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Congratulations!!! I scanned the board earlier and saw that your name is no longer allowed. Hey, not much room for posting over there anyway with all the egos getting in the way.
How can people actually complain about management and communication over there, and at the same time claim to have been aboard for more than 5 years? Heck, it's better now than it ever was!!!!! Ah well - they obviously need someone to blame and something to whine about.
As one of the greatest posters ever on that board claimed - and I paraphrase - "date her, don't marry her".
Hope you are enjoying your freedom across the pond. Yes - kid in college now. Spent a ton of the fall following his budding college golfing career, which didn't go as well as planned!
I don't spend much time on these boards because of their obvious waste of time as the agendas are far more important than helping each other.
Take care.....
Not true.
To see any opinion backed by somewhat reasonable thoughts is enriching to many here.
I suppose we could go back to the promises of many that we will be sold before first drill bit hits the earth, or be stolen from us by our management at the ASM. Yeah, that worked well. Almost as well as the constant quotes of Oilphant to create the most probable scenarios.
How soon we forget.
Krom has an opinion. He's entitled to it. Everyone on the board has the ability to ignore posters.
I agree entirely.
Why would anyone want to be invested here?
Take care Rob if you move along - I can understand. It isn't worth trying to paddle upstream.
Istanbul? Sheesh!!!
Still holding some ERHE - more than I should, and less than I used to. Ah well - it will get pumped again in the fall.
I hope.
I still like the story, but less than I used to for sure.
Been spending lots of time away from these boards and enjoying my last summer with my son, who goes off to college in 6 weeks. It's gonna be lonely around here. Best kid God ever created - I have no idea how I got so lucky to have him be mine!
Take care..........
Pete, I believe it was Kansas that did your tune.
Thanks for sharing your thoughts, which I happen to agree a great amount with.
I hope you have a wonderful weekend. And everyone else too.
I'm not sure that it is fair to quickly claim the article as inaccurate. To quote or paraphrase our CEO and use his words to discount another's words seem a bit hypocritical of this board.
How long would it take to find hundreds - if not thousands - of posts on this board claiming our CEO is a liar?
Now suddenly we want to call something else written false because that same CEO said something different that the article?
ERHE's CEO has been branded a complete and total failure and liar here. It's pretty tough to selectively agree with his words and use them to refute another's words.
LOL!!
Thanks for posting and keeping it civil. A box of nice chocolates for you.....
Thanks for your service LC. I, for one, and maybe the only one, prefer a board to be on topic and remain that way. If I wanted to read about politics or sports or another board's posts, I would go to the appropriate board.
I wish all boards were run with the KEEP IT ON TOPIC approach.
Best of luck to you.......
I agree entirely that opinions posted on this board will not make a difference in the success or failure of the company.
The ultimate decision on success comes from the ability to harvest any resources that exist under the seabed.
One of many broken records played on this board daily.
"I think the biggest "doubt team" out there is our managment.
They are the ones that provide the fodder for anyone who wants to do that. And I wasn't that impressed with the update. Sounded like a broken record to me, to me, to me, to me, to me............"
Your explanation is here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50319259
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=3367005
On December 21, 2004, Environmental Remediation Holding Corporation ("ERHC") finalized a restructure of ERHC's current debt (the "Restructure"). Pursuant to the Restructure, ERHC entered into a Letter Agreement, dated November 29, 2004, with Chrome Energy, LLC, an affiliated entity ("Chrome") to restructure all of ERHC's current debt with Chrome (the "Letter Agreement"). Prior to the Restructure, ERHC had six (6) outstanding notes in favor of Chrome:
(i) Senior Secured 10.00% Exchangeable Promissory Note Due February 15, 2005, with a principal amount as of November 18, 2004 of $4,299,460.92; (ii) Senior Secured 10.00% Exchangeable Promissory Note, dated as of February 15, 2001, with a principal amount of $1,800,000; (iii) Senior Secured 8.00% Exchangeable Promissory Note, dated February 15, 2001, with a principal amount of $2,000,000;
(iv) Amended and Restated Convertible Note, dated as of January 31, 2001, with a principal amount of $804,312.50; (v) Amended and Restated Convertible Note, dated as of January 31, 2001, with a principal amount of $6331.666.67; and (vi) Note, dated as of February 15, 2001, with a principal amount of $403,643.85 (collectively, the "Old Notes").
