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*BREAKING* NEWS
The last time I asked about the share count was June 2, and it was still unchanged.
I asked again yesterday:
"I'm very sorry but our instructions from the company are very explicit and we cannot give it out."
Then I contacted Daniel Bell, the vice president:
"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."
So, now it is indeed 'gagged' by the !@#$%. And why? For what reason? I have no clue, since it is known that we are between 2.6 and 3 billion shares.
And Dan Keeney told me earlier that:
"I can’t speculate and don’t know all the specific requirements, so I will look into this. The bylaws of the company indicate the number of shares it is authorized to issue, and in the past the company has secured shareholder approval for amending the bylaws. While I would presume that getting a quorum and securing approval from of a majority of voting shares is a requirement for any further change of the bylaws going forward, I am not an expert in such matters.
A vote is a fairly time consuming process. In my experience, it has taken at least 45 to 60 days to pull off.
If you are interested, the bylaws are downloadable at this link: www.sos.state.co.us/biz/ViewImageAttachment.do?fileId=20091627500&attachment=1&attach
Daniel Keeney, APR
DPK Public Relations
214.432.7556 (DFW)
832.467.2904 (Houston)
Web: www.dpkpr.com
Blog: www.danielkeeney.com
Twitter: @dpkpr
I'm beginning to lean towards Troy's view on Peter Ntephe, a man that is almost breaking the law?
Or are we overreacting? I think we are just 'reacting' to all the 'secretive' BS. Peter should understand this, one would reckon, right? Or is he instructed by big share holders to be secretive all the time, even when it is in vain and/or useless?
And remember the talk Krombacher had with Sylvan... embarrassing.
The Doc.
Krom, Troy,
Check your email.
The Doc.
Low Oil Price Challenge met with American Ingenuity
http://oil-price.net/en/articles/low-oil-price-met-with-american-ingenuity.php
Ingenuity my azz... :)
http://erhc.com/photos/set/23/
In which basin would you like to swim?
Strategy,
How about that massive cost cutting? How much % did they cut?
What exactly did you find in the 10Q regarding this cut in expenses?
I would love to see anything about their current salaries.
From a week ago:
Hi Doc,
I can’t speculate and don’t know all the specific requirements, so I will look into this. The bylaws of the company indicate the number of shares it is authorized to issue, and in the past the company has secured shareholder approval for amending the bylaws. While I would presume that getting a quorum and securing approval from of a majority of voting shares is a requirement for any further change of the bylaws going forward, I am not an expert in such matters.
A vote is a fairly time consuming process. In my experience, it has taken at least 45 to 60 days to pull off.
If you are interested, the bylaws are downloadable at this link:
www.sos.state.co.us/biz/ViewImageAttachment.do?fileId=20091627500&attachment=1&attach
Daniel Keeney, APR
DPK Public Relations
This has been discussed in great depth, you better accept.
Peter, Sylvan and SEO now all have a higher percentage of the company than ever before.
Your constant suggestion that all will stay the same forever, is not a wise strategy.
If it were, you would have left the scene some time ago. As a matter of fact: a LONG time ago. I Judge people by their actions, I also Judge you on your actions.
And the only action I see is you having a continued high interest in ERHC.
Only problem is: other posters/investors are an important part of your strategy.
That is why Strategy is cool, calm, in his posts, and others are not.
Ethics.
I 'think' you have been loading up the boat like a insane.
Remember, if Peter and Sylvan had the same opinion, they would have waited some more.
They are in higher standing with me, than you are.
Now what is it with Strategy's story that their will be less conversion going on over the coming months?
A pretty amount still has to be converted, right, although we do not know how much exactly.
And how much time do they have to convert?
As of yesterday another $53.500 will come eligible for conversion I see. So we can expect a lot of new shares again being isued as of tommorrow...?
Quote:
You said:
Is that $808K number correct?
Does that include the september notes, and how much is that?
Could they have produced new convertible notes after March 31?
I don't know who is buying but I still think it is too early for new blood.
How about the convertibles that are still coming?
I don't think this MOU is going to be the trend breaker long term.
Beware I would say.
EEZ is ok, but this specific MOU... I don't know.
Volume is low, 33 million is $100K at .0031
We need more long term. Convertibles gone, Glut oil bettter situation etc.
The Doc.
P.S. If Peter and Sylvan would sell, do they need to file that also?
I asked Dan a question about the Chrome Convertible Notes specifics, and why they where not disclosed in the 10Q.
I paid Dan $0.50 for this question, since he is not getting paid anymore by ERHC. :P
Doc,
ERHC Energy relies on a highly capable team of experts who guide the Company’s compliance activities. Additionally, the Company (as is common with most publicly held companies) regularly seeks the guidance of the U.S. Securities and Exchange Commission to ensure it satisfies the many regulations governing disclosure. So I can’t respond to the specifics of why one piece of information or another were or were not disclosed, but I can say that ERHC complies with all applicable regulations regarding disclosure. In the event that it is determined that disclosing additional pieces of information is necessary, based on the guidance of its experts in such matters or on the guidance of the SEC, the Company will do so.
