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Hutch:As someone who has done pretty well in the market over the last 30yrs and currently trades 150 times+ per quarter, imho you may consider taking your *total cost + 25% out in the near future, and letting the rest ride for a longer term. That way if other opportunities arise with other issues you will have that capital to play with, if you wish you can also purchase later on a retrace, but you should obviously be a trader familar with TA for that even then it is a real ?.
Just free advice, and likely not worth anything to you but what I do on big movers is:
1. Sell a # Shrs = off after they go up very substantially, 2,3,5,10 baggers, depends on the TA analysis and news, but I include a figure of 25% profit on those shares. So if your total investment cost including in & out comms is say $5000 x 125% = Sell enough to cover $6,250 after a significant rise. Depending on the action it may only take 1/5 of your total shares.( That profit will likely get eaten by the IRS unless you qualify for 15% Cap GAIN .
That way 80% of shares are protected and worst case, even if the company does an R/S or goes BK you are fine relative to your investment.
BOL
2.
Oh I C......We responded to different things then.
BOL
AMS
Wasn't suggesting combining accounts.
When I took a company 401 rollover my CPA told me to convert it to a roth and he did by me paying the tax consequence over 10 yrs and filing some forms
Kob thanks I had just gone back over it and seen the same thing seeing the PSCs were done on the 14th just add 10 days.
Hopefully we will get the $ and have a PR Monday
ERHC Energy Inc. Announces Production Sharing Contracts in JDZ Blocks 2, 3 and 4
Friday March 17, 3:27 pm ET
HOUSTON--(BUSINESS WIRE)--March 17, 2006--Walter Brandhuber, President and CEO, of ERHC Energy Inc. (OTCBB:ERHE - News) announced today that on March 14, 2006, a subsidiary of the Company entered into a production sharing contract with Addax Petroleum (Nigeria Offshore 2) Limited ("Addax"), several oil and gas companies, and the Nigeria-Sao Tome and Principe Joint Development Authority ("JDA"), to conduct petroleum operations in Block 4 of the Joint Development Zone between Sao Tome & Principe and Nigeria ("JDZ"). Mr. Brandhuber also announced that on March 14, 2006, a subsidiary of the Company entered into a production sharing contract with Addax Petroleum Resources Nigeria Limited ("Addax Sub"), several oil and gas companies, and the JDA, to conduct petroleum operations in Block 3 of the JDZ, and on March 15, 2006, a subsidiary of the Company entered into a production sharing contract with Sinopec International Petroleum Exploration and Production Corporation Nigeria ("Sinopec"), Addax Energy Nigeria Limited ("Addax Ltd."), several oil and gas companies, and the JDA, to conduct petroleum operations in Block 2 of the JDZ. Addax, Addax Sub, Sinopec and Addax Ltd. are required to pay all of the Company's future costs in respect of all future petroleum operations in Blocks 2, 3 and 4 of the JDZ. They are entitled to the Company's share of cost oil until they recover the Company's costs.
ADVERTISEMENT
The Company's CEO Walter C. Brandhuber commented by saying, "The entering into production sharing contracts in Blocks 2, 3 and 4 of the JDZ represents an important step in our goal of commercializing the Company's interests in the JDZ and increasing shareholder value. The Companies' interests in the JDZ blocks represent the cornerstone for the Company's future growth strategy."
In November 2005, the Company entered into a participation agreement with Addax with respect to Block 4 of the JDZ where Addax paid the Company $1.35 million, and will be required to pay an additional $16.65 million on or before March 24, 2006. In February 2006, The Company entered into a participation agreement with Addax Sub with respect to Block 3 where Addax Sub paid the Company $500,000, and will be required to pay an additional $7 million on or before March 24, 2006. Further, on March 2, 2006, the Company entered into a participation agreement with Sinopec and Addax Ltd. with respect to Block 2 where Sinopec will pay the Company $13.6 million on or before March 25, 2006, and Addax Ltd. will pay the Company $6.8 million on or before March 25, 2006.
The JDZ lies approximately 200 km. offshore Nigeria and is adjacent to areas offshore Nigeria where several large petroleum discoveries have been made. The JDZ was established in 2001 following ratification of a formal bilateral treaty between Nigeria and Sao Tome and Principe. The JDZ is administered by the Joint Development Authority.
