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Perfect,
But one thing is true about businesses, you can learn/hire/buy the know how. But it is difficult to get good acreage if it's already taken! Even Total started once, I'm sure the Russians can too.
Cheers
Brez
spp119,
Do these guys count? http://www.eurasiadrilling.com/
offshore drilling since 2006 after acquiring Lukoil in 2006. Sorry couldn't find a better one for you only had 30 secs for Googles and 30 secs for this post!
Cheers
Brez
We must be TOTALy missing the point!
Brez
Yes, Russians, Chinese etc.....evidently there is no oil there...
Cheers
Brez
Agree,
A whopping $9K traded hands so far. Forming a new base camp!
Cheers
Brez
The thing to keep in mind is that, I believe the SP will steadily increase during that timeline. Off course we could be pleasantly surprised with a full disclosure of JDZ results by Sinopec. As well a listing on the AIM, resulting in the release of new favourable NSAI figures. As well, the potential for a buy out any time really.
So, if my timeline is the only thing that happens, then I believe we are still looking pretty good with a steady SP increase. Anything more and we could get catapulted in the Bozosphere!
Cheers
Brez
Thanks Majic and others who have posted this news.
Just like we said before we can see that once the bidding process is closed it will require time to announce the winners of the blocks
"...After receiving the bids, the ANP has 60 days to analyse them and submit its report to the government, which will in turn take several weeks to make a decision. The companies will then be contacted and informed about the level of participation in each bloc..."
What this means to me is that the bidding will be closed on 15 Sep. Analysis of bids will take place until mid-Nov. Mid-Dec to decide the awards. Mid-Jan to allow communication with the winners and payments. Once those payments have been decided, a " monetary worth" will have been placed on blocks. These worth are obviously predicated by 2D seismic available, desired locations etc. Once this normalized baseline of how much a block is worth is determined, that is when, imo, that ERHE will announced their partnership for their EEZ blocks. I have no doubts that they already have the usual suspects at the negotiating table, with percentages etc discussed. But the selling price will be dependant on the normalized price that other blocks fetch.
So I see this for the fall:
September; EEZ auction closes, phase II JDZ announcement
October: Potential results on JDZ results (just a guess, they can come anytime in any form!)
November: Announcement that EEZ Operators have been selected and negotiations are underway. News of delay with AIM listing (just a guess, since I believe the AIM listing is a "feint" for negotiations).
Dec/Jan: ERHC announces partners in EEZ with a cash inflow.
I probably left out lots of little events, but these I believe are the big ones. I see this as a nice and steady SP climb throughout the fall and Xmas.
Just my opinion
Cheers
Brez
Yes it does,
But let's see, if I believed in MMRF and needed the cash. Knowing that things were going to go south in ERHE. Let my 500k go in March at .7 or $350K than rolled that slowly into a .09 cent stock (or even half of it) sold it between 25-30 cents a couple of months later I'd be sitting very close to a cool Mil.
But that's neither here nor there. I do believe that we have good assets here and I do like the chart that you posted yesterday.
Cheers
Brez
Red,
The way I see it is that if we do close that gap, and I believe we will, we will bounce off of the .55 then maybe retrace a little.
By then we'll see how close we are from the 50/200 MA crossing which could bring it up some more.
That's just my guess on basic charting (or sharting if you prefer :0) ).
All the above without any news or releases just on emotions and chart. If we get anything positive in term of release it will actually make better quicker.
imho
Cheers
Brez
Was that a 80k block at .39 that just went through?
Cheers
Brez
No sweat Strass,
I have no control on how others wish to represent themselves on the board, I can only control what I type. Until I loose it, than thankfully someone yanks on my chain and I snap out of it!
Cheers
Brez
Thanks to all who gave me the link for the spreadsheets.
Strass,
I'm in a somewhat agreement with you that the information is basically a company doing a good job at cross referencing multiple sources to do what we all do here, which is speculate on the potential worth of the company. Therefore they have what we have.
One different spin on what you wrote Strass. Your comment "more of a product to keep hope alive " implies negativity. I on the other hand think that if a company like Quest is evidently pointing towards a positive outcome (one way or another), via there own research, demonstrates that our own research and evaluation of facts as they are presented to us have a higher probability of positive outcome than a total failure of the company. This does not give me hope, this gives me confirmation that my beliefs are not out left field and that this investment is still on track.
