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And remember Sfreed:
http://finance.groups.yahoo.com/group/theelephantfields/message/12300
Even better...
"...once it has completed a drilling campaign for a third party operator in
Nigeria."
The campaign is likely to end early - like June.
And,
http://finance.groups.yahoo.com/group/theelephantfields/message/12302
There is a good chance of another ROO. This one or the Pathfinder is possible
as early as June. Addax is starting to get aggressive.
This one... (?)
OT: ERHC role model
http://finance.yahoo.com/q?s=ABTG.OB&d=t
It could of course be a negotiation tactic by Offor.
Stand only or via ADDAX, $10,- it will be, hopefully.
:p
Just a reminder:
THAT'S why SEO gave company employees the 'impression' that he only will be selling above $10,-
I believe no deals, sorry Mark/BB
But. . . WTFDIK.
Offor mentioned $10,- . . . I did not.
I heard from the company that. . .
Sir Offor will only sell above $10,-
Now let's hope it will go back to 12 first. . .
cents that is!
:D
And that's how we get north of $10,-
Green?
As in: a green investor?
:p
Also a nice re-read:
4. Why did Exxon sell their interest in block 1?
----------------------------------------------
Insufficient exploration, oil considered not commercially interesting (related to other opportunities) and continuing pressure from Addax to sell.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29835696
Peter C Ntephe’s presentation 2008 (by Tamtam)
As usual he started with presenting himself and the company.
What amazed me is that after this, he addressed a word of thank to all shareholders for their support, confidence and patience and said we will tell everybody else at every opportunity what a potential this company has and called ERHC a Champion.
Further he talked about the companies complete story of the GOG, JDZ, EEZ, JDA, Sao Tome & Pricipe similar as at the Redchip presentation to acquaint the attendees with ERHC it’s massive opportunity. An extraordinary story
The companies strategy is to IPO on the AIM which do not involve the assets of the GoG that has been discussed.
The new company would be owned by ERHC (the parent company) by a 100%
We would create a similar pool of assets for the company that is IPO’d on the AIM.
Seek assets in energy, natural resources and mining and so strenghten also ERHC’s position in West Africa
Change to Nasdaq, Amex or Toronto can depend on what happens with IPO on AIM
Q&A part
First Q was something like why ERHC wasn’t sooner on another exchange
A: ERHC adopted a strategic growth process, spend the last year of securing the assets and bring them to the level we are ready to drill.
Going to Nasdaq or other exchange is question of timing and are very carefull to make sure the timing is right.
We are now in the position were we can say: these are our assets, we’re ready to drill, this is where we are drilling and this what we expect to be the values of the assets, to the market.
Q: why not a reverse split, reduce the shares and gravitate up to i.e Nasdaq
A: This has been considered but problem is that then the SP is up and company remains the same and the share sp is dropping. ERHC takes very carefully decisions in growth strategy.
This kind of strategy is what the AIM is responding on.
This is a massive investment opportunity , we are an extraordinary small company but not just any small company
Q: (couldn’t understand, sorry) something about the new company on the AIM
A: We have very strong friends in Africa and are looking for identifiable assets right now and hope to to have them shortly and that's why we say with confidence that we are going to the AIM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29973015
My take on what the recent developments have meant.
When ERHC took up the megaphone with the shareholders and now the Investment community says ERHC lawyers have given the go ahead to ignore the investigations. ERHC and Addax have worked out that ERHC needs to move to the $4-$6 range over the next 12-18 months in order to make a palatable buyout to the Addax shareholders. The next step being the plans that Gandur has to be bought out 2 years from now. So I see Addax ending up with 'Subsidiaries' on the AIM and NASDAQ along with themselves on the Toronto exchange.
Looking forward to collecting dividends from XOM/CVX stock just over 2 years from now at an unbelievable multiple of what the pps is currently.
Long and dreaming fondly of the ERHC path being taken.
nightdaytrader, Gandur was very serious when he talked about the block 1 right purchase events.
He told that Addax has been very insistent regarding the purchase of the block 1 rights and had to come back a number of times to XOM before obtaining their approval. Gandur said that in the end, when they got the rights, XOM people said: "here are the rights, now go away, don't bother us anymore, leave us alone". No guarantee for the exact wording but that's what Gandur told happened.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30010795
For the sake of conversation, YankeMike
What about your thoughts these days:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29667857
Hope we make it to 1B indeed.
For the sake of conversation, YankeMike
What about your thoughts these days:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29667857
The AA is Dutch originally
So it must be the Flying Dutchman now.
The "Magic One" of course.
I think he means the AA, will move to us way sooner.
Oily,
http://finance.groups.yahoo.com/group/theelephantfields/message/12302
"There is a good chance of another ROO. This one or the Pathfinder is possible
as early as June. Addax is starting to get aggressive."
Meaning: He probably isn't selling early to ADDAX
Right?
I like BB's posts but don't think anything will happen until cards are on the table. . .
I BOVELL says that he 'thinks' that SEO wants AT LEAST $10,- for his shares, then that means that ADDAX understands that SEO will not sell prior to proven.
Seems logic, because now, at this time, SEO probably can only get a price based on low estimate numbers, maybe with a small bonus.
After proven he will still get a price based on low estimates which are proven at that time. And that is at least as high as low estimates with a small bonus.
So it is a win-win situation for him (us), unless they only find 'oil of olay'.
all imo of course.
Addax got the message from
Offor: "I'm NOT selling, until you give me north of $10,-"
I think that is good for us (understatement).
Do NOT tell SPP119 !
:p
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36471171
I'm sure he meant well, nothing wrong with keeping your feet on the ground.
What was the AKPO estimate?
I thought I was the only one that got 15000 at 10 cents that day (out of my head).
