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Try as they may they can't seem to get the share price up. Are they still filing to get off the pink sheets?
The but in rumors are just rumorsa imo. That type of news just doesn't get to chat rooms et al. but to in the know investors on the "street". The volume, then the pps will indicate if any of these rumors have legs. At this point I believe this is all just wishful thinking
The question is does the investigation in any way effect the treaty and erhe's rights? Also is this an attempt to force Offor to sell at a cheap price? Will the Chinese or anybody for that matter make a tender offer while the company is under investigation? And finally how long can this thing drag out and will it effect Addax's drilling schedule?
I called erhe and she said that the atty's have a press release. She didn't sound like she knew if it was released or is going to be released.
Rare 40, what a rare surprise! Please don't be a stranger.
The one thing that I conclude is that Meridian sounds downright bitter as of late.
Any updates as far as filings to get off the pink list? tia
No trades?
According to way some people are evaluating reserves, after voodoo math they could be in a deficit for all we know lol.
Kobi; more importantly what kind of value if any did he put on ERHE pps wise? tia
I believe we had a participation agreement with PXD at the time, ie two years ago. No I wasn't referring to the date that Offor received acquisition of the company. I do not attempt to get into the pps, at this point, because I honestly believe that with the ever changing numbers of crude that are going around that it is silly to put ridiculous high or low numbers to it. All I know is that the prediction of the amount of oil in the blocks seems to becoming to fruition. If half of this is true, I'll take between 35 and 50 billion barrels and $50 pps. But I find it hard to believe that 5% of 25 bil barrels nets us what 2 to 3 bucks a share?!!, well then I have some very attractive ocean front property in Des Moines Ia that I'm willing to let go at a steal. lol
Balance; also at this point in time why even go further if this is only worth $2, or $3 pps? Offor makes a great deal of money after his now "paltry" 6 mil investment. I always looked at Offor kinda like Micheal Coreleone. He has the money and the power, now he wants respect in the geo-political world community at large.
FWIW;
There is now a ton of speculation as to what the oil reserves are in the blocks. It seems like the original estimates put on by the JDZ of 14B can be thrown out the window.
I had the opportunity to talk to one of the lawyers who handled the transition of the company from Tinaman (spelling?) to Offor and was a plaintiff in the law suit that was settled very generously according to this person. This conversation took place over two years ago and he said then you could forget about the quoted current reserves. He believed the oil found would be between 70 and 100B. He also said, that when all of this was all said and done that for every 10,000 shares owned would make you a million dollars (thats 100pps for Maestro,lol). I can understand about half of what some of you are talking about when it comes to share price and less of the formulas that are being bandied about to get to your pps. Is this stock worth $100 pps?, I doubt it but I certainly think its worth a hellava lot more than 2 to 3.
I have not been following on a day to day basis and have a small position in this stock . Can anyone tell me if the company is still planning to get off the pinks anytime soon? tia
Hey Nostradomus..er Meridian.. Maybe its time for you to pull a rabbit out of your hat, your gallery seems to be heading for the exits.
And Spec do you agree with Meridian that CVX has never talked with ERHE based on that information. tia.
Unfortunately you can't put M aside until I-Hub just bounces his sorry azz, which I really hope they consider.
Probably because he has become divisive. His model for pps could be correct. But he always states things as fact and not opinion, which makes him sanctimonious to me anyway. Most of us have "day jobs" but have sunk a lot of hard earned money into this stock. When he says he gets joy out of seeing people being stressed when realities are entered into his life you've got to wonder why is he here? A person without any shares and without an agenda. I guess this is like a sporting event to him.
Is Meridian really Oliver Stone?
More; I have been asking the same question since friday evening. He knew way back when he first appeared, a lot the expectations of the investor. Upandwin and other Meridian apologists can spin it anywhich way they want to, but for me its disingenuous at best, attempetd price manipulation at its worst.
Actually don't ignore, just don't answer. His massive ego might just explode.
And miss the theater?!, heavens no!
Translated; I really don't give a chit who I hurt along the way. Put me on ingnore, I will still have enough lemmings left to throw off the cliff.
Oilman: you or someone correct me if I am wrong. I don't have the post number but I could swear that Meridien was calling for us to move to the AIM to stop market manipulation when the psc's were signed. If anything he seemed to be playing into the concern that the price wasn't running up to 2 or 2 dollars on the signing. Again, he knew damn well what the investors were expecting even in so much as confirming it last nite with Spec. He might be right but disingenuous from the standpoint of putting our collective feet back on the ground from day one.
Now all of a sudden he shows up like Alan Greenspan warning us about "irrational exuberance".
Meridien is here for a good reason and has established himself as the redident guru. His motives have become crystal clear to me. Simply to create doubt in the investment he has clearly touted since he mysteriously showed up here. He knows what the investor is expecting here, he would have served himself better as a "friend" by stating the stock price from the beginning, but when ever asked he always skillfully avoided answering the question.