Pursuant to the Restructure, the Old Notes were cancelled in full in exchange for a new 12% note, dated as of December 15, 2004, with an original principal amount of $10,134,084, convertible at the sole discretion of ERHC at $0.175 per share, and expiring on January 31, 2007 (the "Exchange Note"). The entire original principal of the note is due on January 31, 2007, with annual interest payments due on January 31, 2006 and January 31, 2007. Interest payments are convertible at ERHC's discretion at $0.175 per share.
In addition to the Exchange Note, ERHC entered into a new 10% working capital loan, dated as of December 15, 2004, in favor of Chrome for up to $2,500,000 (the "Working Capital Loan"). The Working Capital Loan is convertible into shares of ERHC common stock, at the sole discretion of ERHC, at $0.175 per share and expires on January 31, 2007. The entire original principal of the Working Capital Loan is due on January 31, 2007, with annual interest payments due on January 31, 2006 and January 31, 2007. Interest payments are convertible at ERHC's discretion at $0.175 per share. Pursuant to the Working Capital Loan Chrome is required to make funds available to Chrome pursuant to a schedule attached thereto. On December 21, 2004, ERHC received the first $1,000,000 advance from the Working Capital Loan.
Prior to the Restructure, ERHC had outstanding notes totaling $1,626,033.86 with nonaffiliated note holders. As part of the Restructure, ERHC has received agreements from the nonaffiliated note holders of $1,592,520.84 to convert their respective principal and interest into shares of common stock at $.20 per share, thereby reducing ERHC outstanding note obligation to nonaffiliated note holders to $33,513.02.
A copy of the Letter Agreement is attached hereto as Exhibit 10.1 and is incorporated herein in its entirety by reference into this Item 1.01. A copy of the Exchange Note is attached hereto as Exhibit 10.2 and is incorporated herein in its entirety by reference into this Item 1.01. A copy of the Working Capital Note is attached hereto as Exhibit 10.3 and is incorporated herein in its entirety by reference into this Item 1.01.
ITEM 3.02.
The Restructure is discussed in greater detail in Item 1.01 of this Form 8-k. Pursuant to the Restructure, on December 21, 2004, ERHC authorized the issuance of a total of 25,397,022 shares of ERHC common stock to Chrome. ERHC issued 12,308,560 shares to Chrome in consideration for the accrued but unpaid interest on the Old Notes of $2,461,711.84. The accrued but unpaid interest was converted to common stock at $0.20 per share which was equivalent to the conversion price for all the Old Notes, except one unconvertible note with an original principal balance of $403,643.85. ERHC issued 12,465,202 shares to Chrome as consideration for canceling the Old Notes and entering into the Exchange Note. Lastly, ERHC has authorized the issuance of 623,260 shares to Chrome for its pro rata potion of the 1,558,150 shares allocated as consideration for entering into the New Working Capital Loan, the remaining shares will be issued pro rata as Chrome makes future advances.
The information furnished in this Form 8-k shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Part of the OFFOR doesn't allow dilution program.
Careful Doug. Talking to me can get you linked as being the same person as me!!! Are you our main ID and I'm the sidekick? Hmm........
To the moon Dougie. Always to the moon. $.43 is on the way there too.
Now RobJ, don't try putting facts on this board and expect people to believe them. They really prefer theory, and the wilder the better!!! Got any conspiracies you can introduce here? Remember though, I always referred to this company as the SCAM on other boards, and those people were smart enough to understand my sarcasm.
