You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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I feel sorry for all the long timers here that "told" (or bragged to) their better half when ERHE almost hit a buck several times in the spring over the last few years, only to drop back way under fifty cents. Talk about eating crow pie. There is nothing worse than being in a stock for a long time and seeing so many opportunities to sell at a profit and then have them disappear. Whenever you tell you better half about the high stock price, all she says is SELL, SELL, SELL. So why bother to tell her anyway? Especially if you have no intentions of selling until this baby hits $5!
It is best NOT to discuss ones stock trading with your better half. All they remember are the bad stocks and will constantly bring them up whenever a money issue comes up. Especially if they want to buy something, they will bring up how much money you lost owning such and such stock (ERHE, WGMGY, WorldCom, etc. etc)
I am going to go out on a limb and forecast that ERHE will have a new CEO by the end of the year. I will also forecast that the DOJ investigation will be resolved by the end of the decade. As far as finding oil, in a fortyear.
DeGen
Ps: hopefully all three will happen sooner.
Is there anyone out there that does not believe that the shareprice will be at least one dollar at the end of 2008 (21 months from now). That would be close to a triple in less than two years. Is there any other stock out there you can say that with as much confidence as with ERHE?
Most regulars here believe ERHE controls (has rights to) a vast amount of oil. I am certainly in that camp. Everyday more information confirms that the oil is there and ERHE has the right to the oil. So why is the shareprice so low? Has big Oil blown so much smoke over ERHE that most other investors can not see the potential? It appears so. IMO, it is just a matter of time until the truth is accepted by the investing public and the buying begins. Will it take a rig? Will it take a oil report from a rig? Will it take several holes drilled? Will this take months, years, fortnights?
I am very confident that the oil will be found and the shareprice will reflect this. But most of all I am patient, which we all must be. We have the knowledge, we have the shares, now all we have to do is wait for the situation to unfold. Patience is a virtue.
For those oil experts, please help a novice oil guy.
Let's say the rig arrives July 1st, at what point in time will one know if there is oil and how much oil there is? One month, two months, six months, a fortnight or two? TIA
I think all of us here should decide (discuss) when the ERHE "party" is by setting a strike price for the company. Let's all suggest a share price figure and when it reaches an agreed on figure, the party is on.
Let me be the first to suggest a figure of $5 and give an estimate of when the will be reached (Dec 2008).
DeGen
Ps: I am assuming the party will be in Las Vegas so we can all piss away all of new found money at the tables.
Alwright, I do not know how you can call me a basher! What I stated was my opinion on why the shareprice is where it is. The situation speaks for itself. I have a huge amount of shares (over half a million) which are all under water, since have only been around for about one year. But as I said I do believe in the future of the company, but the present has many many flaws that no one can deny. I ask you one more time, would you recommend that your mother buy some shares after you told her about the present situation (no CEO, DOJ and the Nigerian connection). Actually I am afraid to tell my wife all I know about this company because I can hear her now, SELL, SELL, SELL. This is not bashing, this is reality.
JackCB, I feel the same way as you do about why new shareholders are not jumping on the ERHE bandwagon. Too many negatives and the positive (at least the pot of gold at the end of the rainbow) is OIL. But the oil is far off, several fortnights if not more. So what to we have with oil so far off, a share price that drifts lower and lower because no news on the problems the company has (no CEO and DOJ on their back). Sure oil outweighs all the other problems, but the oil is still not FOR SURE until the wells tell their story. The wells are still too far off to stem stock speculation at this time. So the price drifts even though news of rigs is released. I am a LARGE shareholder in the company but will not recommend the stock to anyone, especial friends and relatives. How can you tell anybody to invest in a company that has no CEO, is under investigation by the DOJ and controlled by a Nigerian. Could you explain that away, too say for example your Mother? I love the company and I am probably over invested in it, but I am a degenerate gambler and love to gamble on things. This stock is a huge gamble and only a gambler would be willing to invest in a company with these kinds of problems.
So I guess all of us hear are in essence, GAMBLERS. as far as being share holders. I just hope there are not too many degenerate gamblers!
OT: Golf -- Your book reminds me of a joke. This man walks into a bar and sees this pretty lady and asks her her name. She replies Carmen. He replies, that a nice name, how did you get it? She says, well, I like cars and I like men! Then she asks him, what is your name?
He, stops and thinks awhile and then says, Golf Tits.
Speaking of the meaning of one's handle, I would have to guess Badog is a BAD DOG. duh!
DeGen
Ps: With a bark worse than his bite.
OT: I too had to explain my alias. You have to read it to find out for yourself.
DeGen
Ps: http://www.investorshub.com/boards/read_msg.asp?message_id=17416702
well my wife calls me many things, and I did not think Azzhole was a wery good handle, so I choose degenerate gambler. I live in Vegas and yes I am a degenerate gambler, but not an azzhole! Isn't that better?
