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Could be that too SH, but you know what? We are getting down to quite a small number of longs, you can be sure of that. And because of that ol' rotten bagholder smell, if/when the SP really shoots up many will chase the odor away by selling all or part of their ERHE holdings, and most likely MUCH lower than they had planned ( a wise move anyway, protect your initial investment!)
And that, TOO, is what the seller(s) know will happen and are counting on.
Just as good as money in the bank for them.
Yup, and that smart shadow owns 300+ mil of ERHE shares (add another 100 mil + in the hands of friends and family.)
JMHO.
Yes snow, some buyer(s) snatching millions of ERHE shares, but on the way up this time... Does someone know something we don't?
(This is a rhetorical question...}
But the deadline was pushed back, wasn't it?
Also, see my post #10178 for clues ruby.
Mea culpa nwtf. I'll admit to being on of those who were SLOW to wake up and smell the coffee.
What's a gifwood? A piece of wood saved as a .GIF file? I'll have to try that LOL.
Wish you could be more forthcoming too, but understand... Thanks.
Here are a few crumbs:
Posted by: stockguard
In reply to: rancho who wrote msg# 7920 Date:7/9/2005 7:17:56 PM
Post #of 10176
rancho
From my obsevations you may have your statement a bit off in your responce.
The poster is correct to the illedge shorting ongoing as it is offfshore or market makers, both likely. This is not to trap the shorts, but to insue selling to accumlate by those shorting. They will cover only when strong buying interest occures.
I strongly believe buying interest is going to hit hard when there is aknowledged conformation from company principles as to partnerships, precentages and drilling time lines. I also beliveve this will happen when least expected and within a shorter time frame than is usual.
stockguard
Posted by: stockguard
In reply to: rancho who wrote msg# 7934 Date:7/9/2005 9:59:41 PM
Post #of 10176
You`ve not figured it as yet?
Pioneer will take an stake in ERHC Energy Inc. and form a subsidiary company and ERHC will still function as an independent publicly traded entity. FYI, it will be a limited partnership and ERHC`s share price will trade in tandem with the new LP symbol. This should all likely come about before years end.
PS..... Like your investigative approach, now add onto it this bit of forward thinking.
A lot more to come with this play and many longs will exit before it plays out.
Regards, Stockguard
Posted by: stockguard
In reply to: rancho who wrote msg# 7941 Date:7/9/2005 10:47:01 PM
Post #of 10176
DING,DING,DING, exactly. Short term orientated individuals will loss out, sad as it is.
The process in the works is usual and I apologize that I had not read your opinion on this subject, time restraints keep me from being current sometimes.
Watch the BS continue on RB and here as some posters aggravate in the negative the next few weeks and also look on the continued bid side for insight.
I wish I had L4 confirmation of any of the main sellers shorting, but it seems it`s a player offshore likely and that`s nothing out of the norm for and active BB play.
Posted by: stockguard
In reply to: sllabxam who wrote msg# 7951 Date:7/10/2005 2:23:18 PM
Post #of 10177
O.T....
Max your thinking is a bit off there, your reading to much into the messages on the many boards and seeing a conspiracy. They do exist but I can assure you i`m not part of any and only out to make money on fundamentally sound companies at low entry prices
Regards, stockguard.
Posted by: stockguard
In reply to: idcc2005 who wrote msg# 7955 Date:7/10/2005 2:32:57 PM
Post #of 10177
Limited Partnership - LP
Two or more partners formed to conduct a business jointly, and in which one or more of the partners is liable only to the extent of the amount of money they have invested. Limited partners do not receive dividends, but enjoy direct access to the flow of income and expenses
Posted by: stockguard
In reply to: rancho who wrote msg# 8161 Date:7/15/2005 9:18:12 AM
Post #of 10177
Poison Pill
All the company need do in this case is announce they have adopted a shareholder rights plan designed to encourage the fair treatment of its shareholders in the event of an unsolicited takeover bid for shares of the company. The rights plan will provide the board of directors and shareholders of the company with more time to fully consider any unsolicited takeover bid without undue pressure, allowing the board to pursue, if appropriate, other alternatives to maximize shareholder value and allowing additional time for competing bids to emerge.
This would be voted on at the annual shareholders meeting.