I have said this a long time ago. Some naysayers always claim that Peter is omitting things in his own believes... this is sheer BS.
Good to have this confirmation again.
Does leave the question why they did not disclose the Chrome CN deal, but it seems to be legal for sure, not to do so.
The Doc.
TAMTAM, regarding your question about the "the right of first refusal":
http://en.wikipedia.org/wiki/Right_of_first_refusal
It seems to be a real contract between parties, since you also have a "Right of First Offer"...
When the MOU expires the exclusivity of negotiations is gone, not the possibility to negotiate further, of course.
But one would say, why would there be a need for exclusivity in negotiations these glut oil days? This is even off shore...
Well, it seems that there was/is a valid reason for a MOU?
I know what you mean, a reverse of the self inflicted convertible drama could happen.
But for that to really continue to push us higher, there must come some 'news' from the company.
The MOU is the first in line now, very likely.
But just imagine if the MOU does not deliver, people get 'depressed' all over again, and KABOOM back down...
I would like to see some buy in, or anything from Deloitte. Or another CN from Offor. Yes, because at these prices dilution is not a problem in the literal sense.
Even if we dilute to 10 times (7 billion shares), still no real problem, since the share prices is 300 times lower than it was (at .0005 that is) on the KENYA announcement.
I would love to hear a statement from Chrome that they will back up ERHC no matter what (despite the fact that this is very logical for them to do).
Just imagine, at a share price of 0.0016 and a dilution factor of 10, the share price still is 0.016 without any dilution... wow.
Still incredible upside potential, even without finding oil.
The Doc.
Volume was low last week:
http://ih.advfn.com/p.php?pid=webchart&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=USOTC%3AERHE&s_ok=Get+Chart&period=1&drawmode=0&size=19&volume=1
I'm simply baffled at the different tune everybody seems to be singing right now. Even Troy sings Hallelujah in his own careful way... :)
In effect nothing has changed, regarding the funding and oustanding shares nearing the 3 billion mark.
It does feel good to see all that green, but beware, fundamentally nothing has really changed. All that good stuff still has to happen.
Just being realistic. First all the convertibles need to be out of the way, then the funding issue resolved, and then we are in substantially different waters.
The Doc.
I know, but for that not to happen the shareprice must rise significantly... how much?
And again, what did I miss about a MOU rumour from somebody?
What do you think of this quote:
Does anybody have a link?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=114082845
I noticed that if a share price rises, people start te get more and more positive.
The Stock market is a strange world, with herds of sheep.
On the other side, a real 'rumor' is a valid reason for a share increase, only thing is: did we get a real rumour regarding the MOU, in the sense that we didn't have that 'insight' in regards to the MOU let's say a month ago?
Regarding the EEZ:
"The first test well in the Exclusive Economic Zone of São Tomé and Príncipe tis expected to be drilled in 2017, according to recent statements from the coordinator of the National Oil Agency, Orlando Pontes.
This well is likely to be drilled by British company Equator Exploration, currently engaged in 3D seismic studies to determine the potential of Block 5, located about 70 miles off the coast of the island of Príncipe.
Equator Exploration’s main shareholder (94.6 percent of the share capital) is Oando Netherlands Holdings 1 Coöperatief UA, incorporated in the Netherlands, which in turn is 100 percent owned by Canada’s Oando Energy Resources group.(macauhub/ST)"
Well, that MOU of us could lead indeed to something, one would normally assume, since there is indeed serious interest in the EEZ.
I'm not aware that, like in the JDZ, block 1 is the most (or only) block that seems prospective enough...
The Doc.
http://www.macauhub.com.mo/en/2015/05/21/oil-company-to-prospect-for-oil-in-nigeriasao-tome-and-principe-joint-area/
An example of a false argument posted by someone:
IF a R/S should be neccessary, how long would it take from announcement to approval by shareholders?
Weeks, months?
Shouln't we have heard something about that, since we are at 2.6 billion shares now...
Even if Offor converted, question is, will it be enough to avoid a R/S?
I mean, those clowns (lol) at ERHC should have a clear look on how things are going to evolve, cost cutting, etc.
Because I am THE DOCTOR...
And from the Netherlands(?).
Strange indeed. But it does show that this is not a everyday scenario for the T/A.
In the end, it does not matter that much. 3 billion shares is a dilution factor of 4.3
Even if they go (God forbid) to a factor of 10 times, it's childplay to catch up with that.
They do need to survive, that is all. And more severe cost cutting is a good option also.
If we take the conservative 15 cents (Kenya announcement without drilling commitment) the share price has fallen with a factor of 300... versus the 4.3 dilution factor.
He did not know, other than the 31/3 number.
That seems to be Obvious. I think that most has been converted now, with 2.6 billion out.
What are your thoughts, Strategy?