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one large NO
agree 100%... TA does not apply here.
TT - not sure what you are referring to? I want to know if the spring rally is still in tact. wouldn't want to miss out. Someone PM'd me that a bullish engulfing oil derrick is forming on the 50-day chart when looking in 1 minute intervals.
ok but i still want to know about the spring rally that always happens... is that off now? I need to try sync my TA with a potential (or not?) spring rally or summer rally or fall rally? would hate to lose more money on this thing.
I didn't sell anything...but i thought TA was telling us to buy?
Hopefully no one bought recently based on the TA we had been hearing about.
i don't think he's saying that... he's talking about those that think ERHC is hiding the results of the current drilling. they would be in huge trouble if they suddenly changed their tune. Every shareholder that sold in this time period could sue. PN may not be great at the manager thing but i think he's pretty good lawyer...
so erhc is risking the company in the face of the SEC and other gov't agencies to please SNP? Doubtful... nothing commercial was found. live with it and move on. There are no conspiracies or secret wells or secret finds.
Besides all of this... there is no way that word doesnt leak in over two years of a big find in a new AFRICAN frontier, with a dirt-poor country invovled.
if it was in fact said, it surely wasn't done after drilling.
You miss the point a couple of times... First I am not saying it's going to hit 5... I am simply saying I am going for all or nothing which is why I still hold. It may not be 5... It could be 2 or 10. Get my point?
Secondly... The spring rallies were always driven by the spector of awards then psc's then drillships then new drillships then drilling then results...this time around there is nothing close to that... Unless word leaks of a giant find in block 1.
as it always is...
I strongly disagree (which is 99% of the time with your posts) - with the exception of the EEZ (which is a long way off)... none of the current assets or potential assets can come close to matching the hype of the JDZ and the potential many thought it had (or still has). You will not see any 700 or 800% returns any time soon unless Total hits a massive, massive gusher in block 1... as in at least a billion or two confirmed barrels.
when is the buyout?
I have no issues with that statement. I am talking about some "groups" that seem to think that they aren't telling us what was actually found and that there is some hidden agenda for a magical buyout and billions of barrels of oil that have been kept under wraps... in a new oil frontier.... in africa.
troy - you are comparing apples to oranges. Shrull made those statements BEFORE drilling occurred. It's much easier to make statements like that before actual results and have no ramifications (except of course losing your job... but not legally).
Now that they have the results, statements and reporting disclosures are much more strict. I believe ERHC would be in big trouble with the SEC etc if they suddenly came out tomorrow and said ooops... we actually had a billion barrel find all along and you can just ignore us telling you that nothing commercial was found.
or...we aren't having success attracting partners for our current assets and realize we need to find other assets in order to hopefully get some cash. This may or may not be true but there are two sides to everything and not everything is always sunshine and lollypops as you seem to think and post.
I hope your side of the story is right and we are putting so many irons in the fire because we are confident about our current irons...
I'm with you pete... a number of those questions were almost word for word what I submitted to DK for the CC. Kudos to them for answering them and answering with some actual depth (with a few exceptions)... but I don't get any warm and fuzzies.
Bottom line: hope someone is willing to throw us some cash for Chad and the EEZ... otherwise... probably not good for you and I. that's the reality we face based on the FAQ.
ps interesting how there is "talk" about not divulging well data and how there is more than meets the eye and the buyout is just around the corner. they are making it very clear that drilling was not good and the company officers would be in a TON of trouble if that proved not to be true. PN is smart (maybe not so much on the managerial side) and a lawyer... i highly doubt he would do such a thing. but hey, that buyout is just around the corner, right?
what the heck does this mean???
Q. What is the real reason it has taken so long to be listed on the AIM?
We discussed this during our year-end conference call in December. Our Nominated Advisor in recommended the addressing of several public relations’ and international image challenges of various ERHC affiliates in order to make our listing application more likely to be accepted at the first time of asking. We took that advice and have, partly in the interest of cost efficiency, discontinued pursuing the AIM listing until these matters can be addressed. This is not something directly connected to ERHC. It involves companies affiliated with ERHC and those companies are, strictly of their own volition and at their own cost, cooperating in the addressing of those challenges.
agreed - with oil high, snp is more likely to go ahead with the JDZ
change of control clauses are the norm for just about every company... next.
Anyone know why they included the chad info in yesterday's PR? Seemed sorta odd as it was really nothing new. Strange that they would include that when they simply could've PR'd the record date and meeting info.
as the ERHC world turns...
that's the problem - if it comes to that (and i really hope it doesn't), the money will be INCREDIBLY expensive and it will be at yours and my expense. Let's hope they don't wait until the money is out to work a deal...PN is smart enough to realize that (i would hope).
