Moderators, this is a sticky post!

Strategy, how about a kids on the lips?

Lol.

You are right.

BUT WHY DID OFFOR NOT PARTICIPATE IN THE RIGHTS OFFERING????!!!!????

Only Offor can do that. He won't allow anybody else doing that. He IS the soul reason we are where we are!

The mofo did not participate in the rights offering!!!!

Ring ring...

And little Peter was blaming us for not participating enough, if I'm correct? Or was it Dan K?

Seek, you're sinking on my respect list. Either the 'man of the year' is a fake, or somebody else is...

You better produce some links to back up your statements, because I for sure can't take your assumptions serious.

The Doc.

Buy one share for $10,- so Offor can get his price...

:p

We only don't know that price? Why don't you ask Dan about those unknown terms? Shouldn't they be disclosed?

Tullow Oil PLC TLW, +0.75% had the worst performance as shares stumbled 7.8%, with speculation swirling that the fall in the oil producer’s market capitalization will cost Tullow its place on the FTSE 100.

“It looks like the 50% decline in the oil price is coming home to roost for Tullow Oil, after reporting its first loss in 15 years for 2014,” wrote Kathleen Brooks, research director, at Forex.com, in a Monday note. In February, Tullow said it swung to a yearly loss of $1.55 billion and that, for the first time, it would suspend its dividend.

Brooks said Tullow may be the smallest of the blue-chip index’s five energy companies, but the roughly 60% drop in its share price since last May has weighed on the sector and the FTSE 100, whose performance over the past 12 months has experienced sharp declines. The energy sector accounts for about 15% of the FTSE 100.

Hikma Pharmaceuticals PLC HIK, +0.73% was expected to take Tullow’s place in the FTSE 100, according to reports. Hikma shares rose 0.1% on Monday. A review of all FTSE indexes will run through March 6, and changes would be effective at the close on Friday, March 20, with trading to follow on March 23, FTSE said in a statement Friday.

Link please.

With links it WOULD indeed be strange that we disagree...

That wasn't Offor, that was one of us here, if I'm correct?

Do you have a link that can refresh my memory?

Do you have a link(s)?

I'm not convinced. But with proof I will change my believe immediately.

He could also use money for ERHC the same way he uses it for charity. Question was; why didn't/doesn't he?

So that is a non-argument of yours.

We are even undervalued by non-commercial numbers. Because of Chad, (MOU) EEZ, and a bit JDZ.

LOL2

And what are you trying to prove with that discovery?

Are you trying to forget that Offor is The Chrome Group, an international oil and gas conglomerate?

Person of the Year: The Sir Emeka Offor Foundation

Published on 23 February 2015.

http://www.sireofforfoundation.org/index.php/news-and-events/254-person-of-the-year-the-sir-emeka-offor-foundation

At the helm with the determination and drive that are only found in the most influential and successful leaders, Offor.

The Group has become one of the largest employers in Nigeria (...)


Some people here have very, very short memory spans.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111274976

Not only Deloitte does not fit into this scenario, Strategy also claimed rightfully that Offor could have bought more notes than just the $250K. Of course he can do that in the future, but that is a maybe, since Deloitte does not go along with an 'Offor-scenario'. So Offor risks the chance of ERHC not needing convertible notes anymore at a certain point in the near future. I can only guess as to what Deloitte comes up with, and when. Maybe even Shell is interested, l-o-l.

In that case the whole 'Offor wants all shares' scenario failes instantly.

So, all in all, mixed conclusions and uncertain scenarios, because it's very quiet in the Chrome and ERHC front.

Wouldn't you want to hear a view on the situation by our management team?

May I remind you guys that ERHC never disclosed any dissapointment in the direction of Chrome/Offor.

I guess they know very well, who is in charges here. They KNOW who decides over their salary, and whether or not to imply austerity measures upon them.

What I do find strange is that no article whatsoever has been published about the majority owner not participating to help out HIS OWN COMPANY.

No deliberations whatsoever anywhere. while it is certainly an interesting story, because it's about Offor, oil, Kenya, CEPSA, Chrome, Chad, etc.

Well, Seek.

Can you explain this away?

Quote:

You can't get the whole company for that share price. True value will be calculated by Deloitte, has been already.

Imo.

But if you are right, there is only one solution: buy, buy, buy now, as much as you can. On any new floor buy yourself a block.

Even further: I think he is the conductor of this whole music band.

I can't grasp why several folks here on this board think, assume that Offor does not want to see ERHC make it to 11A drilling and beyond...

