Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
0 shorts. Won't happen.
Well over 300k$ just in the last 3 years, not counting the new money he has been raising for his imaginary friend in 2024 ….another 10k or so
So cool how Karma always catches up with the likes of dickran. 20 years ago dickran suffered another total loss on an internet gaming stock. To lick their wounds, those who also lost it all on that stock created (surprise, surprise) a private chat room that dickran happily participated in and which I secretly infiltrated since I was not invited to join. You see I was one of the people advising to stay away from that gaming stock and they didn't want me anywhere near their private room. Somewhere along the way, dickran heard about erhc and came to ihub when erhc had tons of cash and unexplored assets. As erhc investors argued about a rumored $3 takeover being far too low (erhe was around 30 cents at the time) despicable dickran decided to dump fuel on the fire and antagonize erhe posters. Then he would go back to the private chat room and brag about how he could so easily make fools out of the erhe crowd as their stock was going no where.
But here's the irony. Somewhere along the way, dickran started to believe erhc was a billionaire maker. He/she got sucked in by his/her own greed and hubris filled lies and bought heavily all the way down from split adjusted erhe $100/share. When drilling found nothing commercial and erhc management ran out of cash and created the toxic debt fiasco, dickran was too far down the rabbit hole to get out. Instead we saw all the baseless claims, false rumors and outright lies about the reverse split, the transfer agent, no more toxic debt, buy of a lifetime, dilution insurance and on and on all the way to done deal buyouts, epic $8/share short squeezes, African buyers and now, as we have learned, scamming his own "loyal" spv followers.
Now stuck with 400 million worthless shares and followers stuck with over 1 billion, the lying, deception and deceit apparently gets even darker. How much money have unsuspecting people lost by believing dickran's bull? So pathetic, so despicable.
Worse than being delisted to the grey markets from the OTC and not actually being a legitimate company with a pps of .000000000000000001?
Yes, directly from the bullshit source, and he knows it, don’t you find it abnormally strange that he is awfully quiet HERE this morning ?
I can also confirm that he is really freaking out on other private chat for having been exposed like that….
I don't know any secrets. Sao Tome announced that ERHC had lost block 4 to Shell the beginning of this year.
In Post No. 362455, Krombacher states "Erhc clearly claims its rights in Block 4 with the caveat emptor... you think a reputable company like Shell would just take the block without paying its dues to ERHC? You think Sao Tome can confiscate a block with no remuneration to ERHC? SHAME ON YOU!"
So what is Peter to do with this money? The same as he has done before - looking for oil in weird African places that will keep him amused and not benefit stockholders.
Not agreeing or disagreeing, at the moment. Just looking for more information. Two sides to every story, and all that.
The fact that oldoil appears to have flipped does seem to give it credence, however.
.
so, you agree with his post. If it's true, that is so evil and sad. I do tend to believe him/her, and think it's probably a disillusioned ex-follower. Or, someone who listened to a friend who is involved. Sounds too realistic.
Hmmm…interesting. May I ask the source of your information? Are you a mole who has infiltrated the Circle?
Sadly this type of scamming has continually gone on since the failed drilling in the JDZ. And even sadder is that this probably won't be the last scam regarding ERHC...and there will continue to be those that fall for the newest scams as long as they are convinced of massive riches.
And we will always be too dumb to take advantage of the potential fortunes available.
LOL
Badog
Thanks for the peek inside guerguerian dickran's despicable dealings regarding his fake SPV. I knew there were reasons for dickran's sudden emphasis on adding disclaimers to his lies. Now we see why he/she sudddenly started adding statements like "not based in reality", "only speculation", and "erhe could go to zero" in a lame attempt to cover his/her ass. Sorry but that's not going to work after years and years of thousands of baseless claims, false rumors and outright lies. This latest inside info scam, if true, might be the last straw for all those gullible investors who followed dickran's "dilution insurance" advice.
Karma will have its way with dickran greed and hubris.
Sounds like Red from the old Elephant fields. One in the same???
Hey oldoil, what is sad about the fact that he can’t steal the group money
What is sad, is that he kept the airfare money, that he kept the 6000$ ( because gus only lives in his mind) and that now, he steals his group $100 at a time
What is even sader, are the people still sending him money to support his lies and hallucinations
Again, i wonder how the SEC would see the largest registerd ERHC shareholder to ask for money against insider info?
Sad how sometimes a need to control ends hurting long relationships and 70 held out to dry. Dickran put that group together and how is that going to bring a return??
