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.
So who do you think sold those shares? Remember, every buy has a sell.
If those shares were sold by a MM, wouldn't that mean we are going to go down in price soon? The MM would want to cover those shares at a profit. We can make a reasonable assumption that he didn't purchase those shares at a lower price, at least not recently.
I won't add Steven until $.30ish. And I will sell those on first pop.
Wasn't me. I'll die with Steven in my portfolio. Yes, you can take that literally.
At least until Offor sticks it in my arse again.
That certainly has happened in the past. I hope he doesn't have the guts to do it again though, not if he is serious about turning ERHE into anything important. At $.35 per share, it seems apparent that the general market isn't convinced of his sincerity yet, or of his ability to pull it off.
The downside to this investment gets smaller every day. Unfortunately for many of us, so are the gains.
I'm hoping the inquiries into the awards goes away soon and we get PSCs and JOAs announced and DISCLOSED so we can see what the heck we actually have here, and begin talking about FACTS again, instead of hopes.
Aliceb - Procon and Art have reported that we are being carried to first oil so there is no longer any fear of paying our signature bonus money. It's a done deal. Check the ERHE website for the press release.
Art - Did I miss the ERHE press release where they stated that we will be carried to first oil by our partners?
In our courts, defendants are innocent until proven guilty. In legal negotiations, nothing exists until it is written and signed.
Be careful. While it is highly likely that your scenario plays out, accepting it as a fact until proven as such is dangerous. No need to distort the facts here.
The next share Offor gets for under $.20 will be the last time he does it while I am a shareholder.
And a wise choice, in my opinion, to get out while possible. That one is getting quite a stench attached to it.
Sounds probable to me!! I'm not much of a player outside of Vegas though. Good luck with that!
Time to step away and turn on the TV and talk to my old pal...
Steven has proved to be quite the PITA. No doubt about that! Give me a run so I can unload some - please!
My order for AMY at $.0061 got dropped by Ameritrade. I guess it was out there too long, so I didn't catch any shares yesterday. I think I need to pay more attention to my stocks.....
What to do. I'm think I need a long weekend with an old friend - Jack Daniels. Ever meet him?
With Ihub limiting the amount of posts per day, some just wouldn't want to be here anyway. You know how that goes.
My schedule has been awful lately, and will continue that way for another month or so. Man, I need a break - a winning lotto ticket or something. Life has been too much work lately!!
Sorry to hear that news DQ. I will go over there and post now, and rec to them that they consier dropping in over here once in a while.
Balance
The part about that report from Barry Morgan that stands out to me is the last part you wrote:
"Blocks 2 & 3 are said to have been decided in favour of priority rights holder ERHC Energy and its US partners Pioneer Natural Resources and Devon Energy, leaving Block 4 as the only other key licence undecided."
With Anadarko eventually being given block 3, why woudln't XOM have just taken their 25% in block 3 and worked with APC? Was the problem that XOM didn't think block 3 worthy of its time and money (not having much potential), simply not like working with ERHE, or its need to throw a hissy fit over not being able to get part of block 4 (which is what they wanted)? The 25% option was always there for XOM in block 4. Why didn't they take it? They wanted to be operator, and Noble/ERHE wasn't gonna let it happen.
Of course, as Barry pointed out, XOM failed to bid in ANY blocks, really causing their own problems with the JDZ awards. Didn't everyone have to listen to the same whines in block 1, which eventually went to CVX??? These are the strong-arm tactics that I referred to in a different post, my comments about them being a bully (and exactly the kind that wouldn't require stomping on our stock price as retribution, Art). Their attempts to influence the outcome of the awards without playing by the WRITTEN rules was intentional and arrogant. It appears to me that the JMC simply couldn't let XOM get their way in the JDZ, knowing full well that rules were going to have to be broken to allow XOM an operatorship. Perhaps moving us into operatorship positions in 2 and 4 DIDN'T break rules by allowing us to match bids, which would be great, but as yet undetermined in public print. If Barry was correct about the block 3 award initially earmarked for PXD/DVN/ERHE, then the JMC threw a bone to APC anyway, at the expense of PXD/DVN. PERHAPS Nigeria/STP allowed for some love down the road to PXD in return for that little move, or maybe there was considerable leeway and power allowed the JMC in making operational decisions, but not enough to allow XOM in that position.
No, it was Noble saying that would happen in block 4, the reported reason Noble edged out Anadarko for the block (AND Noble/ERHE matching the original bid amount of APC), and one of the apparent reasons for the current inquiries as to the JDZ awards.
Yes, I see the potential effect on credit. That is an obvious impact of any low share price. But consider that XOM or any other company could have taken ERHE out of the market years ago with an acquisition. Why would they (in this case XOM) choose to do it now at 40 times the cost, assuming $.40 as the price? This is not a rational reason for believing XOM would put their company in danger by manipulating a penny stock. Can you imagine the impact on their international credibility if they (XOM) were exposed as stock manipulators? Get serious!! It simply doesn't have any weight when risk/reward is calculated for XOM.
Also, consider the amount of cash we need to remain viable as a company. Certainly we could get that from PXD in loan form or via preferred shares if necessary, wspwcially since PXD appears to be riding our coattails into the JDZ.
Too many conspiracy theories and no direct evidence. I'm sorry - I can't buy into XOM as the dirty rotten manipulator. I can't stand them and their bully tactics, but the cost would be too great should they be found to be trying to hurt little-old us.
However, I do agree that there is something fishy with the price and its apparent affection for the $.40 mark. The obvious question is what else is connected to $.40 and the answer is FAB. But there is no direct evidence that anything is wrong there either.
