ERHC Energy Inc (ERHE)

[RKT989]

1

[RKT989]

"block 4 has "source oil" from which flows the oil into the other blocks."

I don't know ALL that that means ..but I think is BIGGER than anyone realizes

Block 4 may be able to control the Flow of oil or maybe more important the NON FLOWING OF OIL to the other blocks.The silence of information is Deafening.
As Kosmos alluded to Block 4 is the crown jewel of the EEZ

OFFOR is not going to let this slide by...He has more than enough money to tie this up indefinitely and as Kingpin alluded to "Gum up the works"
The worst nightmare of SAO TOME and the other Companies involved
a deal is either in the works or already done You all can count on it
I think selling and swapping assets and buying are all going on. To have one Company make an .announcement could lead to insider trading.It IMO going to be a statement by the Sao Tomeans Oil/Mineral Ministry

[nwtf]

Its all a wish list again not based on actual facts. IOW nothing more than bullshit.

[emdyal]

: Every penny is $25 million dollars that ERHC has to show as profit or anticipated profit..
:
You seriously discount the exuberance of the ,market !!!!

[ssc]

Hmmmmm. Let's see, doesn't seem to take a rocket scientist or a psychiatrist - the definition of a delusional person:

A delusional person believes things that couldn't possibly be true. If you're convinced that the microwave is attempting to control your thoughts, you are, sadly, delusional. Delusional comes from a Latin word meaning "deceiving." So delusional thinking is kind of like deceiving yourself by believing outrageous things.

So believing that billions of erhe shares were shorted at $.0003 or lower and held for 5 years without being able to provide any proof or truth to support that belief OR

Claiming a libel suit was filed by erhc and could be found on the Harris County website when clearly there was no such suit or information on that website OR

Insisting an "African Queen" was going to buy erhe shares, paying up to $1/share and an epic, "Game Stop like" short squeeze would follow taking erhe to $8/share while the stark reality shows erhe remained near zero with near zero volume and no "African Queen" buying ever happened OR

Drawing a sketch of a head and believing it was erhe's largest short seller even though it was not a real person OR

Continuing to claim erhe will make you a billionaire as a short squeeze takes place that causes financial markets to crash even though, again, unable to provide proof any erhe short positions exist at all.

Now who just happens to fit the bill of a delusional person to a T? And who has been repeating those and many other such baseless claims, false rumors and outright lies for years and years? To put a twist on an old saying, if the dickran fits ... Regarding defamation, every definition I have seen starts with something false being said or written. Since all the examples listed above are true (as hard as that might be to believe), calling them delusional is quite accurate and might be the nicest way of describing them.

To avoid any confusion, an excellent example of defamation would be falsely stating that someone was slapped with a cease and desist order or letter while knowing full well that no such action ever happened. Now who would perpetrate such a dastardly deed? Once again, if the dickran fits...

[Krombacher]

According to xrimlinger.com, the adjacent block 3 is equivalent to 20 cents a share of ERHC. According to Kosmos litigation block 4 it's worth 17 cents a share.

That's before oil prices rose and before we discovered that block 4 has "source oil" from which flows the oil into the other blocks.

You're probably looking at north of 20 cents just for that block from Shell. They can EASILY do a dividend of a penny or two from 20 cents and that alone could result in a short squeeze into the dollars.

But the real money is the JDZ, which Oranto equivalently values at 80 cents a share for its 100% block in the JDZ which is equivalent to five 20% blocks that ERHC has.

I think Shell will buy block 4 and Total will buy the JDZ properties. That's why I prefer there to be one announcement for both Shell and Total simultaneously to achieve maximum damage to the short sellers.

Nothing delusional in the above assumptions and facts.

Krombacher

[badog]

I have a degree in psychology but I don't really care if you are delusional or not. You are entitled to think whatever you want...even if you can't back it up. I remember once when you called me out for using the word 'I' to many times in my post. LOL. I thought that was odd but it didn't really matter. I'm confident in what I believe.