Therefore I easily conclude that this stock is worth more than the current SP, therefore I happily hold until the next event and re-evaluate (notice I did not say accumulate, if I was low on shares I would be, but I have all I can afford!).
Cheers
Brez
??????? You guys want to let us in on this???
Thanks
Brez
OC,
C'mon Strass turned over a new leaf last week! He showed great restrain with a twist of humour!
You got to give the devil his due!
Cheers
Brez
That's the spirit!
Cheers
Brez
SNP and Total have now entered without full disclosure. So they must have something that others didn't! I'm betting that its a combination of "finance", "willingness to spend" and "infrastructure".
Cheers
Brez
Yeah, it's been a while asn't it!
Cheers
Brez
Man, you would pass up a quick buck! I thought you were looking for .64!!! :0)
Just jousting dude
Cheers
Brez
Great, then they will at least close the gap at .44. By then they will figure that the 50/200 MA Golden Cross is eminent and will buy some more.
By then we'll be in Sept/Oct and people will stick with it to see what's up. Who knows what might happen between now and then.
Either way the SP is going up, and that's good. I hope that by Xmas you are rewarded for your patience!
Cheers
Brez
Strass brother, you don't have to agree....just be happy man!
Rasta Brez
DG,
I find today a nice light discussion day with positive undertone. Hence the board is in better humour the SP goes up?? How about that...
Cheers
Brez
stable oil price is very good. I see .35/.355 but it's nice to see 20k shares go through at .35.
soon it will run away!!!! (obvious pump don't buy because of that line!)
left foot, right foot just one step at a time....
Brez
DG, thanks.
My position/belief here are fairly well known, I believe that we are going to gradually go up as events unfold. I also believe that we have a micro-trading market on the board and members can be manipulated by the mood of the board, unfortunately. If I look at the big picture I only see positives (not in any particular order and not complete by any means);
1. Blair's arrival - check
2. SNP with cash - check
3. Chinese economy needing fuel - check
4. ERHC getting their EEZ blocks without a fight - check
5. Total getting in the JDZ - check
6. SNP buying out AXC - check
7. New NSAI report preparation - TBA
8. No insiders selling - check
9. SEO still able to exert influence in Nigeria - check
10. Free carry or no immediate high expenses - check
11. No immediate lack of funds so we have time - check
12. Found some form of hydrocarbon in all holes - check
13. Most oil companies are still making record profits - check
14. Listing on better market - TBA
ok, enough pumping. In short, I have been accumulating small amounts from the mid 30s to low 20s. I do have enough shares so I only buy small amounts now. My next buy will probably be a small one when SP reaches 50 MA, either with downward price or 50 MA moving up.
Cheers
Brez
DG,
I looked up the site and I got a "under construction" sign? Did you spell it correctly?
Cheers
Brez
I believe there are a lot of subjective factors; listing on OTCB, Nigerian connection etc, which can throw a model out of wack! We all believe (ok at least I do!) that if we were listed on a different market we would have been in the $1-$2 range currently.
Good news, Management probably believes that too, hence the AIM listing steps.
Cheers
Brez
Sweet...
Brez
Good morning folks! Now let's all have our coffees before we come out swingin'!! :0)
Brez
Nice Krom but one thing, if I may. The EEZ auction closes mid-Sept. The results themselves probably will not be announced for another few months due to evaluation and backdoor dealings. So I look at results more towards Dec/Jan.
But on the other side of the coin, I see the closing of the auction a time where results from the drilling campaign can no longer influence the bidders or disadvantage SNP. Therefore more comprehensive disclosure of the results may occur.
Cheers
Brez
db,
I agree with your statement and would like to add that I am speculating that the SP will probably capture the 50 DMA at least for a couple of days before it will start an ascend through the 200MA. So Therefore just for gags and giggles I'm going to put dates on this;
1. Touch 50 MA by the end of August;
2. Touch 200 MA by middle/end September;
3. The 50 will cross the 200 in October; and
4. Break 52 week high by XMas!
Good luck to us.
Cheers
Brez
PS. This is pure POOMA, do not invest on this (even though I am !)
I wish I was! I'm horrible at it, that's why I only buy when I don't mind waiting so I don't have to feel bad over it!!
Cheers
Brez
Dude,
Did you miss the pump and dump? That's a positive, you could have bought back in over the last month and double almost tripple your position or invested into a number of Health Care stocks!
