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For Opko, site says:
T12 Halt - Additional Information Requested by NASDAQ
Trading is halted pending receipt of additional information requested by NASDAQ.
No trading yet this AM
WOW, what a big jump in the volume of the shares traded. From no volume yesterday, to 2 cents of volume today. YES, 2 cents (I wonder what the commission was on that trade).
I am so glad I do not own 100's of millions of shares, as would really worry when it came time to sell those shares since the trading volume is soooooo loooooooow.
Finally back in at $5.69. The urologists can't keep the 4Kscore test down forever! The better product will prevail.
ERHC today bid 1 milray / ask 3
NO VOLUME as in no shares traded
the oil guy needs to tell more friends and relatives to buy more shares
Everyone wants the truth. One must open their eyes to see the truth about ERHC. There are many here that believe those that attended the shareholder meeting are telling the truth. Those that are relying on information from SO are depending on that information as the truth. Who is and has been more reliable over the past years? Who has been proven right? Who has driven the share price into the ground? If one cannot SEE the TRUTH they only kidding themselves into believing what they want to believe (which is not the truth).
Ps: It appears that the circle is getting its "inside" information from SO and one has to wonder how truthful this information really is.
Everyone wants the truth. One must open their eyes to see the truth about ERHC. There are many here that believe those that attended the shareholder meeting are telling the truth. Those that are relying on information from SO are depending on that information as the truth. Who is and has been more reliable over the past years? Who has been proven right? Who has driven the share price into the ground? If one cannot SEE the TRUTH they only kidding themselves into believing what they want to believe (which is not the truth).
Ps: It appears that the circle is getting its "inside" information from SO and one has to wonder how truthful this information really is.
The problem is when there is no volume in one day and only 1-2 million shares traded in a week, week after week this is a difficult trading platform to unload sell 210 million shares (if I owned that many). To sell hundreds of millions of shares would take over a year at this volume. With that many shares on the "ask" the price would likely go down, although going below one milray is not mathematically possiblel
Who wants to wait a year to sell their shares?
"not a single share sold at 2 milrays"
because NOT A SINGLE SHARE TRADED as in ZERO volume
Anyone that convinced their friends, relatives and/or neighbors to buy shares of ERHC where that buying (all at the ASK) has pushed the share price to 3 milrays ($0.0003). This appears to be an artificial "pumping"up of the share price that will NOT hold. The price wii be back to bid 1 ask 2 very shortly. I'm sure there are many here that are very happy they were given the opportunity o dump their shares at 2 milrays. I feel sorry for those that bought at 3 milrays and will soon be 33%-66% underwater.
A 10,000 bagger, is a joke!
here'e what PETER says:
African oil and gas companies therefore need to come to the market with very good assets, a good business case, good corporate governance, a strong and recognizable board and management and good advisory firms,” explains Peter Ntephe, chief executive of ERHC Energy.
Let's grade ERHC on this talking points where companies need to come to the market;
with very good assets,
this is VERY questionable based on past history and lack of any interest
with a good business case,
who wants to do business with a company that stiffed its last partner
with a good corporate governance,
no public filings for over a year, no BOD meetings/elections for many years
with a strong and recognizable board with management
what BOD, do they still exist? Management not being paid, PN (the CEO?) working for a law firm in Nigeria
with good advisory firms
likely no advisor firms still on payroll
To sum up: ERHC does NOT qualify. NO WAY, NO HOW
Krom, Maybe the share price has held at bid 2 milrays, ask 3 milrays, but let's look at todays volume.
50 shares traded for a dollar volume of less than 2 cents. WOW this stock is really BIG TIME!
My guess is that you have convinced your friends, relatives and/or neighbors to buy shares of ERHC and that buying all at the ASK has pushed the share price to 3 milrays ($0.0003). This appears to be an artificial "pumping"up of the share price that will NOT hold. The price wii be back to bid 1 ask 2 very shortly. I'm sure there are many here that are very happy they were given the opportunity o dump their shares at 2 milrays. I feel sorry for those that bought at 3 milrays and will soon be 33%-66% underwater.
isn't a 5000 bagger equal to 500,000% ?
nothing on that list is equal to or greater than 500,000% '
Mylan +6687% 66 bagger
AAM +23,563% 253 bagger
PIR +21,263% 212 bagger
Concur +41,512% 415 bagger
QSI +44,000% 440 bagger
not even one 500 bagger, not even close to a 5,000 bagger
LET'S GET REAL, Ia there ANY chance ERHC will be a 5,000 bagger? NO WAY!!!
from 2 milrays to over a buck. that a 5000 bagger. i am sure that happens quite often, to a company with no cash and virtually no paid employees. I would make sure ERHC still has ANY drilling rights before you add up those barrels of oil.