The Poison Pill strategy is used by corporations to discourage a hostile takeover by another company. The target company attempts to make its stock less attractive to the acquirer. There are two types of poison pills:
1. A "flip-in" allows existing shareholders (except the acquirer) to buy more shares at a discount.
2. The "flip-over" allows stockholders to buy the acquirer's shares at a discounted price after the merger.
1. By purchasing more shares cheaply (flip-in), investors get instant profits and, more importantly, they dilute the shares held by the competitors. As a result, the competitor's takeover attempt is made more difficult and expensive.
2. An example of a flip-over is when shareholders have the right to purchase stock of the acquirer on a 2-for-1 basis in any subsequent merger.
Posted by: stockguard
In reply to: pistolpete who wrote msg# 8336 Date:7/19/2005 6:06:44 PM
Post #of 10177
Very O.T...
Michael O. Pickens has been scramming for years in the securities market. Couldn`t fill Daddys shoes ever in any respect so he took the low road. About time he got his balls in a sling for his many underhanded securities actions.
Tried slamming a video conference company I was involved with back in the early 90`s, out of NY and at the time slander on the net was only a new venue not tried in the courts or by the SEC.
Unfortunately he`ll probably never see the inside of the federal penitentiary due to Daddys duckets. He`d be the darling of the cell block and punk of punks.
Sorry for the rant but this pig has NO class, period and needs to hone up to his past and present.
Posted by: stockguard
In reply to: None Date:8/4/2005 11:34:56 PM
Post #of 10177
Watch for some excellent news in the coming weeks.
Stagnant as this companys share price has been lately, you`ve seen the last of the lows and sideways trading.
Posted by: stockguard
In reply to: Spec29 who wrote msg# 10093 Date:8/18/2005 12:58:59 AM
Post #of 10177
People/investors, hang in there. You`ve been played to this point by the a few big players after awards. If you`ve held, your smart! Watch what will unfold! Be smart and play this one for the companys next announced, coming very soon.
Sorry BB, did not answer sooner, but your diligence will be well compensated. Watch our partners, they are moving fast track!
I GOT IT!!!
It's an:
Extremely
Rotten
Hit-and-run
Cat...
OK, your turn folks LOL.
Thanks for the update BB. Strange upswing today, something's up! (But hey I'll take it...)
BB did Phil say if he has gone to NG and/or met with Offor yet?
Mabenn1 a couple questions if you don't mind:
- Did we trade 96M actual shares (rounded up) 96:2 = 48M shares?
- In your thinking, would/could FAB want to unload only part of their shares won in the lawsuit?
Morning SH, I think I might have completely missed out on something here. Can you fill me in on Offor causing delays in the STPEEZ?
What happened?
Thanks.
nwtf you don't seriously expect an answer here do you? Sorry, rhetorical question #2 LOL.
NOT a subject too many ERHE investors are willing to discuss, and yte it's at the very root of our ridiculous SP levels. I will readily admit it took me a couple years, and it wasn't until I got the sage advice of very experienced friends that I realized it had been staring us in the face!
Wise man.
Dear sirs and lady,
My behavior is more moronic than your behavior.
Much more LOL (might as well laugh about it...)
Nice find SH.
Long way to go out there too.
So let me get this straight Maestro224. THE WHOLE TIME Offor WAS holding his shares through a US entity (that is, until a few months ago) he was a complete moron (your words.)
Now that is holds his 300+ million shares through Chrome in the Caymans, he is no longer a complete moron?
LMAO.
Careful with that iron skillet now, Mrs. BB (Tell her I'm the one who said that, don't wanna get you in more trouble LOL!)
Don't want to speculate on the moving of 300+ million shares offshore, we've discussed that ad nauseam already. At the time there were perhaps some positive reasons (protection from hostile takeovers, etc.) but the situation has changed quite a bit. What clearly hasn't changed is the lunging for the wallet of the weak-minded or financially-wobbly shareholder. With little or no reporting requirements from offshore but still plenty of MMs on WS more than willing to be "creative" there are many possibilities... Whether they are legal or not is not relevant, because the SEC is a disgrace of an institution and everyone knows it. The point is that comparing today's situation to what was happening when reporting requirements were so different won't get us anywhere. I'm not sure about taxes in NG, but what I'm sure of is that one can make a TON of money controlling/manipulating shares.
