prs is not, on the whole it was very nice to be called back, after all he didn't have to. as you know I have been very negative towards my money being tied up but I wish mr borrelli the very best in concluding the rto. we are all anxious but I would tend to sway on the side of a successful outcome

had a brief chat with alex today, hip hip ....

can you send me your email with your thoughts, I also spoke with eer today... email translate -- .- - - .- -. -.. ... .. .-.. -.- .--.-. -.-- .- .... --- --- .-.-.- -.-. --- .-.-.- ..- -.-

long time no speak, rns looks positive as you say. I think eer need this more than brady with their commitment to Nigerian oil, a very forward looking company which needs the London stock exchange on their side, just a matter of a maximum 20 trading days before our long awaited news , now more weighted for completion in my opinion...nothing more to do other than hang in there.

personally I think news will be next Monday when sacoil relists from suspension, same block, same gairngoch as all tied in with oml 113 and eernl, not sure on borrelli's wording in 29th april (advanced stage ) and15th august (progress), I would like to have seen stronger words used as the rns lacks steam, waiting and watching in the hope that this deal materializes ,.....we should soon know.

2010 January JV Agreement executed with Afren Plc and Oriental Energy Resources September JV Agreement with Sacoil signed November MOU with Essar signed December Farm-in agreement signed on OPL 233 >> 2011 January JBA with Energy Company for joint bidding on OML 40/42 in Shell Divestment Program February Dr Satinder Purewal joined EER as Technical Director/ Chief Operating Officer February Farm out & Participation agreement signed on OPL 281, awaiting Govt. consent >> 2012 March New asset acquired in Nigeria from IOC anyone with further updates please.

todays rns from sacoil mentions oml 233 and what eer have to financially pay up, within two weeks now for the up or down, gla.

if sacoil now have their forward looking agreement with gairngoch , eer also have from what I have read dealings with gairngoch, could our announcement now be almost with us as sac have concluded their part , am I right in saying that our interest is within the same oml block, thoughts anyone...

thanks, i'll have to watch where I put my money, sold to early on rem, atuk and hcp, still waiting on lek and brdy plus others I don't wish to mention, enjoy your posts, keen follower without funds.

strange no news, this number shares has not been bought in the past two years, must be news on the way, under the radar considering it was 60pence at one time.

thanks for your honest reply, last contract award noted was back in april and prior to this September and july last year, the agm announcement must be now due , further, todays buying of 6.5 million shares in two tranches must be a signal that someone in the know has a huge amount of faith in the company as £178,000.00 or 10% of shares is quite a sum to spend on the business without any official news, nice to hear from you.

I can see 48 million are in private hands, 10 million bought this morning only leaves 14 million in pi's hands , this should really move on any news, was at 60 pence a share 5 years back, any help with knowledge on this company please.

why the sudden interest and a 10% stake this morning, any regular bb's with knowledge.

72 million shares in issue and 7 million bought in two hits this morning, is something going on, any help appreciated,