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Thanks Mr. B. Much appreciated, stop by anytime!
I'm out of dry powder but I'm VERY confident this stock is heading up, and up, and up... whether it's tomorrow, next week or next month.
As some have remarked, ANYONE who does a minimum of DD (just pop the ibox open and follow links, how hard is that LOL) quickly realizes that we are ridiculously undervalued.
My point is this. What's a few pennies difference when you are up in the dollar or multiples range?!
60 cents is so incredibly dirt cheap.
PXD, ERHE, DVN News, Business Wire
Pioneer Offered Exploration Rights in Nigeria - Sao Tome and Principe Bid Round
6/2/2005 2:57:01 PM
DALLAS, Jun 02, 2005 (BUSINESS WIRE) -- Pioneer Natural Resources Company ( PXD ) confirmed today the announcement by the Nigeria - Sao Tome and Principe Joint Development Authority (JDA) that its subsidiary, Pioneer Resources Africa Limited, has been offered the right to conduct exploration activities in Blocks 2 and 3 of the Joint Development Zone (JDZ) in offshore Sao Tome and Principe and Nigeria. The Company is awaiting official notification from the JDA.
Pioneer is part of a consortium with Devon Energy ( DVN ) and ERHC Energy Inc. ( ERHE ) which was offered 65% interest in Block 2 and 25% interest in Block 3. Upon receipt of the official notice of the offer, the Company will determine its next steps regarding the negotiation of a joint operating agreement with the other offerees and an acceptable production sharing contract with the JDA.
Pioneer is a large independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, Equatorial Guinea, Nigeria, South Africa and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.
Except for historical information contained herein, the statements in this News Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer's actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product supply and demand, competition, government regulation or action, international operations and associated international political and economic instability, litigation, the costs and results of drilling and operations, Pioneer's ability to replace reserves, implement its business plans, or complete its development projects as scheduled, access to and cost of capital, uncertainties about estimates of reserves, quality of technical data, environmental and weather risks, acts of war or terrorism. These and other risks are described in Pioneer's 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission.
SOURCE: Pioneer Natural Resources Company
Pioneer Natural Resources Company, Dallas
Investors
Frank Hopkins or Chris Paulsen, 972-444-9001
or
Media and Public Affairs
Susan Spratlen, 972-444-9001
Copyright Business Wire
PXD, ERHE, DVN News, Business Wire
Pioneer Offered Exploration Rights in Nigeria - Sao Tome and Principe Bid Round
6/2/2005 2:57:01 PM
DALLAS, Jun 02, 2005 (BUSINESS WIRE) -- Pioneer Natural Resources Company ( PXD ) confirmed today the announcement by the Nigeria - Sao Tome and Principe Joint Development Authority (JDA) that its subsidiary, Pioneer Resources Africa Limited, has been offered the right to conduct exploration activities in Blocks 2 and 3 of the Joint Development Zone (JDZ) in offshore Sao Tome and Principe and Nigeria. The Company is awaiting official notification from the JDA.
Pioneer is part of a consortium with Devon Energy ( DVN ) and ERHC Energy Inc. ( ERHE ) which was offered 65% interest in Block 2 and 25% interest in Block 3. Upon receipt of the official notice of the offer, the Company will determine its next steps regarding the negotiation of a joint operating agreement with the other offerees and an acceptable production sharing contract with the JDA.
Pioneer is a large independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, Equatorial Guinea, Nigeria, South Africa and Tunisia. Pioneer's headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.
Except for historical information contained herein, the statements in this News Release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer's actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of oil and gas prices, product supply and demand, competition, government regulation or action, international operations and associated international political and economic instability, litigation, the costs and results of drilling and operations, Pioneer's ability to replace reserves, implement its business plans, or complete its development projects as scheduled, access to and cost of capital, uncertainties about estimates of reserves, quality of technical data, environmental and weather risks, acts of war or terrorism. These and other risks are described in Pioneer's 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission.
SOURCE: Pioneer Natural Resources Company
Pioneer Natural Resources Company, Dallas
Investors
Frank Hopkins or Chris Paulsen, 972-444-9001
or
Media and Public Affairs
Susan Spratlen, 972-444-9001
Copyright Business Wire
That's part of it. Part...
Sad, but understandable.
Dan, I am just as mad as everyone else, I wouldn't post this if I didn't think it was important (many people probably missed it last night.)
There is DEFINITELY some nasty manipulation and cheap-share-grabbing right now. No doubt about it.
