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Apologies. I did mix them up Bomu was what I meant to say.
good luck to you too.
I think it is a combination of #1 (nobody knows about ERHE) and #5 ( loss of confidence:at least it is for me anyway). Aside from all of the BS that gets posted here, the facts are that OBO1 was non-commercial quantities of oil and Kina was non-commercial quantities of gas. I don't put a lot of stock in the drilling off-center conspiracy theories or the tight hole BS. I for one am a lot less confident in what the futuer holds for this stock becuase were are 0 for 2.
I hope that the amount of oil that is found in the next two wells is not already priced into the stock.
Not selling and hoping for the best with my break even point at 58 cents.
holding for 5 years and not a basher just a realistic person who is apparently out of Kool-Aid
So is the rig that will drill the second hole in block 1?
Hey greasy pachyderm, was that the temperature in Houston that you were predicting?
Makes sense that news would come out after that huge buying frenzy of the last four days! How much did you buy back after the dip and what is your new target price?
Based on how the stock reacted to the PR today, if the first hole is dry we will all get a chance to by more in the 30's LOL
My opinion: The news did cause the plunge. Even though it was good news, the only ones trading were the traders (not the holders). The news that they heard was an affirmation that ERHC was not selling. The company is in it for the long haul and there is no eminent sale. This caused all of those holding for the sale and those hoping for a huge pop on the first well to exit stage left. It was the preverbial sell on the news! Apparently it was not the quick money news they were looking for.
anybody admitting to selling any shares? I have to admit I have been considering taking the 5 bagger on my 20 cent shares when this stock finally gets to the left side of the decimal point.
I don't know if I will , but my wife would like me to.
I think we got dealt BiG Slick! (oil slick that is) LOL
We're the big blind and we haven't even seen the flop yet! Don't get talked out of your cards at this point in the game.
Can't wait to see what 4th street and the river bring us!
Jeez! Leave you guys alone for five minutes and look what happens to the SP!! LOL
Mark,
You are drinking for free in Vegas!!
OT DG, got the letter you sent me. It looks great! I hope you get reply soon. Sorry for the late reply. I had a Nine year old team baseball team in a tournament this week and we have had games every night.
Agree with you 100% You have to ask this question: What is in it for the SEC to close the investigation?
Nothing.
Boy! Hypsterphant sure has put on the full court press! Need to unload some shares?
OT: Thanks All for the Birthday wishes! Beween this stock and my little league team squeaking out a win, it was a great 41st!
Thanks! Looks like this stock is poised to brighten my birthday
It is now officially my birthday. I need to get to 62 cents to get back to break even after 5 1/2 years or so. It would be a great birthday present. Can you guys help me out? LOL
I am not freaking out about you selling shares. In fact, I applaud your objectivity in doing so. Most are too driven by fear or greed to invest or divest smartly. My reason for asking is that I just started investigating MOSH myself and recognised your name on that baord. Coincidentally, it looks like you just did the same.
Tryoty>> Since my post got deleted on ERHE message board. I will re-tryoty it here! Did you sell to buy Mesa (MOSH)?
Thanks! Instructmba I am still doing DD.
Hello all: new to the board. I have been doing some reading on the links above and have to admit that things look good for case. Anyone have an opinion (percentage-wise) on the likelyhood of a decision against MOSH? Not a basher, found this by following a link from an investor on another board.
TIA
OT. To all those Z4 lovers. Don't buy until you test drive a Camaro. I just drove a 2010 Black Super Sport and it was awesome. I know what I am buying first when this stock pops!
No that wasn't a dog with a hair lip, it was me calling for a GoVols update!
Mark! Mark!
I think Oily is making one last grasp at cheap shares while his manipiulation efforts can still have an effect (even if it is a few pennies). The good thing is that news may actually be coming if he is giving up!
I think Oily is making one last grasp at cheap shares while his manipiulation efforts can still have an effect (even if it is a few pennies). The good thing is that news may actually be coming if he is giving up!
Sorry,
March 8th, 2009. I should have put the date in my original post. I don't remeber seeing it on the board, and I got excited about the 2nd quarter comment.
New Article? Says Spudding to possibly begin in 2nd quarter.
Addax Petroleum to commence drill of lucrative Block 4 in Nigeria-Sao-Tome JDZ Deal Sunday March 8,2009
newsdiaryonline.com (editor@newsdiaryonline.com)
Very soon deep water drilling activity within the Joint Development Zone JDZ between Nigeria and Sao Tome and Principe will be intensified.Sources told Newsdiaryonline that in deed the drilling is coming to fruition in the aftermath of pressure on the companies involved by both countries under the aegis of the Nigeria-Sao Tome Joint Development Authority,JDA.
