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One more good ERHC article I found online:
https://www.theguardian.com/guardianweekly/story/0,12674,1333848,00.html
An excerpt from this article:
....in 1997 an unknown, Houston-based Nigerian company called ERHC, which had never drilled a barrel of oil, offered just $5m for ? and got ? exclusive exploration rights to all Sao Tome's waters. It was described as one of the best ? or worst ? deals in history, and the World Bank declared it unfair. But no money was paid and the deal looked set to fall apart until Sir Emeka Offor, a Nigerian businessman closely associated with the late Nigerian dictator Sami Abacha, bought ERHC, renamed it Chrome, brought in ExxonMobil, involved the Nigerian government and proposed a new agreement in return for lucrative concession rights. When Exxon struck oil, Chrome/ERHC became worth about $600m overnight. Nigeria then disputed Sao Tome's territorial limits. Fearing it would lose everything, desperate for cash, the then president caved in and agreed a 60:40 split in Nigeria's favour...
My valuation assumption was based on this document:
http://www.erhc.com/media/files/None/ERHC-Chad-Flyer-v4.pdf
ERHC Energy Inc (ERHC) is a Houston-based independent oil and gas company, incorporated in Colorado, USA, with a
market capitalisation of ~$105 mm (August 2011). ERHC is focused on growth through high impact exploration in
Africa and the development of undeveloped and marginal oil and gas fields.
EHRC has a wealth of African experience, with a management and board connected with the region, significant
investment by African business interests, assets elsewhere in the continent and a track record of getting things done.
The Republic of Chad is a significant oil producer in sub-Saharan Africa, with proven oil reserves of 1.5 BBO,
undeveloped discoveries of 2.6 BBO and 14.6 TCF gas, along with substantial untapped exploration potential. Chad
shares borders with Nigeria and Libya, Africa’s largest oil and gas producers, along with Cameroon and Sudan, which
also produce oil. Oil production in Chad started in 2003, with current production at 122,500 BOPD.
I understand OTC is nothing but a gamble. It's always good to trade OTC and invest big boards. I'm new here and my buying average is just under .0017 so I'm pretty much even at this point in terms of PPS. I think this stock should be trading much higher than the current level IMO
Yes, it's surprising. ERHC is worth over 100 M and PPS is at this level.
Just hit .0014 and it's only partially filled. Looks like turn around time..ERHE
I own 4.25 mln shares now. I hope it works out for everyone here.
ERHE
Hmmm...Thanks. As soon as they are done it should be in pennies.
It looks like someone wants to keep the SP down. I was slaping the ask at .0022, .002 and .0018. They partially filled me at .0018 and then it went to .002. Now someone closed it at .0018 although my order was not filled. The same thing happened yesterday when someone painted a closing at .002 when I hit the ask at .0022
Found the Link:
http://www.oilnewskenya.com/erhc-reports-oil-gas-shows-at-kenyas-tarach-1-well/
Go ERHE
There was a good news after a long time but did not get picked up by major websites due to wrong stock symbol used in the press release i.e. ERHED in place of ERHE. Good buying opportunity at this level IMO
Calm before storm. It's matter of time ERHE...
Check out ERHE
Nice job. Go ERHE
Need more eyes here and it will explode IMO
Yes, but it was published correctly on the ERHE website news section:
ERHC ENERGY INC. ISSUES NOVEMBER 2016 SHAREHOLDER UPDATE
HOUSTON, November 14, 2016 – ERHC Energy Inc. (OTCMKTS:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today issued the following update on Company activities.
1. Kenya Block 11A
a. ERHC’s preliminary analysis of the Tarach-1 drilling results reveals encouraging information for further exploration.
b. The objective of the well was to establish a working petroleum system and test a three-way structural closure trapping against a North-South trending normal fault.
c. The Tarach-1 well encountered two different hydrocarbon charged intervals, the first extending over 100 meters.
d. The significant oil shows and highly-elevated gas readings encountered by the well indicate the presence of a working petroleum system with the strong possibility of significant hydrocarbon generation.
e. As previously advised, the Tarach-1 well was always designed as an exploratory well. It has been plugged following conclusion of drilling. Post-well analysis continues.
f. ERHC holds a 35% interest in Block 11A.
