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travel the bright side is 10% of .50 is .05, 10% of .40 is .04 and 10% of .35 is only .035..so see it's not so bad..:)we've reduce our actual cash lose rate by 30 % since we've been at .50.
Obviously this stock is way way way oversold... a bounce shold be coming soon.. back to the low .40s until news.. News may be coming via runners across Africa to the nearest telligraph station.
This really ?@$%%^$$^$>?<? sucks.
I don't know Pete, why are the pirates in Somalia attacking big oil freighters, cargo ships whith little boats. Because they can and it makes international news when you go after the big boys....
Again IMO
I think THE main reason the general investment community is keeping out of ERHE is the NIGERIAN government issues. They are afraid this drilling plan may be delayed or trashed for years until they can solve their issues. Even if they release great results, IMO the stock will not reach it's high until these issues are under control. Maybe OFFER doesn't want the results issued until these problems are resolved. He doesn't want to paint a target on any drill rigs. If there were NO problems right now, this stock would be in the 1.50 to 3.00 dollar range. Noone except US blankety blanks...are staying the course right now. I can't use the bad words (NUT == walnut,peanut and BALLS -- object used in certain sports)or Tam gets mad and deletes my posts.
Anyone interested in getting a fishing permit in the EEZ/JDZ waters, that's the only way we will get any updates.
Crappie??? anyone..We could be the "old man in the sea" and look for our so called whale..:)
P.S. we can bring our own drill and pipe...
Sorry the last sentance of my previous post was IMO not Dan's comment.
What could possibly be on the proxy besides re-election of the same puppets etc. or Issue more shares?,
Drilling info..??? forget it, phase 2 plans--forget it.
The proxy will be uneventful as all of their info as of late.
Oh, I forgot, it will be the reason we go into the .30 cent area next week.
I emailed Dan about any news of drilling this week and he gave the standard answer of they are reviewing and only the operator can issue this type of info.
When OFFER is ready the world will know whats in the JDZ...
Lots of oil and lots and lots and lots of gas....
Yawn :0
IMO , I guess we know who our new partners are then --Petrobas.
OFFER doesn't want JDZ results released until he knows his 2 EEZ blocks, then he can negotiate between Sinopec and Petrobas.
IMO OFFER is only interested in getting the most cash for the EEZ blocks, he KNOWS whats in JDZ. He has interest in the SP at this time, he's not selling at .43... The next bunch of EEZ blocks will add value to the company..
The question is will Sinopec and Petrobas be willing to pay a premium for the unknown..
This is where the JDZ results come in, it will confirm the seismic readings and put a real value on ERHE.
And with new cash and position, OFFER can now buy up quality Nigerian properties and build his oil empire..
IMO the backdoor deal is that Offer convinced the JDA not to announce until HE is ready (a few more weeks will not make a difference to anyone at this point). He will be ready when HE knows what blocks HE will get in the EEZ. Then the announcement of great news in the JDZ by the JDA thus making the EEZ blocks more valuable so he can sell % of those blocks to companies at a higher price, because they will want a piece of the action.
Face it everyone knows(except the shareholders and investment world) of what is in the JDZ by now. IMO -- it is BIG. IMO Offer has put a gag order on all of his cronies on info, investing in the stock etc. until he gets his EEZ blocks secured. Until then very tight lipped...Hopefully they will assign his EEZ blocks within the next couple of weeks and we can get on with this game.
When Offer gives the green light there will be a great run up on ERHE and it's "GAME ON"
What are the thoughts of ERHE and SNP hooking up as partners in the EEZ. I think they will, and also IMO detailed results will be released when they know the blocks they are getting at 100%.
If they know already, results will come this week. Cross our fingers and oil shafts for good news. ERHE $1.35 Friday(11/29/2010) close.
All of this SP nonsense is the work of MM and a group of traders trying(succeeding) to scare people out of the stock so they can get in cheap and make money on the next set of news(which is imminent). They know they only have a few more days to pull this panic off and they are succeeding!!!! Stop selling your positions.
Mainly to verify all of the data collected on the Seismic and actually see were the oil is to drill the best possible fields for commercial production. The BIG news will be when they decide which field is the best out of the first lot. That will be developed first then they will continue more exploritory drills to check out the other fields. Hopefully we will get an announcement on Phase two in April or soon after EEZ is announced.