Sadly Dickran can’t run off with our funds.
He has a unique financial relationship to we 70.
As old oil is correctly pointing out, Dickran created an imaginary friend that he first named Gus from nigeria, then added the title « doctor » and collected 6000$ from the remaining part of his supposedly 70 members of the spv that, as ssc correctly points out, was never in effect. Important note, not his money. He pretends he got insider info from the good doctor such as a merger between erhc and starcrest, a deal between erhc and shell for block 4 ( yes again!) and finally that erhc is now secretly involved in Kenya and Gabon…. He is selling this insider info against $100 as old oil correctly pointed out and has so far, got 18 of his followers to sign an NDA and a promise not to buy erhc until march….. because as we all know, it is totally normal to conclude many multi-billion dollar deals , merge with a company and not say a word to the sec, no 8k, nothing. But the good doctor from nigeria ( #notascammeraccordingtodickran) knows all that and told dickran against only 6000$. But the good doctor forgot to buy plenty of stock . Anybody know if it’s legal to sell insider info like Dickran is doing?
Quiet !!
Those are secrets you have to spend $100
To get the real poop !!!
You’re not supposed to know that !!??
I think the worst thing that can happen to ERHC now that they have lost Block 4 is for them to get some money from Shell and then have Peter go looking for other blocks/countries to invest in. He lost the Block 4 prize and has a proven history of wandering around until all the money is gone. And that would take another ten years back to where we were 20 years ago.
Was this in some back room of a Chinese restaurant? That seems legitimate.
I also did a study of what is truth vs. speculation. My study revealed that ERHE sp is .000001. What fraction of a dollar is that? One hundred thousandth of a dollar? Or less? I don't think I have ever seen a sp this small.
Truth is that out of the total investment community only a very few....who incidentally are STUCK with worthless shares and could only sell at a loss....would ever entertain the idea that ERHC is somewhere they would want to risk their money. All the speculation you can provide does not change the view of 99.999% of the investment community. This includes those who are close enough to the actual info (ERHC, Shell, Sao Tome, Total, Kosmos) or associated with those who have seen or heard info regarding block 4 thru friends or relatives, etc. There is always a leak somewhere. Yet no rush to own shares...even before it was delisted in the USA market.
I always look for compelling evidence of the current state of a company. In this case the sp is the only compelling evidence. No information is supplied by the company. Could something change. I suppose. In fact if the $8 sp from a short squeeze ever materialized so much the better for me. But at this point in time that looks like extreme speculation with nothing to back it up.
Badog
What's flawed is the fact that no one, including erhc's largest shareholder (you), has any idea how much has been paid to insider executives, consultants, or anyone else for over 5 years because erhc has chosen not to disclose any financials. Once again your "if's", "assuming's", and "speculation's" are based on nothing but the hopes and dreams of a largely stuck shareholder of a stock worth near zero. mba? cfa? cpa? Based on the track record of financial "speculations" exhibited over the last decade maybe retake the GED with fingers crossed to pass.
If we back calculate from the estimated $1.6 million of revenue needed to cover annual payroll and when we realize that PPP caps individual payroll reimbursement to $100k when annualized, that suggests that you need at least 16 employees, assuming they all made $100k and obviously many of them make less than that so we're estimating far in excess of 16 employees.
That means many employees don't have LinkedIn profiles or have their profiles hidden... and the number of employees at ERHC is greater than just 8 employees as depicted by LinkedIn.
The above of course is speculation but again as always is based on a fact pattern and with the use of logical reasoning and deduction clearly presented above.
Nevertheless, it's remarkable that not one of the 8 employees on LinkedIn bothered to update their profile to new employment given the short seller's narrative that the company is about to go broke as it potentially loses all of its assets. Clearly, therefore, the short seller narrative is flawed.
Krombacher
Uh Oh. Looks like violations of the gag order. Better get a court injunction against Linken In and call out the SEC / DOJ / State Courts and the Canadian Mounties on those scofflaw profiles exposing trade secrets and proprietary company info.
Top bad that PN spent his flight time to and from Africa watching the inflight movies rather then writing a paragraph or two to update shareholders.
Pathetic. You are the largest shareholder of the company, you control a group that owns more than 50% of erhe shares, and the only information you can dig up comes from linkedin, a switchboard operator, and gossip at a women's oil conference. Sad that you are forced to cling to years old, heavily redacted gag order and 400 page document. erhc has done an excellent job of keeping gullible, stuck investors in the dark as they do whatever they want with assets and any possible revenue. No surprise you resort to lies about short sellers, dollars/share done deal, epic short squeezes, and fake SPV. Quite logical and understandable erhe share price has remained near zero for over 5 years.
