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Krom,
For 1) I think not. It all depends on;
a. The perceived value of a particular block. If we do have better blocks than EEL, then, they would be worth more as well.
b. The willingness of the seller to let go and the willingness of the buyer to buy. Kind of goes back to the quality of the block and the willingness to do business.
imo
Cheers
Brez
Every hour that goes by is costing us a penney! At this rate I hate to see the SP at the close.
I'm hoping that PN is trying to immitate Steve Jobs, with a new product announcement at the same time as a press release and website update! One can only dream....
Cheers
Brez
Brother, you'd still be wasting your time, although the folks by the windows would be saying "That's the spirit, chin up, stiff upper lip....and point your toes your going deep!"
Cheers
Brez
My bad!
Thanks
Brez
Dude,
I like how you think!!!!!
Brez
Puff,
We are all concerned, but that does not mean we say it and repeat it everyday. We analyze the situation, weigh the pros and cons, formulate a plan of action and then we make a decision (chuck a rock). Once we have made a decision we stick with it until we start all over again.
The process of continuously stating over and over that " I am concern" is as pointless as continuously screaming when one is falling off of a building. It will not change your fate, but it is just an annoyance for everyone else who are busy working by the windows of every floor that you go by!
Cheers
Brez
PS. Depending how high you are falling from, you could text your last message. If you techno savy even a smiling picture would be better.
OT: We are rooting for you and your wife Tamtam, this storm is bound to clear!
In our thoughts
Brez and Mrs. Brez
PS. I believe the persistant lady will remain persistant!
Cheers,
Just hoping, against all odds, of detailed result announcement which was coordinated by SNP with the JDA, resulting in the 27th being significant....against all odds!
Brez
Thanks
Therefore, EEL will have their meeting at around 7 am eastern time on the 27th and we will have ours at the end of the day on the 27th.
Who knows, maybe somekind of coordination?
And hope all is well on the home front.
Cheers
Brez
Cayman,
Your are correct, this is not an Ebay auction, but the principle applies in my opinion. When SNP made their first offer to AXC, it was just enough to beat the Korean company. Note that they only bid after AXC received the bid from that company. Their offer, was higher but still a low ball offer. Finally they went higher.
Again, in my opinion, SNP does have ways to know ( like most big business do) of the approximate value of a competitors bid (dollars, workshare, regional benefits etc). Therefore they already have a submission with all of the above sitting on the shelf, and will tweak as necessary all summer long, as new info comes in. Then they will bid.
Again, you are right, this is not ebay but if they want more exposure in EEZ there is no reason for them to advertise early that they are interested (Especially since the whole world knows that they own a big chunk of the JDZ and its knowledge).
Cheers
Brez
Tamtam,
What is the "BST" time reference stand for (Belgium?)? I'm aware of GMT, EST, CST, PST.
TIA
Brez
Tapco1,
My wife buys a lot from Ebay, she never puts in her bid until the auction is almost over. That way she never runs up the bids and she sees her competition!
IMO the same with SNP, if they are interested, they will not let the results of the JDZ go public until after the auction is close and they will not bid until the 14th of September.
That's what I would do.
Cheers
Brez
vineseeker2,
I see it differently. I think the 15% blocks are small potatoes compared to the rest of ERHE's portfolio (100% blocks etc). As well a company such as SNP or Total, would easily defend those rights in any courts. As well, anyone would be crazy to try to take on SNP or Total on such things when they (JDA etc) have fully given to ERHE the larger more lucrative (free) deals.
I see more the following events as the reasons that anykind of buyout/buyin announcement can be delayed.
1. Total must finalized the buyout in block 1. Why would anyone show their hand as to the value of other JDZ blocks which could inflate the value of block 1 purchase to Total. If SNP values Total involvement, then they want to ensure that Total is willing to get in block 1 smoothly and without escallating costs. Why would SNP buy out ERHE prior to that happening since it would immediately tell the world what SNP believe the valuation of JDZ is.
2. EEZ auction closed. Why would SNP officially reveil positive results in JDZ which may affect the amount of competition in the EEZ? If they themselves want to have a go at the EEZ then it is in their interest to keep the information to themselves. As well, why would SNP offer to buy out ERHE prior to auction being close since that would affect the block valuation and further, it would tell all the dinky companies outthere that "daddy deep pockets" is in town so go ahead and bid you will probably get bought out later at a great premium!
So, all in all, seems to me that we are on a similar timeline that Addax was last year! Negotiations in early 2010, followed by a new NSAI report around Sep time frame, followed by rumours of BO in fall.
Just my opinion
Brez
Majic,
My comprehension is a little slow this morning. Am I reading this correctly, the operator is estimating roughly 3 times more oil than the NSAI numbers?
If that is the case, I wonder what the Operators are estimating for blocks 3 and 4?
Thanks
Brez
amj23,
At this point it is more feasible that staff at the AOG are fully aware of money making mechanisms of the stock market. I'm sure some of their relatives in the US or Canada are making lots of cash shorting/selling/buying at the opportune moments!
Just another day in manipulation city.....
Cheers
Brez
....hmm....bit of a love fest tonight isn't it.....
Cheers
Brez
Tamtam,
At least its nice to see that if someone wishes to buy a couple of 100k shares in a hurry, even with 722M OS, this stock will jump almost 10%.
What will happen when many someones will try their couple of 100k shares in a hurry?
Let's hope for the best!!!!
Cheers
Brez
"I'm going to buy a Fiero!"
Brez
PS. Scene from the movie "The Rocker" :0)
Art,
I don't recal, I didn't think it was, but I could be wrong!
Cheers
Brez
"Almost always"...Akpo was some proven and mostly probable. I believe it came out to an average price of $4.5 per proven/probable barrels.
