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recall what Pres. Menezes's first action upon re election
FIRE the probe writing hack STP Attorney General
Homeport I em'd BM this week to see if he was going to run another SEO story and he alluded to the fact that he was and was trying to determine the US oil company involved in a possible buy in
FWIW - he did his homework - he has long standing sources from following this issue for 4-5 years
and todays action was more than his story and the financial news
it was something else IMO
Great Day today
- looking for many more like it
Players in chase for JDZ stake
By Upstream staff
An unidentified US oil player is said tro be among an assortment of investors trying to enter the Nigeria&Sao Tome Joint Development Zone in the Gulf of Guinea by acquiring the shares of Emeka Offor, the Nigerian chairman of Colorado-registered ERHC Energy, writes Barry Morgan.
ERHC holds substantial equity in the play, including preferential rights to blocks 2, 3 and 4 alongside operators Sinopec, Anadarko and Addax Petroleum.
The financial manoeuvre is being undertaken through the Dubai-based Millennium Finance Corporation, where former ERHC chief executive Walter Brandhuber is now fund manager with a brief to build up the energy portfolio.
Investors and Millennium Finance may be angling to take a stake in ERHC, drawn from stock sold by Emeka Offor, the company's largest single shareholder, who is in talks to offload at least half his 43% equity in ERHC.
Offor is facing legal threats by shareholders preparing individual and class-action lawsuits.
Their complaints range from compensation for unpaid fees to the alleged usurpation of corporate opportunity arising from a deal he struck with Addax Petroleum for deep-water acreage through Nigerian independent Starcrest Energy, another company he controls.
--------------------------------------------------------------------------------
15 December 2006 00:01 GMT | last updated: 15 December 2006 00:01 GMT
ERHC sails into black in JDZ
By Upstream staff
Houston-based ERHC Energy, which owns assets in the joint development zone (JDZ) off West Africa, saw full-year profits return to the black.
The company reported net income of $23.2 million in the fiscal year to 30 September 2006, back from a net loss of $11.3 million in 2005.
The company said the improvement was largely due to a $30.1 million net gain on the sale of interests in its blocks 2,3 and 4 in the JDX, shared by Nigeria and the island nation of Sao Tome.
However, the company still reported a net loss of $1 million in the fourth quarter of 2006, down from a net loss of $2.8 million in the same quarter of 2005.
The company has no producing assets and so reported no revenues.
ERHC holds exploration rights to six blocks in the JDZ. It has formed strategic partnerships in the area with Addax Petroleum and Sinopec.
The company's chairman is Nigerian businessman Emeka Offor.
new sugar daddy ?
Offor, whose Chrome group is the leading shareholder in EHRC, is indeed very friendly with the Rivers state governor, Odili, who controls Godsonic.
When African Express, one of a string of banks controlled by Offor, was on the verge of declaring bankruptcy last year Odili threw his backing behind the businessman. The Rivers state governor intends to stand as a candidate in Nigeria’s presidential election next year. He has the support of the current head-of-state, Olusegun Obasanjo, to whom Offor is also very close.
GREAT find Rambus
Art IMO he is NOT Selling OUT
more like stepping aside
NON VOTING Trust
he is keeping most of the shares
just cant vote them
he's out - new management in !!
WIN WIN
Re-cap 1. read who is involved
http://www.mpefunds.com/cms/view.php?id=110
2. see what they want
http://www.investorshub.com/boards/read_msg.asp?message_id=15474297
WOW! Great post - Exciting Stuff
Total or Chevron ?
Get Ready !
Buy low - Sell much Higher !!!
Cnn Scandal-hit Jefferson wins Louisiana runoff
Rep. William Jefferson won re-election by a wide margin over fellow Democrat Karen Carter in a Louisiana runoff. He returns to Congress for a ninth term despite an FBI bribery probe in which $90,000 in cash allegedly was found in his home freezer. His presence in Washington could be embarrassing for Democrats, who won control of Congress in part on a platform of cleaning up corruption.
ROCKY and WALLDOG GREAT Finds ...
so .....
Brandhuber [Fmr. ERHC Pres.]
Matzke [Fmr. Chevron Chairman & ERHC Advisor]
Abraham [Ex Secretary of Energy in the U.S. Government] [infulence DOJ/SEC ?]
Big Dubai Capital Investment Group - UAE [$$$$$]
"West African oil fields are at the TOP of the prospective list."
http://www.upi.com/Energy/view.php?StoryID=20061115-035206-4642r
so ADDAX buys EEL and then later ERHC IMO
[after SEO steps aside]
Figure a stock swap 1:4 1:5 1:6 [gets us to $6 BTW as OILY predicted]
and then XOM/SNP or a major by ADDAX
such possibilities oy vey !
ADDAX TSE:AXC new 52 Wk High $33.40
our partner is getting stronger
upload the file at
http://finance.groups.yahoo.com/group/theelephantfields/
under the Files Tab on the left
OILY - please elaborate !!!!!!!
Thanks DAN & Mr. Luca- much appreciated
Angry sorry to see you leave - but as was discussed us iHub posters didnt generate Millions of shares of buying on a rumor
we simply are not that powerful
just didn;t happen for you to attack others with no proof is outrageous
Mark and others here are valuable and take time and personal expense to go the extra mile
Gravity sucks with any stock - this has been ERHEs story all along
GREAT POTENTIAL - Lousy performace
WE are all hoping this will change in short order
odd 3 Million to get us to $.50 and 300k to drop to .$40
MN if we Secured a RIG "Forgetaboutit"
Stocks2Rise CVX is one of the biggest Co's on the planet - they can do what they want - drag out results - throw away wells etc.
