Member Info for johntroy

why has someone bought 10% of the company this morning , watching with interest as this caught my eye, quiet bb.

not sure about this now as the wording from "very advanced" has changed to "advanced" , a new word "proposed" ,we saw that word from the outset, how do we as a tiddler raise this huge some of money over the next 10 weeks before the shares are cancelled. I now think the board at brady having lost over 50% of share value during the past year and the constant spin material used to keep us interested should now resign, good luck in pulling this one off but their sights were set to high, egg on my face if I am wrong.

taken the bid to .20p buy at .21p

more board members, awaiting further news for relisting on jse and aim , not much longer now , we hope.

I do not want to paste and copy but after contacting Brady without success on the phone I tried EER direct, the person said that my questions would be answered via email and was very surprised to receive an answer from Mr Borrelli via EER's request. The main point which I will highlight is that they are "advanced with our due diligence and preparation of a draft admission document" , this says to me that further progress has been made to the original statement , draw your own conclusions but for EER to be passing on messages and to receive answers is admiral from our ceo, gla.

very nice message from alex today, all prep work done, get ready.

now that finally sac oil have appointed their new directors it should not be long before this rto is complete, I believe that with sac oil and eer working along side each other it was a question of waiting until sac had sorted out their relisting which must be on Monday now, gla

brady agreed in rto with eer but what is going through my mind while we all wait is the situation with sacoil which has been been in suspension for over a month, we are linked with sac in opl 233 in a big way and looking at the funding one financial company is playing with sac and eer, will await news but if anyone has any ideas what is going on behind the scenes please share, gla.

just the agm ,

DR. TUNJI OLOWOLAFE – Director Dr. Tunji Olowolafe (also known as Olatunji Olowolafe) is the Managing Director and Chief Executive Officer of Deux Project Limited. Dr. Olowolafe is a 1984 graduate of the University of Ilorin, Kwara State, Nigeria, after which he worked as a health worker across various parts of South Western Nigeria. Dr. Olowolafe's passion for medicine culminated in the formation of Deux Project Limited - a company initially focused on restructuring and fitting world class hospitals across various parts of Nigeria. Deux Project Limited has expanded its focus to include general civil engineering, construction and consultancy. Dr. Olowolafe also acts on the Boards of a number of other companies in different sectors of the Nigerian economy. keeping us in the dark.

now this is becoming confusing as regards to sac oil, a paragrapgh within sacs statement reads as follows.... 3. Benefits of a "Yes" vote The Specific Issue, if approved by Shareholders, would make SacOil debt free with the accompanying improved ability to raise significant further funds for investment in its projects. Following the Specific Issue, Gairloch would hold a 33.89% interest (pre the sell-down detailed in the paragraph below) in the total issued Shares of SacOil. Gairloch is a private company with material interests in infrastructure and manufacturing in Nigeria. Gairloch, also holds a 25% interest in EER and thus the introduction of Gairloch into the Company as a substantial shareholder will provide the Company with greater alignment with its Nigerian joint venture partner and also position the Company to better grow its Nigerian business. are we awaiting to own 100 % of eer on the rto, will this mean that Gairloch will own 25% of the company we are buying, is this suspension of sac oil all tied in with deal of brady and eer, did the directors of sac oil know what the future holds or did not like the deal that is coming off, we must be ever so close to finding out now, any views, gla

glad I took your advice back in December and hung onto my shares, your 4 to 6 weeks timeframe would be nice but having read about the Nigerian oil conference on june 4th I would not be surprised if this is done and dusted and relisted before then, good time for them to update on opl 233 as work is carrying on in the background, worth the wait as frustration last year nearly almost brought me to selling my shares, if only the company were a little more forward with news I would have been more at ease but again I can understand now why mr borrelli was working hard behind the scenes, should the bod read our posts you have a 100% apology from myself for any "bad mouthing" that I said at the time, gla

Provenance of OPL 233 OPL 233 was awarded to Nigdel in the 2006 bid round for a signature bonus of $11 million. Nigdel is headed by Joseph Penawou, who is said to have significant links to Niger Delta militants, and the company is considered by some to be a front. The acquisition of OPL 233 by SacOil/EER appears to underscore the reports that ex-Niger Delta militants have become powerful and are sealing increasingly lucrative deals in the oil and gas sector under the regime of Goodluck Jonathan, especially with Minister of Petroleum Resources Diezani Allison-Madueke at the helm of the sector.