A LinkedIn search reveals 8 employees, but mind you that not everyone that works for ERHC, particularly in Nigeria or Sao Tome, will have a LinkedIn profile. I was only able to locate one Nigerian employee currently in an Africa office, an assistant manager in Nigeria, who works for ERHC.
Krombacher
Got a list of "But they're all still working for ERHC" employees you state are still employed by erhc? Or is that just "speculation"?
I can help you get started.
Employee #1 is the person who answers the phone, promises to forward questions to erhc management who will get back with answers but of course never do.
If you look at the LinkedIn profile of Michael Shafie, ERHC's geophysicist, you'll see that he left ERHC in 2012, back when ERHC was struggling with money and went to work for Shell International E&P for a year, and then came back to work for ERHC Energy, and obviously ERHC had the revenue to cover his payroll as we know from PPP funding. He's been working for ERHC to present day.
It makes logical and speculative sense that he would be on and possibly even head a speculative ERHC/Shell joint task force at ERHC's offices in Sao Tome for block 4 given that he was an "inside man" at Shell.
This relationship implies that ERHC and Shell are more likely "friendly" and not "adversarial" over block 4.
If ERHC were losing all of its assets by the end of the month, surely ERHC employees would've started looking for other jobs and updated their LinkedIn profile by now to reflect those new job positions. But they're all still working for ERHC... so I guess ERHC doesn't go bankrupt at the end of the month then, huh?
Krombacher
Nothing more than over winded bullshit.
Youve also said that if you believe what you said its not a lie. Thats funny coming from a proven liar.
I don't care how far you are underwater here. Good luck RKT.....you're going to need it.
Badog
Seriously, looking at years old erhc faq's that still reference Chad even though erhc had to bail out on Chad assets long ago? It's been years since erhc went dark. Website out of date, no financials, shareholders diluted and reverse split down to nothing. Try reality, while it might be painful it is also refreshing.
Look at dickran's latest for example:
"You dismiss my speculation because you believe it’s just bullshit"
For once he/she hits the nail on the head although it comes as no surprise since dickran has been wrong about erhc with thousands of baseless claims, false rumors and outright lies (thousands of them) for years and years. Need humor? Look at dickran's recent "movie casting" and obliteration of short sellers all over the world. Demented, delusional, desperate, deceitful, despicable dickran, it never ends.
Lots of back and forth bashing and trashing that serves no useful purpose here. Management has told shareholders nothing, as there is nothing available to share (yet). Might be helpful to revisit some of the public information ERHC management has provided in the frequently asked questions (FAQs). Some folks might find it useful to reflect and focus on some of the things they HAVE told us. For the interim though its been obvious for quite some time this is now a caveat emptor issue and that gray market expert stocks are difficult if not impossible to trade - some just like to keep repeating the obvious. I guess we just have to tolerate it until news of some sort becomes available.
FAQs
Interesting excerpt from link above:
"Q. Does ERHC have interested companies looking at our assets?
A number of interested companies are examining our assets and our plan is to monetize a portion of our Chad and EEZ assets to raise funds. We are in talks with prospective partners for the Chad Blocks, several of which have visited the data room where we are confidentially making available technical information about our assets. Additionally, several credible deepwater operators have visited the data room established jointly by the National Petroleum Agency of São Tomé and Príncipe and Petroleum Geo-Services (PGS) as a repository for the existing seismic and related technical data on the EEZ. When we have an agreement in place, we will notify shareholders."
And of course the cautionary statement section at the end of the FAQs has a LOT of cautionary statements regarding the FAQs, including this:
"A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other filings with the Securities and Exchange Commission. These factors include, among others, those relating to the Company’s ability to exploit its commercial interests in the JDZ and the Exclusive Economic Zone of São Tomé and Príncipe, general economic and business conditions, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on these statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based."
What I find interesting is that the FAQs say on one hand that management will notify shareholders when and agreement is in place, yet on the other hand the very last sentence of the cautionary statement section "expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any of the above statements is based" - statements which on their face are difficult to reconcile.
I feel a "patience young grasshopper" Kung Fu (ref -TV show) sort of quote coming in response.... ( Patience Grasshopper - Kung Fu show ) LOL 😜
You are in your own world. I have never gone there I guess.
Have you talked to PN lately in this world of yours?
