Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What a great week for news. First the Houston Chronicle and now Upstream. It sure would be nice for next week for it to be the JDA's turn. Long & Strong ERHE!
ERHE, tic toc, tic toc....65 nice..eom
sideeki, this is better than good. this mean's exxon is our partner. I bet they do not like that one damn bit. lol a hell of a day for ERHE!!!all good...Go ERHE
***NEWS*** ***ERHC*** ***FRONT PAGE***
March 13, 2005, 12:42AM
http://www.chron.com/cs/CDA/ssistory.mpl/front/3082404
African nation promises local ERHC Energy a share of profits
By DAVID IVANOVICH
Copyright 2005 Houston Chronicle Washington Bureau
The impoverished West African nation of São Tomé and Príncipe may soon become the world's newest oil exporter, and its leaders have entrusted the country's great hopes to an obscure Houston company.
The winner of this prize: ERHC Energy, which has one full-time employee, $21,000 in cash and no experience drilling offshore.
This little-known company, based in a Westheimer office building, has been promised a share in a potential crude bonanza in the Gulf of Guinea.
São Tomé and neighboring Nigeria have been evaluating bids from oil companies wanting to drill in waters that are believed to hide more than 11 billion barrels of crude.
Five offshore blocks in a joint development zone are up for grabs. Little ERHC has been guaranteed a cut in each one.
"I've never heard of anything like it, anywhere in the world" — at least not since Africa's colonial days, said Jedrzej George Frynas, a lecturer in international management at England's University of Birmingham.
Exxon Mobil Corp. has been granted rights to claim a stake in two of these blocks. The oil industry is watching to see whether the world's largest publicly traded company will jump in with this strange bedfellow.
ERHC's aggressive, penny-stock investors are all but salivating at the prospects. On Web sites such as www.ragingbull.com or Bradenton, Fla., investor Joe Shea's weblog, erhc.blogspot.com, they trade tips and rumors as they await word that the blocks have been awarded.
"I'm a little disappointed that I'm not already a millionaire," Shea said.
The story of how this small company gained such influence is drawn from interviews with government leaders, company officials, diplomatic sources, human rights groups, Africa specialists, and oil and gas analysts.
Eight years ago, ERHC officials waded out to remote São Tomé before others in the oil industry were willing to give the twin-island nation more than a passing glance.
The company has since negotiated a series of deals its competitors can only envy.
Critics say ERHC took advantage of a commercially naive government with no experience in the oil sector.
But despite successive political uproars over its contracts, threats to jail the company's chief executive officer and revelations of a $100,000 payment — not to mention a coup attempt — ERHC has held on to its prize.
RESOURCES
TIMELINE
A short history of ERHC Energy:
• 1986: Colorado-based Regional Air Group Corp. is formed. The company later evolves into an environmental cleanup firm known as Environmental Remediation Holding Corp.
• 1996: The company reinvents itself again as an oil and gas producer.
• 1997: ERHC officials explore oil opportunities in São Tomé and Príncipe, an island nation off the West African coast.
• 1998: ERHC helps establish a state-owned oil company in São Tomé and takes a 49 percent stake in the entity. What's now Exxon Mobil provides technical assistance and earns its own special rights.
• 1999: The deal collapses. ERHC CEO Geoffrey Tirman accuses São Tomé's lead negotiator of demanding bribes. The government cries "sedition," and Tirman is forced to flee.
• 2001: Nigeria and São Tomé sign a treaty to create a joint development zone. Tirman sells his stake to wealthy Nigerian businessman Emeka Offor, who negotiates a new deal. ERHC moves its headquarters to Houston.
• 2002: São Tomé's new president, Fradique de Menezes, again demands a new agreement.
• 2003: ERHC successfully negotiates current agreement. De Menezes acknowledges Offor made a $100,000 campaign contribution. A coup attempt in São Tomé fails.
• 2004: ERHC teams up with Pioneer Natural Resources, Devon Energy and Noble Energy to bid on three offshore blocks.
Source: Chronicle research
Known for its stamps
Straddling the equator, the nation of São Tomé and Príncipe is a former Portuguese colony of 150,000 people.
For generations, its economy was dominated by cocoa and coffee exports, and stamp collectors knew São Tomé for its Elvis Presley and Marilyn Monroe stamps.
But São Tomé also is in the hydrocarbon-rich Gulf of Guinea. And as oil producers pushed out into ever-deeper waters hunting for crude, São Tomé took on a new luster.
Enter ERHC. Founded in 1986 as Colorado-based Regional Air Group Corp., the firm has morphed through several business plans — airlines, environmental cleanup and now oil and gas producer — and has undergone three major management changes.
At fiscal year's end last September, nearly 10 percent of the company's stock was controlled by Nigeria's First Atlantic Bank.
The bank was issued the stock to settle a lawsuit against the company's chairman, Nigerian billionaire Emeka Offor, and his various business interests, including ERHC. First Atlantic, seeking repayment of a $57 million loan, had accused Offor of fraud.
And no one really knows, yet, whether all the great expectations will prove true.
West Africa accounts for 15 percent of all U.S. oil imports, a figure that is expected to rise in coming years. And the Gulf of Guinea has been prolific.
But many of the oil prospects off São Tomé are in waters more than a mile deep. And in such depths, fields holding 100 million barrels of crude may not justify the expense.
"Everybody talks about it as if there's no exploration risk," noted Michael Rodgers, a senior director at Washington-based PFC Energy and an expert on West African oil. "No one's drilled a well there yet."
Company came calling
In 1997, executives and shareholders for what was then known as Environmental Remediation Holding Corp. approached tiny São Tomé about developing its offshore resources.
When approached by ERHC, "we had no experience, no know-how," Luis Alberto dos Prazeres, executive director of São Tomé's National Petroleum Agency, said in an interview.
Longtime ERHC investor Phil Nugent is more blunt: "They didn't know pipe was hollow."
Those talks led to the creation of a state-owned oil company.
With the promise of a $5 million investment, ERHC was granted a 49 percent ownership stake in the company.
This initial deal included a pledge that ERHC would provide college scholarships for São Tomé's youth, with the idea of creating a cadre of homegrown oil and gas experts.
São Tomé's lead negotiator in those talks, Carlos Gomes, sent his son to study in the United States at ERHC's expense, the Los Angeles Times has reported. Gomes also took a position in the new state oil company, the Times said, receiving a $4,000 monthly salary paid for by ERHC.
