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NOt a typo on Martinez-Urbina. They operate from the same addresses one of them being ERHC headquarters.
How does this wedge into ERHC? Does this mean ERHC blocks?
I am only asking questions and pointing out what is (unfortunately) painfully easy information to find.
What we have here are two contradictory ideas that are coexisting.
1) There are short-sellers trolling this board and hoping to make millions as the stock dips below fractions of fractions of a penny. Legal issues over legit Block rights and gag orders won't let the company talk about it, but it will work out =
Short sellers are scum and lawsuits are keeping the company silent but it will pay off.
OR
2) A shady company that has not defended itself, nor operated in a manner that would make them compliant or even get a passing grade in any business 101 college course. You cannot get an email returned, have no financials, and they are operating 100% in the dark =
A fraudulent company that scammed millions
Only one of those things can be true.
Again, I have no intention of selling any stock. It would just be foolish to do so and I would love for my dad to have been right. However, I lean towards door number 2 based on less than a few hours of research. Even if it does eventually pay off, it might be to my grandchildren given the current pace of events.
Very Helpful. So a Death Spiral. What is the value in Ntephe even maintaining the company? Why not just shut it down, file bankruptcy, and be done. It cannot be generating any income for him at this point. Is he just hoping one day to sell interest in some of the blocks and hopefully hide the transaction from any remaining shareholders?
Yes, I have read the SEC report.
That was very helpful. Seems like the board was shady AF. No oil. Spent millions. No communication with shareholders. Delisted and IRS liens and Tax audits. All adds up to an unfortunate investment for my dad. You know, I just wish he had told me what he was doing. I am a retired Fed who had some skill set in investigations :) I could have at least thrown some shade on the company. Although, he was stubborn enough to stick it out anyway. I'm just gonna hold it and maybe... one day it will pay off and get the last "I told you so".
My biggest question is
If they sell interest in some blocks, or oil is found, or anything like that happens, what guarantees we will get paid? I mean couldn't they just shift assets to one of their many BS companies, and run? Couldn't they just dip to Nigeria and avoid any criminal or civil litigation? Nigeria has extradition treaties, but good luck with that one.
Has ANYONE been to the Capital One building in Houston to see if they even really have an office there?
Looks like he was buying shares in late 2014. Before the split.
Isn't that the point? It only took me 2 hours to discover they are working out of a house. They own several other shell or worthless companies and coincidentally acquired a clothing company that also works out of the same house. A Short-seller researcher would have a field day with this and possibly rightfully so. There is nothing that would indicate this is a wise investment. Now, that said, I would not sell either. There is just no point. I hope the indicators are wrong. I would LOVE to see this stock do well.
My biggest question is this:
If interest in some of the blocks was sold, could Ntephe and Odobulu take the money and run? What would prevent that?
In other words-- how much shady shit could happen without out knowledge or without recourse?
Thanks for the condolences. I am just trying to figure out this company. I do not like what I see on the face of it.
Definitely not a typo. The registered agent for Martinez agent was changed and the latest activity was Dec 2019.
Thanks!
I have no intention of selling. I did not pay for them and it would just be silly. It is more entertaining to watch it gain.0001 then drop again.
My questions stand though
Has any oil been found?
If oil was found or interest sold could shareholders be screwed just by transferring assets to a shell?
These are pretty normal questions when dealing with a grey sheet company. Hence why it is often prudent to research... A lot.
They are a Grey listed company. That means limited oversight. SEC is likely not going to ever investigate a grey company. Caveat emptor.
Peter Ntephe is listed as CEO of an active company in El Paso
Martinez Urbina. What the company does is unknown, but changes in registered agents make it look as Ntephe and Odobulu bought control in a company so they did not appear to be a new company and thereby acquired a company with a history beginning in 2003, enhancing the company profile.
