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HP there are forces and people that are part of the problem with the current SP situation. I do not believe Phil is one of them.
Not sure how you can jump from what I wrote to this.
There's a tremendous difference (and amount leeway, i.e. grey area) between what I described and the extreme you depict.
Your words, not mine.
SH and fellow shareholders, you are most welcome.
For the record, I have asked Matt (IHUB owner) to restore #9550. I cannot believe it got deleted, and I'm 99% sure it wasn't BB.
I am not interested in "starting" anything, and as I posted I harbor no resentment. I just want others to hear FROM ME what happened, that's all.
You are welcome Mike. Sorry about the late reply.
About Mongo1071 and his 30+ million shares (DD and heads up for for newbies)
Here is a repost of BB's excellent post (#8843) and a few extra comments on this basher from my own DD below
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Mongo...that's correct. With a responsible and trustworthy partner, a farm out requires very little work. You might not understand the concept of trustworthiness and responsiblity. Your relentless bashing of this company all while accumulating shares for the group your involved with would give hint that you know little about trust.
Debt = ZERO (how many co's can claim this fact????)
John Coleman is fully entitled to sell shares. In fact, I'm not certain how he has been getting paid, so cashing in on some of his shares for this or that should be expected.
You state, "Heck it looks like they had a hard time running a operation with 3 part time employees out of shared office space". It seems to me the 3 part timers have done quite a job. The same shell of a company has been successful....yes, successful in landing awards in some of the finest oil exploration prospects on the planet. In fact, they managed to send XOM home with their tail tucked between their legs. They then took on APC and beat them for operatorship on block 4. Yep, those 3 part timers have done just fine. They've managemed to make solid business relationships with top of the line US independent oil companies and apparently have put together some awesome farm out deals. All said, they've done quite well.
The shareprice???? I'm quite convinced you fully understand who and what has kept our sp under lock and key. Hopefully all shareholders have a solid understanding of why and/or a group might desire a lower sp. I'm glad Offor has higher hopes for this company and I truely don't believe anything can be done without his nod of approval. Even with a deflated and ridiculously manipulated sp, I'm hoping all ERHC'ers can see the value of what they're holding. I know I can. This blatant manipulation should be evidence in itself of what we're actually holding. The mere fact that you have been relentless in your bashing should be an eye opener to shareholders that big bucks bring forth the largest and most efficient manipulators. You sir, are one of the better ones. I recognize that and welcome you. You want what I have and what most of us own. ERHC shares. You and the group you serve can be proud of your relentless efforts to drive small retailers out of their shares through your bashing. I believe we're getting close to the "core" group of diehards that DO understand the motives involved here and the reasons behind said motives. As a result, you aint getting the cores shares. Your motives are all about money. Lots of it. All in the shares of ERHC we own.
A debtless company working on binding contracts to explore prime oil acreage. Lots of prime oil acreage. Acreage so sought by our current partnerships that they are willing to farm out with some unheard of type deals. They know. You know. I know. You want. I hold.
Mongo, I could never do what you've done over the past year and sleep at night. Perhaps you look at it as the cost of doing business....or maybe even like an attorney doing his job defending a client he knows is guilty of the crime.
Conspiracy???? Nah. Everyday stuff in the market when dealing with a newborn that has a silver spoon in its mouth amounting to billions and billions of USD worth of top grade crude oil.
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My take
I believe Mongo is an ex, disgruntled ERHE employee or associate who got tons of shares for his services but also got the "Offor treatment" and holds a grudge the size of Texas (Offor treats you well if/when he can use what you've got, otherwise you are looked upon with disdain or utter contempt, and no, it's nothing personal, it' simply the way his culture works, I've personally known quite a few.)
Mongo decided that the way he would "get back at them" was by BOTH accumulating cheap shares whenever possible, via scaring the bejesus out of the newbies with posting ONLY twisted facts and negatives (all companies have those!) AND getting filthy rich by selling these shares when ERHE finally goes way up (he's no fool, he knows that he could well end up being a billionaire.) A very smart individual, he has been using boards' TOUs extensively to get posters he doesn't like kicked out and has been working towards his goals in a shrewd, extraordinarily relentless fashion.
Note that while he will whine that his posts are being deleted here, he hasn't denied that he owns 30+ million shares. He and his crew most likely control many more, but not enough to influence things, which makes them mad as hell.
For the record, Mongo1071 has long been PERSONA NON GRATA ON THIS BOARD. He has NO credibility whatsoever here and you can just go to the SEC filings (links available in ibox above) to see for yourself that he systematically posts half-truths and twisted facts when he uses them. Also, he has been asked MANY times to keep his $%^&* at RB. We moderators have asked IHUB for his permanent removal many times too, all to no avail (IHUB moderators CANNOT ban posters.)
