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good read and very disturbing!
If I remember right SEO did contribute some trucks and school equiptment a few years back for goodwill.
If the EEL report is factual then I wonder why they need the extra 6 months extension? They have A LOT more oil and gas there that certainly should be commercial then was originally projected by NSAI. Plus 8 more prospects. And that is only in Block 2! Maybe they are trying to get approval from the Chinese Govt to pay out the big bucks for our blocks (hopefully only blocks 2-4). $10 or more a share for the three blocks would be nice but I would want to see the actual results first before selling. I believe the three blocks contain many billions bbls of oil and trillions of cf of gas which would make us a major player and could be worth much more than the $10 share.
edit: by the way it looks like the market (flippers) are not going to let us go up again today. Looks like they put in sell orders to fend off a run.
I'd let them stay for $30 a share or better! LOL But that's just me.
That's right. Obviously, SEO does not have a problem letting CEO's go (Memon,Luka,WB) all in the last five years. He must really like PN. I think PN is just a puppet that is on a very tight set of strings. He is told what to do and when and with whom. We just have to watch and wait to see how the show plays out. No other choice except to sell. I am not willing to concede defeat yet. These delays are really tough to endure but we have been there before and are still here. Good things come to those that wait.
care to expound on this one some more?
4. My DD has meetings that have taken place involving forward motion with the JDZ.
to read between the lines is akin to assuming and you know what that means. I do read your material as you do present a lot of thought provocation but you have been on this deal thing for over 5 years and nothing yet. Bovells's mention of over $10 would be great but do you honestly see the Chinese paying that kind of money for us right now? I don't and that is my opinion.
Nah, Total is just buying the acreage because the crabs there are extra large and tasty! Put them with the snails for dinner and voila!
Balance, your continual harping of the company being sold is getting old. There is no indication whatsoever from the company that it is in discussions etc. None. Yes, they did say they would take a look at anything that may come around but they have not notified us of their intent to negotiate a sale of all or part of the company. They have done just the opposite. They are planning on expanding the company's assets and look to list on the AIM. What part of that do you not get? Sure every major oil company in the world would like to have our assets. Does not mean we are willing to sell them yet. We don't even know what we have so how can you put a value on us? We have a full carry at no cost so why give that up for a few dollars a share? I am just a frustrated as everyone else here that we have not gotten the information we have long awaited. Maybe the other minority players in the blocks will get bought out but they do not have our monster percentages either. WE ARE A MAJOR PLAYER in the JDZ/EEZ and will not be sold cheaply just because someone wants what we have. They would have to pay dearly which I don't see happening until the results are known. Then they only have results on three blocks out of 10. So relax a move on to another topic.
411,000 shares on the short list earlier. Wonder where it is now? Never fails when we get up someone posts some old article or something negative and we take a big dump. I find it hard to believe someone would sell out at this late juncture. This is manipulation. Period.
Now that explains our drop! Oily pumping makes the suction even stronger!
man you start talking dusters and the sp drops a nickle. Thanks alot.
Exceo, if you play golf (or if you don't, try it anyway) go get you some real cheap water balls, write ERHE on each one, go to a driving range, then place the ball with the logo facing the clubhead then just do as John Daly does and grip it and rip it! Does wonders for getting rid of stress. Also, the ball retriever will get the balls and wonder what ERHE is and look into it. After hitting all the balls head straight to a massage therapist to ease any muscle pains you may have picked up in your zealous excitement of getting even. Or you can have your lovely wife do the massage. Even better! Then have a nice glass of wine and watch the sunset with your wife and all will feel better. If that doesn't work, get a remote control mouse and make it run thru the house. The cats will go crazy and you will have fun watching them and forget about this stock! A little laughing will help soothe the frustration. Hopefully long enough for this rocket to finally ignite. IMHO of course. S2R
They can have 9% of the JDZ for $4.5 Billion and I wouldn't complain! To buy the whole company for $4.5 B I would complain!
I wonder what is more expensive to extract and refine, oil sands in Canada or JDZ deepwater wells with light sweet oil?
It is the traders here that beat it down with lowball orders. I wish they would leave us alone!
Orangedad, our prayers are with you. May you have a rapid and complete recovery. Mark, just hang in there and give your dad all the support he needs. We have your back!
S2R and family.
All I remember is Caveat Emptor! LOL
At least yours is in real latin. Oily's is in pig-latin! LOL
I hope it was enough to pay for all those BOD's etc that we paid for them to be at that last Energy Conference! Another good question would be what API did the oil have? LOL
If I remember right I think Dan K said something about having to send out 60,000 proxies just recently.
Here is his reply:
Michael:
I believe we are planning to make the audio available on the Web and for those who dial in on the phone. I expect that we’ll release information on how to access it in the next week or so.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.theprcounselor-blog.com
I sent a request to the home office to see if they can put the sh meeting on a conference call as well for those of us that cannot attend. Will let you know his response.
