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'jbofthecloth'... I predicted this a couple of months ago, i doubt anyone on this board is selling, it is someone with a lot of shares selling to crush the price... then buy back at a lot lower price,
they may get fooled though, i am not selling and most on this board will not sell.....on the face of it, it looks like a great opportunity for the MM's or a hedge fund to get a lot of cheap shares if they can panic people into selling, it may not work for them in this case.
a one year wait till they cash in big is nothing to someone with deep pockets, i believe it will get worse before it gets better. hang in there...The oil is there and the investigations are a non-starter
Most on this board are loaded, i would buy, but i have no more cash in my account, if i added some my wife would kill me....
Badog..spell Paranoid for me )
That's not exactly right Electric, and as well informed as you are i think you know it
you should have said "he can try it"..... If that acually happened it would draw severe investigation from the SEC...and invite class action law suits..SEO wouldn't want this, it would tie up everyone's money for years and cost enormas attorneys fees
I have seen this happen a couple of times over the years, it happened to a friend of mine several years ago....(he won in court)
The courts almoast alway come down on the side of the small stockholders, also if the majority holder acted on information not available to the smaller holders that would go to criminal court
i'm sure that some of the attorney's on the board can give the SEC rules that apply, if i remember correct, it takes a super majority to seal the deal. a simple majority just don't hack it.
Read dan2's message, he tried to buy 20K shares and the order was never filled, I am fully loaded, and like you if i had anymore cash in my account i would be tryng to buy, not sell at these prices, i think most on this board feel the same.
"Wouldn't those in the know be buying up our little minnow" ???
In order for them to "buy our little minnow" someone has to be willing to sell their shares..... I AM NOT, and i don't think anyone on this board will sell at this point.....the few shares that are selling are probably the MM's trying to generate some activity or some traders for a penny or two, they are not even relevant. 99% of the O/S are in very firm hands
I have read many theories about SEO's intentions, both good and bad on this board, but i have never read what seems to be the obvious to me.......
The reason that SEO wants ERHE in The USA or on the London exchange is for INSURANCE, pure and simple, Chrome is a Bahamas corp out of the reach of a political collapse of his influence in Nigeria, If he has a falling out with the powers that be.......... now or in the next 10 years and can escape Nigeria in one piece he will still be a Billionaire in the USA and pretty much safe here or the UK
Remember that political retribution can go as far as assassination in Africa, When there is that much money involoved anything can happen. I doubt that they would dare send a hit man here or the UK, only the Russkie's have the balls for that.
I am sure some of you will have a little fun with my theory, but of all the posters on the board only Homeport may see the logic of it.....the ultimate threat in the USA is "I'll sue you"...... no so in other parts of the world. IMHO of course
OT What is an Aggie Luaua ??
Six Aggie's sitting around a septic tank with straws
tokelly...I am certianly not trying to cast doubt on ERHE, I havn't sold a share since i bought in years ago..... what you are sensing is a little frustration on the time it is taking, in retrospect we should have expected it. the woulda, coudda, shoulda aspect rears it ugly head...true of all stocks, at least my stocks )
Yes, i think you are right, and that is what i said in my post. they are looking in ERHE''s office for anything to do with Jefferson, that is why the records are still sealed.As has been pointed out many times, ERHE didn't have the money to buy someone lunch much less to bribe anyone. IMO we are clean.
I agree Fishdog..... I still think this investigation is about Jefferson, ERHE's involvement is nil in any bribery case, there may be correspondence about Jefferson involving himself on behalf of the "South African" company in ERHE's files, which would be a negative toward Jefferson, and a plus for ERHE, as he was lobbing against ERHE, and for the South African company.. Any "campaign" contributions that Offor or Chrome may have given to Sao Tome politicians is even legal here in the U.S, and a requirement in Africa....
I would remind everyone that the Fed's have a 98% conviction rate, they may take a couple of years to investigate, but when the go to court it is usually a slam dunk, they not only look under every rock but also under every pebble. If Jefferson is smart he will plead out for about 5 years and a large fine before he goes to trial in Jan. If he doesn't, he will probably get 25 plus years and the Feds will take everything he and his whole family has, as he is being charged under RICCO as they were involved through various Corp. enities.
On a personal note, I to am pi$$ed off that i have money invested for so long and now can buy in cheaper than my 37 cents average, the sad part is that it may get worse before it gets better. but i sleep OK at night, our rights are under an international treaty and kissed by the world bank so our rights are secure. I am hanging in because i believe when it all falls together it will happen so fast that anyone not in won't be able to get in at a reasonable price.
