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Dane, exactly! How does that old saying go "better to keep your mouth shut and have people wonder if you are an idiot that to open your mouth and remove all doubt!"
Looks like our fearless leaders have removed all doubt.
Mark has been out since 70cents. I am pretty sure that was the price when the last load of manure was delivered.
What is that new stock you and Mark are hyping? MF'r? Very fitting!
Is Mark hyping that stock the same way he hyped this one?
Krom, First of all, I am upbeat about the meeting results. Second, don't bury your head in the sand about dilution. It will have to happen if they want to buy marginal wells to create near term revenue. We are still more than Five years away from any kind of revenue in JDZ. The only other source of revenue will be the farm outs from the EEZ. The Aim listing is not going to be free either.
Just one question. Can I have one of your pens?
Was there a meeting today?
I had heard it was October, but I just looked it up and it is the end of the year. Sorry my bad.
Tim
It would be nice to be out before October when the long term capital gains reduction expires.
It must be a Michigan thing! LOL
Red,
The Prilosec is in expectation of nothing happening at the shareholder meeting. The heartburn will be caused by the shareprice drop after nothing happens at the shareholder's meeting.
I think we could easily touch the .30's if we continue to hear nothing but crickets chirping out of this company. That will cause plenty of heartburn for me in the short term.
I just got a mental picture of a proper English woman doing a Polish nose blow to eject a chunk! Thanks for that LOL
Good post Exceo. I have started taking Prilosec with my Kool-aid in preparation for the heartburn that I expect is coming with the shareholder's meeting.
if you don't mind me asking, what is wrong with Mark's dad?
Looks like you are out of company Kool-Aide. Rose colored glasses will do in a pinch until you get more! LOL
Mongo! How are you! I had my suspicions that it was you until this post. Now I am sure!
Still trying to save us all from ourselves I see.LOL
LOL! So you have the same sources as Mark.LOL
Would't want to be out of this for the weekend! (Wink wink). We are Golden (nudge nudge).
Know what I mean, know what I mean.
Tomorrow morning will be interesting. Real drilling result or a JDZ update.
One means a meaningful rise and the other could be the initiation of yet another wash, rinse and repeat cycle.
Man! my prediction was going so well too! Did Umbra say something about Easter? LOL
Hope this means good things and not just the long weekend thing again.
Don't forget the holiday weekend. Wouldn't want to be out of this stock for the holiday weekend! LOL
OT 37 all with 1:40 to go in the first half. No offense Mark but go SPARTANS!!!!
Call it what ever you want. The good news for us is that it allows us to wait through phase 1, 2 or 3 with no cost pressure.
Great post FTC.
I agree with point number 10. SNP will not release the drilling results. It is not in their best interest. Sneak-attack had a great post on the other board about all of the other minority postion companies. They can't afford their portion of the cost of drilling. With no results from phase 1 and the looming costs of phase 2, Total and Sinopec will be able to eliminate them for far less money than they would if great news was announced. Only the JDZ can can pressure SNP to release results and the may not have the "clock-weights" to do it.
With free carry, we are still in the catbird's seat. Unfortunately it will take more time to play out. IMO
Rapp,
You stated "I can not understand why the shareholders are now thinking about the future before the present is revealed. We waited years to get the drilling started, no sooner we start drilling some are thinking about selling before results. This does not make much sense to me. Why are some in such a rush to get rid of their shares before results, very perplexing."
This very board is the reason. People get caught up in the unsubstantiated rumors of big buyouts and huge amounts of oil that, as yet, have no basis in fact.
The board is biased towards this view. All of Mark's posts have been sticky notes and no one else has been able to even reach his sources.
The dilemma is this: This is a very good board for finding news about the company and the region without having to put forth quite an effort. I appreciate this since I also work 70 hours per week. The trick is sifting through it without getting caught up in instant gratification rumors and DOT connecting. These things are what cause the impatience IMO.
$3.67 buyout (board rumor) versus PN quoted as defending the drilling from what the papers say are marginal results. This creates impatience.
I have my patience back and several people on ignore to try to maintain it.
Krom.
With respect to Total, please keep in mind that Pioneer and Noble were game changers too. Then Addax and Sinopec were game changers. While I truly believe that Addax and Sinopec were indeed game changers in the JDZ, none of these companies have been game changers for the ERHE SP. Maybe Total will be a game changer, and maybe this is just part of their long term strategy for growth. They may not be in any hurry to get to production (see Chevron/Exxon for examples).
Total is just the newest thing for the board to stew over. Long term their interest is great. Short term, not sure it means anything for us. IMO
If you don't mind me asking, what was your board name before this one?
Thanks for trying!
