You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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I am sorry for your loss O Papa, my dad who passed about 15 years ago was also a WWII Vet. He was survived by my Mom who passed this last December. I got my mom to buy ERHC shares and she will never get to see the stock recover like the rest of us. May your father in law rest in peace.
The only problem is that although most here accept that it is an incremental deal, Middly just will not accept this "opinion" and will continue his unjustified criticism of ERHC's management.
DeGen
The trading on Friday was about 60% buys and 40% sells of the 400K volume. Most buys were at about 8 cents and most sells were at 7.5 cents, which the MMs loved as they pocketed the difference, which was about a half cent on every trade. IMO, that is outlandish as it represents about a 7% vig just for the trade, not counting any other commission one might pay. iMO, the vig should be much less and in any case no higher than 3%. However, there is little anyone can do about it.
I find it difficult to be that happy about the SP hitting 7 cents. I guess it much better than the 4-5 cent range that the stock was stuck in over the past month or so. But even 7 cents is way too low given the upcoming news and the possibility of drilling for oil in the next year or two.
My guess is most here need more than the teens to get even. In my case, it's the 30s and although that may happen some day, that day is way off. Middy may have it right to jump ship at 15 cents which is possible this year. The SP may hit 15 when the partner is announced, it the deal is a home run (several well full carry).
The big question today is how solid is the 7 cents and why did the SP get there? Has news leaked about the government approval? My guess is DEFINATELY, and we should have a announcement before the end of next week. If the run up continues to 8-10 cent range, you can be more confident about the govt approval and at at a good partnership deal.
Excel, by taking a week or "two" off, I hope you don't mean a fortnight ( the African variety)!
Now that everyone has sat down at the Christmas dinner table telling all of our relatives what a great buy ERHC is right now in the 4 cent range, can we expect a rush of buyers today and a jump in the shareprce?
The chance of hearing any news from the Kenya Govt over the next 2-3 weeks is remote. Christmas is next week so that week is shot, New Years is the following week, so that week is shot. The only thing we have to look forward to is until the end of the year are those taking tax losses which will DEFINITELY drive the share price down. Those who want to catch the bottom should consider buying on Dec 30-31 which should be the lowest price of the year (3 cents!). Expect a nice turnaround come January even without news. Expect a BIG bounce once the Kenyan govt gives the OK.
Those who are not interested in buying can come back in several weeks and hopefully things will start looking up then.
Merry Christmas to all and to all a good night.
DeGen
OT, the first 10 days of December here in Naples, FL were all over 85 deg, no rain and low humidity. It has since "cooled" down to the mid 70s. So I could at least turn my A?C off!
DeGen
I just watched a Verizon commercial that said bigger was better. This cute little girl also said she was competing for cutest kid and when asked what place she was in, she answered Kindergarden. Too funny!
DeGen
Ps why is the SP still hovering around 5 cents when it should be MUCH higher?
Market is now open. Why isn't everyone jumping in buying now that the deal is known? The SP should hit 6-7 real soon. Are people worried that the govt approval did not / will not go through?
What is the source? Has a PR been issued? This is great news! Any upfront cash?
Hi Pete,
Glad to see you posting again. I have always appreciated your insight and wisdom. However it is a little premature to congratulate ERHC shareholders as the share price still languishes in the 5s even after so much good news. I find it hard to explain why the SP is not at least double figures by now. The reasons have been much discussed here, but as usual no one knows nothing. We can only hope when the official announcement of the partnership is made, the SP really takes off.
DeGen
If you lived in Nigeria and owned millions of ERHC shares and had inside info about a bad deal about to be announced would you care about some US regulations? Also, many here in the US trade on inside info every day a get away with it. It is very possible this low share price is because of that.
I normally do not like to be a Debbie Downer, but one way of explaining the low, low share price after the several positive announcements by ERHC is what has NOT been said in the announcements. The deal with our new partner is signed and in place waiting be the Kenyan govt approval. So the terms of the deal are KNOWN by some people who may have "leaked" this information to those who are keeping the price down by selling because the term of th deal are not that favorable. If the terms terms were good, these "insiders" would be buying all the shares they could knowing the share would spike upwards on the official announcement.
The other theories about financing and hedging also make some sense, but inside info makes more sense to me. Hopefully I am wrong and the deal is a good one for ERHC.
Does anyone know if ERHC has other mineral rights (gold, silver, diamonds, etc) besides the oil rights?
OK Remy, help me out here. The only one who will gain is the buyer/ partner getting a HUGE piece of ERHC at ~4 cents. This could only be the company who is in contract (LOI) with ERHC. SEO wants at least several DOLLARS for his shares so he can not be that happy. Most of those here want 20 cents to a buck and are only buying this week to average down, so they are not happy (especially me and my wife).
Why the SP is now so low after 3 good PRs is a complete mystery to me ( and most here). I guess the only thing to do is hold on and wait for the terms of the LOI. There must be something in that about a share purchase by the new partner at around 4 cents I can only hope that AFTER the deal is finalized the SP will start its climb. This is way overdue. All IMO.