2. Chad Block BDS 2008
a. ERHC continues to talk with potential farm-in partners.
b. The next stage of exploration is a seismic survey on ERHC’s two focus areas. ERHC is exploring, as one of its funding options, the possibility of a right-to-earn partnership in exchange for seismic services.
c. Based on the result of an aero-magnetic and gravity survey that ERHC completed over the Block, total Petroleum Initially in Place (PIIP) for one of ERHC's two focus areas has been estimated at 278 million barrels (with a high case of 876 million barrels).
d. ERHC holds a 100 percent interest in BDS 2008.
3. São Tomé and Príncipe Exclusive Economic Zone (EEZ)
a. ERHC has concluded negotiation of the terms of a Production Sharing Contract with the National Petroleum Agency of São Tomé and Principe (ANP-STP).
b. ERHC is currently in discussions with potential farm in partners.
c. ERHC holds a 100 percent interest in EEZ Block 4.
4. Nigeria - São Tomé and Príncipe Joint Development Zone (JDZ)
a. The Nigeria - São Tomé and Príncipe Joint Development Authority (JDA) continues to engage with the remaining JDZ contracting parties, including ERHC, on the way forward for further exploration.
b. A five-well exploration campaign in JDZ Blocks 2, 3 and 4 (in which ERHC holds significant interests) failed to discover hydrocarbons in commercial quantities but yielded invaluable information that will guide future exploration.
5. Other Business Activities:
a. In the light of the current oil price environment and continued constraints on funding for oil exploration activities, ERHC’s management and board are working toward a strategic realignment of the Company.
b. ERHC has also received and continues to consider exploratory enquiries about mergers and acquisitions, new strategic investments and other arrangements.
c. In response to current economic conditions, ERHC continues to reduce costs across board. Investor relations and outreach has been affected but ERHC will endeavor to keep satisfying any mandatory regulatory requirements for disclosure, particularly to shareholders as whole.
ERHC encourages shareholders and others to refer to quarterly and annual filings with the SEC, which can be found at http://erhc.com/secfilings/.
We thank you for your continued interest in ERHC.
Check out ERHE.
Good news regarding ERHC Energy ERHE. Check out :)
Wow...ERHE :)
Okay. I hope you're right :)
Wrong. CDEL is not done selling yet.
Is there any news? Why it ran?
You can buy a calling card to call anywhere in the world that costs around 1C/min
Golden- have you confirmed with the university. Also, why we are not getting any details on Rubicon?
This guy is playing with everyone lol That's not the one. Try this one https://m.facebook.com/brent.africa
Thanks. Do you have any idea why they not giving any proof regarding Rubicon?
What is PPTA?
Yes, until they show some proof on Rubicon, the whole thing is not clear. I'm still invested here and not sure if it's a good thing or not :(
So you think he is someone fake but I saw his FB and Linkedin profile and he seems a real person.
How this stock dropped from .0027 to .0017 on 10 mln vol any idea?
What is the pupose of your existence on this board? At least they made money and moved on but you are still here :)
Okay. Come back in 2020 ;)
Are you saying it's fake. I checked LinkedIn profile and it apprears real.
https://za.linkedin.com/in/brent-africa-2b793a51
Brent Africa
Utilities Director: University of Johannesburg
Johannesburg Area, South AfricaHigher Education
Current
University of Johannesburg
Previous
AVI Limited, SABMiller
Education
University of Johannesburg
So quiet here...
Thanks Sterling. I wanted to clarify as I burned before big time with MDCN.
What about 20 mln debt as per the sticky? Any thoughts.
It's not random. I read on this board that the same people' who were involved with MDCN are managing this company as well.
Is this stock any better than MDCN? Why did they have 1:100 reverse split in 2015??
If no one is buying then where do you think the shares are going?
Keeping my fingers crossed :)
MJTK