Hope this helps. Just my 2 cents and my opinion based on lots of DD and experience with this individual.
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.
Nice find SH. This may narrow it down a bit!
Ditto, nwtf. In fact, many are much, much worse. I have seen some doing some unbelievably nasty stuff right out of a Sunday service...
Gotta see it to believe it.
Not a low-blow oilman57, just read your own posts. As others just pointed out this kind of stuff really belongs to RB, not here!
Sorry friend, you can be a part of the solution, or a part of the problem. PLUS, you agreed months ago to stop engaging the basher and playing his games. He is just like a 5 year-old craving for attention (and any cheap shares he can grab, he is VERY smart, posting half-truths knwoing he will be deleted and then immediately whining with the IHUB management that he has been deleted, he is among other things trying to get all the moderators booted from IHUB, so EVERYTIME YOU REPLY TO HIM, YOU HELP MONGO1071 WITH HIS DIRTY WORK)
Come on, can't you see that?!!
Claude, I just returned a couple days ago only to have the exact same thought!
We're doing our best. I was not surprised to see the usual bashers, pumpers, and freaks at work, but I will tell you that I am very disapointed that some of the known longs are engaging in that crap, and even seem to enjoy it.
For the record, moderators are NOT able to ban posters at IHUB.
Geez Mongo1071, another twisted answer, what a surprise.
BTW the reason your messages are being deleted is because you are a well-known manipulator/basher, and you have long been declared PERSONA NON GRATA here.
But you probably say you don't understand what that means...
And you can't even type my name right either...
LOL.
Nah, no burr, just a bit of healthy awareness. See 9165.
Have you considered RB?
Doug, can't speak for SH, but for the record, it took me just a few weeks of looking into ERHE and doing my DD to get up to speed on Redinvest's appalling P&D record (some say he's become an angel ever since he discovered ERHE... LOL... Right!) Ever since I have taken him for what he was/is, and given his posts corresponding credence, but hey, that's just me...
Can members of these groups really influence the price action of a stock in an organized manner? Doug, some stocks have been literally pillaged and ran into the ground by their ilk, and small investors have lost millions of dollars in the process. So yes, it's VERY possible.
I agree 200% that the company needs to address the PPS issue in a public manner. It's been long overdue.
I'd love to know too. You've got my addy...
So Max it bothers you when it's Joe Shea flipping but not Red? Oooops.
LOL.
Exactly. But based on experience their schitt will still be around, they seem to always come back, just like cockroaches. Some (Mongo being the best example) clearly take great, perverted pleasure in aggravating people.
I will second that. Redinvest and his crew are a well-known P&D outfit that works opposite (sometimes with) the Monkey/Mongo crew. But let's recognize that both have done a great job getting cheap shares from small ERHE shareholders!
JMHO of course.
Max, you've got mail.
Mongo1071's 30 million shares. Mongo you have still not replied to my question (post #9017) which was:
I hear you own/control over 30 million shares of ERHE. Is that correct?
As to my predicting a last buying op under a buck a year ago, of course I was wrong. More importantly, in your typical dishonest and manipulative ways, you fail to mention the most important part, which was "IMHO."
Now, back to my question... This board is all ears!
6' 4", 220 lbs, formerly Spec. Ops. I also run a company known worldwide.
Unlike little pretentious pricks of your ilk, I have always treated others with courtesy (even Mongo) on this board. You are VERY lucky this is happening on the internet.
I am just asking that we discuss THIS STOCK. If you'd like to start a different IHUB board for all your drivel, knock yourself out, I'm sure Matt would oblige.
JUST TAKE YOUR OT STUFF ELSEWHERE.
OT - Just saw it and replied (sorry, things are awfully busy.)
No, I, like most others here, want to keep this board sane and substantial, as opposed to the kind of drivel I have seen you post (just went back a few hundred posts.)
At least have the courtesy of starting with OT then.
Yup, got him all pegged. What a shame.
Mongo1071/flowinmymojo, why are you still posting here? You have been declared Persona Non Grata on this board for well over 6 months now.
What on earth does this have to do with ERHE?!
A "friend of rancho"? Sure...
My pleasure oilman57.
Quick question for you. If you are comfortable, as I believe you stated a while back, with a very long outlook (years) before oil flows and the SP really goes up, why do you STILL take the Mongo/Monkey bait? I was really surprised at how many time you did that. You may not have known how many millions of shares he owns, but by now you are very familiar with his tactics, so why do you care? Why not putting him on iggy?