Now a third Good PR. This time the EEZ with a touch of the JDZ. The company is finally greeting things done. But the SP is another story. What gives???
OK Remy, help me out here. The only one who will gain is the buyer/ partner getting a HUGE piece of ERHC at ~4 cents. This could only be the company who is in contract (LOI) with ERHC. SEO wants at least several DOLLARS for his shares so he can not be that happy. Most of those here want 20 cents to a buck and are only buying this week to average down, so they are not happy (especially me and my wife).
Why the SP is now so low after 3 good PRs is a complete mystery to me ( and most here). I guess the only thing to do is hold on and wait for the terms of the LOI. There must be something in that about a share purchase by the new partner at around 4 cents I can only hope that AFTER the deal is finalized the SP will start its climb. This is way overdue. All IMO.
Our ERHC investments are mirror images! I have several buys in the 90s and my average went down to 35 cents after I participated in the offering. I can not buy more at these bargain prices in order to keep my marriage stable. After this long long wait I hope and pray to time comes when I can finally tell my wife I told you you so, after years and years of taking her heckling. If you are married, I am sure you are going through the same. Good luck to all shareholders.
DeGen
I had to sell my EOG stock to buy my home in Naples.
If the LOI produces a partner who will provide a carry, why is ERHC still going forward with the air survey? The only thing I can think of is that the survey is a requirement of the LOI. What if the survey is a bust, what happens then? Maybe this uncertainty is why the SP remains in the 5s.
How nice to see the formal announcement of ERHC starting the survey. Yes, there wre those that insisted on using the word CANCELLED without any clarification added whereby the survey was to be RESCHEDULED. They refused to say temporarily cancelled either. They wanted to mislead the public as they just kept saying insisting on saying CANCELLED, CANCELLED, CANCELLED. They must have had some motive for misleading as they reiterated their statements over and over, even after they were politely asked to not use the term cancelled without additional clarification. Now after today's announcement, it is clear the originally planned date was postponed not permanently cancelled as those posters tried to make people believe. One has to wonder why they were so misleading?
I will again predict the SP will reach the 6s early in the week and the 7s by the end of the week, if their is no news. With news of the partnership the SP should reach double digits and continue to climb from their as things continue to develop for ERHC. How can anyone sell now? Especially in the 5/6 range!
Welcome back Dr. j ! Does this mean ERHC is now a slam dunk now that you are back on the team?
With all the good news on all four fronts (Kenya, Chad, EEZ, and JDZ) it is almost certain one of the four will be validated and create share value.
Middy, is it possible for you to look at ERHC from today 's CURRENT situation and stop bringing up all of past history that you so often do to drag ERHC through the mud.
Do you now believe that ERHC will complete the LOI and sign on a partner?
Does what happened in the past matter any more? The bad investments, the lack of finding oil, the failed AIM listing, the long delays in everything they do, etc. etc.
Today one MUST look to the the future and the future is Kenya (and possibly Chad). Rehashing the past mistakes made ERHC does no good as those mistakes can no longer be corrected as they are now over with.
Why to you feel the need to rehash those events? Are you trying to rub it in management's face or making sure any new investors stay away because what has happened in the past. Do you want to drive new investors away? That surely will keep the share price down. Is that your objective?
Krom is correct In that ERHC's share price is based on investor's perception, not any fundamental value. In 2011-2012 the SP hovered around a dime after the dramatic drop from the highs in 2009 because of the JDZ failure.
But how does one explain the steady drop in 2013 to the recent lows of ~4 cents? During this period Kenya and Chad were in a situation of wait and see. This was not bad, but only unknown. The longer this uncertainty, the lower the share price as some made negative comments about the company.
IMO, the perception of ERHC was considerably lowered because of the these negative comments about the company. Since the share price of ERHC was entirely based on perception, the negative comments caused great harm to the share price. Although, some blamed management for the low share price, they should take some of the blame themselves as they lead the way concerning the negativity about ERHC.
Results of management's hard work to develope Kenya are finally getting results and official announcements should be coming soon as ERHC's awaiting official government approval from Kenya.
Will they finally stop the negativity and finally realize that ERHC is getting things done, but at a slower pace then they thought it should be done? Getting anything done in Africa always takes longer than expected, and it's time they finally realize that and look at the outlook
Maybe now those will allow the perception of ERHC to have a more positive outlook.
Krom is correct In that ERHC's share price is based on investor's perception, not any fundamental value. In 2011-2012 the SP hovered around a dime after the dramatic drop from the highs in 2009 because of the JDZ failure.
But how does one explain the steady drop in 2013 to the recent lows of ~4 cents? During this period Kenya and Chad were in a situation of wait and see. This was not bad, but only unknown. The longer this uncertainty, the lower the share price as the nay sayers constantly hammered away at the company.
IMO, the perception of ERHC was considerably lowered because of the constant negative comments about the company. Since the share price of ERHC was entirely based on perception, the negative posters caused great harm to the share price. Although, the nay Sayers blame management for the low share price, they should take some of the blame themselves as they lead the way in their constant barrage of negativity about ERHC.
