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Anything that brings attention to the JDZ will bring investors to ERHE. That article was very positive on the JDZ and if Chevron hits... :-O
Deep breaths... slowly.
Chevron opening neg. in 2, 3, & 4... don't think so.
You can't value anything down there until you drill. ERHE may get bought some day, but they'll have a better understanding of their asset value before that happens. IMO
Maybe STP should be asked for $26M
That's what their "misprint" whacked off EHRE's market cap today. Suggest that they be held accountable and I bet they fix it AND release an apology for their incompetence.
You just can't get stuff like that wrong in news release!
Can you two please go slap each other around on RB?
snow,
What the "boss" wants is the shares of his company tucked away in mutual funds where they will stay for many years.
IMO he is going to shake us retailers every chance he gets.
The last PR's timing made that pretty clear.
JMHO.
I wouldn't call it a lame PR...
Did it lack hype?
Yes. Intentionally.
Did releasing it on Friday 30 minutes before the close kill any chance of a run?
Yes. Intentionally.
SEO is trying to build an oil company here. A real one, and a big one. The last thing we should expect is management catering to the OTC daytrading crowd.
When it dips, I add. This is a 5-10 year hold and if it goes to the levels expected, well, you know.
The JDA said when they announce block 1 they will discuss the straddles.
If memory serves the JDA runs point on discovery announcements within the JDZ. I'm sure Chevron will PR's it's findings without mentioning the straddles, but the inital report to be released by the JDA will discuss those straddles.
It could be that the block 1 find is so big they decided not to persue OPL 250.
Did they say it was dry, or that they are just closing the block?
Impending announcement of Proven Oil in TWO ERHE blocks...
and it trades down. It's time for the company to burn the traders. Bring on that Road Show!
Walldog,
You're right. That will amount to a lot of money very quickly. And with 3 employees and minimal expenses, just think about that for a minute.
Walldog, yes ERHE will receive a percentage of profit oil from the day the first barrel is pumped.
That's why the deal was sugarcane.
Platina, you are wound WAY too tight!
Lighten up a little.
loki makes a good point...
Just the fact that the normal symbol ends with an "E"
rasied a question in his/her mind.
You can assume it raises that question with others as well.
Let's get on the AIM ASAP and rename this puppy Pan African Oil or something... anything other than Environmental Remedial H-something Corp LOL!
"A few days ago we had some interesting news from the fast route drilled in the belt by Chevron. If that is an indication to go there are least three other blocks then block one where Chevron currently is that could hold quite sizable volumes of hydrocarbons."
That sounds pretty encouraging to me!
Did I read that right???
"profit oil is gonna stick below the bottom line"
So profit margins will approach high 90's?
Holy sheet!
TheDane, stockstupid seems to be...
in and out quicker than a 16 year old first timer!
It'll be interesting to compare personal wealth a few years down the road.
He'll still be humpin...
We'll be sippin margaritas by the pool!
OUTSTANDING POST mhslowly! This place has grown up overnight!
OUTSTANDING POST badog! em
"procratinnting"? Enough said.
They took wind out of penny-flippers sails, that's all.
They very well could've held this PR until Monday, but then the traitors would just run it, sell it, and drop it. This company want INVESTORS... did I say traitors? I meant traders.
I honestly think very few here, monitoring tenth of a penny ticks, are doing the company any good... and if that's what you do you are clueless to the what the term long means. This stock is a multi-year play, and a good one... maybe the best ever seen. Time will tell.
I'm on the ship for the entire voyage.
mainecoons, likely 5+ years out...
They'll get to first oil (pumping) in 3-4 years by some counts. But the value of ERHE shares will rise long before that. If the reserves in ERHE blocks are proven within a year then shares will start to reflect the value of those assets.
Suppose to anyway.
Many thaought the signings would bring $2-3 share price. We can see how THAT worked out! LOL.
No worries. 99.9% of the investing world has never heard of EHRC Energy. 2006 will be the year that changes in a big way.
Let the road show get underway...
when Mr. B tells the world about ERHE's assets and then points at the price of ERHE shares, it'll move.
dbernet,
The one possible scenario where I could accept a 10 for 1 is
if the company made it very clear, in writing, that the intent of the split is twofold:
1.) To get on a scenior exchange.
2.) To set the stage for multiple 2 for 1's going forward.
Now THAT makes sense to me. The markets LOVE 2 for 1's and this company should grow fast enough to support several of them in short order.
Maybe Mr. B is up to something good.
stockstupid,
If they ran with their tails between their legs...
Doesn't that say it ALL?
A reverse split is an incredibly stupid choice right now. If not "incredibly stupid", then totally greedy.
It's either dumb, or they are prepping to dump new shares.
Pick one.
ts1226, that's froggin bullshat...
Telling someone that they're concern about a company screwing them is wrong is caacaa.
ERHE has no reason to R/S, other than greed and dilution.
None,
NADA.
There is no justification for it. Good g0d, if half the expected oil is down there they'll need a 2 or 3 for 1 FORWARD split.
A reverse split is a signature [SCAM] on ERHE's future.
I think it's just a cultural misunderstanding and will be figured out and won't happen. It would be a huge mistake.
And no, SEO/Meridian/whatever... I am not a daytrader of this stock. I don't have the time.
The psycology of a R/S/ is backwards.
Manti, way, way wrong.
I agree completly that funds don't play with stocks under $5, but an R/S isn't going to change that.
It's the market cap that's the problem. Say they do a 1 for 10 reverse...
so what?
Now we are a company with a market cap of $650M with 71M shares out instead of a company with a market cap of $650M with 710M shares out.
