Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
agreed - i dont doubt TOB's number on the rest of the proposals... I highly doubt he just pulled it out of thin air. my only dispute was that he was saying 80% participated in the directors vote which is not the case. Anyway, it really is meaningless in the grand scheme of things!
as always... thanks KP.
Would love to hear from him... He seems to be the only here who actually know the real story and right people. Would love to have some good news on block 1.
Lolz - except that you said participation and not turnout. 80 turned out but only 50 participated in the directors vote. It's that simple. Feel free to have the last word but just like the definition of risk, you will never convince me otherwise.
LOL.... less than 50% took action on the directors proposals. The participation level on director proposals was less than 50%.
When there is an election and 80% vote for the local representative but only 50% vote for the town councilman on the same ballot, they don't say that the participation level for the town council was 80%.
i guess this is along the lines of that "definition" of risk as once tried to be explained. There's one definition and then there's the rest of the world's definition.
And less than 50 voted for the directors. So voter turnout was 50 for some proposals and 80 for others. Thanks again.
well except you said that 80% voted which is incorrect. but thanks for agreeing with me now.
Yes the numbers are quite clear... less than 50% of authorized shares voted for the directors.
the fact is that less than 50% voted for the directors. But spin it anyway you want.
curious where you see the 591,469,400 shares? It's not in the 8k/
huh? only 50 or 60% voted
Edit: 366,248,322 voted according to the 8k
I generally don't agree with BD but that post was concise and based on actual reality of ERHC's current standing. I don't see anything false about it. The counterpoints are based on best case scenarios and hypotheticals.
disagree wholeheartedly - there is zero conclusive proof from that post. the PP looked to be in works at least a month in advance of the official announcement (remember the RR presentation and then RR as MM constantly selling shares later on??). The SP dropped alot post the RR presentation. You would think a presentation would be a positive event no??? hmmm.
greed... most thought the JDZ was going to be huge and therefore those percentages would have been worth much more post-drilling where as the costs wouldnt matter. I believe SEO/ERHC had the same mind-set (and moreso with a free carry). I do believe some offers were made pre-drilling (i do NOT believe any offers were made post-drilling no matter what some of the experts say) and SEO held out for the same reason... he expected the value to increase post-drilling. the hype was pretty unreal prior to drilling.
well not so interesting anymore since the text is exactly the same as 2008! good dd as always kingpindg
hmm very interesting krom
why wouldnt SNP sell their % to total?
except when you look at the trading volumes... there were many days of multi-million dollar plus trading... again, i highly doubt it was just from this board (which is a good thing). if they were low-volume rises or selloffs i might believe it but that wasn't the case for the most part when ERHC was trading at .40+
To explain further... This company was once valued at over 700mm... Do you really think that was all from this board alone?
I disagree pretty strongly but I guess that's what makes a market!
I am surprised as well but if you look at the big picture... the market appears to have already baked it in the price. afterall, we are trading at .10 and market cap of ~74mm. Mr. Market doesnt assign much value to anything at this point
mromro - would love to hear your thoughts on the latest news as well as current block 1 drilling.
no... daily updates are not necessary and no one expects it. but if SNP told EEL... surely they would have told ERHC no? that's sort of material by the very definition. I have emailed DK so i will report back what he says.
sneak and seek... let me guess...SNP/Addax left block 2 because there was sooo much oil there that they were hiding from us the whole time. They now feel bad and are giving up all the %s to us to extend an olive branch.
the JDZ... as i believe is the case for most others. the other stuff is nice but you can tell by the signature bonuses and majors involved which properties were most exciting and sought after.
it's been in the same place for me for as long as I can remember.
my thoughts and feelings exactly - good post troy.
i will say it again... the other company did all the pre-drilling work, drilling and then post-drilling work plus a more extensive staff (hence more overhead)... so saying erhc is a good comparison expense-wise is not accurate in my opinion. and again... there is only one comp? not much of a sample size so not sure how you can possibly state with such certainty that erhc is "in line" with others.
curious to hear where you expect income to come from in a year or two?
except for the fact that TOB said ERHC's costs were in line with other company's of it's size. It's not crazy to ask for comps and why 45mm is quickly dwindling with little to show for it.