Have you actually asked her how she gets paid?
I was unaware of an "old" IR firm in a ERHE closet. Can you elaborate?
Are you new on this board pistolpete? I have been away for a month but don't recall raeding from you before.
Spec, wake up!
Just open your eyes... Also, did you notice that he hasn't replied to my message (no, his post hasn't been deleted this time.) Yes, this is the man who has spent hundreds of hours here taunting, manipulating, provoking... and he knows full well that I have stated right here that I would completely ignore him (hence the "exception" wording.)
Plase see post #9038 as well.
Anyhow, even if he had 35 million shares the operative words in my message were own and/or CONTROL. He isn't working alone, but he IS mad as hell that their efforts have mostly been in vain so far (although you can be sure that he has gotten many a share from newbies he scared right off the boards.)
SH, thanks, I wasn't sure if you were serious or not, frankly you even sounded a bit snippy! Glad it wasn't so. Work was an absolute killer and it will take me a good while to recover from exhaustion but anyhow...
Why is how the IR firm getting paid important? For some stocks it isn't, but in our case, it is. ERHE has a long (and bad) record of paying everybody and their cousin only in shares (or minuscule cash + shares, with the exception of the new CEO) which is simply not healthy, ESPECIALLY when:
1 - A small fortune is already spent each month in "expenses" (where does this money go??!! And please, folks, don't start the "they travel so much" chorus again...)
2 - The loan/shares deal our Chairman set up in exchange for an appearance of "debt-free" status is a stinker for us shareholders in the first place. We'd rather have the cash spent on something that will INCREASE our value, instead of the appalling decrease we have been the victims of lately.
3 - With oil prices at very high levels, a SP at 1/5 to 1/10 of where it should be after awards of historic magnitude, and the vast majority of the shares being sheltered by Chrome/Offor offshore, some of the many people who were paid in shares over the years are bound to start getting really pissed and feel that they "were had" with the promises of a reasonably rising SP, moving to a big exchange, etc. (VERY true for some.) Can you blame them? It IS true that Offor has not allowed the stock to go up (he can easily control the SP by dumping/buying from offshore through using certain MMs, which may have been the case for months now) and may not do so until he pleases... and what if this is 3-5 years from now when oil starts flowing? On a side note, I believe it is quite likely that our simian basher is one of these people who got paid in shares (and kept accumulating) and isn't satisfied yet with the level of profit he can make on ERHE, hence his relentless and extraordinarily resentful manipulations on various boards (and alliances with forces that have similar goals, including the pumping crew.)
If Ms. Buks gets paid in cash upfront for at least SOME of her services, then we MAY have a change of policy, and we MAY be moving in the right direction with a more professional, upfront company. I would certainly welcome that.
If she isn't, then we probably still are stuck in the old ways with EO promising the moon in shares and micromanaging what the PR folk can say (or rather cannot say, as Coleman was simply ordered to send everyone to the filings, and one doesn't mess with Emeka...) That would NOT be good as ERHE badly needs to show more transparency and professionalism in several areas.
Has NO ONE on this board bothered to check when you got the news about the new IR firm? Tell me that's not true guys!
Mongo1071, I will make an exception, just this time.
I hear you own/control over 30 million shares of ERHE. Is that correct?
What kind of an answer is that?! I'm surprised Th...
Ola Pup! Thanks for the welcome back. The SP stinks, indeed. Anything else in that category, apart from the old fight between the Mongo/Monkey bashing gang and the SwingingK/Walldog/Redinvest pumping gang?
No answer?
This is NOT a trivial question. If Memon HAS in fact changed the way we do business on the PR side then there can be only one answer. Here is the question again:
"While I am encouraged by the new IR firm's drastically more professional approach (and a little birdie tells me that post #6685 had something to do with that hiring) does anyone know if Ms. Buks is "really" paid, or does she get ERHE shares for her services?"
PLEASE tell me that this board is on top of such important things! Thanks for any help.
Thanks Manti. Nice board VINOBBBY! Added to my favs...
Hi Manti, can you fill me in about that "$2 offer", I've been out of contention for the past month or so. Thanks.
I am back (on and off though) and I have a quick question for the board.
While I am encouraged by the new IR firm's drastically more professional approach (and a little birdie tells me that post #6685 had something to do with that hiring) does anyone know if Ms. Buks is "really" paid, or does she get ERHE shares for her services?
Thanks (I don't think I can go through 2,000+ posts and still have a brain LOL.)