Cheers
Brez
Romgak,
Summer of 2008 (prior to eco down turn) AXC was at a high of $54ish Canadian. It dropped with the rest during the crash to $14ish Canadian. It slowly climbed back to $30ish prior to the rumour in May that broke out of potential buyout of 8Billion (which was initialy denied by SNP). Price then when up to 40's and finally upon announcement settled to the 50's near the 52.80 buyout. The buyout did include SNP assuming a little more than 2Billions worth of debt, so the buyout was at a SNP cost of 10.1B or approx. $66/shares. We, shareholders, obviously got 52.8 since the 2 billions is our debr too.
In my opinion, since we have no debt and all + side, we will see a SP valuation much more than what AXC got. Why? Well, their Iraqui fields are still problematic for SNP, therefore their valuation probably wasn't at a high premium. Secondly JCG did sell prior to drilling in multi-blocks. He obviously looked at a price that could balance the risk/reward issue in case of poor results. As well, it came to light that AXC was actually becoming "cash strapped", obviously it made them more prone to selling early. This is not an issue that we have.
It was also explained in the proxy that we received the process that took place for the bidding. in Jan of 09 they received bids from Korean companies, that is when SNP came back with serious offers. These offers were bargained all the way to May or June until Macau news broke the rumour. Deal was finalized at the end of summer. No warning, no nothing, bang AXC is sold. All of us never believed in a Million years AXC would sell weeks prior to drilling and it took us totally by surprise.
IMO, same thing can happen to us at any time. That is why I have taken all of my AXC cash and put it in ERHE where all my shares are sitting still until one of two things occur; share appreciation to my targetted sale range, or buyout.
Cheers
Brez
Thanks BB,
Cheers
Brez
walldog0,
I am in 100% full agreement with you, but must add;
"TOTAL = LOCATION,CLOSEOLOGY....and BEEN THERE DONE THAT! " ... and bought the T-Shirt!!
I raise my glass (actually cup of coffee) to Total!
Cheers
Brez
red did you mean 1.2 Billions vice 1.7 Billions?
Brez
We will know soon enough! If the Volume doesn't increase starting 3:30pm, then no news or immaterial news.
Cheers
Brez
retep,
IMO, this is not going to happen. 3 successful blocks explored out of 10? NSAI numbers "probably" encountered, the SP should be or will be easily at $3ish without any loss of control. SNP is already paying for all our costs. We have no financial issues that would precipitate such a great deal for SNP.
This is a total misinformation at best, disinformation at worst.
cheers
Brez
thanks**
Brez
Was that 42,800 shares going through at .69? I'm trying to figure out the iStockManager display on my iPhone.
Cheers
Brez
Agree, all is well, but I aspire at paying millions in taxes!
Cheers
Brez
Sweet**
Brez
Jcanada,
Look at it this way, you probably bought a whole bunch when we we at 1.15ish exchange. When you sell, and we are still at par, you will have a lower capital gain!
Cheers
Brez
sorry no, .63/.65
Brez
Further to you post EHP,
I also believe that the Total/Chevron deal as to come to a rest prior to any other major move in the JDZ.
So I'm getting myself mentally ready for another summer of waiting. Although I believe this year will be easier than previous as long as we get a continuation in good news; Total is in, drilling results are positive, phase II for JDZ, rigs sailing in, EEZ auctions completed with good attendance. This, in my opinion, should stabilize our SP into a slow but steady appreciation.
Cheers
Brez
What I stated is exactly what happened during the AXC buyout. I'm not sure what you're basis for "you're joking right?".
But perhaps "facts" is not your gig?
No need to reply.
Travel,
When addax got bought out by SNP, the first rumour came out in April or May I believe that the buyout was for 8ish Billions. The price went up significantly. When I received my proxie for the voting of the buyout, it showed the history behind the bidding. The bidding started back in January, therefore people knew that a buyout was in the works, but it certainly was not reflected in the SP at the time. Only once Macau news broke out the rumour did the price go up.
Why am I saying this, well its simple, negotiation could be on going right now for a buyout of ERHE (at any price, for the argument it doesn't matter the amount), but until someone in the media brakes out a solid rumour the SP will not move. But the SP not moving does not mean that there are no on going negotiations
Cheers
Brez
You know, ERHC has proven, I'm in agreement with you!
Brez
PS. By the way, ERHC has proven, is so much easier to type than Tryoty!
Why would they need money, we have a free carry? Other small companies in the JDZ perhaps, but not ERHE.
Unless I totally misunderstood your post?
Brez
Mr. Leslie Blair is certainly not a stranger to ERHE.
http://www.docstoc.com/docs/20295659/Participation-Agreement---ERHC-ENERGY-INC---7-31-2009
Participation Agreement to JDZ Block 2
Names of Representatives:
ERHE Energy Inc: Walter F. Brandhuber, President & CEO
Addax Energy: Leslie Blair, Managing Director
Sinopec Int.: Lian Mingxiang, Managing Director
A couple of weeks ago, we got our EEZ blocks. Now we get Mr. Blair who has been involved from the get go with us and Sinopec.
Today, I feel 1000% better about this investment than I did 2 days ago. 2 days ago I felt great!
Cheers
Brez
OT. slacker42, sideki thanks for the instruction, but I get the page of "my ignore" "my list" but it doesn't show my list. Must be a firewall thing from work. I'm going to have to wait until I get home to try it again!!!!
Good God (whatever your God may be)!
Cheers
Brez
CCY,
Seemingly KNOC was the catalyst that forced SNP into the bidding process. Perhaps the same is true for ERHE, all we need is one company to show interest and it will force SNPs hand to initiate their bid, publicly.
Cheers
Brez