You can't always get what you want, but if you try sometimes, you get want you need. Rolling Stones
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Rambus, thanks so much for the Addax info, the chart showing the proposed drill says it all. I hope Addax runs ahead of schedule.
Hunter, I too have had posts deleted that I felt were on topic but maybe a little negative. It appears the moderators run a tight ship here. I too hold over 100K shares but do not trade them. But when I have negative feelings about the goings on (especially vague posts by Oily), I feel it necessary to comment. I posted odds of 10-1 agains SEO "speaking" when oily said SEO would speak last week. Of course anyone who bet against Oil would have won. Maybe the odds should have been 100 to 1 (lol).
DeGen
Ps: Peace brother, bury the hachet please.
With the news from Chevron, I expected trading in the 30's today, but it appears from what has been posted the AM that most here believe what I alluded to last night. Yes, Chevron is blowing smoke about what OBO has to offer or the news that was reported got little exposure. The news was very difficult to read as the English tranlation was not very comprehensible, so that may be the main reason for the non reaction by the market.
DeGen
Ps: I realize Tryoty and Dbernet and were given credit for "their" analyst of this sitution, but basically they both reiterated what I stated earlier. I know they are more respected here as I too respect their opinions, so maybe I too should get some respect. I know with a name like degenerate gambler it is hard to give much credit with a name like that. But aren't we all "gamblers" by investing in this stock?
Is this article another example of Chevron downplaying the amount of oil in OBO? Are they still trying to steal other's oil rights with low bids because Chevron "says" the oil in block one is not enough for commercial production. But mean while Chevron decides to drill a few more holes to "make sure" there is not enough for commercial production. Why would they waste the money for more exploration drills after they say that. Yes I think Chevron continues to blow smoke.
Aussie, I too love both Badog and Balance's posts, their discussions are very thoughtful and enlighting. But the bottom line is: SHOW ME THE OIL
Note the portion of the PR from Doug's post I put in bold.
Chevron lifts lid on Obo discovery
By Upstream staff
"Chevron has finally acknowledged that last May's Obo 1 wildcat in the Joint Development Zone between Nigeria and Sao Tome & Principe was an oil discovery.
However, country manager Tim Parson, speaking at the weekend in Sao Tome, said the quantity of oil did not justify commercial production. "
Wouldn't that statement lead one to believe that this is NOT a major find? Wouldn't that statement lead one to believe that the neighboring blocks were NOT a major find?
I can only hope that all this talk about Chevron "down playing" the amount of oil in Obo is really that. But possible new investors in ERHR may tend to actually "believe" what is in print, and not believe that Chevron would actually lie or play dirty tricks. Maybe this is the KEY reason the shareprice is where it is in the forties.
IMO, the oil must be proven up before the shareprice rises. Oh, of course resolving DOJ and finding a new CEO might also help.
DeGen
Troy. Doesn't Cramer recommend a five stock portfolio. If so, I would think it be best to buy unevenly. More to your favorite and less to your fifth pick. I kinda equate it to betting on five football games on a regular weekend. My best bet gets $500, then $300 for next two and $200 for four and five picks. That's 33% for pick #1, 20%, 20%,13%, 13% on down. I see no reason not to have as much as 33% in one stock if you feel its you "best" bet. Although one might think this post is not on topic, I think we all know this is about ERHE and how much of a percentage of one's portfolio this stock should be. That is because I believe most here "believe" their best stock pick is EHRE.
DeGen
Ps: Yes, EHRE is my "A" pick. Just like the Bears this weekend.
Only a degenerate gambler would post a morning line on whether SEO "will talk this week" ----
Opening line 10 to 1 talk WILL occur
This week is defined as ending Fri midnite EST. Talk is defined as any PR with a SEO quote or any actual spoken word by SEO picked up by the wires or in any newspaper.
Den Gen
PS: Bet can be placed at Pinacle Sports, (but only non US since Frist snuck in his igaming bill) or maybe oilphant will "book" the action.
Getting a drilling rig would be very helpful in determining if and how much oil there is. But do not expect a major jump in the shareprice when rig news is announced. If the is a spike, the shareprice should fall right back in a few weeks. Only proven reserves will provide a shareprice that will not only be sustained, but continue to rise as the word about this little minnow spreads.
The shareprice is where is it is because ERHR's only asset and only way is make ANY is totallly based on its oil rights and IF there is any oil. The market HATES uncertainty and that is reflected in the shareprice. When, and if the uncertainty (how much oil is "owned" by ERHR) is removed, the shareprice will reflect that. Until then, all the hype in the world will not help the shareprice, only when the oil is proved up will the shareprice will rise (probably a 2-4 times increase) if the announcement is what most here believe the oil reserves to be (16-18 billion barrels).
Mark, Thank you very much for your update. The due diligence you share with this board is above and beyond the call of duty. I think what you do for all all of us here is wonderful. Thanks again.
DeGen
Just the fact that a company does NOT presently have a CEO could prevent future investors from considering ERHR as an potential buy. Or once that fact is noticed, not investigating any further. A NASDAQ:BB already has enough going against it, not having a CEO just looks VERY bad. No new investors will definitely hurt the share price. The company has to get one sometime, the sooner the better.
Mick says ERHR needs a CEO!
Still no valid reason why the shareprice jumped 30% in one day a month ago. The speculation of what will / could happen continues to run rampant while nothing IS really happening.