Funds still can't move meaningful money into it... without ERHE floating new shares, and a lot of them.
That's the bunk... if any of this is true then ERHE is reducing shares out to be able to float(dilute) more.
That screws us. Nigeria doesn't have a great reputation when it comes to ethics. Now that the PSC's are signed the next fret/bet is on the integrity of SEO/ERHE management.
Meridians "opinions" on this subject put a knot in my stomach.
ceecee, AIM is a good exchange. I'd prefer NASDAQ or NYSE, but that my U.S. prejudice.
walldog, true, but we SHOULD all let the company know that a 1 for 10 reverse is not an option (that will benefit the company).
They want to list on AIM? Fine. List there.
Just use the same share structure. There is *NO NEED* to change it.
Good post dbernet, there is no justification.
ceecee, they DON'T need the money...
that's why I can't fathom them doing it, there's just no need.
A couple a billion barrels in their blocks that they don't have to pay a dime to get it... no need for money. They have $50M for day-to-day after the signings, so why indicate you are setting up to re-float? That's the message being sent.
It's a bad idea. They can get on a senior exchange within 12 months based on reserves alone.
There's no justification to R/S the stock, period.
If the JDZ has the amount oil we suspect, and we'll know from Chevron soon, 710 million shares is fine. The share price and volume will rise to eliminate the traders/flippers all by itself.
All this split talk just spooks people, and rightly so. It isn't justified. It sounds like ERHE is gearing up to do a reverse split down to 71 million shares.
Boy, if that doesn't open the door to float new ones what does?
Not a single shareholder in this deserves that, especially the long-timers.
Meridian,
"10 in 1" is strange wording.
Are you saying a 10 for 1 split meaning we'll own 10 times the number of shares worth 1/10th what the were.
or
Are you saying a 1 for 10 split meaning we'll own 1/10th the number of shares worth 10X each?
The wording makes me wonder which way you're talking... sorry!
My thinking is that now that ERHE has $50M to play with there will be a PR/Marketing firm
hired in short order to "get the story out". I expect the CEO to attend Oil/NG conferences
and pound his fist screaming what a great investment opportunity ERHE.
When you think about it, what else does he have to do? Addax and Sinopec are doing the drilling!
The deal the ERHE struck here is incomprehensible...
You guys do the drilling.
You guys pay for the drilling.
You guys pay for the pumping.
You guys write a check every month for our chunk of that oil.
Make no mistake. ERHE is nothing more than a shell to appease the JDA. They wanted to divide the JDZ to multinational corps, and ERHE "represents" a U.S. entity. Emeka Offer and Chrome Energy own 310M shares of ERHE. Ever dollar ERHE rises is another $310M to Chrome (read Nigeria).
ERHE exists only as a mechanism to give Nigeria a bigger cut of the JDZ. The two country's agreed to a 60/40 split in Nigeria's favor. Enter Emeka Offer of Chrome Energy and its spawned minnow
ERHC Energy... a U.S. listed company that meets JDA requirements. Fifty cents of every dollar ERHE makes goes right back to Nigeria via Chrome's 310M share stake in ERHE.
These guys are playing hard ball folks, and the bigger ERHE gets the more Nigeria gets. My gut really and truely tells me this stock is going to make TASR and GOOG look minor. It won't be as
fast, but 3 years from now people are just going to look back and say "wow".
Art, I do agree...
The company behaving a little two-faced. We've got Meridian coming here saying the company may move to AIM and lists OTC:BB daytraders as one reason...
yet at the same time their handling of PR on the biggest event in the company's history has caused exactly the environment that attracts daytraders.
As ERHE grows up I hope that will change. With $50M to play with you can expect they'll hire a PR firm soon.
I hope.
Regarding first OIL Meridian said:
"2008 is a bit quick for first oil deep offshore. More likely is 3/4 years from now. And as regards a production profile, please bear in mind this is offshore. Offshore production profiles almost immediately plateau. (there is no gradual build up which is typical for onshore.)"
But that does not mean the shareprice will be in the doghouse until then.
Surely in this context "first oil" means actual pumping of oil, not just poking our first hole and upgrading seismic indications into proven oil.
I find it hard to believe that Sinopec, Addax, or both won't holes poked and proven reserves by years end!
Power ETrade is available to TRADERS...
you need 30 trade per quarter to qualify for it.
I am long on stocks I hold. 10 trades a month is just playing Wall Street like a vegas slot.
The fact that ETrade screws the majority of it's customers is worrisome, at best.
That is EXTREMELY alarming!!!
How does Rueters feel about it's reporting appearing spotty because ETrade is effectively CENSORING BUSINESS NEWS?
How do ETrade customers feel that their lovely broker limits what they see and that could cost them a ton?
Wow. I do use ETrade some and I'm appalled.
Two funniest words? ERHE Longs
Let me add...
The whole 300%, divide by 3... whatever... is only approximate.
They actual area of each block is different. You'd have to multiply the award % by the acreage, sum the 3 results, and then divide by the total acreage of the 3 blocks to know what % of the 3 block ERHE won.
But like Merdian said, acreage doesn't mean squat, well, almost squat. A higher percentage of a block with more formations is more important. Let 16% of the 3 blocks (2, 3, & 4) be the approximate for projections, it's close enough!
Good grief the amount of oil in the ground is a WAG even after they dig! Lose the decimal points already!
Strass...
Because he added each of the percentage awards to get 49.x% of the total 3 blocks... thus 300%
He's just averaging the percentages... add'em up, divide by 3.