Gomes now heads the Nigeria-São Tomé and Príncipe Joint Development Authority, responsible for awarding the offshore blocks in the Joint Development Zone.
Gomes could not be reached for comment, despite repeated attempts.
Mobil soon signed on to conduct a feasibility study and perform seismic work to evaluate the country's offshore potential.
But opposition to the agreement quickly grew. Critics accused the government of handing over the country's oil patrimony for a pittance. The political opposition insisted the government seek more money.
Relations between ERHC and the government quickly soured.
During a visit to São Tomé, then-ERHC Chief Executive Officer Geoffrey Tirman publicly accused Gomes of demanding bribes.
The government, in turn, cried sedition. Tirman "was threatened with a jail term, so he fled to the airport and took off," Nugent said.
Tirman could not be reached for comment.
São Tomé's leaders also accused ERHC of failing to pay the full $5 million. The deal was off.
Bleak prospects
ERHC sought international arbitration, but its prospects still seemed bleak.
Nugent sought out Offor, who enjoyed not only great wealth but tremendous political clout in Nigeria.
Offor, who holds the titles chief and sir, had been close to Nigeria's last military dictator, Gen. Sani Abacha, as well as to Atiku Abubakar, the country's current vice president.
Back in 1999, Nigeria and São Tomé had begun discussions aimed at ending a longstanding border dispute. Offor assumed a leading role in helping push those negotiations.
In February 2001, Nigeria and São Tomé agreed to create the joint development zone. The pact called for Nigeria to receive 60 percent of the oil revenues from the zone while São Tomé was to get 40 percent.
The treaty cleared the way for Offor to purchase Tirman's stake in ERHC for $6 million. The company's headquarters was then relocated, from Little Rock, Ark., to Houston.
Three months later, ERHC had a new, favorable deal with the government.
Under that agreement, ERHC gave up its claim to an ownership stake in the national oil company. But the firm was promised a share of São Tomé's oil profits, as well as a portion of the signature bonuses other companies would have to pay for the right to drill.
Again, the company's critics were livid. The World Bank and the International Monetary Fund voiced displeasure.
The following year, Fradique de Menezes, São Tomé's new president, insisted the contract was unconscionable and unenforceable.
De Menezes insisted the company renegotiate once again.
Finally, in April 2003, ERHC reached its current deal with São Tomé and the Joint Development Authority.
The agreement grants ERHC rights to take working interests in six offshore blocks in the joint development zone, as well as offshore acreage in São Tomé's exclusive territorial waters.
That means the company can claim a stake in all five blocks being offered, plus an additional block in the future.
Other companies bidding on the blocks must offer signature bonuses, upfront payments for the rights to drill.
Several of the bids for blocks topped $100 million. But ERHC's deal allows the company to forgo making such payments on certain blocks.
Gerhard Seibert of the Institute for Security Studies, an Africa research group, has estimated ERHC's bonus-free options will cost São Tomé coffers $75 million — comparable to 150 percent of the country's annual gross domestic product.
Though that agreement assures ERHC of a minimal interest in these blocks, the company had the right to join the bidding process to win an even bigger stake.
Three large U.S. independent oil and gas producers, Dallas' Pioneer Natural Resources, Oklahoma City-based Devon Energy and Houston's Noble Energy have teamed up with ERHC to bid on three separate blocks.
The idea is they would provide the resources and technical expertise ERHC lacks.
But the agreement again sparked protests. Political opponents accused de Menezes of accepting a $100,000 payment from Offor sometime before the deal was reached.
De Menezes eventually acknowledged publicly that the money had been received, but he characterized it as a political contribution.
Offor declined to comment for this report.
Ali Memon, ERHC's current chief executive officer, said the issue "has nothing to do with ERHC."
"ERHC has not made any payments directly or indirectly to any member of the São Toméan government," said Memon, a native of Kenya and a longtime Marathon Oil Co. executive.
Three months after the deal was signed, military leaders launched a coup attempt while de Menezes was visiting Nigeria.
The putsch quickly fizzled, but the event demonstrated the precariousness of the São Tomé regime.
Throughout these years of turmoil, Exxon Mobil has reportedly steered clear of ERHC.
"Exxon Mobil wished they would go away," Nugent said.
Exxon spokesman LenD'Eramo declined to comment on "speculation or rumor" about the company's attitudes toward ERHC.
The long-running controversy over ERHC's activities in São Tomé helped prod international experts to help the tiny country protect its natural resources.
A group of international law experts at Columbia University crafted an oil-management law to help ensure any new oil revenues don't end up in the pockets of corrupt officials, as has often been the case in West Africa.
Using this blueprint, São Tomé passed a law hailed as a model for resource-rich, Third World countries. "We are in a position to do better than other countries did," the National Petroleum Agency's dos Prazeres said.
But ERHC's contract remained intact.
"São Tomé would be better off if it could get rid of (ERHC's) claims somehow, but I doubt there is any legal standing to do so," said Martin Sandbu, a research fellow at Columbia's Earth Institute.
Dos Prazeres thinks his country needs to begin a search for oil.
"This is the agreement we have," dos Prazeres said. "That's the way it is."
david.ivanovich@chron.com
Hi AMS4900, Nice to see you on IHUB. Please stop back any time. We are looking forward to your post's. Next week should be wonderful for ERHE shareholders if the awards are out.
chcr
Dadd, To let you know you're thought about at this difficult time with sympathy and concern. We are so sorry for your loss.
chcr
Attention IHUB posters. Just to clarify words that are not vulgarity per IHUB, Dam and Hell. So feel free to use them at any time in any context.
ERHC / ERHE Friday, February 25, 2005
Houston Chronicle Story On ERHC Nears Completion
I was interviewed today by the Washington-based senior reporter for the Houston Chronicle who is doing a major story suggested by ERHC On The Move several weeks ago.
A firm date for publication has not been set, but one target is next Sunday, he said.
The interview was wide-ranging, covering both the positives and negatives of ERHC's history and its present prospects.
The reporter had obviously done a great deal of homework and has worked hard to wade through claims and counterclaims in the relationship between ERHC and leaders of Sao Tome and Nigeria, and to understand the role of Sir Emeka Offor in the 40:60 royalty split between the two countries.
http://www.erhc.blogspot.com/
ERHC ENERGY INC (OTC BB:ERHE.OB) Delayed quote data
Last Trade: 0.55
Trade Time: Feb 24
Change: 0.01 (1.85%)
Prev Close: 0.54
Open: 0.54
Bid: 0.56 x 2500
Ask: 0.57 x 2500
1y Target Est: N/A
Day's Range: 0.49 - 0.56
52wk Range: 0.28 - 0.96
Volume: 2,191,594
Avg Vol (3m): 891,727
Market Cap: 349.71M
P/E (ttm): N/A
EPS (ttm): -0.02
Div & Yield: N/A (N/A)
Hell of a nice day for ERHC! Closed ar .55, over 2 million in trades.