It appears the shareprice is having trouble holding 40 cents without any news or rumors for that matter. And little volume. It appears ERHE is in a holding pattern circling the airport not quite ready to land. With all the unknowns, is a rig coming, how much oil, the DOJ & COE situation, it is no wonder the shareprice trickles down. We really need some good news to perk up the shareprice and who knows when that will come. Maybe in a fortnight or two (three, five, ten, fifty ....)
DeGen
adaxxx, clean up your post by removing "TF" or it will get deleted. A word to the wise!
and yes, there would be a great "gamble" to selling this spring if we climbed back to 80 cents again. I do not believe that ERHE would drop back, but continue to rise to over a buck and then some.
ERHC get a loan! LOL LOL LOL You must be dreaming, no "hard" assets to lien against, only hopes. No reputable lender would make a loan, only private individuals who would charge an arm and a leg (and a bunch of shares as well).
DeGen
Ps: Troy I had some concrete laid in Reno when is was too cold and regreted it 3 years later as it had to be jack hammered out at my cost as the contractor was not to be found. It cost three what it should have if the concrete was poured in warmer weather. One must be patient, just like the shareholders of ERHE, when springtime breaks maybe the deal will be done, the DOJ settled by our new CEO and a nice concrete driveway at Troy's house.
Does ERHE even rate being a flea?
ERHE has the DOJ on it's back,
is planning on spending the only cash it has or had,
has no immediate income to come in and possibly a great outflow if the DOJ slaps a big fine on the company,
presently has no CEO,
it is located in a region of the world that is considerable unstable with political upheaval a very strong possibility, its operations are kept secret from the shareholding by management,
is controlled by a foreigner whose personal plans could very well conflict with the best interest of the company,
etc. etc.
But it could be a golden flea, emerced in a sea of oil, doing the backstroke while watching oil revenues roll in without having to do a thing.
DeGen
Ps: Is this a positive post or a negative post? You make the call!
Pss: The only real question is, how much oil is down there, the answer will determine what the shareprice will be when this is known. One MUST be patient.
A reasonable explanation for no CEO for seven months or at least the recent delays could well be caused by this so called "deal" that is supposedly in the works. Even if this supposition is true, having no CEO for that long a period can only hurt a company's shareprice. Few potential new buyers for this company would delve far into the company's reasons for not having one, and only see the fact that there is NO CEO and go looking for another investment. Those that have the knowledge about the company will remain investors based on many other factors and overlook the no CEO situtation.
So I guess all of us are stuck with the situation and can only hope resolution takes more than a fortnight.
Lughead, would say, "OIL IS EVERYTHING" and is the bottom lince (as in baance sheet)
I think the gala event, should be called. "whatever oil is found is Vegas, stays in Vegas", should be celebrated in Vegas, and occur when the spareprice hits $5. This is just like my other favor stock, only that event will never occur.
I thought it was worthwhile to have a "scam" discussion discussion here as I should cross everyone's one and the facts weighted on whether it is or isn't. Of course most of us here have alredy fully decided on the issue or we would not be here. I was involved in a company that started out as a pump and dump, but the company had a product that for a while did amazingly well and had soon had a bright future, just like the pumpers foretold even though the founders were crooks. EHRE has too much and too long of a history to be pump and dump. Anyone that disputes this is a REAL company should NOT be here.
But as far as the share price continuing to hover around 40 cents, this continues to be very disappointing to everyone here. The potential remains, but the three big if's continue to linger as another week ends. No CEO, no resolution of JOD and no announcement on a RIG or OIL.
DeGen
Ps: We remember OIL IS EVERYTHING, and oil is a long way off, so lets cotinue to be patience another fortnight or two or four or twenty or fifty.
Pss: Tapco, great summary but will fully read later on my fight to Buffalo, your old stumping ground. A wedding March 3.
beans, with the amount of shares I buy, I am better off on a bigger exchange. On the NASDAQ pinks the MMs really take advantage of you and the cost of the trade because of these mark ups becomes significant. Except for the complexity of IB statement (just poorly done) their costs were very reasonable for the trades.
Maybe OT, but most here file with the IRS I would hope. Through this ERHE investment I also found interest in Addax (AXC - TO) and invested in that stock through Interactive Brokers (IB)since they are one of the few American stock brokerages that trade on the Toronto Exchance for a reasonable cost. I also used IB to buy shares of a company on the London Exchange (Party Poker) but that's a whole nother story too off topic for this board. But back to Addax which is on topic because of its relationship to ERHE. After being with IB for over a year, I always felt there statements were nearly impossible to understand with all the details in various currencies and not often enough converted to dollars which brings in the IRS theme. I had over 50 trades this past year and the majority of them through Ameritrade (all but the 3 trades with IB). Well the do the input into TurboTax from Ameritrade took way less than an hour. But because of the complexness of the IB statements, to do the lass 3 trades show on IB took over two hours. I am well educated, an additional degree after college where I earned a BS in Chemical Engineering. Not to toot my horn, but to give you a perspective on how bad (complex) the IB statement is.
