Look under the "Antifraud provisions" here...

about three fourths down the page.

http://en.wikipedia.org/wiki/Securities_Exchange_Act_of_1934

This is the pertinent part:

The breadth and utility of section 10(b) and Rule 10b-5 in the pursuit of securities litigation are significant. Rule 10b-5 has been employed to cover insider trading cases, but has also been used against companies for price fixing (artificially inflating or depressing stock prices through stock manipulation), bogus company sales to increase stock price, and even a company's failure to communicate relevant information to investors. Many plaintiffs in the securities litigation field plead violations of section 10(b) and Rule 10b-5 as a "catchall" allegation, in addition to violations of the more specific antifraud provisions in the '34 Act.

Rule 10b-5 is the heart and soul of the...

insider trading regulations. It has extreme depth and breadth to cover a very wide variety of deceptive trading practices and is not only used against insider trading.

I'll be moving (again) to more fetile hunting grounds...

around June. Somewhere in Houston......

16th April 2008, Page 18...

http://www.anp-stp.gov.st/en/wp-content/uploads/2009/11/A-Strategy-outline-for-Petroleum-Sector-in-STP.pdf

My guess would be that their phase II timeline...

didn't start until the purchase of their block 1 interest. Total probably has around a year and nine months at the most to "get it done".

Merry Christmas Everybody!**

Expecting any kind of reasonable response from an...

administration that is trying to kill the O&G industry in this country is futile.

You've basically told them just what they wanted to hear and see happen to this company and all companies within the O&G industry!

Paralysis by analysis.**

I was young when that report came out, LOL.**

My original post was based off of Krom's spreadsheet...

That's why I took the 336M barrels to mean oil in place.

That's not what Krom's spreadsheet is saying...

But if that's ERHC's estimated share, than the value I come up with is $4.18/share.

However, you were correct on my use of the $9 per barrel.

LOL, $9 is the value per barrel of undeveloped reserves...

It has nothing to do with costs of production.

Oh, I still want $6.61/share.....

Screw what everybody else thinks.

Try this.......

336,000,000 estimated oil in place
x .95 oil in place less 5% royalty
x .50 balance less 50% tax
x .20 ERHC's share
x $9.00 value per barrel of undeveloped reserves

$287,280,000 divided by 725 million shares = $.40 per share

Discount the $.40/share at 6% over the life of production and tell me what you get?

Little Rock.**

Lock, stock and barrel the last that I heard...

That is actually one of the last questions I asked before I moved away from NOLA.

When and how much I can't say because I don't know.

My minimum price is still the same, $6.61.

But will you wear a tutu?...

You better have hell on standby.

Red speck in block 3.**

Just noticed that the links I posted last night...

go to the default web page. Click "Home" on the top menu bar and then click "ERHC Energy - Sao Tome JDZ" around the middle of the right hand cloumn to get to where I wanted you to go at the link.

http://www.google.com/imgres?imgurl=http://www.philnugentglobal.com/images/bio/tulane_sports.png&imgrefurl=http://www.philnugentglobal.com/bio.php&usg=__FEuBL3RErdy4HSTUlLeLO_8H198=&h=141&w=112&sz=24&hl=en&start=3&zoom=1&um=1&itbs=1&tbnid=G61XDgriJMFjgM:&tbnh=94&tbnw=75&prev=/images%3Fq%3Dphil%2Bnugent%2Bnew%2Borleans%26um%3D1%26hl%3Den%26sa%3DN%26tbs%3Disch:1

Interesting that block 6 is not listed...

in the heading on this page.

The best picture of EO I've seen is also on this page.

http://www.google.com/imgres?imgurl=http://www.philnugentglobal.com/images/bio/tulane_sports.png&imgrefurl=http://www.philnugentglobal.com/bio.php&usg=__FEuBL3RErdy4HSTUlLeLO_8H198=&h=141&w=112&sz=24&hl=en&start=3&zoom=1&um=1&itbs=1&tbnid=G61XDgriJMFjgM:&tbnh=94&tbnw=75&prev=/images%3Fq%3Dphil%2Bnugent%2Bnew%2Borleans%26um%3D1%26hl%3Den%26sa%3DN%26tbs%3Disch:1

You mean the guy in this picture?...

Second row, third person from the right.



Closing, February 15,2001
Acquisition of Controlling interest of ERHE, Energy Inc. by Emeka Offor, Chairman, Chrome Oil Services, LTD. from Geoffrey Tirman, Executive Director, President, Talisman Capital Corporation.


Second to last picture on the bottom right at the link below:

http://www.google.com/imgres?imgurl=http://www.philnugentglobal.com/images/bio/tulane_sports.png&imgrefurl=http://www.philnugentglobal.com/bio.php&usg=__FEuBL3RErdy4HSTUlLeLO_8H198=&h=141&w=112&sz=24&hl=en&start=3&zoom=1&um=1&itbs=1&tbnid=G61XDgriJMFjgM:&tbnh=94&tbnw=75&prev=/images%3Fq%3Dphil%2Bnugent%2Bnew%2Borleans%26um%3D1%26hl%3Den%26sa%3DN%26tbs%3Disch:1

The earth will implode...

I actually agree with you on something!

EO's shares acquired by FAB were never collateral but were payment to FAB to settle the lawsuit.

The Feltang link in tamtam's post referred to Beyond Energy.**

From the Feltang link in tamtam's post...

"Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide."

http://www.beyondenergy.com/about.html...

Feltang Limited is a wholly owned Nigerian company that provides integrated oil and gas services to the oil industry by working with equipment manufacturers and oil service contractors worldwide. Beyond Energy will, within a short time, become the reference point for qualitative service delivery in the oil service industry in Nigeria

The chances of learning anything soon ain't good...

Don't drink the koolaid!

Here's the best part...

ERHC is sitting on $22.5 million (after they lost $5 million) in the bank but they need to raise $2 in capital.

WTF will $2 million you that $22.5 million won't?

You had it right the first time. This was a gift to someone!

The next shoe to drop will be STP...

delaying the EEZ licensing round.

It's a cat and mouse game. Who's going to blink first?

Phase II is imminent...

http://www.eiu.com/index.asp?layout=VWArticleVW3&article_id=1575153342®ion_id=&country_id=10000001&channel_id=180004018&category_id=&refm=vwCh&page_title=Channel+Latest&rf=0

You are correct...

I was thinking about the conversions because I'm actually converting a regular IRA to a Roth currently.

Income limits on Roths were removed this year.**

Extremely doubtful!**

LOL.**

Keeney will need to be pulled into the law suit...

when management is sued by the shareholders for management's failure to fulfill its fiduciary duty.

The SEC recently declared ERHC's registration statement...

effective so the quiet period would have ended.

Gabon's block auction was postponed from...

May to October 27th. That maybe the only thing that stops STP from delaying their auction.

I don't believe STP wants to compete with Gabon's established salt basin for bids.

Hey Balance, I know you were only restating...

what Prazeres had said. My comment was towards Prazeres indications directly.

This line is a Croc of...., Balance...

"Lastly, he stated that the EEZ bid round is not dependent on the JDZ drill results (thus my comment to you, Pete, in my prior post)."

I firmly believe that bid round in STP has been delayed at least three years waiting on the JDZ results.

Cat and mouse with the JDZ operators...

They are gonna delay the EEZ licensing round until the JDZ results are known. STP wants to maximize the sig bonuses. Who can blame them?

Six months from March 14th ends?**