In the round of drilling that will soon commence particularly the second or third quarter of this year , Addax Petroleum appears to have scored the bull`s eye as it has secured the seemingly highly lucrative Block 4 .Drilling is expected to commence on the block anytime at the end of the second quarter of 2009.Newsdiaryonline sources said Addax has informed the JDA it would be using Deep Water Pathfinder for its drill. It was also learnt that a press release will be issued by Addax and the JDA in a few days' time to announce the commencement sweet-heart deal.
Already an agreement is believed to have been signed between Addax and Transocean Limited for the Deepwater Pathfinder rig. It is expected to be delivered at the end of the 2nd Quarter of 2009, for drilling to commence in the 3 quarter 2009.Four wells are to be drilled commencing with the Kina prospect in Block 4.
These are the words of a source''From all indications exciting times are ahead for the JDZ. Drilling of the rig would be done by Addax .Drilling to begin late 2nd qtr. All operators/participants will make an official announcement soon.I is also expected that the JDA will be issuing a press release on the development''
But it is not Addax alone that would be drilling . There is also Sinopec drilling. Both are expected to occur this year.The companies involved see the venture as lucrative and attractive.One executive called it a dream ..
The rig to be drilled by Addax has "an excellent track record'' .Recently as preparation for the epoch making announcement began, sources confirmed at the Joint Development Authority (JDA) that an announcement is going to occur ( possibly a press release) very soon regarding a drilling rig for JDZ Block 4 to occur within next 60 days. This rig is a "rig of opportunity that was recently acquired by addax oil.Another rig-drillship, the Aban Abraham, will also be drilling in JDZ in later 2009.
Upstream Online reported recently that ``Geneva-based Addax Petroleum is set to charter a drilling rig, probably a drillship, to spud its debut wildcat on Block 4 in the Joint Development Zone (JDZ) managed by Nigeria and Sao Tome&Principe.
Addax and its key partner ERHC Energy hope to have the unit on location within two months after pressure from both heads of state to start serious exploration.
``Sources close to Addax suggested funding had already been approved and the company's bankers are onboard with the timetable. Previously, Addax suggested that the block's Kina prospect would be targeted in the second half of this year but local pressure exerted by the Abuja-based Joint Development Authority may accelerate the spud date to the
second quarter.
``Block 4 is estimated to host unrisked oil resources of 529 million barrels with the risked figure being 202 million barrels. The new rig will augment existing plans to charter the Aban Abraham drillship for similar deployment in the JDZ, also likely to be block-4, in the fourth quarter of this year.
Newsdiaryonline source verified all the facts which were said to be very correct. But efforts by newsdiaryonline to get official reactions from the JDA and Addax Petroleum failed as there was no response to e-mail and text messages sent to them.
Markgovols? (no.no.no go wolverines!) any news on your leak? I like only being down 33% on this stock right now and I don't want to go back to -50%.
P.S. Thanks very much for your efforts!
China needs oil to make Melamine (an important additive to the country's food supply)LOL
I bought today for the 1st time in over 4 years. Tried to by 10,000 at .20 but only received a. partial fill of 6800 shares. Just barely brought my average below sixty cents a share. It has been an encouraging week. The biggest rise came with the biggest volume so I could not stand on the sideline any longer.
This is probably peanuts to most.
That was a hell of a prediction rheddle. You have now been right one more time than Oily!
No Kool-aid needed today. Finally talked my wife into averaging down a little. Just got a partial fill of my order at $.20. I wonder what is bringing this stock out of it's coma?
Posted by 30 Crappie Post 140550.
We are all entitled to a bad attitude about this stock sometimes. I am not a basher, but owning this stock at 67 cents for five years has not done much for my outlook.
You have said that the oil is still there, but I hope it is out of the ground before I am dead.
Must have been out of Kool-Aid then too> I was probably feeling kinda crappie! RAH RAH ERHE!
The current market would support the articles describing further postponement. As supply is increasing and the price of oil is falling, oil sands and deep water drilling become less and less attractive.
I own this stock at a very high price compared to today's closing, but I haven't seen anything "real" that would compel me to buy more. This is what I see:
Downward trend in oil price
Risk averse companies cutting back on high risk projects
Decrease in capital spending and lending
downward price in ERHE
Chevron's exit and ADDAx's entrance suggest that the quantity of oil might be attractive only to smaller outfits.
Assuming the market is competitive, we are priced at what we should be until proven. This also suggests that we will not skyrocket as high as many believe after proven.
Keepin it real. Fresh out of Kool-aid
Strass,
My title at home is VP of Operations. This means I am responsible for dishes and vacuuming. I just wish I had his salary since I apparently do twice as much work!
LOL
TS3221 4 years and still making Kool-Aid