Where the hell is JMHOLLEN?
ERHC Eyes Nigeria, Sao Tome Jackpot
Monday, January 31, 2005
LONDON, Jan 31, 2005 (ODJ Select via COMTEX) -- By Norval Scott Of DOW JONES NEWSWIRES
A little-known company with no history of producing crude could be on the brink of becoming a significant player in the West African oil game.
Houston-based Environmental Remediation Holding Corp. (ERHC) holds preferential rights in a maritime enclave jointly operated by Nigeria and Sao Tome & Related Products
Drilling Data Handbook, 7th Ed.
Geomechanics in Reservoir Simulation
Principe, known as the Joint Development Zone. Now the tiny company is set to gain equity in five blocks when the JDZ's second licensing round is finalized, possibly this month or in February.
"We're due our day in the limelight," said Phil Nugent, a Houston-based oil and gas consultant and longtime ERHC shareholder. "At some time the dust will settle and ERHC will be recognized as a viable entity in one of the most prospective oil and gas regions in the world."
West Africa's importance for the global oil market is growing. The U.S., the world's largest consumer, obtains around 12% of its crude from the region, and the U.S. government sees that figure rising to 20% in 2010 and 25% by 2015. With estimates of the JDZ's possible crude reserves ranging from 6 billion to 14 billion barrels, ERHC could eventually become an important supplier of crude to the U.S.
For that to happen, however, ERHC first needs the licensing round process to be concluded - which it has been hoping for since April 2003, when the JDZ's first-ever round was launched. ERHC needs the tender to be concluded, and blocks awarded, so that its preferential rights become concrete equity.
That should transform the fortunes of the company, whose rights are the legacy of a deal struck with Sao Tome in 1997.
ERHC is currently listed on NASDAQ's OTC Bulletin Board and has a market capitalization of $323.63 million. According to its last 10-k filing with the U.S. Securities and Exchange Commission, the company has no revenue and is over $9 million in debt to its parent company, Chrome Energy. ERHC chairman and owner of Chrome Energy, Nigerian Emeka Offor, controls 34.98% of ERHC according to the 10-k filing. Given the tiny stature of the company, it has often been seen as little more than a real-estate holding vehicle in the JDZ.
However, the company may even grab a JDZ operatorship; it has made joint bids with established U.S. companies Devon Energy Corp. (DVN) and Pioneer Natural Resources Co. (PXD) for Block 2 and Block 3 in the tender, and also with Noble Energy Inc. (NBL) in Block 4.
"When the awards...in the current JDZ bid round are finalized, it will be a significant step forward," ERHC Chief Executive Ali Memon told Dow Jones Newswires.
However, the conclusion of the licensing process has been continually delayed, leading to some disquiet among shareholders and keeping ERHC's stock price range-bound near the 50 cent mark.
"(We) are seeing some frustration in the lengthy process we've been through...and the slowness of awards has taken its toll," said Greg Sparks, another ERHC shareholder.
However, there is still a sizable core of investors that has stuck with the company. They've endured a painful waiting game, not least in 2001, when a dispute with Sao Tome meant that ERHC almost lost its JDZ rights altogether. Eventually, Offor, the company's new owner, was able to re-negotiate the contracts, thus keeping hold of the firm's only assets.
ERHC's patience may soon be rewarded. In October 2004, the Joint Development Authority, which governs the JDZ, closed the first licensing round, only awarding one block. It then re-offered five blocks in a month-long tender that closed Dec. 15, and these are expected to be awarded in January or February, although there may be further delays. ERHC has preferential rights of between 15% and 30% in all five blocks.
Edmund Daukoru, Energy Adviser to the Nigerian President, told the News Agency of Nigeria earlier this month that he believes the awards would be made by the end of January.
Some shareholders reckon that the completion of the licensing process could have a dramatic impact on the value of the company. "Once the awards are announced and our rights validated, we should see the share price multiplying," said Nugent.
Should ERHC's rights be validated through the block awards, the company's next move is unclear. Selling off its stakes to the highest bidder is one option, said Olly Owen, African analyst with U.S.-based economic consultancy Global Insight.
"Overall, the new crop of privately controlled domestic oil companies in Nigeria don't seem to be in the game for the long haul," Owen said.
"That's because slow-developing projects are seen as too high risk, due to the uncertain regional environment for investment. If making its outlay back appears too tortuous and tricky a process, ERHC will probably sell up," he added.
However, shareholders say that ERHC's joint bids for an operatorship in Blocks 2, 3 and 4 mean the company is in the oil game for good.
"I think that for ERHC, this isn't about making a quick buck," said shareholder Nugent. "It's about becoming a viable oil and gas entity, and about building on these holdings."
And ERHC is now looking a more believable prospect as an active petroleum company, says Antony Goldman, Africa Analyst with London-based consultancy Clearwater Research Services.
"ERHC has been trying to strengthen its oil credentials. It's been pretty smart at pulling in Noble and Pioneer as co-bidders, and it's also brought in Ali Memon, a genuine oil man, as president, which gives them more credibility," he said.
"Its position in this round looks far better than a year before, when it just appeared to be a real-estate vehicle. Now ERHC could expedite the extraction of oil in the JDZ," Goldman added.
Hurdles
However, the company must overcome some huge hurdles - namely its lack of revenue and debt load - before achieving those ambitions. But these hurdles shouldn't prevent the company from meeting its post-award obligations, shareholders say.
"It's not hard to structure a deal whereby a company's partners can carry it until first oil production," shareholder Nugent said. "I think that will happen with ERHC."
ERHC's Memon also indicated that such an avenue may be open. "It is our intention to form relationships with entities to maximize the value of our assets," he told Dow Jones Newswires. He added that the company "would be participating in each block according to our interest."
"We hope that a successful exploration program will ultimately result in oil production," he said, although he added the caveat that "there are technical and commercial risks associated with the exploration, development and production of hydrocarbons."
It's true that gaining equity and funding is only half the battle for ERHC.