When you agree, are you TOTALLY in the dark as well?
can't get to 4 milrays, without holding 3 milrays!
Share price back to 2 MILRAYS
There is no way that 3 milrays will hold firm during the next week. The share will be back to 2 milrays for SURE.
What are ERHC's current expenses? PN/SO are not being paid. Is there anyone else on the payroll? The person answering the phone is likely part of the "time share" office they are renting. Likely, just a mailing address and office space on an as needed basis. Since there is likely no one EVER in the office, the cost of this "office" is probably next to nothing. The company now is truly a shell, no regular employees going into the office 9 to 5, just SO returning phone calls from wherever.
What are ERHC's current expenses? PN/SO are not being paid. Is there anyone else on the payroll? The person answering the phone is likely part of the "time share" office they are renting. Likely, just a mailing address and office space on an as needed basis. Since there is likely no one EVER in the office, the cost of this "office" is probably next to nothing. The company now is truly a shell, no regular employees going into the office 9 to 5, just SO returning phone calls from wherever.
As in any investment, you are in it to make money. You weight the risk versus reward. The up side versus the downside. If ERHC goes to zero (most likely case), you lose your entire investment whatever it is. If you invested $100K and it goes to zero, you have lost is all. So the downside is ENORMOUS as the chance of going to zero appears ominous from the current financial state (no need to go over the facts as everyone knows what bad shape the company is in).
Now lets look at the upside on the stock that's trading at 2 milrays. Sure its possible for a double, triple or four bagger, but what are the chances? It appears it is quite a long shot for ANY oil company to do an oil deal with ERHC based on the company's past history of stiffing past partners. Would you do a deal with a company that stiffed its last partner (I certainly would NOT). Then there's SEO, who many believe will save the company. IMO, SEO is out only for SEO and will do little to help the existing shareholders. Why should he? What's in it for him? Some people trust a Nigerian, only as far as they can throw him, all 300+ lbs.
So all and all it boils down to risk versus reward and IMO HUGE risk and only la little chance of reward (and a small reward at that). So why would anyone invest in ERHC at this point? Not many and the share price proves it.
As in any investment, you are in it to make money. You weight the risk versus reward. The up side versus the downside. If ERHC goes to zero (most likely case), you lose your entire investment whatever it is. If you invested $100K and it goes to zero, you have lost is all. So the downside is ENORMOUS as the chance of going to zero appears ominous from the current financial state (no need to go over the facts as everyone knows what bad shape the company is in).
Now lets look at the upside on the stock that's trading at 2 milrays. Sure its possible for a double, triple or four bagger, but what are the chances? It appears it is quite a long shot for ANY oil company to do an oil deal with ERHC based on the company's past history of stiffing past partners. Would you do a deal with a company that stiffed its last partner (I certainly would NOT). Then there's SEO, who many believe will save the company. IMO, SEO is out only for SEO and will do little to help the existing shareholders. Why should he? What's in it for him? Some people trust a Nigerian, only as far as they can throw him, all 300+ lbs.
So all and all it boils down to risk versus reward and IMO HUGE risk and only la little chance of reward (and a small reward at that). So why would anyone invest in ERHC at this point? Not many and the share price proves it.
If that is true, I would hope the company would make a public statement about the case being dismissed
Did you ask SO if PN is still the CEO or working for a law office in Nigeria? Did you ask SO if (when) the company will report to the public? This is not really insider information and SO should answer those questions.
If SEO is truly a billionaire, did he get there "by hook or by crook"?
If SEO is truly a billionaire why would he not buy out ERHC and take over the company for himself as presently that would a very, very, small portion of his net worth. Maybe he actually knows how much the assets are really worth and the assets are NOT worth spending ANY money on. Maybe SEO has other more unscrupulous plans to get the assets for much, much less than he would have to pay for by buying shares.
Has anyone ever heard it said, "I trust SEO (a Nigerian) as far as I can throw him)" ALL 300+ lbs.
