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I think the continuation of the drilling is big.. I know they were contracted, and they need to follow through to show the JDZ and the EEZ that they are serious and want to develop this area. But if the early findings were crap they would have bailed. Just to expensive to keep drilling if there is nothing to develop. If there is a big field I think that we will hear another everthing is going to plan in early Dec. and then early Jan. 2010 we will get an announcement that ERHE and ADDAX has agreed to spud five to seven more wells..
Two in block 2, Two in Block 3, one more in Block 4 and one in Blocks 5 and 6. All to be completed by August 2010.
This news would be big for the SP.
EEZ blocks will be won by ERHE in 6 blocks sometime in March.
SP end of April $2 to $5....
I see no buy-out deal, this may be to big right now for any buy outs right now. I don't think a buy out is not good until we see how many EEZ we will own, and what potential there is..
No buy out until fourth quarter NEXT year...
Well, I spent my last $$$ on 10.5k more shares, I need to keep some $$$ for my divorce.
sorry, just got caught up and there is news, great
News this week, hopefully confirmation that they are drilling the additional two holes in Block 4. If not, thats not good..
Give us something this week..sirlion will due, filet migon can come later..something to make my info hunger go away!!!
Anyone know if they are done in block 3 and back in 4?
Update due this week from the big wigs.. More of the same, drilling going to plan, hopefully they will say Pathfinder back on Bl 4 somewhere. If they keep to their plan and drill the remaining two wells on 4 , that in itself is very positive.
Lets see what they have to say..
well, the bright side is, the MMs will fade the SP to .61 or so and I get paid this Friday, so I think I can get a couple more shares on Monday...:)
Thanks Southern, you are correct..that means there are three more lottery drawings until then..Gives me something to do..
I suggest others take up a hobby til then. :)
Thanks Mike...
Art???
Great! so, if the news is at the lowend, what do you value ERHE at and if it comes in at the high end what do you value ERHE at?? In your opinion of course..
I know how to get the price over $1 today!!!
All I have to do is sell my shares and within an hour the price is sure to go way up...:)
Need an update NOW!!! Calm everyones nerves.
We need an ERHE update this week to ease some fears. Maybe just a "drilling going according to plan", and clearify the next couple of months of planned drilling....
I think we will see .61 next week, get your last minute shopping in before the holiday rush!!!
In August, Gulf Keystone announced that its first exploration well in Iraq, Shaikan-1, was a major oil discovery. The final drilling results are still awaited and should be communicated to the market by mid October.
Notice the announcement in August and they don't expect drilling results til October. That is about 2 months before results. When did they drill the well I wonder.
So again, we need to have patience. If the info is correct and they are finishing up drilling this week, that would put news in or about Mid-December for official results. If we get lucky and announce a big find before then, that would be good.
So everyone start getting their holiday shopping planned, vacations planned and hope oil goes over $100 / bl by the end of 2009.
I think we will really know whats up when we get at least 2 holes in each block. IMO if they keep drilling gathering info it's great news. When they stop putting money and time into the block I'm a little worried. I know maybe they hit an elephant and don't have to drill anymore. We all wish that.
But like other posters said, deep water fields need to produce a good amount of oil to be worth doing. So, the more holes the better. The lack of Drill ships puzzles me, maybe when info is analyzed and they find out there is a lot of oil, maybe they should pay a premium for the ships and get them to drill for us...,screw the contracts...money talks and BS walks
Our update is due any day from ERHE. I'm sure it will pretty boring.. They will say drilling is going to plan, have patience blah blah blah.
I hope they clarify the next round of drilling for the remainder of the 4th quarter. There are a lot of different opinions out ther and so called contact info.
But if we can hear it straight from the horses mouth that would be encouraging.
Nas, NYSE are dreams maybe for fourth quarter 2010, but I don't think ERHE will be around by then, they will be swallowed up by a whale if all works well in the next couple of months..
Bottom line..if the drilling stops and there are no drill ships available theres probably not enough oil to continue..
BUT, I think there is plenty and things will look good by 1st quarter 2010.
Anyone have a time machine???
I have to believe though that if the updates on this board were in fact 100%, smart money with better contacts in the region would be checking it out and if found to be factual, buying in pretty heavily by now. That's why IMO there are no 100% updates at this time. We will be the minnow investors if all of this is true, a LOT more money will be trying to get in once official news is printed by a news source.
Probably not, but if they did they rarely believe what's on these boards.
But, the positive is very very low volume, which IMO is not a bad thing at this point.
It looks like the general investing public doesn't believe in any of the recent drilling updates...sad
Next week should our monthly update.
Because the general investor will not buy a cash stock knowing there won't be any news for several months. The trickle down are immpatient ERHE investors that are using the money to invest in other things short term until the news gets closer. They will get back in when the volume picks up to mil + on the daily average. We will probably see .66 for a while.
