How do you know?

ot Oil stocks were down in my country too. I noted this comment on RB:"You have made the best posts today along with mark!" It referred to your posts. I am proud to be your spiritual brother!

The group that aborts the signature now might face the accusation in the election that the money the budget is based on will not be there because of them. A bad deal may be better than no deal to STP since the country is strapped for cash.

If oil is found I suppose the real income for STP will be in future tax revenues, which will be a lot higher than $ 58 million.

You have been a basher too from time to time?

chuck

I think you may be comparing bid and asked prices. Right now the bid is just about 53 cents.

The stock price must be hundreds of percent higher to enter a higher exchange.

If he more or less knows that there will be no news or weeks your reasoning holds water, because then the price is likely to slide. My impression was however that he wanted to support the stock price rather than make money for himself.

The implication is that there are a lot of sellers of this stock at this price.

The bid is more or less back to where it was before the attempt to move the stock price by the CEO. Was it a bluff?

3 market-makers bid 38 cents!

Asked has reached 37 cents!

Just one market-maker left at 36 cents.

It is usually easy to buy 5,000 shares because that is the lot normally offered. If you have a big order my experience is that the smaller orders tend to get filled first. The alternative would have been that the large order got a partial fill.

There should be a fill now because there are a number of market-makers offering shares at 36 cents. It is strange if there is still no fill.

Day

At the time of the posting there was only one market-maker offering shares at 35,5 cents. 5,000 shares are usually offered. Hence it is hardly strange if you don't get filled unless there are sold a similar number of shares as the number you want to buy.

Increased my stake to 170,000 yesterday. I hope the stock price will finally have a break-out.

Manti

There could be traders buying too?

The volume of trading of this stock is low. It can easily be a considerable numbers of small traders buying and selling stock as they find advantageous. For months now the trading range has been about 30 cents to 40 cents. It the stock price doubles there will no doubt be offered millions and millions of shares.

ot walkdog

Thanks! I understand your explanation. What I don't understand is how a person who does not speak English could come up with this expression a couple of years ago when we had a conversation.

ot TheDane

Thanks for the attempt to explain. I may be slow but I still don't fully understand in what context the phrase is used.

I had expected the stock price to drift towards 10 cents and I might have increased my stake again if that happened. Hopefully ERHE will spurt shortly so that I can move some money back to CNCN. I agree that it is encouraging that the CEO spends some money to prop up the stock price.

ot What does "you da man" mean? I have wondered a lot about that term which is unfamiliar to me. What has me wonder all the more is that this phrase has been used by a neighbour of mine who has not learned English!

Remarkable

"A valuation of $200 million bucks is quite remarkable for a company that has nothing but promises for assets"

I agree with your assessment and disagree with the majority here who seem to think that this stock is absurdly underpriced.

If he bought them in a day or two the stock price would spike but retreat afterwards. Now he can presumably establish a floor as far as the stock price is concerned by buying some shares if the stock price reaches a certain level unknown to us. I don't think he does this because he thinks it is a good investment for himself but to keep those who bought convertible debentures with a conversion price of 35 cents a bit more happy that when the stock price languished at about 16 cents.

A stock buy-back is a joke for a company that is losing money. It will probably sell some shares to buy back others. Shares are sold at a discount to market price presumably and buy-back at market price. This is no great deal for shareholders.

I agree with your view of the STP EEZ. I have questioned the real value of these rights for months,STP politics being what they are.

Very good overview oilman as far as I can see

I agree with all that. There may be other contracts brewing. But it is also a point that this first contract was supposed to make it easier to sign more contracts. The fact that this is delayed for months hardly makes it easier to sign other contracts in the meantime.

I have never thought it will take a year but I think it may take a few months from now. Remember that this information was given very recently. The testing had been going on for months when the Cintel was informed about the decision to test more.

I assume it is more ¨likely than not that Cintel will get the contract even if there is a very real possibility it will not happen. But I am less optimistic than you as to when it will happen. In the meantime the stock may get oversold.

I think most of us agree that the time frame was couched in so definite terms. It looks as if the company had good reason to feel pretty sure that the contract would be signed before the end of the year. Things can always go wrong and the company should allowed for that possibility.

We disagree about that.

My guess is that sizeable contracts will be entered into eventually but it may take time. This stock may or may not be dead money for a few months now. A knowledgeable poster on RB had a rather negative take on the news.

I take it that quite a few of the shareholders of this company are impatient traders who don't want to stay invested given the undertainty when there may be good news. Thus to me the stock price seems poised for a further fall. I also guess that the Korean investors who bought the debentures feel they have made their investment on the basis of assumptions that did not stand up to reality. After this news it should not be assumed that they know more than us. Therefore the conversion price is no longer a good pointer to where the stock price should be now.

How far can the stock price fall? My guess is that it could fall further to let's say 10 cents before long.

I agree that it may be of use to have access to money even if that money is balanced by similar debt. I consider it more likely than not that the contract will be signed at some time later this year. It is only if this company continues to be a big failure when it comes to revenues that the investors take a big risk. If it is moderately successful it can issue say a billion shares to pay back the debentures. That will not be very benefical for shareholders.

ot I set up a new account but did not get a new identity. Norton stopped an attempt to get to my computer. I got the page with the message that the page could not be shown when I tried to post.

For some unknown reason I was suddenly deprived of the opportunity to post on RB several months ago. My computer freezes if I try. A point worth noting is that the justification for the delay implies that it is not certain that there will be a contract. If the end-user needs to have the stability proved it implies it thinks it is not certain that it will not be proved. In such a case there will be no sale.

Cash value

What is the point of a cash value when that cash is balanced by the same debt??????????????

Right now I largely agree with Bobwin's perceptions on RB. He is a knowledgeable investor. I think there is a good chance that CNCN will book the contracts later this year but it will presumably take several months and it is not unthinkable that there will be no contract.

I tbink it is more likely that ERHE will soar before CNCN than the opposite. By the way, I felt you were a kindret spirit of myself when I read some of your posts on RB about the PR in October. I felt I could have used almost exactly the same words myself.

Cash

Some posters on RB are badly misinformed. This company now has a lot of cash but the debt is higher than the cash, since CNCN has not sold any shares yet. That will only happen if the stock price makes it attractive to convert the debenture into stock. As things stand that debt will have to be repaid in 2007.