nice price to buy opl 233 (2) OPL 233: A SHALLOW OFFSHORE OIL FIELD HAVING WATER DEPT OF 80~160 METERS, IT IS LOCATED IN BAYELSA STATE & 75KM FROM THE LNG PLANT IN BRASS, IT HAS 2D & 3D SIESMIC DATA, THE ESTIMATED OIL RESERVES ARE 200~500 MILLION BARRELS OF CRUDE OIL & 1 TRILLION CF OF GAS, THE FARM~IN STAKE AVAILABLE FOR SALE IS 40% AT A PRICE OF $1.8BILLION THE BUYER MUST HAVE RELEVANT PAST TECHNICAL EXPERIENCE IN OFFSHORE OPERATIONS & ALSO HAVE ACCESS TO TECHNICAL & FINANCIAL RESOURCES FOR OFFSHORE OPERATIONS. THE SALES PROCEDURE IS: (1) BUYER'S AGENT/MANDATE ARRANGES FOR BUYER TO DISCUSS WITH US ON A CONFERENCE TELEPHONE CALL TO FIRM~UP THE BUSINESS, (2) MEETINGS WITH US, (3) BUYER SIGNS MOU WITH US & HIS MANDATE & KEY AGENTS, (4) BUYER SENDS TO US A LETTER OF INTENT & HIS COMPANY PROFILE, (5) BUYER SENDS TO US A LETTER OF FINANCIAL CAPABILITY FROM HIS BANK, COVERING OUR QUOTED PRICE, (6) WE WILL SEND SOME RELEVANT DOCUMENTS TO BUYER, (7) WE WILL FORMALLY INTRODUCE BUYER TO SELLER TO START THEIR DIRECT DEALINGS, (8) BUYER WILL PROVIDE A PERFORMANCE BOND LATER. http://www.petrofinder.com/ship/ship_read.php?id=615

Nigeria, OPL 233: Approval of 2013 Work Program and Budget, Re-interpretation of seismic and well data In February 2013 the Nigerian National Petroleum Corporation (“NNPC”) approved the OPL 233 work program and budget for 2013. The approved work program includes the acquisition and processing of a 100 square kilometers of 3D Ocean Bottom Cable (OBC) seismic survey to be acquired over the block and the drilling of an exploration well. A site survey has been successfully completed by a seismic contractor and the final report is being compiled. Following the receipt of the site survey report, the seismic acquisition design parameters will be finalised and the OBC seismic survey is expected to be acquired during the next dry season in Q3 2013. The survey will enable the optimum placement of a well to appraise the Olobia-1 oil discovery on the Block and for SacOil to develop an understanding of the blocks prospectivity. In addition, SacOil is in the process of reviewing the existing seismic data in more detail and on completion will update its internal evaluation of the OPL 233 resources. It has also, sourced additional 3D data on the south-western portion of the concession, which will assist in the identification of a number of additional leads and prospects for subsequent further evaluation of the block.

tells his business story, http://ng.linkedin.com/pub/subrato-sen/5/371/377 .... the future.... Vice President (Operations) - Project Manager OPL233 Energy Equity Resources Privately Held; 11-50 employees; Oil & Energy industry October 2012– Present (8 months)Lagos - Nigeria Heading JV Operations team as Project Manager for shallow offshore asset - OPL 233. Current operations – 126 sqkm - 3D OBC Seismic Data Acquisition and processing. Project Cost $25MM (commencing Feb 2013). To be followed by drilling & testing of 2 exploratory well – US $72MM by Q1 2014. FEED and facilities design, hook up and crude evacuation planning to follow, targeted towards achieving first oil by Q4 2014.

Nigeria, OPL 233: Approval of 2013 Work Program and Budget, Re-interpretation of seismic and well data In February 2013 the Nigerian National Petroleum Corporation ("NNPC") approved the OPL 233 work program and budget for 2013. The approved work program includes the acquisition and processing of a 100 square kilometers of 3D Ocean Bottom Cable (OBC) seismic survey to be acquired over the block and the drilling of an exploration well. A site survey has been successfully completed by a seismic contractor and the final report is being compiled. Following the receipt of the site survey report, the seismic acquisition design parameters will be finalised and the OBC seismic survey is expected to be acquired during the next dry season in Q3 2013. The survey will enable the optimum placement of a well to appraise the Olobia-1 oil discovery on the Block and for SacOil to develop an understanding of the blocks prospectivity. In addition, SacOil is in the process of reviewing the existing seismic data in more detail and on completion will update its internal evaluation of the OPL 233 resources. It has also, sourced additional 2D data on the south-western portion of the concession, which will assist in the identification of a number of additional leads and prospects for subsequent further evaluation of the block.

