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Also when they resigned they said it was cause they couldn't handle overseas. Nothing like that here just "resigned"
They aren't going to say they disagree with their old audits.
Maestro, heard it before with ADCC, now ANDC. You can still see the SEC's at Pinksheets.com.
I wouldn't buy at any price on this news. Did you see the other charts for companies that had auditors resign.
I think Exxon will eat their lunch just like they did in Block 1 and probably wait to hit oil before they do.
Best scenario now is another three month wait. Read definition of "going concern"... bet that will be on the next audit.
Watch for ERHEE then ERHEQ as Offor figures out a way to put anything of value in his pocket.
Reference to "minnow" is apt. Little fish don't eat big fish.
VASC,ADSX,CCEL,RTW,NYFX,AIRN,MSTR all had auditors resign.
Check the stock charts. "RESIGN" is harsh, there are other was to step down.
ALSO I googled "resign + auditor+ nasdaq" and there aren't that many...this is rare and always bad. CCEL was years ago and came back after CEO was sued.
My guess is a lot of trades didn't get removed on Memorial Day and that Monday will be the bloodbath. Timing suspicious here. Repeating that the real selloff was Nov. 5th by insiders
.
Balance, maybe you know what the lawsuit was about?
I will give my take on why the accountants resigned.
The $58 million in shares to First Atlantic was to cover the money that had dissapeared from San Tome. Who knows how they worked that out.
The value at that time for the RESTRICTED shares was 40 cents... as the price dropped ERHE has to come up with the cash and can't do it.
Exit CPA
Also Offor muscled the San Tome government to give him all these percentages for what? Enter Exxon and the Feminazi from Anadqarko to make everything right with a few bribes in different places.
Most suspicious here is the unexplained tank in the stock on nov. 5 .. obviously insiders trading on the CPA news.
The DoW Jones Story from an "undisclosed source" less than compelling in light of the above coincidences.
I traded a POS called ADCC-now ANDC- once. They were out of Chile and kept changiig acountants on BS excuses. Bottom line was they had raided the company.
Google PKF, they have a great reputation and are experienced in Oil and Gas.
My bet is ERHEE to ERHEQ with Offor cutting some side deal. This was too good to be true.
Also anybody can go to the Houston courthouse to find out what happened in the lawsuit...apparently big investors did and dumped. Why tha story behind the lawsuit was accepted as a mystery by investors proves the adage about "one born every..."
Hope I'm wrong, but the CPA resignation was the last straw for me.
Oilman, check website for "latest news" Addax deal still listed
Ruby,i will reply to you since this seems to be the sort of info you pay attenetion to.
Last nite on BBC there was a small interview with a Nigerian who was supposed to be the leader of a new group of Black Africans (a lot of people forget that many whites consider Africa their home-- read Wilbur Smith's latest articles sometime) who called themselves something I can't remember. After the usual talk about being well educated, not taken seriously, etc. he talked about the oil wealth in Nigeria and how Black Africans were going to make damn sure they got their share.
As he talked the preference by ERHC for Addax, which has black directors and officers, over Noble became a lot more understandable to me. The events with Exxon, requirements for indies, etc. also made sense.
Best to remember here that this is a lot of oil, possibly the last big find on the planet and that it is the biggest resource in Nigeria. If this was my country I'd be doing the same things.
Here's my guess...since stories about Noble from a day before are now listed at Platts, this article was just "pulled" as being a unfounded rumour.
Also two articles about how hot NBL is to start drilling in GofG at Platts and RIG building more drillships for the purpose.
Zstock? got a link? This story is 36 hours old and doesn't come up on the Platt's site?
Any link here, ztock? This news is 24 hours old?
I searched the Platt's website and found nothing.
Yes we saw it on the 11th of October... Europeans put the day before the month. Nice try, but you should have waited till the 10th to run this hustle.
It's about the wife of the lawyer from Anadarko trying to weasle back into the block we pushed them out of.
Amazing how desparate the bashers are getting.
"transparencia" and "Equipo de conselores del norte america" is a give away to those who don't speak portuguese.
Doug, check out the info on deepwater rigs at the websites for RIG, GSF, etc... very optimistic with charts to prove it.
Yahoo search: "gulf of Guinea deepwater" and get Transoceanic's (RIG) take on our prospects.
Please post a link here and at RB. Trouble with my computer skills. Best 3rd party review of San Tome prospects I have seen.
They predict proven reserves for Nigeria to go to 37 billion barrels, mostly in GofG.
Time on our side.
Just checked in to see NDOL (19cents) take "le petite poo-poo d'jour"
maybe it's easier to look at the chart for RIG.NASDAQ .
I was looking at their quarterly
Balance, Google "gulf of Guinea performance people"... sorry I'm not more internet competent to post a better link...But
Lots of info on a deepwater outfit called "Transoceanic" and claims that more than 80% of new wells in the area are below 4500 feet. Also claims they expect reserves to reach 37 billion barrells.
An old article (February 17, 2004) from the Vanguard in Lagos refers to "several huge deepwater oil discoveries" in the Gulf of Guinea...written by Hector Igbikowubo.
He seems to think Chrome and ERHC are the same company
Any other references to more recent deepwater finds?
Great tree, I'm convinced...wait, why was it again that Nord needed to team up with BTSI? To dump some shares so they could fix wells that were worn out? What was it I heard about Russia rolling in cash from oil sales?
...and 3.8 million shares times .02 cents is, I believe, $80,000 or was $80k the amount the other insiders each lined up to dump?
... I looked for the address on a map (and the phone) looks like a mailbox to me.
BUT Amyot has a bunch of other P&Ps he has IPOed... my favorite is world hockey association..note that his touching autobiography has dissapeared from the web.
The chart speaks for itself.
Well, they did pay about a million for the shell of BTSI? How hot is that?
Please be more specific...what part of "insider dumping","no address", "not filed with SEC" ,etc. don't you understand
Wait they have an address on a street that can't be googled and they did register the announcment of the new website and check the chart for his new companny...one born every minute
Stockhocker,Probably why ERHC wanted a Swiss partner.EOM
Walker, you are dead right. I just researched Slava Makaronioff and posted the results on Raging bull BTSI. See the photos at the Russian Website. Must be 18 (;o)
Balance, check the press releases for PXD. Looks like they sold their interests in Gulf of Mexico after deep water hits...so they could drill in G of G? Or is this old news?
Actually I'm just proud I dumped when I heard the insiders were dumping. I admit I talked to Amyot's partner... but the sound effects he manufactured (him filling his car to leave town) were a bit to postmodern to convince me he was anything but a con artist. Sounded like a pencil in a glass of water then tapping on the desk... very clear... no backgroung traffic at all.
I keep thinking you guys are just naive, but either way you should have dumped.
First mention you and tree are both cozy with an insider. I believe that's what cons call "cracking".
Also anybody who thinks this turkey finished at 20 cents should check the chart at bigcharts.com.
It took a big dumpy at the end of the day to 16 cents.
This turkey can flush on low volume...any new links to free websites? How about "Russianscamsbloggerlolitas" where Chaimlink Tireflatt got a degree from Southern Alberta Community College in Gas Station Restroom Managment.
Wrong, Walker. I know Amyot is dumping his $80,000 (not the $8000 tree missed the decimal point referencing) thru his wife, a bunch of Italians are doing the same to the tune of about a $million (a heckuva price for a shell, which i repeat can be bought for $25K), Amyot's previous satilite IPO was a real turkey and he didn't mention it in his touching autobiography, the phone doesn't answer, the address for Amyot's P&D boiler room)is a zip code, there are no filings with the SEC (especially of the "NEWS!")except for BTSI which has the P&D chart for "fooled you twice", preditions of oil pumped are unaudited, no record of trying to get listed but vague promises by 3rd paries, a strange stock format where the Russians with the real assets are supposed to be restricted and NO clue as to why they are giving away this company. What did I miss?
Yes, it's tanking .....
Very interesting news at IHDR.OB about a new contract to build the product with a big Italian outfit. Worth a bit of DD. I am going to take another look at Jamie's francise with these guys.
Some messages on iHUB and RB
i just started following this stock. Chart is very suspicious. Big pop the day before the PR, then selloff into the Monday news. The strange part here is the prefered shares which recieve a 10% interest rate. Apparently there are worth $18 million, so the first $1.8 in profits is out the door efore it is made every year.
How does this stack up for shareholders??
Just an ugly signal, Tree
My DD ended with the last stock AMyot took public... a satilite co. that hung around for a few months at $2.00 then crashed overnight to 10 cents. Also the difficulty in finding the insider trades and the fact that the insiders jumped on the bandwagon to sell the day after they found out Amyot's wife was dumping. Birds of a feather...
Tree, you seem sincere, BUT... I have been following these little oil companies for a few years. Two that made some money on bumps were PTII.OB "Patch Energy" and GUSH.OB, later CNR.AMEX.
In both companies there was a lot of speculation and news was timed to benefit insiders, BUT the news wasn't about guys with no history in oil starting up new websites or new links to free website listings that looked impressive to naive investors or dilution called financing... news was about new and old wells and leases with very definite locations, depths, times and percentages. Moves to listing on AMEX were spelled out with times and data presented.
If these stocks (SPRL and NDOL) aren't outright scams the officers are so lazy and incompetent that there is no functional difference.
Oil Analysist for Duetche Bank suggested some days ago that falling oil prices would encourage emerging countries to ink deals. As long as prices were going up they held off and were hard to get locked in.
I saw it on C-SPAN so no link.
GREAT POST RUBY!!! EOM
look at charts for stocks pumped by Max2442 and greenbullz... It's easy on RB.
Also timing bashing of sincere inquiries (instantaneous) ... won't take a lot of DD to see why this is a P+D (dare I say "SCAM"? no I'll be deleted again).
Balance (or anybody, two questions ????
1) Apparently NBL didn't want to "carry the indies"...what does this mean? ...also is ERHC considered an indie on some blocks? ... they have at least 15% on blocks 2-6 (not so?) and will recieve a share of revenues based on what formula?
2) the website mentions rights in the STPEEZ... any info on these (which I believe I heard will double the share value)?
SORRY TO THE BOARD HERE...BALANCE SENT A PRIVATE MESSAGE THAT I HAD NOT READ...VERY INFORMATIVE ON STPEEZ "WHICH MAY HOLD 24 BILLION BARRELS"
Balance, this info on "2 blocks at 100% etc."would look good on the website.
Again, Balance, thanx for your dedicated precision... this must be the best board on the internet.
Thanks balance, excellent info as usual... of interest is that the new Alaska Fields that Bush is trying to open are suposed to have a whopping 6.5 to 12 billion barrels of oil according to a PBS special
Also isn't ERHC vested in the STPEEZ which has the same potential as the JDZ. What percent of each block and how many blocks
Balance ...where do you get the cost of $30 million per well?
...at what depth?
This board is for pumpers, so I'll go to BTSI at Ragingbull...
where you can see why I knew this POS was going to tank.
See elegant posts of MAXXUI which also prediced a spike in ERHE.OB a real oil company with real leases in the last major undeveloped field where the US Navy has a cooperative agreement with the governments "in charge".
Mongoloid...I tried to warn you that the bump up on Wednesday was insiders buying on great news! Maybe you should join the Peace Corps and go to Chad. They need someone to explain the evils of insider tradong. I am sure in your heart you are a BLEEDING HEART LIBERAL... otherwise you would be shutting up and buying. It's too late to trash this stock now :)