Of course this could all be moot since surely a buyout is coming anyday now or something like that :)
DK's response regarding block 5:
No. As described by Mr. Ntephe on Friday, ERHC’s rights in JDZ Block 5 are in arbitration. Until that arbitration is completed, neither ERHC nor the Joint Development Authority can do anything related to the Company’s rights. Assuming the report last week was accurate (but I want to caution that reports are frequently inaccurate), Mr. Prazeres would have been referring to the events Mr. Ntephe described in the management presentation portion of the conference call as happening in 2006 – not new events. Here is what I am referring to:
It is our understanding that the PSC is signed with those rights held in suspense pending the determination of the arbitration.
In spring 2006, ERHC strongly stated its concerns about the original operatorships granted in Blocks 5 and 6. The terms of communication of those concerns ultimately led to the controversy, now in arbitration, of whether ERHC thereby relinquished its rights. Without prejudice to the matters that are subject to legal proceedings, it would appear that the concerns expressed by ERHC at the time were legitimate, since it has taken all of seven years for a PSC to be signed in Block 5 with no PSC yet in sight for Block 6….
The next step would be a formal notification from the Joint Development Authority regarding the events related to Block 5. To my knowledge, no such notification has been received. As Peter said last week, when there are developments, the Company will update shareholders. We will provide such updates through approved channels and not via individual e-mail as doing so could violate Reg FD.
Sincerely,
Daniel Keeney, APR
DPK Public Relations
DFW: 214.432.7556
Houston: 832.467.2904
E-mail: dan@dpkpr.com
Web: http://www.dpkpr.com
Twitter: http://twitter.com/dpkpr
Blog: http://www.danielkeeney.com
From: mz157
Sent: Monday, February 13, 2012 3:03 PM
To: dkeeney@dpkpr.com; dan@keeneypr.com
Subject: Block 5
Hi Dan - have you heard from STP/Prazeres regarding his quotes in the Lusa article last week stating that we no longer have block 5?
Thanks
troy - can't respond to your PM from Friday. but oando did the deal in order to get on a new exchange first and foremost...I am sure some of exile's properties are enticing but make no mistake about it... the reason they did it from all i have read was for strategic corporate purposes and not so much because of the assets. i won't be surprised to see owners of the old exile take another hit in newco when it begins trading. i think the warrants will be way out of the money a long time. i guess we shall see.
I thought we had a good working relationship with STP and the JDA. Interesting how such contradictory statements could be made on the same day. very bizarre.
You are joking right? You realize options will be split-adjusted right? And this option plan was the first thing that jumped out at me when reading the doc. Seems bullish to me. Good job on actually doing something that seems positive for us shareholders for the first time in awhile!
I doubt they would be asking for investor questions if something significant was going to be announced. I could be wrong but I will go with past history in which this will be a routine call with no new news.
DK confirmed it hadn't been activated when I sent in my questions hence the reason my email was bounced. It is now activated.
just sent my questions and the email address didn't work...
edit: email DK your questions as they haven't activated the email address
conspiracy theories and dots are so fun though... if you people really believe that a find of commercial oil in any of the 5 wells ERHC was a part of has been kept a secret for this long with zero leaks... well...
let's try this again... if there was material oil finds in any of the first 5 wells, we would not be trading at .08. It's pretty simple. You can try and connet all the dots you want but look at what all the "connections" got you through the years.... 8 Cents and little news to backup the dots.
A material event is just that... an event that is material. Nothing has happened.... hence nothing to report. If okie east was as spectacular as "some" make it sound, we would NOT be trading at .09.
What's your point? Is 7.35% not our pre-reorg holdings? And do we not now own 7.35% of 5.4% of newco?
so we now own 7.35% (think that was our pre-reorg ownership) of 5.4%? Unless I am reading it wrong...yikes.
edit: Troy... warrants are usually priced well-above the expected trading price. We shall see but I am not confident this was a money-making trade
Hartman is NO friend to ERHC...
would love to believe you but there have been too many false prophets for many of us get our hopes up. hope I am wrong though!
Oil Blocks in West and Central Africa on Offer - ERHC
http://www.derrickpetroleum.com/2012/01/25/oil-blocks-in-west-and-central-africa-on-offer/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+derrickpetroleum+%28Derrick+Petroleum+Services%29
yep... same old, same old. Always what we are going to do and never what we did. we are in talks...etc etc etc.
oh and SAHD... about $4k in actual money has changed hands today. Yeah people really are rushing in...
TOB - fyi - not sure what they call them in London or Nigeria but in the US, mutual funds are considered "institutions"... mutual funds issue a "prospectus" which lists their objectives, rules etc etc. So yeah, such an institution must follow what's in it's prospectus.
now what's that about understanding finance?
not true - nothing prevents an institution from buying a penny stocks as long as their bylaws or prospectus allows it. one of the many message board myths.