OPL 233 OPL 233 is a shallow-water offshore block covering some 126 km2, and is located immediately off the coast of the central delta region of Nigeria, some 120 km due south-southeast from the Forcados terminal. The block is located in water depths ranging from 10 to 30 feet. OPL 233 was awarded to NIGDEL United Oil Company Limited (“NIGDEL”) in 2006 and the production sharing agreement was executed by NIGDEL and Nigerian National Petroleum Corporation (“NNPC”) in May 2007. Although much of the block remains unevaluated, assessments carried out to date have mapped leads and prospects using the existing seismic data, which will be further evaluated with an OBC (Ocean Bottom Cable) survey.Due to the block’s location in the core area of the prolific Niger delta play, close neighbours are oil majors such as Shell, Chevron and AGIP. Block overview One well was drilled in 1986 on OPL 233, which encountered five pay horizons containing oil and gas. TRACS review of the limited well data available confirms the original interpretation of the respective payzones and the hydro-carbon types encountered. The Phase 1 work program commitments include,the acquisition of 100km² of 3D and the drilling of one exploration well plus. Phase 2 consists of the drilling of two wells. At completion of the acquisition, SacOil will hold 20%, EER 20% and Nigdel 60% equity in the block. Operational Overview: •Completed the interpretation of existing seismic and well data •Completed the modelling and planning of the 3D OBC seismic survey •SacOil with its joint venture partners are in the process of finalising 3D OBC contractor assessments and engagements •Completed the feasibility study of an extended well test

looking at the interest we propose to have once the rto is complete, back in 2010 eernl has a 20 % stake in a jv with sacoil to produce 10,000 bopd in mid 2013... have a read...slightly confusing but work out between eernl and eer nigeria, this is looking like one hell of a deal for our small aim company... http://www.thisdaylive.com/articles/safrican-firm-acquires-stake-in-nigerian-oil-block/72070/ S'African Firm Acquires Stake in Nigerian Oil Block By Ejiofor Alike 14 Dec 2010 Font Size: a / A South Africa's SacOil has acquired 20 per cent stake in Oil Prospecting License (OPL) 233, a Nigerian oil and gas field, where first production is expected in 2013. The board of SacOil, which announced this acquisition in a statement last weekend, stated that the joint venture between SacOil and Energy Equity Resources Limited (EER) had concluded its first near production deal. According to the statement, the company's joint venture partner Equity Energy Resources acquired an additional 20 per cent stake in OPL233 field, while the remaining 60 per cent is held by Nigdel United Oil Company Limited. The statement added that the JV will pay $8 million for its combined share of 40 per cent and also carry all cost until the first oil production, estimated at $50 million production is expected to commence at the middle of 2013 at a potential rate of 10,000 barrels of oil per day. By the terms of the acquisition, the Joint Venture will receive an inflated economic interest allowing the recovery of exploration costs until 100 million barrels of cumulative crude oil production. The terms also stipulates that as its entry cost, the Joint Venture will pay a farm-in fee of $8.0 million and carry the recoverable cost commitment to fund the minimum work programme. This agreement is the first significant oil and gas deal entered into by the Joint Venture. SacOil recently signed a farm-in agreement with Nigdel United Oil Company Limited (NIGDEL) to acquire a 20 per cent working interest in the OPL233 licence located immediately off the coast of the central delta region and adjacent to the giant Apoi field . SacOil's Nigerian partner, EER 233 Nigeria Limited, a wholly owned Nigerian subsidiary of EER, has also farmed into an additional 20 per cent of the OPL233 licence, with NIGDEL retaining the remaining 60 per cent. SacOil's interest will be held directly through a wholly owned Nigerian subsidiary. SacOil and EER's collective 40 per cent interest is referred to as the Acquisition. OPL 233 was awarded to NIGDEL during the Federal Government of Nigeria bid round in 2006 and a Production Sharing Contract was executed with Nigerian National Petroleum Corporation on the 7th May 2007 with an exploration period of 5 years.

Timeline Activity >> 2004 April Block 1 JDZ(1) awarded to DEER August EER Founded >> 2005 February Block 1 JDZ PSC signed March Block 1 JDZ Asset deal with Afren June Block 3 JDZ awarded >> 2006 March Block 3 JDZ PSC signed April US$ 30.5 million raised in private placement August Farm-in Agreement signed on Ajapa and Aje fields September Farm-in Agreement signed on OML115 December Additional interest secured on Ajapa and Aje fields >> 2007 January Acquisition of Syntroleum Nigeria Ltd June AEER formed September New farm-in Agreement signed for Aje Field November Company re-structured, Osamede Okhomina becomes CEO >> 2008 February Ajapa appraisal programme begins, Aje 4 well spudded March AEER Financing Deal worth US$45 million and EER Financial deal worth US$31 million April Ajapa Appraisal programme completed, Aje 4 well completed June MOU with Vitol signed August Okwok South 2 (OML115) exploration well drilled December MOU between EER and RWE for LNG signed >> 2009 January MOU with Delta State Government signed March JV Agreement between EER and Delta State Oil Company (DTSOC) signed April MOU and Sale Purchase Agreement (SPA) with Vitol signed June Divestment of Block 3 JDZ, Aje Field and Ajapa Field June Contract with Super Major IOC signed December MOU signed with Société Nationale d'Opérations Pétrolières Côte d'Ivoire (Petroci Holding) >> 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