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Thanks for the post.
The definition of ASSET POOL is critical here.
If he is talking about investors only, then parallel trading would seem in order, while if he is meaning to setup a 'new' entity on AIM using a grouping of assets belonging to ERHE, then we are talking an entirely different animal.
I'm guessing the latter, and hoping the former.
I would imagine there also is the possibility of an IPO using PREFERRED SHARES rather than common shares (if AIM allows). It would have less impact on the price of common, but frequently has options attached to later common purchases which would dilute us at that point.
I am not in favor of this particular type of move, but it is indeed possible.
I won't be surprised by an eventual overhaul of our entire share structure some where down the road. It definitely needs fixin.
Not all reverse splits are the same.
Unfortunately, there is a ton of ignorance on the topic, and those hell-bent on believing only the bad will always refuse to attempt to understand the useful purpose of such a move, UNDER SOME CIRCUMSTANCES.
Edit: And Fishdog laid it out well.
I will agree with you that a reverse split makes sense with the move, but only if there is a corresponding revenue stream shown. Otherwise, I think the downward stigma attached to a R/S would gain too much traction. We need to show we are a company building to the future before considering the reverse split.
I'm actually more concerned about how the mainland based brokers (like Ameritrade, E-Trade) are going to handle a move to the AIM. Those details will be important.
And thank you for sharing.
Well, the dot connectors were unanimous that SNP had bought millions of shares in the high $.80s right after PSCs were signed, so with the current purchasing going on by China, we should be seeing SEC documents any day now.
I'll keep an eye out for the filings. http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ERHE select the FILINGS tab
As for the current volume, I remember the regular trading days used to be higher than this - for months on end, almost always over a million. Today's volume would have been considered a light day. And that was when there were fewer shares out by the company too. We aren't really approaching what I would consider to be an active day, but yes it is more shares moving around that we generally see any more. Personally, I don't read a whole lot into this volume, but I do note the change. Hopefully it is indicative of something else going on, and hopefully that something is positive.
JMO.
Edit - chart volume from 2003 to 2007 and compare to current.
Oh brother. Here we go.........
Thanks for the information - I think!
And thanks TamTam - I will look into that.
Thanks for passing that along. I will find a way to contact him and help keep this board clear.
Thanks to you and the other mods here - I know this board is made up of a bunch of differing personalities and challenges you all daily.
Nobody thinks that? Really?
I don't have a month of free time to go back and count the posts insisting a buyout was/is imminent, and it would need to be at a fair value of over $4.00 .
What does a buyout tomorrow do if it doesn't change the price?
It would have been safer to get caught attempting to kill Caesar or King David than admit on this board any trading activity in this stock.
Remember Rob, only traders make the price of a stock go down (well, and the evil market maker), and they never make the price go up or add liquidity to the equity.
Apparently there has been a lot of teeth-cutting done here.
We (you, me and a bunch of others) all used to have fun predicting highs and lows and trading stocks, but that atmosphere simply isn't acceptable here. It is what it is. I prefer to not paddle upstream, especially when I have a small electric motor on my canoe.
I recognized the voice right away. Those dots were easily connectible to people from Pal Talk.
We all believe this thing is going to the moon. But it may not go directly there.
My money for ERHE has been all fun money. I don't see how anyone could have done otherwise.
I have a son starting college in fall too - Private college. Saved for this moment for the past 17 years. I wouldn't dream of putting his future in doubt on some penny stock. At the same time, should this hit like I suspect it will, he won't have to work for long either!!
Hope you have a great evening!!
Thanks for taking the time to post this for our board.
Well stated, and in my opinion, one of the more accurate posts here in a long time.
If you are referring to the increase in oil prices recently and the lack of parallel movement from ERHE, that has never really been the norm, moving with oil or the market changes in general. Many here try to correlate, but it simply doesn't apply to us. For whatever reason.... perhaps that we don't have any tangible assets yet.
I expected nothing less of STP Homeport, did you?!!
Thanks for keeping us informed.
Wait another 5 or 6 years and you'll understand how most of us feel now.
I figured someone wouldn't like it!!
It is actually a very good site for gathering information in a quick method. Sometimes perception isn't all is seems to be. You know - don't judge a book by its cover.....
I know you have a little tongue-in-cheek here. Personally, I haven't bought a pink sheet stock in years. But I DO use the site!!
Try this link
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ERHE
Click on the filings tab
Thanks. It sounds like ERHE is still moving forward with the belief of block rights in 5 and 6 anyway.
I don't recall hearing anything about the block 5 and 6 situation. I know it crossed my mind during the CC, but I was not available to do a phone call. I do admit to missing pieces through the CC though.