Hope you are enjoying your delusions where everything is speculation. You can paint whatever picture you want.
LOL
Badog
I see.
So I take it then that you're going for the "humiliated short seller" movie role with mustache?
Am I hearing you correctly? I'm still casting, so you still have a chance at it. I would consider it because it might be the only saving income that keeps you from living under a Canadian bridge.
Who knows you might become famous from it.
Krombacher
Oh no no no.... I grasp the game you are playing. It's call 'I'm STUCK so lets see how many others I can convince to be STUCK with me'. Then when you realize that you could have gone to far and gambled too much you promote a short squeeze theory to get others to wait while you sell your hundreds of millions of shares (if there ever comes the opportunity to sell). Yea, I grasp the game.
I'll tell you what boys,
When all this comes to an end, and I become a billionaire, and the shorts lose everything and are humiliated in the courts as proven cowards as payback for 18 years of verbally abusing me, I am *considering* offering the shorts a role in the epic movie of ERHC's story that resulted in the permanent end to naked short selling and the iconoclastic destruction of Canadian institutions called "the rise of DICKran"
I do require, however, that the shorts grow out an evil looking "pornstache" type of mustache because that's how I envision them to look like.
Lol
Krombacher
Badog and SSC,
It seems you're not quite grasping the game I'm playing with you two.
You dismiss my speculation because you believe it’s just bullshit, and that’s largely due to your lack of confidence in my ability to read the tea leaves and accurately predict the future. Fair enough. But let’s flip the script for a moment: what if my speculation turns out to be true?
If you were short sellers, you’d find yourselves in a devastating position, kicking yourselves for not having orchestrated a premature short squeeze when there was still no backstop in place. Waiting for that backstop to materialize will only increase the pain for shorts when it finally hits. The longer you wait, the more overwhelming the consequences will be.
But I understand your hesitation. For you to be motivated to initiate a premature squeeze, if you were short sellers, you need certainty—some advance knowledge that my speculation will indeed become fact. And that’s where the real game begins.
If you knew my speculation was a guaranteed outcome, then where’s the challenge in that? There’s no courage in reacting only after the fact, when everything’s clear. That’s not how the market works; it rewards those with the guts to move before everyone else.
So ultimately, this is a test of your cowardice. Do you have the courage to act now, or will you wait until it's too late?
Come and play my game,
Krombacher
Alvaro Silva, Executive Director, ANP-STP, to speak at World Energies Summit
Is speaking at:
ANP-STP | São Tomé and Príncipe Poised for Exploration Success
Wednesday, October 2, 2024 2:00 PM to 2:15 PM
Álvaro Silva · ANP-STP
Jason Robinson · Independent
The Race is On: Emerging Oil & Gas Producers in a Warming World Panel
Wednesday, October 2, 2024 4:00 PM to 5:00 PM
Maggy Shino · Ministry of Mines and Energy, Namibia
Alejandro Stipanicic · ANCAP
Álvaro Silva · ANP-STP
Andrew Farrand · Horizon Engage
Gayle Meikle · Frontier
https://www.worldenergiessummit.com/speakers
Sorry, but your "logical deduction and induction" is based on pie in the sky, dollars/share, worn out bullshit and your endless claims about erhe short sellers are based on outright lies. Your threats of legal implications and financial ruin when you accuse me of being short erhe are as empty and baseless as your sketched headed short seller you created a fake Facebook account for and claim is erhe's largest short seller.
And where do you come off making a statement like this: "Given that Offor owns both companies" (erhc and Starcrest)? That is not speculation, it is stated as a fact. And it is a baseless claim with no reliable information to back it up, just like your billions of erhe shorted shares. In fact, the SEC data shows you as the only 10% or more shareholder. Of course you also lied about erhc doing a count of non-voting shares, didn't you?
When all else fails, you revert to the gag order even though you don't know what it says or if it is still in effect. None of this is logical, it's all just delusional, deceitful, desperate dickran bullshit. No gag order would prevent a public company from disclosing mergers, partnerships, revenues, compensation, board of directors changes for years and years as its shareholders are stuck holding worthless shares with no financial information about their investment and erhe shares are doomed to the Caveat Emptor list. To even suggest a gag order like that is not logical, it is asinine. Nothing personal, you just happen to lie about erhc all the time; thousands of times but still the share price remains near zero. Pathetic and despicable.
Link, please, to “the latest seismic surveys confirming the presence of "source oil."”
Thanks.
.
Let's do a hypothetical conversation between ERHC and PPP.