This process will take months. If ERHE is gonna be bought (99.99999% probability) the majority of the blocks that ERHE have interest in have to be drilled to some extent to confirm how much oil, where the pools are etc. They need to narrow the area down to prime drill sites. Remember these drill ships aren't cheap. I dought if they are gonna release any data until the actuals are compared to the probables that they have compiled over the last several years. All of us would love some big news NOW, but I afraid we still have several months to go before some real numbers are put together and a good company will put up BIG money to buy ERHE rights.
Arts update sounds familiar.
about what
It's a dog eat dog world, believe me the 5 employees of ERHE don't give a rats arsh about you, me or any other ERHE investor. They are all worried about numero uno..how much THEY will make off of this deal.
They are all busy sitting on the beach drinking Coronas looking through their binoculars waiting for oil to spout out of the top of the wells. :)
getting close for the wells to completely drilled to the planned depth. That's if everything went ok...
Are we close to news about the wells, imo no. I think another update from ERHE with little info will come first. When that news leaks out the volume will rise and people will buy into the rumor. And when it's just another update of "the drilling is progressing to plan" everyone will sell the news off again.
IMO there is something in the works that depend on the results of Block 2 and 4 and we will NOT hear about any actual drilling results for at least a month.
I think you've hit the nail on the head stocks2rise. There is a lot riding on the outcome of Blocks 2 and 4. Sure for ERHE but like you said the $$$ of EEZ and other areas in the region. If they leak premature info or wrong info it could squash any deals on the table. I don't think any info will announced until after EEZ or a deal to buy ERHE is reached.
I think a good time frame will be mid-December....
On a positive hopefully on topic discussion...
What do I do with several million dollars once it comes in.
What do millionaires do with their money...
Where do you keep it(besides your matress) where it will be insured???
IMO... I think we should see a buy-out offer after the first news on either of the Blocks. And there is no reason why it shouldn't be between $10 and $15 sp
We must have patience, quality news will take time.
I don't think we will here any drill news for several weeks.
I do think that we will be issued another update on Company activities from Peter Ntephe, chief operating officer early next week.
To reiterate some of the last update!!!
A commercial oil discovery is certainly the desired outcome.
Over the coming four months, a total of five wells are expected to be drilled.
Each well will be evaluated using several standard oilfield methods and the rock properties and reservoir fluids will be measured and evaluated.
The information from these wells will assist in understanding the geology and hydrocarbon potential of the various prospects being drilled.
More importantly, it will help the exploration team to understand the prospectivity of the entire area.
Looks like we will test the .90 sp by Friday. Hopefully there is some official news when we do. Next weekend should be exciting...
Maybe by then this whole insider trading "discussion" will finally be over. We are like CNN news, repeat the same story over and over and over
ERHE train is leaving the station next week, all believers climb aboard, all others stay away because you'll get run over...
I think we will receive our normal update telling us everything is going to plan, reiterate some drilling plans and end it with more drilling updates when they finish some more holes so they can get a better idea of whats down there. But that is ok. As long as they are drilling we're good.
YM that was great! Sums up a lot that is going on..
I love this action of the SP and volume.
This makes me believe that we are going to ahve a great run when the news does come out. If the sp was .85 plus this would concern me. I'd rather have a lower sp on low volume and then let it rip when the good news come out. I love this action...
$4.00 to 12.00 soon...Dec 09
I think ERHE should withhold any news until the drilling is complete and all of the picture can be painted(hopefully as a beautiful piece of art).
Any scraps will just cause Volatility and uncertain in the SP.
I've seen other pennies release garbage to move the SP and just fail in the long run.
If ERHE is true, they will act professional from here and just release proper news that is important to the success and not BS to just move the SP for day profit.
I think right now NO NEWS is great news....
By the end of September hopefully all of the news will be offered.
pete I totally agree. Let the flippers flip and they will be left out one day.
I'm first time poster. I have been invested in ERHE off and on for the past 5 years. This seems that it is the time we have been waiting for. The reality of the long wait is very near. I feel that this company will be $5 - 10 within the next three to six months. Right now the holes they are drilling are to verify all of the high tech. information and results during the past several years. This is a process that will take a few months and some more drilling. We are all hoping for the first few holes to be gushers, but the likelyhood of them being one are about 25% to 50%. I think everyone should be patient with process and not react on every little bit of news from these drills. Obviously there is something there or these companies wouldn't be spending money to drill. They have to narrow the field by drilling and verifying data from earlier. Eventually they will HIT a BP find like the other day. But this will take time and more drilling. But it will happen. BP didn't just take some readings and say HUM drill here and hit the size well like they did.. It took them months or years, but now they are on it! And the next holes will be easier to drill with more success.
SO, ERHEers' have patience, these next few weeks is the start of the journey we've waited years for... I think there is not going to be any news until the end of the month..They will then give up all of the data and tell us about the find and plan the next hole to get closer the prime area... So, wait and we shall learn valuable info in just a couple of weeks...
GO LONG NOW, the price is definitely RIGHT...
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