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actually no...
From april of....2007
While in Nigeria, Mr. Ledbetter also participated in meetings with
the Joint Development Authority to build trust and strengthen ERHC's bonds with the organization. He has also been exploring prospects in the region for ERHC and met with several parties who might have
interesting opportunities for investment by ERHC. Nigeria, as many
shareholders are aware, has announced it will soon auction
exploration licenses for 45 offshore and onshore oil and gas blocks. In addition, marginal fields which might provide good investment for companies of ERHC's size and capacity are starting to become
available. ERHC is seriously looking at all available opportunities right now and assessing them for feasibility of participation.
yes, they have been saying this since 2007 and probably before...way before any type of drilling was close. no wonder every PR where they have an iteration of this is laughed at.
thanks for posting brokeback...your posts are always worthwhile and valuable :)
that was because there was a revolt and the military forced him out...he definitely didn't go willingly. unfortunately, most of the shareholders here are all too happy to sit on their hands and do nothing and keep waiting (some for many, many years). PN is firmly-entrenched and has no incentive to not keep collecting a nice paycheck for doing god knows what.
That makes soooo much sense. Used?
yes please.
the best thing is for everyone to report his posts as off-topic TOS violations. the more the better. eventually the crack staff at ihub will catch on
exceo - for the most part, from what I have read, you and I are generally on the same page in terms of our frustrations with this company and this management. that said, I really don't believe there are some super-secret negotiations going on or some sinister plan...and i dont think an organization like reuters is being paid to write hit-pieces on a penny stock.
From all my DD, I gather that phase 1 was not very successful and now it's just a matter of SNP deciding whether they want to risk hundreds of millions of dollars on something that no longer seems much of a sure thing (phase 2). I dont believe there will be any buyouts anytime soon because there isn't much to value erhc right now - no one at this time will spend billions on erhc based on just hope. and if there were negotiations going on to buy us out at the numbers batted about around here, I can GAURANTEE you we would not be trading in the teens.
I do however believe that Phase 2 (I believe it will happen) will be much better and a buyout would happen soon after...if successful.
be careful of the "gurus" on this board. most are wolves in sheeps clothing and their mantra and dots have some how seeped into the board's sub-conscious and has everyone wearing tin-foil hats.
it's always a conspiracy on this board isn't it?
its actually >250mm shares or 48mm dollars left in the shelf.
I agree majic - a derivation of that phrase has been in alot of PR's going back at least 3-4 years.
I do find it interesting that the one's that complain the most about MTO are the one's that respond to him the most....
like banging your head against the wall and then b*tching about how it hurts.
PR out...nothing new. Not even a quote from PN!
edit: sorry one nugget of new info but it sounds strangely familiar:
During the first quarter, ERHC's general and administrative expenses
totaled $1,220,493, which represented an increase over the first
quarter of the previous financial year. The increase was primarily
due to expenses related to the Company's proposed listing on the
Alternative Investment Market (AIM) of the London Stock Exchange and
to activities related to evaluation of potential acquisitions, at
least one of which is currently in an advanced stage of negotiation.
There's this thing called observing and studying the past and learning from it: experience. See opposite : burying one's head in the sand. You really think there will be anything new in the PR.
Ps I truly hope I am really wrong.
awesome - can't wait for the super lame PR they issue in the morning. 333,000 on the AIM with nothing to show for is disgusting. we should've just donated the money to strand hanson's favorite charity.
most likely not...but nice try. I know you can do better than this pongo. bush-league.
krom - I truly hope that is the case. I would love to see us do some trading of %'s. Let's hope management shows a little innovation with this instead of just straight-out dumping shares at depressed prices. fingers crossed.
actually in the real world, that's not exactly how it will work. IF (that's an IF, I have no idea how management plans to do it) the bidding price will be funded through dilution, who in their right mind would buy before that? the spector of dilution will weigh on the SP and there won't be that much appreciation. that will result in >250mm shares being dumped on the market if all 48mm is used up. it would have to be an absolute blockbuster deal to make up for that. all our dreams of getting to bucks/a share will be that much more difficult with such a huge float.
all in my opinion.
deleted
These guys had nothing to do with securing our rights. Can we please stop grasping at that straw?
tamtam - I agree in general but I think that particular post is about as honest as it gets. the assets are great, management stinks. there's alot of proof to both of those statements.
so we should lie to new investors? solid morals...
yeah i wonder what happened to angryasian? he seemed to be well-connected at one point.
haha - thanks krom. i hate to keep beating a deadhorse with this guy but he's impossible. he shows up on the date of the R&R "presentation" (when the secondary was most likely close to completion) and misrepresents a ton of stuff ever since. i'm usually not suspicious by nature but alot of red flags are flying for me with him.
constantly back-tracking...
dude - that was my point. strat1 said you could short against the box as a tax strategy (to not pay S-T cap gains). I said that was no longer the case. you can look up my posts to see it. you make things up just to suit your agenda
strat1 proved he didnt really know much about the deal. he flip-flopped on it and didnt even understand the concept of shorting, borrows, boxing shares and the tax consequences...i hardly think he has full grasp of the situation.
thanks for posting brokeback.
i guess I should expect passive-aggressiveness to increase as I grow older? please teach more oh wise elders) you guys are funny sometimes...and I used to think you were one of the better posters here...
that is the worst-worded poll question I have ever seen. talk about tipping the scales to one direction. the fact that you are using that as your proof says it all. you're really becoming laughable. what was your born-on date again?!
really??? you truly believe this?? you are so FOS some times that is has to be a joke. Funds short these PIPE's ALL...THE.... TIME. ESPECIALLY with penny stocks as they can usually rake these small companies over the coals. I'll simply leave it at that and chalk it up to your inexperience in this type of market.
duplicate...
go back and read his last 20 posts. they are all over the place. he first says he KNEW and CONFIRMED that funds were short. i have a hard time believing that that changed. i will simply stick with what i know about these deals...the buyer almost ALWAYS shorts. you like technicals and probabilities...the probability is not in your favor that funds did not short this deal.
strategyone confirmed the funds were shorting...so not sure what you read from him.
geee...doesnt that sound EXACTLY like what a few of us have been saying the whole time on the secondary??? but according to TOB, it was all BS and it was good deal.
it's a sad commentary on ERHC when shareholders are using tax season as an excuse for a possible delay for an oil company
general markets on fire - erhc goes down. will we get an update soon? if so, will it tank the price even further? frustrating.
If you don’t know where you are going, you might wind up someplace else – Yogi Berra
Dance like it hurts, love like you need money, work when people are watching
lol - you dont pick up things very quickly do you??
remember the golden rule: he who has the gold makes the rules.