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mz: To relinquish does not have to mean that they may not have been compensated for relinquishing control! They could fold and the party that takes over maybe purchasing their rights for the drilling expense they have incurred. A lot of factors can come into play as a reason for selling, Such as the capital requirement needed to bring this hydrocarbon play into service as well as the time that will elapse while waiting. This could be to much to bear for a small company. I also might add that a FREE Carry is not without risk as well. As long as the Major players move forward with the project, The carried player get dragged along. Should the Major player decide to stop, The carried player gets nothing. The announcement of phase two is a plus for the carried player and with no announcement thus the share price of the carried player languishes!
Have a Great day
Sneak
BB: Does the Skunk represent the BOD? What might you be hearing? How far out is the Fat Lady from the Stadium? Will the November Turkey (NSAI report) be overflowing with Giblets and Gravyyyyyyyyyy? (Oil)
Sneak
exceo: I Nominate "BB" to write the letter with You(exceo) the Chief Editor. Yep I'm back from a self imposed Time-Out! LOL.
The Wife told me to stop watching Glenn Beck and reading Middy's post. LOL
Hey Middy, nice call on HDY!
Have a Great Day!
Sneak
Exceo: I am sorry if you took offense to the term "Penny Bloggers".
It was not meant as an Insult. I would have to include myself in that term since a do own shares for 10 years and post here as well. This investment is all about the Hydrocarbons, Plain and Simple. The only hold back is the billions of dollars it will take to bring it to the surface and how much is in place to make it Economically Viable for the Partners Involved. We are all along for the Ride.
This is not an Oil Company, It is an Asset Holding Company, Management is a Charade. All of this we Know and should Understand.
This has been a long haul for me, The letter by Middy just Rubbed me the wrong way, No offense Middy, Just Bad Timing and your over bearing views on things. I may have felt different if a Season Sole like yourself would have written the Text of the Letter. In any event enough said, Please except My Apologies to You, Your and The Board!
Have a Great Day
Sneak
You guys are Legends in your own Minds. To think that a Group of penny stock bloggers can actually influence a Corporate BOD PR by simply issuing them a demand Letter is Laughable. SEO and SNP have now been Marginalize by a handful of penny stock bloggers that demand Info or an SEC investigation may ensue. Danny Boy and Company are shaking in their Shoe, I can here them now "Please, Please no more Letters".
If it makes you feel good that you think you are in the Catbird seat with your demand letter and this investment then by all means Assume Away!
I will say it again, The smaller fish with limited resources and (No Free Carry) will be fished out of this Pond before the larger small fish with a free carry gets caught! The contractual rule that dictate the events rules the DAY and not a Demand letter form a bunch of penny stock bloggers! If the Assets are there (JDZ & EEZ) the deal will be done and if not we will go the way of the other small fish free carry or no free carry.
Sneak
Relinquish, Pull-out, It is all the same! XOM pulled out. CVX Sold out and now Panoro. No monitary figure was given for the other Copmapies that Removed themself from the blocks.
Sneak
The only people Naive are the ones who truley believe the Latter. They had an Investment Presentation going on and old Danny Boy was asleep at the switch, He forgot to release the PR Letter to coinicide with the Investment Presentation. That letter was drafted long before the Investment Presentation was to take place. But what do I Know. That is my take on it.
So Go Ahead and Naive Away Oh Prideful Ones.
Sneak
Thanks Farrell90 More small fish are removed from the pond.
Sneak
Top: The PR had more to due with Danny Boy getting constant e-mails and phone call on the matter, The Letter was just coincidental, A Mere Happenstance. There was nothing new in the PR, Just more extended deadlines and empty promises of drilling releases. He tickled everyones ears and it worked. But hey, what do I know? Let us sit back and see Danny Boy's response. If the Letter was meant to embarrass the BOD after the Investment New Brief earlier, Middy should have put the letter out on Facebook for the world to see. In any event, I have been here for 10 years and I will believe it when I see it. I'm all ears Middy Please post away the Response!!
Have a Great Weekend
Still Holding
Sneak
He is doing Consulting work for Danny Boy! You Know, Whispering in his hear telling him to PR what the board wants to hear! LOL
Sneak
Middy: Please tell me when you here something, I'm all Ears!
Sneak
I would not put much faith in Good Old Danny Boy! His PR never pan out, Hell man he might just be Oily. His rebuttal of the "This side of $10 dollars" comment was a joke. I can not believe he would leaves his game of checkers, crossword puzzles and afternoon naps (zzzzzzzz) to waste more time trying to find out what Investment bloggers think of this Company. If this job does not work out for him, There maybe a job come open soon for White House press secretary. LOL
Sneak
Ya, Okay, Now that is Scary! ERHE spend all day watching an investment bloggers board to figure out the Corporate PR strategy. Ya!
Sneak
Middy: The letter is Inconclusive, Just like the drilling results.
The company's PR came out well before your letter ever got to it's destination. Please post any response you may get. If you do not get any response, Well one could conclude that you are getting treated just like ERHE'S management with request for Info from SNP about results.
Sneak
amj: I agree the letter is Moot. It will be as effective as a fart in a stiff wind, Nobody will even Notice!
Sneak
Dat: Great Post, When you started talking about the Wrinkle in the Green, I had to stop and think for a minute, Is he talking about the putting surface or the Wrinkled Green in SEO Suitcase? LOL
Thanks Caddy!
