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Has Shea been shut down? LOL!
Great find sideeki! The search warrant has NOTHING to do with ERHC Energy. Thanks.
Thos sales this AM are likely people....
who don't follow closely and found the 8-K after the close Friday.
Being this is a BB issue those that "don't follow closely" are very few... hence the low volume and quick bounce-back we are already enjoying.
"To what extent do you believe XOM/CVX is stonewalling"
Zero percent, none, nada, zip, zilch.
What they found with obo-1 is so big they can't answer the question until more wells are completed.
ERHE's first oil will come from one of it's partners poking a hole, IMO.
re: ATTENTION JOE SHEA...
Yep, I was right. The stupid lying weasel sold and now he's got to turn negative to try to knock it below is sale price.
That is GREAT news! Ever since I've been here when Joe bashes, especially with lies, ERHE invariably goes up!
Keep the day job Joe. Yo0u certainly don't have the stomach for this stock!
Exactly just WHAT kind of reporter is..
Joe Shea??? His updated site only mentions the payment of the signing bonuses today. Good god, a 8-K stating a search warrant was served and that's not news?
I hope you catch the sarcasm in the above. I'm betting a good part of this morning's selling was Shea dumping a formidable position he built up before his "Doc" started calling for $8-9 buy-in.
The vast majority of the selling was about 2M shares. Don't know if he has the means to build up that many shares, but I guarantee he loaded big before pumping $8-9 buy-in.
The way he paniced when the PSC signing was delayed a week I would have LOVED to see his face when that 8-K hit! LOL!
Rambus, that's how PROFESSIONAL companies act...
ERHE? They get served a warrant, the share price dives 20%, then mostly recovers, and may well close green... and you can BET they won't say a darn thing.
That's gotta change before they go drilling.
dig, why would Sinopec try to "Crush us"...
I know you said "Big Oil", but I don't think XOM or CVX can touch us because the JDA won't let them takeover the percentages. The JDA wanted to award to ERHE, period.
The big boys didn't want to be minor percentages anyway.
So that leaves Sinopec squashing us. That doesn't change the consortium in a way that would upset the JDA. I don't see that happening. ERHE brought Sinopec in. They are grateful, if anything.
This is just a slow U.S. beauracracy dealing last years bally-who.
Joe didn't report this because he need to put his sell orders in. Who do you think sold in the 60's? LOL!
Once he's out he'll be screaming 30's.
Too funny!
Brandhuber's a lawyer. SEO has 310M shares on the line.
Does anyone *really* think this is anything more than Big Oil throwing a tantrum? They know they can't go after Sinopec, so they take their frustration out on the little guy.
It happens all the time.
LOL@Chill'n no Shill
I know 1+1=7 all the time in OTC-land. When things don't add up it's better to bring it on rather than ride it down.
Questions demand answers. If questions go unanswered then there's a problem. I've tried multiple channels to ask questions from ERHC. I can tell you I have gotten nothing to show for it.
How hard is it to answer an email? I do it 100 times a day without getting paid. Isn't "Jane" his secretary? So I'm not even bothering "the man".
But still no response.
Art, any idea what email addy he used?
I've sent email to Brandhuber AND the "contact us" link on their web page and have yet to see a reply.
There's no other way to put it, *GAME ON*
Meridian joined Jan 17th, 2006
Miamidrift joined Feb 24th, 2006
Miamidrift's 2nd post was "Meridian, you've got mail"
I've reviewed every post Meridian made since joining through Miamidrift's post on the 24th, he never posted his email addy.
Conclusion:
Miamidrift knows Meridian and they are working together
OR
Miamidrift lied and posted like he knew Meridian's email to gain whatever credibility he could.
So they are working together or someone is lying, pick one.
LOL@Miamidrift, I guess I'm seeing shadows again...
You "have held this stock for years and watched the bottom drop out several times".
And
You "watch this board like a hawk"
Those quoted words are yours... yet you joined Feb 24, 2006.