Although the competition in the selection a brokerage house for foreign stocks, like Addax, is very limited, I would recommend staying away from IB because of the extra time you will need to spend on the statements. I have now closed that IB and am very happy that it makes my life simpler. Even if one uses a CPA I can guarantee, there will be extra charges once the CPA spends hours on those IB statements.
So, as far as I am concerned, I will stick with investing in companies that I can purchase using Ameritrade, like buying more ERHE. With that in mind, the small dip in the shareprice to drop under 40 cents is disappointing, but maybe the time to pick up shares at a bargain basement price. After buying 100K shares last week, my portfolio is OVER stuffed with this stock and it would not be prudent for me to buy anymore even though I feel this is a wonderful opportunity. Opportunies like this may not come around ever again. As I have said before I did not believe the price would ever dip below 40 cents ever again. But I have been wrong before and may be wrong again. But I just believe the "odds" are in my favor, if I was a betting man.
DeGen
Ps: Being conscience of those who review these posts for topicness, I would hope there is enough information that would help other ERHE investors who may be considering investing in foreign stocks. Just trying help other investors.
Pss: Having one stock I invested in heavily for over 6 yrs go bankrupt this past year because of some stupid American law recently passed, created enough taxable losses to cover me if ERHE goes to $5, so all my future gains will be tax free. Is that some consolation prize?
The increase in volume along with the moderate price rise could be the prelude to the big PR announcement about the elusive deal being worked on. If the volume and price continue to increase, it could mean the announcement is coming soon. Maybe in a fortnight!
DeGen
Ps: Maybe I should have spelled soon, soooooooooooooon.
Electick, first I would like to thank you for posting here. I respect you posts and your discreetness. Your information appears very reliable and is very much appreciated.
It appears you believe the monkey wrench in the deal on table is the DOJ and that is NOT going away in the near term. So hopefully that pill will have to be swallowed and accepted as is where is. How can it be negociated since it is out of the control of all the parties.
Since there continues to be no CEO appointment, I would venture to guess that must be part of the deal. That makes sense since new blood would want the "own" people at the top and in control.
So when the deal is finalized and the PR released, I would guess the deal and CEO are in one package.
DeGen
Ps: Again, thank you for your contributions, I really appreciate them.
I see my price predition of opening this week over 40 went out the door, but I would hope to be over 40 by week's end. It may be a while before another PR is issued or maybe a CEO will be announced and cause a little surge. But what do I know only being here about a year now. I think anyone with less than 3 years is considered an underclassmen and gets minimal respect.
DeGen
Ps: I like the idea of the "censor" emailing the offender to rewrite the "BAD" post cleaning it up. Sounds fair to me.
Pss: This is a repost of of a deleted post that I cleaned up by removing "foul" language. No problem CHCR, I saw this wording before and thought it was OK since it was an appreciation not the full word.
Not being a big fan of Oily I usually dismiss his "predictions" based on past reliability and vagueness. However, this MPE vs Chrome battle, is not that vague and has others somewhat verifying it. Talk of MPE buying SEO's shares has been kicked around here before and makes sense with the former ERHR employee connection at MPE lurking very heavily.
Shareholders can only hope the battle is a bidding war between the two and the tag team members are banking the participants. I still question how it is possible for any buy out/in bids could reach whole dollar figures when the shareprice is under 40 cents. I also believe if this buy in/out was really lurking in the background the shareprice would be on the rise. This kind of rumor / news should be known by enough people to have a positive effect on the shareprice. Good inside information always leaks a little.
So, is something really in the works or is this just more smoke from Oily. YOU MAKE THE CALL!
DeGen
Ps: Morning betting line / odds on a buy in/out in the next 30 days is 10 to 1. A long shot, but it might be a value play, like Hester scoring the first touchdown in the Superbowl at 20 to 1.
Well a few posters that haven't been around lately have showed up. I guess the PR brought them out of hibernation. It would be hard to believe with all this talk about something going on behind the scenes regarding a buy in/out or some kind of management upheaval, there MUST be something going on. But whatever it is, will it help the shareprice. With all these "leaks" about the ongoings one would think the shareprice would be shooting upward, instead of falling under 40 cents.
I still believe the softness of the price is the lack of any change on the the big three ifs, a rig/or drilling, a CEO, a resolution to DOJ. Hopefully, something on this front will break soon and result in the a shareprice rise. Meanwhile, I am VERY happy with the 100K share I picked up last week at an average cost of 39.2 cents. IMO, ERHR will open over 40 next Monday and not see the south side of 40 ever again.
