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Thanks chcr. thrilled to hear that BB's operation went well.
Thanks Pinecat.
About Offor keeping JC on the staff, well if Coleman is selling his 3.5 mil shares over the nexy 90 days or so, he wants out.
This MAY sound like a good thing, but his replacement will likely apply the very same kind of policy. My understanding is that it comes directly from Offor.
Manti you make an extremely interesting point. What would be their options if they indeed wanted to take a stake in ERHE?
Are the kind of tactics (MMs, hedge funds perhaps too?) we've seen lately their only or best option?
What do you, very experienced investors, think? Have you seen this scenario before with other companies?
They have many options. When I posted months ago that they were NOT out of round 2 people laughed me right off or just thought I was crazy... now look where we are.
They can try the strong-arm as I believe they've been doing in the shadows lately, they can buy out a mid-tier or two, or three, or they can just wait it out, let the other guys do the fast-tracking and then pounce.
ERHE and its right s are central to the JDZ and billions of barrels of oil, so what could we be to them but "the" prime target?
I agree that Offor has firm control of shares, even without FAB by the way. So why would he be dumping now?
If HE is behind what's going on right now in terms of SP, well, there better be a damn good explanation with total, honest disclosure to the shareholders. Short of that, he *would* instantly turn his most loyal supporters into a lot of enemies. Not a smart thing to do for an emerging company in this country, and not a smart thing to do in shark-infested O&G waters.
ftc88 that is a real possibility. I do find it quite disturbing but I recognize it's real.
Let us keep in mind though that just about everybody who's dealt with ERHE has been paid in shares. I do not see how Memon just to take one example could possibly be very happy with his millions of shares stagnating at this boggy level for very long. It stinks for him too...
Ditto.
I personally am convinced that either some of the smaller cos and/or their JDZ deal could be bought by the big dogs or, yes, ERHE. I could very well imagine Mr. Offor doing just that.
Manti my sentiments exactly (just better written LOL.)
At the crux of the issues is what you refer to as "Nigerian control of the company." It's a double-edged sword, with definite pluses (round 2 results, protection - so far - from hostile XOm takeover, inside out knowledge of the local situation in GOG and Nigeria, etc.) and definite minuses ("loans to self", disdainful treatment of shareholders, etc.)
DO IT TOO! This is REALLY important.
Thanks for taking the time SH. This mirrors exactly what I encountered even before this woman was in.
The way you were treated is simply unacceptable. I would urge others to find out for themselves over the next week or so and post transcripts as well.
SURVEY RESULTS.
Don't know what the heck is going on, I don't believe it's just for premium accounts, I could be wrong, no time to investigate that, so here are the results (I can put up a new survey with same questions or a different one, or whatever, let me know, just realize I have many other things to do and I can only check in here from time to time these days...)
Results for the IR Survey
36 people took the Survey.
Question Answer Num Votes % Votes
Should ERHE hire an efficient IR (Investor Relations) firm?
Yes 33
91%
No 3
8%
When should our company do so? Immediately 30
83%
within 12 months 2
5%
within 2 months 2
5%
No Answer 1
2%
I don't care 1
2%
I don't have a freebie account, not sure what you see. The "other" link should be right there at the top of your screen while at the ERHE board...
Can anybody help doug here?
I second this 100%. Also, fols if you haven't participated in the SURVEY on Investor Relations for ERHE now would be an excellent time. This can be done anonymously, so even if you just lurk PLEASE participate. MAKE YOUR VOICE HEARD!
Click "other" then "Surveys" near the top of your screen.
Thanks, really appreciate your letting me know.
Pinecat can you elaborate?
Good point mabenn1. I do agree with Walldog that ERHE needs to step up to the plate and alleviate legitimate concerns that have risen concerning its financing capabilities and its extremely poor handling of investors' relationship.
I was saddened that hardly anybody bothered to help me catch up last night (thanks, board) but anyway.... FWIW right now I believe we have one of two scenarios to explain a SP that's at 1/4 of what it should be:
1 - XOM doing their dirty work via MMs and hedge funds to drive the SP into the ground.
2 - Chrome dumping shares.
"PP"? Forgive me... ESSplain that to me Lucy!
"the $50M or so we need to proceed" to do what?!
Sorry for being so out of the loop, thanks for your patience with me.
Been away for a few days... Was at my Pc this morning for just 1/2 hour before a work crisis fell in my lap, had to leave... Shocked to see the SP this evening...
Would a few of my friends here care to throw in a few sentences with their interpretation of this SP debacle? (Different but civil opinions welcome, in the Spirit of this board) ) Sorry I'm not up to date but 53 cents is just ludicrous.
What the heck is going on? Hit me, I'm a big boy, I can take it.
Thanks.
Platina...
"So, even prior to start with the ''basics'' a New Investor has to realise that it's the same Co. that ''used to'' hv the ticker of ERHC, now ERHE, but the latter STILL has the ''name of the EARLIER ticker'' in the New Name of the Co. i.e. ERHC Energy (BB:ERHE)."
It's mind-boggling even for longs. When I saw this new name and symbol I immediately realized the potential for confusion and I thought this was the dumbest thing! I started saying so and people shot me down, so I kept my mouth shut.
