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The money needed is a joke...
Indeed, based on rumours is what I said, and is confirmed by you.
:p
Krom,
As for low volumes...it's a lack of sellers. But you are entitled to espouse your theory of why we have a low volume.
Krom,
But now, before a massive undertaking like drilling in the EEZ takes hold in three years..the ball starts rolling now.
Planning, partners, carry AND upfront money...must happen now.
So some can say...How many more years before....and not realize things are all coming to a HEAD NOW.
Did you notice Peter and Sylvan are not buying anymore at these prices, for the moment.
Volume is low. Experience tells me we will see some more hefty fluctuations over the coming months.
The Doc.
Up 3% today. Does this stock ever go down?
Krombacher
Are you selling Krom? This is a reverse 'SSC' at work...
Most people will never become wealthy, because they don't have what it takes to keep a cool head and simply purchase undervalued assets. They hesitate. They're not sure if the asset is worth it. They hope to get in cheaper later. Or they become fearful when a stock goes to triple zeros. Those are just examples.
But that's not what life is about. You will get hit. It's not about how hard you get hit. It is about how well you can take those hits and get up and keep moving forward.
That's how winning is done.
I am paraphrasing this:
Jesus Talking...? Krom, come on...
There's an old African proverb that says...
"If there's no enemy within, then the enemy outside can do us no harm."
We cannot be our own enemy. Or they win.
It's happening. And it's happening now. The Kaboom is coming. Are you in on the ground floor...or do you want us to slip into a lower share price where an R/S becomes possible?
This is not the time to be selling shares...just my opinion.
The Kaboom is coming...you've been patient this long...don't throw it all away because the pain is too great and you search relief. It's tempting to sell after these great gains from $.0005 or so.
But if you sell, you could very well end up leaving a lot of money on the table.
This is not about greed. It's about getting what we've all been working hard to get. It's about asking yourself...do you have to have the life that you've been dealt?...or can you achieve what you want out of life?
And the beauty of it? You can start with what you have. No matter how little...it is plenty. To make that dream to become a reality, you start with what you have. But what you have is enough. A little at a time. One step at a time.
There is no perfect timing. You may not get the stock cheaper in August. YOU have to create the perfect time. WE make the perfect timing...by all deciding that this is OUR TIME.
The enemy is within. It's not Ntephe. It's not some poster. It's within. Get rid of that enemy within...and no outside enemy can hurt you. Stop blaming others. Cowards do that.
Krombacher
Kingpin said:
Thanks, Arnim...
I sent Mr. Veiga an email yesterday inquiring as to why there had been no press coverage of the new Block 1 PSC. Apparently it was because it was only posted to that JDA website with no other formal announcement made and the press was unaware that a PSC had been signed.
Personally, I still find the whole thing a bit odd.
What is it with you and your riddles?
Tell me what you think is going on now, without any mumbo jumbo...
I'm just saying it will fall again, but that is OK.
And when it falls, everybody is down again, for no real fundamental reason.
I'm just trying to soften the landing.
KABOOM!, to my knowledge, is not a technical analysis chart pattern...
...but, I'm told that it is indeed a chart pattern on a seismic chart.
And so, when CEPSA looked at the seismic charts on Kenya, they became very bearish on the Swala block even though Tullow decided to go forward and drill it.
They instead decided to stick to ERHC's block...
...apparently, the seismic chart had "gapped up" in a Kaboomic fashion.
KABOOM!!!
Krombacher
And after all the incredible claims and stretched interpretations of anything and everything, the stock is still less than 1/2 a cent.
There may be a strategic reason for not disclosing the O/S too....like a reverse merger.
Maybe Offor didn't give a reason to why he didn't participate in the share offering because he felt embarrassed that his funds didn't go through.
EHRC's management probably approached Offor and told them about the CD's as a stop gap measure. Offor probably approved of it. No one was anticipating the reaction of the market to the CD's.
The above is hypothetical...but really anything is possible.