(C) Copyright 2005 Odj
http://www.rigzone.com/news/article.asp?a_id=19905
sllabxam, Let me try to help you. Chrome is owned by Mr. Offor. ERHE major/controlling shareholders are Chrome & Mr. Offor. Chrome & Mr. Offor are one and the same, Mr. Offor is a person & Chrome is a company owned by Mr. Offor. I hope thats helps.
chcr
Hi idcc2005, I am able to delete any post that my fall under the IHUB handbook rules for deleting. Why do you ask?
chcr
For ignore, click open the post, click on the posters name than click on hide this poster. Best of luck to all of us.
UPSTREAM ERHC
00:15 GMT
THE first production sharing contract in the joint development zone managed by Nigeria and the island republic of Sao Tome & Principe was finally signed into force this week.
ChevronTexaco has operatorship of block 1 with a 51% stake, leaving ExxonMobil with 40% and Dangote Equity Energy Resources with 9%.
Energy Resources is a joint venture between the Dangote Group of Nigeria and Norway's Energy Equity Resources.
The block was awarded in April 2004 following ChevronTexaco's successful $123 million bid, and the PSC is expected to come into legal effect once remaining outstanding conditions have been met.
barry.morgan@upstreamonline.com
Last Trade: 2.25
Trade Time: 3:59PM ET
Change: 0.57 (33.93%)
Prev Close: 1.68
Open: 1.79
Bid: 2.25 x 500
Ask: 2.26 x 500
1y Target Est: N/A
Day's Range: 1.78 - 2.28
52wk Range: 0.419 - 2.8095
Volume: 2,017,475
Avg Vol (3m): 51,695
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
Last Trade: 1.68
Trade Time: 3:59PM ET
Change: 0.26 (18.31%)
Prev Close: 1.42
Open: 1.45
Bid: 1.66 x 500
Ask: 1.68 x 500
1y Target Est: N/A
Day's Range: 1.44 - 1.73
52wk Range: 0.419 - 2.8095
Volume: 973,922
Avg Vol (3m): 51,695
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
Last Trade: 1.42
Trade Time: 3:59PM ET
Change: 0.17 (13.60%)
Prev Close: 1.25
Open: 1.37
Bid: 1.42 x 500
Ask: 1.43 x 500
Day's Range: 1.30 - 1.45
52wk Range: 0.419 - 2.8095
Volume: 380,080
Avg Vol (3m): 51,695
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
1d 5d 3m 6m 1y 2y 5y
Weekend: On the Road to HDTV Paradise
Add GEEC.OB to Portfolio Set Alert Download Data
GLOBAL ENVIRONMTL EN (OTC BB:GEEC.OB)
Last Trade: 1.16
Trade Time: 3:59PM ET
Change: 0.15 (14.85%)
Prev Close: 1.01
Open: 1.04
Bid: 1.12 x 500
Ask: 1.16 x 500
Day's Range: 1.03 - 1.21
52wk Range: 0.419 - 2.8095
Volume: 635,208
Avg Vol (3m): 51,695
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
ERHC Wall Street News Alert: Hot Stocks for Aggressive Traders! January 19, 2005
Weston, FLA., Jan 19, 2005 (M2 PRESSWIRE via COMTEX) -- Wall Street News Alert`s "stocks to watch" this morning are: MSE EcoEngine Inc. (OTC: MSEE), Blue Coat Systems, Inc. (NASDAQ: BCSI), 3Com Corporation (NASDAQ: COMS), International Business Machines (NYSE: IBM) and Environmental Remediation (OTCBB: ERHC).
Aggressive investors and traders may be excited about the latest news from MSE EcoEngine Inc. (OTC: MSEE). Yesterday after the markets closed, the company issued a press release confirming that the MSE EcoEngine (the EcoEngine) may be used to replace infrastructure size electricity plants.
This could be great news for investors! According to the press release, "Applications for the EcoEngine are diverse and municipal electricity plants represent an attractive market for us" stated J. Gregory Gooch (President).
"We are some time away from being able to implement the EcoEngine technology on that scale, but it is on the horizon" said Mr. Gooch.
Investors watch this one! The `EcoEngine` is capable of generating power using the free heat in ambient air as its sole source of fuel and producing, as by-products, clean water and cool air. The engine will be used as an inexpensive and clean source of technology. To learn more about MSE EcoEngine visit mseecoengine.com.
In the US there is currently 830,000 megawatts of installed generating plants and this is increasing at a rate of over 2% per year while obsolescence is another 2.5%. Thus the total annual demand for new and replacement generating plants in the US is 35,000 to 40,000 megawatts. This represents huge market potential for MSE EcoEngine Inc. in this one market segment.
For more in-depth coverage of MSE EcoEngine, visit http://216.63.242.254/MSEE0118.htm
Prior to yesterday`s press release, the stock closed at Twenty One cents a share.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Blue Coat Systems, Inc. (NASDAQ: BCSI) up 13.6% on 1.2 million shares traded, 3Com Corporation (NASDAQ: COMS) down 0.8% on 9.6 million shares traded, International Business Machines (NYSE: IBM) up 0.8% on 8.2 million shares traded and Environmental Remediation (OTCBB: ERHC) up 17% on 2.1 million shares traded.
Commentary: "In a report from the Commerce Department, revised figures for December retail sales are now showing that the sector had a rise of 8.7% in sales from the previous year. Previous figures had showed a more mixed result, but now it appears that the holiday spending was much better that previously reported, that being overall at around 3.5%," Stated Sonja Rudd in Wall Street News Alert` s daily commentary continued at: http://www.WallStreetNewsAlert.com.
Let Wall Street News Alert help advertise for your company using our effective awareness campaigns. If you're Interested in telling your story, we can help.
Contact us at info@wallstreetnewsalert.com
WSNA's email alert service is free to those investors who sign up on the WSNA home page. The alert service is designed to notify investors of undervalued and often overlooked stocks. Subscribers are introduced to Special Situation companies that have the potential of showing increased activity. The Wall Street News Alert home page has experienced over 40 million hits. To subscribe to this free service, visit the Wall Street News Alert home page at http://www.wallstreetnewsalert.com and select the "join now" button.
*** Wall Street News Alert is not affiliated with faxes bearing names such as: Wall Street Stock Alert, Wall Street Investor Alert, Wall Street News Alert or any other fax using various combinations of the generic words Wall Street! If you receive any such fax, please do not contact us at www.wallstreetnewsalert.com. You may wish to inquire about the fax, with the CEO of the company that the fax is written about ***
Wall Street News Alert is a division of Wall Street Capital Funding LLC (WSCF).