Cheers
Brez :0)
DG,
I don't think you are throwing a wet blanket over BB's post. The "just" of your post is correct. The Market doesn't like unscertainty therefore within our current constraints (OTCB, management etc) we sit at .30. That part is a no brainer.
But me, as a speculator, am betting that the market will catch up to my belief (not coolaid drinking, beliefs) and will match my expectation in valuation.
Steve Jobs commented on the first iPhone price drop by saying that the early adopters don't mind paying a high price for the very first iPhone because they wanted in first. Well I didn't mind investing in ERHE back in 2003 because I wanted in first, before the masses jump in and before I accumulate my desired position and my "high price" for being an early adopter is and has been, "time".
If you are saying that nothing will happen tomorrow you are correct, in my opinion. If you are saying the company is not worth much because we are at .30 cents and the market says so, then I respectfuly disagree.
My toughest buy was when I loaded the boat when we were at .12 cents. My mind was screaming "The market doesn't like it, danger, danger..." but the speculator in me said, this is rock bottom the assets will work eventually in my favour. It did. I just happen to believe the same now that we are at .30. I believe that the market will eventually work in my favour. This year, next? Who knows, but I'm betting (speculating) on my beliefs with my money and enjoy discussing with like minded investors. I am not afraid of Pros and Cons, I just don't like single minded Cons just for the sake of Cons with no rhyme or reasons.
Cheers
Brez
Strass,
I join a flying club to meet and talk to like minded people who enjoy flying. I usually don't like the occasional flyers who continuously state the obvious about the dangers and cost involved with flying, I can figure out those by myself.
I join iHub ERHE board to find like minded investors who are enthused about the stock, I can figure out the risk involved all by myself. If occasional investors continuously state the "realistic" negativity, I usually don't like their posts. If an investors finds negative news and passes it on to us with his/her analysis, I'll be very thankful! If that investor continuously harps on the same negative news until a new negative news arrive and then harps on that one, under the flag of "realisms", then I will no longer appreciate his/her posts.
Cheers
Brez
Strass, but some here have become so critical, and wanting to believe only once a large sum of money is deposited into their account that they have left the ranks of "speculators".
We are all speculators, if some of us are not speculating that the SP will go up, what are we doing here? (I guess shorters will speculate that their skills will help achieve the opposite!)
So basically this board is nothing but bashers and pumpers, no middle ground. No speculators that are hopeful for their investment. Only realist which keep pushing the obvious lack luster SP are correct, until a large sum of money hits their account.
Let's say, just for argument sake, that a buy out one day occurs. A large sum of money hits your bank account. You will then say, "well I guess I was wrong" in one post. Meanwhile, must we be subjected to 100's of negative post on the premise of obvious realism??
You don't have to agree with opinions, but you certainly can throttle back your negativity, perhaps too every other day or so?
Cheers
Brez
BB, thanks for your thoughts. It's seems to make so much sense to me that;
1. Had the JDZ been a bust, we would have been gone a long time ago;
2. Our current team is too small, too inexperienced to do what they do by themselves. They are riding someone's coattail.
3. The sale of ERHE is just a question of price. That price can only be proven by the amount of oil that is found. To find that oil, we need a drilling campaign with technically and financially solid partners. This is exactly what we now have, technically and infrastructuraly (?) solid Total and financially solid SNP.
I am one which is a believer in the dots you have connected, the price value at this point is not important, but the mechanism which you lay out for an eventual buy out is logical, to me.
thanks
Brez
Thanks
Cheers
Brez
Julius,
Thank you for passing on all the communications from DK. Could you please include dates with these comments so that we may situate exactly when they were made or sent to you?
Thank you
Cheers
Brez
ERHE is doing well to meet the toughest standard, based on regulation, that will keep their noses clean for foreign investors to trust this company and invest in it.
In Canada, strong Housing Markets (plateaued really), financials were saved from the 08 debacle due to different regulations which does not allow practices that were carried out here in the US. Nobody can be perfect and the right balance is always hard to achieve, but striving for it is not optional for this great country.
Respectfully
Brez
edit: I should have kept it short, "economy in general, i.e. low unemployment, booming housing market, strong monetary policy, and improving GDP" all due to stronger Government regulation.
Great post BB. I personally don't care which language she will sing in, as long as she sings!
Your opinions are always appreciated by me!
Cheers
Brez
Tamtam,
Thanks, the festival sounds great! If only ERHE could go through the roof, we would join you!
Cheers
Brez