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On May 1st 2017, with the beginning of the 180 day count down to the MOU between Starcrest and ERHE, All those opposed the success of the ERHE management team will be officially put on notice of the term "Check", like in a game of Chess.
The term "Checkmate" is not far off!!
JMO
Sneak
Eland oil is positioned to advance with a 22 million barrel hydrocarbon reserve increase the a proven well in OML40.
With all the upside, Eland Oil needs to find additional reserves in order to continue it rise in market value.
When one looks around, it is not hard to visualize Eland Oil, Starcrest and ERHE from working out a deal whereby All participants may become Winners.
Lets see if Eland Oil and Starcrest take an interest in Block 11A from a producing hydrocarbon well revenue sharing and hydrocarbon asset swap or merger.
http://www.proactiveinvestors.co.uk/companies/news/176982/eland-oil-gas-unveils-major-reserves-upgrade-for-nigeria-operations-176982.html
I could be Wrong!!
Just My Opinion for the next T-minus 183 days and counting!
Lets Go Pete!!
Sneak
Starcrest may exchange a sizeable cash flow from a Proven well for maybe 45% of her outstanding shares and hydrocarbon assets.
Eland oil could pick up the balance of She's shares thus picking up very valuable hydrocarbon assets onshore and gain access to Capital markets thru the AIM.
In 2018, Starcrest could receive $76 million from OML40.
Just My Opinion as I could be Wrong.
Do your own research.
Let's go Pete!!
Sneak
Shareholder Update is out and It looks like ERHE could be getting a Lifeline from Starcrest!
I told you so!
New PSC for the JDZ block 2 in the works!
It looks like ERHE will be dropping the Chad hydrocarbon properties under the Current contact structure of the PSC with Chad. It may get renegotiated, who knows?
ERHE is still a long ways from existing the Dark Financial Cloud of uncertainty that hangs about her Future.
Keeping the Faith!!
Sneak
$250k could buys 33% of ERHE. ERHE could get some cash flow from a deal with Starcrest Energy.
Watch for the new 10K for importment info about the 10K sneak
All of your statements are your Opinion just like anyone else that post here. Your Opinions seem to be Hell Bent on blaming management for everything under the Sun, including the fact that You purchased and got stuck with this stock and did not sell when you pointed out their numerous short comings in their business model.
So, in concluding, would you say, they (management) are Smarter than the numerous posters would tried to save the Masses from the current situation ERHE finds themselves in?
Just an obvious Observation.
Sneak
For the ERHE longs, "It is our Money and we will spend and defend anybody and any organization(s) of are Freewill and choosing"!!
Get over it.
Just more Facts!!
Sneak
The next SEC filing is just a few weeks away.
The Outstanding share count will be an important number to see.
Some say ERHE'S best days are behind her, but I would say otherwise.
Look for a Starcrest Eland deal to be in the works.
Just my opinion folks and not "Fake Facts"!
Sneak
King, ERHE has 15% of JDZ block 5 and the link you posted shows Oranto with 96.5% of JDZ block 5.
Someone is wrong and I would have to say the News organization is wrong.
Look for the Starcrest agreement to get completed.
JMO
Sneak
ERHE is sitting on (10) Hydrocarbon Blocks worth an estimated $30 million dollars and at a current market cap of 400K if you would use 2 billion shares outstanding.
If ERHE files for bankruptcy, these assets will be tied up for years on end trying to resolve the outstanding issues.
Having said that, should Star-Crest payoff the convertibles and gain a 33% interest in stock plus a 33% share of the Hydrocarbon assets for part of Star-Crest cash flow off of OML-40, the dark clouds could indeed start to drift away from ERHE. Maybe Eland Oil buys the balance of shares in a reverse split stock exchange where ERHE becomes part of Eland Oil, after all Eland Oil only has OML-40 to work and would like to have access to the Kenya block as well as the Chad property.
How this all shakes out will be Very Interesting!
Oh, No, Thinking Out Loud again am I?
Could I be Wrong? Me Not Think SO!! but that is MY Opinion, not yours!
Sneak, Have a Great Day!!
Seek, everybody has a gloom and doom scenario for ERHE, but one thing rings True for ERHE throughout the years and that is no one can never predict what SEO and friends may do concerning ERHE'S hydrocarbon assets valued between $300k and $600K at present share price.
Erhe is saddled with alot of debt. What one needs to look at is a scenario whereby SEO and friends gain access to those assets without incurring the financial burden and legal action that could arise from a Nefarious maneuver that would leave the IRS, Cespa, Soa Tome, Nigeria, Kenya and All of ERHE share holders in the Lurch.
A better scenario may indeed be in the work!
Just My Opinion, I could be wrong.
Have a Great Weekend and do not fret as the die may have been cast and we are all winners, losers or somewhere in between.