Results of management's hard work to develope Kenya are finally getting results and official announcements should be coming soon as ERHC's awaiting official government approval from Kenya.
Will the nay Sayers finally stop the negativity and finally realize that ERHC is getting things done, but at a slower pace then the nay Sayers think it should be done. Getting anything done in Africa always takes longer than expected, and it's time the nay Sayers finally realize that and stop complaining.
Most here have asked what the motive of the nay sayers has been to spend so much time and effort to bad mouth a stock they supposedly are invested in. Maybe now the nay Sayers will finally stop their constant negativity and allow the perception of ERHC to have a more positive outlook.
The above post was removed by the Admin as off topic with no right to appeal. Can someone tell my how this post is off topic?
Someone quickly scooped up the last 5.2 cent shares at the open. Now the ask is 5.85 cent!
Anyone selling now has not been following the latest events / announcements of ERHC.
As the perception of ERHC changes to a more positive side, the share price should follow. I expect to hit the 6's very soon, if not today. The 7's should follow next week and the SP should hit double figures when the official announcement about the new partner come out.
This post is about differing opinions concerning ERHC's use of conferences to obtain drilling rights. It is not about other posters, but it about the content of posts to discuss the opinions of these posters. The topic is ERHC and the conferences they attend.
I dont know how anyone can state that the conferences ERHC has attended have not been worthwhile and have led to ERHC's blocks in Kenya. The proof is overwhelming right from the Kenyan govt! Anyone that believes otherwise is mistaken. Some of the statements posted have no basis in fact and the ACTUAL FACTS need to be repeated over and over to attempt to change the false belief.
I would ask the entire board, is there anyone else who agrees with the statement the conferences have NOT led to ERHC gaining drilling rights in Kenya.
DeGen
I find these disruptive children impossible to understand. They are more like brats that have gotten older (without proper disciple) and have turned into bullies. They are uncontrollable and serve no good. They have become so entrenched in their beliefs that anything said to dispute their rants goes completely understood. They are like O.J.Simpson and convinced in their false beliefs. Nothing said will change them.
The only thing that will help is Peter announcing good news, that we all know will be coming soon. I hope before the end of the year.
Since sept 7 Krom has not posted any "opinions" on IHub. I am probably the person here closest to him and I know nothing. Does anyone else wonder what is going on with Krom? Any guesses what he he is up to? IMO, he is doing something involving ERHC and is for the good of the shareholders. I guess like everything else we just have to wait it out.
I hope HDY does not expect any help from me! I am too busy in Naples, FL enjoying life.
DeGen
The guy is a reporter for Bloomberg. Here is a story he wrote about oil on Kenya.
http://www.businessweek.com/articles/2013-03-14/in-kenya-the-next-big-oil-patch
Gremlin, IMO, answering the question as to "why" would be commenting on ERHC and Krom said he could not and would do that presently. Read his lips!
DeGen
On Aug 12, I wrote:
Will the surprise be a "buy out" of ERHC by Sinopec at or above the option bonus price of $0.75? Will it occur just before (30 days) the options expire, so management can exercise and profit from the buy out?
That's my wild ass guess that I hope will occur. Could this be the Merry Christmas we all have been waiting for for so many years?
DeGen
Krom,
My reference to CEO of ERHC Peter N being (a) Houdini was using the Houdini reference as being the the greatest magician of all time. Magicians perform " magic " not just perform escape acts although Houdini was also the greatest escape artist of all time. Peter performed his own type of " majic " as you know with his acquisitions of Kenya and Chad, no doubt a super human feat. As you said Peter did this with little money and a very checkered past history (the DOJ, SEC investigations). Most CEOs could not do what Peter has done under these conditions and any bad mouthing of Peter is just plain WRONG and not justified. No should listen to those that unjustly criticize Peter. In fact those here that continually bad mouth Peter should step back and reevaluate why they try to put Peter in such a bad light.
The big picture is truly that ERHC is a POWERFUL locomotive chugging down the tracks of success and will eventually reach its goal of finding oil. I am proud to be on that train and am also proud that I could help feed fuel to that locomotive by helping resolve the DOJ investigations with my constance pressure on the DOJ to formally release ERHC in writing from the investigation. If only the other passengers on the ERHC train to success would help the train move forward instead of throwing things on the track to impede progesss, the journey would be a lot smoother. For those that are providing negative things to this journey, PLEASE stop it.
DeGen
Middy, you did not address CEO Peter N's comparison to Houdini or his ability to jump. however you are probably right in that Peter is not faster than a speeding bullet or stronger than a powerful locomotive.
The real question is can ERHC's CEO Peter N jump like Superman? We know he can perform magic like Houdini by producing potential oil leases in Kenya and Chad out of his hat or did Peter N really pull those properties out off his aszz?
DeGen
Ps: was it Woody Harrelson who starred in " White Man Can't Jump
I too feel the share price will trickle up this week with no news. Maybe reach the 9s. With any kind of real news, we will be in double digits for sure. I would also agree that those on this board would be loading up as they have knowledge that is not widespread. I would buy more now if I had not participated in the offering at 7.5 cents.