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Thanks, I guess we will have to wait for the result one day.
Brez
Dude, no rocks from me.
Just like Umbra made a call one day, you are making one now. That's fine by me. The only thing better, is if you could tell us why, not directly, but more in the form of;
ERHE SP moves higher Monday --7/31/06 due to information that is due to be released. If information is not released, don't everybody pick up a rock! I'm just the messenger.
Thanks Oily for being clearer on your post.
Brez
thanks, your first drink at the shareholder meeting (optimist!) will be on me! Unless I meet 12 guys named texasspeculator!
Brez
Dude, that is not stupidity, that was not a mistake, that pure and simple ignorant of a fact. You do not need to apologize for that.
May I say that the true character of individuals usually highlights itself during time of stress. We are no doubt approaching though times. Perhaps, it is time that we all take a deep breath and be extra polite to each other. This will make the next share holder meeting (optimistic!) much more enjoyable without this cloud of "Oh yeah your Brez, the guy that doesn't know his A$$ from a hole in the ground" style of conversation!
Thank you for all the knowledgable posters that do present many thoughts.
Brez
True, true
Brez
Yeah, but its a great Mac! I'm typing on the same one right now!!!LOL
Brez
Dane,
If you are referring to Meridian being put on the cross, you will recall that M was acting extremely strange. He suddenly developed multiple personalities which did not know or remember previous posts. It then became apparent that M had multiple posters which allowed him to swamp this board with hundreds of post per weekend. This is not, and I hope will not, be Oilphants posts strategy.
My take on Oilphant. He posts what he hears or see, draws conclusions and expresses them (riddles or not). No matter how a persons sees the future outside factors changes events and suddenly his prediction or assessment turn out wrong. I have made many predictions on certainties in my life which did not turn true, due to outside forces that are out of my control. I don't see Oilphant post working as a basher/pumper since many times his posts are not in sync with the SP to actually be an effective Basher/Pumper.
Brez
Thanks you for a clearer post. In your view, do you see the ERHE share no longer be ERHE shares this year (calendar) or next?
Brez
Oilphant,
None of us mean you harm, I for one look forward to your posts, but not the riddles. Since you are good enought to formulate your riddles, you are good enought to understand that the majority of the board members have a great deal of their families livelyhood invested in ERHE. Siting here trying to figure out the riddles, makes us (me) feel like we are you play thing. If your intentions are honest and good, just tell us what you can without getting fired. When all this is over I'll gladly buy you a drink.
Cheers
Brez
Thanks Platina,
Brez
Thanks,
I am very slow lately! Two weeks on the beaches of Vancouver will do that to you!
Brez
Thanks Dane,
Do you figure he meant
"Get it while you can", "Time is on my side", "Stay with me" or "A wonderfull dream"? ;)
Brez
Manti, please, what is the significance of Pink? Yellow I can figure out.
Brez
Anyone, who is Jerry Ragovoy? He might be before my time.
Anyone ideas on what is Pink or Orange?
I've got a cold and I can't even figure out where my bed is!
Brez
sniff, sniff
Oh, as well....
When someone does not like his employer, he gives a notice to leave. This gives time for the company to find a replacement and the person leaving does not burn bridges in his field of expertise (never burn bridges!!!).
When a company as no further need for someone, they simply release them. Time is money, and WB time is probably a lot of money.
Since they did not announce a replacement in the announcement I believe that he was let go. This can be for two reasons;
1) He became unmanageable by SEO: highly doubtfull, people like WB do not burn bridges, no matter how insignificant the company. And even if he did disagree with SEO, the piss off factor would have been gradual thus SEO would have found a replacement prior to release.
2) He was no longer needed because he fullfiled his purpose: this is more likely in my mind.
CIAO
Brez
I also believe the company is changing direction.....everything has a price. WB was employed as a M&A specialist, his part of the saga is done and he is no longer needed....simple as that. We (collectively on the board) always knew that silence meant that there was a high probability of negotiations going on in the background. Perhaps those negotiation have come to a conclusion.
The Chinese have been buying everything under the sun, why would they not throw top dollar at SEO, or rather, why wouldn't WB demand it during negotiations? Once again I'll use the analogy of the hiTech sector in the 90's. Billions were trown at companies who had no product, just ideas. This can easilly happen here, except we have acreage not ideas.