Now, after hiding out for the past couple of weeks he comes back in after we start climing in price and bingo, here we go again. First the reverse split and now this. No coincidence IMO.
Ruby; not to nitpick but I believe Umbra said "very, very wealthy" lol.
Wall; With all the speculation about buy ins/buy outs, I think that your scenario is correct if Nigeria is grooming ERHE to be its answer to XOM. My wild dream for sure, but with the absolute scary numbers that are being tossed around, second only to Saudi Arabia, according to Umbra, it puts ERHE into a class of its own or certainly up there with the big dogs.
If we go back to the "bidding process" of the sencond round, with delay after delay, etc. You can almost see how this whole thing was orchestrated. Offor maybe a genius, but I believe that Nogeria was pulling a lot of strings along the way to make this thing fall into place. Either that or Offor is just in it for the money.
Either way, this has turned out to be the best soap opera for investors ever to hit the computer screens.
Spec; Are you saying ERHE is looking to buy someone?
Boy that sets the record straight! NOT.
Cobra ,I firmly believe that, one day, the rest ot the story will come out, like Paul Harvey likes to say.
"One small step.... We'll get there even if they still can't great things about us right now. Not that they were bad but the spotlight is on the JDZ and that's were ERHE holds the key to billions of barrels of oil! It will be impossible to talk about the gog in years to come without talking about ERHE.
BB; You stated 33K in long term debt. Do I read that as 33 thousand or million? If its 33 thou, its what my wife ran up on credit cards. lol
Many of us have the notion that it is Offor's intention to build a pan African oil company. Right now ERHE has 3 employee's, little debt and appox. 50 mil in its coffers and the mammoth prospects of oil in the blocks.
Question is; how long and how much does it cost to build an oil company from the ground floor? I am talking about infrastructure, offices, employees, salaries, etc.etc.
Or with this enormous cash cow do you just go out and buy an existing one?
Or is cheaper or more profitable to remain a holding company and farm out the work and hire Account temps (lol)
Meridian; I don't know if anybody asked you your opinion or the reasons why XOM did not excercise their two 25% options.tia
So now we must ask ourselves...what other secrets might our company be hiding from us???? Isn't it apparent that the timing of this release was done purposely??? It is to me. Does that mean there is a "rest of the story" yet to be announced or shared with shareholders???
Art wrote;
Sorry, but at present they apparently don't care about PRs geared to retail investors or even one greared to large institutions
To not have hired a PR consultant person in expectations of the signed PSC contracts to me has no excuse.
Dune wrote;
I dont think they give 2 iotas whether we like what they do or not. Its 2 people against the world in their eyes. And they are going to get all they can out of us, even if it takes them sending Meridian to soothe the wounds they inflict along the way, so whoever it is that they are worried about cant stockpile too many shares against them. Maybe that is Nigerian business, I dont know. I wish they would realize that we are here to make money too
And the pr states;
The Company's CEO Walter C. Brandhuber commented by saying, "The
entering into production sharing contracts in Blocks 2, 3 and 4 of the
JDZ represents an important step in our goal of commercializing the
Company's interests in the JDZ and increasing shareholder value. The
Companies' interests in the JDZ blocks represent the cornerstone for
the Company's future growth strategy."
I, like many thought the the pr didn't have the small shareholder in mind and now I find myself intrigued as far as how Meridien plays into this whole scenario.
"...increasing shareholder value." is the operative phrase, for us, in the whole article IMO.
Its a matter of trust that the other secrets and surprises are the good kind, that the company has in store. If not then we shouldn't be here. Therefore I stay invested, trusting that the management takes this company to fruition and true value for all its shareholders small or large which, has limitless potential.
Procrastinating, there feel better?
Fitaman;
As far as I'm concerned Global Energy could have written that "pr". I wonder if Walters lips were actually moving when they made the announcement. They would have been better off just republishing the 8-K for public consumption. If this was to bolster confidence in this stock he failed miserably, IMO. I am hoping the reason why we didn't have a big Friday selloff is because this lame pr was issued late in the day. Did they mention the actual percentages we get from oil?
The pres from Addax was excited about the prospects going so far as speculating on the amt of oil in block 4. Our leader sounded like he was reading a hostage tape. Sorry I thought after procratinnting wiht this news they could have done far, far better.
Where are all the big buyers that were supposed to be in the wings when the psc's were signed. Very frustrating.
Meridien;
Do you know if ERHE has a media campaign planned? Walter on CNBC perhaps?
I haven't thanked you before but would like to now for what you have offered the board and anxious investors like myself. Happy and relieved and looking forward to see what's next for our.... I was going to say minnow, but I believe that will be soon pase!
How about The Paul Masson OIl Company; "we will serve no oil before its time"