UNIVERSAL PROTECTIVE PRODUCTS is located at the same address "11696 Gwen Evans Ln El Paso TX". It seems to be a DBA for Matinez Urbina. They are classified NAICS Code 448190 - Other Clothing Stores per North American Industry Classification Code
Address is a house in El Paso Tx Tax Info
This house google map is the headquarters for both Martinez Urbina Associates and UNIVERSAL PROTECTIVE PRODUCTS. In some documents, Martinez Urbina Associates lists the ERHC address of the Capitol One building at 5444 Westheimer Rd.
SYLVAN ODOBULU summary of Odobulu listed as Controller for both companies.
I suspect they jumped on the covid mask craze, probably got grants, or requested prepayment and either resold at 300% markup or never delivered like many many fake mask companies. feds investigate mask fraud
Resellers pretend they are manufacturers
Ntephe and Odobulu are listed as officers in woodside energy
https://ibb.co/4SXmqmZ"><img src="https://i.ibb.co/pKM070v/Capture.jpg" alt="Capture" border="0"></a>">https://ibb.co/4SXmqmZ"><img src="https://i.ibb.co/pKM070v/Capture.jpg" alt="Capture" border="0"></a>" />
So In closing, I would submit that if you scratched the history of ownership of ERHC, there would likely be a trail of change of owners, registered agents, and personnel. It would include these con artists that somehow made a fortune at the expense of shareholders.
It has taken me only 2 hours to compile this info
A 2020 Article on Peter Ntephe
ART COLLECTOR
I inherited a lot of shares in this company. I watch the posts here, but still not clear on anything. So I will simply ask a few questions and hope for answers:
Does ERHC still own or have interest in the following?
Block 11A in the Republic of Kenya, interests in Block BDS in the Republic of Chad, interests in six Blocks in the JDZ, and 100% working interests to Block 4 in São Tomé & Principe’s EEZ.
Has any oil actually been discovered in any of these blocks?
I am reading posts about Canadian shorts... what is this about? ERHC was delisted for delinquent filing and is now a grey sheet stock. This means there is little to no recourse if stocks tank. It also means shares cannot be shorted and limited, if any, SEC oversight correct?
If ERHC wanted to act as a private company why not just become one? That entails having to purchase all the currently owed stock certainly, but at a fraction of a penny per share, it would seem the thing to do so they don't have to answer to anyone.
If a deal is made or owned interests are sold, what does that mean to us, the stockholders?
Could a shady deal be made and shareholders not paid?
Wouldn't current board members want to see stocks go up?
Did any insiders lose money as the stock tanked?
Was this a pump and dump? From What I can tell, this one little small company out of nowhere negotiated for interests on all these blocks and got very good terms.
The wiki for EHRC is lacking. Why haven't dissatisfied shareholders here updated it with factual data to reflect the actual history of the company if they are fraudulent? The company has been in business for many years (1986) and was a non-player really until about a decade later, when it burst onto the scene, yet has never found oil from what I can tell.
ERHC Wiki
Original contract with São Tomé & Principe this was signed in 1997.
Reverse stock split
What was the purpose for this?!
Why was there a branch office in Utah? Utah/Colorado Branch incorp
Has anyone talked to a manager or exec in the company? The phone number listed still works but sounded like an answering service.
Was this company ever profitable? In 2016 SEC had concerns. "As of June 30, 2017, the Company has a working capital deficit and negative cash flows from operating activities. The Company also has significant tax arrears which resulted from a deduction disallowance made by an IRS audit of ERHC’s 2006 return, which audit lasted nearly seven years and has been previously disclosed. There is an outstanding IRS lien imposed on ERHC in Harris County, Texas in consequence." SEC report
My dad invested a significant amount of money in this company.
A rhetorical question: Why on earth with this information publicly available would anyone invest in this company?
Am I missing something or is this stock still viable and will any stockholders ever make any money?
For sure
Thanks for the insight. I will just hold it until it either goes to absolute zero or the stars align and a miracle happens. :)
Thank you so much!
You know I have no idea what that means. Perhaps an explanation would be better.
Yes, he was ajaxx_99. he posted frequently until about three years ago.
Kind of rude... my dad died last week and I'm looking for some answers on how he lost a considerable amount of money. Thanks for the snark.