Problem here is: the company, and also Chrome, seem to have no interest or incentive to tell the world what the plans are, why it is that .... and why it is that ...

They could have taken away some discomfort among shareholders, but it is a choice that they don't.

But the bottom line remains: of course Offor wants to make a hundred million dollars or more on ERHC.

Imagine: with glut oil depression mostly gone, and funding (by Offor, CEPSA or anybody else) in place, what would the share price be just before drilling?

50 cents? I think achievable. Then Offor is ready for selling the band imo. Would make him a nice profit after the JDZ failure.

Krombacher also makes the mistake that it could be that resource estimates dissapoint. I don't believe that, since CEPSA already decided to go to drilling, directly, without further 3D.

So estimates are at least commercial. And any commercial number for ERHC is 'gold'.

The Doc.

I supports CEPSA's $30.000.000,- drill.

Offor wants it all. Better go along with him.

Read my posts from a few days ago.

What you need to distill from this is:

You better start buying as much as you can, alongside Offor.

If the company has no value, then Offor would not be inclined to buy anything anymore.

Very good

Aren't they?

I've addressed it all. But you keep coming back, litteraly.

Well, if you are right. Smart move, but a sick move.

I can only advice you, buy up everyting you can, when new lows are reached.

Again and again, hit the switches.

You would almost think that Offor hates ERHC, right?

What a sadist.

Wouldn't you want to know what he is thinking right now?

I would.

I think Emeka likes little Pete.

ERHC is just a vehicle for Emeka to please Peter.

Emeka is a smart person, a man of the year.

He knows what is important. Little Petey is important to him.

:)

1% left, for $1,- ?

You are looking forward to it?

Tell me again what the incentive was for OFFOR to ride this investment of his into the ground?

To rip them Yanks a new one, he is willing to blow it all up?

Why isn't OFFOR demanding a salary cut?

Does he like little Peter over his own investments?

Meh.

Seek, man.

Offor donates millions to charity.

Broke people don't do that.

Strategyone,

Again Good post. But...

If Chrome just had participated in the rights offering, none of this would have happend.

I refer you back to my recent 'golden string' op posts about Offor.

For you maybe, not for Offor.

You have only one option at this point, as long as Deloitte does not come up with something.

Buy on the way down. It will cost you next to nothing, so you don't have to be as rich as Offor is.

At these prices you can buy your dilution Insurance for next to nothing.

Offor will not let the company go under.

Have you read my posts, by any chance?

It's all in there. I addressed it all.

Does it sink in Troy?

More important currently: we can conclude that Emeka Offor wants to give the impression to the investment community that he, himself, does not have positive feelings about 11A next year.......

He probably spends more on female company every year than he does on his company ERHC.

From today, a minute ago:

Doc,

We do not comment on speculation. ERHC is continuing to work to mature its oil exploration assets and is looking forward to drilling commencing in Kenya Block 11A during the first quarter of 2016.

Dan Keeney

Ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,ring,riiiiiiiinnnnngggggg....

2IRAs,

No, there is nothing else to worry about at this moment, other than the financial situation ERHC is in.

Forget about finding oil, oil glut, etc.

The very moment the funding problems are taken care of, as they should have been, a long time ago, you can make a killing.

All you need to do right now is, in my modest opinion, buy ERHC as much as you can, in blocks that is. The moment a new low has formed, buy. Time and time again. Price goes up, stop buying.

You can make a incredible killing on any serious funding announcement. Offor is throwing crumbs at ERHC just to keep them, ahd his own majority holding, barely alive. Without sending a signal to the market that he is the BACKSTOP.

This only applies if you are of the opinion ERHC is undervalued.

Read my posts please on the other board in that regard.

The Doc.

Indeed Condor.

Here is a interesting quote from SSC in this regard, posted by him last thursday:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111221447

His is hitting the nail on it's head without realizing it himself I think. He needs to read my recent posts including 298531 very carefully.

Your quote is indeed a good recapitulation:

I'm ripping you a new one. Enjoy?

My modest advice would be to buy in blocks any time a new floor has been made. The knife will cut both ways.

Do not buy on the way up, others will do that for us in a short while.

The Doc.

Person of the Year: The Sir Emeka Offor Foundation

Published on 23 February 2015.

http://www.sireofforfoundation.org/index.php/news-and-events/254-person-of-the-year-the-sir-emeka-offor-foundation



Billionaire businessman and Chairman of Chrome Group- a multi-billion dollar oil and gas conglomerate based in Abuja, Sir Emeka Offor on Tuesday donated the sum of $500, 000 USD to the victorious Super Eagles who just came back from South Africa after winning the nations most coveted football trophy.

