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I thought at first sight this was a good play, lots of oil under that water, I am buying small gas oil plays , but when you peek inside EHRE u find many bigtime issues that are not easy to overcome, it will take YEARS......
This contradicts what u r saying>??? I find this worrysome and I found this all over the web > Here are the FACTS>
The search was conducted pursuant to criminal violations of the Foreign Corrupt Practice Act and various other statutes related to business and wire fraud, the search documents say.
Try a simple google search > The DD into ERHE is easy to find - it is no agenda - these are the FACTS ERHC Energy faces right now
Google search>
http://www.google.com/search?q=ERHC+ENERGY+INVESTIGATIONS&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1
This Blog lays it out very clearly >
http://erhc.blogspot.com/2006/06/facts-emerge-about-erhc-energy.html
Facts Emerge About ERHC Energy Investigation; No Jefferson Link Seen
First the good news: Ken Silverstein is wrong. The FBI investigation of ERHC Energy has nothing to do with Rep. William Jefferson. But it has to do with the heads of state of Nigeria and Sao Tome, and much, much more.
That's the key conclusion we reached from a partial review of an 83 pages of documents - including a six-page list of items sought by the government, and a 13-page list of items seized compiled by ERHC, and several ERHC affadavits - filed in Federal District court in Houston that describes the FBI's all-day search on March 4, 2006.
Acting on a sealed affidavit from FBI Special Agent Dana Griffin and a search warrant signed by a Texas magistrate, early on Thursday morning, March 4, 2006, 15 or more armed FBI agents led by Special Agent Robert Wolosyzn and "armed with guns and wearing bulletproof vests" entered ERHC's offices at 5444 Westheimer Blvd. in Houston. Receptionist Jane Barker immediately got on the phone to Breward & Pritchard, the company's attorneys, and lawyers Alison Baker and John Clay arrived "at or slightly before 9 a.m." to find ERHC Energy President Walter Brandhuber leaving the conference room in the company of U.S. Attorney Mary Kit Dimke.
The two lawyers were told to sit in a corner of the office after Clay advised Dimke that he was advising his clients not to speak to her or the agents without counsel present. Until after 6 p.m. that night, they watched as agents carted some 118 boxes of evidence away.
The search was conducted pursuant to criminal violations of the Foreign Corrupt Practice Act and various other statutes related to business and wire fraud, the search documents say. ERHC has asked that the government's review of the documents be enjoined and that all be returned, and the government offered to let a "taint team" of prosecutors determine what was attorney-client privileged information, an ofer the company rejected. Now, the government has "broken off negotiations" about the documents, the lawyers say.
Here is ERHC Energy attorney C. Alison Baker's description of the search:
"Over the course of an entire business day, agents conducted a wholesale vacuuming of vitually all original files contained in ERHC's office (over 118 boxes worth of documents), as well as a complete and total electronic "imaging" of all ERHC computer hard drives and computer data including all ERHC email communications."
Included in the documents seized were shareholder lists from 1997-2000 and a Dec. 7, 2004 shareholder list, along with a disc taken from the company's safe filled with seismic data from Blocks 1 - 9, many other discs, and images of all the computer hard drives in the office and on a Sony Vaio laptop.
In a six-page list of everything the FBI and Dept. of Justice hoped to find, there were some interesting names - an in a folder that was seized were even more, including that of Phil Nugent and another entitled "Life Energy & Tech Holding, Inc.," that company that would eventually become Global Environmental Energy Resources (GEECF) and which may figure in campaign contributions totaling $4,500 Silverstein said were made by former ERHC executive Noreen Wilson to Rep. Jefferson.
But neither the government search list nor the ERHC complaint filed in response on June 5 mentioned Wilson or Jefferson, lending a substantial foundation for counterclaims against Ken Silverstein's Harper's articles claiming Jefferson's dealings with ERHC Energy, if any, were implicated in the May 4 search.
But key names on the government's search list are compelling.
The list includes a request for any correspondence Nigerian President Olusegan Obasanjo, Alhaji Atiku Abubakar, Sao Tome and Principe President Fradique de Menezes, former Sao Tome President Miquel Trovoada and his son Patrice, Sao Tome energy officials Joaquim Rafael Branco and Gabriel Arcanjo Ferreira Da Costa, JDA chief Carlos Braganca Gomes, and former Sao Tome foreign minister Mateus "Nando" Meira Rita, and a First Atlantic Bank director who was also a competing bidder for Joint Development Zone blocks, Emmanue Efoby, the head of Foby Engineering.