PPP: So how much revenue do you make? Please note that by revenue we mean funds from stuff you actually sell to customers. It cannot be a loan or other forms of capital.
ERHC: last year we made revenues of $ 100 million bazillion.
PPP: That's very interesting. And how much of the $ 100 million bazillion was used to cover your payroll and payroll related expenses?
ERHC: we used approximately $1.6 million annually to cover payroll and payroll related expenses.
PPP: very good, so if we take that figure and apply it to the "covered period", you get a sum of $X in the form of PPP funding. Nice doing business with you.
The above is hypothetical.
Krombacher
Of course, I speculate—there's no denying that. But my speculation is grounded in logical deduction and induction, pointing toward potential truths. When we analyze available information, my reasoning stems from tangible data, such as ERHC's assets, industry valuations, and the structure of government programs like PPP. On the other hand, your argument seems to rely heavily on personal attacks rather than engaging with the facts and logic that I present.
Let’s address the $1.6 million in revenue you referred to. This is the minimum threshold required to qualify for PPP funds, which are meant to cover payroll and other business essentials. If ERHC qualified for this amount, it logically follows that their total revenue must be significantly higher, as companies don’t use 100% of their revenue solely for payroll. The $1.6 million is just a baseline and suggests that ERHC’s revenues are far beyond that number.
Regarding the status of Block 4: You’re right that we don’t have definitive public information due to the gag order. But again, my speculation about the block's value is informed by past industry valuations, like Kosmos’ estimate of 17 cents per share and Oranto’s 20 cents for a neighboring block. This is logical deduction based on available evidence, not "wild speculation."
Your dismissal of these numbers and refusal to consider their significance is itself speculative, based only on skepticism, not logic. Also, when you question whether anyone ever paid these amounts, the fact remains: these valuations come from industry experts and stakeholders, which adds weight to them.
As for the gag order, it’s precisely because of its secrecy that the lack of information could imply undisclosed deals or developments. While you accuse me of being speculative, your skepticism ignores the possibility that ERHC might have pursued other ventures or mergers (e.g., Starcrest). My speculation is rooted in patterns and logical connections; yours seems to rely purely on dismissal.
In conclusion, yes, I speculate, but I do so based on logical inference and available data, while you rely on ad hominem attacks rather than addressing the underlying facts. If you're going to critique my reasoning, at least engage with the facts and logic I’m presenting instead of resorting to personal insults.
There are several logical reasons why a merger between ERHC and Starcrest could have occurred, and why the CEO of ERHC, as well as another board member of ERHC, are also board members of Elcrest, a joint venture between Starcrest and Eland. Here's the breakdown:
1. Shared Leadership Indicates Strategic Alignment: The fact that the CEO of ERHC and another board member of ERHC also sit on the board of Elcrest is a strong indicator of strategic alignment between the companies. It’s common in the corporate world for leadership to overlap when companies are pursuing partnerships, mergers, or joint ventures. In this case, the overlap suggests that ERHC and Starcrest could have significant shared interests, possibly leading to a merger or deep collaboration.
2. Mutual Ownership by Offor: Both ERHC and Starcrest are associated with Emeka Offor, and it's unlikely that two companies under the same ownership umbrella would operate in isolation. It’s logically consistent to assume that a merger or close cooperation between these entities would streamline operations and maximize efficiency, particularly if they’re both focused on similar goals within the oil and gas industry. A merger could help consolidate assets, reduce costs, and improve their market position.
3. Revenue and Operational Continuity: ERHC claimed $1.6 million in annual revenue to qualify for PPP funds, but without significant existing revenues on its books, this figure strongly suggests it could be pulling revenues from a related entity. Given the leadership and ownership ties to Starcrest, it’s logical to conclude that the revenue figure could be derived from joint operations, possibly via a merger or significant partnership with Starcrest, which would allow ERHC to access Starcrest’s revenues or assets.
4. Elcrest as a Joint Venture Between Starcrest and Eland: Elcrest, a joint venture between Starcrest and Eland, indicates that Starcrest is an active player in oil and gas operations. If ERHC were to merge with Starcrest, ERHC could gain access to Elcrest’s assets and operations, which would instantly increase its revenues, production capacity, and exploration opportunities. It would make business sense for ERHC to merge with Starcrest to tap into Elcrest’s operations and boost its overall value and market prospects.