So you held a OTC stock and watched the bottom fall out "several times" and only found this board 35 or so days ago?
Wow. You don't get out much!
And yes Meridian, sometimes those shadows in ones mind are real.
Well, that was my last post (I really need to pay these guys!)
Can you imagine the fiasco this place would be if everyone was a paid member? Oh yeah, that's called RagingBull.
miami, can YOU verify Sinopec is not buying, I sure can't.
Can YOU verify the straddle is a 50/50 split, I sure can't. In fact I can't verify a straddle even exists.
So just how are those latest opinions "verifiable"?
They aren't
BB, how DARE you post something that positive!
Surely you'll be "laughed at". Let them laugh, as we will all the way to the bank.
ftc, gimme a break, I stand corrected but I didn't reply earlier because I was conserving posts. You give me no choice. I will not accept having my character assassinated over a misunderstanding.
Fact: Meridian went from saying something to the effect of: "You know not what you own" to saying ERHE is worth $2-3 in 3 years.
Fact: EUR is the defacto global standard acronym for Euro. I apologize for interpreting what you imply is a obscure oil industry acronym when the same acronym has global meaning.
It very well could be a misunderstanding. It just as well could've been intentional, given M's shift to the dark side.
ROTFL@Meridian!!!
"no doubt they made a huge EUR 1B+ discovery"
By throwing a EUR in front of the 1B he is implying the find is 1B Euros. He has lowered obo-1 to a 14M barrel find, insignificant!
You're good M, but we're not THAT stupid!
tuneman, I totally agree, the lack of denial of the NPR report of 1+ bbbl stands out huge!
It's down there, and everyone that has seen the seismic knows it's everywhere!
Double post required, I'm gonna hit my limit soon!
P.S. Manti, thank you for that clarification, it really helped. Y'all have been on quite a journey over the past couple years!
Manti, I don't understand...
Didn't we just get a news release from the JDA that said $145M has been paid to them? Isn't the JDA made up of Nigerian/Sao Tomean entities? Doesn't the JDA distribute the monies recieved, less expenses, using the 60/40 split?
I'll admit, I've only been around since February and don't know. In my mind the $145 that just got announced as paid should have put $58M into Soa Tome's pocket.
If you have the time to clarify this, I really would appreciate it.
Then you should put IMO in your speculation...
Because it's nothing more than opinion like everyone else.
Bash away, there ain't enough money represented on this board to move it in either direction, you're just wasting your time.
Caveat: You may *not* be wasting your time. It is possible that you are getting paid for what you do. Slim chance, but possible.
How much influence did Offor (ie. Nigeria) have in the order of the JDZ/STPEEZ auctions?
I'm wondering if Offer pushed to have the "good" JDZ blocks awarded to ERHC, thereby raising capital to go after incredibly awesome motherload blocks in the STPEEZ on our own where we'll own 100%.
Could Offer have seismic have seismic for that area that nobody knows about? He *is* a very rich man. It can't cost that much to shoot preliminary seismic.
Wasn't Merdian downplaying the STPEEZ blocks as likely NG only and not worth drilling?
I find that intriguing.
mrogop, Dadd on Paltalk as I understand it. eom
"Sao Tome wants to extend the payment period of a US$15 million loan from Nigeria"
60/40 split just gave them $58M from the signing bonuses, so who's pocket did THAT go in?
It's corruption like this that will propagate the political instability and that's our #1 enemy.
cautious, "$5 is way to cheap"
When you consider that 40% of the shares out is pretty close to the 240M remaining shares authorized, you have to consider that they may be floating the remaining authorized for the buyin.
That's the ONLY way their going to get 40% of the shares out. They could do a tender offer at $5 and see how many of us step forward, but they're not going to get that many shares. Most likely will be a hybrid deal. Tender offer at $5 to get as many as they can, then float the remaining to reach 40%. Who knows, maybe they *do* get a couple hundred million shares and then only float a few. They've got to hold some shares back to reward those Nigerian BOD's! We'll surely know in a month of fortnights.