Truly an idiotic move, PLUS the name doesn't even roll off the tongue... which nowadays is no small matter.
Glad I wasn't the only one...
Great post.
IR survey is up (reminder)
"Should ERHE hire an efficient IR (Investor Relations) firm?"
Click on OTHER, then SURVEYS at top of board.
Please spread the word folks, including on other boards, it would be nice to know what shareholders really think of our PR situation. Maybe they just don't care!
HP, I just read SH's reply and he puts it a lot better than I would have. I agree with his reply 100%.
Which reminds me, I need to throw up another post about that IR survey, don't I? Too bad we can't have these things as a "sticky" at the top of the board...
Point well taken Magic. Now, this adds some interesting light to the possible hostile, underhanded action on the SP we've seen lately by XOM or others, doesn't it?
FWIW just with the $$$$ he has made from these "loans" to our company over the years he could easily cover round 2 several times over.
He also has many other businesses, including several that are very profitable.
Interesting hypothesis but I don't think that it's the problem. Although it wouldn't surprise me entirely!
JMHO.
Magic, Offor has all the money he needs to do this upfront if he wants to. What he has already has in the bank is a realistic source, albeit perhaps not the only one.
Really tough. So sorry to hear this happened to OJ.
Lots of nice posts last night folks. Worth a read like I just did.
Thanks a bunch. Any mention of PSC timetable for them/us by any chance?
I know.
That's one of the reasons why I stole 11402 and posted it on our board.
I think most nervous nellies have calmed down now. Well, at least I hope LOL.
I lurk here, although not as often as I'd like... Love that odd Chinese/Chartese language with the beautiful colors and designs...
Great board, run by a classy guy.
Take care.
ftc can you take my little family and I with you the next time?
PLEASE!!!
LOL (sorry, had an awful day... but glad *you* didn't)
PS No sweat about the survey, i realized that it was prob the case right after I posted my reply.
ERHE gets I believe 21% OF THE WHOLE JDZ, based on official JDZ round 2 awards published by the JDA (guys correct me if I'm wrong here.)
blasher, this is a huge as anything I've ever seen, and far beyond what all reasonable DD showed. An incredible tour de force, and a phenomenal deal at these prices by any stretch of the imagination.
And we get run down? Hmmmm.
Yeah, people emailed me... Didn't I correct that in my reminder this evening?
A wicked man you are LOL.
That's OK, never were you a tacky attackee.
Share in the success? And that will take how long LOL? That's funny, very funny...
Anyway, I never cease to be amazed at how mean-spirited or manipulative many people get when money is at stake. No wonder greed has made the history of humanity what it is... Can't people just get along? Geez.
I do owe you a great bottle of Pinot Noir, but you're making much more money than me out of this stock and I'm so poor you'll probably have to loan me the money, but hey what's the difference, we'll drink it anyway LOL.
IR survey is up (reminder)
"Should ERHE hire an efficient IR (Investor Relations) firm?"
Hey Manti your wishes are my orders. I just discovered this cool feature at IHUB... (am I slow or what LOL)
Click on OTHER, then SURVEYS at top of board.
Please spread the word folks, including on other boards, it would be nice to know what shareholders really think of our PR situation. Maybe they just don't care!
MAC, agreed. I officially withdraw my request for help with your board's expertise on our board.
Copied this great post by coy but looks like they didn't read it...
Sad.
SOME longs understand and respect honest, upfront traders like you guys.
Most don't but secretly wish they were half as successful as you are
And some weirdos like me are right in the middle LOL.
Max, I personally asked MAC to come in from time to time and help with their TA reading of the situation. I believe he's asked Snap and blasher to help as well.
They aren't trying to manipulate or disguise anything. In fact, I find them quite upfront. There are "good" traders and there are crooks. These aren't the bad guys and as I think Ten said, their analysis can be very helpful.
Relax everyone.
OT - MAC I think you might get a brand new kind of customers showing up...
I feel just fine Mr. B.
If the guy owns ERHE, is blind and truly wants to make a contribution to this board, wouldn't it make sense to come on in and say hey, here is why I've locked my caps? Is that so unreasonable to expect?
For God's sakes we don't need a Tuneman here...
Thanks for the post.
ERHE - MUST-READ
(stolen from Mac's board, Coy doesn't know, going in hiding now...)
Posted by: coydog
In reply to: None Date:6/2/2005 2:44:41 PM
Post #of 11407
I have been trading ERHE longer than most here and this is my take on the situation. We were the wild cat players hoping to hit a lucky one to change our lives. We saved our dimes, and quarters and bought ERHE shares. We saw our nest egg grow and we took the big risks to save the company from BK. It is a real company now and the big boys will now run the show. They would like to scare out the little boys that saved the company and take these huge profits for themselves. That is what this fire sale is all about. After they have scared out the little guys we are going to have 40 million share days as material events start occuring one right after another. This stock right now is the deal of the century. Know what you have and do not let the big boys take it from you.
Congrats, pretty darn good (added my last few ones at .70 last week, yuck!)
Jake17, WD40 that Caps Lock key, it's obnoxious. Just use it for important stuff. Thank you.