WSCF is not a registered broker/dealer and may not sell, offer to sell or offer to buy any security. WSCF profiles are not a solicitation or recommendation to buy, sell or hold securities. An offer to buy or sell can be made only with accompanying disclosure documents from the company offering or selling securities and only in the states and provinces for which they are approved.
The material in this release is intended to be strictly informational. The companies that are discussed in this release have not approved the statements made in this release nor approved the timing of this release. All statements and expressions are the sole opinion of WSCF and are subject to change without notice. Information in this release is derived from a variety of sources including that company's publicly disseminated information, third parties and WSCF research. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. WSCF disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. The release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies' discussed in this release is highly speculative and carries a high degree of risk. WSCF is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase in WSCF profiled stocks.
This profile is not without bias, and is a paid release. WSCF has been compensated for dissemination of company information on behalf of one or more of the companies mentioned in this release. (WSCF has been compensated Twenty Thousand Dollars for coverage of MSE EcoEngine Inc. (OTC: MSEE), by a third party (Segue Consulting Inc), who is non-affiliated and may hold a significant position in the stock, for services provided including dissemination of company information in this release. WSCF holds no shares of the stock. WSCF may receive shares for extension of its services. Any shares will be disclosed at such time that WSCF is aware of a clients desire to extend the original services. WSCF may have received shares of a company profiled in this release prior to the dissemination of the information in this release. WSCF may immediately sell some or any shares in a profiled company held by WSCF and may have previously sold shares in a profiled company held by WSCF. WSCF`s services for a company may cause the company`s stock price to increase, in which event WSCF would make a profit when it sells its stock in a company. In addition, WSCF`s selling of a company`s stock may have a negative effect on the market price of the stock. Market commentary provided by Sonja Rudd. Sonja Rudd does not accept stock as compensation from any of the companies mentioned in this release.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and WSCF undertakes no obligation to update such statements.
CONTACT: Wall Street News Alert e-mail: info@wallstreetnewsalert.com WWW: http://www.wallstreetnewsalert.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
(C)1994-2005 M2 COMMUNICATIONS LTD
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2005%5C01%5C19...
GEEC Last Trade: 1.01
Trade Time: 3:59PM ET
Change: 0.21 (26.25%)
Prev Close: 0.80
Open: 0.80
Bid: 0.92 x 2500
Ask: 1.01 x 500
Day's Range: 0.80 - 1.01
52wk Range: 0.419 - 2.8095
Volume: 288,651
Avg Vol (3m): 51,695
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
Press Release Source: Global Environmental Energy Corp.
Global Environmental Energy Corp. Subsidiary, Biosphere Development Corp., Signs Letter of Intent with Municipality of Silistra for the Purchase of $8,600,000 Biosphere System
Wednesday January 12, 10:04 am ET
NASSAU, Bahamas--(BUSINESS WIRE)--Jan. 12, 2005--Global Environmental Energy Corp. (OTCBB:GEEC - News; FWB:LFT) today announced that it has filed an 8K with the securities and Exchange Commission on 30 December 2004 confirming that Biosphere Development Corp. has signed and exchanged a Letter of Intent with the Municipality of Silistra, Bulgaria.
On December 21, 2004, Biosphere Development Corp. and the Municipality of Silistra signed a Confidentiality Agreement and Letter of Intent for the establishment of a Joint Venture Company. The intended Joint Venture Company will to employ Biosphere(TM) Process technology to process municipal solid waste while producing electricity and potable water. It is intended that this new joint venture company will purchase a Biosphere(TM) Process System and a water bottling plant from Biosphere Development Corp. for approximately USD$8,600,000 with sufficient capacity to process 70,000 tonnes of municipal solid waste per annum, producing approximately 43,500 MWH of electricity and 43,500,000 litres of bottled potable water per annum.
About the Municipality of Silistra
Foreign direct investment (FDI) inflow in Bulgaria for 2004 amounted to 2,020 million euros, whilst domestic investment has increased by 1,813 million euros for January-September 2004 (www.countrywatch.com). Such investments are rapidly expanding the Bulgarian economy. In January through September 2004, Bulgarian GDP is estimated to have increased by 5.7% (www.countrywatch.com) as compared to an increase of only 4.8% in the 12 months of 2002. Bulgaria is a country of 7.8 million people (www.cia.gov). Bulgaria, like Croatia, Romania and Turkey are candidate countries for entry to the European Union. Bulgaria is scheduled to become a member of the European Community on January 1, 2007. The European Union currently has 25 member states. In advance of its accession to the European Union, Bulgaria, in common with other countries joining, is experiencing an explosion in economic growth.
In 2001 Bulgaria consumed 32.52 billion kWh of electricity with an average value of approximately USD$60 per MWH (www.indexmundi.com). A report by Zenith International in January 2004 (www.zenithinternational.com) identified the East Europe Bottled Water market as a thirst unquenched. According to the Bulgarian Soft Drinks Association, consumption of soft drinks in Bulgaria has increased by 13 million litres during the first quarter of 2004 in comparison with the same period in 2003 with an average value of approximately USD$0.25 per litre (www.novinite.com). According to the Bulgarian Soft Drinks Association (www.bia-bg.com), bottled water enjoyed greatest interest and is one of the best scorers together with fruit juices. Bulgarian brands continue to dominate the segment making up 90% of the sales.
About Biosphere Development Corp.
Biosphere Development Corp is a subsidiary of Global Environmental Energy Corp. Global Environmental Energy Corp intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Biosphere Development Corp's unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids, and many other traditional and non-traditional waste materials.
It is the intention of Global Environmental Energy Corp that Biosphere Development Corp will become a fully reporting and trading company in the future if accepted by the SEC and the NASD for trading. Global Environmental Energy Corp maintains a web site at http://www.globalenvironmentalenergy.com/index.htm.
Note to Investors
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Global Environmental Energy Corp. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
Global Environmental Energy Corp. assumes no obligation to update the information contained in this press release. Global Environmental Energy Corp.'s future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. GEEC's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-QSBs and its Annual Report on Form 10-KSB.
----------------------------------------------------------------
Contact:
Global Environmental Energy Corp.
