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Iceking, the point was that many opinions have been expressed about this. How you could be here only since 1/17/2005 and come to these conclusions simply baffle one's mind.
But hey, you might find people willing to engage you on this, that's totally fine with me.
BTW there is no need to call people names. No one called you a goon or whatever when you came here and, in your second-ever post, said how valuable you thought the bashers' posts were, in late January (You were of course immediately praised by the simian LOL.)
EXCERPT OF THE WEEK, by SH:
"if unbelievable doesn't do it for the market, unbelievable plus a little more won't either."
Tough, but wise words!
I agree. Note that I didn't mean to say there was necessarily ONE buyer. It could well have been the same party (or group) that induced the selling by dumping shares, I didn't sell a single share myself, but I know several really good people who gave into the panic selling under 50 cents and got scared right out of their shares for a substantial loss.
Anyway, I have come to the conclusion that the supply and demand thingy doesn't exactly work as advertised here, if you follow my drift...
Iceking there is absolutely no way the awards were already discounted into the share price. I don't wish to re-open this can of worms, this has been debated ad nauseam. But there's no way.
As to your reading of the action these past two weeks or so, I must disagree as well. Some party (friend or foe, we'll probably never know) just buried the SP and accumulated millions of dirt-cheap shares.
Probably not, but you can bet they won't let you or I know when they release it, or more importantly why, or what kind of other nasty trick they will pull around the same time. Alsoer has a valid point, the current SP is just absolutely ludicrous.
We should be somewhere between 2 and 4 dollars right now, IMHO. It's not "normal" market forces at play here, period.
Thanks BB. It would be interesting to know why/how he has a good grasp on where we might be headed to. Insider?
Anyway, based on actual experience with ERHE his timetable is awfully optimistic... Not to say I don't hope his right though!
Hey, you've got yourself a new nickname LOL: Wallawalla
OK, we'll make that WW...
Why BB? That's an awful lot of pumping right there (not oil...) What makes you say this deserves attention, do you know and trust this poster?
Welcome kahunaj. Can you say exactly what you mean by "contracts"? PSCs?
Gotta go now, hopefully others will pick up the baton...
Thanks. How did you hear about ERHE? Coincidence, or are folks around you talking about it? We had a post a while back from someone who I think works (used to?) for XOM.
Dave, right at top of board, in the ibox
hubber I wasn't around much last week but I believe there's nothing new here. The 3.5 mil POTENTIAL sell by Coleman has been commented upon on this board.
And in case you didn't know, the post you used was by a basher/manipulator who is Persona Non Grata here (weel-known by all longs as well as IHUB management.) Thank you for not bringing his provocations and garbage to IHUB.
Nice to have you on board. Just out of curiosity, what kind of rig is it?
OT - jmexico, are you Mexican? LOL.
so... THAT'S what those 2 million shares at 46 cents were? Great, I'll take it. Sorry BB, beats the ERHC Stock option plan!
LOLOL.
Welcome back BB. Wow, and I see chcr is giving you pay raise eh? NOT FAIR, gotta ask for one too... LOLOL.
I agree 100%.
I was just trying to get your point. You completely missed mine LOL. Almost all majors and mid-tier cos are flush with cash, but XOM is the 8,000 pound gorilla and could gobble up just about anybody they want. We are talking about a company with a market cap of over 350 BILLION dollars.
You mean as powerful as XOM?
Great find. Thanks dat.
SH I don't think a back-door deal was necessarily the plan from day 1 for XOM. As I posted before, they have all kinds of options. With such an obscene amount of CASH in the bank, which they will want to spend on acquisitions instead of giving a good chunk back to Uncle Sam, they could buy ALL the cos involved in the JDZ if they wanted to anyway LOL.
SH let us hope you are right. I personally doubt that Anadarko and its goons (Trovoadas & co) ever had intention to really drill and extract. I think it's all about positioning themselves to be able to sell the co and/or its JDZ rights at a much higher price. And I wouldn't be surprised at all if the buyer is XOM...
Platina what the heck are you talking about (and insulting people for)?
Good point. HS had posted about this Gomes talk a few weeks ago I think. I bet the guy is relieved that the round 2 awards are out, he would have taken a lot of heat if the JMC/JDA were still putzing around...
My pleasure hubber. Hey, BTW, try to use the reply feature instead of starting a new message, it's a lot easier to follow up on things this way.