Again, I will wait for my big payday but I am not holding my breath. If ERHC gets some kind of deal I figure I'll be lucky to get .01 or .02 / share. I mean there are a lot of shares outstanding. Every penny is $25 million dollars that ERHC has to show as profit or anticipated profit....not based on zillions of barrels of oil like people thought with the JDZ blocks. And it can't be pie in the sky accounting. Hell...most
of any revenues could be disposed of by management for things that don't benefit shareholders. They do what they want and disregard your desires.

If there were ever a payday I will not wait for your OK to cash in...as I would guess that others will not either. But IMHO It's still highly doubtful that there will be any cashing in. ERHC does not seem in a good position. They could end up with nothing. And still no one can show any proof of any shorts. That's what seems delusional to me. Short squeeze???? Not if there are no shorts.

Badog

[badog]

How many shorts are there? Not your assumption....show me actual facts that back you up?
Badog

[Krombacher]

Neither you nor ssc have a psychiatric background to diagnose whether I have delusions or diagnose pathological lying.

Hence it's defamation.

If shorts still have any money after this, I will pursue them in court for defamation.

Krombacher

[emdyal]

Hey bear dung - ding The shorts can hardly cover when there are no sellers. Duh

[nwtf]

Still living in delusion I see.

[Krombacher]

I think short sellers are living in the past and gaining false comfort from the share price.

That's normal behavior though due to the loss aversion they're experiencing.

But they will lose everything.

Krombacher

[badog]

Just out of curiosity....did anyone ever know Oilphant...or whether he is still around?
His posts kept a lot of people guessing
Badog

[nwtf]

More bullshit.

[ssc]

How is your next new narrative coming along? I mean the one you will deceitfully spew out after the September 2024 deadline comes and goes? Will you attempt to recycle the African Queen nonsense? Or maybe back to the Total dollars/share buyout "done deal"? When there is no Shell bidding war, no erhe dividends, nothing to move the share price away from near zero, what next? Maybe sketched heads of you and the "other dickran" assuring each other that share price just doesn't matter? lmao at dickran's pathetic and embarrassing greed and hubris driven delusions.

[BearRickPunch]

There aren't any shorts on a .0001 pps grey market stock. No matter how you put it or how you try to tell anyone who will listen to your bullshit, there isn't any shorters on a scam pump and dump penny ticker.

BTW, STILL .0001 pps.

Don't be mad bro. Just be happy that nobody is buying your stinkweed.

[Krombacher]

Dude, look at the volume!

No one is selling so the shorts aren't covering.

Shorts need to work way harder at trying to bullshit about tax loss selling (in May!?!?) because even in the last week of December at a price of $.000001 when tax loss selling would've produced the greatest tax loss, volume was still ZERO.

WHAT ARE THE SHORTS GOING TO DO?!?!?!

I guess you should go hard at work at placing clown emojis on posts... maybe that will work?

Or... wait for the short sellers' financial demise.

Muhahahahaha

Krombacher

[BearRickPunch]

Dude. Look at the price. Just saying.

[emdyal]

I see that the Shorties have gotten out of their cages again ! It is going to be soooo entertaining
when the smoke begins streaming out of their butt holes .

[nwtf]

Again you are on point.

[ssc]

Delusional liar guerguerian dickran just can't restrain his/her desperate, demented bullshit. Now we see dickran's latest new narrative -

But I think we will likely have at least the Shell deal announced before then... followed by a Total deal.

To be clear, "before then" means before September 2024 deadline. "But I think" means he/she knows this is just another piece of nonsense that will be proven wrong in a few months. Prior dickran bullshit calls for a "Shell bidding war" and an erhe dividend and yet erhe share price remains near zero

Of course, everyone knows dickran is already working on a future new narrative to replace this latest one after it falls flat as all his/her other predictions over the last decade or more have done. Just another example to show dickran's greed and hubris driven delusions truly know no bounds.

[nwtf]

Everything in your post is a wish list. Not based on fact.

[nwtf]

The word it Moot.

[Krombacher]

If there's been an extension granted as I believe is the case...

Then there's no point to a count down, except, I guess if ERHC still exists on the deadline, then it means that there's been an extension. But I think we will likely have at least the Shell deal announced before then... followed by a Total deal. And if management does this intelligently, they'll announce both simultaneously.

Krombacher

[kingpindg]

Five...