I agree about holding tight. Not just because we have been waiting so long. If we sell now we play right into their hand, AND we'll have waited for nothing, period.
ERHE - What really happened today to our SP (repost of 4106, even more true, they are really going at us... HANG ON TO YOUR SHARES!)
A certain company which I will not explicitely name because it has scads of lawyers ON STAFF (hint #2: this company supposedly had walked away from Round 2 and has billions in the bank) is simply using every dirty trick at its disposal to get back in the game BY RUNNING ERHE OUT OF THE GAME.
How? Ruthlessly simple. Use bottomless pockets to depress the price before and upon release of validating, long-expected, "this is it!" news, thus scaring many loyal shareholders into "it's hopeless after all" selling. Acquire craploads of shares via controlled second-hands to the point where a significant percentage of the float is at hand. Then pounce and make a run at the weakened ownership by offering a buyout price that is far lower than actual value (say, $5 versus $25)
All IMHO. And of course this is all a dream, of course my imaginary friends and I heard it from several birdies on both sides of the Atlantic that are of course totally imaginary.
I just woke up from this dream with these thoughts:
1 - I AM NOT SELLING/GIVING THEM A SINGLE ONE OF MY SHARES.
2 - I SIDE WITH THE MAN WHO HAS TAKEN US THIS FAR AND WANTS TO TAKE OUR COMPANY TO THE BIG BOARDS AS A LEGITIMATE, SUCCESSFUL O&G COMPANY.
How about you, fellow ERHE shareholders?
Out of fairness let us give the survey a few days... Please spread the word folks!
Yes, platina, if I recall the round 1 PSC is 90% boiler plate for round 2. Can't remember who stated that though, wasn't that Gomes?
My sentiments exactly alsoer. Hang in there everyone!
SURVEY. I'm asked to let you know to click "other" then "surveys", as there is no direct link at the top of the page. I guess this applies to freebie IHUB customers, it looks like we're not quite getting the same screens.
OT - FWIW, Elsie, there are few fundamental differences between the British parliamentary model and the American model. Both have resulted not in democracies but in what I like to call long-standing "duocracies" where the two dominant parties have an iron lock on the country and its affairs.
HP correct me if I'm wrong, I believe STP recently had at least 4 parties involved in the government?
IR survey is up!
"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 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!
I believe he gets paid in shares manti. Board, correct me if I'm wrong please.
Now I'm confused. Are you saying they will drill test wells BEFORE signing PSCs?
Thanks very much. Keep us posted will ya...
Not likely, it's just the democratic process at work. It might affect their EEZ though, although to be frank I have never taken that end of the year timetable seriously.
Agreed. My vote is for NAS, hands down. Lots of crookery on the Amex floor...
ERHE needs BADLY a good IR firm that is responsive and gets the word out. This would be money extremely well spent in this case. I have called for our company to do that a LONG time. Have you ever called investor relations at ERHE? It's an exercise in frustration, and I'm putting it politely.
In fact, the first I called, the experience was so unprofessional and unpleasant that I ended up almost NOT buying my first 10K shares.
That's a nice release. ERHE, have a look!
Can you give us a quick take on whether you think it'd be worth plucking a few $$ in GEECF. What's your overall take on the company?
BB my understanding was that they have known the broad lines of the deal for months, so I don't expect any problems there.
You know I've been a nit harsh (i.e. realistic) about the JDA and coming down on their amateurishness but this time they DID post the official PR within 24 hours.
Do you think the cos might actually be looking at PSCs? Two have rigs in the area right? Wouldn't that make sense after all this lost time?
A bit on the market makers - FYI -
[REPOST, WAS 2787, BY MACDAD]
Retail Market Makers:
These are the market makers from very popular brokerage firms. They handle a lot of the order flow for small retail investors.
NITE:
SCHB: Schwab
TDCM: TD Water House
SBSH: Smith Barney
MLCO: Merrill Lynch
GRVC: ETRADE
This is the list that you really have master because these are the MARKET MAKERS that handle promotions, insider transactions also S-8 and CD Transaction.
CD: means Convertible Debentures they are loans the come due and get sold into the market by the loaning company.
There are lot market makers in this category so I will break it down to who are the most important: These are some of the more active MARKET MARKET MAKERS on the street:
FANC: major S- 8 player: if there is an S- 8 on a Stock most likely
he will be there on the ask until it dries up
HDSN: major CD Seller Handles a lot CD transactions. formerly was
WIEN.