Notably, Jefferson and Wilson are absent from the government's wish list, and so is GEEC.
Documents related to Frontier Technology Ltd., Texas, "care of Phil Nugent, 5619 Innsbruck, Belair, Texas were sought were sought by the Feds, though.
The search list sought evidence concerning "things of value" given to Nigerian and Sao Tome officials, owners of ERHC stock from 1997 to the present, all records of stock transfers, and documents concerning oil negotiations between ERHC, Chrome Energy, STP Energy Corp., Procura Financial Consultants and both countries, along with expense and travel records, were sought.
The search also sought information concerning ERHC's dealings with a number of "marketing" companies in Miami, Mauritius, Belize and London, including Capital Management Group in Miami, Commodore Marketing Assn., Derby Development Ltd. and Supreme Marketing (all three companies are headquartered on the seventh floor of the Happy World House in Mauritius), and Conquest Consultants and Falcon Commercial Investments in Belize. Lyndhurst Holdings Ltd. in London's St. Johns Wood was also on the FBI's search list.
Also on both lists were requests for and folders of correspondence about due diligence issues with Pioneer Resources, including a letter from ERHC's file drawer No. 4 marked "Personal and Confidential" and refwerencing the JDZ and and a Justice Dept. advisory opinion. The implication arising - since the statutes under which the materials sought include the FCPA from that document is that Pioneer may face an issue concerning as to whether or not it adequately disclosed to the government, as required under the FCPA, information about any suspect payments it may have learned of during its due dilgence process. Pioneer eventually withdrew from its partnership with ERHC. Its shares were up 11 percent, or $4.69, on Friday.
The documents seized included several folders concerning a possible move by the company to the American Stock Exchnage, something many investors have long hoped for.
Among the items seized were one concerning Amerada Hess, which ERHC On The Move believed at one time was a potential partner, and a letter from Anadarko, along with folders for Devon Energy, Noble Energy and Anadarko Petroleum Corp. Two other Sao Tome officials, Hassan Tukur and Hashim Tumsa, were also named on the search list.
The two lawyers went downstairs after talking with Dimke and Brabndhuber and an affadavit by one of them says they "crossed elevators" with the company's newly-appointed accountant and CFO and then rushed back uypstairs to advise him not to speak with the government people. Dimke later wrote the two lawyers saying they had committed "obstruction of justice" in telling both Brandhuber and the CFO not to talk with her.
Th impact of the search, the lawyers stated in the motion, has been great. The government's blanket refusal to allow its lawyers o review the cocuments "has left the company completely in the dark as to the factual basis for an apparent Dept. of Justice investigation that has left the company subject to an uncononsented search and without any of its business records" and "unable to function in a normal manner."
That's certainly consistent with our share price, which is now at $0.42, up $0.019 for the day on volume of 1,077,314 shares.
Just the Facts my friend > ERHC Energy Update on Investigation Into Activities in Joint Development Zone
Market Wire, June, 2006
E-mail Print Link ERHC Energy Inc. (OTCBB: ERHE) continues to work with the U.S. Department of Justice in connection with the Department's investigation into questions surrounding the Company's activities in the Joint Development Zone (JDZ). The JDZ rests approximately 200 kilometers off of the coastline of Nigeria and the island nation of Sao Tome & Principe, and is adjacent to areas where there have been several large petroleum discoveries.
Recently, the Department of Justice agreed to return to ERHC a complete copy set of all paper documents seized in the Government's May 4, 2006 search of the ERHC's Houston office. ERHC has already received a substantial portion of these business documents and expects to receive the remaining copies shortly.
Related Results
ERHC Energy Inc. Reports First Quarter 2008 Financial Results
The Company has retained the nationally recognized law firm, Akin Gump Strauss Hauer & Feld LLP, to assist it in connection with the Justice Department's investigation. Akin Gump also will assist the Company respond to a related U.S. Securities and Exchange Commission (SEC) subpoena issued on May 9, 2006. ERHC intends to comply fully with the SEC subpoena.
Akin Gump has filed suit in federal district court in Texas on behalf of ERHC. The lawsuit seeks to protect the Company's attorney-client privileged documents and to allow ERHC counsel to determine the factual basis for the Justice Department's search warrant affidavit, which is currently under seal.