Here's one small thought to cheer us up. I believe it was Paulsen who told you something to the effect that in spite of the awards there was still a lot to be worked out... right? Well for a while I entertained the thought that this buy-in rumor was started by insiders but I now wonder if it might not be on the table AS A PART of the deal-in-the-making between Sheffield and Offor. EO is a very efficient local deal-broker in Nigeria, but without the aggressive stance and top-notch people/technology that PXD has, he is just a paper tiger.
(For now) Sheffield clearly has more leverage. Add Soros to the picture, the starting panic here about the price of gasoline (a neighbor just told me that at the latest local auto auction there were hundreds of SUVs to be had for dimes on the dollar, and to get a Honda Civic you had to have really deep pockets...) and the extra pressures that will ensue at the corporate and political level (airlines have already raised their prices EIGHT TIMES THIS YEAR) and anything's possible. Perhaps the SP will reach an acceptable level in less than 3-5 years after all (long shot, I know.)
BB here's my reply to your post... late but sorry, I've been out of contention for several days.
I do not have your faith in/admiration for Offor (no change here, he has a LONG way to go in my book, and please re-read your conclusion: it is is too good to be true, it usually is!) but I agree with most of your post, such as:
The price of oil will have gone way up (I say tripled within months.) This reinforces your point.
#3 ("A group of investors trying to make a run at the company selling some to get it moving down then accumulating? Perhaps.") Look at this post, it looks like this ds2 character could be part of one of the two main crews:
http://www.investorshub.com/boards/read_msg.asp?message_id=7297467
Second sentence: "Oh, and I work with the largest non insider holders of erhe..."
EXCEPT for:
#5 (Offor selling shares.) I know you are trying hard to rationalize what's happening, but I wish you would see that your theory here would indeed hold water IF cos based in the Caymans or other such havens, had the same reporting and other SEC requirements as indigenous ones do. They do NOT. Remember also that millions of shares are also owned by EO's family and associates, all of whom can be at play in this situation.
The result? Yes, it is obvious to my eyes as it is to yours that this shareprice has been manufactured. They have completely controlled it for over a year now (since the April 2004 run) and they will continue to crush any substantial run while accumulating more and more (now very) cheap shares. Think about it, they know that time is on their side. Eventually, there will be such huge geo-political pressure that our SP will rocket way up. And even if that didn't happen and say, PXD/Soros did get enough leverage for a buy-in at 2 dollars, in you were in EO's shoes would you prefer to sell tens of millions of new, sheltered offshore shares that you got at 30-40 cents, or at 1+ dollar?
Just watch, I have said and I repeat that they will run her into the high twenties, possibly much lower - and scare the heck out of the few faithful longs left - before she goes back up. This is OTC land, it works every time.
Be well.
Could it possibly be because there is no such group?
I also note that Mark and his updates have been REPEATEDLY welcomed to this board and others by reputable posters, such as Balance Builder.
Time to wake up my friend LOL.
Great post redinvest, I feel so much better now...
Magic, I don't understand. I thought you were watching level 2 pretty close, all of this unraveled before your very eyes!
And BTW, nothing defying logic here, this kind of stuff happens every day, especially on the OTC.
ztock hits it right on the nose. All IMHO.
Dear Mr. MM,
SOME of us on the ERHE board DO know why our "40¢ company isn't trading for $3.00."
Are some of the MMs involved? Not front and center, but they are, as directed by those who have had the might to put a very heavy lid on this co. at 40 cents, and have been killing ANY serious run by dumping into it.
Care to tell us who you work for?
And during these few more months your 30+ million shares are still stuck in the mud, con-pooch.
oooooopsss....
No wonder you're on such a rampage. LMAO.
Ah, but wait, there's more. You had a slip of the tongue three days ago about ERHE being "on the cusp of signing the PSC." When I called you on it ("I have been away, but to the best of my knowledge this isn't slated for quite a while. Are you lying again or could it be that it IS in fact around the corner and you are trying to grab cheap shares (again)?") you didn't reply. Now we learn the PSCs are delayed and, what a coincidence, after a quick run we're back down to 0.385. HOW MANY CHEAP SHARES DID YOU GRAB THIS TIME?
oooooopsss.... BUSTED!!!