Dr. C. A. McCormack, 877-723-6315
www.globalenvironmnetnalenergy.com
ERHC: Pxy Vote; Name Change; Stk Optn Plan Approval [delayed]
Ridgeland, MS, JAN 18, 2005 (EventX/Knobias.com via COMTEX) --
The Special Meeting of Shareholders of Environmental Remediation Holding Corporation (OTCBB: ERHC) will be held at 3 Riverway, Conference Center, Houston, Texas 77056, at 3:00 p.m. February 4, 2005, for the following purposes:
1. Approval of the amendment to the Articles of Incorporation, changing the Company's name to ERHC Energy Inc.
2. Approval of its 2004 Compensatory Stock Option Plan.
The close of business on December 7, 2004 has been fixed as the record date for the determination of shareholders entitled to notice of, and to vote at, the Special Meeting.
DEF 14A
GET KNOBIAS IN REAL-TIME: Delivery of this proprietary Knobias alert has been delayed by at least 10 minutes. To get all Knobias alerts in real-time daily, visit http://www.knobias.com/cmtx
ABOUT KNOBIAS: Knobias is a premier financial information provider of trading and investing data covering all U.S. equities for investors and security professionals. Knobias is best described by its three major components: Real-time desktop applications providing quotes, charts, level 2, analysis etc.; Knobias RAiDAR providing thousands of real-time news stories, alerts and documents daily; Knobias fundamentals providing a comprehensive database of fundamental research information.
Knobias.com, LLC
601-978-3399
601-978-3675
GEEC Homerun Stock of the Year!
Breaking News
Breakout Alert!
Any worldwide waste-to-energy Company directed by powerful political leaders, displaying continuous contracts, exponential growth, with $2 Billion of financing available, and multiple stock dividends is a launching pad for incredible profits.
Home
Major Events
Recent Filings
Signup Now
Disclaimer
GEEC is thriving as an emerging world leader in the conversion of waste materials into electrical energy by utilizing their Biosphere Process System, making them the hottest undervalued stock at this price level where shares are ready to explode on huge investor attention.
The Power of Politics
The influence of GEEC Chairman, former Prime Minister of Ireland Dr. Albert Reynolds, has secured a $2 Billion line of credit for GEEC and opened doors in over a dozen countries.
The unique proprietary technology of the Biosphere fills an urgent worldwide need for cost-effective renewable energy sources and a corresponding universal need to solve critical problems in the disposal of waste. The Biosphere System provides the highest level of innovative technology while securing worldwide acceptance for a revolutionary product designed to significantly impact the global waste problem while simultaneously generating electricity.
The Biosphere System enables GEEC to draw revenue from the disposal of various types of waste at 5 to 7 tons per hour including such materials as:
Municipal Solid Waste
Refinery wastes
Agricultural surpluses or effluents
Medical waste
Industrial waste
Shale oil
Sour natural gas
The huge market of used tires...
are all converted in the Biosphere Process.
GEEC also profits from the sale of electricity created from the waste conversion on a continuous basis by generating 5 to10 mega-watts per hour of electricity which is then sold to replenish the local or national grid.
GEEC: Solving a Worldwide Crisis - Waste and Energy!
Environmental Problems of the 21st Century
Over-crowded Landfills
Worldwide Waste Disposal
Electrical Shortages
Solution?
The Biosphere Process succeeds in fulfilling an urgent worldwide need for cost-effective renewable energy sources and a corresponding universal need to solve critical problems in the disposal of waste. GEEC has secured international acceptance for a revolutionary product designed to significantly impact the global waste problem while a major push for generating electricity from alternative sources continues to be the hot topic due to shortages and massive power failures.
Purchase Orders for the Biosphere have rocketed beyond all estimates for GEEC with no signs of slowing. The numbers continue to stack-up as the backlog of orders for the Biosphere exceeds $100 Million over the past year while the stock price doesn't yet reflect the appearance of these impressive figures on an upcoming balance sheet. We are not the first to uncover this phenomenon as the stock is under accumulation, but we are acting aggressively on this recently filed data.
Investors are recognizing GEEC as the most Undervalued Stock on the OTCBB
GEEC has experienced a recent spike in price and volume indicating heavy accumulation of shares which is a sign of even bigger things to come for this emerging world leader in the conversion of waste materials into electrical energy, an industry with such high global demand that it is impossible to assign a value to the size of the market.
Any worldwide waste-to-energy Company directed by powerful political leaders, displaying continuous contracts, exponential growth, with $2 Billion of financing available, and multiple stock dividends is a launching pad for incredible profits.
GEEC has a very small float and a total market value which is less than half of their available cash based on receiving $51 Million as indicated as a “Subsequent Event” in their latest Quarterly Report.
Additionally, GEEC has the impressive backlog of sales already in the pipeline which is the catalyst needed to achieve record-setting stock price levels in support of the Company's breakout year. The added kicker is that GEEC has historically released "batches" of very significant news announcements regarding successfully completed sales contracts early in the calendar year. We feel that pattern is repeating itself as evidenced by what has recently been released with some very big surprises still to come. There aren't any companies at any price level with the technology or exponential sales growth to match GEEC which will enable the stock to move very quickly as the value of their contracts are revealed.
Broker
Quick-Links
Copyright 2005 StockAlert2005.com
http://www.stockalert2005.com/
ERHC Investors: Read about an Oil Industry hidden gem trading at $ .50 per share with Joint Ownership of Offshore Billion Barrel Oil Blocks with ExxonMobil and Joint Venture Agreements with Major NYSE Oil Leaders!
Environmental Remediation Holding Corp. (OTCBB: ERHC)
Trading at: $ .50
3-Month Target: $2.50
--------------------------------------------------------------
ERHC: Rated an “Urgent Buy” for aggressive investors who must act quickly to accumulate a substantial position just before earth-shattering news is released that
will send shockwaves through ERHC!
.....http://www.otchotstock.com/
ERHC OTC Hot stock news....
http://www.otchotstock.com/
ERHC New Upstream Article
Sao Tome delays drill chase
11:23 GMT
The signing of the first deal allowing US oil companies to explore for crude oil off the shores of Sao Tome has been postponed again but is expected to take place soon, the country's Energy Minister said today.
The minister said the consortium of oil companies, including ChevronTexaco and ExxonMobil, had asked for a few more days to examine a paragraph recently inserted in the draft agreement to guarantee the transparency of oil revenues.
The signing of the deal - the first to explore areas with total oil reserves of at least 4 billion barrels thought to lie off the west and central African coast - had been expected by the end of 2004 but was postponed a first time to 10 January.