ERHC continues to pursue its business plan and the opportunity to develop its rights in the JDZ.
"We are working to minimize potential distractions and focus on commercializing the Company's interests in the JDZ," said Chief Executive Officer Walter Brandhuber.
Earlier this year, the company announced that a subsidiary had entered into production sharing contracts in Blocks Two, Three and Four of the JDZ.
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its shareholders, investors, and employees; sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production.
http://findarticles.com/p/articles/mi_pwwi/is_200606/ai_n16510199
Do you see what is going on in our economy? The days of easy credit and money flow are over for now and maybe for long time coming , coupled with $4++ gas this line of business is doomed IMO , sure maybe couple one offs but no way they make and sell 10 cars a year , no way not in todays world - NO WAY not in todays enviroment.... That is IMO of the FACTS
FYI > Look at the share price - it is following perfectly with the decline of this industry, now can THEY make money with small shop doing custom work and few one off machines, sure they can, but can it support a couple hundred million shares, not a chance IMO
I dont agree, I first saw the 14billion barrels myself and thought WOW , this looks great , then with very little, VERY little DD you find major investigations by the SEC, DOJ and the senate homeland security, not good picture, no closure on these still OPEN ongoing investigations , that past is why this stock is .50 and not 5.00 , dont fool yourself. I didnt look far to find it that is for sure.....
u almost had it right "People Dont Buy Muscle Cars" it is a super small SUPER small part of the industry and getting MUCH smaller everyday - These are not 68 camaros - PLUS NO WAY NO HOW is GM going to be branding another gas guzzling machine they cant sell that much is for sure IMO
These gas wells are only averaging about 51mcf per day TOTAL and VYEY only has at MOST a 15-25% working interest of this total, they are small wells and droping fast. Here is some info from the GFCI board, Been Burned Before, he has these wells "Dial'd" in (tic)
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=44953
Here are the April 08 production totals for the 10 wells.
Month / total gas for month / average mcf per day for month
Monthly Production for Adams "127" Well 12
Apr-08 / 1,856 / 61.9 mcf per day
Monthly Production for Adams "127" Well 11
Apr-08 / 1,776 / 59.2 mcfpd
Monthly Production for Adams "127" Well 13
Apr-08 / 1982 / 66.1 mcfpd
Monthly Production for Adams "127" Well 14
Apr-08 / 1,891 / 63.0 mcfpd
Monthly Production for Adams "127" Well 15
Apr-08 / 1,951 / 65.0 mcfpd
Monthly Production for Adams "155" Well 2
Apr-08 / 1,299 / 43.3 mcfpd
Monthly Production for Adams "155" Well 3
Apr-08 / 749 / 25.0 mcfpd
Monthly Production for Adams "166" Well 4
Apr-08 / 1,254 / 41.8 mcfpd
Monthly Production for Adams "166" Well 5
Apr-08 / 1,206 / 40.2 mcfpd
Monthly Production for Adams "166" Well 6
Apr-08 / 1,541 / 51.4 mcfpd
Monthly Production for Adams "127" and "155" and "166" Wells (10 Wells Combined)
Apr-08 / 15,505 / 500.2 mcf per day for ALL 10 WELLS COMBINED
Folow link for more info, BBB does have these wells dialed in, he has the total payouts calculated. Please remember VYEY only has at most a 15-25% "working interest" , these totals above represent 100% of production for the 10 wells listed, no wonder VYEY share price has tanked so badly, these wells are super small, and dropping production fast.
http://ragingbull.quote.com/mboard/boards.cgi?board=GFCI&read=44953
so this info is just message board BS? Post the number - I sure would love to talk to this dealer and get some prices and info on this machine - IMO last thing GM wants to get involved with is a gas guzzling overpriced muscle car - i.e. Hummer they are trying to dump as we post.
Low 0.0007 High 0.0011 Last Price 0.0009 Volume 16.51 m
well said.eom
POST THE PHONE NUMBER - I WANT SOME INFO AND TO GET PRICE ON ONE!
yeah right - GM is trying to DUMP Hummer Gas guzzlers and they are going to market and brand a 500hp double gas guzzling machine - be real - these cars are one off models - selling very very few - gas is going to $8 gallon - hybrids and 50mpg are the future not these 500hp machines - AND for sure not with GM...... IMO
LOL - they shipped units to the UK for test and then shipped them BACK! U may be right but man o man if u r going to get some units in production to show off to potential customers to prove it does work wouldnt u rather got to IA then the UK? They need to prove these things work - IA is prime setup , they would get awesome press, ride in as the white knights and save the drinking water....