You forgot about that silly defense faker company you got me into that ran up over a buck and then fell back to zero. That was a classic!!!ADZR - AdZone? Was that it? Hey, if people here aren't smart enough to go back and look at our posting histories to determine we are different people, that is their problem - not ours. I hope they are foolish enough to TOS us as being the same person. Good luck with that, as it will only make them look foolish and paranoid!! Come to think of it.....
Yes, I have brought many here to this company, and most of them understood my long view of the same. Yes, I have traded the stock and done well in doing so (with a few bumps along the way), even though it is considered an unforgivable crime by most on this board. Ah well - gotta make money when ya can.
Indeed I did. Some would say I was a bit too lazy t go back and edit my original post, but since I knew the unlikeliness of needing 15 posts for the day - I took the easy way out.
To the moon. We are golden.
Being associated with your posts is a problem for others maybe, but not me. I have no problems with your stated opinions. You, like everyone else here, are entitled to an opinion. I have no problem seeing ERHE through your eyes.
I know you differently than most other know you here. And I am fine by that too.
And even worse, I actually traded some shares of this stock at times.
I know I should be hanged rather than read. LOL.
I have to admit, for the number of years and amount of time (way far more than I care to even consider calculating) I have put into this investment by doing DD, reading this and other boards, conversing with other people face-to-face (including my wife and kid), I am amazed at what I know about the company at the instant a line of fertilizer is thrown out about it. Maybe that sounds arrogant or whatever, but I really get offended when people throw out totally ridiculous statements about ERHC, groundless and pointless comments that only show ignorance. While I see it most every day, I really despise it when it is a board preacher.
Having to read through the countless (TRULY countless) posts of how the company will be taken at the shareholder's meeting for a low-ball price (on more than one meeting too!!), how Sinopec bought millions of shares in the $.80s, how SEO never allowed any real dilution, how our partners were drilling in our blocks when agreements hadn't even been signed yet...... and on and on..... sometimes I simply feel it is time to ask someone to back up the ridiculousness of their comments with facts instead of opinions and postings of other people's opinions and jokes. But then, why bother?
Ah, but then I still hope for bipartisanship too.
This could be such a valuable place to exchange information. Instead, it really needs to be taken as entertainment only. Sadly.
Of course you are aware of why they did that, are you not?
And the answer isn't - because they were guessing and any idiot could have done that.
Hopefully you did your DD and understand why those blocks came to be chosen.
Midtier - I hope you are kidding when you make this comment:
") Fact of the matter is Ntephe, Bovell and Gralla weren't even around when we picked the JDZ blocks. And it still remains to be seen if the people that were there picked the best blocks or not. It seems to me they took some interest from every block that was available at the time. It does not take a genius to do that. "
Seriously. You are kidding, right?
How can you be certain that you speak for me when you state:
"I find it somewhat hilarious that everyone seems to be categorically, unilaterally, and unwaveringly against the marginal fields idea...and NO ONE HAS DONE THE MATH! LOL."
I assure you, I am more than capable of making up my own mind about most anything, including how I feel about ERHE and marginal fields.
Though the word SEEMS does appear to give you an out.....
You make a great case for selling the stock. Hopefully everyone listens to your sound reasoning and sells today. I'd sure hate for people to lose money here.
Thanks for the valuable information.
Aside from possibly the poor investment decision in which the company lost money, what other "mistakes and blunders" do you think are capable of being put into a lawsuit against our management?
I think to be in a WINNING lawsuit, the "mistakes and blunders" would need to be provable events, not message board gossip and conjecture.
Many of us feel the EXACT same way about people who post complaints about our company's management on a daily basis. Yet, after seeing very similar responses to that complaining like the response you wrote, those people doing the complaining about management felt they had the right to complain, and pretty much told anyone off who dared to differ. Why would this case be any different?