And yet he only has a whopping $250K available for additional funding in a majority holding of his, struggling for funds currently.

Is there anybody here that needs additional proof of the fact that Emeka Offor deliberately is not taking away fear among outside investors regarding the funding problems of his own company?

Let me know.

The Doc.

https://oversabirepublic.wordpress.com/2013/02/13/sir-emeka-offor-donates-500-000-usd-to-eagles/

http://blog.bid-org.com/business-initiative-directions-leadership-series-sir-emeka-offor/

At the helm with the determination and drive that are only found in the most influential and successful leaders, Offor.

The Group has become one of the largest employers in Nigeria (...)

Did CEPSA's $30.000.000,- commitment to 11A finally (!) convince Offor to fund an additional 250K in the same project?

Or is he intentionally doing this...

According to ERHC specialists 11A could hold enormous amounts of oil.

Seek,

The Chrome Group is an international oil and gas conglomerate and if they have only 250K available for additional funding, as a longstanding major shareholder... then The Chrome Group is on the verge of falling apart. That I can tell you. They have revenues in the billions.

Offor is not strapped for cash. if addressed it all in great detail on the other board.

He donated millions and millions, while being strapped for cash?

Your opinion is so far out of touch with reality that... well I don't know.

2013: http://www.ventures-africa.com/2013/06/oil-magnate-emeka-offor-donates-1-25m-to-rotary-international/

2014: http://www.sireofforfoundation.org/index.php/news-and-events/254-person-of-the-year-the-sir-emeka-offor-foundation

Here is 'your strapped for cash' man.

Condor,

My last post before dinner. I running out of posts.

I've addressed this in the previous post. Every oil company, and Chrome is one, encounters dry holes. Chrome can handle that, TAIPAN and HDY not. So I don't understand that you think CHAD has anything to do with the Kenya area. Only link is ownership, ERHC is the same.


Again, you are playing with me. I don't like that. YOU told me why Offor is only funding 250K. I wrote an email to the CEO and posted it here, explaining that I knew WHY OFFOR is only funding 25K: TO RIP YOU A NEW ONE. He does not want to calm the other investors, he does not want to take away the biggest fundamental concern of the market: ERHC’s financial health.

Why do I need to explain this to you, when you spent numerous posts on this very same conclusion.

Condor, it stops here for me.



OFFOR IS THE CAUSE OF THIS PAPER LOSS. HE DID NOT FUND HIS OWN BABY.

Every expert in the field can tell you that 11A has NOTHING, nothing at all to do with BDS2008 in Chad. That line of thinking is certainly not followed by Offor.

That is why most smart companies go for the 'basket with eggs'.


No, but I can certainly imagine that YOU are fed up with ERHC. He has a different perspective on the situation, because he is already LOADED, and is not pissing his life away at Ihub.



What is new since 2006, when I bought ERHC for the first time, right before the raid? We are in the same line of business, STILL.

This is a bad quality post, condor. Sorry.

It's lunch time in the Netherlands now.

Remember, if you have the balls, buy like crazy, but only on the way down. Renew your floor as long as you can.

That would be my, modest, advice. The knife will cut both ways.

The Doc.

Aaarrrgggh,

Go back and read my posts please.

I addressed everything you mentioned.

I address the 'too much risk' factor IN GREAT DETAIL just few minutes ago, and explained that you are wrong, upfront. I proved it. Thanks to David Bovell, who got fired (partly) because of it, imo.

Now what do you want?



Sigh... don't play games with me.

I also confirmed, and you agreed, that OFFOR will not let ERHC go down.

Don't play games with me please.

"Over and over" is out of the question. Of course Offor will Always make, like everybody else in the business, a risk/reward analysis.

How much did CEPSA spend again?

CEPSA = the conservative ones.
OFFOR = the more risk taker type with ERHC.

THAT is why he is not funding, to rip you a new one. A large one.

Listen Condor,

The buck stops where the balls get weak. That has always been the case.

I did nothing else than follow your conclusions.

And now you are pulling back with all kinds of 'disclaimers'.

Read 298461 again, I've added some.

But let me give you some other kind of comforting thoughts.

Lets do some math:

Imagine: Offor is !@@#$ing up the share count to the authorized 3 Billion. that is approximately 4 times the original share count, right?