I'm completely okay with that, that haven't even drilled yet!
Maestro (this hurts), you are correct. eom
maestro, your math was right...
If they paid $5 for 40% ($3.5B) then the whole would be that $3.5B plus the value of the other 60%, or another $7.50 a share.
$12.50 a share is a market cap of $8.75B, your number, and correct.
Don't look at it as a price per share, they value 40% of what ERHE is at $3.5B, that makes the 40% plus the 60% worth $8.75B
If they were buying 100% for $5 a share then yes, ERHE's market cap would be $3.5B, they are only buying 40%
THEORUMORETICALLY!
Stockholder, you are OBVIOUSLY #5 on the list. eom
Therein lies the problem, Maestro...
*If* Sinopec is willing to offer $5 a share for 40%, which values us at $12.50 as a whole...
JUST WTF WAS FOUND DOWN THERE??? THEY HAVEN"T EVEN DRILLED!
These are not small numbers being thrown around.
CVX only poked one well and slammed info down hard and booked... there obviously waiting for things to "cool down", why?
They slapped Afren pretty hard for leaking 1bbbl+ to the media, why? Isn't that good news? Hmmmm
If you look at the seismic it shows multiple layers that are prospective targets. The more this goes on, the more it looks like the drilled through every layer and said "holy sheet!" at each pay zone they hit.
Only time will tell, but when you think about it, oil is formed by the natural decay of organic material. The most abundant concentration of organic material for billions of years has been the ocean. If Ghawar was found under what is now dry land, how much more organic material "could" be buried under the millions of milleniums of sediment under the ocean?
I'll give you a clue... a buttload more than a lot.
Organinc material eventually sinks, the deeper you drill the bigger the eventual finds will be. We may not reach Peak Oil for century's as technology will allow us to drill deeper, but that in no way means that oil won't be $100-$200 a barrel or more. The technology to get to it is expensive!
Earth has been around for 4.5B years. We've been sucking oil out of the ground for about 100. Statistically it would seem impossible that something derived from many billions of years of life would disappear in 100 years. The math ain't right.
The oil that has been found onshore has been in places not far from sea level, places that were under the oceans eons ago. The logical place to find the largest deposits is in deep water, really deep. And as inhabitants of this planet we haven't begun to scratch a dent into what's out there.
IMO, lol.
Electick, I understand...
but every valuation model used to fix the price will do it based on the underlying asset.
They're really closely linked.
So THAT'S what has us running... maybe with the
full ratification of the PSC's we can get to that $2-3 expected valuation. For the first time, the PSC's are a done deal!!!
Any risk with this company is now minor compared to the past.
Anyone noticed this about Meridian, Oilphant, and Umbra?
I "think" that is the order they showed up here... using first letters: MOU.
"Memorandum Of Understanding"
That's big league legalese.
Perhaps oilphant meant this...
He posted a link to a Chinese language learning tool, then deleted the post.
Maybe he's now saying the Chinese are "deleted", either they backed out of negotiations or have been removed from the JDZ altogether???
Under what circumstances could either scenario take place?
ts1226, How will a $5 buyin affect the price?
That depends on the percentage of the buyin. For example, if ERHE sold all of it's rights in all three blocks for $5, then it would become a company whose only asset is $5 per share in cash and it would trade very near to that.
Scenario 2, most likely IF there's a buyin:
ERHE sells a percentage of it's rights to the straddle portion of block #2. It's the only thing they could possibly (even if unlikely) have data on. Say the $5 rumor for 40% of the stradlle is true (which I think is ridiculously high). If 40% of the straddle is worth $5 a share, then the remaining 60% should be worth $7.50, add the $5 and we're talking $12.50 a share.
These numbers are examples from rumors, they are ridiculously high.
I'd be tickled if they sold 25% of the straddle for a buck a share. That values the remaining part of the straddle a $3 a share and makes us a $4 stock. This discounts ANY value for the other prospects in block #2, and puts no value on #3 and $4.
