You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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Does anyone one believe the SP will get back to a penny or will it go to a half cent?
I would bet on a half cent before I would would bet on a penny. Just saying.
Make that 5.6 mills! How low can you go!
Make hat 6 mills
I would think at 7 mills this is another buying opportunity. However, the problem I have is with the company's finances. Peter refuses to cut expenses, especially the salaries as the company heads towards Bankrupcy. Can it survive to see drilling? We can only hope as Peter continues to deposit his fat check.
WOW! Did I miss something?
The article state "... after ERHC Energy Inc announced plans to sell a portion of its assets in Kenya and Chad."
Where is this announcement? Did ERHC issue a PR about this plan?
What the f...k is going on?
Yes, I hedged my bet. But I only hedged the IMO in that the SP would drift back down to about 1.5 cents, on the condition of NO good news. What I believe is the price will go down unless there is good news. I think most here are on a false belief that the SP price will continue up up and away without any news. That is not going to happen, only good news can bring this stock back to the 3/4 cent range. That previous pop to 4 cents has already been corrected to 2 cent. IMO, the correction is not over, and the one's will soon return. I am trying to help you and Umbra understand my thinking, I am saying the SP will down or it will go up unless news causes a change. Does that help?
Although the AM the bid price is holding strong in the mid 2s (cents), I still expect a fall back into the high one cent range later this week or next. I believe some of the toxic financing shares will soon be unloaded and push the share price down. Of course, if there is an SEC report indicating management has bought a substantial amount of shares, all bets are off.
Middy, maybe you missed my post on Friday after the close or have me on ignore. Next time give me credit when you repeat was I post. Here"s the post:
DegenerateGambler Friday, 01/02/15 09:49:07 PM
Re: oil-cowboy post# 295449
Post # of 295550
Not to be a Doubting Thomas, but I have seen the SP shoot up many times in the past and then quickly fall back down, showing only a small increase after all the smoke cleared. Only a few months ago the SP shot up to 12 cents interday only to fall back to 10 then drop even further over the following days. This like many other quick bumps up was not based on anything that could be pinpointed (as in good news), just like today's increase. My guess is that the SP will be in 1-1.5 cent range next week, unless of course good news is released. My guess is that ERHC's management put in market order to buy instead of a limit order and the MMs took advantage of this and sold them shares between 3-4 cents. This should come out out in the SEC filings real soon. But all this is a WAG.
I am envious of all those here who gobbled up those cheap shares under 1.5 cents. But I do believe there will be more buying opportunities around one cent in January. I will be ready the next time around, but I do not know how to get this by my wife. Bringing up ERHC causing a great deal of discord that I do not want. There is nothing I can say that can justify buying more ERHC.
Not to be a Doubting Thomas, but I have seen the SP shoot up many times in the past and then quickly fall back down, showing only a small increase after all the smoke cleared. Only a few months ago the SP shot up to 12 cents interday only to fall back to 10 then drop even further over the following days. This like many other quick bumps up was not based on anything that could be pinpointed (as in good news), just like today's increase. My guess is that the SP will be in 1-1.5 cent range next week, unless of course good news is released. My guess is that ERHC's management put in market order to buy instead of a limit order and the MMs took advantage of this and sold them shares between 3-4 cents. This should come out out in the SEC filings real soon. But all this is a WAG.
Without getting into all the calculations of the so called toxic debt, I would like to keep it simple and take a broader look at ERHC's financial picture. The cash burn has been about a $1M every 3 months (since the company refuses to implement budget/salary cuts). Now drilling in Kenya is expected to start late 2015 or early 2016 at the cost of $30M. The important fact here is that ERHC is responsible for its share of that $30M. By my calculations (based on info from the 10K) that amounts to $30M x 0.35 x 0.25 or $2.625M. That bill is coming due in about a year. Where is that money.coming from??? If ERHC does not come up with the money to fund their portion of the drilling costs, would the drilling take place?
But most important where is that $2.62M coming from. Please don't tell me from more toxic debt. Please tell me the company's new financial advisor will come up with a solution that does not depress the share price down even further or dilutes the current shareholders into oblivion. (although I always wanted to know where oblivion was).
DeGen
Have you discussed this investment with you wife? or are you single?
I see mostly balls and one cock. Have to agree, it is very difficult to invest any more money in this stock, especially if you are married.
DeGen
PS: Its a shuttlecock by the way, so please do not delete this message.
Yes Loveme, the odds for SEO were also posted:The line at BETONANYTHING.COM was:
SEO would buy stock +8.50
SEO would NOT buy stock -10.0
Shares must be purchased by Jan 15, 2015
I found it very interesting that for SEO to buy shares was a long shot. This is a very bad sign and it should follow that SEO knows that the company is in dire straights.
The fact that the real management is a favorite to buy stock is only because the management wants to make a token act to show they believe in the company, when in reality they will only buy a small amount (under $10,000 worth). More games by smiling Peter to throw the shareholders off. He needs to keep his salary coming in, so this plan was put into place to help the share price so funding could be obtained more easily. All above is IMO. Believe what you want to believe.