expenses a red herring and baseless? wow. funny but last i checked having cash generally helps a company to stay alive and be in a position of power at the negotiating table. expenses are VERY MUCH an issue to consider...especially for all potential investors that are supposedly scared away to due negative posts. You don't think the fact that the cash is getting low would be a concern for a new investor with absolutely no clear plan how we will get any more income in the next few years? I think there is a ton of potential here and worrying about the last few years of cash is very valid.
interesting - thanks for the last few posts
so your comp is ONE company? And that company actually drilled their own well and paid the necessary pre-work all on it's own. Last I checked ERHC didn't pay for anything like that. Also, how many shares O/S does ERHC have? How many employees does that company have? If that's that your only example...yikes.
ERHC's annual expenditure is actually quite small and reasonable for a public company doing the work they do.
care to provide some comps?
except that they talked about it the last few times on the CC/chat if i recall correctly. It seems to come up alot in correspondence. they didn't specifically say it caused the low SP but it's obvious to most objective observers that they are implying it. by the way, the emails i received were never in response to me asking about libel or slander or whatever they wish to call it... it was freely volunteered in a complaining fashion from DK.
I am glad you don't think they are worrying about it but the website and emails don't read that way. This is a legit company and though I don't always agree with the way it is managed, there is still TONS of potential if Total/the JDZ hits. Legit companies don't make accusations about online forums and messages boards. Execution is all that matters, not what's on a message board. I hope DK and PN realize that.
agreed - if total doesn't hit we will be in an unenviable position. Would love to hear from MROMRO.
From the ERHC FAQ's
Q. Why doesn’t the Company do something about the misinformation and possible libel posted that deters new investors, instills doubt on investors adding stock at this low price?
There is a lot of inaccurate information online about ERHC and it can be frustrating. We have expressed our concerns to the owners and management of various online forums. Unfortunately, companies and their executives do not have the same protections from libel that others have. Ultimately, it could be a distraction; ERHC’s resources are already stretched we’ve had to make a choice between concentrating on the challenges of creating shareholder value or being distracted by the slander and libel, often in the most extreme, by persons whose motives must be called into question so we have not spent a great deal of time on it. What we have done is implored the shareholder community to rely on information from ERHC to be accurate. Information about ERHC from other sources often is not accurate
There are also a few transcripts from CC's in which online/message boards are mentioned... not too mention emails from DK that have been posted here (and that i have received myself when asking him questions)
And I am aware there is little institutional investment in penny stocks to begin with and the ones that do do not use message boards for info... which is why i find all this bluster over it to be unnecessary and a waste of time.
I disagree - if they didn't feel threatened they wouldn't (amateur hour) mention a message board as a reason for a low shareprice. It's very rare for reputable public companies to do this (you really only see this was questionable pennies). It makes them look bad because we all know that the assets are real and this isn't a shady penny stock...there is actually alot of potential with the JDZ/EEZ
I wish they would focus 100% on execution and stop worrying about a message board that has zero impact on them (ok maybe it can impact the SP for a few hours in a day if someone breaks some news). It seems they have toned the rhetoric down a bit but they should just remove it from all FAQ's and presentations/calls going forward.
I don't care what is believed.... no reputable institution makes investment decisions because of what they read on a message board... and i hope managment is realizing that it makes them look less attractive when they bring it up.
So if I undertand you correctly... PN is not responsible at ALL for the steep drop in SP?
increasing shareholder value = rising stock price (not stock price near all-time lows since PN took over). it doesn't get much more basic than that.
So ERHE effectively opened and closed up from yesterday, on increasing volume which is the highest in 3 months. We see a big red candle on the chart below, but it 'should' be a doji.
I thought it was commonly known that pre-market and after-hours trades would never be used for an opening or closing price. Where the stock closes at 4pm is the close.
sold off just as easily as it rose. very annoying. was hoping the rise was an indication of block 1 success but who knows. Still think alot hinges on block 1 and am holding out hope. I don't see much in the short to medium-term from any of the other stuff on our plate.
good example of why TA/charts don't apply to this stock.
edit: not meant for BD... accidental reply. just general comments on the SP action.