Now buy 4 times the amount of shares you had, pre-convertible notes/glut drama.

You need a VERY, VERY moderate amount of finance to achieve that, and you're back to your original undiluted holding. Like nothing ever has happened.

How does that sound? Offor tried to rip you one, but you were smart, and ripped him one.

They will not go beyond 3 billion I'm sure. IF AT ALL, THAT IS.

They will not make it to 2 is my guess.

The Doc.

So you mean to tell me that you don't have the balls?

That's were the buck stops.

But... I can answer your question nevertheless!

Two parts:

1. Another brainfart is: Chad is, in the opinion of some here, the better drilling option. I.E. more chance of succes than 11A.
Every single time it is also forgotten that OFFOR is the head of a company with revenues in the BILLIONS. He can wipe his wife's ass with $100,- bills, every single day of her life. Funding needed for 11A and Chad is worth his moderate investment. CEPSA laid a mandatory $30.000.000 on the table. If Offor has any doubts at any time, he just has to think C-E-P-S-A. Again, Chad same story. Chad will get drilled after glut oil is gone in, my guess, 6 to 12 months.

2. The incentive for Offor to try to monetize ERHC is high. Very high. And we know he is a risk taker. Some say he could have sold for several dollars, just on JDZ prospects. David Bovell uncovered that he was willing to take the JDZ-chance (north of $10,-)

Why? He already is FILTHY RICH. He can afford to be a risk taker. If the JDZ contained oil he would have been an ERHC-BILLIONAIRE.

Offor afraid of investing in oil exploration? Oil & Gas is their business.

And now he is funding ERHE with 250K...

Nigeria's most funny 'homevideo'?

It is discussed to the point that everybody get's it now what is going on.

I can only say to you: Start buying like crazy. OFFOR showed his cards, he is THE BACKSTOP, we thought we did not have.

Do you have the balls of titanium to follow your own advice?

I'm not ruling out that you could become a millionaire within just two weeks, at a certain point in the (very?) near future, months that is.

That is, if I follow your line of conclusion drawing. And I do.

Do you have the balls?

Start buying in parts, keep on buying on lower share prices, and stop buying immediately when the price goes up.

OFFOR is the BACKSTOP.

If this continues you can buy 30% of CEPSA's $30.000.000,- drilling endeavour for 5 grant. And you will get CHAD as a cherry on top. And some other goodies in the form of an EEZ MOU and the JDZ blocks. Bad bargain?

Even Buffet said he could never determine a bottom. He just kept buying all the way down, because he knew about the intrinsic value of a certain company, when others forgot about it!

His own words. I swear it. He said others forgot about it. Can you !@#$ believe it? I couldn't when I read that in "The Making of an American Capitalist".

If you believe for sure that ERHC is worth more than the current value of the stock... well...then you know what to do.

The Doc.

Condor,

You make the same mistake SSC makes.

That is part of being in the exploration business, and was also the case 10 years ago. So why do you bring this up now?

ERHC also still has Chad, unlike HDY, which had one egg, and next year the oil glut saga is gone. I posted links today on that topic.

But you also claim in your same post:



Now put your two quotes next to each other. Outcome: Offor will own almost 100% of N-O-T-H-I-N-G.

It does not work that way. You keep forgetting that ERHC has value, more than the CURRENT share price. More than the share price of one month ago. Etc.

Do you understand the implications of that?

At some point some entity will say, for me the share price does not have to go lower (hence even the convertible notes owners take comfort in taking just a moderate, guaranteed profit!) and provides ERHC with funding.

30 % of CEPSA drilling is worth serious $, believe it or not. TAIPAN hit 28 cents on the prospect drill of Badada. Some exited at that point.

14 Billion barrels of deepsea JDZ AIR were worth a L-O-T.

So stop talking Armageddon. Start buying... price will go up. You know it, I know it, everybody knows it.

Hitting a modest 5 cents, and you will make a KILLING.

SEO has become the BACKSTOP. The company cannot go down. Offor does not want that chance on 11A oil to go down the drain for pocketmoney.

Listen to your OWN advice. Start buying.

Now, not in a week.

No steel balls? Let me help: imagine if Deloitte has found funds, and it will be announced next Monday. What will happen to the 0.0029 share price?

Two things happen:

1. convertible drama INSTANTLY over.
2. No more converting at these prices but way higher, so lower amounts new shares.

Remember: financial funding problems are the MAIN reason why we are in the abyss.

The Doc.