Although it would be nice, I can't see it.

The reason being is that China is trying to get rid of it's USD, not hord it. Therefore issuing 28-40 M shares to ERHE would defeat that purpose. It would seem simpler and go along there "remove some of our exposure to USD" doctrine, by having an all cash buyout. Just like they did with AXC for 10B (8B + 2B debts).

If they can fork out 10B for AXC, they will not blink at 3-4B for us. Therefore, I don't think shares swap in our future. Again, I see Marks latest DD posts match Balance's previous post, it's just a question of how much per shares and I'm willing to bet that it is still in flux (3-4 too low, 10 too high). My bet goes with Spec29 on this one $6.60ish.

IMO

Brez

Bro you're the best! Thanks.

Brez

Thanks Mark,
Let her rip brother! Looking forward to reading your hard work.

Cheers
Brez

PS. Keep up the good work.

No problem, it was a crap shoot anyway! :0)

Cheers
Brez

Thanks
Brez

Mark,
The markets are closed, can you give us a hint on the generalities or the subject?

1. Buy out
2. Buy in
3. Partnership in EEZ
4. Listing on AIM
5. PN got a new tie?

Cheers
Brez

Thanks

Cheers
Brez

AMJ

Perhaps it is now a good time for you to volunteer some of your time to become a moderator? I mean it's always easy to complain when one believes he can do a much better job. No one is perfect, so if you feel a moderator made an error, go through the channels (which you did), but more importantly, remember that they are volunteers not your hired help. Therefore, when my posts get deleted, I give the mods the benefit of the doubt.

Cheers
Brez

travel it was the sign on Marks drawing that said "big news". No worries, he'll come back when he gets details.....

Cheers
Brez

Thanks for correcting me, I did not follow closely the "who's on first" STP block picking. All of that is pretty much water under the bridge now since we've got our blocks.

Cheers
Brez

Mark,
If the news is "really big", please forward it to the Macau news. They were the ones that broke the rumour of SNP buying out AXC. I would love the same amount of coverage!

Cheers
Brez

PS. Still post it here first though!!!

Sorry Tamtam, I didn't mean your speculating, I meant I'm speculating! I was posting faster than my thought process was capable of analyzing the EEZ block situation! :0)

I'm back at work tomorrow and I get the email then!

Cheers
Thanks
Brez

I think I'm going to stop speculating and I'll just keep in mind that SEO has so far done us good, and I have no reason to think that he/they didn't do the best they could here. So I am content with our pick.

Tamtam did you send that email to my Langley address or home. If home I did not receive it. If Langley I did not check in yet since I have been on the road for a week or so. Can't wait to read the story (non-ERHE related for those that are curious)

Cheers

Brez

It's all good whichever way it works out! I don't want to restart the whole "who's on first" discussion that went on before.

I'm happy that it seems that we have good blocks. EEL chose blocks next too ours because of the Seismics or proximity to Gabon and Guinea?

thanks justfactonly
Cheers
Brez

Great Find!!!!
That settles it! EEZ kept blcks 1,2 and 3 for themselves. ERHE then picked 4 and 11. EEL followed suit with 5 and 12! I notice that EEL blocks are leaning more towards Gabon than the islands. It will be nice to hear the rational of our picks some day.

Cheers
Brez

C'mon Mark spill the beans. You don't have to go into massive detas here. Just give us the general stuff you are hearing with the usual caviats and we would be good to go!

Cheers
Brez

Close brother...close!

Brez

Ahhhh! Thanks

Last post for me and on the road all week, so good luck to us and I'll be watching the SP on my iPhone!

Cheers
Brez

Sorry brah,

I don't know who Leona is, so I'm going to take that as a humorous post. It would have been nice though!

Cheers
Brez

Sorry Krom,
For the paranoid and uneducated (not true but it sounds good right now!), can you tell me if this was a joke post, or are you actually passing what you've heard from a serious source???

Cheers
Brez

Thanks, didn't mean to create more work for you. If I ever come across releases I'll let you know.

Cheers
Brez

Damn Strass, I actually feel cheapened! And I felt good about my posts today!

Cheers
Brez

Sorry, like my other post that I said it was just an example to defuse the "never". The actual date or year was not important.