Ps: I still do not believe SEO is a billionaire.
Middy, are you implying that it is possible that ERHC may be the subject to a "Nigerian" scam whereby SEO swoops in and "steals" all of ERHC assets right out from under the existing shareholders? Wouldn't that be ironic that EMY was right all along (re stealing the assets). It could happen right under the shareholders noses since there is no pubic reporting and the public does not know what is going on. Is having SEO the new CEO really a good thing? If the assets are really worth stealing this certainly is possible, if not probable.
Do you think a person who was caught smuggling in a suit case full of cash in Great Britain would do such a thing? Are all Nigerians scammers? Is it in their DNA? If the shoe fits .....
When all else fails, PN pulls out the race card. But the lenders see through it.
IMO, you produce no oil, you get no money no matter what color you are. Just another excuse for his failures. One might remember PN had $50 mil plus drilling rights in the JDZ/EEZ and came up with no oil and broke. No wonder PN no longer reports to the public.
Any idea from the inside “circle” when/if ERHC will report ANYTHING to the public? It sure would be nice to have this PUBLIC COMPANY report to the public.
No one made any real money on this stock over the last several years! ///just look at the chart. DOWN, DOWN, DOWN!
Personally, I can not top $1.7 billion, but if PN/SO were given that amount of money, I am sure they would have blown through it all without ANYTHING to show for it, just like they did with the $50 million they did already blow through. Are they they guys you place all your faith in? That is the real meaning of blind faith!
I wonder how much money Chad cost ERHC? ERHC management spent lots of money to attend conferences to find out about Chad and then had to pay the Government of Chad a substantial amount of money to begin the development to drill for oil in Chad. All the money went down the toilet as ERHC gave up its rights in Chad as was outlined in the last post. So much for these conferences being worthwhile. I still believe the conferences were a waste of money as management lived high on the hog, hopping around the world (first class) as they enjoyed going through ERHC's cash.
So, my guess to the question, "how much money Chad cost ERHC"? 10 million
Not much to show for that much money. Was it really worth it?
I'm sure PN and SO enjoyed spending the money and getting paid handsomely for doing it.
Plus, IMO, Erhc is a much worse “bet” than any lottery, even if the lottery is the absolute WORST form of gambling.
ERHC finishes off the week at 2 milrays with very light trading (only $20 in trades). Not very promising!
Your analogy of ERHC buying ERHC shares is like buying buying lottery tickets is VERY true. Both are like throwing your money away. Buying a lottery ticket is the very worst from of gambling and 99% of those that buy lottery tickets lose money. If you buy ERHC shares now, you have a 99% of losing your money. Very good analogy.
Early on, what upset me most about ERHC's actions, was the spending by management on their global travels to all sorts of trade shows on the company's dime, going first class all the way. They sure knew how to spend "other people's money" and not be accountable for it. Management acted like they had money to burn, and they sure did burn through it.
“Patriotism is supporting your country all the time, and your government when it deserves it.” Mark Twain
The same can be said about ERHC. The question is, do they deserve support?
Did ERHC lose half is market cap in one day! ??
Now harder to get to 3 milrays, as you can get shares at one milray.
Is it time to back up the truck??? Only if you want to load it with manure.
So, in summary, contrary to what some here believe about ERHC assets in the JDZ being VERY valuable (and likely to be stolen, LOL), there are no major oil companies that presently believe the JDZ has commercial oil AND WILL NOT BE DRILLING THERE.
I do not believe ERHC has the financial ability or the competence to go it alone. So where does that leave ERHC? Probably at no more than 2 milrays ($0.0002) forever. Not a worthwhile stock to invest in, IMO
A summary of todays ERHC trading;
114 shares trades for a total of $0.02
Nothing to write home about.
Maybe the glass isn't half full.
In reality, maybe there isn't even a few drops in the glass.
Oldoil, if you put in bid of 4 milrays for 2.5 million shares of ERHC it will only cost you $1,000. Then the share price will really be at 4 milrays. But I am sure you can buy many many millions of shares at 3 milrays, so offering 4 milrays would not be very smart.
About $120 is trades today (assuming all trades at 3 milrays or $0.0003). You would think a billionaire would be spending a pittance of his wealth to pick up a a few more shares if he had ANY confidence that the assets were valuable causing the share price to rise.