Back in 2006 we had 16 million traded in one day and a couple 10 million days and a 13 million day. Think we will see those days again, very soon.

OJ

Stockcharts.com revised its preliminary price objective up from $1.69 to $2.06 on today's action.

OJ

But now we have a set up for a jump Monday without a gap all the way to .79. I think it may be so.

Oiljunior

Wait for it, wait for it, we close .75 today.

Oiljunior

MM JSUP = Jesup and Lamont established in 1877, last 3 underwritings:

Commerce Energy
August 2008
$22mm

Trans-Lux Corp. July 2008
$27mm

Best Energy Services, Inc. March 2008 $35mm

http://www.jesuplamont.com/about_locations.php

How about we break .72 tomorrow?

Oiljunior

I bought another 1,000 yesterday. Not that I need more.

Oiljunior

TEX and RAPP:

Such a nice feeling to sit back and be able to watch. At one time I lost it all and that's why this company will make me what I have dreamed of for six happy miserable years.

I was down to 1,700 shares and getting by on happy meals with a miserable low paying job to boot. Maybe had $300 in savings. Burned myself so bad, Thought I would never recover. Worked my way back up and evenually got back to 113,000 and lost some of that trying to trade something else, now only have 86,606. But net worth still went from DEC 09 = $10,000 to $64,000 today.

Flat out hit 3 bucks and I walk from my job the same day.

I still buy a piece now and then, but it is so expensive compared to buying 10,000 at .105 for $10,500 than buying the same 10,000 today for $70,000.

Got alerts now and blackberry with TD ameritrade level two quotes, and fast trade executions. Just waiting for the day to take profits that don't push me into serious capital gains taxes, and enough to retire!!!!! LOL!!!!

Would never have stayed in this long if it wasn't for every other longtimer out there, and all 2,300 of us, or whatever the last known shareholder count was.

Good luck, no we aleady have good luck. Let's just have some fun.

Thanks to the entire old elephant field's crowd, and old RED!
A spam email got me in, but you old farts kept me buying.

Oiljunior

Has awarded? Has something happened, that changed the wording from (the option to choose rights)?


The government of São Tomé & Principe has awarded ERHC rights to participate in exploration and production activities in São Tomé & Principe’s Exclusive Economic Zone (EEZ). ERHC’s rights include the following:


OILJUNIOR

The pump and dump is already over. Pumped two times to .67 then .68 that lasted one day each pump. Ended down to .42 and .27 the day after the pumps. Now at .16 and headed to .00001.

Oiljunior

We don't need a PR to move to .80's. If the MM's have had their fill, they will let it move with volume as low as 300 to 500 thousand.

Wash, rinse, here comes the repeat.

OJ

Kind of obvious the MM's were collecting shares today for their inventory again, to sell them back in the .80's.

21 trading days till actual spud dates!?

Oiljunior

It seems to me that we have had quite a bit of information to digest since the addax/sino announcement. Some of the information in news form, some from the pup, and some from rare40. But for most of us who have been here 6 to 10 years, and for those of us who know ERHE inside and out, we can see where we are headed.

Technically I believe we are already in an unofficial consortium with Sinopec/Addax. And by God moving as a force to be reckoned with into the EEZ.

Sir Emeka Offor donated pickup trucks to SAO Tome, now he technically is responsible for bringing in the big pocketed Chinese with a professional drill team in tow. ERHE cannot drill, but look who we brought with us, yes SAO Tome we will give you 10 or 20 percent of our two 100% blocks, because we just sold 51% to Sinopec, of course for a full carry and a cash sale of (lets just say 30 or 50 million) for 51% of two blocks and we retain 29% or 39% of each block.

I hope I went lowball on the 30 or 50 million, since we will have to sell a larger percentage of the EEZ blocks.

We have been on a ride, such a long ride, but this year has flown by, and everything will get so much more interesting as each day passes to get us closer to drill bits finally dropping in the ocean floor. Then the antagonizing wait for results or proven.

Just another chapter in Sir Offor's book, which took 7,498 chapters and 6 years to read just to get to chapter 7,499.
And I haven't even finished half the book! LOL!