I've not looked in depth for later release and I currently don't plan too.

Cheers
Brez

I can't comment on that since I don't have the time to check the SEC filings, but my comments was just aimed at defusing your statement that SNP has never (implying will never) release the results. Again, if SNP results release can be found on Google, that's good enough for me to nullify the very scary implications that you posted. No disrespect intended though so please don't take it as such.

Remember that the buyout of AXC was first broken out by Macau news, even though SNP and AXC initially shrugged it off, not by a SEC filing. The share price went from 30's to mid 40's and then we found out that it's true etc etc.

Cheers
Brez

amj,

My thoughts exactly. I want to stress though, that I do not want to be seen as rubbing EEL shareholders nose in it, because who knows, it could have been or could be us. But, when you compare the way the two companies have behaved in the market or in their dealings, all I see is;

SEO got us fantastic rights, great partners, free carry and is seemingly influential in the region. He got us all that, and now they are working on solidifying our rights in the remainder of JDZ and in EEZ.

So, if I were to look at which company I would believe and trust more, my money goes to ERHE. So again, perhaps leaks of info (willfully or not) were picked up by respectable posters on the EEL board and passed on to our board, but I just do not give any weight to those rumors until they can be "triangulated" with other non-EEL related rumors.

All we have so far is multiple sources stating gas and oil in all blocks. So, that's good enough for me so far!

Brez

John,

What the hell is going on here? I think that during time of uncertainty and confusion people are vulnerable and easily influenceable and some no that. Posters on this board may post in good faith, but the information that they are passed may be slightly distorted to achieve a purpose and those posters may become part of that purpose, unknowingly.

This is the part where we "suck it up". We trust our DD and ride it out to the end!

Cheers
brez

ftc,
I'm not sure if I can agree with your statements. When I read your post, I did a quick Google search and came up with this;

"the aggregate proved recoverable reserves in the Puguang Gas Field are estimated at 251.075 billion cubic meters and the technical recoverable reserves at 188.304 billion cubic meters. The Puguang Gas Field is also one of the five gas fields with reserves of more than 200 billion cubic metres discovered in China.

According to the assessment results, the Puguang Gas Field is qualified for commercial development. Sinopec Corp. has submitted a proposal for Phase I development to the relevant department of the State. According to the proposal, production of commercial gas will exceed 4 billion cubic metres per annum by 2008 and reach 8 billion cubic metres per annum by 2010."

http://english.sinopec.com/media_center/news/archive/2006/20060402/2336.shtml

So, if I can find this result release in less than 5 minutes, I'm sure there must be others. Therefore Sinopec does release results.

Cheers
Brez

Mornin' Tamtam, no sweat, actually your post gave me an "in" to pass on my thoughts on the info passed from the EEL board.

Cheers
Brez

You are correct.

But, if I were to sit back and look at both EEL and ERHE, why is it that EEL seem to be providing information (AFREN too I believe) but nada from ERHE. My best guess at this moment is that ERHE is playing by the Rules of Engagement and others are not. Now, the only way that I would play by the rules and try not too "skirt" them would be if I had something good to loose.

Therefore I conclude that EEL and Afren have no relationship to endanger with SNP while ERHE does.

It's a simple conclusion, but it also goes to help in formulating the "why" some info about gas potentially leaked out but not oil (because if it was only gas, all results would have been released or nothing at all and exploration would have slowed down imo). This would hurt EEL more than it would hurt us, especially if "we" know that we have oil in blocks 3 and 4 while EEL only knows about block 2. Sort of punishment for wanting to release or pushing to release results of all blocks against SNP/AXC's wishes.

Again anything is possible, but I'm following my gut on this one. My gut tells me we will be fine (hopefully this is not the point where the camera pans ahead and shows me fat dumb and happy, floating towards a massive water fall!!!).

Cheers
Brez

Petemantx,
Again, I personally do not believe that EEL is putting out the complete results. If that were the case than the news channels in the world would have put out the stories. I believe that, partial results have been leaked out. Now if partial results have been leaked out, was it by accident? Was it by design (to serve a desired outcome)? Was it by illegal means? I don't know the answers to the previous question but I know this;

1. Oil companies are probably still looking at the rest of the acreage in the JDZ and evaluating if it's worth their participation or not. If the results are good, then advertising now undermines their chances to bid successfully. If the results are bad, the JDA may not want to release the results to ensure good auctions. Although in this case, if the JDA withheld results from bidding companies they would burn their bridges, so I don't think they would do that.