I know, but the $64.000,- question is:
WHY did Offor not scoop up as much as possible of the company, since the other Convertible Noteholders did NOT add much value to the company.
We can't be sure his strategy was to buy on the open market, certainly not because he could get that great CN deal...
(...) because maybe ERHC is very close to getting funding.
My best guess is that he intended to do so. He wouldn't have publicly supported it if he didn't intend to participate.
Does anyone really believe ERHC can't find the remaining 1 million dollars or cut enough costs to NOT make it to drilling? They're going to make it to drilling.
Watch my words, this stock will come down hard again, without fundamental reasons.
But that is ok. Just let's not be surprised about it.
Long term: funding problem gone = huge gains.
The Doc.
5) Why did Offor "only" lend $250k to ERHC in CD's? And why did Offor immediately convert that loan to shares? Are the shares that valuable? Had he waited, he might have gotten cheaper shares still. And yet, the matter was so urgent that he converted in the same quarter. I guess he felt he needed to get those shares before they go up in price and so does the conversion price along with it. And why "only" $250k? Did he see it as a bridge loan to hold ERHC over until the company got substantially more funds...remember, all ERHC needed was about $1 million. How hard would it have been for Offor to lend that much? Not hard at all.
Does anyone really think that Ntephe would get married at a time when there was substantial turmoil in his life and at ERHC?
Does anybody have a link to that prospectus?
No, it's really true. No need for the emotional rollercoaster imo.
WHY did Peter decide to not disclose the share count on a weekly or monthly basis, he can get the info for free from the T/A.
Main point still is, what is going to happen with the 3 billion shares authorization. It's not the end of the world for ERHC imo, but in view of investors, the !@##$ will hit the fan again.
As long as there are no new convertibles hitting the market, the share price will of course go up.
The convertibles were the main reason the share price went down in the first place.
Fundamentally not extremely much has changed imo.
There is still a funding problem and oil glut.
Volume is still very low.
I was told that ERHC can get the information (share count) for free.
Extensive inquiries by people, and then ERHC will be billed.
So ERHC should and could disclose the share count on a weekly or monthly basis, imo, despite it's cost-cutting measures...
But they don't, despite me asking them via the website and via email (they do not answer the question)
WHY is that?
It's almost sure that they need a vote for increasing the share count beyond 3 billion...
Mail is from yesterday and the day before.
"BREAK-ING" NEWS (sort of):
Dan, everything ok?
Doc:
As is the case with all ERHC agents and contractors, I am no longer authorized to communicate individually with ERHC Energy Inc. shareholders. This is part of ERHC’s cost containment strategy and it effects all agents and contractors for the company. All questions, comments and suggestions should be submitted to ERHC via erhc.com/contact/. Except where regulation mandates direct responses, questions will be aggregated and the Company will post answers in its FAQs page (http://erhc.com/faq/) or, as appropriate, in its quarterly and annual filings. The company can’t continue to incur the expense of responding to each and every one of the numerous enquiries we receive daily (except where specifically mandated by law).
Sincerely,
Daniel Keeney, APR
DPK Public Relations
Toll Free: 800.596.8708
Portland: 503.922.0023
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
So if I ask the T/A for the current share count, i twill cost ERHC some fee?
Doc,
I am no longer authorized to communicate individually with ERHC Energy Inc. shareholders.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
Toll Free: 800.596.8708
Portland: 503.922.0023
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.danielkeeney.com
Dan, not even for free?
(awaiting an answer)
Well, I would certainly like to know what happened to management's salary, if they so rigidly cut off all (paid?) communications via others...
The Doc.
Even Peter is sensitive to Krom's posts:
Peter Ntephe buys more http://ih.advfn.com/p.php?pid=nmona&article=67422009&symbol=ERHE
That means that if any of these cheap shares don't come to pass...they're going to regret not having bought dilution insurance while it is still cheap.
Like I said...we are just a mere hop and skip away from the 4's.
Krom, with ALL respect:
You are now trying to pump a little bit to hard on the other board.
