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.
Chart Buy!!! - Good call!!!
agreed - the example of buying 28% more is an extremely weak and naive argument.
Actually I think it was because Addax employees showed up for work today and on time and because Addax is drilling somewhere in this world because surely everything Addax does has something to do with the JDZ.
Hey what's going on with Addax's Taq Taq property? i hear it will impact the JDZ in some way.... because as you know, anything that Addax does somehow relates to the the JDZ and it's participants. :)
Dan's response - looks like the BM headline was misleading:
Send email
Find email
View detailsTo
From: Daniel Keeney, APR (dkeeney@dpkpr.com)
Sent: Tue 5/22/12 10:42 AM
To:
mz157:
I apologize for the slow response -- I wanted to be sure I had accurate information. As I suspected, there is no finality on the position going forward on the JDZ. Please refer to the script from last month’s management presentation (http://erhc.com/articles/2012-annual-meeting-of-shareholders/) regarding the Company’s explanation of the three potential outcomes of the current deliberations. When a decision is finalized, ERHC Energy will announce it to shareholders.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.danielkeeney.com
From: mz157
Sent: Monday, May 21, 2012 4:00 PM
To: dkeeney@dpkpr.com; dan@keeneypr.com
Subject: ERHC-JDZ
Dan - there was an article on Upstream Online that said ERHC is looking for new partners in the JDZ. Is that accurate?
Thanks
I emailed DK around 5pm ET and haven't heard back.
there was supposed to be an ERHC spring rally as well two recent "breakouts" according to TA
Thanks mromro - one of the few posters I pay attention to... Always thought you were meridian. Care to share any thoughts or impressions on all this?
not that i think it will happen but you do realize they can do a R/S, right?
still waiting on that buyout eh? always "soon". There is no buyout on the table. the only chance of a buyout is if Total hits this round.... how many wells have they drilled now? 14 or so? 13 of which were secret, right?
excellent set of posts. People didn't become hostile for any other reason other than the fact the communications from DK and PN have been abysmal. and yes the letter exists and was published on this board and i even believe some edits were made here.
I am guessing that trying to carry 750k in cash hidden in a suitcase into the UK and getting caught has a slightly more negative effect than what some random annonymous person posts on a message board. I will say it again... no legitimate (read: not a chop shop or boiler room) institution would make an investment decision in erhc because of a message board. it's a ludacris argument. in fact if that is true, than i am glad because those are not long-term investors and they will only hurt ERHE's SP because they are in it for quick scalp (see: PP).
there is zero proof that Chrome didn't vote their ERHC shares and and there is less than zero connection with this and the IMO MOU and whatever other conspiracy theory the VIPs can come up with.
it is pretty surprising that so many people have turned out... OR.... could it be the fact that there are ways to get around only voting once on poll daddy?! (quick google search reveals many different ways to do so).
oh and i know at least 8 people who don't read this site but:
a) do not like me for rec'ing this stock many years ago
b) would have voted against management
so should you count those as well if you count strategyone's peeps (who by the way are capable of voting when they get home on their own IP... unless strategyone's work keeps them their 24 hours a day)
the fact that ERHC management reads and worries about this forum is pretty telling (sad).
and the polls are so biased so that's hardly evidence of anything. The polls are made essentially that you can't answer in the negative... sorta like:
a) PN is doing a good job
b) I hope the world breaks out into nuclear warfare
there are 737mm shares O/S. 366mm voted... assuming SEO and the insiders voted, what are you left with? Last i checked "half" didnt equal "majority".
Let's hope Total hits because that is only real outcome that will move the stock price (not chad etc etc)... everyone will be happy!!
so as suspected, when you strip out SEO's and the insider shares... what are you left with? Not much. I would hardly call it a vote of confidence when almost half the shares don't even bother to vote and the majority of the rest abstained. Doesn't track those polls now does it?! I do look forward to the spin though.
I can't believe i have been agreeing almost 100% with AMJ lately but as shes says....Just waiting on Total.. Total hits and we will all be happy.
ok so maybe not 100% but the few that do use message boards for DD... well I don't want those types of "institutions" in ERHC because they are most likely chop shops and boiler rooms and will be detrimental to share price (see: previous PP).
Seriously... can you imagine any credible fund manager telling potential investors in a DD meeting that part of their investing edge is by reading message board posts by annonymous people?? amateurs.
I fully understand how institutional finance works. The doj and sec investigations of erhc were dormant for years and any real institution who knew how to do dd would realize this was no longer an issue. so the formal letters may have slightly de-risked the company but nowhere in comparison to other risks they would take on if partnering etc (think badog summed it up perfectly as to why potential partners would be hesitant and it has nothing to do with the alphabet gang).
Oh and those who understand institutional finance know that institutions 100% do not rely on message boards to do their dd... In fact it's sort of a joke. Not sure how you classify institutions but the ones I am aware would never ever ever even bother with a message board for dd... There are plenty of other ways to get legal, reliable info. It's a terrifying thought that an entity would be making investment decisions based on a mb (let alone retail investors). Talk about amateurs if true.
