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Jake, been watching the sales closely this afternoon and noticing several 100 share buys at .72. Wondering if this is your mm advertising that he has shares to sell at that price. Would you mind sharing some particulars on your sales, like when you started, how it has transacted (size, time and price), etc.
Would possibly be very educational.
TIA, Magic
I understand that Jag, but hard to get the momo going when a quick glance at the profile looks like impending BK.
JMO, Magic
coydog, nsmg may work out for you, but just looking at the financials, it scares the heck out of me.
Good luck to ya, Magic
And here's what it was all about:
2:48:14 PM Trade 0.705 5000
2:48:12 PM Trade 0.7 157900
2:48:01 PM Trade 0.7 50000
2:48:00 PM Trade 0.705 25000
2:47:49 PM Trade 0.7 3000
2:47:31 PM Trade 0.705 50000
We can go back up now.
Magic
You'll never see a cleaner walk down than this:
Rec. Time Action Price Volume
2:46:12 PM Bid 0.7 2500
2:46:10 PM Trade 0.71 5000
2:45:58 PM Trade 0.705 20000
2:45:23 PM Bid 0.705 2500
2:45:19 PM Trade 0.71 5000
2:45:03 PM Bid 0.71 2500
2:45:03 PM Trade 0.715 4000
2:45:00 PM Trade 0.72 2100
2:44:40 PM Bid 0.715 2500
2:44:38 PM Trade 0.72 20000
2:44:27 PM Bid 0.72 2500
2:44:25 PM Trade 0.73 10000
2:44:25 PM Trade 0.73 5350
2:44:23 PM Trade 0.73 2500
2:44:11 PM Trade 0.73 5000
2:44:03 PM Trade 0.73 10000
2:43:48 PM Bid 0.73 2500
2:43:47 PM Trade 0.735 5700
2:43:44 PM Trade 0.735 2500
2:43:37 PM Trade 0.735 2500
2:43:36 PM Trade 0.735 2500
2:43:30 PM Trade 0.735 2500
2:43:14 PM Bid 0.735 2500
2:43:09 PM Trade 0.74 13500
2:42:55 PM Trade 0.74 2500
2:42:54 PM Trade 0.74 10000
2:42:37 PM Trade 0.74 5000
2:42:33 PM Bid 0.74 2500
2:42:29 PM Trade 0.745 16740
2:42:25 PM Trade 0.745 2500
2:42:19 PM Trade 0.745 2500
2:42:16 PM Trade 0.75 7500
2:42:05 PM Trade 0.745 2500
2:39:11 PM Trade 0.75 1990
It is nice to have all of those documents organized neatly in one place and in cronolgical order, particularly the PSC's as I had not read all of them before. In fact, I don't think I ever saw the ones with Devon and Pioneer that were later canceled. I saved the link, and think this would be a good place to direct newbies who ask for some background.
Magic
Don't sugar coat it Joe, tell us how you really feel!! LOL
Magic
Strass, I assume the bank you reference is First Atlantic, and according to the link you provided and other sources, they still own all of the shares they got from Offor, 60.4 million.
Magic
You are assuming premises not neccesarily correct.
Was I married to you once for a short time many years ago?
Magic
Gordon, I dare say that if you get a favorable ruling on your intervenor action, this board will gladly buy you all the hearing aids you could ever use, and likely send you in a limo to get them fitted!!!
Magic
John, I believe you're talking two different types of GPS processes. The dynamic positioning triangulates from three satellites to find out exactly where it is, so it can make adjustments to stay exactly where it wants to be. The AIS, as i understand it, is more like a Lojak for your car. It also triangulates to learn its location, but then transmits it up to a satellite to relay it to some central data center.
Magic
DG, your post is horrendously erroneous. There was NEVER any indictment of ERHE, only an affidavit for obtaining a search warrant that was sealed. I repeat, ERHE has never, ever been charged with any offense whatsoever. Period.
Magic
No, nothing. And I don't expect him to get much of a sentence either, probably a stiff fine that I doubt he can pay and a few years probation. Dut I have no source, just precedent.
Magic
Always watching, my friend. May have a couple of issues to consider adding to the watch list, as you probably expected. I always keep a few irons in other fires, tho ERHE is a huge portion of my holdings.