Board has been slow as of late>? I took a position in NXG today at 2.85 > I like the future earnings potential , low PE and the copper trade..... Copper is oversold IMO
Your question is very valid , and correct no one will answer because it cant be answered w/o leaving ecci open to the obvious problems the question brings up, if it can clean storm water, hurricane, oil gas wastewater then why isnt it in play in the floods? IMO it is clear > The failed UK test answered the question, the tech is not ready for prime time, it does not work as advertised, and maybe never will be maybe , if it did work dont you think ecci would have a few units on contract making monthly revenues in the UK? - dont you think that is obvious?
Also be clear > this is a pinksheet stock , the HOT sector is gas and oil , they can DUMP way many more shares by pumping it as oil gas sector play, now if we get a few good storms rolling by they will switch gears , place another chunk of stock and pump dump away as hurricane play - IMPO of course.
IMPO
After Hours: $ 0.0009 -0.0002 (-18.18%) Volume: 3.45 m
so What u r saying is > no disclosure sorry about your luck invesotrs, we, ECCI, will not EVER disclose the failure of the UK project???
u said read the filings for the info on the UK project , please show me the filing that has the info on the UK project is all I asked>?????
Please show me > Here is link to ALL ECCI filings - and I must admit - WHAT A MESS this is - wow - I had no clue they had all thse SEC accounting issues - I need to read thru these over next few days - I do NOT see a Q or K filed for sometime - I DO see a securities registration termination and a bunch of SEC uploads, never good for sure - Please show me were this news on the UK project lives in this mess of filings >
http://www.sec.gov/cgi-bin/browse-edgar?company=EcoloClean&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
Question> What happened to the UK test?
So they shipped units to UK, They sent over techs to setup and get units going , what ever happened? Now I see some posts they shipped the units back here - NO contract - NO revenues? Whaty\ happened with the UK test?
IMPO it was a MAJOR failure - thus > NO contract - NO revenues - Shipped units back to USA and lost a bundle - IMPO -
Can anyone disprove this or share with the board what really happened with the UK test???
bingo.eom
LOL could u be a more obvious paid tout?
Alias Born On: Tuesday, June 10, 2008
Boards Moderated: 0
Total Posts: 3 (all 3 on dlav)
Was in the most recent filing, oil and gas is hot hot hot , this stock pps is soft and going down? Something is up? IMPO one of these investigations may be about to make some noise , you know it can take years for these things to flow thru , years...... Then blamo feds bring down the hammer......
Share price is very soft recently? Maybe soemthing is up with all these investigations? I have never seen a stock with this many open investigations, by so many different agencies and not be shut down yet. I guess "yet" is the issue???
I was shocked when I read the filing , I am sure you all have read it over and over, but I am still amazed this company has not tried to sell or spin off all the assets to a new entity and closed down, sure looks like the federal government , SEC, DOJ are not pleased with the way ERHC Energy does business??
http://ih.advfn.com/p.php?pid=nmona&cb=1210457105&article=26239486&symbol=NB%5EERHE
We are under investigation by the SEC, the DOJ and a U.S.
Senate Subcommittee, and the results of these investigations could have a material adverse effect on our business, prospects, operations, financial condition and cash flow.
The investigations by the DOJ, SEC and Senate Subcommittee are continuing. We anticipate that these investigations will be lengthy and do not expect these investigations to be concluded in the immediate future. If violations are found, we may be subject to criminal, civil and/or administrative sanctions, including substantial fines, and the resolution or disposition of these matters could have a material adverse effect on our business, prospects, operations, financial condition and cash flow.
These investigations could also result in:
· third party claims against us, which may include claims for special, indirect, derivative or consequential damages;
· damage to our business, operations and reputation;
· loss of, or adverse effect on, cash flow, assets, goodwill, operations and financial condition, business, prospects, profits or business value;
· adverse consequences on our ability to obtain or continue financing for current or future projects; and/or
· claims by directors, officers, employees, affiliates, advisors, attorneys, agents, debt holders or other interest holders or constituents of ERHC.