The agreement covers block 1, located in a joint development zone that Nigeria and the tiny archipelago of Sao Tome have agreed to share, while the winning bidders for five additional exploration blocks are expected to be identified this month.
"The two governments (Sao Tome and Nigeria) have decided to insert a paragraph in the draft contract which refers to transparency and good governance," Energy Minister Arlindo Carvalho told Reuters.
He said the accord may now be signed next week.
Hi balance_builder, You have been so helpful that you have been appointed to Asst. Director. The pay is not good but we would love to have you help us with this board. Gigwoof is very busy and I have been to so I hope you except. Thanks again.
chcr
Director
ERHC post for RB By: stockhocker70
10 Jan 2005, 11:54 AM EST
Msg. 89885
This msg. is a reply to 89877 by monkeytrots.)
FWIW, I just called ERHC and confired that the sh meeting is on for 2.4.05, as planned. The convention facility is next door to the Omni. Below is an update on the attendee list. Please let me know if I have missed anyone...
You are cordially invited to attend the Special Meeting of Shareholders of Environmental Remediation Holding Corporation (the “Company”), which will be held at 3:00 p.m. on February 4, 2005 at 3 Riverway, Conference Center, Houston, Texas 77056.
http://www.pinksheets
.
com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D04%252D022440%252Etxt%26filepath%3D%255C2004%255C12%255C22%255C&symbol=ERHC
Updated shareholder meeting attendee list:
Longs
Stockhocker
TiburonTim
Bobwill 9 - maybe
Manti - may drive over
vip1999v2 - if babysitter available
Yemenoil - good till happy hour starts
Joe Shea - as himself
cleve11111
mabenn1
heater41
hdotmycom - conditional on awards
oshbgosh1 - conditional on awards
swinging---k
Wx_Gssr - play it by ear
dadd17
THETUNEMAN - from the bar
doctorbay
rockcreation
kahonajoe
pops6x
stocks2rise
highlife40
magicatlast - depending on medical and awards
ibesly - pending court settlements
ctoil
nwtf - tentatively plans to be there
Bashers
Jouster and Hijo - as Joe Shea (subject to removal from this list if good behavior continues)
Mongo - declined Racho's offer for a free airline ticket
Via Proxy
Platina
King3939
balance_builder
dcre1
dougquaid
hopeful_investor
Missed Ownership Date
StephandKim
Questionable
Redinvestor - declined to answer question as to whether he will attend
Information about the Special Meeting, including matters on which shareholders will act, may be found in the Notice of Special Meeting and Proxy Statement accompanying this letter. We look forward to greeting in person as many of our shareholders as possible.
The Board of Directors of the Company has determined that (i) amending the Company’s Articles of Incorporation to change the name from Environmental Remediation Holding Corporation to ERHC Energy Inc., and (ii) adopting the 2004 Compensatory Stock Option Plan are advisable and in the best interest of the Company and its shareholders. We believe that the name change more closely identifies the Company’s corporate business strategy. Further, we have established the 2004 Compensatory Stock Option Plan to provide those persons who have substantial responsibility for the management and growth of the Company with additional incentives and opportunity to obtain or increase their proprietary interest in the Company, thereby encouraging them to continue in the employ of the Company. The Board of Directors recommends you to approve the amendment to the Articles of Incorporation, changing the name, and the adoption of the 2004 Compensatory Stock Option Plan adopted and approved by the Board of Directors. As a shareholder, you cast one vote for each share you own.
It is important that your shares be represented and voted at the meeting. Whether or not you plan to attend the Special Meeting, please complete, sign, date, and promptly return the accompanying proxy in the enclosed envelope. Returning the proxy does NOT deprive you of your right to attend the Special Meeting. If you decide to attend the Special Meeting and wish to change your proxy vote, you may do so automatically by voting in person at the meeting.
Sincerely yours,
/s/ Sir Emeka Offor
Chairman
Sir Emeka Offor
ERHC posted on RB By: oiljunior2
09 Jan 2005, 09:06 PM EST
Msg. 89790
TIRED OF ALL THE NAKED SHORTING??
(From EF Board)
After the week we just witnessed, it has become clear that there is a valiant attempt to drive these markets lower this week. Perhaps it is SHO related to get prices as low as possible so the hedge funds that are rampantly naked shorting can get covered at ridiculously low prices compared to their recent levels.
Of course, the shorts are arguing that some of these stocks have had incredible runs...and they MUST be shorted and they MUST come down. Well my friends, that is total garbage. They didn't go straight up. Many have had great runs, with perfect confirmations along the way. There is no need for these stocks to come straight down.
It really is ridiculous that shorting even exists. All the
impropriety that exists in these markets, and I mean ALL of it
revolves around shorting, and the misuse of it. People have said that it takes a buy for every sell. Well, that is garbage also. It takes a buy to overcome fake shares that don't exist plus the actual shares of someone who is really selling. So, it basically takes twice as many shares for a stock to go up as it does for it to go down.
Now, I spoke with Ameritrade at length today. I wanted to clarify the general rules as far as shorting shares. I didn't discuss the actual shorting of stocks. I wanted to know the EXACT specifics regarding the rampant "naked shorting" of the stocks we own. Here is what they told me:
When you purchase a stock, and your account has a debit balance, all stocks in your account go into a pool of available shares that can be shorted. In other words, any shares that are bought on margin, can also be borrowed against to short a stock.
Therefore, as Ameritrade maintains, irregardless of the number of shares you own over your margin balance, your entire share amount can be shorted against. Ameritrade doesn't create or maintain a market, they only balance the market of those customers they do business with. It makes no difference how many shares are "authorized" by the company for shorting. So, many times when you see the float of a stock trading, it isn't even close because lot of those shares are short shares that don't even exist.
So, this means that all this stuff you may have been reading about setting your limit sells at ridiculous levels or requesting delivery of your share certificates isn't as important as what I'm about to tell you. What makes a naked short...and other shorts start to cover is when obviously the price goes higher, or when they get called to cover their shares immediately.
When a large amount of people reduce the balance in their account, so that their balance is a CREDIT balance...meaning you have no margin balance...then it creates an immediate deficit in the number of shares that can be held short. The shorts get an immediate call to cover. Market makers have to cover to eliminate the deficit, or as the new Regulation SHO professes, they will face being listed, fined, and risk losing their license for maintaining short deficits in stocks.
This makes perfect sense in a number of respects. When a market is euphoric, buyers create large margin balances that create excessive shares available for shorting. When the buyers dry up, alot of those shares are still available to short. That is why we can have excessive downdrafts in a market that has had a huge rally rise.