Newbies, see #9225 about Crooklandmeister Mongo1071, aka Monkeytrots, aka... as many aliases as needed on various boards.
Very close to my own thinking Manti. Again, I would however be more than willing to change my mind if someone can share solid info on FAB selling or shorting.
Anybody connected to First Atlantic Bank out there?
Many have been deleted (NOT by BB) I have copies if you'd like SH. After spending hundreds of hours moderating this board from January to August 2005, because of that ONE post of my DD (legit and honest reply to some legit and honest questions by Petemanx about Emeka Offor,) all of a sudden I was kicked out as a moderator while being away as you know, and now I am treated just like Mongo/Monkey (who of course gloated about it like the no-class, repulsive individual he is.)
All I was told is that I am no longer deemed trustworthy to "speak only for ERHE."
Again, just the facts, but you better save this one quick!
I concur with most of what you posted wx.
One thing that's a bit hard to understand for Westerners is that in Nigeria a friend commonly becomes a foe (or one who pretends to be a foe to get his way) overnight, and vice-versa. At the time the FAB affair unravelled, many posted that FAB and Offor were ennemies, etc. I don't believe this ever was really the case, the whole thing was settled amiably, and each party got what they wanted. I understand that Offor has several old friends at FAB anyway...
As to whether FAB has been "the seller" which would explain the ridiculous .40 SP, I don't think that's the case. But if someone has something concrete, I'd love to be wrong.
What I meant by that was two-fold Pete. A little bit on the ERHC side in Houston (perhaps one person for the accounting, etc. as BB also suggested, and one qualified company manager to deal with the day-to-day) but most of the hiring on the Chrome Energy side in Nigeria (as you may know, Chrome/Offor controls ERHE and is also very tight with both the powers-that-be at NNPC and the Nigerian presidency, consequently I'd expect a lot of additional work/contracts for Chrome.)
My two cents. I guess this message will be deleted anyway... If you see it, save it quick!
ERHE, a lil' heads up for those who are still in or interested.
Look what I just came across:
http://www.investorshub.com/boards/read_msg.asp?message_id=7297467
Second sentence: "Oh, and I work with the largest non insider holders of erhe..."
Hope it's OK to post this here, it looks like this ds2 character could be part of one of the two main crews... and if I put it up on the ERHE board, chcr will delete it in about 30 seconds (kinda hurts, after the hundreds of hours I spent there as a moderator. Oh well, I was had.)
I'll second that.
Far from "just a clown" though. I believe he does owns shares, and lots of 'em LOL.
Thanks BB.
Question for you. Do you think as I do that the small (compared to past habits/track record) 827K "believed to be sufficient to fund working capital obligations for the next twelve months" is really only possible because they know that during that period of time some other party (partner?) will come on board (buy-in?) and pick up at least part of the tab?
It's especially true because if anything, ERHE should be growing/hiring, not downsizing.
Flattering ourself now?
How transparent.
Pup this is really funny, I'm most definitely "a pro," but not in this stock stuff where I feel, well, like a... pup! Anyhow, thanks for brightening my day (yesterday was a rough one, it's really awful when a friend turns on you and you come to realize that this friend was in fact eons from what you thought, in this case quite possibly part of the pumping crew.)
Gotta run.
I might, rabbit, I might LOL!
I have a lot to learn about TA (just about everything in fact) and if I can find the time this board would be my first pick.
OT - Linda, it's in the post, I haven't sold a share. I would never let this kind of crap influence my buying or selling. This being said, it's hrad not to agree at least in part with Mac who once again nailed it when he heard what happened: "gets smellier by the minute..." Not referring to the many really good, decent people (posters and lurkers) who are in ERHE though, but to the small and powerful forces that have been involved in this stock.
Long-term we still looks good, short term they crushed her down to 40 cents and keep stomping. I believe they will run her down to the high twenties (possibly less) just before the next big move (a few hours or days.) And no it won't be "just the MMs making money." I have no idea if it will be this fall or two years from now, or five years from now (believe me, I wish I did!)
Hi Linda, back to trading?
Here is what happened. Someone posted a sensible message with legit questions, I replied with this along the same lines:
*************************
Posted by: Gigwoof
In reply to: petemantx who wrote msg# 9118 Date:8/4/2005 10:03:08 AM
Post #of 9648
About your questions concerning Offor.