I admit it. I got caught up in the hype. With drilling behind us it looked real for a while. I guess that is what happens when to pay too much attention to this board.
Opps I forgot the IMNSHO on the last message!
And I am still not selling. Not even the 3000 shares I bought at 69 cents in early March. So don't go calling me a basher.LOL
Prediction going into the stockholders meeting:
We will move sideways or slightly downward until next Thursday and then sell off to the low 50's or high 40's before the three day weekend. (everyone will be tired of hearing "wouldn't want to be out of this for the weekend" ) I know I have personally seen this message every holiday weekend since 2004.
The SP will continue sideways until a fortnight before the SH meeting. Then the rumor mill will kick in to hype the buyout/drilling results to be announced at the meeting. You must buy the stock by 4/13 to avoid mssing the wash cycle.
After the meeting, where no new info is provided, the rinse cycle will begin. You must sell by 3:00PM on the 26th to avoid being disgruntled by this cycle.
The vaccuum created will see the stock back to the high 30's before real news of the 2nd phase drilling is announced. No buyout, no phase 1 drilling results. All this can be confirmed with my trusted source just call 1-800-FANTOIL!
Disclaimer: unless Umbra predicts rich by Easter. The all bets are off! LOL Lighten up all you disgruntled longs! Laugh a little!
Sorry we missed you on the memo. If you contact Oily and Mark maybe you can catch the next ride up! LOL
What is that phrase about the wrath of a woman scorned? LOL
Looks like another opportunity to buy low coming. Just remember how stable the stock would be without all of the BS unrealistic expectations like 20 dollars a share or buyout coming.
The most concerning thing that I learned today is that messages on this board can materially affect the shareprice. Others have said that Mark's posts have not been able to raise the price and that there was always some other reason (tradeshows, eminent news, etc.)
Today the only thing that we learned of was Midtier's e-mail and that caused more than a 5% drop. With this knowledge, I trust all of the prophets even less. Week by week you could make a pretty steady income with the wash, rinse and reapeat cycle.
I don't recall you ever asking Mark for the same! I also don't recall you asking in the same manner.
Looked through your recent posts and don't find one to Mark saying Prove It!
I am a 6 year stock holder and I would have to call you a pumper with that estimate. Do you really think that this stock could be sold for more than twice the selling price of Addax Petroleum? I need your dealer's number! That is some quality sh?t your smokin!LOL
Most people are thinking 3-4 dollars per share if we sell before production. I would love to see 10 dollars, but I think that is way too optimistic.
Equator Exploration provides update on West Africa operations
Published Mar 8, 2010
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Equator Exploration Limited provides the following updates on its operational activities:
Exclusive Economic Zone ('EEZ') of São Tomé and Príncipe ('STP') Equator was invited by the government of STP, prior to the recently announced EEZ Licensing Round, to make its first choice of two blocks in the EEZ as per the Exploration and Production Option Agreement Equator has with the government. Following Equator exercising its option, Equator received from the government of STP a letter of allocation of the rights to two blocks in the EEZ. The government informed Equator that it will soon be able to begin negotiation of Production Sharing Contracts.
OPL 323 / OPL 321 The award of OPL 323 and OPL 321 to the Korean National Oil Corporation ('KNOC'), the operator, was voided by the Federal Government of Nigeria in January 2009. In August 2009, judgement was given in favour of KNOC in a lawsuit that they had brought against the government parties in the Federal High Court in Abuja. Although the government has appealed the judgement, we believe that the government and KNOC are in talks to resolve the situation. We await news of a resolution.
JDZ Bomu-1 Well Sinopec, the operator, is completing the technical evaluation of the Bomu-1 discovery. In mid-March, the Company and the other participants are required to commit to a second well or to drop the block.
Apologies if this has been posted before. Last paragraph is interesting.
www.scandoil.com/.../equator-exploration-provides-update-on-west-africa.shtml - Cached
Here Here! Puff!
I couldn't agree more. Since when did realism become bashing? There are far too many people here drinking their own bathwater when it comes to all the hype.
The price that Total will pay is just as important as their interest in the block.
Mid,
I don't claim to understand the oil industry well, but I don't think that is necessary in order to see that block 1 has much better synergies for Total than it does for Chevron. What all this has done for me is allowed me to adjust my expectations.
I think that Total's interest suggests commerciality, but the departure of some of the others suggests that there is an aggregate commerciality with both gas and oil when blocks are combined. I still have hopes for blocks 2 and 4 as individuals, but with the only published news suggesting more gas than oil, I think it is wise to temper my hopes with a dose of the potential reality.
The biggest question in my mind is how the stock price will respond to an aggregate commerciality. I have come to respect your opinion based on your posts and would like to hear what you think the SP would do in this case.