While I think neither sets of complaints will ever make a bit of difference to my share price in the long term, I will admit my personal feeling is that neither of those complaint styles or topics will accomplish anything with regards to what they are complaining about. Nonetheless, everyone should be entitled to their opinion about the company, its management, and associated entities.
Good luck to us all.
Ah but of course....
Looking for the bottom here.
Your definition of minimal dilution is different than mine.
From the 2001 KSB filing:
"Shares beneficially owned and percentage of ownership are based on 536,911,938 shares of Common Stock outstanding as of December 20, 2001."
While that isn't a huge amount of shares percentage wise, I won't quite agree that it is minimal, especially when a considerable amount were issued to him as payment in one transaction.
$.32 was always a great buy for bouncing with ERHE. It looks like $.29 is the current hold area, and in my experience, as resilient as any price point we get - usually. However, I am not sold that we hold here. Looks like we have some serious malcontents around.
AMEP was a scam on all levels for sure. But most scams don't take 10 years to show their true colors. How long did Enron really take?
I don't need to invest in gas - I already have plenty of it.
You play nice with the animals now - you hear?
And number 4.
Preferred shares.
Maybe they won't offer common stock for sale.
There are other means.
A smack upside the head yesterday. Could have been worse I suppose. We need some serious prophets to return!! Then the profits return. Who wants to be our hero?
Morning sir.
Good luck on your venture today.
Hope to meet you there.
With the multitude of people going today, I suspect there will be dozens of others also posting how they have set the company on a corrected path. However, redundancy isn't always a bad thing.
Time to get ready for business........
Welcome back robj. Congratulations on your reinstatement!!
Any price projections for the day? Or even the near term? Or the long term? With all the complainers going to the meeting today, it could be a brand new company by start of business tomorrow. Imagine the trading potential here with fluff PRs being released hourly, SEC documents telling us what Peter had for breakfast, and a constant update of where Mr. Offor is visiting!
Remember to pet the animals daily, and don't feed them.
That's not true.
We have about 150 - 200 people going to the meeting, you know, all the people who have been whining and complaining about management here the past month. After they set management straight on how to run this company properly, we should be getting SEC filings and news releases every hour detailing everything in the world about oil and ERHE. The share price is gonna soar!!!!
Just watch.
Or, wait to buy at $.32 if you believe they aren't really gonna set management straight, or even go to the meeting (my personal favorite).
Of course, management is also expected to invoke the ability to raise issues on the floor of the meeting and buy us out at a low ball cost again this year. My guess is $.187765 per share. Probably should wait for the drop to $.15 before buying then.
To the moon!!! We are golden!!
Hold out for the $.36, or even the $.32. I've seen this movie before.
Good to hear from ya Robj. Hope all is well.
Our thoughts and prayers go out to you and your family. It puts things in perspective for sure.
Take care.......
GNVC - ouch........
I hope you didn't get too injured by BNVI.
I didn't like the listing issue that they had, and avoided the stock looking for clarification.
I see the clarification today. Ouch.
Krom - simplification of all simplifications comes from answering this question:
When does a shareholder REALLY matter to a company?
The answer is as simple as it gets:
When the company is trying to raise money.
At all other times that I can think of, the shareholder is a drain to a company. We get in their way and cost them money.
No offense Strass, and this is not really about you, but many of us figured out years ago that the company wasn't shareholder friendly.
Heck, it's FAR better now than it ever was!! At least the phone may get answered now!!! And heck, the harder they try, the less we like it. Perhaps at some point they will just begin ignoring us again.
Think of the whining then!!
And the buying opportunities!!!
I'm not saying it is right - just that it is EXACTLY what it is.
They've tried to change. It didn't work out so well. The communication from company to shareholder makes it difficult for some shareholders to hang in there. Instead of trying to change the company, maybe some shareholders should change companies. The price is high enough for most everyone to exit with a gain at this point.
Spitting into the wind only gets ya wet. Time for the whiners to either put a rain coat on or find drier pastures!!!
Again Strass, this post isn't directed at you - just chose to respond here.