DeGen
PS: I needed a little bit more!
brez, I don't know how the "trades" are reported, but I do not I bought exactly 90,000 shares today.
I took my own recommendation about buying more EHRE when it went under 40 cents. Today I picked up nearly 100K more shares and still believe we are at or near the bottom. News could break any day about a rig on the way, an update from one of our partners, a new CEO, or EHRE doing another "deal" with the cash on hand (as indicated in recent updates). It is very much more likely "good" news will be issued then "bad" coming out. With that in mind, the a better shareprice will result. Again, I recommend buying under 40 cents while you can.
DeGen
The three BIG ifs remain out there, DOJ investigation, the new CEO appointment, and whether there is oil (which will be known WHEN the drilling occurs). Not much change on the DOJ and CEO front, but as far as knowing about the "oil" maybe it is becoming clearer. This based on the doubt about the amount of oil in Block 1, based on Chevron's public statements. Most here realize that Chevron has been downplaying (disguising) there drilling results. Over the short term this has hurt EHRE's shareprice because of the the doubt created by Chevron. Over the long term, this "guise" will be uncovered and the truth will be known. When this occurs, the "correct" shareprice will then be in place.
So what does this mean? IMO, right now it a buying opportunity (especially if one can pick up shares under 40 cents). So those who are smart enough to buy now, should actually thank Chevron for artificially lowering ERHE's shareprice. No one knows when Chevron will actually reveal the real truth, but when it occurs, get ready for a real boost in EHRE's shareprice. Hopefully, Chevron will be drilling very soon and the results of the new drilling will be accurately stated.
Of course, if someone sights a drill ship heading for the JDZ you are certainly welcome to report it.
This may be a good weekend to put EHRE on the back burner and get ready for some football. I heard there is a big game Sunday, so let's all sit back and enjoy it.
DeGen
Ps: I will certainly enjoy it more if the Colts win by 6.5.
What if EHRE is paying Offer 5 times the going rate?
Speaking of the 39 cent shareprice. It appears the market did not like the PR. As has been said, all fluff no meat. As I said, No CEO, No DOJ resolve, No oil proven. This results in the doldrums and with the doldrums the shareprice drifts lower. Okay, another buying opportunity now the share price is back in the thirties. Load up!
What is a normal buy out premium?
I owned Station Casinos a few months back when a buy out offer was announced. The shareprice was about 68 and immediately jumped to over 82 when the offer was announced. The offer was about 81-82. That was a whooping 20% jump on that day. So if that being the "standard" what would a buy out of ERHE be using that same standard.
Let's see, right now the shareprice is 39, so the buy out would be at 41 (with a 20% premium). But some are expecting 600!!! Who would pay 600 when on the open market you can buy for 39? You people are dreaming if you believe in those three digit figures. Even a buck would be unreal.
That a good question to ask EHRE, is Chrome sharing the "new" space and if so are they "paying" anything for using the space?
I first would like to thank gary3699, keeneypr (good name) and getgreen (although a little late) for posting the ERHE PR.
Since I have some experience in commercial real estate I would like to comment on the office lease. The total space of over 5,000 sq ft. could easily accomondate 30 people and considering the present number of ERHE employees, there will be plenty of room to grow over the next five years. But for a while (a year or two or more) ERHE will be paying for "UNused" space. This is not very economical presently, but I do not know the future plans and would hope that this space is filled with productive employees at some time in the near future.
As far as what the PR indicates about this lease, maybe a 3 year lease with an option for 2 more years to total to the 5 years actually stated in the PR. This by no means is considered a "long" term lease in commercial real estate. Maybe EHRE considers it long term, but IMO it would have to be at least 10 years to be considered long term.
However, for ERHE to commit to even this lease is quite promising. The mangement is thinking about the future and planning for bigger and better things. This could only indicate a brighter future and should dampen any thoughts about ERHE being bought out in the near term. It is hard to believe all this talk the OILY's post generated about a buy-in and a cash infusion and distracted from the PR.
Granted the PR was not really any new news, but it was sure nice to here from the company. The three big IFs remain out there, when will ERHE get a new CEO, when will the drilling begin and when will the DOJ be resolved. My guess, (in order) a fortnight, a fortyear, and a couple of fortyears.
Patience is a virtue and all of us will have to continue to be patience. One of my favorite expressions from another board, was soooooooooooooooon!
DeGen
Ps: The OIL IS EVERYTHING
Thx, Troy and Tap, for helping me be able to read the posts MUCH easier. Its help like that us old guys need. OT, by the way another improvement for reading the posts will by my cataract surgery this month. But in the mean time those BIG letters sure help. Thanks again guys.
Thanks ND trader, good summary for those like myself had trouble reading the small print.