Where is everyone?

81 - 90

oilphant, watch out for what's next...

june

"Beside, we have not drill yet, it is pretty hard for them to believe there are oil down there."

Wasn't there a hole drilled in block 1? Huge results, then tight holed, then down played (I wonder why) as not commercial?

apology accepted, no problem.

Sales of other stocks resulted in gains that this loss can offset. $120k long term loss against other LT stock profits saves 15% Fed Tax and 6.5% state tax, saves $25800 in total taxes for 2007

Why was my post re tax loss reasoning deleted?

I'd imagine there's still lots of year end tax loss balancing.

I sold 200k shares today against shares purchased near the PSCs @ about $.80 avg. But, I bought 200k a month ago @ around $.20 in anticipation of dumping my old shares today.

Net, I have same total number of shares, but I get to use $120,000 tax loss for 2007.

Chump change is right. I just got another 100k at about 20 cents. Thanks to whoever is selling!

Doesn't have to be filled, but is most likely due to the preconceived notions of technical traders. If an outcome is highly expected by a large group of (technical) traders, they will behave as such and wait for that outcome before buying.

I tend to invest on fundamentals and try to time my trades heeding, but not strictly adhering to the technical signals.

I have my doubts as to the veracity of technicals when it comes to ERHE.

A gap is the space between David Letteremen's front teeth (called a diastemia in dental terms.)

O.K., I'm really bored today.

A stock "gaps" up or down when the daily range is completely above or below the previous day's daily range. i.e., let's say it closed at .225 today and tomorrow it opens at .24 and stays above .24 till the close. It "gaps" the space between .225 and .24. That gap fills when it trades down to .225 again at a future time. If it closes today at .225 and opens (or trades as low as) .225 tomorrow and trades up to .50, closing at .50, there is no new gap.

You are quite right. Today the (marginal) shares are only worth $.255.

But I imagine if someone tried to buy more than the half million or so marginal shares that are available on any given day that the price would jump and more accurately reflect the stocks value. The greater the demand, the higher the price.

Unless SEO wants to(or has to)sell a large piece, any one wanting to acquire a significant chunk of this company will have to pay up big time.

I don't think much (meaning a few % +)is available at under a buck and probably not alot till even higher.

Booooring...

So I put in an order to buy 25k @ .261.

Just be happy they are available @ such a cheap price.

I'm happy to share. Buy all you want. Heck, I'll even sell some ... a few @ $2+ ... a few more @ $3+ ... a few @ $6+ and lots @ $10+.

Yup, picked up another 25k @ .271.

We need better representation, but I'm not sure we have enough ownership to force the point.

In any case, it would take more than a few $$ to mount such an assualt.

If we had a large enough stake and some form of consensus, I might have suggested forming (and funding with a per share .1 cent contribution) an investigative group to proceed by hiring an experienced consultant and getting appropriate legal counsel.

BTW, red highlight means it was a sale at a lower price than the previos one.

Only from someone with no patience over TO ME.

My 25k @.281

I would think an organized group holding 10% would have a strong voice.

"This idea of finding if we have the strength is an excellent premarket evaluation."

Agreed, just the first step.

Thanks for your thoughts.

See post # 106084

Soooo...

How many shares does it take to push for a seat? 5%? 10%?

Does anyone here have resources/contacts to get an idea what it takes? Strategy? Procedure?

Since my post 24 Hrs ago we have identified close to 5% ownership on this forum. Together we should have a voice!


Posted by: Auman
In reply to: None Date:8/22/2007 3:47:22 PM
Post #of 106083

BTW I wonder how many shares we control on this board.

I own/control a chunk, but it's only a tiny .2% of the company. What % control does it take to gain a seat?

Do we have enough to consider pushing for a board seat?

Is this worth following up on?

We're trying to get an idea of how many shares this forum controls and if it would be possible to leverage that into a seat on the BOD.

and the latest tally is ...

1,328,000

I'd rather have an honest, intelligent forum member with common sense and good judgement, even if he was (deep water oil) inexperienced, than all BOD in the majority holder's pocket.

I'm not making any accusations or in any way saying the BOD is anything less than above board, but I do think it's time we had a lot more transparancy and a stronger voice representing our minority shares.