Continuing negative publicity arising out of these investigations could also adversely affect our business and prospects in the commercial marketplace. In addition, these investigations have resulted in increased expenses to ERHC, including substantial legal fees and the diversion of management’s attention from our operations and other activities. If we incur costs or losses as a result of these matters, we may not have the liquidity or funds to address those costs or losses, in which case such costs or losses could have a material adverse effect on our business, prospects, operations, financial condition and cash flow.
I can usually see manipulation?.eom
Not sure what u r looking for? Maybe ask some others on the board , I can only see some well orchestrated manipulation going on........
again> Posted by: printmail01 Date: Sunday, June 08, 2008 5:38:00 PM
In reply to: NYPDBLUE who wrote msg# 5420 Post # of 5453
I dont recall saying the PPS was not going to go up or down becuase of a hurricane or lack of one? IMPO we have a orchestrated pump dump going on. The price can will and SHOULD swing both ways , sure it will rise, sure it will fall, does not change fact that IMPO this stock is being manuipulated.
I dont know what u are saying but I am NOT trading ECCI back n forth. That is not IMO - That is FACT.....
Undisclosed 504 offering
Regsho list - fails to deliver
Price is falling.....
PLEASE dont tell me you have not seen this pattern before>?
Private nondisclosed offering then show up on regsho fail to deliver. To funny........
After Hours: $ 0.001 -0.0001 (-9.09%) Volume: 1.51 m 4:05 PM EDT Jun 9, 2008
Looks like .0009 is very close>?
What happened in the UK? Never saw any conclusion? I cant find anything more then the PR hype going into UK , then nothing - what is the deal with UK? Did the equipment work or not?
I dont recall saying the PPS was not going to go up or down becuase of a hurricane or lack of one? IMPO we have a orchestrated pump dump going on. The price can will and SHOULD swing both ways , sure it will rise, sure it will fall, does not change fact that IMPO this stock is being manuipulated.
VERY balanced post mustang , I tend to believe somethin is amiss with the technology....
Why:
NO Updates or contract in the UK > What happened?
Why no pilot with Devon enrgy>? They are clearly looking for this type of technology.... and in ecci backyard...
I would think ECCI is or will at least announce the facts about a pilot with someone soon , then we will see does it pan out like the UK pilot did (nothing) or does it go to production and more pilots etc.....
tmcc??? HOW can you say ESPH has "lack of funds" ?
May 21, 2008
Ecosphere Technologies Signs $50 Million Purchase Option With Bledsoe Capital
Apr 25, 2008
Bledsoe Capital Group Signs Letter of Intent to Invest $10 Million in Ecosphere Technologies
The board was posting ECCI was working with Devon energy? Now we see that this was not the case , if Devon is testing, doing pilot tests dont you think they would contract with a company that they feel could actually provide or have good chance at providing the level of service they are expecting? Why has Devon not contracted a pilot with ECCI? If the tech is better and cheaper as you say, then why no ECCI pilot with Devon, WHY DID DEVON choce ESPH over ECCI>??? Why not test them both ? Until we see a verifiable pilot with a named company IMO we only have Pinksheet PR - Now not saying it will never happen for ECCI but for now it is NOT HAPPENING with Devon as some here had posted.
I think we already saw the DUMP, it goes pump then dump , this one has blown its wad , they sold it down so hard scared everyone away , not very smart insiders, should be pump, small dumps, pump small dumps, these guys pumped and then DUMPED BIGTIME and crushed PPS , greedy IMPO..... but in the end - it is just a PUMP DUMP and the market is smarter then some of these OTC insiders think , fool me once........
if 1% were true - good post.eom
If the ECCI technology is superior, cheaper as you say - then why NO SALES, NO CONTRACTS? If a competitor has inferior product that costs more money and they are getting orders and contracts, what does that say about ECCI>? What is WRONG WITH ECCI?........
How about letting us know when ECCI discloses the share structure and terms of the recent offering, that would be a good start IMO
u r joking right? (tic) ?
$1MILLION DOLLARS / $.009 share = 1,111,111,111 SHARES
IMO The placement was most likely for under market price, most likely also had warrants, AND registration rights, but this is all IMO - ECCI has chosen to HIDE the transaction details. It could be MUCH lower then .0009 per share..... We do know ECCI has NOT disclosed the Facts to investors, if the terms were favorable and above market IMO they would have disclosed details of the offering.... IMPO