O.J Chidolue, an attorney and member of the editorial board of USAfrica
I googled his name and found his name in an article of USAFRICA.com
Who is O.J. Chidolue ?? what is his connection to ERHC and Chrome ??, is he an American or a Nigerian ??
Any speculation as to what his involment was ??
Good find NDT, that sounds very positive to me......From the tone of his statement it does seem he is going for the long haul..... ERHE for upstream, Chrome for the downstream.....with his connections he probably can pull it off.
Maybe by the time we are ready to drill our 2 100% blocks in the STPEEZ (2 or 3 years down the line) we won't need a partner, that would put our SP into the fantacy zone. IMO
Walldog...You may be right,I don't believe there are many weak hands either....but i bet they try....someone sitting on a few million shares could drive the share price to the basement, then buy them back along with any that they could shake loose
I for one am in till first oil or bust.....maybe i am just preparing myself for the worst case senerio....it would be fun to watch them get their head handed to them....i hope you are right.
NO, i expect it to get worse before it gets better, we have a year before the first drill starts to turn..... sometime before then some hedge fund with very deep pockets will try to get all the shares they can from the week hands....not important to the true believers..... hang in there, rough days ahead.... IMHO
Mark... i agree with you about Oily, i been saying that for a year..... i tried putting him on ignore but that didn't do any good because of all the comments from other posters.
I am annoyed with Electrics BS also, which usually consists of "I know a LOT, but i can't tell you peasants" none of them know anything. even your source at the JDZ is "IFFY" on timelines
We have a year before the drill bit starts, probably in about 6 months the SP should start to go up. What do you think ???
Hedge funds, it always works for them...... sell now, drive the sp down then buy back...... expect a whole year of that or until some positive news.
BOB..... yes, i think they are right with their prediction. (Pain expected) etc......it will be a year before the drill bits start to turn, sometime in that year,i expect to see some group, or hedge fund try to take the stock to the basement. given their expertize i expect them to be sucessful, On the other hand, there are many positive things that can happen to ERHE that could screw them royaly.....
I am trying to train myself not to watch the SP.....if it goes low enough i will try to come up with more cash to average down with.(my wife will kill me)
We have been through so much, it would kill me to let the Hedge funds screw me (again) Hang in there. FIRST OIL OR BUST, which ever comes first should be the mantra of everyone on this board.
Latest on Jefferson probe
http://www.wwltv.com/local/stories/wwl041807jbjeff.21f0c432.html
OT...Some may/may not find this humorous
http://www.glumbert.com/media/irack
kuxe0...The German report is mostly wailing about the "poor" people of Sao Tome, corruption etc.....also many inaccurate statments about the oil..... nothing of value there.
Tryoty... unless they take out Adaxx too.... they could do that with pocket change when you consider the mountian of dollars they have
Many things could happen besides drilling to bring the pps up, a good announcement by CVX, resolution to blocks 5 & 6, awards in NEEZ, acquire something in the delta cheap, resolution of the investigation by the DOJ/SEC.....political situation in Nigeria working to Offors advantage....not to mention a buyin/buyout by a major....I can think of many more, anyone that sells or trys to flip for a buck may be really sorry. drilling is the brass ring.....
DegenerateGambler..... point taken.....thanks
Night..... we should know something soon as evidenced by the Dummy text in their website....this could only mean the site is under construction by a professional....when finished it should give us Officers, the what, and why..... Maybe
This is dummy text..... they are probably working on the website
http://websitetips.com/articles/copy/lorem/
Yes definitly to many fortnights,,,,, unfortunately i believe we are in for many more....i doubt that anything will happen till we are proven, then the big boys will pay what ever it takes to get us out of the picture.could be a couple of years for the JDZ
Their may be some hope for the share price if offor has influnce with MEND and can buy up leases in the delta.for sure there will have to be some accomadation with MEND...at this point they are on the side of the angels, the Gov has been stealing from them, so far thay have been very restraind about killing people, they are just in the "pay attention to me" stage now ......they just want their fair share as i see it.
There is still blks 5 and 6 to be settled, then the two 100% blocks in the STPEEZ....
I am reluctant to believe Oily or even Electric or even Sfreed about the buy-in. I think WHEN it comes it will be a BUY-OUT...I am not sure a buy-in would help us that much, i am in for the long haul, so for me, i would rather wait till we are proven, then Offor can make them an offer they can't refuse. IMHO everyone should just calm down.
Yes, i thought that is what i said, been very busy today though... it sure wasn't clear when i re read it.
The shares to Atlantic bank did come from Offors shares, then he took shares for ERHE's debt. that made it a wash as far as delution went.... Thats how i remember it anyway
More trouble for XOM and CVX et al
Chavez has requested special powers twice before.