Safe Harbor Statement
This press release contains "forward-looking statements," including statements about ERHC Energy Inc.'s future operating milestones, financing plans, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to the Company's ability to exploit its commercial interests in the JDZ and the exclusive territorial waters of Sao Tome and Principe, that may cause the Company's actual results to be materially different from any future results expressed or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, nor is there any assurance that the contemplated financing will be effected, under the terms set forth herein or any other terms.
Alwright:
If you read my posts I an quite sure I mention both and explain both. The tax issues are defined therein, at least from what my bother tells me they should be correct. He is an Enrolled Agent with The IRS so it better be.
If something is incorrect please let me know and I will take it up with him I can email any necessary reply to you if you would like.
The subject I was addressing to Bobwill was not rollovers
However rollovers can easily become Roths I did it, you just pay the tax consequence and it becomes a Roth.
BOl
Ralph all dates according to the Form 8k are listed as payable 10 days after a PSC s are signed off on.
I did however see the 3/24 & 3/25 other dates in PR articles, not sure why after reviewing the FORM * K dated 16 Mar 05 titled Entry into Material Agreemet Item 101
Good observation on the date contradictions
BOL
Bobwill you have mail
BOL
Larry go to the DFIB board on RB that is where I usually hang out. Nice group of guys and some good DD & Tips
Just came over here to see if there was any DDon the stock.
I bought it as a MOMO play the other day and got stung so far anyway.
Al
Roths are IRAs and there is NO tax
Reg IRAs are sheltered until you withdraw, then you are correct they are taxed as income, but FIRST you subtract your contribution that is *not taxed, *unless you qualified for Deductible IRA then it all is
bobwill: retirement accounts
You have a limit on your Roth
Your wife has a limit on hers
Roths to me are the #1 way to invest.
Max out yours and your wifes each year> Then if you are a good stock trader it is a wonderful place never to be taxed again.
If you are a less than average stock trader then i would look at high yields ALD,ACAS, PTF, PTY, RAS, PHT all mark as reivest the dividend. 1st two are stocks with great div records, PTF is a Petro Trust, PTY, PHT are closed ends, Ras is a Reit.
I have one set of accounts for trade and one group for high yields/ smaller appreciation My ref were Morningstar and Rueters and some other misc.
Coverdales are new to me ?
Rule of thumb is #1 max 401 to the level it is free contributions by the company, then #2 right after you attain that 401 % break hop to Roths and fill them 3. Then hop back to 401 and fill them then do Separate after tax IRAs if you can.
Good Luck and have fun!
Larry: you in this stock still?????? lol
I have some, at .58 unfortunately it is sinking on me.
Best
john
Larry: you in this stock still?????? lol
I have some, at .58 unfortunately it is sinking on me.
Best
john
RED: hear ya on the Cap gains, but mine is in Roths an other IRA rollovers, so there is noooooo tax now and in Roths case NEVER.
So Bring that Buy OUT at $25 per share on..... Lol
BOL
Manti: I hear you on the volume, but imo part of this SP increase may be traders for a potential pop SP when we have $50M due by 3/25.
BOL
juker: I frequently trade, some day trades on momo,but most a few days, weeks, months(not too common.) The retraces highlighted on the charts are nice overlays on the charts. I have to figure my own using Fib and then set alerts. lol
I use Charts, Candles, Momo, Vol and Fundamentals, 1 and sometimes all. lol
Sounds like you are doing this much more than I, I make maybe 120 trades per quarter.
BOL
Thanks for the comeback!
Rufny: I have sat on the sidelines after getting out with a .20 gain a while ago. I am getting back in today as a result of pending earnings and the 3M in tax savings due to the discontinuance of the chinese tax, which should just start to show up this qtr.
jfyi
There also is an active board on Raging Bull
BOL
Bet Some REPORTED got the STory LEAKED for an obvious attempt at discredation by a VERY HUGEEE SELF INTERESTED PARTY$$$$$$$$$$
Well it didn't work so now we can expect more! jmho
What BBSSSSSSSSSSSS
BOL STAY LONG & STRONG
Dadd:
Don't see what the big deal is on bribes> Anyone ever having done business around the world, including biggggggg companies is almost always involved with them. Any body dealing with Mexico for instance, knows full well.
