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Umbra, if 3 is fine by you,
2 can't be wrong.
No Topshelf,
It's the other way around, in a worst case.
Do you think (claim!) that Bovell is farting around on a investor presentation, because he did not prepare himself?
Do you think Bovell would DARE (!!!) to make something up like that.
Naive, very naive. SEO owns half the company. Think again.
SEO IS the company, SEO MADE the company.
And Bovell is farting around!?!
Some dot connecting brainfarts:
We know for sure that. . .
1. the $10,- statement Bovell made was a DELIBERATE one.
2. SEO made his intention clear to the company.
3. Bovell had permission to repeat that intention in a presentation before INVESTORS.
4. . . .SEO is selling his shares. (Bovell said so)
5. . . .SEO is selling his shares north of $10,-
6. . . .SEO has already seen the improved seismic data.
Doc.
Dan said to me (lol):
"While Sir Emeka Offor has indicated his support for management and the company’s strategy, all investors have their own objectives and investment strategies and we do not claim to have any insight into his intentions regarding his ERHC stockholdings."
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com
Twitter: dpkpr
________________________________________
Why does your son want a new trombone,
give him a used one, if he is intending to shove it up Oily's !@#$%^&**
:D
Only his ego.
He wants to get in, not at any price it seems.
Remember he is an idiot savant. He is a very good pantograph. . .
: )
I meant that last line.
It seems that he thinks to steel away a rig at a better dayrate, before 2011.
That's what I'm puzzled about.
Does Gandur now that?
"We have benefited from additional oil volumes from Africa, but given the production profile of offshore fields, we need to see significant new discoveries to sustain that trend," says Fatih Birol, chief economist for the International Energy Agency in Paris. "It's not clear that will happen."
Maybe that's the reason that some investors are overlooking the GOG in general?
It does not matter for ERHC, because even with a relatively few barrels we will hit a few dollars.
"Consultancy Wood Mackenzie sees production in West Africa beginning to fall as soon as 2013. PFC Energy in Washington estimates that trend could take hold after 2014 when West African production peaks at 7.1 million barrels a day, compared with the current 5.8 million barrels a day."
Lol, that's when our block are coming into production. . . didn't Addax Say there are 48 billion barrels of oil still to be taken out of the GOG (10 Billion already produced)? No, sorry, it was on the ERHC pdf slide from the last presentation.
"Africa's hundreds of smaller explorers -- known as chongololos after the continent's scavenging millipedes -- have been aggressive in picking up the scraps left by big oil companies and pushing into frontier regions."
So we have some competition it seems.
"While he and other larger independent companies sitting on solid African prospects are likely to ride out the storm, others won't be so lucky. "This is a tough time for small companies that don't have production [to generate cash]," says Stewart Williams, senior analyst for sub-Saharan energy research at Wood Mackenzie. "Many will have trouble funding drilling programs."
Our current reserve estimates that we’ve previously disclosed are based on the Western Geco 2-D seismic from nearly 10 years ago. We have always ONLY released the P50 number – most recently in news announcements in June of this year (http://www.erhc.com/en/rel/?116). I think everyone who follows the JDZ is aware that 3-D was shot a while back, which is what the estimates that Addax has released are based on. The new reserves report is based on that 3-D seismic as well, using the latest technologies to provide the greatest possible clarity (short of drilling) about the prospectivity of the Blocks.
The company has a policy that prohibits commenting on share price fluctuation. It is worth emphasizing that ERHC has a strong cash position, great relationships with powerful and experienced technical partners who have a drillship under contract for the second half of 2009, and leadership that offers technical (Mr. Ledbetter), financial (Mr. Bovell) and geographic (Mr. Ntephe) expertise that is and will be extremely valuable. We understand and share the frustration that the drilling schedule has slipped, but we are staying focused on implementation of the company’s growth strategy and on the fact that the operators expect to take possession of the Aban Abraham in the second half of 2009. And, while we aren’t holding our breath, our technical partners have kept the door open for the possibility of a rig of opportunity. I think it is appropriate to be skeptical about an interim rig since the situation is so dynamic and subject to change given the macro economic environment we are experiencing.
Thanks for your interest in ERHC!
Sincerely,
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com
Twitter: dpkpr
Be gready when others are sick to the stomach.
: p
"they are probably not selling this side of $10".
Troy, he said: "our largest investor, a 42% holder, is probably not selling this side of $10,-"
Tamtam, regarding "duplicate"
let me repost a mail I got from Dan:
Thanks for the note. Peter never said the company would duplicate its rights. He said their intention was to duplicate what the company has been able to accomplish. Here’s the quote:
We are pushing forward aggressively with an initiative to accelerate growth by duplicating what we have been able to accomplish in the Gulf of Guinea…
I interpret that to mean duplicating the process of discovering overlooked and undervalued assets in parts of the world others may not be as capable or expert at venturing into as we are…and capitalizing on those assets. It has to do with duplicating the process. I don’t interpret it as having anything to do with the size or scale of the assets being pursued.
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com
King, problem is
You talk fluff because you want 100 shares at 12 cents.
YOU claimed, not me, that it is a 'problem' that oil is down and credit is hard to get.
I claimed that that does not matter, it matters in 2014.
We are in no need for credit to stay afloat, yet you suggest that it is a problem.
Do you understand that you are trying to draw an incorrect picture in order to get a few shares?
Regarding Buffet, if the PROOF always is in the share price, then it would be virtually impossible to make money on a stockmarket.
It's about identifying a 'gem', and taking a chance. Whether Buffet would buy into ERHC is irrelevant in this example.
P.S.
Shall we take a bet that you will AGAIN bring the investigations up in a few weeks, despite what the company said about it. I will repost their response again when you start rehashing.