Thanks for an excellent post petemantx, sorry it got buried in all the BS... Here is my lil DD on this.
Those of you who've known me for a long time know that I have always congratulated ERHE on positive steps (there have been quite a few this past year) but also that I call it like I see it.
In a nutshell, at THIS time I believe that your concerns are well-founded, and no, you're not out in left field.
To my eyes and those of very experienced investor friends, it is obvious that Offor has been using ERHC as his personal piggybank by issuing more stock here and there, and working with some MMs to dump into any serious run (NOT every day as some seem to believe, that's left to regular swing traders, just substantial runs) in order to keep the SP at whatever level he needs at a given time and/or accumulate yet more cheapo shares.
We were hoping that it would stop early this year, but alas it didn't. The moving of his shares offshore via Chrome, while having definite advantages in terms of protecting the company against a takeover by XOM or others (even our "partners" would probably be extremely interested because of the unprecedented magnitude of the rights that were confirmed by recent awards, none of these are choir boys...) also allows him to do whatever the hell he pleases, and the reporting requirements are next to nil. NOT good. Note also that since early June (awards) there has been no substantial institutional buying. It's not for lack of eyes out there (there are many hawks...) but I'm 99% sure that it's because they are VERY uncomfortable with this very large offshore holding, as are we "regular" shareholders.
BTW, some keep bringing FAB and their measly 70 mil shares or so, as a major player here. While it's possible that they have been hurting the SP post-awards too, by shorting or working with a hedge fund, on the grand scale of things I don't believe they are a factor. One reason is that from what I understand it's not just Emeka who has the lion's share via Chrome, his associates, kids, and even his wife all own ERHE shares either directly or indirectly, and you can be sure that those aren't lil 500K chunks. In other words, Offor & co most likely own far more than 50% of the company.
What is Offor like? My DD paints him as a fairly typical businessman, not a "great" man (could happen, he's still young) but a shrewd, successful businessman who has been so successful BECAUSE he is solely interested in his own gain. He is a mix of Western and Traditional African cultures and smartly draws strengths from both. Offor COULD easily take steps to reassure shareholders, such as simply sending us a letter that states his overall goals for ERHE for the next 5-10 years, or stopping his current, incredibly short-sighted accumulating at 40 cents and let the stock climb to a more normal level (there are hundreds of companies out there in "emerging state" that trade way higher with way less "in the pot") but so far he hasn't. He has a long way to go to understand how the markets work, and I am indeed concerned that he seems to still listen to those of his advisors who keep telling him that the "Nigerian way" is good here too. It isn't. In Africa, friend flips to foe in an instant, but it's on a small scale and it's very manageable. Here it takes much longer, but it's on a totally different scale, and the forces at play are huge. Pete, I don't believe you were on board at the time, but I have stated and I do maintain that Emeka Offor has the POTENTIAL to be a "great man" (as rich and well-known as Bill Gates within one or two decades, and definitely one of Africa's great stories) IF he understand that he needs to move ERHE to a mainstream market and play by the rules. One simply doesn't get there by playing games and using loopholes at the fringe of the OTC.
I do believe the PXD / NBL alliances help, but until Offor moves his shares back to the U.S. - which would likely allow substantial institutional investing by those small and aggressive institutions and be an almost-immediate, very large benefit to his holdings - allows a substantial buyin by say, PXD, and stops stifling the stock's value, the "Nigerian con man" spectrum will keep floating right over his head.
Regarding Mongo, I will post a separate message.
#board-1909 Co-moderator, ERHC Energy (ERHE)
Buy when you can, sell when you should (I wish!)
*********************
I also posted #9225 which you may find of interest, then left town for 4 days. The board's creator knew about this as we had discussed it on the phone, but apparently snapped and booted me as a moderator. This message also got deleted (IHUB boss refused to reinstate on our board...):
*********************
Posted by: Gigwoof
In reply to: Homeport who wrote msg# 9384 Date:8/8/2005 3:33:53 PM
Post #of 9550
HP I was kicked out as an ERHE moderator by chcr.
I just want the board to know the facts. I am posting this not to feed the bashing scum, but for the few people on this board with whom I share a deep mutual respect (you know who you are.)