Sneak
Curious: But why would the Partners want to use this Info outside of the Area, "IF" the JDZ was a "DRYHOLE"? HMMMM
Sneak
Dat: Are you saying we get a "Mulligan" for Phase 1.
Sneak
The Pros and Cons of a Dual listed Company by Hunton & Williams.
http://www.hunton.com/files/tbl_s47Details%5CFileUpload265%5C2074%5CDual_Listing_Quigley.pdf
Sneak
db: AKPO was only about 150 million barrels when first drilled now look 650 million when Total drilled up the gas and condensate, If the same is true for Kina, She may have 1.9 billion barrels and ERHE'S cut could be 386, Who Knows? JMO
Sneak
Middy: Let us not put the cart before the horse. Revised PSC for the JDZ first. Resolution of JDZ blocks 5 & 6, Phase #2 starting date announced. Updated NSAI report, EEZ PSC signed and the AIM listing is the last thing I see taken place, They first would need 3 years of audited income statements form the business that they are going to list, Which they do not have. Unless they are going to use a piece of Chrome Energy or a small marginal Nigerian oil company to qualify?
Interesting Indeed
Sneak
Come on Updated NASI report, This should be Interesting.
Sneak
EW: It sounds like all the updated info to come is being bundled into a nice little package for other companies to ponder.
Sneak
The small fish are not gone yet. They are still in the game on paper. I would not consider ERHE to be a small fish.
Sneak
MZ: Come on Man, You are smart enough to figure it out. You post on this board I see.
Have a Great Day!
Sneak
Kownski: I do not think so, His Persona Non Grata does him in every time. I'll bet that the letter gets passed around the office of (2) and heads right for the Round File.
Sneak
em: I can see Middy with his head stuck in the mail drop trying to retrieve that letter! LOL Remember It is never as Good as they Claim and never as Bad as they Claim, It is always somewhere in the Middle. Sound Resaonable Lodgic Prevails Again! The small fish are being removed from the Pond so the Big Fish can be Caught!
Have a Great Night!
Sneak
Wow, Would you Look at that, A Stockholders update. Some here are Eating Crow!!
"Paranoia May Destroy Ya"
Sneak
Pete: It also has a nice dividend as well.
Sneak
My hat is off to you Middy! You brought out another ankle biter on yourself This Time. LOL
Sneak
Besides SNP, No one has a larger piece of the pie than ERHE. The smaller fish must be caught first before the largest independent fish can be caught at a higher price.
Sneak
BB: Thanks for Carrying Torch on an otherwise Dark Investment Journey! Your thought are always appreciated in the Sneak-Attack Camp.
Have a Great Day!
Sneak
Strass: The verbal jousting of ideas today have been Intriguing and Rewarding to say the least. Today's airing of personal viewpoints with you on this subject goes to show the board that a healthy discussion does not have to degrade into personal attacks and condescending remarks. I thanks you for your thoughtful input and your concerns.
Top of the Evening to you Strass.
Sneak
swood: People sell stock for a litany of personal reason, The least of which is the share price.
Sneak
Strass: The assumption by most on this board is that they have Info that is material in nature to drilling results. They found hydrocarbons, Big Deal, The quantitative nature of those Hydrocarbons is the million dollars question. One can ponder those numbers, but unless more drilling takes place, One would do better to rely on the NSAI numbers. Phase #2 drilling is a small drop in the bucket when compared to the Developmental cost of going into the production phase, Such an endeavor does take some time to Orchestrate. Would the board feel better if they had given results that simply stated that they had found hydrocarbons in all three blocks and the nature of those studies are inconclusive thus phase 2 drilling will start in the summer of 2011 and after that duration and more study time and then they announce phase 3 drilling in the spring of 2012 with results coming months after that. The financial cost for production development will be in the billions with construction to begin in maybe 2014. So hence if consolidation talks are underway for development purposes, I will wait for years end to see where that takes this investment. This investment is a lot closer to finish line than it was 10 years ago.
Sneak
Strass: Consolidation is taken shape. (JMO) One has to catch all the smaller fish before your odds increase on catching the Big Fish.
One must also admit, The Pond (JDZ) was Crowded when the fishing began.
Have a Great Day!
Sneak
Let us keep an EYE on the Ball People. @ $8.00 a barrel for proven reserves, ERHE should gets a $1.09** a share for every 100 million barrels of Proven.
Sneak
** Assuming 730 million shares outstanding.
Jim: I give thanks to you and yours for the Level Headed Vision! Very Well Said Indeed!
Have a Great Day!
Sneak
Strass: You must have missed the Meaning of my response. No one here is running from the battle (Military Minded Man)LOL. Just the do not worry about things you can not control. If firing off letters to the proper authorities works for you and others, by all means Have at it Take, Hell man take Two Helpings.
When the BOD gets the Letter they are going to look like a One Eyed Mule Peaking Through a New Gate. What the Hell is This! And continue on like nothing has happened. Well maybe PN will say to shareholders Again We heard you loud an clear and still do nothing, just like the political Pawn he is.
Sneak
Seek: Nice factual statement from Afren. However some here "Seek the Darkness" only to believe that a Grand Conspiracy is underway to make off with their shares. Please be careful Board! As the song goes "Paranoia May Destroy Ya"!
Sneak