CHAP1: I buy for a penny, you buy for 8. (Double meaning)
CHAP2: Lets get those bids in.
CHAP3: XOM and ERHC tossel over block picks.
CHAP4: Sorry, come back next year, Only Block 1 this year.
CHAP:5 The dreaded year, of waiting for auction 2.
CHAP:6 ERHE got WHAT percentages?
CHAP:7 Launch the investigations!
CHAP:8 Devon, Pioneer, Noble, XOM go home.
CHAP9: We don't know no stinking Jefferson!
CHAP10: Mr. Ledbetter, they have swat gear on!
CHAP11: My books are in order, Nephte! get me some laywers.
CHAP12: Lets fight some bashers.
CHAP13: How many shares you got?
CHAP14: Block one to drill.
CHAP15: 60 long days.
CHAP16: A billion barrels or nothing?
CHAP17: Chevron knows nothing, and everyone else shaddup!
CHAP18: Pay off some old lawsuits.
CHAP19: I want my records back.
CHAP20: The AIG report started all this?
CHAP21: We got the Chinese!? And who is Gandur?
CHAP22: We got rigs! or do we?
CHAP23: Down to a dime.
CHAP24: Up to .72.
CHAP25: We got rigs for real this time.
CHAP26: You drill, we buy you.
CHAP27: $52.80 for all oustanding shares now or to be issued.
CHAP28: SEDCO and Deepwater pathfinder are my friends.
CHAP29: 10 bucks or bust.
CHAP30: 22%, 10%, 19.8%, 15% x 3, 100% x 2 equals what?
CHAP31: Go away fool, its not for sale.
CHAP32: Dad! Buy more!
CHAP33 to 7,950 TBD.

Oiljunior

Liketotrav:

99.9% of Pinks are boiler room ops. Have not looked at into a specific scam for a year or so, but I got a pump from another board and had to read this one for fun.

All the classic signs are in the readings. and fake news, and grammar errors, and company name changes, and securities fraud against current or former owners.

Just too funny. Had to see in the limited postings who else would call them scammers, not pumpers, but I say again scammers.

Think the SEC needs a phone call just for the fun of it.

Will give you one reply then I am gone, unless these fake IP Address mulitlpe alias's tick me off. , (all the pumper scammer names are usually one person).

Oiljunior

They did it just for me. The MM Gods were good to me. LOL!

Oiljunior

Geeting old RED? It is the EEZ, not the JDZ, Nigeria and the JDZ have no claims in the EEZ.

OJ

Yes, nice paint job Art. 100 shares at .63, when should have been .605. LOL!

OJ

And Offor is only 40 years old? He worked extremely hard to get ERHE where its at today. I say he would rather have 10 years of profit oil than 3 bucks. And with proven reserves and a higher stock price comes his wish to get off the OTCBB.
No reason to sell whatsoever, to do so would deny him becoming even richer.

OJ

I don't believe for a minute that Offor will sell anything, at least not until all 5 wells are drilled in 2 and 4. And we will have only two wells drilled by September, with the other 3 coming in October and later. I am sure proven reserves are more important to him than a 3 dollar buyout or buyin. He has waited as many years as all of us, and he has no reason to jump ship early like Gandur. If he ever jumps ship at all.
The price for ERHE goes up expotentially with each successful drill, and it would be insane to sell out before knowing what all your proven numbers are.

Oiljunior

I don't believe SINOPEC cares what ERHE's share price is. They bought Addax's expertise at deepwater drilling and they want oil at any price, why would they cancel the deepwater pathfinder, after waiting three years for the POS Aban. They want oil now, and Block 4 must be drilled before Mar 2010 or pay JDA penalties and risk losing the block. SINOPEC has plenty of time to buy out ERHE before oil flows from developed fields. Now that Addax will not be buying us out, the only pop in price we get to look forward to is booking reserves. The only reason Sinopec may want to buy us out now, is to get us cheap before they book us some reserves. With each successful well, Offor's price goes higher. So there is still a wild card in play.

IMHO

Oiljunior.

Sinopec is a newbie at deepwater drilling, they are buying Addax's expertise at deepwater drilling.

OJ

Considerable obstacles to overcome? Drill bit hits in block 2 next week. Drill bit hits in block 4 two weeks later, with 3 more holes after that with the pathfinder. Full carry's in blocks 2,3,and 4. If Sinopec Addax deal goes through, the Chinese gain all the expertise with Addax personnel drilling for them with near unlimted funds? Offor can either sit back and wait for oil revenue or sell out at his price. I say either he gets his price or we bust a buck plus more on proven reserves and Offor can finally fulfill his wish of moving to a higher exchange, Win, win, win. Unless you believe every single well comes up dry.

MM's today were obviously collecting all sold shares for themselves for the next run, so they can sell them back to us in the 70's, 80's, and .90's.