VIEW
DOMS
GNLN: one of favorites: smart money more like a trader than market maker
VERT
CLYP: heavy seller if you see him on the bid it's unusual
BMIC
FLCR: been very active lately especially on LENF and UGHO
SACM: heavy seller spends alot time on the ask, well known daily shorter, also
HILL: very weak smoke screen for NITE
VFIN
AYME
CRWN a pure trader
STCS
PUGS: new player this year, has been around and dormant until 04
PBLC
VFIN
PERT
MRLN: one of my favorites more like trader
BKST
BNCH
BAMM
AGIS works very closely with SCHB, sometimes shorts
ECN MARKET MAKERS
GNET: owned by ARCA: very active used by traders market makers any
one can use GNET you have to know what your are doing. If you have
access to ACRA trading system you can use gnet
TRAC: owned by mytrack if you trade with my track you can use this to place your trade as a liquidity outlet same 4 data
DATA: owned by my track same concept as GNET & TRAC
There are probably a few market makers that I left out or there will a few new market makers that show but for the most part these are the major players. Good luck hopes this helps.
"I can see the man I want to be - In my daughters eyes".
Dead giveaway right there. Absolutely outrageous.
Max, have you tried Scottrade? Might want to grab an account there. What I like about them is that if something goes kookoo with the electronic trades, you pick uip the phone and give your LOCAL office hell. It's amazing how fast the situation gets corrected sometimes (because they know one can walk right in there? LOL) I believe they also use a variety of MMs and even the one(s) you desire if you know exactly what you want.
Not sure if they would accept a teeeny tiny fish like you though LOL.
Are you sure our partners haven't been given official notification from the JDA?!
ajman, this is not about you being right or wrong. In fact, if you had read my post slowly (LOL) you would have noticed that the hostile actions/takeover I am referring to INCLUDE the "creative use" of MMs. That makes you both right.
I respect that anyone would not heed my warning and get on their toes. Everybody has their own way of looking at a situation. I just wanted to share with the board a very important (IMHO) piece of info that explains why today we didn't hit $1+ with 25 million shares.
The SEC is hopeless, IMO a bunch of crooks themselves who do not care about the small investor ONE BIT.
Much better off reporting directly to the company and let their lawyers deal with it.
My two cents.
Bingo.
BTW the word is that our Chairman is standing strong. He is a smart man surrounded by smart people and I'm confident he isn't dumb enough to sell at this very moment. But THIS is not his turf, that's why they are so brazen.
This company is also OURS, let us be Mr. Offor's eyes and ears in the USA. You'd be surprised what you can do as a team...
SH there are many ways for them to do this. They feel much more comfortable here because it's home and they control the game (including apparently some MMs.)
What do you think would happen if/when we get PRs from partners, then PSCs, and we are still well under a dollar? All but the die-hard longs will run like hell and sell. And what if they gain control of FAB, and their ERHE shares? Same result, or worse.
This is all about BUYING the company, and as cheap as they can (looks like they are really pissed.) Next they gobble up Anadarko. Now they control the entire JDZ. Simple.
What can we do? Be alert, keep talking about it, post anything we come across, EXPOSE them (my understanding is that it's red alert right now at ERHE, because the foe is using ANY means, legal or otherwise), keep our shares (Offor/Chrome is supposed to have control/majority, but still...)
Going to bed soon... Have been up for 17 hours.
HEADS UP! petemantx I'm not qualified to answer the technical questions but while they have clearly succeeded to a certain degree (their shenanigans were obvious as early as a week ago) I wouldn't think "massive stock sale" applies at all (only 20 mil out of 400 mil traded these past two days.)
That's why I'm relatively optimistic.
I am unfortunately less optimistic about reading the discussions/bickering about things that aren't even currently in the picture since I posted 4106. My birdies are very much in the know and this is a dangerous situation, RIGHT NOW. To be brutally honest I'm VERY surprised by the overall lack of reaction.
The "company in question" COULD have their way (let us remember, that's what they are used to) and that would mean a quick death for ERHE.
This would be a good time for shareholder awareness, and togetherness. As good as ever.
SH, see my recent post.
ERHE - What really happened today to our SP.
A certain company which I will not explicitely name because it has scads of lawyers ON STAFF (hint #2: this company supposedly had walked away from Round 2 and has billions in the bank) is simply using every dirty trick at its disposal to get back in the game BY RUNNING ERHE OUT OF THE GAME.