He's a lawyer. The only way you will get him to talk is to put him in front of a jury and then he would probably not shut up! This is just a part-time job for him.
I thought our two 100% blocks were sig bonus free and the two 15% blocks we had to pay the sig bonus etc.
edit: never mind. It says exploration costs and production costs. Misread it. I doubt we end up having to pay either unless the money coming in from the JDZ is so great we can afford to drill them ourselves! LOL Remember PN said we will not be an E&P company. Just a holding company. Bet we sell a good portion of the EEZ blocks for huge sums of money so we can buy producing fields elsewhere.
most likely flippers selling into a perceived run possiblity. Same as happens here. Stop the run before it happens.
Yes, it is out of whack. I think we should be way higher than we are currently. This drifting down is ridiculous. All we need is confirmation of what we have and for management to move us to a better board. Therein lies the crux of the problem. Obviously, management is not concerned about the sp currently. Sure wish they would keep us updated on the movements toward the AIM if they can't tell us what the drilling results are yet.
excellent! Some day we will get our rewards.
I did not get that far. Nice find! Sure looks better than the NSAI report. And those figures are lowball estimates as well.
My Bad. Page 31 chart shows Kina 250 mmbl
I think it is in PDF or Adobe format which you cannot cut and paste from. On page 29 it has Kina prospect at 250 MMbl.
One only has to look again at the prospects chart to see what we can potentially have:
http://www.erhc.com/joint-development-zone-prospects/.
If they end up saying there is 10 billion barrels across the three blocks and we have 20% and if oil is at $85 barrel then 2 billion x $85/721 million shares comes out to $233 per share! Not a big stretch if you look at the amount of prospects in our blocks. That is the pot of gold at the end of the rainbow for us. I know someone will say we could have a lot less but you really have to look realistically at the chart. Don't forget the river of oil also! LOL All in JMHO of course. My dream so don't bust it! LOL Don't forget we also have seven more blocks not drilled yet!
DeGen, I think the company has put the acquisitions on a holding pattern pending the drilling results. They need them more than we do if they are to have a true value of the company. They will probably use the reserve estimates to secure loans to get the good properties they need. Then after securing the services company etc they can leverage them to get onto the AIM etc. Everything revolves around getting the results of the drilling. The better the results the better the acquisitions they can get.
Well think about this: Do you think the Arabs would be investing $5 billion in infrastructure in STP with an airport, roads, deep water port etc. if their is only the NSAI numbers of oil there? Plus Total is getting in the picture now they have an FPSO just 15 miles away. I think we are starting to see under the umbrella of the consortium. Look for BIGGGGG numbers to eventually come out on this thing. The original 14 billion barrel estimate could be a lowball figure. I think the wait will be worth it if we can continue to hold. Too many leaks coming out that lately that look toward our elephant fields becoming closer to commerciality.
I think if SEO did state his intentions publicly it would drastically change the trading of the stock and could be construed by the SEC as stock manipulation. Even if FAB stated their long term goals they could be accused of manipulation. Privately, it would be fantastic.
We will hence forth dub it the Vapor Ring! and it is a shimmery golden color that enchants you with visions of success in achieving the goals you desire while constantly maintaining a distance that stays just out of reach. All we need is the breath of life from our tormentor (SNP) to blow the ring into our quaking hands! LOL
You are not factoring in the cost of drilling, production etc. ERHE did not have the money to pay their part so the $18 million in cash, full carry, and retaining of 19.5% was a great deal! The only boondoggle was when Addax sold to SNP which was not forseen. Lesson learned I hope. Maybe for future PSC's they will find a way to be able to get around the drilling results announcement which strangles the companies abilities to secure credit etc for future acquisitions.
$5 Billion? Wow. They could make an oil mecca resort with that kind of money. Wonder where they would push the islanders to so they can get them out of the way? If it gives the islanders good jobs then it will be fantastic for STP. Just having clean water to drink and electricity in every house would be a whole new way of living for them. Hope the deal goes thru for their sake.
I did not say to vote no. I said it would not do any good as the vote has already been decided by SEO.
The proxies being sent are just a formality to satisfy the SEC. The vote is already passed if SEO has signed off. The rest of us are just wasting time in signing and mailing back. Same as in past shareholder meetings. As long as SEO has the 43% and FAB has their 6-8% then our votes mean nothing unless we are bringing a minority shareholder lawsuit against them. Best to just save the money on the mailings and let it pass. You can vote if you want just to make yourself feel good but the result will remain the same. Those going to the SH meeting to Huff and Puff will be shunned as always. They will not give out anymore information than is on the proxie. Period. You can go for the social event as that is always fun. Pretty expensive just to hoist a few brews and compare the pains you have endured over the years.