Addax is a jr. player - the cost to drill is huge
IMO - Addax has much more to gain with quick results
and I think the JDA has had enough games by the majors
the genious of the ERHC master plan during the 2nd renegotiation of our precious rights was to have smaller %'s in many JDZ Blocks vs. larger %'s in fewer Blocks
Means = PAYDIRT - spreads the risk - increases the chances of a strike
Hopefully we get the full story from BL 1 to peak even more interest
but we all here know where lies over there
the next Kuwait
Oily you did say Feb-March if True = HUGE for us
perhaps that burst of buying was our consortiums securing a Rig for BL 2,3,4
Note only 12 rigs in the WORLD can drill JDZ depths
Cant wait to hear the juicy details
is that pic a potato, a elephant turd or a golden egg?
Fish.. in 6 yrs. ERHC/ERHE has NEVER been halted
Traded every second of every trading day
OTC BB
OTC Pink Sheets
Agree amj-6 Million shares DID NOT COME FROM Ihub
And absolutely NEVER EVER buy based on comments on a message board - unless [you know and trust the poster]
been posting since 1999 on this play and still KNOW NOTHING lol
M A D - DO NOT AGREE at all !
1] selling has been very small - basically 2 - 300,000 shares took us down to .455 - so why are we still holding gains from Mondays run ? if it was a pump and dump -
2] our little forum here on ihub contributes very little to the PPS and Volume - as far as price movement
HAL posted his update on Fridays close and Monday we barely traded the first hour - can you explain that
I think you overrate the power on this board related to buying power
FYI there were new MMs DOMS / SBSH / FANC etc doing much of the buying -
MAD - 10 Million shares / day w / no news - that would be a first IMO
Condor - manipulation with 6 Million shares traded over 3 days
doubt it !!!
Thats $2-$3 Million in buying dollars after being quiet for months, all this with no news
Something's brewing [IMO this roumored SEO take out is a process involving many folks - 3rd parties, current shareholders, current management and legal eagles.
Every accomplished step in the process has given the PPS a boost. [check the chart last 60 days look for the short bursts]
Mondays action was just another confirmation that one more step was done !!!
Speculate - Speculate - Speculate
PPS "usually" tells the [rest of the] story
Knowsbetter - how come you didn't Ave. down at .35 was, 3 yr average
your 1/2 way back to even
1 sweet announcement gets you even same day IMO
2 sweet announcements gets you GREEN
overdue for news!!!
Sea Teathers as XOM / SNP fight for BL 2 ?
DADD - deal hasn't closed yet - stay tuned
I too was impressed with todays pps action after a huge up move yest. [the biggest in some time - and yesterdays VOL was one of more active trading days of the year, we fared pretty well considering
there was 1 full hour during the day not a share traded -which after a 35% run up seemed odd that only a few were taking profits
Notice how the small vol took us down a few pennies around 3pm
I have a felling the folks grabbing those 50k and 25k blocks N of $0.48 are not us small timers but rather some larger players - who know the score
Catbird seat still rules
Welcome back AMS !!
is this a good thing?
ERHC ENERGY (Frankfurt:ERH.F) UP $.12 or 44%
and
ERHC ENERGY (Berlin:ERH.BE) UP $0.09 or 35%
RED - you are a CHARTist - what do you make of a stock that moves 50% [on no news] and has little or no retracement
-BULLISH?
-Somewhat BULLISH?
-Very BULLISH?
-Extremely BULLISH?
Stock Market Alerts LLC: Aggressive Stock Alert! December 5, 2006
Miami, FLA., Dec 05, 2006 (M2 PRESSWIRE via COMTEX) -- Stock Market Alert's ERHC Energy Inc (OTCBB: ERHE),
ERHC Energy Inc. (OTCBB: ERHE) up 34.7% on 3.5 million shares traded ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in the highly prospective Gulf of Guinea
and the development of undeveloped and marginal oil and gas fields. Nicolae
Luca, interim chief executive officer of ERHC Energy Inc. issued the following
update last October after the market closed on Wednesday, October 11, 2006. "To
ERHC Shareholders: "I am pleased to again update the ERHC Energy family on the
company's progress during the past month. "As described last month, ERHC
representatives participated in September meetings of the Operating Committee
and the Technical Committee for the Blocks and in Management Committee meetings
between consortium partners and the Joint Development Authority (JDA). I believe
that the meetings were productive. We continue to develop our relationships with
our consortium partners in the Joint Development Zone (JDZ) Blocks, Addax
Petroleum and Sinopec Corp., and we remain positive about the progress being
made. "The committee that is conducting the search for the Company's new Chief
Executive Officer and Chief Financial Officer has narrowed down the list of
candidates and begun interviewing. We understand that this period of transition
has been unsettling for some investors, but we are convinced that a deliberate
process that leads to the selection of the right CEO and CFO is in the best
interests of the company and its shareholders.
OILY says $6 - so we are running up LOL
50k block at $.40 somethings UP !!!!!!!!
RED - DOMS is BEST BID !!! MMs backing off