Only one thing, SEO cannot accept offers without a shareholder meeting, we must vote on mergers even if he and friends have a majority, he will have to go through the motions. This means publicize the deal, give time to digest the "small print" then have a share holder meeting. Usually all this would be easier if presented by the deal maker (WB). Unless, off course, if the deal is so good no one in his sane mind would refuse!
In any case, last time we got "baffling news" (Pioneer leaving), we bounced back fairly shnell, I believe we will recover from this one in the next few weeks as well.
Cheers
Brez
AXC now trading light**
brez
hmmmm**
Brez
Wow,
this is the second great speach of my day!
Brez
NO,
And I'm a shareholder!
Brez
Tryoty,
It is my experience that in trying to attract investors/buyers, companies will not swamp the listeners with very technical imagery and statistical models, those are for analyst. For the general listeners, they will have high impact colour charts whose purposes is to demonstrate that; 1) company know what they are talking about, 2) they arouse the imagination of the clients(so they will send their analyst to look deeper), 3) do not make the listener feel stupid or ignorant on the subject. Therefore when I look at these charts, they are nothing more than a general representation suited for the intented purpose and intended audience that the presentation was built for. In previous post I had said that I had worked in Military acquisiton on large contracts. My briefs were built for specific purposes (messages that I needed to get across) designed for the specific audience. Financial people, government officials etc. When I would brief my peers, the brief were incredibly more detailed and technical. If someone would look at any one of my briefs, on the same subject, in isolation, they could come up with very different subjective reasonning. Therefore I conclud that, although the Afren presentation make a great conversation piece, they are not conclusive about what lies where and how much.
Sorry about the long post
Brez
Tryoty,
is it possible that you are putting too much weight on the Afren maps? I looked at these maps on their Power Point presentation and found them to lacking in details and more orientated towards a general audience then to rally world class geologist! It is, however, possible that I have been looking at the wrong maps, could you reply with a link to the ones you are refering to please.
Thanks
Brez
Many ways to interpret this....
The art of deception
"We hit something, we guess" No one guesses, they know they are down playing.
"We'll be back in 2007, no rush" Perhaps, but more than likely down playing to make it look like its business as usual
"drill ship idle, jdz not high priority" more down playing.
I take this post from Oilphant as a sarcastic interpretation of on going current events.
CVX's Kung Fu is very strong, deception is a strong tactic, patience and logical thought process is everything.
Brez
Agree..
this is too soon to have a solid, well prices offer. But, if I were a company with lots of cash and wanting more reserves, now is the prime time to make an offer.
Like I said before, SEO does have a price in mind, if that price is $5 or $10, I trust him to get the best price. Why, he has not failled us yet in getting the best deals for ERHE. So now only patience is required. It's typical, your PPS may be worth $15 in 10 years or I will offer you $5-10 now.
Brez
So ......little help here......I'm still tied to my mast! I've heard of $5 hookers but sirens?
Cheers
Brez
Welcome Jerseygirl,
Sorry you had to come to our house in the middle of a family feud. You see our long lost deranged cousin Mongo as come home reincarnated as a schizophrenic Meridian which has a God complex with no memory but can rattle off errors in 8k filings like there is no tomorrow.
Please, sit back, open a beverage of your choice, belgian beer, moet champagne and vodka with diet pepsi is on tap 24/7.
Brez
(Mac fan)
PS. I forgot the pringles are between the first, second and fourth shelves. Help yourself.
Oilphant, please give us another update....anything...crypted or not. But keep us entertained so we don't have to respond another 8k filing question!!!!!!
_... , ._. , . , _..
OT: Meridian, I am sorry I cannot reply private messages because I do not have a subscription.
I was just trying to help you with some relatively unknown features of Macs that usually enhances customer satisfaction, or at least put a smile on your day since you have been under a little pressure lately.
Brez
OT: Always look on the bright side of life! Did you try it yet?
Brez
Duuuuuude.......
You need to take a humour break.