HP I'm in the same boat these days, very little time for stocks, certainly much less than I'd like... Not sure about #2. About #1, none of my cos were ever bought out so I don't have first-hand experience, hopefully others will step up to the plate here.
As to being only pawns in a much larger, much more ambiguous game, what's been happening recently shows that the answer is a resounding yes. ERHE should have hit HOY, and blown through it. Instead, whoever did that literally smothered the SP and grabbed millions, or tens of millions, of shares at a fraction of what the SP should be.
And the level of TA that you and a few others have been sharing is most welcome here. Thanks folks!
Yup, this stock is manipulated big time.
Platina I agree. In all fairness though, Offor's billions are not billions of US dollars LOL.
Neither Mark but I sure do HOPE it does LOL.
Why would Offor want to sell? We were discussing this already a few months ago... I should think he now has even LESS reasons to sell. Why? He could make a few billions now, OR he could get in the Bill Gates range in less than 10 years.
Thanks SH. My point is very simple, and I'm sorry I didn't make that more clear.
Your assertion, which you just repeated is that we need financing. What you are talking about is really a few million dollars, right? My understanding is that Offor has that, and much more, in the bank. In addition, Chrome is a company that MAKES money, and lots of it, through its existing operations in Nigeria. Right there we have two obvious sources. Offor has several other lines of business which he could sell, etc.
I am NOT saying that Offor won't resort again to that shady Chrome financing of ERHE. In fact I wouldn't be surprised if he did, and just like you, I wouldn't like it one bit.
(You've got mail.)
ERHE's need for "funding."
I would like for you guys to show us ONE piece of evidence or even one iota of common sense that Offor is "forced to come up with alternative means of funding" at THIS juncture. I am still AMAZED that this can be taken as a given by such smart people as SH, Rancho, etc. (no offense meant.)
The only reason why Offor would continue with this nasty but legal loans/notes/cheap shares scheme (a form of dilution that, let's face it, just fleeces the shareholder) is that it works! It just keeps giving, and giving, and giving...
Sorry if I have to call a cat a cat, but can't you guys see that?
Good post Rancho.
Let us keep in mind however that Offor has also surrounded himself with very sharp people from other cultures, including ours.
That's the 64K question. Some TA experts seem to think the bottom was just hit yesterday, even assuming that's true, I will not venture to even guess a consolidation timetable.
In my mind, whoever has been manipulating this stock will ONLY let it run when it fits their agenda. Of course what will happen then, is that many of the longs like me who haven't sold a share will consider selling into the run at FAR lower levels than what they had originally intended (say, a buck instead of 5 bucks, frustration does that to you... LOL) Guess who will come out with more el cheapo shares...
If we are "lucky" (ha ha) they timed their dirty little work (running the SP way down) to coincide with the 15 days given by the JDA, so they might let her run a little bit higher soon (just before of after official round 2 acceptance PRs by all winning companies.)
hubber stay strong, don't let them crush you or steal your hard-earned money!
Homeport thanks for keeping us up to snuff on STP. Great job.
Hubber there certainly are people who know what's going on, and profit from the situation. This happens every day with myriads of stocks, OTC or not.
Legal? Nobody among the powers-that-be really cares in this country.
Fair? Heck no! But this is a risk we must be willing to take, that's part of the "game." Often the small investor gets squashed like a bug, or is left holding a stinkin' bag full of worthless shares.
Not trying to bum your trip, just telling it like it is.
FWIW there are some very smart and even powerful people among ERHE investors who are kept in the dark too...
hubber, I'm not sure you are actually reading the posts! Manti just explained to you that in fact, those in the know HAVE been buying this stock... and at ridiculously low prices.
They KNOW it's going way up, sooner or later, it's called making a killing.
Great post Manti. Hope everyone reads it...
Whoever was behind the recent action/drop has been VERY successful in SCARING many people out of their shares. Wish I had more dry powder too...
Points well taken SH.
I couldn't agree more on the horrible manners with investors. If any of my staff behaved that way, they would get one warning. If they did it again, they would be, what's the word... Ah yes, FIRED.
Rancho....
1) The simian's scare tactics are well-known. The SEC knows him/them well too, that's why he want US to trigger any kind of "investigation." If the SEC did their job halfway right, that individual would have been in jail long ago.
2) Nugent did not sell one share. This was completely blown out of proportion by that resentful Shea idiot.
3) People spread stories all the time, and quite often from deep within a company. The REAL problem right now is that ERHE isn't being as forthcoming with its loyal shareholders as it should be.
Hope this helps.