[kingpindg]

How do you know that the assignment agreement does not officially bind Total to ever perform work on a block to prove that block is "in production" better than a PSC when over half the agreement is redacted?

Because only STP can authorize work on a block in their EEZ and they do that through a Production Sharing Contract. This is why "execution and entry into full force and effect of a PSC in respect of Block 4..." was a condition for completion of the Assignment Agreement.

Do you even have a working definition of "in production" to qualify either the PSC or the assignment agreement as meeting the criteria for "in production"?

No, I don't. That is why we are having this discussion. Originally, I thought that "in production" meant the block had to be producing oil. Then you said something (can't remember what now) that made me think that having a PSC on the block could be good enough.

I will offer up that the STP/ERHC Agreement, while not specifically defining "production" does say, "Any words terms or phrases used herein shall be interpreted m accordance with their generally accepted use by the international petroleum industry". Unfortunately, getting a precise definition of "production" proves difficult because (via Google search) some definitions include exploration as part of production, while most seem to want to differentiate between the two phases. However, I did not see one definition that said production begins when two companies enter into an assignment agreement.

I do agree that it is difficult to make any sense of what is happening with Block 4, which is why we can only speculate as to what is going on.

Oh, and I almost forgot...


.

[Gifton]

The only one I would like to hear from now is our CEO. We should have complete silence until then. These arguments are now mute. The only post that will matter on this board is one from the company.

[RKT989]

It is the only explanation for the events that unfolded in the last two years...Lots of OIL Lots of money...Lots of gamesmanship being worked around the JDZ and EEZ from Govts to Companies

[Krombacher]

How do you know that the assignment agreement does not officially bind Total to ever perform work on a block to prove that block is "in production" better than a PSC when over half the agreement is redacted?

Do you even have a working definition of "in production" to qualify either the PSC or the assignment agreement as meeting the criteria for "in production"?

What makes no sense is that STP didn't wait until Sept to pick up the block without the fuss of an international caveat emptor if there were no extension. Hence, it's logical that there is an extension. Whether ERHC got it with the assignment agreement, a stealth PSC, or some other means, logic dictates they got it.

Krombacher

[nwtf]

You could off set other capital gains. But I would talk to a broker and tax man on what you do with shares that you have taken a loss and is considered worthless.

Also its my understanding that you can sell them but you cant buy them. How that happens is a question.

[iwondertoo]

I was assuming that come the end of the year one may have gains that you want to offset with losses. Can't imagine anyone could sell this for the gain part.......unless, of course, they were part of the debt squad that got quite a deal. Even then, this is difficult to sell, period

[nwtf]

Actually according to the IRS you can claim the loss as soon as you deem the issue worthless which is usually sub penny. So I am sure over the last 5 years this has occurred alot. Of course you can only claim as much as you have gains. But can carry forward the rest.

[nwtf]

What a scammer. Holy buckets just when I think you cant get any lower you do it. Wow huge bullshit.

[kingpindg]

The discussion was about completion (or lack thereof), not termination. I never said that I assumed the agreement was terminated.

And how can an assignment agreement with another company, no matter how qualified, that does not officially bind said company to ever perform any work on a block prove that block is “in production” better than a Production Sharing Contract? That just does not make sense.

Fun scenario, and I do agree with your last statement.


.

[kingpindg]

ERHC never got an extension on Block 11 because they never requested one. They sold out to Kosmos long before any extension would have been needed.

When Oranto was designated as Operator for Block 3 in a PSC did they get an extension? Apparently, yes, since they completed Phase I in 2015 and only had two years under the PSC to complete Phase II. To get from 2017 to November of 2023 they had to have been granted at least one extension. And since it is doubtful they were given one six year extension, they were likely granted more than one.

So the assumption that Oranto needs to have a “qualified operator” signed on to participate in Block 3 in order to get an extension is not supported by the evidence.



.

[ssc]

And bingo, there you have it. A classic delusional, desperate dickran temper tantrum complete with 13 steps of nonsense followed by more gag order and erhe short seller bullshit. But still erhe sits near zero with no buyout, no bidding war, no short squeeze, no dividend. Apparently all designed to support the newest twisted narrative with dickran now saying the September 2024 deadline doesn't matter and stuck longs should hold on for a few more short years lmao. dickran's greed and hubris driven deceit truly knows no bounds.