Sneak
Seek, NGAR could not possibly by ERHE assets as they are not Revenue Generating Assets. Why would they want to be in the same boat as ERHE.
Lets see what happens when ERHE get a revenue stream from Star-crest, if that is at all possible.
Should Star-crest exchange 50% of it's revenue for 50% of ERHE'S Hydrocarbon Assets, SEO and Friends could then sell off it's cut while still holding on to it's stake in ERHE.
It would be interesting to see if this could take place and who may buy the assets from Star-crest.
Just Food For Thought.
Sneak
Nothing but smiles today from ERHE longs today my friend!!
MOU looking better by the day and coming into clearer focus as well.
Thanks for the POSITIVE NEWS Effecting All ERHE longs SEEK!!
I think I will just kick on back and enjoy a glass of Crown Reserve on the rocks with a twist of Lemon and H2O.
Have a Great Day Seek.
Sneak
By Schlumberger
dry hole
1. n. [Drilling]
A wellbore that has not encountered hydrocarbons in economically producible quantities. Most wells contain salt water in some zones. In addition, the wellbore usually encounters small amounts of crude oil and natural gas. Whether the well is a "duster" depends on many factors of the economic equation, including proximity to transport and processing infrastructures, local market conditions, expected completion costs, tax and investment recovery conditions of the jurisdiction and projected oil and gas prices during the productive life of the well.
As one can see, the same word can have two connotations or meanings.
When looking to invest, one should always do their own DD and research the Company's SEC filings for a truthful and up to date summary of what has taken place and what is going on with the company that they may want to invest in and what the prospects of any future business plans and models may hold for the Future of the said company.
Remember, in no way has the past economic performance of a company been an absolute indication of any future results.
Have a Wonderful Day.
Sneak
The Teflon Don continues to operate ERHE without any wrong doing as per the SEC.
With all the uncertainties that surround ERHE as she is a drift in a mine field unpaid bills, legal trouble from the U.S. Government and the SEC is not one of them.
All the unpaid bills are of a civil matter at best. Peter has done a Great job stirring the ERHE Corporate ship in troubled waters and very bad economic times for oil prices.
A word like dry holes is ambitious at best. It has a negative connotation to it. Example,
Dry hole: one meaning, empty or void of hydrocarbons.
Dry hole: second meaning, hydrocarbon present, but not in commercial quanities or lacking in commercial quanities, short of desired results.
The term Commercial Quanities will vary from company to company depending on the price of oil, the cost to get the oil to market and the duration or life expectancy of the well.
For ERHE and her partners, this goal has been elusive at best.
Going forward with Starcrest and may be Eland Oil things may start to look better in the month ahead.
Long and Strong! Go Peter
Sneak
Another day goes by and ERHE heads for the end of the second quarter on March 31 2017.
Another day goes by and no news from NGAR.
A lot of companies would have folded up and disappeared from the pink sheets. ERHE continues to defy the odds.
Let's see what Eland and Starcrest can bring to the table.
Hang in there ERHE longs. I am!
Let's go ERHE.
Sneak
I wonder if this case is related to the former Nigerian President Johnathan Goodluck's administration approval of a $3.5 billion refund to Addax Petroleum for the work complete by Addax Petroleum on Nigerian Hydrocarbon infrastructure.
Deloitte refused to approve financial statements by Addax Petroleum.
And the beat goes on!
Sneak
Just your opinion once again and nothing more!
Just more Facts!!
Sneak
It is much easier to believe in Nefarious behavior by the ERHE Management Team and any attempt by Management to make the right move.
ERHE has always lacked the physical attributes as well as the financial attributes of a proper Oil Exploration Company.
They have always been and will continue to be a Hydrocarbon Assets Holding Company with leases in some of the most desirable Hydrocarbon areas of the world.
The Nigerian power brokers have been diluted just like most investors. How will the Nigerian's rescue their $14 million plus investment?
Could Starcrest swap a % of the OML40 lease and thus proven reserves plus a steady stream of cash flow for a % of ERHE Hydrocarbon Assets.
I will not elaborate any further as I am quite sure those invested can envision any scenario they choose.
Just My Opinion as I could be wrong.
Sneak
Looks like one of the big Brokerage firms involved in the CD did not sell their shares.
Hmmmmm! So ERHE shareholders are "Riding The Storm Out"!
Your Repeated Posting about ERHE is Strikingly Similar in Nature and Tone! to what you accuse management of! HMMMMM
Just more Facts!!
Sneak
The Facts are the Facts!! ERHE is not an Hydrocarbon Exploration Company by any stretch of one's Imagination.
ERHE is just a Hydrocarbon Property Holding Company in it's Purists Form.
Had one of ERHE'S Operating Partners discovered a sizeable discovery in the hundreds of millions of barrels, I am quite sure that all this Blaming Management would not be taken place.
