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frankie, ever get the feeling you're talking to yourself?
They brought these guys on to do the secondary public offering along with the pr firm. They have to generate new interest to sell the secondary for 20 mil. After the secondary is done they WILL reverse split within a couple of months after to reduce the rediculas amount of shares that the first deal made.
This is for the best in the long run. They need to position themselves for a positive sp future and be able to raise cash with offerings. It cannot happen the way it is now.
IMO the Secondary deal will come shortly after the share holder meeting next month. Depending on how many shares they issue for the secondary to raise the 20 mil will determine the reverse split ratio.. IMO it probably be 1-30 or 1-40...
Good luck in your investing
My contacts in my gut say no volume no news..
Also, hard to believe that buy-out talks, dividend talks , etc. are taking place (so people say) and there are NO leaks, no buyers(other than this board in and out) no interest, no rumors (other than this board)... I've been investing for 30 years and know that noone can keep their mouth shut when there is good news.
But when the news is average and will have little effect on the sp we get this behavior...and generally this is the case..I hope we don't get disappointed (which I have a feeling we will) because we are expecting a lot and we're trying to justify our investment, which is normal human behavior..
I think if we just get a Phase 2 committment that would great at this point. That's what I'm expecting....and looking forward to.
I believe they have until May to do this. But I think we will get all of this information closer to the share holder meeting at the end of April... Like I said before, I hope I'm wrong...
Mark, anything?
snore, anytime now...
still leaning 2 no news til shareholder meeting time. April 26th or so.., GOD I hope I'm wrong.
Thanks red, makes a lot of sense..doesn't idcc
snaek, when we find out what Total pays for Chevron, that will put a market value on the rest of the blks, correct.
Thanks sneak
Anyone know what Total is willing to pay Chevron for blk 1.
Nope not today
If oily is calling for news after the bell on a Friday, I'll bet there will not be any tonight for sure..
Maybe Monday morning before the bell.
If news is coming we should see a nice last hour of business.
> 500,000 shares in that last hour would be a tell tale.
kobiashi, Days not over yet.
MARK, what are your thoughts on the very very low volume we are having yet great news is coming out soon!!! Normally volume kicks up right before...we're not seeing it.
Thanks Mark, I'M LOADING UP TODAY!!!
Have a question about proxies.
Anyone know can a shareholder with restricted stock still cast votes.
After reviewing all of the news, posts etc. in the last couple weeks, it seems IMO, that SEO isn't going anywhere at this point. I think the full value hasn't been established for ERHE and noone at this point is going to give SEO what he wants for his shares($10/sh).
Until Phase two of JDZ is completed and 3d seismic completed in the EEZ (at which point they can probably have a better idea of what's down there learning from the JDZ experience) I don't think SNP, Total are willing to part with this much cash. Not now, they have time on there side. ERHE needs cash at some point to keep on trucking. That's what the marginal fields are all about. They should get a nice chunk of change for the EEZ blocks, this is why nothing has been done with the marginal field deal, hopefully they don't give up too much, I dought if SEO will give away the farm..all of this is months in the making, not weeks or days...IMO I think that we will be lucky to get full drill results before the annual meeting. The PR will be vague with a slighly positive spin that will be spun by all on this board.
To the board. Is it possible that if ERHE could secure an operator for the EEZ start drilling BEFORE the end of the auction?
News April 23 or 26th IMO
sometimes reality hurts
NEWS! Looks like third to early fourth week of April IMO. They moved the meeting back a week, so I think they are again running on Nigerian time..Normally in the spring we leap forward 1 hour. In Nigeria they generally lose 1 hr. per day to the rest of the world.
IMO results/Phase 2 announcement will come out April 23 or April 26... with no other Nigerian time delays..
Great news when we get to oil.....
PARIS (AP) -- World oil demand will rise this year due to surging economic activity in Asian countries, especially China, the International Energy Agency said Friday as it bumped up its forecasts.
The Paris-based IEA, which advises oil-consuming countries, predicted in its monthly report that oil demand will average 86.6 million barrels a day this year, or 1.6 million barrels a day more than in 2009.
The IEA's previous report, in February, had estimated daily demand in 2010 of 86.5 million barrels. The estimate for 2009 was revised upwards to 85 million barrels a day.
The agency said that after five consecutive quarters of decline, "the latest data confirm that global oil demand resumed growth on a yearly basis in the fourth quarter of 2009."
Oil demand in developed economies will fall 0.3 percent in 2010, but this will be offset by higher demand in Asia, the IEA said.