2. EEL and ERHE are in the process of choosing their blocks in the EEZ. EEL has partial information for the block that they are in (blck 2 only I believe, but could be wrong). They have to choose first their two blocks. ERHE has a better picture of the geology with knowledge of blck 2,3 and 4. So they will sit tight and do nothing until EEL chooses their 2 blocks, then they will choose their two. Again, why would ERHE divulge any information about any geology in the area that would make EEL more informed about their two choice before ours? I would not want that.

3. SNP would like to participate in the EEZ, since I believe they set up shop in STP. So if they were to partner up with a company for acreage in the EEZ they would probably do it with a company that they are already partnered up with and with which they see eye to eye. Here, I would think that EEL releasing partial results will not make SNP folks happy and therefore it would be less likely that SNP would partner up with an "informational weak link". So SNP can guarantee themselves two descent or very good picks by partnering up with ERHE. Again, they have the info and the personnel (through themselves and Addax) to interpret, consult, and guide ERHE in their picks, after EEL has chosen theirs. So why release the results now and help the competition? I would not, and again if the information was released and useful to help the competition and undermine my SP value in ERHE, I would be ticked!

So when will the results be released? I don't know, but I know that I want our 2 100% blocks down in writing before they are!

All of the above in my opinion.

Cheers
Brez

Thanks Spp for your efforts in vetting all information you provide.

Let's hope that all the uncertainty will be laid to rest soon!

Cheers
Brez

Thanks Tamtam, Spp did post that post yesterday I believe.

Here's my take on these posts from EEL. I have to be very careful who I trust on a site that I have followed for over 7 years (here on ERHE). I have come to conclusion that most only know half truths or no truth at all. When they do get it right, it's usually days before an announcement.

Therefore, I put even less faith in any news coming from another board of which I know nothing from the posters there, other than their company has so much less % in the JDZ than us and have much more financial issues.

So I look at these posts as guess work from EEL posters, at best.

Cheers

Brez
PS. For all our Chinese friends monitoring this board, Happy New Year and let's hope that the year of the Tiger will make our SP roar!

MD,
Can you post the post# where BB claims it has is own, please.

Thank you
Brez

Dudes...what we see in the rear view mirror,

was the buying opportunity... bye bye.

Cheers
Brez

Swwwweeeeeeeeeeet!!! Good find HP

Cheers
Brez

To have a discussion does not mean a one way barrage of disinformation with the sole objective to create confusion and doubts.

That's called "Noise Jamming", we have enough of that around here.

Great post Tapco1, well researched.

Brez

MZ157,

I agree that we are way over sold. I do believe that we have our own "Micro Market" here on this board. The shares sold and bought are changing hands between members of this board. The daily volumes are very low, so I do believe that the price fluctuation is very much driven by the sentiment of this board.

The bashers were out for blood in the last few weeks, and were successful in turning every bit of news (AIM listing, ERHE Q&A) into their advantage. Planting the seed of doubt forced a few to sell some shares, this reinforced the notion that all that is happening "is negative, because the market says so" and caused more to sell. Finally we are here.

I've got a feeling that a few will wake up in a couple of months banging their heads on the mirror saying "Why did I sell? Why did I sell? Why did I sell?"

At this point, you've got to put your emotions aside, and think "Is this stock worth more than $1?" my answer is and always has been "Hell yeah!". So I sit back in frustration watching the vultures circling the very preys that they have created!

Cheers
Brez

RKT989,

I was thinking the same thing on Friday. I actually turned off my ignores to see if it was only bashers posting.....but nothing???

It was quiet...too quiet...than I realized, perhaps their job is done. Perhaps their goal had been achieved. Perhaps their involvement is no longer required because a deal had been struck and an announcement this weekend or Monday morning was scheduled!

But as far back as I can remember, I've never seen all bashers go away at once.

At this point, one can only hope!

Cheers
Brez

OT. Tamtam, Armagnac is my favorite, but I am willing to try the 1878 Cognac!!!

Cheers
Brez