Magic
Gordon, have read your filing in its entirety, and I heartily commend you for both recognizing the issue and your excellent work in presenting it. Your citations of law and precedent make a very compelling argument. Thank you for your efforts on behalf of all of us.
Magic
Was this just a registration of shares so that they could perhaps be sold at a later date? Was there a 144 filed? Sorry I don't have time to look it up to get a definitive answer, just thought someone else may know already.
TIA, Magic
And what is it exactly that you want to have disclosed at this moment???
Sure, I'd like to have the exact date that the first two wells will be spudded, but I really doubt that ERHE mgt knows that with any certainty.
What else, speciffically, are you wanting disclosed right now that you are convinced they know and that would be material events??
Magic
My understanding is that the option agreement provides that we can exercise our two 100% choices from among ALL of the blocks in the EEZ. I don't see this as an issue for us yet.
Magic
My favorite new word: Obamageddon
Magic
Obamageddon !!! My word for the day.
Good to see the healthy rebound today.
Magic
ssc, it is in the psc terms. There is a link on the co website. The impending deadline is for one well in each block by the anniversary date of the psc, approximately next March.
Magic
Well, sorta true, sorta fiction:
http://www.snopes.com/history/american/pricepaid.asp
Troy, thanks for the info. I will be composing something more strongly worded and sending as well.
Magic
Strass, for once I can completely agree with everything in your post, every last word. And well stated I might add.
Magic
Forewarned is forearmed. Here's hoping SEO has been cozying up to Petrobras for a full carry deal, which could head off this "plan to mitigate".
Magic
This sounds like a lawsuit in the making to me:
"He says there's a "defined internal strategy" to "mitigate the effects" of ERHC EEZ rights that will be decided on by Govt after the presentation of bids. "
Magic
Avid is on that list also.
Meatloaf, would you please post this inof on the Mens Room board. It is a premium board so this tightwad cannot, but it is much needed there.
Thanks, Magic
LOook at the predrill estimates for AKPO, and the actual results.
Magic
"the market has been speaking loudly by taking ERHE's share price down by a huge percentage. "
Guess we have very different definitions of the word "HUGE"!!
Magic
pete, that "blockbuster developments" quote keeps popping up in the back of my mind as well. I also recall that, over the years, most of the surprises with this company have been very good ones, cept the raid, of course.
Magic
Strass, the final renegotiated ERHE rights agreement, back in 2003, I think, clearly stated ERHE's rights in both the JDZ and the EEZ. I believe it is still on the ERHE website. I don't recall the location of the EEL rights docs and don't have time or inclination to hunt for it. Maybe you could do that work yourself and report back.
GLTA, Magic
ssp119 is absolutely correct. I would bet your life on it.
Magic
Yikes!!! The kind of stuff nighmares are made of. I'm betting they get it worked out. Money talks, even in Libya.
Magic
It concerns me more than a little bit that STP may be using this oil law rewrite as part of a plan to try to shaft us and EEL on the preferred blocks. For example, they could offer us PSC terms that were totally unacceptable. When we refuse those terms, they say OK, and then enter into a negotiated deal with Petrobas, et al. Obviously this would result in a protacted World Court lawsuit, but we would get delayed as much as them. Don't think it will happen, but it could be part of the plan.
On the other hand, it could just be a mechanism to allow us and EEL to enter into some kind of carry agreement with Petrobas, et al, without having to have public bids to see who our partners would be.
Just wondering....
Magic
Wolfin, care to recommend any particular gold plays? I'm trying to figure out where to park my money when ERHE goes ballistic to the point that I have to take some off the table.
TIA, Magic
My purpose, aside from sharing my good fortune, was to show that at least some of the trades going thru at the bid were actually buys. The b/a was .55 x .555 when my buy @ .55 went thru. With your avowed decades of market experience and your frequent postings on this very topic, I would have thought that you, more than many others, would find this posting confirming your prior posts to be of interest. Apparently you feel that only what you have to say is actually important. May I suggest that you utilize the ignore button so we won't bother your train of thought in the future.
Magic
My order at .55 finally filled. I must be crazy. (Like a fox).
Magic