[BearRickPunch]

Well you're going to be waiting for another 100 years since this piece of shit scam isn't going anywhere. It's a scam and anyone who still is in it, is operating on false hope or is blind to what the facts are about this ticker.

[iwondertoo]

Well, you have this going for you to encourage people to not sell. It's pretty much impossible and not worth doing. Why not hold at this point? LOL The next time it will be potentially worth selling will be going into tax loss selling time, or if someone life ends and those who inherit are cleaning up the books.

On the other hand, if for some reason someone is willing to pay anywhere close to a tenth of a penny per share, I would imagine sellers would come out of the woodwork.....most likely yourself, included. I, on the other hand, will not a seller nor a buyer be. The management has taught me well over the years

[Krombacher]

I've been waiting 18 years.

It takes that long to become a billionaire.

But, you won't become one if you throw in the towel because you broke down in the home stretch.

Yes, ERHC has been quiet... but for good reason, a gag order.

And thank goodness for that gag order... thanks to it, shorts assumed the worst and sold us all very cheap shares.

Krombacher

[Krombacher]

In your own quote it says that if any condition is not met then any party may terminate but it doesn't say that the agreement is terminated automatically.

In other words, any party to the agreement has the option to terminate if a condition is not met, but that doesn't mean they necessarily will terminate it.

So, I would not conclude that the agreement is "incomplete" if a condition isn't met. I would only conclude that the possibility exists that the contract can be terminated if one of the parties wants to terminate it, if a condition is not met.

But let's say your assumption is correct and the contract was terminated after ERHC presented the assignment agreement to STP and got its extension because it proved it signed on a credible operator with this contract and that was enough to prove they're "in production" better than a PSC of self declared / self designated operators can.

So the sequence of events in this hypothetical scenario would go like this:

Step 1 - assignment agreement is signed with Total and presented to STP for extension

Step 2 - extension is granted

Step 3 - some conditions in the agreement are not met

Step 4 - Total elects to terminate the contract even though it doesn't have to

Step 5 - ERHC has no operator so STP is upset and ERHC doesn't pay taxes on Block 11, further annoying STP.

Step 6 - STP can't wait until end of Sept when the block would otherwise expire because it already granted ERHC its extension.

Step 7 - so STP starts a bidding process on block 4

Step 8 - ERHC issues an international caveat emptor causing the bidding process to fail

Step 9 - STP gets smart and decides instead to invite Shell into a PSC

Step 10 - Shell and ERHC cut a deal brokered by STP as the middle man

Step 11 - Total still wants the JDZ assets

Step 12 - With the block 4 issue resolved, Total moves forward on the JDZ assets

Step 13 - ERHC shorts are screwed.

The above is hypothetical.

Krombacher

[Krombacher]

Oranto was "designated" by whom? By Oranto. So that's the same as declaring themselves operator... so you're splitting hairs.

When ERHC was "designated" as operator for block 11 in a PSC did they get a license extension? Nope.

When Oranto was "designated" as operator for block 3 in a PSC did they get an extension? Nope... not until last November.

So your assumption that you need to be designated as an operator on a block to get an extension is false and maybe that's the reason ERHC didn't do it for block 4.

Krombacher

[Nightdaytrader]

The problem is that we get zero information from erhc’s mgmt.. so you want us to wait to sell? I’ve been waiting ~ 20 yrs.

Nd9

[ssc]

Nice work reporting the facts and exposing yet another delusional dickran narrative. Now get ready for a full-fledged dickran temper tantrum as we all know how much he/she hates to be proven wrong (although dickran should be used to it by now as it happens on an almost weekly basis). Regardless of how many versions of his/her desperate, deceitful claims of dollars/share buyout, bidding wars, short squeeze or erhe dividends dickran spews out, at the end of each day the erhe share price near zero is the indisputable fact that just doesn't go away.

[nwtf]

BOOM

[nwtf]

And I always thought that to be the operator one had to have the technical expertise and equipment to do so.