To speak with Sfreed:
"We'd be better off if everyone put this in their drawer, turned off
their computers and settled back for a cup of tea until the New Year.
We'll be just fine."
Just buy your shares at marketprice, that is 17 cent right now. I think that is more than a good deal.
The 'real' Elephant?
http://tinyurl.com/5s2s5f
King & Krom, (investigations part II)
I dug up some more company mails for you two guys.
Quotes:
"The case is dormant. Why in the world would we seek to resurrect it? The last thing we would want to do is call attention to a case that is effectively DOA."
"I’ve explained the affidavit issue. The reason the lawyers aren’t attacking it is that it would not be in the company’s interests to do so. If the case is effectively dead, it would be suicide to seek to resurrect it. Unless you like paying lots of legal fees! (note from me: Capice, Krombacher!?!)
"Using your scenario – you suggest we seek to get a resolution to the case. That has already BEEN DONE. The resolution to the case is that it sits in someone’s file cabinet ignored. That is GOOD. That’s where we are today. The only other possible outcome is that the investigation progresses to the point where charges are files. That would not be good."
"Thank you for your note. As I indicated in a previous e-mail, the company’s attorneys have determined that it is not in ERHC Energy’s interest to pursue this matter. The investigations are dormant. Seeking to reopen them would not be in the best interests of the company or its shareholders."
In conclusion Krombacher, the company does not want to accelarate our 'burnrate' unnecessary! By the way, there are few companies nowadays that openly state that the Credit Crunch could actually be a blessing in disguise for them.
That is the opposite of the spectrum your trying to picture imo. If the company had the opinion that it is/was very likely that there would be/will be charges filed, do you think they would also allocate funds for other plans these days?
Dr. J
King & Krom,
you guys seems to forget that the volumes under 17 cents are so extremely low that it won't do you any good.
It is most likely at this moment that even if it goes lower (it hasn't for quite some time now) the volume stays under 10.000.
Krombacher, your arguments are very suggestive imo.
I don't think, and that's an understatement, that ERHC is worse off now. You keep hammering away though. We have more than enough cash, we have so much cash that company management is even willing to allocate some of that cash to other ventures. ERHC has extremely competent counsel assisting them, not meaning their lawyers. So. . .?
Regarding the investigations, let me repost a mail I got in august from ERHC:
"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, "
Has it started yet?
Oily, then elaborate.
You don't really think you are impressing anybody here with those one sentence statements!?!
Do you want your 15 minutes of fame? Elaborate.
Let it Fly,
"In addition, the statute of limitations will come into play by 2010."
Did he elaborate on that?
At least it is clear that you and Kingstar (TA-TRADE?) now what they are investing in.
If you can't take that kind of heat. . . act upon it.
BB,
Why did Pioneer lose so much market value?
http://finance.yahoo.com/echarts?s=PXD#chart6:symbol=pxd;range=1y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Dane, you could also say that to Dbernet.
Conclusion of this 'argument'? IMO it is indeed VERY UNLIKELY they will find a 'credit crunch' oil bargain.
Or it must be some property that was formerly out of reach due to a too high price, but still out of reach/interest of other oilplayers, due to violence in the region for instance.
Balance, Midtieroil is right
When World Gaming went to the AIM, the institution bought a big block UNDER the shareprice.
That's the way it goes. I scratch your back, you scratch mine.
only a few thousand at 16.5
only 45.000 shares at or around 22 cents.
Out of hundreds of millions. Mhwwa.
Mike,
If I look back at World Gaming (ERHC of the I gaming industry) it really started to get serious when the first research reports came out. . . the institutions followed.
If it weren't for Bill Frist, WGMGY would now be . . .
Tamtam in Dubai?
Keep us posted Tamtam. :p
Krombacher,
Do you remember a certain poster "TA TRADE"?
DBernet and Paul,
The Doctor thinks you two are overreacting. SP has nothing to do with The Kingstar. Rehashing things is not that bad anyway.
Read this:
Dear Doctor, slam dunk the Funk, 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
Ajaxxx,
Are you from Amsterdam? Ajax football? XXX being Amsterdam.
Addax is indeed a jumpy stock.
I bought in last week, at 27. LOL.
That's strange Troy, I got this answer last week:
:p
Doctor:
To date, the company has chosen not to specifically disclose its banking relationships. If it decides to change that, it will be in the form of a filing or other general disclosure. The same would be true if there were problems – with credit or otherwise. It isn’t the type of information that can be selectively disclosed.
I have made the company’s leadership aware that investors would like more information about our banking relationships and the impact – if any – that the credit market is having on the company’s operations and strategy.
Sincerely,
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com
Twitter: dpkpr
Do they need $100 million pronto?
In one/two years they will get that, and more.
(If oil is found of course)
Link?
What's with ADDAX 26,15?
Regarding the credit crunch;
Dear Dr. J,
To date, the company has chosen not to specifically disclose its banking relationships. If it decides to change that, it will be in the form of a filing or other general disclosure. The same would be true if there were problems – with credit or otherwise. It isn’t the type of information that can be selectively disclosed.
I have made the company’s leadership aware that investors would like more information about our banking relationships and the impact – if any – that the credit market is having on the company’s operations and strategy.
Sincerely,
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
www.dpkpr.com
Twitter: dpkpr
I loaded up when the PSC's were signed. LOL.
By the way: you have made more predictions in the last two years that sounded exactly the same. LOL II
My prediction: when oil is PROVEN the share price will rocket. LOL III
RC, you do a bad job of 'convincing' her,
you need to come up with facts, data, prospects, roo's, seismic's etc. . .
lol.
I the presentation Schrull talked about (ncsa?) a 35 to 40 % chance? To what kind of question was he answering, I could not hear that. I thought we had a 79% chance of succes?