Rest of the order was not filled.
P-buster,
I can't answer you in private.
I got my name from "The Doctor" himself... ;)
Can't remember your handle from de Starnet/World Gaming days...
"Thing is as ERHE is often under light voulme it is very subject to manipulation."
Manupilation by you.
Taturd, I remember you as the sickest puppy ever on a Investorboard.
You will not get a chance on Ihub, like you had on Raging Bull.
Does anybody have the seismic-based pre-drilling AGBAMI estimates?
Did those figures come near to what is really down there?
Interesting quote:
"Anadarko, based in The Woodlands, Texas, can make a 10 percent profit on deepwater fields when oil is $30 a barrel, Chief Executive James Hackett said during a Feb. 3 conference call with investors and analysts. The company is devoting 20 percent of its capital budget to exploration this year."
Why is Addax's not reacting to this
"company making" event?
Strange. Anybody? Different type (more conservative) of investor/shareholder?
Why pizzed about the share price?
If we were drillng for rigs, we would be at $2,- by now.
But we're drilling for oil. Conservative market, certainly now.
The amount of oil will determine the size of the Jackpot, of course.
Could be a long summer in terms of anticipation? Who cares. Perfect time to accumulate.
I need a drink, oil on the rocks please!
Maybe that's why ADDAX's SP did not react? We listened to the off beat drum.
What does it matter in the long run.
I hear a song:
Ticking away the moments that make up a dull day
You fritter and waste the hours in an offhand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way
Tired of lying in the sunshine
Staying home to watch the rain
And you are young and life is long
And there is time to kill today
And then one day you find
Ten years have got behind you
No one told you when to run
You missed the starting gun
And you run, and you run to catch up with the sun, but it's sinking
Racing around to come up behind you again
The sun is the same in a relative way, but you're older
Shorter of breath and one day closer to death
Every year is getting shorter
Never seem to find the time
Plans that either come to nought
Or half a page of scribbled lines
Hanging on in quiet desparation is the English way
The time is gone
The song is over
Thought I'd something more to say
Home, home again
I like to be here when I can
When I come home cold and tired
It's good to warm my bones beside the fire
Far away across the field
The tolling of the iron bell
Calls the faithful to their knees
To hear the softly spoken magic spells
Why is ADDAX's SP not anticipating towards a "company making" ROO?
Are we the enlightened ones?
Mike,
The guy had no choice, I held him at gunpoint and unleashed my perseverance:
"What's my name, what's my name!!!"
It's ERving, not IRving.
:D
http://tinyurl.com/5skrfn
If they drill KINA end of year (?)
what do you think?
A loooooooooong, long summer is ahead of us.
Start saving money... cut back on feeding the kids.
:)
No, $10,75
Any deal based on conservative numbers is bad for us.
Let's just wait for proven billions, lol.
I want SEO's $10,- per share not per barrel.
:D
(post 151750)
Something along these lines:
Dan told me that the NSAI report is in the final stages of completion. To the degree that it examines some of the same JDZ Blocks as NSAI examined for Addax, it would seem reasonable to expect the estimates for those Blocks to be the same or similar.
The WesternGeco report ERHC released in June was from a 2003 report that was intended to help the company make Block selections in advance of the bid rounds. It’s in the second paragraph of the news release (http://www.erhc.com/en/rel/?116).
This NSAI report is based on 3-D seismic shot in 2007 that was intended to help pinpoint drilling locations. Expectation is that the newer data – along with the updated methods of analyzing the data –will give a more accurate assessment of ERHC's assets. . .
Also, the two reports are not aligned in the terms used. Risked and unrisked reserves aren’t the same as “recoverable reserves potential.” News release from June says; ”The estimate of recoverable reserves potential…did not include any attempt to comply with any SEC definition of reserves.”
The NSAI report complies with SEC requirements.
Troy,
What can I say?
Outstanding DD:
http://tinyurl.com/db36du
Old news,
The date is ALWAYS pushing ahead, so the SOL applies to anything that may be alleged to have occurred more than five years ago on any given date. Anything that may be alleged to have occurred within that five year window is still within the SOL. There is no “expiration” of the SOL. It always exists and it always applies to the previous five years for every company.
The discussion about the SOL is only important if you focus in on specific events that are alleged to have occurred. For instance, there was a report issued that alleged questionable activities in the 1990s and the period leading up to the initial JDZ licensing round in 2003. All of this period is now beyond the SOL.
The second bid round, which commenced in late 2004 is still within the SOL (until late 2009) as are all activities that have occurred since. Things that are happening today will be subject to a SOL that expires in February 2014. This is the case for every company all the time.
Gandur said in September that
with oil below $50,- it was a little bit problematic.
THAT is why he is in no hurry, since nobody knowns for how long the oil price will stay below $50,-
Printmail,
I posted this before, and I'm sure you read that the investigations will probably never be closed.
Printmail01, print this post and hang it above your bed:
Doctor J,
Thank you for you note and your interest in ERHC Energy.
You have pointed to TWO cases out of literally thousands of companies that are investigated by the government. In one of the two cases you cite, the company has actually taken action to satisfy the government by changing its business practices. That’s not possible in our case as there has been no allegation of wrongdoing to correct. So you have ONE case that you have cited in which a company claims the government has closed its investigation.
Could we get such a notification? It is possible, but our legal counsel has told us not to expect it. In the vast majority of cases, no such notice is given and investigations go dormant. Mike Madigan told me he has only seen such an action once in more than 35 years.
We appreciate the energy and passion of our shareholders, but in legal matters we must follow the advice and guidance of our highly competent and experienced legal counsel. Shareholders are welcome to take whatever action they please, but the company does not intend to re-energize an investigation that appears to be dormant.
Sincerely,
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com