[nwtf]

Wow HUGE bullshit. How do you do this day in and day out? Again WOW

[kingpindg]

Section 4.1 of the ERHC/Total Assignment Agreement reads...

4.1 Condition Precedent

Completion is subject to the fulfilment (or, where permitted, waiver) of the following conditions (“Conditions”):

(a) receipt of all requisite written approvals and consents from the Competent Authority of the Deed of Assignment;

(b) notification by Assignee that it has obtained the authorisation of Total SA (I) on the transfer of the Transferred Interests under the terms and conditions of this Agreement, and (ii) to become a party to the PSC for Block 4; and

(c) execution and entry into full force and effect of a PSC in respect of Block 4 either:

(i) between (i) Assignor (or Assignee in cased Assignor has assigned and transferred remaining rights and interests in Block 4 to Assignee pursuant to Clause 4.7), (ii) Assignee and (iii) DRSTP represented by ANP-STP; or

(ii) in the case of the Farm-In Alternative between (I) Assignor and (ii) DRSPT represented by ANP-STP.

In the event that a Condition precedent is not satisfied or waived by the Longstop Date, any Party shall have the right to terminate this Agreement in accordance with Clause 4.8 at any time by written notice to the other Party. By mutual agreement of the Parties in writing the Longstop Date may be extended for another period to be agreed by the Parties.


Discussion:

Condition (a): something confirming that this condition was met would likely only be included as part of a SEC filing, as Kosmos did with Block 11 (see below). As we know, ERHC is not filing and Total has filed nothing related to EEZ Block 4. Additionally, there is no evidence that any interest in Block 4 has ever been transferred to Total. Conclusion: condition (a) has not been met.

https://www.sec.gov/Archives/edgar/data/1509991/000155837016005628/kos-20160331ex101065573.htm


Condition (b): a document of this nature would likely not be made available for public viewing. Conclusion: neutral.

Condition (c): the only official mention of a PSC for Block 4 is the ANP-STP invitation to Shell to negotiate such a PSC. If ERHC/Total/STP had executed a full force and effect PSC for Block 4 then STP would have had no reason to run their bid process on Block 4. Conclusion: condition (c) has not been met.

So, with two out of three conditions being unmet (although it would only take one), it is my conclusion that the Assignment Agreement has not been completed.

I welcome any evidence to the contrary.


.

[BearRickPunch]

Nigerian, Malaysian, Indian, South African, etc....

Doesn't matter where, nobody believes that a ticker that has been delisted to the "grey" markets from a company set up in Nigeria where they can't even verify information, that this is at any point legitimate.

They don't believe YOU most of all because you're just a blowing wind up everyone's butts. The price is still .0001 and it's not going anywhere. The scam is burnt.

[kingpindg]

Oranto did not declare themselves the operator on the block, they were designated as the Operator in a contractual agreement between themselves and STP. And they were a perfectly capable operator in getting Phase I accomplished. And I could be wrong about their reasons for going to xrimlinger. Maybe they feel they could be the technical operator but they just want to share the financial risk of drilling a deep water well.

Why didn't ERHC think of that? Maybe they did. After all, they were designated as the Operator on the Block 11 PSC (see below). Maybe ERHC wanted to enter into a PSC for Block 4 but STP refused until they paid their taxes due on Block 11.

28.1

ERHC ENERGY EEZ, LDA is hereby designated as the Operator under this Contract to execute, for and on behalf of the Contractor, all Petroleum Operations in the Contract Area pursuant to and in accordance with this Contract and the Petroleum Law.

https://www.resourcecontracts.org/contract/ocds-591adf-3122094392/view#/search/operator


As to the conditions to completion of the ERHC/Total Assignment Agreement. I will try to address them if I get time later today.


.

[badog]

I read what you wrote but I discounted that anyone could convince ERHC to do anything.
What have you convinced ERHC to do in all the years you have been here?
Did someone convince ERHC to dilute this into a nothing sp?
Did someone convince ERHC to balloon this to 2.5 billion shares?
Did someone convince ERHC into the reverse split?
Did someone convince ERHC to quit having communications with investors? Or to quit publishing financials?
Does anyone even answer the phone at ERHC?
Badog