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.
Does anyone know why CJ has.not been posting? It's been almost a month.
I think PN previously purchased about 100K @ about .14
26K is a lot to spend to "look as if he tried"
Also PN would probably know if Chrome (Offer) participated before he bought IMO.
Why would PN buy 350K with his own money @.075 if he didn't think positive events were comming in the future? I know some of you will say he bought it with the company's money but he could have invested the money in other places.
The article you posted is almost 3 years old.
AF-Are you still in LSG? if so are you averaging down?
Once again you say insiders are dumping. A total of 190000 sold for $1990 this year. That's hardly dumping. You must have a agenda here.
You have got to be kidding right? A total of 190000 sold for $1990 this year. A drop in the bucket. You say massive sell off.
What happened to CJ?
Agree 100%
These s ame posters continue to bash day after day and when I call them out for what they are my post gets deleted. What's up with that?
Limit my buys under $1.20
I am not sure what you mean. EGI is currently .29. Are you referring to LPR?
AF- What do you think of EGI at this price?
AF-Are you still holding LSG
AF-TAT looks ready
Badog - you asked where buyers will come from if existing shareholders are tapped out. This is what I think.
If we get some positive news and the 20 day moving average (.069) breaks above the 50 day moving average (.07) with some decent volume that will set off scanners for thousands of traders. ERHE will then be on there radar. If we can break the 200 day moving average (.096) more scanners will be set off bringing in more new buyers.
Look at 2009 when ERHE went from .10 to over .90 in about 6 months on the news that SNP had secured a drill ship and would be drilling in the JDZ. I believe that this could happen again if we get positive news from Kenya, Chad, or EEZ.
I noticed that you did not post at all during the 900% run up to drilling in 2009. Not sure why.
I will agree that you were correct in late 2009 to question the drilling results and get out before the stock fell.
Stocks rise on the expectation of good news coming in the near future. The actual news when it comes usually brings sellers unless the news is spectacular.
But why would anyone want to be a moderator for a stock they don't like or own. Seems like ones time could be better spent.
I just e-mailed Dan Keeney:
I asked Dan:
Are we still waiting for CST to complete the reconciling of accounts?
Dan Answered:
Yes. When that process is complete the Company will issue a statement.
The offering could not possibly have been fully subscribed until it was closed. I know several of my friends who are small shareholders that did not subscribe. There are shares remaining at the end of the offering that must be allocated in a fair manner. They cannot be just given to Offer or Chrome. I hope we will hear soon the final results.
AF-Do you have a buy point on EGI?
71K bought @.73
Time and Sales ERHE
13:45:58 0.073 31000 OBB
13:45:52 0.073 40000 OBB
09:30:23 0.064 2000 OBB
emdyal - did you see this I posted several days ago?
I asked Dan Keeney if he knew how much longer the rights reconciliation would take since they said at least several days in their press release of 3/18.
Dan responded:
I am sorry, but I don't have any additional information. The reason we used the wording 'at least several days,' was that we didn't expect it to take less than several days, but we didn't have the ability to accurately predict how long the process would take. Rest assured that when the transfer agent completes the reconciliation, ERHC will issue an announcement as the news release issued last week stated
cimmaron-very sorry for your loss
I asked Dan Keeney if he knew how much longer the rights reconciliation would take since they said at least several days in their press release of 3/18.
Dan responded:
I am sorry, but I don't have any additional information. The reason we used the wording 'at least several days,' was that we didn't expect it to take less than several days, but we didn't have the ability to accurately predict how long the process would take. Rest assured that when the transfer agent completes the reconciliation, ERHC will issue an announcement as the news release issued last week stated
EGI-Looks like is has bottomed. Bullish chart pattern as per Americanbulls.com. Any comments would be appreciated.
EGI-Looks like is has bottomed
AF-are you still holding your 50k LSG?
AF-Please comment on LSG-Are you still holding and still looking for .90?
AF-LSG-still holding?
I am not an oil person but I don't see how anyone could determine if there is oil or not in the JDZ after only the limited number of wells that have been drilled. I think the issue is the cost of drilling. From what I have read many of the worlds largest oil fields have had unsuccessful wells drilled before oil was finally found.