5. MOU Between ERHC and Starcrest: ERHC previously announced a Memorandum of Understanding (MOU), and while the details of this agreement were not disclosed due to the gag order, the timing and nature of this announcement strongly suggest that ERHC and Starcrest could be working toward a merger. Given that Offor owns both companies, it’s highly likely that the MOU was intended to facilitate closer operational ties or even a full merger. This would enable ERHC to enhance its asset portfolio and revenue base significantly.
6. Maximizing Shareholder Value: A merger between ERHC and Starcrest would be a logical move to increase shareholder value for both companies. By combining their resources, they can consolidate their oil and gas assets, expand their exploration footprint, and streamline operations, ultimately making them more competitive in the industry. This would directly benefit ERHC shareholders, who are currently dealing with the uncertainty surrounding the company's future and Block 4.
In summary, the overlapping leadership, shared ownership under Offor, revenue implications, and existing joint ventures (Elcrest) all point toward a merger as a logical conclusion. The CEO’s role in both ERHC and Elcrest suggests that the companies are more integrated than they may appear on the surface, and this could explain the $1.6 million revenue figure as well as the strategic direction of ERHC.
Krombacher
The truth is that you have no idea what assets erhc still controls. Recent news points out the questionable status of block 4. Regarding $1.6 million in revenues, that is more dickran "speculation" about something from years ago. Even if true, after expenses what would that number be? $500,000? A loss? Even the total revenue figure equates to just $.0005/share. Quite a distance from dickran's $8/share "speculation".
You also don't know squat about the gag order. You have never seen its contents, and you don't know if it is still in effect. And you insist on repeating the meaningless numbers from Oranto and Xrimlinger. Did anyone ever pay that much? Were they talking about unexplored blocks owned by cash strapped company like erhc?
Then of course, as usual and ad nauseam, the classic dickran, without proof, sketched headed short seller lies. Add it all together and you get more desperate, deceitful, delusional, demented, despicable dickran "speculation", which in dickran's weird world of the new erhe paradigm means blatant, intentional lying. It never changes, just like erhe share price near zero.
While we're examining dickran's world of deceit, where is that non-voting share count you promised? lmao.
Badog's valuation of ERHC at half a penny could only come from the perspective of a short seller, consider the following:
1. Lack of Fundamental Justification: Badog's suggestion of half a penny doesn't align with the actual data surrounding ERHC’s assets and potential value. Kosmos valued Block 4 at 17 cents per share, and adjacent Block 3 is valued at 20 cents by Oranto and Xrimlinger.com. This shows that industry insiders believe the assets are worth significantly more, and this is before even factoring in the latest seismic surveys confirming the presence of "source oil."
2. Short Seller Incentives: For a short seller, a valuation at half a penny would be a low, artificially pessimistic price, designed to drive down investor sentiment and suppress the stock's price. Short sellers profit when the price declines, and by pushing a narrative that the stock is only worth half a penny, Badog might be attempting to keep the price low or even provoke panic selling.
3. Short Squeeze Fear: Prices "much above half a penny" could cause problems for short sellers, especially if there's a substantial rise in the stock price. This could lead to margin calls and force them to cover their positions, triggering a short squeeze. Badog could be downplaying the potential value of ERHC to avoid this scenario.
4. Selective Negativity: Badog's post focuses exclusively on the negatives, such as the cost of drilling and the risks involved, while ignoring the positive developments, such as potential block buyouts, ERHC's existing assets, or any undisclosed deals (e.g., a possible merger with Starcrest). This one-sided argument supports the idea that his motives align with those of a short seller who benefits from fear-mongering.
5. Undisclosed Developments: If ERHC has indeed merged with Starcrest or made significant moves under a gag order, Badog’s valuation ignores these possibilities entirely. The estimated $1.6 million annual revenue that ERHC filed for PPP funding also suggests ongoing operations, which conflicts with the idea that the company is worth just a fraction of a penny.
In conclusion, only someone with a vested interest in keeping the price low—like a short seller—would argue for such an implausibly low valuation of half a penny. The valuation ignores asset-backed estimates from credible industry players and potential undisclosed developments that could substantially increase the company’s value.
Lov it when you speak Canadian.................
He's desperate. He isn't selling shares anymore of this scam and not one single person believes him.
Followers
|
745
|
Posters
|
|
Posts (Today)
|
20
|
Posts (Total)
|
362611
|
Created
|
08/07/03
|
Type
|
Free
|
Moderators Tamtam ssc Homebrew BearRickPunch |
ERHC's common stock is traded on the OTC Grey Sheets (No Bid/Ask) under the symbol "ERHE."