I think this is an effort to bash and I smell $ gains if it worked for someone, perhaps Chev. isn't beyond leaking some mis-information, or mis-emphasizing this in hopes of a big $ gain.
Or the country itself is looking to make $ off it through going to a higher bidder.
As RR said the fish rot starts at the head(something like that)
Long & STrong - No tree shaking BS is moving me
We got a stop of the bleeding and appears to be a change of direction. If we follow up tomorrow with a 3-6% gain on some volume that would be very impressive.
$50M coming in on 3/24 when that is announced I think we get at pop
BOL
juker: nice chart, what are you using for that chart? Do you have a link?
TIA
Gateway: Actually I use my level 2 alerts and avoid stop loses they seem to get called and then the stock goes up. I like to use FIB retraces alot and set my alarms, as long as I am going to be around. Stops are dangerous in a sector bull trend imho.
I can't figure ERHE they have almost an iron clad guarantee of $5-$10 worth due to recent agreements and the stock just languishes. I am thinking retrace to atleast the 50MA, and perhaps into the low 50s, since they will have a dry spell on news, aside from 3/24 when they announce $45-50M infux from consortium partners should get a pop from that.
It has projected 6BB reserves in it blocks and 4 blocks not yet projected much.
My opinion is MMs are gathering up all they can and when the sellers dry up we will get a boost.
If you get time take a look and let me hear your opinion.
BOL & TIA
Gateway: for now just watching the crisis further develope. Man it is amazing.
OT Ruby:
the onshore/shallow water exploration ref. in the article must continually be a major concern. This morning CNBC had further news of attacks against the onshore oil fields in Nigeria.
Onshore seems to be an ongoing violent mess and I think we can be very thankful that it is not where ERHE's interests are.
Good morning btw
GL2ya
Board: I have a lot of ERHE_MSEV_ PTLL_ along with a little of HOGC and a lot of PTF and a bit of PCZ and 20 other non oil:
Any thoughts on the above?
I am short term atleast long.
TIA
GLTYA
Gateway: **Very NICE ** job on the board, KUDOS!
TRADE2MUCH
What about Gas$ in ERHE Blocks, anyone see any refef.or $ projections etc for them, or is there some reason to believe there will not be any?
TIA
BOL
69 charger:Thanks 4 the reply. Acquisitions, especially *acretive ones are very welcome especially if you have to use your stock to make them vs cash. Stock acquisitions, well I would prefer $ used if possible, otherwise you tend to get more new issues to do more acqs and it tends to snowball sometimes with the SP suffering mightily as dilution is almost always the case. The street also views $ or $ and stock as preferrable to soley stock.
Oh well,imo first they have to make something with what they have and get some free cash and earnings started.
BOL
69charger thanks for the DD info. Most are dealing with Boyne lake project, even though Whitemud is listed on the projects tab on the web site also.
News will help alot, but they need it to be strategically placed apart by a few session days and then skip a week and do it again lol ( my dreams always)
69 charger so the program is worth an estimated 12wells x current priced reserves each 8M=$96M total in reserves collectively for all the wells.
Is my may right according to the article you just mailed me.
Thanks for the article/ What then is the value guesstimate for the SP in the near future?
TIA
Mr T after 30+ yrs in the market I truly appreciate the wisdom of your quote. Good things come to he who waits.
Emotion rules the SP and Patience is logics friend, normally losing is emotions buddy. lol
stay the course: thanks very much on the gas perspective. eom
ERHC has phenomial potential for those that have patience and for those who want to flip well your out of luck for a while. Regardless of you strategy. Personnally though I wish many would just get on with things. Whatever Chrome Oil does with its 303m shares out of the 710M OS is much more relevant than any message board hypothetical question posed by Merridian who then got crucified by many for stating a hypothetical.
I hope the board can appreciate that poster's contribution here and not just relentlessly criticize him or attack what he says on one theoretical subject which isn't being mentioned by the company.
imho The issue has been veted and I really hope we can all now just appreciate the diamond in the rough, with out getting distracted and tangled in the rough.
Keep your eye on the ball.
jmho BOL TA
Ruby TIA GAS$ Any here have projections on the $value of the gas in the Blocks?