Do the following on your Mac;
under the blue apple menu clich System Preferences
Bottom right click Speech
You will see Apple speakable items, select on
you will see a circular icon appear with the word "Computer"
Say the following clearly
"Computer" The word will dissapear, then say
"Tell me a joke"
Sit back and answer the questions that your bran new mac will ask you
Brez
Shack!!!!
Brez
I agree with you BB.....
But we don't need posters that jumps on the negative band wagon because they have an agenda, and they believe they can further that agenda because one of the more respected poster and moderator of this board is ticked, and he will exploit that to influence others, not you.
I will listen to just about anyone complaining about this stock because that is our right, but I will not let someone blatantly try to exploit those emotions.
For others, if you believe that I am excessively bashing M, my apologies, I will try lighten up. You all know who he is. (M thread lightly, I only said that i would try!)
This is not a hit against you BB, it is a hit against whomever M is this week.
Respectfully yours, and looking forward to your posts
Brez
Answer to your question
ERHE only has one area of business. Currently being negotiated, no doubt, therefore no comments.
When our SP was down, I believe SEO in his letter to investors, stated that he didn't like it but could not influence what the market dictated.
He could have easily said. "I don't understand why we are priced so low when we estimate that we sit on 14BB or oil. We are currently in negotiation with Devon and Pionneer and if we don't get what we want we are running concurent negotiations with Addax and Sinopec so please be patient, the market will catch up" but I think, I would have been more worried, had he said that.
Brez
Thanks, please, call me Brez. Everyone I know does.
Brez
BB. I know that you are probably aware of this. Meridian just picked up on the displeasure with the lack of PR and is now running with it.
You can equate this strategy to a fortune teller. She/he will say a general comment which can apply to 99% of the population, look for visual confirmation from the face of the client. Upon confirmation that she/he hit a valid point, she/he will milk this point to let their hour run out. Link 3 or 4 points together and she/he can easilly start messing with your head.
Military interrogators use similar techniques, usually in teams. The techniques are simple, effective and the least you are familliar with them the more effective they are.
Brez
You of all should know why!
How many times have you heard Steve Job talk about the value of Pixar prior to the merger with Disney (Just in case you didn't get it, that was a Mac thing again!)
How many times did you here real business people brag about their worth while conducting negotiations?
You may here of CEOs discussing their worth with on going operations in different areas, but never about areas of business that on going negotiations are in progress.
I'm sure you watch lot's of TV since you don't work, therefore do you recall that familliar line from all those cops shows. "We can't comment on on going investigation". In our case, substitute in "negotiation".
Once again, I find this level of questionning to be well below the level of the "initial meridian". Please go get the janitor and put him on.
JMHO
Brez
I'm going to think about that one for a while....
But the value of 1B @ $4.6/ is equivalent (according to my calculations) to the following finds
Block 1 2B with 50% straddle in block 2
Block 2 2B other than straddle
Block 4 2B
Or any combination there of. Block 4 is slotted for drilling later this year. Block 2 I am not certain yet. But overall I think we can definately reach this level (if the oil is there) by summer 07.
Brez
I agree, once again time is everything.
House's to buy, college tuition fees to pay (BB), general life needs makes us all wish that we had more time!
Brez
That was a good article.....
The question is, since Sinopec is already paying for our carry, if they wanted our oil share percentage, wouldn't the $9.6/barrel price value be used vs the $4.6?
In the article they state that they settled at $4.6/ but when taking into account the production cost it works out to be $9.6. We have free carry in all our signed blocks. Any company wishing to have our rights would currently receive all the oil with no production cost.
Therefore our BOD would only entertain negotiation which prospective buyers with prices/barrel at around $9.6/. The tricky part is the estimation of recoverable barrels of oil. This is where the negotiation is probably at the toughest.
The longer the negotiation take, the more rigs will move in to the area, more chances that more oil reserves will be found (from our point of view). One thing that i am impressed with. Block 1 was drilled once and pay dirt was hit. Therefore, I assume that the technology for finding proper formation is such that accurate drilling can occur. If that is the case, then accurate statistical estimates can be made as well (plus or minus uncertainty values).
All in all, I like it.
Brez
That it is, I am now a Cold lake people as of 2004. Soon to be a Toronto people this summer!
Brez