For the record, I never requested being taken off as a ERHE co-moderator/assistant-moderator, and I was NEVER told that I was supposed to only post "for" comments or thoughts when I was "signed up" by chcr in january 2005 (this ERHE investment is money that my wife and I worked very, very hard to make in the first place, I would never agree to not speak my mind and to share only part of my DD, that's not the way I was raised.) Also, I haven't sold a single share, and while I have strong (and legitimate) concerns about the way ERHE is run and treats its shareholders, I am still a long.
Last week, after returning from a month of very intense work and finding a board in shambles (very close to RB,) I did what I could for a few days, then had a long phone conversation with chcr during which I said that I would post some DD (including some info I had come across in July and some well-founded concerns) and then leave for several days to go and help some relatives. That DD materialized into posts #9118 and #9225.)
Apparently post #9118 was construed as "against ERHE" and that one post was enough to get me kicked out as a co-moderator (actually an ASSISTANT moderator as I was reminded via private email, whatever...) without so much as a phone message or an email, which did floor me for a lil' while. I had to find out through some posts on the board this morning! I emailed chcr and received a reply a few hours later that I had gotten the boot after posting #9118. Apparently it was interpreted as "we are all being taken in." For the record that wasn't my thinking or intention AT ALL. I simply expressed some of the same concerns, BORN OUT OF OBSERVATION, that many longs have (ncluding chcr, go figure!!)
I have emailed chcr that the only word that comes to mind is: WRONG. In my book, the ethical and right thing to do would have been to go on the board and state why one disagreed with my post, just like I've done with BB many times. That's what fosters good DD in any investors' boards. I would have taken no offense, it's totally OK to agree to disagree!
While I deplore the way this was handled, I am relieved not to have to deal any longer with many aspects of this very thankless job (Max this is the only thing you were correct about, for the rest you were COMPLETELY wrong, if you don't know something, maybe someone else does, so don't just make it up OK? Contact chcr if you'd like to be a moderator, only the board's creator can approve/kill those.)
For the record, I am saddened, and very disappointed on a personal level, BUT I harbor NO resentment. I did spend hundreds of hours moderating this board, answering questions to the best of my ability, and building a good ibox (the original one was really crappy, 90% + of what's in there I added and organized,) fending off pumpers and bashers, etc. but I was sick and tired of the way many posters behave anyway (eons away from how things are done "in my world") and I learned that I wouldn't want to do this again <G>. I also have many other, more important things to do. Now I can go back to posting as a "regular guy" whenever I can.
These are the facts. Thanks for listening, and GLTA.
Well, time to update my sig!
#board-1909 Co-moderator, ERHC Energy (ERHE)
Buy when you can, sell when you should (I wish!)
********************
Now you know everything. Draw your own conclusions (Anybody interested might want to save this message elsewhere, who knows, MAC or this entire board might be kicked out next...)
Be well. Hope your investments are doing a lil' better now, I know you went through a rough patch.
No complaints were filed. None.
Because JC simply needs the money for family-related things. You are really barking up the wrong tree, Mr. Con-Pooch.
I'll second that.
May I add the following:
1) extraction and recovery technologies have made huge strides, from re-processing fields in Canada and the U.S. that had already been harvested to ships/rigs that were unthinkable a mere 10 years ago.
2) oil may be at $100 + a barrel quite soon, and will be permanently way above that within one generation.
3) as reserves are exhausted worldwide, #1 will be even more true, so will #2.
But you falsely stated that he SOLD shares.
"Or how about the ever faithful JC, ask him why he dumped his millions of shares on the cusp of signing the PSC, now that would be informative."
A falsehood (at best.)
Again.
And BTW, there's nothing wrong about one selling his shares when one needs money, which I have learned was John's case. So even if the sale did go through, you haven't proved anything.
I do note that you mention "on the cusp of signing the PSC." I have been away, but to the best of my knowledge this isn't slated for quite a while. Are you lying again or could it be that it IS in fact around the corner and you are trying to grab cheap shares (again)?
Newbies, see #9225 about Mongo1071.
Here you go twisting or inventing facts and trying so hard to aggravate people again Mongo1071.
How would you possibly know if JC in fact HAS sold anything yet? Oh wait, got a SEC link?
Bet you won't answer that one either (answer candidly, that is.)