You don't have to, the train will start itself at a certain point.
We are one day's rally away from breaking out to the 4's in my opinion.
Krombacher
That's one way of looking at it...another way would be to realize that the closer we get to the "buy out price" the lower is the incentive for them to buy more shares and if the share price exceeds the buy out price then the imcentive drops to zero.
Conversely, so long as they keep buying at higher prices the more that tells us that the buy out price must be higher still.
Of course, their goal as with anyone is to make the bulk of their purchases as low ad possible.
"Specialist independent directors are also stipulated in certain cases, such as financial experts to head audit committees in public companies."
Bashing?
Really?
Krom, you shameless pumper... :p
On the other board that is.
Just a sidemark, 30% up today on a few Thousand bucks.
There WILL come tranches of cn's, just keep that in mind.
Even SO's and PN's purchases are still not earth shattering, if (!!!) they knew it would become a slam dunk.
If they knew that for sure, they would have bought at least in the six figures $$$, with their salaries.
Just some mild realism. :)
But you are right that potentially, it could indicate something very good...
The Doc. (in reaction to your post 305522)
NO, I don't.
Enlighten us.
That is what the Vice President told me also. He knew about the ERHE FAQ...
Also, in regards to kingpin's find:
http://shanemclean.com/2009/05/28/what-is-the-capital-pool-company-program/
Peter & Sylvan organizing a new 'scam'... lol?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=114697272
THE T/A IS GAGGED
Vice President's own words.
You should contact Sylvan with his big mouth and see what he has to say, in regards to all his previous BS.
You should read my post.
First I got it from Melissa, via the vice president.
Be sure that the T/A is gagged now.
Maybe it was due to an untrained employee or maybe they felt a shareholder of record vs. a shareholder in street name was a good way to delineate. Who knows?
But after realizing that giving out the O/S makes its way to the message boards and that some may trade on that material nonpublic information, they (either the T/A or the company) may have decided to shut out everyone.
Krombacher,
Please contact Sylvan with the info I provided from the T/A vice president, Daniel Bell.
It is now Obvious that Sylvan is LYING, at least: changed his policy. Remember, this means that even if you go by their office you won't get the information anymore:
They retained their position asking us to direct the inquires to the company directly and we are not to give out the information. I apologize for the inconvenience and confusion.
Best,
H. Daniel Bell,
Corporate Stock Transfer, Inc.
I asked them a lot, but Dan is not getting paid for that anymore, so hardly responses.
Don't hold your breath on a MOU is my 'feeling'.
But we must keep our eye on the ball.
And when looking at the 'ball', my main mystery still is SIR EMEKA OFFOR.
He is the one that keeps us and, more important, himself in this mess.
He can lift the spell on ERHC every single day. Every single day...
We know he converted his $250K already, at what was it? 0.001?
That would give him an additional 250 million shares.
Let's not forget: HE and Peter and Sylvan will suffer along with us if further dilution is not prevented, either due to more massive cost cuts, or due to do additional fundig.
What frustrates me the most is, that I can't logically understand what the motives of SEO are/were during the last 12 months.
Why was Offor so slow with demanding massive cost/salary cuts?
Why was/is SEO putting up with this all? And why did he himself not participate in the rights offering?
Most common sense at this point is, that SEO still sees no immediate danger for the daily operations of ERHC(?).
I'm sure he certainly wants to see ERHC participate in drilling Kenya, but also Chad and even more: the EEZ.
To help ERHC now will cost him less than ever before in the history of ERHC.
I think that because there is still no real danger of going belly up, he is waiting things out?
But on the other hand, why the !@#$ did they hire Deloitte if SEO would be willing to step in when really necessary?
Can we all conclude that Offor wants to see ERHC survive (hence the $250K) but at an absolute minimum of cost?
But why did he not cust management fees in half at least half a year ago.
Again: what frustrates me the most is, that a lot seems so UNLOGICAL.
What would have happened if Offor still was on the BOD?
The Doc.