When I was looking to make my football bets for this weekend, I noticed there was a line posted on whether ERHC's management would buy any of their company's stock.
The line at BETONANYTHING.COM was:
ERHC management would buy stock -1.50
ERHC management would NOT buy stock +1.30
Shares must be purchased by Jan 15, 2015
I found it very interesting that buying shares was a favorite. This is a very good sign and it should follow that the share price should be going up.
However, before the SP reacts to this buying, I believe the SP will be back under a penny during the last few trading days of the year. This will be the last minute tax loss sellers finally getting out. This should be a great opportunity to buy at a very low price. For those flippers who want buy low and sell high after the SEC reports purchases by management.
DeGen
Merry Christmas to all!
My wish is that the SP stays out of the "mills" and gets to the "teens".
I am 100% behind you when you say cuts must be made. It appears ERHC goes along on its merry way with little thought about where the money will come from. Now a new PR about the EEZ but no where is it explained where ERHC is going to come up with its share of the costs. Do they realty believe that they will be given a free ride (carry) in today markets. They are not in Kansas anymore. Oil is way down and they have little or no money. iMO, this PR will bring the SP down even further. The SP is now in "mills" and I do not know the term for the term of ten of what makes a "mill". People here talk of making millions, but I see reality at 8 mils, not even a penny. This whole situation disgusts me. Peter cut costs now!
DeGen
Ps: I see Peter earned his degree while working full time and being paid as a full time employee. I wonder how much time he spent on his studies when he was "supposedly" working for ERHC? Something is just not right.
Although it has been almost 40 years ago, I believe that same question was on the Contracts portion of my California bar exam almost verbatim. Somehow, I was fortunate enough to pass the Bar Exam but not have to deal with anything that complicated ever again. Gambling is so much more fun!
DeGen
I hope and pray that Deloitte puts some sense into ERHC's management / BOD and requires them to put into effect austerity measures (which are years overdue). But more important would be finding a partner or investor / lending institution to solve ERHC's financial problems. Is Deloitte the savior that will help ERHC pull a rabbit out of the hat or will the current situation drag on until the SP reaches zero?
DeGen
Ps: the best thing about the weekends is that the SP does not continue to go down. A 3 day weekend is even better. Lately, this stock has reminded me of a rocket launch countdown. First, it did whole numbers of cents. 5, 4, 3, 2, 1. And now sub penny (in mills) which has begun 9, 8, 7 .... Will we see 6, 5, 4, 3, 2, 1 mill? Does anyone know what the term for less then a mill? Those shareholders of ERHC may have to learn that term soon!
I can not believe the SP sits at 0.009 bid, 0.0099 ask. Yes the ask is sub one cent and no one is backing up the truck (lol). The gloom that hovers over the stock is unbelievable. If the assets are "real" as reported, this has to be the buy of the year/decade. All the good reports and no one believes them because of the toxic financing. But what one MUST realize erhc needs money to survive to get to drilling. We must all tuff it out and hope the company is still around to reap the reward of finding oil.
Yesterday and early this AM the SP bounced off the dreaded one cent mark. Who would have thought that possible weeks ago? Those longs that jumped in at that point had courage (and no wives to answer to). It looks like they found the bottom at one cent. I wonder, since over the past years, the end of December has been the bottom, before recovering somewhat in January. I think we will visit the one cent "bottom" again later this month. Unless, of course, a partner in chad or a financial partner is found. It should be a sad Xmas just like it was a sad Thanksgiving. Be prepared for coal in your "stock"ing if your stock is ERHE. Sorry for the pessimistic thoughts, but that is how I feel. All just my opinion.
DeGen
Ps: most of my price predictions have been wrong in the past.
Lets take a poll. How many have been e-mailing the company with their concerns: If you don't take the time to make your concerns know to management you shouldn't complain on the board. I would suggest e-mailing both DK and Peter.
Here are the ones I know of. Add your name to the list
Me - Gremlin9999
Juius Erving
DegenerateGambler (RCParker)
Good response from DK, although no "bankers/ lenders" attend these conferences, there is a remote chance that a partner will be found for Chad, which will help bail ERHC out of its financial woes. IMO, the money spent on this confence still it not justified, but it could happen. I am not holding my breath waiting for a partner coming out of this conference. Also, if it is true ERHC is still looking for a new partner, does this mean all the so called other pending partners have gone by the way side. I sure hope not, as I was under the impressions negotiations were going on and nearing completion.
Dan Keney's reply:
Robert:
Thank you for your note and your interest in ERHC Energy. The Company will take your thoughts under advisement. ERHC’s involvement in various industry conferences is an important component in its fundraising strategy. One of the best fundraising sources is farming out portions of our assets to technically and financially capable operating partners, which is what the Company did in securing CEPSA as a partner in Kenya. Currently, ERHC is seeking similar partnerships for its Chad and EEZ assets. Participating in industry conferences is a great way to connect with leaders of international oil and gas companies and tell our exciting story.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.danielkeeney.com
Yes, the money was raised to pay for the survey. ERHC did not want to use the cash on hand so they could continue to get paid. Your statement that ERHC has "plenty" of cash to meet day to day operations made me chuckle, because ERHC does not have enough cash to cover next years expenses. So, saying plenty of cash is a joke. Most here realize, with no cash coming in ERHC is running out of cash very quickly and now needs to beg for loans at exorbitant rates and costs. This is what is casing the share price to drop and drop and now be in the 2s. Every company needs money to run on and now ERHC's money is running out very quickly. It is way overdue for ERHC to implement austerity measures. Everyone should write to ERHC to demand these austerity measures start NOW.