The ONLY thing keeping up hope that there is a commercial something (oil or gas or both) for me is the FACT that ERHE/SIN decided to spend millions on the optional well. This tells alot of what they found on the first three...Also, didn't they drill the last one deeper? I Need medication.
thanks amj, makes sense.
IMO Chinese not only control ERHE, but also this board. IMO
Assuming we have a commercial field, which entity controls the decision of going forward with the commercial development? Is there anything in the agreement that stipulates that they HAVE to develop the field at this time??? Or can the chinese sit on it for a couple of years and squeeze OFFER and ERHE.
idcc, do u live in california
Try -- Anyone in the banking industry
IMO ANY and ALL news of the drilling results will be released by the JDA...I think SINOPEC, ERHE and all the others want the powers at be of the JDA and EEZ to feel that they are the "MAN" and then they will fill in the blanks or reiterate the same afterwards
Stock2--2012 is when ERHE management will release drill results from these 5 wells, the shock will be so big that the earth will just break apart ... :)
thanks try, very informative.
try, at 442m in revenue what would you think ERHE sp would be?
Krom, I know I'm grunmpy and not happy the last 10 years because I've been wrong and unlucky the last 486 times I've had to make decision or play the lotto. I'm in favor of unluckiness breeds grumpiness and depression.
But I'm looking at the bright side; great scholars are saying the world is going to end in 2012, so maybe someone else can be wrong for a change...:)
Who knows maybe we'll be over $1.00 by then also...
Mid whats to say that the folks that are figuring out what is down there(LOTS OF OIL AND GAS) to take their time and make sure that they do a thorough job (3 to 6 months wink wink) and then legally ERHE doesn't have the results so they don't have to disclose the findings they don't have yet.
Totally agree RED
We should technically get to .45 to put in a double bottom. The chart is still pointed south, which is not good. A double bottom at .45 will make a good base to trade sideways to a triangle break-out in about 5- 10 trading days.. I think buying will start around the 11th/12th of Jan. Possibly a trading day or so sooner, but the 11th -13th looks better. Looking for about 1.5 mil. shares to buy back from late Nov. year end tax sales. When folks figure out how much dry power they have from Uncle Sam, it'll start coming back to the stock.
BECAUSE we have oil, gas, etc. in this area and they know it now.
The deep water just makes them do their DD to make sure there is enough to make $$$. IMO there will be oil production within 5 yrs. in the JDZ and the EEZ will have there information sorted out by then.
technically in trouble today
50dma touching 200dma ready to go below unless we finish the next couple trading days @.58 or above... otherwise we will see mid - 40s again for a couple of weeks..it would look like a 10 to 15 trading cycle to fix the charts..
only hope is news to bring it up, technically it looks ugly right now.
If the 50d moves BELOW the 200d that is NOT a positive thing. Maybe thats why the mm closed the stock up .05 on thurs. They don't really what to fix the technicals at this point, to close to news, but I wouldn't doubt another pull-back for this reason.. probably back to the mid-40cent range til the end of Jan. The only possible saving grace is that there will be a nice buy week the first week of Jan. If I remember we had a sell week at the end of Nov. 09 that many thought was year end selling for losses. So lets see if people believe and jump back in after the 30 day wait for tax purposes. IMO I feel buying will begin around the 5th of Jan and pick up volume wise very nicely through the JDZ announcements at the end of Jan./ beginning of Feb.
Good luck to all and Happy New Year
It's obvious what will happen to me.
We have a commercial quantity field/ fields of oil in the JDZ.
There is a lot of political posturing, investment positioning, etc going on right now and will continue through the EEZ bidding. There will be very little info until the rounds get started 1st quarter. IMO SNP is going to try very hard to get into the EEZ blocks through individually bidding on them or teaming up with a Nigerian based oil company. I think that right now there will be negotiations with ERHE and SNP to partner up with us to get a peice of our 2 100% blocks. The thing with this is what blocks are we guarranteed to get, our choice, or the 2 crappiest ones. That is the $64,000 question...which ones will we be awarded... If they are prime, we are prime, if they are not we are in a little trouble cash wize. That is why they made to other shallow deal that can be brought into production quicker that JDZ, they must make a deal soon to keep the cash flow up, either getting in bed quick with SNP for EEZ, selling some more % off the JDZ blocks(can't if blk5 and 6 are lost) or make small deals with existing fields to get $$$ flow started.. Any direction takes time, we don't have $$$ to wait and see to much longer... Something will happen within the next three months..