How? Ruthlessly simple. Use bottomless pockets to depress the price before and upon release of validating, long-expected, "this is it!" news, thus scaring many loyal shareholders into "it's hopeless after all" selling. Acquire craploads of shares via controlled second-hands to the point where a significant percentage of the float is at hand. Then pounce and make a run at the weakened ownership by offering a buyout price that is far lower than actual value (say, $5 versus $25)
All IMHO. And of course this is all a dream, of course my imaginary friends and I heard it from several birdies on both sides of the Atlantic that are of course totally imaginary.
I just woke up from this dream with these thoughts:
1 - I AM NOT SELLING/GIVING THEM A SINGLE ONE OF MY SHARES.
2 - I SIDE WITH THE MAN WHO HAS TAKEN US THIS FAR AND WANTS TO TAKE OUR COMPANY TO THE BIG BOARDS AS A LEGITIMATE, SUCCESSFUL O&G COMPANY.
How about you, fellow ERHE shareholders?
Nice post CJ. A must-read IMHO.
Will do Iceking. Thank you.
THIS is just as NICE.
Wow, and you even ask us to remove that post yourself (will do.)
Very impressed.
Proud to be a part of this crowd!
SK, now THIS is nice. We all make mistakes. The big man or woman knows to apologize...
THANK YOU!
Good for you HP!
ERHE - The official JDZ Round 2 results
PRESS STATEMENT, 05/31/05
ANNOUNCEMENT OF BLOCK AWARDS IN THE 2004 JDZ LICENSING ROUND
The Heads of State, Presidents Olusegun Obasanjo of Nigeria and Fradique de Menezes of Sao Tome and Principe, have approved the award of blocks in the 2004 JDZ Licensing Round. The awards structure is attached herewith as Annex A.
2. The awards were decided at a meeting of the two Presidents held in Abuja today (31st May 2005), which is coming at the heels of the just concluded JMC meeting held in Abuja. The JMC meeting had forwarded the harmonised award structure to the two Heads of State for their endorsement.
3. While congratulating the winners who would be issued letters of awards immediately, the JMC/JDA wish to once again thank all companies that bidded and other stakeholders for their patience and sustained interest in the activities of the JDZ.
Nigeria-Sao Tome and Principe
Joint Development Authority
31st May 2005
NIGERIA-SAO TOME AND PRINCIPE JDZ 2004
LICENSING ROUND
APPROVED RESULTS
COMPANY/BLOCK SIGNATURE
BONUS
EQUITY REMARK
BLOCK 2 $71 million
Devon/Pioneer/ERHC
(including existing Rights)
65% Operator
Equator Exploration/ONGC Videsh 15%
A. & Hartman 10% Nil
Foby Engineering 5% Nil
Momo Oil & Gas/SOJITZ/IMT Int./NISSHO IWAI 5% Nil
BLOCK 3 $40 million
Anadarko 51% Operator
Devon/ERHC (including existing rights) 25% Nil
DNO/EER 10% Nil
Equinox Oil & Gas/Equinox & Energy
Limitada/Petrochina
10% Nil
Ophir/Broadlink 4% Nil
BLOCK 4 $90 million
Noble/ERHC (including existing rights) 60% Operator
Conoil 20% Nil
Hercules/Centurion 10% Nil
Godsonic Oil and Gas 5% Nil
Overt/Addax 5% Nil
BLOCK 5 $37 million
ICC/OEOC Consortium 75% Operator
ERHC (Existing Rights) 15% Nil
Sahara/Denham/WoodGroup 10% Nil
BLOCK 6 $45 million
Filthim-Huzod Oil & Gas/DNO
ASA/EER/SINOPEC
85% Operator
ERHC (Existing Rights) 15% Nil
………………………………….. ……………………………………………
ALHAJI ABUBAKAR A TANKO ENGR. ARLINDO DE CARVALHO
For and on behalf of the For and on behalf of the members
Members of the Nigerian DRSTP Joint Ministerial Council
Joint Ministerial Council
http://www.nigeriasaotomejda.com
ERHE all over the place... What do you guys make of this weird day? Do you see a lot of stocks in this range behave this way?
Or see #4031 or our board, do shoot it if I'm way off.
Not worried, but very interested in your expert opinions.
Ditto, this will help establish ERHE in the eye of the general investing public.
Magic what do you think of what I posted in 4031?