Bullshit what?
Good Day,
I little help here if possible.
I know little to nothing about stock investments.
I have inherited what appears to be a worthless stock-- ERHE.
I have been researching this going back to 2007 to include CEO, CFO, board members, etc. It feels like it might have been a shady company from the jump.
I have some questions and I see many of you have been following this for a great deal of time and may have knowledge that could give me perspective.
I see the company is still on the board, but OTC Pink Sheet (just learned what that means lol). Value is now around .03 a share. My father appears to have lost a great deal on this- as have many others I think.
So--
1. If drilling starts and/or oil is found in any of the Joint or Exclusive Zones, would we even know if they did, and would that affect stock prices?
If they sold interest in the Joint or exclusive Zones, would we know, and does that affect stock? If they did would we even be entitled to payment as shareholders?
Are we sure they still own interest in any of it? or perhaps have they sold it already?
If they go private does any of the stock we hold have any value? If It was bought through a brokerage what happens to it?
I have seen that people on this forum are discussing certificates and that without one if the company goes private stock is worthless without one. Walk me through this -- I am a newb.
The Latest 13D/G Filing indicates someone is purchasing stock... Why?
The company did not file bankruptcy, but that really doesn't mean anything correct? They could just run back to countries that would nullify any attempt at redress correct?
There is an article which says: Total to begin exploration in Nigeria-São Tomé and Príncipe Joint Development Zone. Article Does this mean anything?
Was this a scam from the start?
SO. Many. Questions. Sorry.
Any opinions are welcome.
Oiltech I think us old timers here have all the "Buy signals" we can handle... Besides, the press release sounds like a lot of "Maybe's" to me. Not a least bit impressed......
midtieroil I hate to admit this on the board but i bought $5K worth of "dilution insurance" Right now i feel like the Dumb-A*S of the century...The only "miracle that will happen is they will get away with it.
midtieroil Who do you think is buying all these shares and why ??? It seems to me that the shares will become worthless in a few months down the road....I don't have the expertise in market strategy as you, but it seems very strange to me.
umbra Glad to see you are still alive and kicking.... I don't come here often either..Truly disappointing performance by ERHE.
I Think once a company goes pink the SEC losses interest, even though ERHE is an American company.
I WONDER WHO IS BUYING AND WHO IS SELLING AT THESE INFLATED PRICES )
AMEN !! EOM
midtieroil ....I have agreed with most of your posts since the JDZ flopped....I was pretty much stuck in this stock since then...I am not selling or would i buy one more share....I doubt they could try to sell more convertibles.... Who would buy them ?? You know the old saying "fool me once, shame on you...Fool me twice, shame on me" I wish it would end, one way or the other.
Midtier is right, If 11A is a dry hole it is all over ....Go lick your wounds like i am doing....I have lost more on this stock than any other i have ever owned.... Could be "management" will transfer any "assets" to one of the shells and try to start the scam all over again under a different name.
midtieroil ..... Thanks for the reply. I have suspected everything you wrote for a long time, The violations are so flagrant i just don't understand how the SEC can just keep ignoring them.
midtieroil Does the SEC really care about stocks on pink sheets ???
" AllThose" have very little value in my opinion.....All dusters..Since the failure of block 4 in the JDZ I have pretty much given up recovering my "investment"
'emdyal..If 11A is a duster there is no "assets" left to steal.....It will be all over folks.
midtieroil I think you are right most of the time....I haven't followed ERHC mush since the 4 dry holes in the JDZ,,, Its been a Nigerian scam since then. I am still holding mt shares because i am not willing to sell for pennies on my dollar investments.I would rather go to zero and put it down to educational expenses.....The only thing i feel good about is i NEVER recommended this stock to friends.
midtieroil Will they be required to tell us next quarterly ???
EXCEO. I was so sorry to hear of you medical problems, you will be very missed on this board.... Fear not though, as someone that has had a near death experience in the past, this is not the end...
Life is eternal, and love is immortal,and death is only a horizon,and a horizon is nothing save the limit of our sight.......... R W Raymond