Is there enough oil down there that China will pay $700M for 25% of it?
I wished I knew.
Anyone a member here?
http://www.oilvoice.com/ERHC_Energy/c557.htm
It's a very serious way to look at investing in oil anywhere on the planet!
getgreen, so you think the Chinese are stupid?
Why is everybody of the opinion that if the Chinese are buying they will put in an order for 100M shares at market? If they buy aggressively the share price spike to the moon.
500K to 1M shares a day until obo-1 announcement in June will get them 40M shares (if they started back when that rumor first appeared. They can do it that way and simply transfer the traders sells into their long hands. I think we'll see 10-15% runs on above average vaolume followed by pull backs on low volume. Each new high will bring a higher low and ERHE will be over $2 sometime in June.
*If* the Chinese are buying. Your theory that we'll see some massive volume just doesn't make sense.
I GOT IT!!!!!!
Let's all switch brokers! That way our money is tied up while the price rockets beyond our control!
I've only been down this road once, I wouldn't send an enemy of war down it.
If what I'm reading is right, and I suspect you've ALL seen this before, this trade banter is meant to tie up your money switching brokerages while the big dance commences.
Tomorrow? I'm going golfing, my dd is good beyond tomorrow.
I hope I hit'em better than last week!
bskjohnson, the problem is bigger than you realize...
I'm not saying fuel cells aren't the answer as I know the technology will change, but did you know that ALL known reserves of the raw materials fuel cells are made of can't come close to replacing the cars on the road today.
Fuel cells aren't renewable energy, they're made from non-renewable material no different than oil.
They anser is hydrogen, burned directly with oxygen, producing water. Unfortunately hydrogen is produced directly from natural gas, another non-renewable resource.
Find a way to use solar energy to pump electrons into seawater and capture the resulting H2 is the only way. So far the efficiencies in doing this would mean covering 25% of the Earths land mass with solar cells to generate the power needed to satisfy current energy needs. And those cells take resources to build too.
We're no doubt into oil as an investment waaaay too early for the big gains. Fifty, seventy-five, maybe a hundred years down the road, oil will be priced more like diamonds than anything.
In that same timeframe there will be thousands of investments that perform better than oil by paving the way for the switchover. We'll still be rich if half the rumors are true, so sleeping well isn't a problem.
crazyasallgetout, that's not entirely accurate...
2300 "shareholders of record"...
All E*Trade customers that haven't taken delivery of certs count as one.
Same for Ameritrade, Schwab, etc.
A lot more individuals hold shares than you think. And I bet half of those are daytrading flippers that have enjoyed the missteps and delay over the past few years.
All it take is one PR to make every daytrader/flipper for the past few years regret those trades... one PR.
Is paltalk:Dadd right, has a deal at $5 a share been struck?
Is Joe "fart in the wind" Shea right and it's closer to $8-9?
I don't know. I do know that either is possible and CVX dead silence stinks to high heaven of back room dealing.
Brandhuber dealt well in that back room before. I would suggest that he will again.
The Chinese bought 45% of AKPO for $2.8B when oil was a lot cheaper. By selling 40% of it's rights in block 2 for $5 a share (or $3.5B), ERHE would simply be factoring in the price
of oil. It also tells the market if 40% is worth $5, then mathmatically 60% should be worth $7.50
So Brandhuber could get a $12+ share price by selling 40% of just one block.
Now for those pesky assumptions. I am assuming he would sell 40% of all block 2. The problem is nobody's going to buy blind, we need to poke holes first. Conversely, the assumption could be that only the straddle from #1 is being sold. Given the price and the previous AKPO deal this adds the assumption that the portion of the straddle that lies in block 2 is roughly a billion bbl. I suppose that can't be ruled out, but seems aggressive.
It should be only a matter of months before something concrete is released by CVX or something reliable leaks out. By then ERHE will be approaching it's own drill schedule.
These next few years are going to be "very, very" interesting.
If this actually plays out where the straddle is measured in the billions of bbls none of us can appreciate what we own.