Where's the drillship?
Where's the buy in?
Where's the resolution of the DOJ?
But most of all where's the new CEO? How long is this company going to go without one?
DeGen
Ps: The real question is where's the oil, but we all know its down there!
My TDAmeritrade says: Vol. 425,454
OT Thx, crappie. I submitted a request for a change.
DeGen
Does anyone know an easy way to correct the spelling in a handle with IHUB, yes mine should read degenerate gambler, not degererate gambler. TIA
Marty, I investeed in ERHC because of the OIL (huge amount of oil). I cannot predict what gov'ts are going to do and I accept that kind of risk. I can only know there is such a risk and that is why the shareprice is where it is at. IMO, this risk is worth the reward. My average cost is about 70 cents, but I am expecting a four bagger (at least) from that base over the next year or two. Where else can you get that kind of multiplier? You can't do anything about the political world, just like you can't do anything about the whether, so my investing in ERHC accepts that risk.
Did you considered my handle when you asked that question? There is a "gamble" in everything, including my handle.
DeGen
I would like to thank Balance for his excellent "observations" and opinions. Also, BaDog for his discussion with Balance, although I agree with Balance much more.
But I have my fears as everyone should. If this were a no risk situation the shareprice would not be in the 0.40's. IMO, the risk is not oil or the amount of oil. The oil is there. The risk is all political. Future elections in Nigeria, as well as the current political unrest (the rebels) and the DOJ in the US. Any one of these three could result in very bad news for EHRC.
In the past I have been heavily invested in a company whose share price dropped over 90% when the US Congress passed "unreal" legislation that put the company out of business. Even though this legislation was not expected to pass and over 75% of American public was AGAINST this legislation, it STILL passed Congress without even one second of open discussion. It was all done behind closed doors and then "tacked" onto to MUST pass legislation at the midnight hour. So, you never know what can happen when it involves politics. The shareholders as well as the public are just outsiders looking in and at the mercy of the politicians greed.
I personally have my doubts about any "pending" buy in/out offers in the $3-$6 range based on the reality that the shareprice in under fifty CENTS. When it is too good to be true, it usually is NOT true. It is nice that most here keep the "hope" alive, but IMO the shareprice must start a rapid climb upward for any buy in/out to occur in that range. If any insider had any information what so ever that this deal was in the making, the share price would show it. So far, the share price just hovers under fifty cents.
This end of Feb 2007 marks my one year anniversary in ERHE and I am WAY underwater with a boatload of shares (mid six figures). After being burnt by one OTC stock, I have not learned my lesson and I jumped into ERHE with both feet. So please do not take my opinion as being very educated, it is only my opinion and I sure would like to be proven wrong.
DeGen
Merry Christmas to all and Peace on Earth! Please do not let the football games on TV interfere with the joys of the season.
I would like to thank all here who continually take the time to share their thoughts here on IHUB re EHRE and share all the due diligence as well. I am sure most here realize we are sitting on a investment that could be one that "explodes" in 2007 or 2008. Those here have truely found a once in a lifetime investment. I would hope that 2007 brings an rig to the JDZ and the DOJ situation gets resolved. IMO, the oil is a given and it is just a matter of time until the amount is proven up.
DeGen
Yes, the idea of DOJ "cooperation" is extorting money out of the companies doing "criminal" activity in the form of a cash settlement to make the matter go away. More cooperation only means paying the DOJ more money. That's the govt idea of justice. Its the govt's way of saying we accept bribes!
Not much new news about Nigeria oil situation. Only comments about the civil unrest and disruption to the big oil companies there. Nothing we did not know already.
Maybe I am a degenerate gambler, but I am not a pervert. Maria is a FOX in any one's eyes.
HURRY - News about Nigerian Oil to be on CNBC on "After to Bell" (starting 1pm PST) Watching Maria is worth it even if the news is disappointing!
With a gain like this over such a short period of time, there must be a "news" leak that insiders are taking advantage of. My guess is the new will be announced at closing today and hopefullly discuss a drill ship that Margolus indicated would be coming.
Tex, I am a gambling man and I am betting with you, in fact I am all in. Too many shares!
Not sure why the US has a holiday for Labor. Is it for the workers
who provide the labor or the women who had to go through labor to
have children? Either way, does not make a lot of sense to have a
holiday for either reason. Anyhow, I hope everyone has a relaxing
Labor Weekend and then come back to the realization that the Senate
will be back in session very shortly. Labor Day also marks the end
of the summer vacation season, so the stock market should be in full
swing the next few months (until Thanksgiving, Christmas slow
season). Maybe a few smart buyers will see the
oil" and
realize that now we are at bargain prices. The only problem will be
if the institutions will not get involved with the DOJ over our heads
As far as WG vs. ERHE goes, I feel WRHE will reach $5 before WG even
will a dollar plus handicap. But both companies continue to be
diamonds in the rough and yet to be discovered by the mainstream
investment community. When they are discovered, then and only then
will they reach $5. For ERHE that should be in 2007 while WG may
take a little longer with the legislation black cloud looming till
at least Jan 07. However when WG reports full year (2006) earnings
next Apr or May (or June) the shareprice should get back to at least
$3.
All of these thoughts are open for discussion, or you can just sit
back a have a few beers over Labor Day weekend.