Check out this video from Brain Webber from 2010
Sorry-Didn't mean to be nasty. Everyone is on edge waiting for rights offering results.
Get it right. No trades so far @.062
Time and Sales for ERHC Energy Inc. (ERHE) Mar 06, 2013
.
Time Price Volume Exchange
14:19:56 0.0652 18500 OBB
14:19:47 0.0685 10000 OBB
14:19:35 0.07 32000 OBB
12:58:00 0.07 25000 OBB
12:25:04 0.073 4479 OBB
11:45:55 0.07 100000 OBB
10:34:40 0.073 10000 OBB
10:32:56 0.073 15000 OBB
10:17:27 0.073 25000 OBB
09:47:16 0.07 25000 OBB
09:45:55 0.07 50000 OBB
09:30:17 0.07 25000 OBB
Ihave never seen a stock with 750 Million shares outsanding trade a lightly as ERHE. The float appears to be held tight. It doesen't take much volume to move the stock up or down. Unless bad news anyone who bought at .075 will not be selling anytime soon surley not at .075.
Also remember that PN and at least one other in management bought additional shares with their own money @ about .14 in the last year.
Licktey- I guess we are on the same 2 boards. Here and ER*E. I haven't been following you on this board. What are your thoughts on MMRF. I do own a position.
bmu-I think Dan was using 200M as an example. The actual subscribed shares could be more or less.
emdyal-I asked this question yesterday. Why did you participate in the offering? You must see higher value in ERHC going forward or why would you particpate.
I asked Dan Keeney the followng queations:
Note: When Dan references my example it the one I posted earlier (UR*E)
I am still trying to understand that if funds have not cleared for some shareholders that have already submitted their paperwork how funds will clear for shareholders that submit their paperwork before 5PM March 12 by March 15.
Also a shareholder can over subscribe to the offering. Can you please explain how that process works.
1. When will a shareholder know how many additional shares thay can purchase.
2. When do the funds have to be in for the additional shares.
I assume the offering can not be totally completed until over subscribed shares have been allocated and purchased. Is there a date for that proceess to be completed.
Is there a date when shares be mailed to shareholders who to not hold their shares in a brokerage account and a date when shares will be deposited in brokerage accounts and available for trading.
Does the company have a date when will we know the results of the offering and how much money has been raised.
Dans answers:
Thanks for your note. All of this is spelled out in the prospectus and I encourage you to review the materials.
Basically, if a shareholder has fully subscribed to exercise their rights under the offering, they can over-subscribe by indicating the number of additional shares they would like to purchase and including the funds to do so. At the close of the rights offering in a couple weeks, Corporate Stock Transfer will add up all the subscription rights that were exercised and funded in the offering. For example and to make it simple, let's say 200 million subscription rights were exercised. This would leave approximately 50 million subscription rights available for those who over-subscribed. If there are fewer shares purchased in the over subscription than are available, it is simple -- Corporate Stock Transfer takes the money and all shareholders who over-subscribed get what they paid for. If the opposite is true -- fewer shares available than people want to purchase through the over-subscription rights, Corporate Stock Transfer will award the remaining shares on a pro-rata basis. The more shares owned, the more shares the stockholder would receive in the over-subscription.
Also described in the prospectus is the fact that the Company had the ability to extend the offering if it chose to do so. It is limited in its ability to extend the rights offering -- and can there can be no further extension beyond March 15th. The offering will be totally completed on March 15th regardless of whether all the shares offered are purchased. I believe in the interview with Sylvan Odobulu posted last week he indicated that if there are shares remaining the Company would pursue other fund raising alternatives. I will check on your question about a date. The example you shared may or may not be applicable, since the over-subscription privilege in ERHC's offering adds a layer of complexity that doesn't appear to have been involved in your example. Also, ERHC is somewhat unusual in the number of smaller stockholders (more than 6,000 stockholders hold ERHC in street name) it has and the international makeup of its shareholder population -- both of which can create unusual administrative challenges.
Lickety: I haven't heard you say. Are you a shareholder and if you are did you participate in the rights offering?