Take the Kenyan block 11A, they found two fully charged drilling target zones with one extending 100 meters. This well was to contain 65 millions barrel. Assuming that the 65 million barrels represent the bare minimum for CESPA to develop since about 35 million
barrels would be their cut. CESPA decided to plug the well which would indicate a much lower yield than previously thought.
Since ERHE has absolutely No Control on what targets get drilled or what targets get developed, Blaming Management for failed drilling results is like Blaming Misspelled Words on your Pencil.
Unless ERHE can find a partner willing to develop smaller hydrocarbon carbon finds, the future will remain clouded in the fog of uncertainty!
Just More Facts!!
Bring on Starcrest or Eland Oil.
JMO
Sneak
Old News!! They thought they had the Glory Hole of hydrocarbon assets in the JDZ.
Nothing in Life is guaranteed except Death and Taxes!!
Going forward they are not consumed by the past as much as some are. Since Deloitte came on the seen, ERHE has topped all of their achievements from prior years combined.
Let's see what unfolds in the next two months.
JMO
Sneak
What you could be seeing is the "White Board" in action!
Something is Cooking!!
JMO
Sneak
All the talk of an ERHE early demise has been all Fake News once more,
She still has a heartbeat and has not slipped under the surf.
Rally Time!
Sneak
Oldoil: Well Said!!
Just More Facts by Oldoil!!
Sneak
Seek: Eland claims to be able to pump 10,000 a day in 2017 when everything is up and running in 2017.
Starcrest gets a free ride until production starts.
Sneak
Seek: Please see the latest Operational Update from Eland Oil on block OML 40.
http://ir.euroinvestor.com/solutions/ElandOilAndGas/1874/newsArticle.aspx?storyid=13536756
Sneak
Your opinion means just that your opinion.
Let see who's opinion wins out!
Sneak
LT: review the options once more and one can see that put cash into ERHE does little to secure the Hydrocarbon properties for Seo and friends.
However with an asset exchange whereby ERHE receives part of a proven reserve plus revenue from this exchange works well for both parties.
ERHE gets proven assets and cash flow and Seo and friends transfer 45% of ERHE asset that will now fall outside of the U.S. Government reach for sale at a later time.
Win, Win for ERHE longs as we are still in the game.
I could be wrong.
Sneak
Nordi: The #1 question in my mind is how does SEO and Friends turn the very valuable hydrocarbon property rights into Cash without the Intervention of the U.S. Government as in the past (Foreign Takeover of a U.S. Registered Company's Hydrocarbon assets).
There are two ways of looking at any options.
1) Starcrest exchanges a percentage of OML 40 oil revenues in exchange for maybe 45% of ERHE's Hydrocarbon assets whereby ERHE gets enough funding to pay its own way forward.
2) If ERHE has a proven revenue stream tied to proved reserves, it no longer has the on going concern issue weighing in so heavily as to deter any Western Companies interested in investing or buying out ERHE for the balance of the Hydrocarbon assets.
In option #1. If SNP were to buy Starcrest, then SEO and Freinds would not have to fear the U.S. Government's intervention since SNP would only control 45% of ERHE'S hydrocarbon rights. Option # 2 then could come into play.
Just food for Thought.
I could be Wrong!
Sneak
Nordi: I do not believe for one minute that after all that SEO and his friends in the Nigerian government have been thru in bringing ERHE this far, that they would stand idly by while ERHE is allowed to slip under the surf due to its current financial predicament.
If ERHE had to file for Bankruptcy, All of ERHE'S hydrocarbon assets would be beyond SEO'S financial reach.
The Starcrest MOU could be a lifeline to keep ERHE sitting upright in a turbulent sea of financial uncertainty and suppressed hydrocarbon pricing due to the current World Oil Glut.
Just My Opinion
Sneak
What could Peter and Company Possibly be Working On?
HMMMM!!
Sneak
Seek, Only a handful of Brokerage firms took the stock instead of selling the stock on the open market.
Just Food For Thought!
Sneak
The Hysteria type response was expected.
Just another FACT!!
Sneak
Who is buying, holding the 1.1 billion shares collectively and why?
Hmmmmmm!
Sneak
No myth. Brokerage and hedge fund operators converted their CD into shares and now control 53.3% of the 2,085,083,052 or 1,123,313,169 shares. Could it be Bullish? ??
Very, Very Interesting Indeed.
What is cooking the the ERHE kitchen?
Sneak
No myth. Brokerage and hedge fund operators converted their CD into shares and now control 53.3% of the 2,085,083,052 or 1,123,313,169 sharecould it be Bullish? ??
Very, Very Interesting Indeed.
What is cooking the the ERHE kitchen?
Sneak
The CD holders control over 50% of that 2 billion shares count.
Just another Fact!
Sneak
Thanks Tam.
Sneak