Perhaps someday we will know what is going on. Unfortunately, I am now getting closer to being part of the group that thinks this thing smells from the inside out.
I remember listening to everyone brag about having XOM involved in the JDZ and how that lends credibility to the region. I also remember harping about how I disliked XOM for their hardball tactics, and the general response from people was that it was all a charade, a game being played out by us and XOM so that we could secretly cut deals in the DRSTP EEZ with them, or allow them to work our blocks in the JDZ. My opinion remains the same as 2 years ago - XOM is nothing but a bunch of thugs.
Now the boards think they (XOM) are all things evil!! Are you sure it still isn't a charade?
Could someone please explain to me what XOM or any other company would have to gain by "manipulating" ERHE's share price on a daily basis?
Revenge is a human instinct, not a corporate one, least of all the largest public corporation in the world. Short of a buyout of ERHE by XOM, I cannot think of a very sound reason for XOM to want to expend any energy manipulating out stock price.
You touched on a lot of truths (as I see them) in your post.
First - ERHE has not been held accountable to anyone about anything (for the most part) for years. The previous arrangements with Chrome and the way shares have been passed to Offor has been almost criminal in my opinion. I don't know how so many people could have been reading the same SEC filings and not have felt that way. I hoped that the changes late last year and earlier this year were in preparation for cleaning the company and getting us ready for the big time. It doesn't appear that way right now, but perhaps the road has been more difficult to travel than expected, and the new pavement will be found in a month or so. I'm skeptical about it, for sure.
Second - The clearing of debt was a major kick in the arse of this shareholder, and bothers me even to this day. The concept was good, but the process was nearly criminal, again. Shares at $.175 was a major insult to me, and I again was amazed by the forgiving nature of shareholders. I sometimes get more concerned about my investment here based on the reaction of others to obviously blatant abuses by ERHE.
Third - We really have no clue where this company is going. The company has told us nothing that makes much sense, given the financial situation we are in. Combine that with the current share counts, and it is probably ugly down the road.
But my major concern now is that we can't seem to escape two things - the imagine of being involved with dirty politics in a dirty part of the world, and the obvious games being played on our price while the company remains silent about everything.
I know my views are not popular ones, but my money is invested by me for me, not by others for others. I refuse to invest here being blinded by optimism that obviously is not shared by the general investing community.
Best of luck to us all. Just keep your eyes open.
Oh sure you didn't. You just HAD to beat me to the shares!!! At least I know you will take good care of them for me.
Adoozer is a bad situation. The S8 has been mentioned earlier and it probably is the most recent of problems. That company now appears to be running a ring with a couple of other companies involved with Gavin's firm. Be very careful there - get out when you can with what you can. That is my opinion. I completely expect that to unravel badly in the not so distant future, but hopefully will give an exit opportunity first. Just my opinion.......
Was a great Homeland Security play initially, but since has changed focus too many times to recall the entire story.....
Hey man - I'm in line for more of Amy as I write this. Today may be my day.
I agree. L2 looks like an easy run when a buyer steps up. Hopefully that happens sooner rather than later.
I'm kind of surprised, with the low OS count relative to stocks at this price, that nobody ever tries to pump and dump this thing.
Yes, but there is a little problem of debt that needs to be addressed shortly. I suspect it is getting worked on right now, and will be a non-factor goign forward. The company has certainly gotten its act together in the past 18 months and will be turning the corner soon.
I will continue to accumulate, certain that there is a sunny day coming.
And we need to get rid of the seller.
I have plenty, but if a seller comes along I will be getting more. Eventually this thing will have its price righted, and I don't want to miss it.
Good day Mr. Quaid. Nice to see a new board around here that should grow up with a large amount of success, considering the unknown company of Amelia.
Thanks for taking the time. Let's make this a fun and prosperous place!
It's about the DRSTP EEZ. When we get our blocks, then everyone knows the potential of most of our assets. Before the EEZ would be unlikely, and not very prudent.
You think that those black candles are accidents, or by design?!!
It has been, and remains so, my belief that any capital raised by the company would come via the preferred shares. Hopefully if we need money we can get an LOC by secured means rather than issueing shares, especially going the preferred method. We should know shortly (3-6 months). If the words written in the recent statement by our company are any indication, we will be needing some form of money - cash or credit - soon. Perhaps a buy-in could be used to also raise funds, but I don't think PXD would want to go that route. For me, financing (or however we secure our financial future) is the key to the longer term play here.
IN the last 10-Q:
SHAREHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.0001 par value; authorized
10,000,000; none issued and outstanding -- --
Common stock, $0.0001 par value; 950,000,000
authorized shares; 709,690,073 and 599,952,982
issued and outstanding at June 30, 2005 and
September 30, 2004, respectively 70,969 59,996
Additional paid-in capital 83,102,561 59,505,459
Accumulated deficit (76,303,288) (68,137,233)
Deferred compensation (340,887) (456,874)
------------ ------------
Total shareholders' equity (deficit) 6,529,355 (9,028,652)
------------ ------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY (DEFICIT) $ 7,228,420 $ 5,728,556
============ ============
No. Not correct at all. We had no rights in the NEEZ. And with no cash, we had no reason to be bidding in the NEEZ, despite the hopes and prayers of some here.
As for Offor utilizing assets from ERHE to pay for Chrome's bid(s)- if he does (and I don't believe for a moment he will) he will have a big problem. But I can certainly see why YOU would want to talk about it.