TIA
BOL
WOW now that's an inquisitive approach! imho These boards will not disuade anyone who has done DD, and any who have not, should not invest anyway. If a message board convinces you to buy then there is a real problem. You must think there is a huge number of ignorant investors out there just waiting to buy and who will not do any DD, or perhaps you feel that if it is mentioned here the company may actually propose it. I truly doubt it since 303 million shares is owned by Chrome oil to begin with, and they call the shots.
The stock is fine and it will be in the foreseeable future, there is no need to be nervous relative to this issue, no one is bashing.
In any event, this issue has been vented and I feel I need not beat it to death further; so you will get your wish.lol *However I am not too worried about scarring off potential *long term investors *imho They would be short term traders, not long term investors, and there are plenty of them to begin with, *their profit taking held us back the last two days, so if they don't buy it is no great loss we will go north with fewer retraces, but more meaningful ones. jmho
R/2 thanks for the perspective, regardless this one is a tiger. eom
Ruby: I agree, but my wife already feels like I invest 2 much.lol
Tell me about the GAS I am not aware of it or its potential. Please fill me in
TIA
BOL
Ruby: 5&6 coming and 4 more in STPEEZ 2 with 100% interest and 2 with 15%. The potential of those blocks is thought to be similar to JDZ and hold Billions of barrels.
When we look at current SP, and I have seen figures up to $5.91 depending on oil price; we also need to add on a sizeable amount per share to this for STPEEZ blocks 7,8,9,10 imho
BOL it sure looks like a great call!
Dane:not to attack, but how do you figure dilution? *Fewer shares divided into the same gross earnings *usually is not construed that way, I am missing some thing. Perhaps I'm unaware or misconstruing what you mean. Dilution is normally associated with *additional offerings* but not RS to my knowledge.jmho
Basically if you had a Share value of $10, and you do a 5 for 1 reverse, the stock then becomes worth $50 the EPS would also increase far as I know based on the same earnings with fewer shares. Then due to the high probablility of a potential listing on a major exchange, and meeting major institutions SP guidlines, the demand for limited shares would cause the price to *increase, *not decrease.
The Sales per share increase as does the earnings and other value fundamentals, *unfortunately if there are loses, yes they will also.
Doesn't have to be negative though I agree it normally is. The reason I think it would be different here is ERHE would be doing it with VERY GOOD ASSETS and A TON OF CASH ON HAND and fantastic proven potential. Also, Cash per share increases interest for buyouts since again you have fewer shares.
It is merely a discussion and likely will never come to pass, but imho we should not, out of hand, perceive it as negative *in this case, without a lot of thought on the pros and cons.
jmho but it is always good to analyze
Merridan:ure singin to the chore here. ihm folks see R/S and they see a death knoll, but as you point here, and as I tried to point out two days ago on RB's board, it can occassionally be very healthy. *The boards certainly get hostile at the mere suggestion, they treat you worse than a basher or short,lol On RB one poster called me a clown, and idiot for suggesting such a thing 2 days ago. It is just the RS stigma I guess. As if I want to dilute value on my small but valuable 30k shares, yeah right.
On RB I suggested the following and was almost tarred and feathered lol:
1. Many Institutions and funds want stocks at a min SP of $5 & $10. In most cases, they are legally obligated according to by- laws not to go below those min prices when buying in to an issue.
2. The listing on major exhanges, which again *heightens demand and *hence SP due to visibility *is made far easier.
3. The market cap is increased as a result of the above. EPS is increased with fewer shares. Price to earnings ratio should become more favorable due to *heightened financial credibity, not being a micro BB stock.
4. RS s are viewed negatively, imo, because many times firms *have to do them for the wrong reasons, as a result of total mismanagement, poor-non funding and low marketcap, as well as SP concerns. *WS hates uncertainty, and transparent false credibility. Couple this with the post RS survival rate track record which is miserable.
ERHE, *if* it ever did one would be *doing it for the right reasons **with cash and with proven $ value of assets, and possibly even with a good current ratio and to aid in meeting listing requirements. Imho it *could* serve shareholders, but I doubt if many will ever see it that way due to the chronic RS stigma and shareholder fear.
***On RB you are frequently mentioned and well respected by many. I would like to personally thank you for your previous insights since they have helped greatly any that would listen.
BOL - Keep up the great work!