In 1999, shortly after he was first elected, he was only able to push through two new taxes and a revision of the income tax law after facing fierce opposition in congress. In 2001, by invoking an "enabling law" for the second time, he decreed 49 laws including controversial agrarian reform measures and a law that sharply raised taxes on foreign oil companies operating in Venezuela.
This time, the law will give Chavez a free hand to bring under state control some oil and natural gas projects that are still run by private companies - the latest in a series of nationalist energy policies in Venezuela, a top oil supplier to the United States and home to South America's largest gas reserves.
Chavez has said oil companies upgrading heavy oil in the Orinoco River basin - British Petroleum PLC, Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), ConocoPhillips (COP) Co., Total SA (TOT) and Statoil ASA (STO) - must submit to state-controlled joint ventures, as companies have already done elsewhere in the country.
The law gives Chavez the authority to intervene and "regulate" the transition to joint ventures if companies do not adapt to the new framework within an unspecified "peremptory period."
I second that motion......
He hasn't been right about anything to this point, why people on this board even discuss what he says is beyond me...... his cryptic messages has annoyed me to the MAX.
I am holding 60K shares and consider myself a "small" investor, many on this board are heavliy invested, that is why they freak out on occasion )
If Offor decides to keep ERHE and build an oil company, we will probably be moving to the AIM
By David Wighton in New York
Updated: 2 hours, 44 minutes ago
New York is facing a threat to its position as the world's leading financial centre, according to a report commissioned by Michael Bloomberg, the city's mayor, and New York Senator Chuck Schumer.
If current trends continue, New York could lose up to 7 per cent of its market share, equivalent to 60,000 jobs, over the next five years. But much of that loss would be prevented if the US implemented legal and regulatory reforms, says the report by McKinsey, the consultancy.
Mr Bloomberg and Mr Schumer commissioned the study amid increasing concern over New York's declining share of global capital markets activity.
Concern has focused on the rise in the number of foreign companies choosing to list their shares in London and Hong Kong rather than in New York.
The report, to be published on Monday, says New York has also been losing out in areas such as derivatives, where Wall Street chief executives say they have been shifting business to London because of its more attractive legal and regulatory environment.
Financial services employment in London rose 4.3 per cent to 318,000 in the three years to 2005, while it fell by 0.7 per cent to 328,000 in New York, the report says.
Mr Schumer said the study showed that New York could lose its leadership "not just for IPOs but for all financial services, all too easily and all too soon".
McKinsey based the report partly on interviews with 50 financial services chief executives. There was a consensus that New York had become less attractive than London over the past three years, and many expected the trend to continue.
A senior member of Mr Bloomberg's staff said that while New York would lose some share because of maturing capital markets in Europe and Asia, the decline could be "substantially" stemmed if the report's "very realistic" recommendations were put into effect.
These include clearer guidance on the Sarbanes-Oxley corporate governance rules, securities litigation reform, promoting the convergence of accounting standards, and easing visa restrictions on foreign professionals.
John Thain, chief executive of the New York Stock Exchange, warned last year that the competitiveness of New York was being undermined by the litigious US climate and Sarbanes-Oxley.
The fears prompted the formation of a panel of Wall Street executives and academics, with the backing of Hank Paulson, US Treasury secretary. In November, the group called for similar reforms.
Chuck Prince, chief executive of Citigroup, recently forecast continued "diffusion away from New York". In the fourth quarter of last year, Citigroup's corporate and investment bank earned more in both Europe and Asia than in the US for the first time.
Copyright The Financial Times Ltd. All rights reserved.
New Chinese economic policy, may help us....
http://www.ft.com/cms/s/07448d3e-a985-11db-9185-0000779e2340.html
Tryoty.... that would be true is we wait for the technology where each car has its own fuel cell.... that is not the way it will be..... you will go to a "gas" station to fill up your hydrogen tank.....when the tech arrives that a fuel cell is small enough to fit in a car, we will also power our homes with indivual fuel cells... and everything else, I don't buy into all the doomsday senerios promoted by all the petro- traders.....we still have time to make a few bucks from oil though..... )
Magic... That will never happen, if the economy in the US sputters the rest of the world economy dies..... who would buy China's widgets, who would buy anything from Europe??.....The Chinese ?? I doubt it.
It amazes me why the Euro is so high against the dollar though, Europe with their socialist goverments and high unemployment rates, short workweeks, Etc Etc.
We probably need higer interest rates here to boost the value of our currency....the problem is, higer interest rates would probably cause a recession here, and the world economy would stagnate
A difficult high wire act for sure.........