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on exploration of its working interests in the Gulf of Guinea, off the coast of central West Africa. We are proud of our heritage of visionary leadership that was responsible for ERHC being among the first to identify the possibility of significant oil reserves in what was once an undeveloped oil region of the world. We continue to build upon that heritage by continuing to be willing to take chances and having the commitment to do the hard work necessary to realize the value of our assets.
Today, ERHC has interests in Blocks 2, 3, 4, 5, 6, and 9 in the offshore Joint Development Zone (JDZ) of Nigeria and the island nation of Sao Tome and Principe. The National Petroleum Agency of São Tomé & Príncipe (ANP-STP) on behalf of the Government of São Tomé and Principe has awarded ERHC Energy 100 percent working interests in Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ). In addition to the two Blocks already awarded, ERHC has rights to acquire up to a 15 percent paid working interest in two additional blocks of its choice in the EEZ.
The Company has signed participation agreements with subsidiaries of Addax Petroleum Inc. and Sinopec Corp. The operators of JDZ Blocks 2 (Sinopec), 3 (Anadarko) and 4 (Addax) have secured approval from the Joint Development Authority for drilling locations. Additionally, ERHC continues to pursue other potential oil and gas acquisitions, where feasible.
JDZ Block 2: 22.0%
JDZ Block 3: 10.0%
JDZ Block 4: 19.5%
JDZ Block 5: 15.0%
JDZ Block 6: 15.0%
JDZ Block 9: 20.0%
ERHC will be responsible for its proportionate share of exploration and exploitation costs in the EEZ blocks.
The São Tomé & Príncipe EEZ encompasses an area of approximately 160,000 square kilometers south and east of the Nigeria/São Tomé & Príncipe Joint Development Zone and surrounding the volcanic islands of Príncipe and São Tomé. Block 4 is situated directly east of the island of Principe. Block 11 is directly east of the island of Sao Tome.
Ocean water depths around the two islands exceed 5,000 feet, depths that have only become feasible for oil production over the past few years; however, oil and gas are produced in the neighboring countries of Nigeria, Equatorial Guinea, Gabon and Congo.
The African coast is less than 400 nautical miles offshore, which means the exclusive economic zones of the concerned countries overlap.
Operations in JDZ Block 2
ERHC's consortium partner Sinopec Corp. is the operator in JDZ Block 2. In August 2009, Sinopec commenced exploratory drilling of the Bomu-1 well, which was completed in early October 2009. The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 2 totaled 77 million barrels of oil and 93.9 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 2 totaled 38.3 million barrels of oil and 47.9 billion cubic feet of natural gas (P50).
Operations in JDZ Block 3
The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 3 totaled 27.3 million barrels of oil and 32.9 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 3 totaled 8.7 million barrels of oil and 10.5 billion cubic feet of natural gas (P50). The operator, Addax Petroleum, began drilling the Lemba-1 well in October 2009 and completed drilling in November 2009.
Operations in JDZ Block 4
ERHC's consortium partner Addax Petroleum is the operator of JDZ Block 4. In August 2009, Addax took possession of the Deepwater Pathfinder deepwater drill ship and started drilling the Kina prospect. The NSAI report estimated ERHC's unrisked prospective resources in JDZ Block 4 totaled 231.6 million barrels of oil and 245 billion cubic feet of natural gas (P50). The NSAI report estimated ERHC risked prospective resources in JDZ Block 4 totaled 88.4 million barrels of oil and 86.2 billion cubic feet of natural gas (P50). In 2009, Addax Petroleum drilled the Kina, Malanza-1 and Oki East wells.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2012 (from 10Q)
Weighted average number of shares of common shares outstanding | 738,933,854 |
Authorized shares: 950,000,000
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
ERHC Energy Milestones
In May 1997, ERHC entered into an exclusive joint venture with São Tomé & Príncipe. ERHC sought that agreement because it identified the possibility of significant reserves offshore of Sao Tome & Principe years before anyone else did and was willing to undertake the hard work necessary to realize the value of these assets.
All of the proceeds from these sales were received by the Company during the quarter ending March 31, 2006.
Block 11A encompasses 11,950.06 square kilometers or 2.95 million acres (click on map to enlarge). The Block is situated on Kenya's border with South Sudan to the north, Block 11B and Lake Turkana to the east and near Kenya's border with Uganda to the west.
