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OT: Sao Tome, home of Chinese Arithmetic LOL
OT: make mine a double please...LOL
Cash'll work for me. em
Is Aramco publicly held?
Does anyone know how vested options are treated in a buy-in/out scenario when there is an exchange of shares? Seems to me that everything would simply be adjusted based on the pps agreed to in the deal. Hypothetically then, 1,000,000 ERHE stock options would be 200,000 stock options of the buy-in company's shares on a 5 for 1 swap. Hopefully I'm not being overly simplistic.
OT: Thanks Lil'bit! 36 down, 64 or more to go!!
"The vesting of the shares is subject to the satisfaction of certain performance targets fixed by ERHC's board of directors."
The way I read it, the shares will be vested and excerciseable whenever performance targets are reached. We are not in the loop on what those targets are at this time. The 10 year expiration simply gives him a deadline to "use 'em or lose 'em." For all we know, the board could make Ledbetter's options vested tomorrow.
I am especially encouraged that, at $.43 he's in at a higher price than me! Happy Holidays to all my pals here on IHub!!!
He'll be in Fat City if Oily's pps prediction comes true. Not doing shabbily if the $2-$3 crowd prevails either! Okay Ledbetter, party's over, now get to work!!!
Pup- Very significant news and post. Thx!
If it were a snake it woulda bit us!LOL
Offor = Orpheus
ERHE = Eurydice
Cerberus = Three-headed Consortium
Offor lulled the Cerberus to sleep, then rescued ERHE by making a better deal with Aramco?
OT: I have a Submariner and a Datejust. ERHE may get me a Daytona!
14 days and long term cap gains apply to all my shares. Yea!em
IV ought to be called "Investors Pillaged"...
Dan- Nice work.
JDubs (Your new neighbor up the road in Decatur.)
Hey Oily, since some of us base our lives on your teachings(kidding...)is the Cerberus reference tied back to the Three Dog Night "One is the Lonliest Number" reference in early November?
Also, if/when your predictions come true, will you ever reveal your true identity?
JDubs
Significance of Aramco? Em
Ledbetter sounds overqualified. Good for us. Makes me wonder if this is the first of several announcements. I'd also have thought the new CEO would be hired first and then they'd get to pick their team. Don't know what it is, but my gut says there is more to this hiring than meets the eye.
A quick poll. Are any of you who've held your shares longer than, say, 9 months going to buy or sell based on Oily's or anyone else's posts??? Didn't think so. Oily keep postin' brotha, I enjoy your stuff and if you're right all the naysayers can line up to kiss your backside. If you're wrong, you can join the ranks of many others here, myself included.
Ruby, $15 would require ammonia and, more importamtly, a new pair of shorts :)
OT Oily- I am standing at the Asian Elephant area at the Ft Worth Zoo and thought it a funny coincidence.
I hear ya Mark. Compared to many here, I'm a newcomer at 2 years holding shares. In that time I've pinned hopes on BM's words only to have those hopes dashed. Tough not to be a tad jaded. I have not followed Mr. Morgan's writings in depth enough to make a judgement. I'll retract the latest and any other derogatory posts I've made about him. I just hope there's something to all of this! J
Two weeks ago I thought BM was a hack. Still do and, were it not for his news being essentially a confirmation of several things we've been hearing I'd still say he's full of bologna. That said, I'm excited too!
I vaguely recall a lot of doom and gloom articles about ERHC prior to the block awards and then again around the time of the PSC signings. As Dale Carnegie once said, "nobody kicks a dead dog." Long and strong!
OT:I'll never be over Macho Grande...em
Stuck in traffic on the coommute and I am was just pondering the idea of my personal price at which I can be taken out of ERHE altogether. 2-3 bucks and I'm0keeping the bulk of my shares. For a group or a major oil company to take me out completely, they'll have to pay 2-3 + my aggravation premium of at least another $4+ dollars. Been here for a couple of years and gotten too many new grey hairs to settle for less. I'm curious to know how other feel. What's the pulse?
OT: my dream (and my wife's nightmare) is to learn to fly an airplane...
From their wbsite.. Also noted that the firm's got a few positions to fill themselves...Millennium Private Equity will seek to make Investments, typically of between USD 20 million to USD 200 million in size, through a variety of structures, including without limitation:
directly negotiated acquisitions of controlling or minority stakes
buyouts
the provision of working capital or other debt financing in exchange for equity positions
the contribution of non-cash assets (i.e., equipment, technology, etc.) in exchange for equity positions
participation in investment tenders
participation in privatizations
toehold investments in securities of companies in connection with a plan for an increased equity position over time
the creation and funding of companies in which new capital can be invested to enhance the value of a group of assets
partnership interests, and
acquisitions of other equity, quasi-equity and equity-related instruments.
Heaven knows many here are evangelical about this stock!
In Calvinistic terms, the longs here would be the ERHE "elect". LOL
I didn't stay at a Holiday Inn last night or anything, but I wonder if there is a dot to connect between Spence Abraham and Howard Jeter; both Clinton Administration officials. Also the timing of Jeter's entrance onto the ERHC board would appear very, um, coincidental to say the least. Just a hyposthesis. Political hacks stick together, even in business. The DOJ could've been IMO,a partisan maneuver by a right-leaning supermajor on the outside of ERHC lookin' in. The recent U.S. elections may have strengthened our hand. All IMO. P.S. Not intended as a political statement.
OT: HP, I noticed "notnot" and "nono" in some of your posts as well as news pieces out of STP. For us less-travelled types, what do these expressions indicate?
Or "Chilly Billy" LOL
I'd be curious to know which ex-Exxon guys are at Addax. I know there's that ex-Chevron fella.
Another perspective... If in fact a deal was presented and rejected, the suitor may have asked for an opportunity to surrepticiously go back to the drawing board? Hence no announcements. If nothing was in writing, then certainly no proof of anything occurring. As we all know, Offor and ERHC management have elevated secrecy to the level of "core competency".
I thought Dadd shut it down when Dan Keeney came along? I think we all expected a bit more frequency with ERHE updates from the company; Dadd included.
Mine's 12/23, but I'd gladly take some big new on your B-day!
Oily, when does "E" speak? em