It's certainly something we need to know if it wasn't disclosed today.
Why should it have not taken place? ERHE has a responsibility to put out its financials to the public, and making a conference call to discuss them is not out of the ordinary for a company. For years, people have griped that ERHE management refused to communicate with the shareholders, and now they communicate on a regular basis. The problem today wasn't that they held a CC, it was that they didn't want to talk about what shareholders wanted to talk about. We got exactly what was advertised - a communication about the most recent financial details. Those who expected more than that apparently didn't read the press release as to what was going to be discussed.
I fear that the annual meeting (which I think was supposed to be late in 2009 originally) will get done in April. Peter may just take a sick day for that one if the drilling results haven't been released by then.
You know what they say about learning from history........
This investment is a PATIENCE thing.
Except for the imminent buyout tomorrow........ LOL!!!!!!!!
They disappoint because we base our expectations outside of what the CC is created to do. They called this CC to discuss the financials and shareholders turned it into a referendum on drilling results.
Sometimes things are what they are stated as being.
We continue to be our own worst enemies. And now we will rant and scream about how useless management is for doing exactly what they said they would do - discuss financials and wait for operators to release drilling results.
Because if they don't everyone will whine for one.
They are in a no-win situation regarding that question, mainly because the information shareholders want is the exact information they are simply not going to disclose.
It really is pretty simple to understand, but also the frustration from shareholders is understandable.
I think Peter is trying to tell the investment community that it takes time.
And he is continuing to do it politely, for now!!
You really aren't missing much. A pretty standard call, with little new information that you feel couldn't wait for later today.
Careful on the giddy-meter there Troy. You may want to stay alive and enjoy this.
Thanks Homeport. Once again you come through for our board......
I agree - would be appreciated as Ameritrade appears to be sick today.
Thanks.
I hope you are correct, and I think in the JDZ we will learn a tremendous amount. But I fear DRSTP will find a way to mess things up in the EEZ. We get them to accually deal with their blocks, and we are gonna learn a ton. That would mean allow the selection of the 2 100% and 2 25% blocks for us, and also the bidding and outcome for that bidding on the remaining blocks. I fear that is too much to hope for!!
If indeed we are going to move forward as a holding company as I think now is likely, then the proceeds we get through the deals cut for operatorship/partnership of our EEZ blocks figures to supply the cash needed to get involved in the shallow water oil recovery the company is talking about. I feel that we are not likely to leverage our JDZ assets for those ventures, or at least I hope we don't. I don't want to see us take on any debt or sell stock, common or preferred.
IMO.
Absolutely agree with your comments. It will indeed be interesting to see where the company goes from here as Offor appears to have a bunch of clout. For me personally, I kinda always leaned to the buyout side AFTER a realistic determination of our assets could be made, with Chrome being our eventual suitor. I now have a lesser feeling that will be the outcome. Unfortunately for me - and apparently many others - African time was never in my calculation!! I have become, as you suggest, more than all in - yes. And I agree with your read that perhaps the anger over what Offor worked out in the agreements years ago may be finally getting set aside. I hope so anyway, as waiting another 5 years for drilling to commence in the EEZ will be tough to swallow. Hopefully that can be accomplished within 2-3 years, or even sooner. Who knows.....
Meanwhile I will continue to show patience as the only other real option is to sell. It sure feels like the next year will be very telling for our future.
Did you get the other dozen people yet?!!!!
I wish right now we had millions of shares shorted. But the truth is we cannot find any evidence of shorting having any amount of pressure on our stock. It makes for a great rallying call, but proves fruitless when facts are requested.
Traders will trade forever. It's what they do. Who cares? And why? Are they trading the oil/gas/condensate that it is our blocks? Not that I am aware of. So if that is true - they really only affect the day-to-day with the stock, not the overall outcome of my investment. I say let them play. And the more that short us the better!!!
My only concern is when the truth comes out of what we have in our blocks. If the results are as we hope and expect, the fun will begin in earnest. Hopefully there are tens of millions short the stock prior to that announcement.
So much concern here with so little of importance........
We are OTCBB because we belong there right now.
IMO
And all the other prospects in our blocks that haven't been drilled.
Yet, the many here believe a buyout is imminent.........
I believe it was in a Barry Morgan blabbering months ago. That alone practically kills its chances.
It most DEFINITELY was in print though.
100% agreement here with the post.
Thanks for the response.
$2 per share probably wouldn't make many here happy, based on the postings of board 'experts' for a bunch of years, and their lemming-like influence on this board.
Just a hunch.
Define decent, and please explain how you come to that particular price.
Thanks.