I don't think I'll be waiting 5 or 6 years, been there done that with other stocks, (even ERHE I've been in -- out over the last 5 years) I hate to say it but patience is not the answer in a lot of cases... Every stock looks like the one until the thieves and cheats come out of the woodwork when they are finally discovered. And yes DD was done by all, some of the thieves are quite good at what they do. This all looks great and I'm in, but why do I always feel the other shoe will drop and that will be it. I guess I'm just a shell shocked investor (if you can call me an investor, I think they are suppose to make money over the long run) well I hope this IS the one....I just don't like the delays and lack of news...All have a good holiday...
The Obo-1 well discovered hydrocarbons in
120 ft of net oil (SB 8.2 Lower and SB 13.8 Lower Reservoirs
170 ft of net hydrocarbon pay in the three Upper Miocene age sandstone reservoirs
53 ft of net gas(SB 8.2 Upper Reservoir)
Are net oil and net hydrocarbon the same? If so
120 -- oil
plus 170 -- oil
equals 290 -- oil
and 53 ft gas
i think oil wins??? or sorry if I misunderstood the results.
someone please clearify..
Anyone feel that the results will help our progress? Or is this news that has been around, just not in our hands.
I'm kinda tired of getting excited about something and it turns out to be a meaningless thing that has no affect on the SP of ERHE
Wow great work on OBO. But, what does it all mean for us?
With all of this news around us and some news about the JDZ is out. And even if the theory some us believe of why no news so far(EEZ bidding)are true. I would believe that just from these bits of theory it would dictate a positive thrend upward for the stock.
I think several posters have said that there isn't really a lot of available shares out there.
SNP stalling results for better EEZ bid prices(I agree) but this would be a positive because it says that is good news on the discoveries and SNP isn't in a hurry to tell. POSITIVE
No take over news ??? well could be a tactic by SNP of not bringing attention to the area and what the JDZ holds..POSITIVE
Drilled all holes according to treaty (still not sure if the third was drilled in blk 4) Neutral to POSITIVE if the third is being drilled (VERY POSITIVE)
So, why is the SP still being held down ???
Why aren't people who know the situation telling friends etc. to get in now??? Not sure.
When the reults come out at the end of January obviously things will change dramatically. One way or another.
Also, you would think ERHE and SNP would have to announce their Phase 2 plan by the end of Jan. (or maybe not to keep things quiet) But with results out I don't think things are going to be kept quiet for long.
I think IMO that we will see a solid buildup of interest in the next 45 days with ERHE, The word is getting out slowly which means more and more people know something.
It should be interesting in the next couple of months.
Come January after tax selling in DEC. investors will be looking for new areas to place their money, hopefully oil will be over $100/b by then and some more info will come out about ERHE to help our cause.
Well happy holidays to all, take care of family and friends for the next couple of weeks, get your mind off of this headache for a while and we can all go at it in January...:)
Peace
Disappointing volume AGAIN!!!
I guess that Friday was our last push to all of our aunts, uncles cousins, friends, friends of friends, uncles of friends to buy some cheap shares...:) We have no more people to call and buy some shares, at least noone with any real money... they are buying lottery tickets instead.
"We anticipate that the pace of progress will continue to accelerate as the São Tomé & Principe Exclusive Economic Zone moves closer to its first licensing round.”
this sounds like they are positive for the upcoming EEZ. If the JDZ was a dud, there would be no interest in continuing into the EEZ.. I think Sin/addax is waiting for ERHE block assignment in the EEZ and then a solid offer can be made to OFFER for ERHE.
Hopefully at least $5 - 7 / sp
Scottrade shows bid .69 ask .70 @ 7:26am
JDA news !!!!
IMO the JDA will announce the findinging of the first several holes Monday. We should see the SP jump in late afternoon. ERHE is not having a conference tues. with bad news...
We should see .80 plus by tues. morning
3 million plus shares traded Monday...
Goodluck everyone, the time is here.
sure would help the SP support this week if he did give a well update on Oki-1.