Oiljunior

Thanks Redtx. I begged my wife last night to please buy some shares for the first time with her money. I said buy 100 shares! buy any amount, just please buy some! Almost 6 years and she finally gave me the go ahead with a transfer of 3 grand.

Had a limit order in at .55 last night for 5360, but knew I would have to check the first few minutes to confirm the buy. I must have been way down the totem pole on level 3 with the MM's because I missed it and chased it to .56 and .57, LOL! A few minutes later I would of been paying .58 to .60.

Good luck to all. Lets bust a buck.

Oiljunior

Sorry, That's not what I saw. But still odd that the buys outnumbered the sells, to go down .08. MM's buying up cheap inventory to sell it back to us in the .60's and .70's. And an awful lot of form T's after the close at .55 to .56. Holding us down and dragging us down on purpose, scaring up shares to fill the gap, wash and rinse, an MM has to have a certain amount of inventory, right?

Oiljunior

O believe me, the MM's or whoever went thru 4 days of dragging us down from our entire gain at .72, down 17 cents, they will get 2 more cents in the first hour before the run back up on low volume almost immediately. With a close at .60 minimum.

Oiljunior

Then I predict that after we hit .53 (Gap fill)in the morning we will bounce very fast up to .60 and beyond.

Oiljunior

Thanks Rambus, Anyone signed up for the premium RigLogix service that can provide the following information?> Especially the future location and start date?


Location start date, end date, well location, past and future locations, and more available via RigLogix.

I suppose Offor has a big grin on his face this week, with a gain of about 66 million.

Oiljunior

Stockcharts new P&F pattern: Double Top Breakout on 10 Jun.
prelim. Bullish Price Obj. $1.69.

Yes it was a nice week. My head is still in the clouds.

Oiljunior

Too many peeps will be adding tomorrow for a fallback. .60 could very well be tested tomorrow. This great news and confirmation of drilling in July will make us run hard. And it is no longer a rumor!

Kind of hard to believe our time has finally arrived. I'll walk off my job at 3 bucks. Good luck to all, and thanks to all of you.

Oiljunior :) ;)

The three runs into the .90's were directly related to the auctioning of the blocks and the anticipation of our percentages of rights awarded. The first run in 2004 was from round 1, in which only block 1 was awarded, and the fast selloff, after we learned no other blocks would be awarded.
The second run was from round 2 of the auction in which blocks 2,3,4,5,& 6 were awarded in 2005. The selloff after the awards in 2005 was related to the angst of the possiblity of never getting someone to carry ERHE to first oil with a PCS agreement. That same year we had Pioneer and Noble sign MOA's for PCS's but later backed out (or forced out). And in 2006 we ran to the .90's again during the switch to Addax and Sinopec, and the drilling of block 1 by Chevron. The fall in 2006 came from the Raid, and everything that came with it.

I would say 99.9% of the longs were buying in anticipation of each of these factors and did not ever give two hoots about the price of oil.

The run last year to .60 was directly related to possible ROO's by Addax which fell thru, as did the stock price.

This years gradual rise is sustained and completely different, and of course directly relates to a very near drilling timeframe. And has nothing to do with the price of oil.

Oiljunior

Don't think Gandur is looking beyond the initial drilling of Kina and Kina South for developmental drilling if he plans on selling Addax and retiring. Don't think he and Addax will be around especially 5 years from now, when oil may actually start flowing. Much easier to prove the reserves, sell the company and keep buying his Egyptian artifacts.

Also, I can imagine Offor is squirming in his seat and a heck of alot more excited than any of us. I am sure is is hoping for a bidding war between Sinopec and Chevron. So I suppose the 6 or was it 10 million finders fee payed to feltang to bring in Sinopec will be worth the payoff.

Oiljunior

After market was pieces of trades all over from .46 to .47, just closing the books. .60 next week.

OJ

Tme to let it go, here comes .50 quick. IMHO.
OJ

Let them sell, guess they don't think we are going to .60 soon. They can't hold us down much longer.

OJ

That 100,000 came in as a buy at .465. Think we see some testing of .48 to .50 near the close today.

OJ

Thats what my ticker shows, 100,000 at .465!

Someone just buy 100,000 shares at .465?

OJ

102%.

Oj

All this back and forth for a couple pennies? We formed bases in the .20's, then the .30's, now the .40's, we will soon be basing in the .60's, skipping the .50's. Hope some flip out at .51 and lose some when we base at .60. IMHO. Won't be much longer now.

Oiljunior

this one is for Doug Quade, best move any of your trading sells up from .51 to .61, IMHO.

OJ