ERHE
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Posted by: midtieroil Date: Saturday, July 12, 2008 7:52:59 PM
In reply to: None Post # of 134707
Long time reader
And an ever longer term ERHE shareholder. For some unkown reason I decided I would start posting now. My small brain can only handle one topic at a time so I want to lay out my thoughts on the investigations. To quote Shakespeare these investigations seem to be MUCH ADO ABOUT NOTHING.
After years of investigation ERHE attorneys say they are "inactive". I believe them and think nothing will ever come of them. Whether these investigations started out from the STP AG, Big Oil or from Jefferson seems irrelevant at this point. None of these investigative bodies has the ability to rescind ERHE's rights in the JDZ so who cares? Some may worry about a fine but I don't. I have always found fines in these instances to be more about ability to pay than about anything else. If Exxon was going to be fined $50 million for some transgression, ERHE might be fined $5 million or less for the same wrongdoing. It might sting a little but they are not going to impose a fine that affects a company's ability to compete or could threaten to put them out of business.
The Homeland security investigation is a joke as most congressional inquiries are.
The SEC is normally satisfied as long as you correct the problems and they don't reoccur. ERHE obviously had some reporting shortcomings and, as an investor, I'm glad the SEC became involved and corrected those problems. With Offor gone and the reporting on track I see no further problems with the SEC.
The IRS "investigation" is just a routine audit because ERHE used an NOL carryover to offset the profit from the "sale" of their JDZ interest to obtain their carries. This is a routine audit and has nothing at all to do with the other investigations. Every company that uses NOLS to offset income WILL get audited. It's automatic and since ERHE has a large NOL carryover remaining there is nothing here to be concerned about.
As far as the DOJ audit goes, it's inactive and the fine, if not zero, will do nothing to damage ERHE's ability to compete.
So, like I said, this is MUCH ADO ABOUT NOTHING. That Shakespeare play was a comedy and those that think these investigations are going to go anywhere are comedians. They obvioulsy have an ulterior motive and want to bring it up over and over and over again. Unlike some others here, I would prefer to ignore them than continue to debate a dead issue. That is what they want you to do. This will be my final word on the investigations and I really hope everyone else will follow suit. Let them talk about it to themselves because I no longer care and neither should anyone else.