The fact is that we are waiting total and we will be in a tough position if block 1 isn't a success.
again with the de-risked?! what does that even mean... if anything, erhc is in a worse position because they are eventually on the hook to pay for current assets. In the past, they operated with no money but that was do-able because they had very lucrative assets (the JDZ) in which the majors were paying many millions to be a part of (let's also not forget their payroll is now greatly expanded compared to before). It's a different world today and I don't see anyone rushing to get into any of our assets. (hopefully total changes that). Saying that we are fine because we operated with no money before is a completely ludacris and disingenous statement to make.
I guess if the definition of de-risking is getting the price so low that you can't really lose anymore... then yeah i agree.
de-risking the company?! wow. that's a good one... similar to that explanation awhile back as to how to calculate risk?
And a few other points:
- institutions do NOT make investments based on message boards... in fact, they are generally laughed at not taken seriously whatsoever.
- I really hope that retail investors do not make investment decisions based on message boards. That is about the worst possible thing to do... even if it's the first thing to come up on google (LOL - great argument)
- the 99% vote rate is based on shares voted...not shares outstanding. Last vote, i believe only 60% or so of the outstanding voted... guess who owns most of that 60%? I am guessing this years figures will be similar so i would stop with the manipulation of data.
btw.. STC... interesting post. always value your opinion.
Pete - thanks for taking the time to share all of this info
also interesting that they have once again confirmed that phase 1 drilling did not find thermo or condensate etc... some "VIP's" have been telling us this is not the case. interesting that someone would be willing to pay billions for biogenic gas.
yep more of the same it sounds like... all things we are going to do. Have heard that for 4-5 years now. at least one positive about the SEC letter!
couple thoughts:
-if there was an offer and it was "in the billions" it was in no way done after drilling
-tomorrow will probably be much ado about nothing (of course still waiting on that PR that PN was supposed to release... you know because he wasn't going to into the meeting with just "a smile")
- i kinda hope AMJ's friend from last year will be there again this year to make management sweat a little. it's not like anything else is going to happen besides management feeding shareholders the same BS.
snaye - this was said on 4/13:
"Will PN really go to the shareholder's meeting with nothing but his smiling
face??? I think not, but we will see."
So the saying "...large grain of salt" should apply here.
I believe there will be a meeting soon to discuss when they will be having the meeting to start thinking about things... of course it could be cancelled.
you really believe that the white board is still in play? honestly? There has only been a world financial crisis and a few hundred other things that have transipred since then. My guess is a few of those companies ERHC was in talks with either do not exist or are under different management teams.
a) this is a "loaded" poll and extremely biased
b) it's very easy to vote multiple times
but hey, whatever floats your boat!
A) I believe it was Jeff Shrull who said that... and even if JCGAndUr did say that, it was said BEFORE drilling
B) I will say with 98% certainty that when all is said and done with ERHC, JCG will have nothing to do with whatever the outcome is.
all of these questions have been excellent - hope they will be asked at the SHM.
the PN bulls like to say that if drilling was a success then the SP would be much higher and we would all be happy... well...no *#%&! Of course that's the case. But what separates the men from the boys is when things don't go as planned. Well guess what... things didnt go as planned for ERHC and we had no plan B. instead we threw away millions (30+) of dollars with nothing to show for except extremely risky assets which are a long way off and a few STP futbol ticket stubs.
A good manager would've steered through this and had a backup plan. The market is the ultimate judge of performance and there is a reason why we are at 9 cents and it's not simply because of poor drilling.
the share price is the ultimate judge and jury of management... i would hate to see what you think a bad ceo does.
Please list PN's accomplishments.
I truly hope people don't make investment decisions based on a message board. That is a scary thought.
Don't you know that 3 holes have already been drilled and that the block one spend is actually 2 billion dollars... not 200mm? Also, i hear the oil was so abundant that it was seeping out of the ocean floor.
excellent post... no one is going to buy or sell based on a message board and no one can buy or sell based on a non-existant value for Chad and the EEZ. There is too much uncertainty right now and the market is factoring that which is why we continue to languish at these prices...the market needs something definitive and something it can value.
you heard my insights based on facts and logic:
-Total started drilling the FIRST well on 3/25. (ie no secret wells)
-They will drill a second well some time afterward.
-The 200mm was in reference to the total spend of block 1, not of Total's 46%.
-200mm is in line with the stated 2 wells
-I don't believe in dots and conspiracies and generally focus on what is put out by companies and try not to jump to conclusions.
-I expect the stock price to start moving with some positive obo results.
amen - logical...excellent post. I hope we start to see some movement soon!
yeah it's not intuitive that they would be stating only their 46% portion. They were referring to the entire amount being spent on block 1.
Also... did you guys ever think that Total's statement of spending 200mm was the total for the block? That's an awfully large conclusion to be jumping to that Total was talking about their 46%. A MIGHTY LARGE ASSUMPTION... and completely illogical.
there have been so many "assumptions" that have been patently false.