"China is currently expected to account for almost a third of global oil demand growth in 2010," the IEA said.
Global oil demand fell 1.4 percent last year compared to 2008, as the Great Recession caused oil demand in OECD countries to drop by the biggest amount since the early 1980s.
While oil demand in OECD countries is seen contracting in 2010 for the fifth consecutive year, growth in developing countries is more than picking up the slack, the IEA said.
"This year's global oil demand growth will be driven entirely by non-OECD countries, with non-OECD Asia alone representing over half of total growth," the IEA said.
Global oil demand hit an all-time peak in 2007 at 86.5 million barrels a day.
This year's rebound is forecast to be driven by China, where the IEA said preliminary data indicated that demand "surged by an astonishing 28 percent year-on-year in January."
crap volume again... no news this week ...sad
If you don't take the deal you have to split your shares amongst the current investrohub board members. :)
I hear crickets..
Hopefully mark will have some news today, almost the end of the week. Good day for drilling/Phase 2 announcement.
If there is a meeting going on as we speak about Phase 2, it makes sense to me (IMO) that drilling results will be released shortly after an agreement has been reached.
Come on, give us a nice big boost for the weekend..
To all that responded to my post, thank you for all of the relavant info to ERHE... glad to get the posting back on track and not bickering, couldn't stand it....:)
I hope ERHE didn't give controlling decision to drill or not to drill to the operators/SNP..they could sit on this field for a long time. I hope OFFER has kept that control or it's in the contract that they must start Phase 2 by a certain date.. If SNP are draging their feet, then we should be able to(with the JDA) to choose another operator that's aggressive and willing to move forward quickly.
Obviously if they have to have a meeting about going ahead with Phase 2 this year the results must not be bust out great.
We need Phase 2. Can anyone answer this: if Snp decides not to participate in a phase 2 for whatever reason, can the JDA/ERHE seek another partner to move forward with a phase 2?
A meeting is understood to be taking place in the Nigerian capital Abuja this week with Sinopec and JDZ officials in attendance at which a decision will be made on whether the Chinese operator will push ahead with a second drilling campaign this year.
Is there confirmation that there are Phase 2 talks being held as we speak?
IMO it looks like SNP may be in over their head with this field. I think there are some complex negotiations going on to get some more expertise into the Zone and then the EEZ should make a lot more sense.
Looks like we will get an answer in mid-March..one way or another.
From the current sp and volume of ERHE it's leaning towards other.
Exclusive Economic Zone ('EEZ') of São Tomé and Príncipe ('STP')
Equator was invited by the government of STP, prior to the recently announced EEZ Licensing Round, to make its first choice of two blocks in the EEZ as per the Exploration and Production Option Agreement Equator has with the government. Following Equator exercising its option, Equator received from the government of STP a letter of allocation of the rights to two blocks in the EEZ. The government informed Equator that it will soon be able to begin negotiation of Production Sharing Contracts.
JDZ Bomu-1 Well
Sinopec, the operator, is completing the technical evaluation of the Bomu-1 discovery. In mid-March, the Company and the other participants are required to commit to a second well or to drop the block.
oops quiet not quite
Quite before the storm? Mark anything????
Mark did say that his journalist contact will be putting out an article about the results this week though, I think he said that..it's all blurring into one long nightmare..hopefully with a happy ending... == $ 2.50 +++ ps
BEFORE DEC 2012 when the Earth ends..according to a few old people
emdyal -- yes , I believe so..Phase 2 announcement and commencement within 120 days (US) would be huge...that would tells us they are on to something big...IMO of course.
Even if they don't release actual drilling results, IMO the bigger news will be Phase 2 plans.. Obviously drill results would have shown positive results to continue to develop this ZONE.
I look at the zone as a big hay stack and we're trying to find the needles. Seismic gave us a good pic of the hay stack of where the needles might be. With Phase 1 results and more data we now have a better idea of were the needles are... more informational drilling Phase 2 and 3 will pinpoint were the big needles are...thus reducing drilling costs for when the production drilling starts(after Phase 3)..
I day we reach riches is when good barrel numbers come in that are expected from the JDZ, then we will get the big substained run and our price will fluctuate with the price of oil insted of rumors...won't that be nice...
The only down side of that is none of us can insult, argue or correct anyone anymore..on this board :)
My guess .........IMO............
taking into the account that the stock market is looking for a place to put some $$$ IMO this stock seeing that there is no real history of PS..
I will put it at 2.75 to 2.90 intitial run..
pull back to 1.50 to 1.75 and then run to $3 plus after the Shareholders meeting.