Let's assume ERHC raised ~$900K. How long did it take the company to raise this amount of money? At least several months. How long will this money last at the current cash drain? Maybe one quarter? It appears ERHC can not raise money fast enough to cover the current cash drain. Maybe the shareholders should write the company about instituting austerity measures to lower the cash drain. If ERHC does not lower spending ( including salaries) the company will run out of money very soon. If that happens what do you think the share price will be. Please write to ERHC and let them know about how you feel about the company instituting austerity measures immediately.
I sure would like that information verified by ERHC if/when they reply to my email. In any case PN would be away from the "office" and not working on ERHC projects that he should be attending to.
Krom, maybe in the past ERHC could afford Peter's salary and conferences, but that was yesterday. I agree Peter produced and the conferences paid off with Kenya and Chad. But now that ERHC has these assets, it needs money to develop THOSE assets and no longer needs to search for additional assets since ERHC currently does not have the funds to support Kenya and Chad without borrowing money at a very expensive cost to the company and the shareholders. Why go to a conference looking for more opportunities when you can not afford the opportunities you presently have? To me, it makes absolutely NO SENSE to attend any more conferences until ERHC can afford it. PRESENTLY ERHC CAN NOT AFFORD TO GO TO ANY CONFERENCES and must stop attending them until their financial situation changes. I cannot believe anybody would believe ERHC should be spending money they do not have to attend conferences. Every shareholder should be writing the company requesting ERHC not to attend any conferences for the time being and cancel the one presently scheduled.
I think it is way overdue for the shareholders to write to Erhe a about instituting an austerity program until their financial picture improves. It should be mentioned how expensive this short term financing has been. It should also be questioned why PH is attending ANY conferences when there is not not enough to fund any the projects now on the table and the should no longer be looking into new projects until the wxisting ones are well under way and producing CASH. One should mention that the top executives and BOD be paid with shares of ERHC instead of using up the little cash that is left.
So let's all bombard the company with emails about an austerity program TODAY!
DeGen
Breez63, I was going to suggest that Krom & Seek cut this discussion "short", but that might lead to a discussion about what I mean by "short".
A million shares sold at 5 cents without dragging the the price any lower. That was quite interesting. I would have guessed that a sell order of a million shares would have brought the share price into the low 4s. The 5 cent price appears to be the floor(bottom).
I have trouble understanding why the SP sits in the 5s. The chance of CESPA leaving before phase 2 has been eliminated, which IMO dragged the SP to where it is today. With that possibility gone, the SP should be climbing back to double digits knowing that our blocks will have $30Mil invested in them shortly. Either refining the 2d seismic with 3D seismic or go straight to drilling. That can only be good. Drilling will come, it is only a matter of determining where it is to take place. Does anyone really believe that CESPA will spend all the money, time and effort to get its feet in Kenya and not even drill one well? That makes no sense!
I hope for a drilling announcement by Christmas, but I am willing to wait longer if 3D seimic tests are conducted.
This CPT code is extremely important for the 4k score test to be automatically used by urologists. Once the code is in place, the 4k score test will be a routine test and these revenues will drive OKPO's share price.
Presently, the test in not approved for insurance reimbursement and the patient is responsible for paying the $450 out of pocket.
I just checked my online betting site, "BETonANYTHING.com" and there was a line posted for ERHC:
10 to 1 for #1) drill
3 to1 for #2) 3D seismic
8 to 5 for #3) extension to study 2D seismic further
75 to 1 for #4) walk away.
It appears the smart money is favoring the extension!
DeGen
I just checked my online betting site
1) drill
2) 3D seismic
3) extension to study 2D seismic further
4) walk away.
I prefer 1, but I'm ok with 2. Three would be a bummer. 4 would down right suck.
Krombacher
There appears to opposing views here about which direction the share price is going. There are those who believe the share price can and will hold $9 based on the many things Opko has in the pipeline. Others believe that the share price will not hold $9 because they believe in a myth.
In reference to your post that is NO BULL for sure. I agree 100% OPKO is one solid company and and great stock to hold onto for a long time.
Since the beginning of this year the share price has bounced in and out of th $9s. The question continues to be can it hold $9? With what sounds like good news to me from the quarterly report, I believe not only will we never see the 8s again, but $10 is much more likely. The market looks at the future and the future of OPKO looks bright. IMO, this is a good time to get cheap shares.
It still looks good for the share price to reach double digits very soon.
I have some due diligence concerning OPKO that involves the 4Kscore test. I can share the Info via PM. contact rcparker99@aol.com