Are you saying you'd rather not have an eye (or a say) on the BOD than have someone with less than those qualifications?

Regardless of a potentialy hostile 51% controlling interest, another group with a reasonable (5, 10, 20%) owership should be represented on the board. What % would be viable and do we have enough ownership here to get representation?

It would be worth looking into, if for nothing more than more tranparency.

Is anonymity the prime directive?

Is it a forum faux' pas' to inquire or post regarding the # of shares we control?

littleBitmoore1, here's one of mugwumps forums. Mostly precious metals, but also some on base metals and energy ... and as a bonus, a few religious nuts.

http://www.voy.com/64855/

BTW I wonder how many shares we control on this board.

I own/control a chunk, but it's only a tiny .2% of the company. What % control does it take to gain a seat?

Do we have enough to consider pushing for a board seat?

Is this worth following up on?

I stuck my toe in the water on ERHE with a 10k purchase in 6/05 @ about .51. After a lot of reading and research, I've added an average of 50k shares per month since then for an avg cost of about .39.

At each runup to near a dollar I felt we were going to really take off and (some would say foolishly)never sold a share. Have I wished for $1 ... $2 ... $3 share price? You bet I have. But if the stock had continued to run any of those previous times it approached a $1 I would have only a fraction of my shares.

Our company has the goods. We will be rewarded greatly for our patience. I'm looking for a 10 ... 20 ... maybe 30 bagger on this investment and another year just means I may buy another few shares to grow.

I've followed mugwump into a dozen juniors and have profited quite handsomely... many many times.

(AKA GoldVoyeur on Voy)

Well that was a real circle jerk. The co really blew a great opportunity.

.28 in US

Just got on... put on music hold

From sfreed...

My Readng of the 10-Q

1) ERHC transferred 9% of Block 4 to Godsonic pursuant to an
Agreement dated March 15, 2006. Apparently the Agreement contained
financial conditions that Godsonic had to fulfil. This Agreement was
obviously so insignificant to ERHC and its shareholders that it was
not disclosed!!! Also, apparently Godsonic did not have to fulfil
the conditions before the transfer actually took place.

2) In an amendment, signed April 11, 2006, to the Participation
Agreement between Addax and ERHC, Addax and ERHC agreed that IF
Godsonic could not meet the conditions in the Agreement above, Addax
and ERHC would split the 9%; 7.2% to Addax and 1.8% to ERHC IF an
agreement is reached between Addax and ERHC on the amount payable to
ERHC by Addax for the 7.2% interest. If agreement is reached, ERHC
receives some consideration for the 7.2% and is carried on the
additional 1.8% to total 19.5%. This, however, implies that if no
agreement is reached, ERHC holds the 9% outright with all the
financing obligations inherent in its ownership. Obviously this
amendment was deemed to insignificant to be disclosed to ERHC
shareholders!!!

3) Godsonic has failed to fulfil the conditions of the transfer of
the 9%. A settlement has been reached with Godsonic where ERHC
actually PAYS them $250,000 to get the 9% back. This has to be
finally agreed and completed by August 30 or ERHC may sue Godsonic
for the return of the 9%.

4) I would assume that ERHC is in discussions now with Addax on the
consideration for the 7.2% of the block. Based on Addax's initial
purchase of ERHC's 25% and carry ERHC on 17.7% for $18mm and Addax's
subsequent purchase of 5% from Overt for $15mm; the 7.2% sale and
carry of 1.8% would be worth at least $15mm in cash to ERHC.

5) Depending on the outcome of discussions with Addax on the 7.2%,
ERHC's holdings in Block 4 are: a) 19.5% fully carried, or b) 17.7%
fully carried and 9% full cost ($7.65mm work commitment plus $8.1mm
signature bonus) totaling 26.5%.

I am thrilled we have recovered the 9% and would be very pleased to
sell the 7.2% to Addax for north of $15mm and keep a carry on the
1.8% remaining.

This filing, however, begs a number of questions:
1) What were the conditions in the Godsonic Agreement?
2) Why was the Agreement not disclosed?
3) Why was the transfer made to Godsonic before the conditions were
fulfilled?