-Link to the June 2009 Sao Tome and Principe AAPG (American Association of Petroleum Geologists) Conference slide presentation in Denver. It shows EEZ Block delineations and much more: http://www.internationalpavilion.com/ip_2005/Denver09_Talks/Presentation%20Sao%20Tome%20&%20Principe%20AAPGv3%20(2)_files/frame.htm
-The National Petroleum Agency of São Tomé & Príncipe (ANP-STP) on behalf of the Government of São Tomé and Principe has awarded ERHC Energy 100 percent working interests in Blocks 4 and 11 of the São Tomé & Príncipe Exclusive Economic Zone (EEZ). The ANP-STP has indicated that it expects to invite ERHC to negotiate Production Sharing Contracts (PSCs) on the two Blocks in due course. In addition to the two Blocks already awarded, ERHC has rights to acquire up to a 15 percent paid working interest in two additional blocks of its choice in the EEZ. The ANP-STP has informed the Company that selection of these other blocks will take place at a later date to be determined.
-Another great post on the EEZ can be found here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36450859
-Possible pre-salt oil deposits in the EEZ: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36565661 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36570193 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36596746 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36450859 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43260765
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Operators/ partners for Blocks 2,3 and 4
http://www.addaxpetroleum.com/home (Block 4)
http://www.addaxpetroleum.com/home(Block 3)
http://english.sinopec.com/ (Block 2)
Deepwater rigs
http://www.pacificdrilling.com/
http://www.fredolsen-energy.no/?aid=9048927
http://www.seadrill.com/
http://www.deepwater.com/fw/main/default.asp
http://www.saipem.eni.it/index.asp
http://www.deepwater.com/fw/main/Sedco-702-92C77.html?LayoutID=17
http://www.marinetraffic.com/ais/nl/shipdetails.aspx?MMSI=636014746
Deepwater rigs video's and animations
http://www.youtube.com/watch?v=Ii2zOZh41eA
http://www.deepwater.com/fw/main/Discoverer-Clear-Leader-Begins-Operations-410C1.html?LayoutID=6
Presentations
Growth Company Investor Show 2008 in London
http://www.youtube.com/watch?v=sgXCHO-Ot4E part 1
http://www.youtube.com/watch?v=OQm6SwY5ceo part 2
http://www.youtube.com/watch?v=aaam9Tyh4DE Q&A part
ERHC Web TV presentation to RedChip Conference
http://www.modavox.com/events/redchip/0608/room1.html
CEO Peter Ntephe Interview - on RedChip TV
http://www.modavox.com/events/redchip/0608/ceo_interviews.html
DD web sites
Facts about ERHC/ERHE: http://www.erhc.com/en/cms/?60
FAQ about ERHC/ERHE: http://www.erhc.com/en/cms/?56
http://www.anp-stp.gov.st/eng/
http://www.enercominc.com/
Track drillships marinetraffic.com/ais/default.aspx
http://www.erhc.com
http://finance.yahoo.com/q?s=erhe.ob
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000799235
http://www.otcbb.com/asp/Info_Center.asp
http://www.nigeriasaotomejda.com/
http://www.investorshub.com/boards/read_msg.asp?message_id=5721853
http://www.equatorialoil.com/pages/TechReview.html
http://www.nigeria-oil-gas.com/
http://www.sao-tome.com/englisch/index.htm
http://www.eia.doe.gov/emeu/cabs/nigeria.html
www.ods-petrodata.com/odsp/day_rate_index.php
Industry News
http://www.rigzone.com/news/
http://www.oil.com/
http://www.platts.com/
Articles
The New Yorker, 10/07/2002, OUR NEW BEST FRIEND, by JON LEE ANDERSON,post #3510
http://investorshub.advfn.com/boards/read_msg.asp?message_id=6512250
DAILY INDEPENDANT, Tuesday May 24th, 2005, The long wait for JDZ deal POST #3035
http://investorshub.advfn.com/boards/read_msg.asp?message_id=6479732
Area News & Newspapers
http://www.allAfrica.com
http://www.nigeriamasterweb.com/paperfrmes.html
http://www.nigeriamasterweb.com/newsfrmes.html
http://www.independentng.com
http://www.ngrguardiannews.com/
http://www.newswatchngr.com/
http://www.punchng.com
http://www.thisdayonline.com/
http://www.vanguardngr.com/
http://www.jornal.st/index.php
http://www.tekoilandgas.com/technology/glossary-of-terms
AKPO information
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48439213
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48446472
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
ERHE 8K 4-24-2017
http://archive.fast-edgar.com//20170424/AI22B22CZC228JGU22222Z32GOMFIC22Z292/
https://www.otcmarkets.com/stock/ETBI/overview
_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |