You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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I probably should know this, but I would like some of the more knowledgeable people here to help me out. Is the Deepwater Pathfinder leased out to someone else (non JDZ) after Aug/Sept? If that is true, we only have the DP for at best June and July and possibly some of August. Not much time for drilling all those wells we need to prove up the oil.
If DP arrived NEXT week and took a week to set up, that would only leave half of June, July and some of August. How many wells can be drilled in that time frame? two or three?
What the "H"oly Fuk do I know.
Sorry did not mean to bring in religion to the Board!
Exit plan? It might be wise to wait for the inevitable buy out at whatever price SEO deems acceptable to him. We all know the "plan" for this company is to eventually be bought out. It just a question of when and for how much. I think waiting around for that event is the BEST strategy of all, plus you don't need to worry about how much and when to sell. It will all be decided for you. Of course, if the buy out involves obtaining X amount of shares of Addax, Chevron, or Sinopec that creates the problem of if or when to sell those shares. But I think we should think about THAT situation when and if it occurs. For now, I am waiting for the buy out. The question is when. Some here think it will be VERY soon, I myself think it will occur near the end of the year if not early next year. BWTHFDIK (very little)
Spec29 (a VERY reliable source) indicates he has heard that drilling will not begin until "late 3rd Quarter". That would mean September and indicate all the recent reports/rumors are WRONG that indicate early July. This would be a very good time to ask a question during either of the Addax's conferences to get a specific answer and when the DP rig is expected to start drilling. I would hope that if this information is not covered during the presentation, someone would ask that question during the Q & A period. I would think that Jeff S would have to know by now or at least have a good idea when the DP is to arrive.
I have a 7:30 am (PST) Doctor's appointment and will miss most of the presentation, especially the end when the Q & A occurs. The CC begins at 6:30 am (PST) and I will be leaving around 7 am.
Does anyone think this news will cause the SP the get to fifty?
Miami, I greatly appreciate your posts and opinions. Sometimes I disagree and not afraid to say so. Your posts on the RS discussion were overdone. There are more than you think that believe a RS will be good for ERHC immediately allowing ERHC to apply for a better stock exchange. RS have a bad name and most immediately fear them. But saying the RS discussion was used by some to drive the price down did not make any sense and was way off base. I believe in the RS, but did not take part in the debate as I know only SEO matters in that decision and us peons will be directed by his decision.
I too am a great believer in free speech and have had many posts on the other board deleted because I rub the moderator the wrong way. But they are in control and one has to live the censorship and loss of the freedom of speech.
Let's have a drink together someday!
Troy, as I have stated several times before if the buyer (the one making the offer to buy out ERHC) is the one who already owns 43% of the shares (whether it be SEO or someone SEO sells out to) that person/buyer can NOT vote his shares in the buy out offer referendum/ballot. There is a conflict of interst and he is procluded from voting on that issue just like SEO is now. Nothing would change if SEO sold Chrome as far as being bought out goes. Please relax there will be no lowball offer pushed through by that 43% that will benefit that 43%.
DeGen
Ps. Does anyone think BB is embedded with Oily? Does embedded mean in bed with as in sleeping with someone?
IMO Oily is like an embedded reporter on the "front line" of the action. He sees what is going on and likes to comment about it without giving away any critical information about the troop location or attack plan. He cannot get involved with the "real" action since he is just a reporter and has no firepower. He said he would not post anymore because he was frustrated about what was going on but now is even more frustrated about not posting so he deciided to post again as we all knew he would. Maybe the troops he is embedded with are now losing the battle and that frustrates him even more. The only real question is, which side is Oily fighting for? I can only hope he is on the side of the share holders but I sincerely doubt it. Oily, any comment?
DeGen
Ps. Since this post is kind of war related I would be remiss not to give all the troops, past and present a heart felt thank you for keeping America free and the land of opportunity and giving all of a chance to invest in ERHC. God bless the the American soldiers
IMO Oily is like an embedded reporter on the "front line" of the action. He sees what is going on and likes to comment about it without giving away any critical information about the troop location or attack plan. He cannot get involved with the "real" action since he is just a reporter and has no firepower. He said he would not post anymore because he was frustrated about what was going on but now is even more frustrated about not posting so he deciided to post again as we all knew he would. Maybe the troops he is embedded with are now losing the battle and that frustrates him even more. The only real question is, which side is Oily fighting for? I can only hope he is on the side of the share holders but I sincerely doubt it. Oily, any comment?
Note: this post was doubled posted but a very important Ps was added to the repost.
Troy/Dbnet, I fully believe at some time in the future ERHC will be bought out at a nice premium to the SP at the time of the buy out offer. This will make the decision to sell very easy (as in forced by SEO's recommendation). Those that sell their shares at a buck, two or three over the year or two will miss out on the real money. I do think the future SP will more closely reflect the oil found as drilling results come into play but there always will be a gap below the full value which only a "full price offer" will fetch. SEO will stand his ground and demand a full prce offer. It is just a matter of when Big Oil or the Chinese come around. Time is on our side as oil passes $60 per barrel.
Is my memory failing or did Oily say he was not going to post anymore? I really did not miss him and hoped he would keep his word, but just like most of his other posts that turned out not to be true. I love when others list all of his posts that were so wrong they as laughable.
BB, your post about majority/minority shareholding is much more applicable to a small closely held corporation not to a 700mil share listed corporation. All shareholders of ERHC are protected by the SEC and SEO knows that very well. SEO knows of the ongoing investigations and the last thing he would try is some hanky panky with some shady deal of CHrome buying out ERHC on the cheap. Most important, SEO shares would not be able to vote considering the oblivious conflict of interest. This issue has been brought up many times in the past and IMO it is just BS by Oily for whatever reason. I have little faith in what Oily posts as his past record of consistently being wrong speaks for itself. I give absolutely NO credence to Oily's latest BS. I also do not see how you can be so enthralled with his posts based on his past. What will of take for you to finally call a spade a spade ( or a BS artist a BS artist)?
Ps. I hope some here watched the end of the Cavs Magic game last night. King James pulled off a miracle 3pt shot with one second left on an inboand play. Unbelievable! Long live the King.
Jcanada, thank you so much for the sedco update. If you have any further updates in the future they would be VERY much appreciated. Everyone here is trying to pinpoint the actual date when drilling is to begin and your information is very helpful as no offcial information has been released on the "exact" date. Thank you again.
DeGen
26 trading days between now and July 1, which will be after the "scheduled" drilling in June. If the share price goes up an average of only 2 cents a day, we will almost be at a buck. I can live with that.
Umbra, I see you had a post deleted, shame, shame. I did want to respond to it though. I normally agree with Strass and like his perspective on things that put a negative light while others here continue to put on more of a positive light. It balances things out and I like seeing things from both sides (ala Judy Collins). But once in a while I do disagree with Strass and will voice that opinion. The issue of selling now versus waiting to after the drilling results to me is a no brainer and I do not mind taking the side of holding ALL my shares until after the drilling results. That is what I have been waiting for for over three years, while others here have waited much longer. Now is not the time to bail. I bought many shares in the very low teens (actual 10.6) and many others in the twenties and thirties. All of these have huge profits but I only think of them as something that has to offset my buys in the 80s and 90s. I am green now and very happy about that after being down nearly $300K at some point. I hope everyone does well with this investment and if they choose to sell now, so be it, but that is not my cup of tea. Is it yours?
I would love to meet with you, Strass, Exceo and some of the "older" crowd (in age not in ERHC investment life) sometime as I think we all have much in common and would become good friends.
YMike, does that mean we can sooooon say goodbye to the forgettable forties, as well as the terrible thirties, the torturous twenties and unfukken believable teens? I sure hope so! Are you looking forward to the sensational sixties, the super seventies, the outstanding eighties, and the nifty nineties? Or should be just jump to over a buck in one felt sloop?
Strass, my point is there should be more concrete information on how much oil is down there after drilling results are known within the next SIX MONTHS. I would hope everyone here is expecting to live at least that long. My mom Is 86 and I invested her money in ERHC fully expecting she will the the benefits of the drilling results. I have no problem with those who take SOME money off the table but to walk from this stock at this time IS foolish.
Strass, my guess is there are many here with lots of lotto tickets holding lightning rods just waiting for the "perfect storm". The potential of this stock will unfold only AFTER oil is discovered. Anyone selling before that event is very short sighted. The oil is what we are all waiting for. It is that simple.
DeGen (AKA the bag holder)
I hope to see 50 cents tomorrow!
Maskers, I guess you share holding of 2 million shares would make you the largest shareholder here. I believe there are several here (5 or so) that hold over a million, but no one I know of holds two million except for you. Do you mind revealing about what your average cost is.
DeGen
Ps. I guess you can be President of Million share club if you wanted to be.
Exceo, I like that terminology, that would justify my all in investment in ERHC in my mind by calling it a calculated risk and not a gamble. Then I might have to change my name to degenerate_calculated_ risk_taker which would be a might bit to long and difficult to say.
Exec, keep in mind that holding ANY one stock at such a high percentage of your portfolio is VERY risky and against most conventional wisdom. In addition, holding one stock through thick and thin and not trading it like some recommend you could be called a bag holder by some. But most here are "gambling" on a stock that has excellent potential and may be a life changing event for some, most or all of those that took such a leap of faith. Some call gambling a sure way of losing money, but gambling is just a matter of weighing the risks and deciding who the odds favor. Most here believe the odds favor the finding of a great deal of oil which will make the share price go up many fold. Is that worth the risk of going "all in" on this particular stock. I think most here would agree the risk will be worth the reward and now that the drilling is a month or so away, we soon will all be celebrating how smart we were (as well as how patient we were to go through all we have gone through).
Life is a gamble, so try to bet on a winner. The immortal words of a degenerate gambler, who has found a few winners in the past as well as a few losers.
Ps. I am sure if I posted that I bet on the American Idol outcome several weeks ago. Today, I had the opportunity to middle the bet so I can not lose and did so. I made the maximum bet ($100) on each side, and will break even if Adam wins and win $15 if Chris wins. A no lose situation.
Pss. I also be the Cavs to win the series (4-0, 4-1, push at 4-2, lose 4-3 or if they lose the series). I laid -1.18 to win 1.00.
Dadd, I see you are interested in "others" opinion on what the future selling price for ERHC will be. Maybe you should add a survey or poll that would ask the board members:
On what date will ERHC's share price reach ...
1. 50 cents
2. 75 cents
3. one dollar
4. two dollars
5. five dollars
My answers:
50 cents May 29
75 cents June 12
$1 June 26
$2 Aug 28
$5 Dec 4 (Vegas still has nice weather in early December)
I do not know how to add a survey or if I even have the right to do one. So maybe you can do so, if you think its a good idea. TIA
Side, I too am addicted, but have no more investment money to feed the "habit". I wonder how many here have between 50-100% of their stock portfolio in ERHC? I bet its more than half of us. Anyone want to reveal or too personal or too embarrassed?
Ps: I bet we close at 44 cents.
I bought 20K at 41.5 for my mother's account, without asking her first. She needs some a "good" stock as her blue chips have failed her in the past. I will never here the end of it, if ERHC tanks, so you know I really believe there are good things to come in the near future. I am already "all in" with too many shares.
The only question left for today is will anyone sell their shares under forty (bid now at 39.5). To really end the day on a downer. Five minutes to go to closing.
Krom, as far a marketing the company, ERHC tried that with RedShit(Chip) and you know the results. ERHC also had the idea of doing some kind of acquisition, which could help in marketing the company. The IHUB board has done a little brainstorming in the past and come up with ideas such as a reverse split to allow the company to be listed on more popular trading exchanges which the company has indicated it is striving for. But as of now, the company has now just decided to wait and wait and wait for the drilling.
My marketing idea is for ERHC to send out a PR EVERY week (on Monday) announcing how many days before drilling is to begin in each and every block where drilling expected (Blocks 2,3 & 4). Wouldn't that add some excitement to the situation. However, there might be a small problem with that idea. ERHC does not know when drilling will actually begin and may not be able to make such an announcement since they are NOT the operators. But I still like the idea.
OK, there is my brainstorm after a very relaxing and enjoyable cruise in the Mediterranean. I did come home with about 1000 Euros (of the 3000 I started with), which I will not convert to dollars for a while as I expect the Euro to gain on the dollar during the next year. The last port was Nice, France a short train ride to Monte Carlo, but the casino did not open until 2pm leaving not enough time to get back to the ship.
I also see I missed the opportunity to "volunteer" for the moderator job, but I do not think my application would have been accepted anyhow.
Strass, I am in full agreement with you and Troy about the Upstream "news" (rumors). I am very glad you said carrot patch instead of rose garden because that has become a very "thorny" issue with some here.
DeGen
Ps Off on a week vacation to Europe with no IHUB. Hope ERHC is in the 50s when I return. I bet it is!!!
So TA, do you want to make the bet?
Obviously Miami you do not like my analogy of the rose garden. But come on now how many posts here including some of mine, speak of an incredible buy out terms by Addax for 20 or more times our current value, or future share price of $5 or more using YankeMike's figures. These pie in the sky figures are repeated over and over by many here and soon give the appearance of actuality or fact. No risks, straight to $5, there is no stopping this train, get on before you miss it. The naivety here sometimes is amazing to me when few if any speak out against the glories of this stock. Crowd mentality and continual pumping makes all of us believers very soon. Not that we don't know about the risk, but if the risk is never mentioned it gets ignored and buried under the carpet. This is more about free speech and hearing from both sides of the issue then saying those here are unaware of the risk. If you don't here about Krom posting that the Feds may take all of ERHC's profits in the future, you will ignore that such a thing can possibly happen. Again, I am not saying those here don't believe there is risk involved, what I am saying is those risks need to be heard and discussed if need be. I am sorry you did not like my rose garden analogy, but I thought it was appropriate to mention. Again just my opinion.
DeGen
Ps: Maybe not the highest grades, but I passed the California Bar on my first try. BTW, the CA Bar is considered the hardest in the nation.
Miami, you are right, I have not been in business for 52 years, unless you start counting when I had my newspaper route when I was 12. My first business licence was in 1972, only 37 years ago. I know my degree in Chemical Engineering or my Law Degree (and Bar membership) or my Real Estate degree do not count in your mind, but they should earn me some of your respect even thought I do not have your many years of experience. But what you say about the make up of this board is very true, it takes all kinds and all kinds of opinions to have a FULL discussion of issues. I do not care if you disagree with what I say here, many do, including the moderators, but that does not make what I say wrong. What is boils down to, is we all have opinions and we are entitled to voice them. I appreciate your posts but also appreciate the dissenting views of Midtier, SPP, Tryoty and Strass. Remember is takes ALL kinds of opinions to have a complete and thorough discussion of the situation. And one more thing, you can always use the ignore feature.
Ps: Next time get the lowdown on someone before you critize them.
I predict a small gap up to 45 cents tomorrow AM. I also predict the share price reaches 50 cents after the Sinopec rig announcement this week.
Daydreamer, quit dreaming and look at REALITY. Addax will be involved in the drilling and has a nice share of Block 2. Addax will be the one who will be bragging about the discovery in Block 2 to promote their share price. Sinopec will not be able to muzzle Addax. It makes no sense for Sinopec or any other oil company to waste money on purpose to drill a dry hole. NO SENSE AT ALL.
corrected post with right Block numbers:
I wholeheartedly believe MarkG will be right this time. It makes sense for Sinopec to drill in their block since the timeline for drilling is running short and the drilling MUST be done so why not sooner than later. I think Sinopec controls (has under existing contracts) deep water rigs and it is just of matter of moving them around to suit their desires. If Sinopec wants to make a deal (buy out) of Addax, they should be cooperating with ADDAX in the JDZ. Having Addax use one of their rigs to do the required drilling for them in Block 3 makes sense and you know what Judge Judy says about that. If Sinopec and Addax "team up" in this endeavor it looks better for a future deal between the two companies. Of course this benefits ERHC since they have a nice chunk in Block 2 and proving up Block 2 before Block 4 can and will reduce that infamous "gap" and possibly get our SP much higher and closer to a buy out deal with Addax.
Does $1 sound unrealistic after Block 2 is drilled?
Does $3 sound unrealistic after Block 4 is drilled?
Hey those events are within 6 months.
It appears I have mixed up my JDZ block operators.
Sinopec is Block 2 (not 3 as shown incorrectly in my post)
Anadarko is Block 3
Addax is Block 4 (not 2 as shown incorrectly in my post)
Ps: Thanks Troy for pointing that out.
I wholeheartedly believe MarkG will be right this time. It makes sense for Sinopec to drill in their block since the timeline for drilling is running short and the drilling MUST be done so why not sooner than later. I think Sinopec controls (has under existing contracts) deep water rigs and it is just of matter of moving them around to suit their desires. If Sinopec wants to make a deal (buy out) of Addax, they should be cooperating with ADDAX in the JDZ. Having Addax use one of their rigs to do the required drilling for them in Block 3 makes sense and you know what Judge Judy says about that. If Sinopec and Addax "team up" in this endeavor it looks better for a future deal between the two companies. Of course this benefits ERHC since they have a nice chunk in Block 3 and proving up Block 3 before Block 2 can and will reduce that infamous "gap" and possibly get our SP much higher and closer to a buy out deal with Addax.
Does $1 sound unrealistic after Block 3 is drilled?
Does $3 sound unrealistic after Block 2 is drilled?
Hey those events are within 6 months.
Dat, maybe if you Google Sinopec and the Aban Abraham in Chinese you will find the announcement (lol).
TA I do not know where you got your information about me buying WGMGY shares at $14. I will put this in print as a challenge to who is telling the truth. I will give you a thousand dollars if you can prove I ever paid $14 a share for WGMGY or SNMM, if you are willing to give me $100 if you can not prove it within 30 days (or I can prove the statement is not true). So put up or shut up about your lies of my past. I will also make the same bet about my stock average price being around a buck ten (+/- 10%). Okay, I have my proof waiting to be submitted to a neutral third party. Are you ready to risk $200?
Ps: I suggest we take any references to WGMGY off this board and deal with them via email. RCPARKER99@AOL.COM I also request that any further reference to WG on this board be deleted by the moderators. The people here do not want to read about stock trading that is 3 to 7 years ago and the company no longer exists. It appears others on this board have already made that request, but TA refuses to listen and needs to be deleted or banned, since he continues to post about WG and my trades in WG. I only answer to correct his lies.
I recently had been invested in three stocks, when I heard about the DP coming from MarkG and decided to go all in on ERHC and sell the other two stocks. I sold the others and bought ERHC at 25ish. Now ERHC is at 40ish for a 60% return. Not even close to the small gain the sold stocks have witnessed. Sometimes it better to go with what you feel will be the better return. I also believe the SP will continue to climb much fasted than any other stock I would choose as an investment.
Ps. On Oct 30, 2006 Congress passed the IGaming Act, the following business day WGMGY dropped from $1.10 to less than 40 cents. A gap down at the open. Very close to that 75% drop in one day that I previously mentioned. The act by Congress was very unexpected and caused the drop in the share price. Put of course TA probably knew it was coming. My basis in the stock was about a buck. I sold 90% of my shares at 30ish cents. Thankfully I had many other invested at the time leaving me money to invest in ERHC. Sure I wish I sold at the top of the market, but how many here sold when ERHC was in the 90s (except of course TA who ALWAYS sells at the top and continues to buy low and sell high at the right time). I wish I was that perfect. Before the act of Congress WG had a great future in IGaming.
Dadd, do all the posts of Oily count as rumors or were they just "heresay"?