It also explains why a stock that many people are holding alot of shares of that has had a big run will come under so much pressure. Everyone is buying more on margin to average down, and that creates more shares available to short. Sellers and fresh short shares keep continual pressure on the stock.
How many times have you seen a stock have a great run, then it comes tumbling down without the breath of holding an uptick? Finally, everyone gives up and tosses in the towel. Well, when that happens, everybody's account is no longer carrying a margin balance and the short shares start getting called to cover. All of a sudden, the stock starts walking back up with out any interference whatsoever. That is the shorts covering on the shares they shorted against those you bought on margin. They are getting a call to cover immediately.
So, here is the plan. You need to consider doing whatever you can to effect a short squeeze on the stocks you own the most shares of that have had a sizable downdraft of late. If alot of people can immediately get rid of all the crap in their account that isn't performing, or take a couple winners off for profit, then that can reduce your DEBIT balance in your account so you have NO MARGIN BALANCE. Do whatever you can to get your account with no margin balance so you are playing with ONLY the cash in your account.
Once you do this, make an immediate call to Ameritrade, or whoever your broker is, that you are requesting the shares of your holdings not be made available for shorting. Have them confirm it in writing that they have done so, and also request that the shares that were lent out on your positions be immediately called to cover.
Put your broker in the hot seat. Make them earn their commissions. Don't hang up with them until they guarantee you in some fashion that your shares are going to be called to cover.
As an example, let's say you own 5 stocks and your largest position is 10000 shares. Your account balance is 200,000 and your carrying 250,000 worth of stock. If you can pare off just one, or a little of all of them to get your balance under 200,000, then you immediately effect a call on all the other shares you own that are being held short by someone else.
Now, here is your job. Take the information I've given you, and hit all the message boards with this information this weekend.
Tell everyone to spread the word....to get back just under their cash level and then call their broker! It should be enough to cause some panic short covering and get some of these MMs to cover their deficiencies now that they are being watched by everybody.
If it pops up on several hundred message boards over the weekend by several hundred people, it could spread like wildfire, reverse these markets next week, and everyone will be back where they should be...and the shorts will be back to losing money once again.
Please, everyone try. All it costs you is a few minutes of your time to try.
Thank you so much Steve, Great find and you are right. Monday will be very interesting. GO ERHC!
Hi Gifwoof, I have been to blog joined and replyed. I follow many ERHC sites. I am hoping VERY soon we long will be very very happy.
UPSTREAM ERHC NEWS
Nigeria and Sao Tome targeting 10 January as date for signatures
JDAgets set to sign over block-1 PSC
00:15 GMT
OFFICIALS of the Joint Development Authority set up by Nigeria and Sao Tome & Principe to manage exploitation of the Joint Development Zone in the deep-water Gulf of Guinea are hinting the delayed PSC for block-1 will be signed on 10 January.
Both governments are also hoping to reveal the winners of at least two more blocks next week.
Blocks 2, 3, 4, 5 & 6 were put up for grabs in the JDZ-II Round with JDA officials insisting that sums bid would be no more important than technical competence and work programmes submitted.
Substantial progress has yet to be made by ExxonMobil in farming out its 25% priority stake in two of these blocks, although contact has been made with both Devon Energy and Pioneer Natural Resources for this purpose. US minnow ERHC Energy, Pioneer and Devon Energy are seeking to secure joint operatorship in blocks-2 & 3, although several consortia bid higher, and the same line-up is tipped to secure block-3 where competition was more muted.
Meanwhile, the struggle over block-4 is heating up with Anadarko Petroleum insisting its $90 million bid would be paid upfront and not staggered. Its main contender is Noble, in partnership with ERHC, which is bidding just $60 million.
It is believed Anadarko's bid proposes a commitment to one well in three years as against Noble's three wells in one year, and the JDA must now decide which is more tempting.
Equator Exploration and its Indian partner ONGC Videsh also bid blocks-2 & 4 and would likely compete with Nigerian independents for a junior equity stake.
Little discussion of blocks 5 & 6 emerged over the holiday period, raising the spectre of both being held over once again for a third round later in the year.
Several companies involved in bidding acreage in the second round were not included in the JDA's initial anouncement last month. Among these were the UK's Wood Group, Mitsui, Sojitz, IMT, DNO and several indies with international connections such as Arcadia, Denham and Broadlink.
barry.morgan@upstreamonline.com
ERHC's `Going Concern' Qualification is Removed
Thursday December 30, 9:15 am ET
HOUSTON--(BUSINESS WIRE)--Dec. 30, 2004--Environmental Remediation Holding Corporation ("ERHC" or the "Company") (OTCBB:ERHC - News) announced today that it has filed its Annual Report on Form 10-K for its fiscal year ended Sept. 30, 2004. The following is a summary of several key items contained in the Company's Annual Report:
The Company has reached agreement with Chrome to restructure all of its convertible debt, and Chrome has agreed to provide a new $2,500,000 line of credit. The Company expects to utilize this line of credit to continue to develop and promote its interests offshore West Africa. Additionally, the availability of future working capital has allowed the Company to remove the "Going Concern" qualification from the audit opinion.
In August 2004, the Company entered into a Participation Agreement with Pioneer Natural Resources whereby the companies will jointly apply for rights in the production sharing contract for Block 2 of the Joint Development Zone ("JDZ").
In September 2004, the Company entered into a Participation Agreement with Noble Energy International, Ltd., a subsidiary of Noble Energy Inc., whereby the companies will jointly apply for rights in the production sharing contract for Block 4 of the JDZ. In December 2004, the Company entered into a Participation Agreement with Pioneer Natural Resources whereby the companies will jointly apply for rights in the production sharing contract for Block 3 of the JDZ. On Dec. 15, 2004 ERHC and its co-ventures submitted bids on Blocks 2, 3 and 4 in the JDZ. The Company terminated the management services agreement with Chrome Oil Services effective Dec. 31, 2004. As of Jan. 1, 2005, the Company will assume direct responsibility for costs and expenses of its officers and staff, and the lease obligation of its office space. During the year ended Sept. 30, 2004, the Company incurred a net loss of $3,593,388, compared to a net loss of $3,153,882 for the year ended Sept. 30, 2003. A significant portion of the increase in net loss for the year ended Sept. 30, 2004 was attributable to a $463,000 increase in interest expense. A copy of the complete Annual Report on Form 10-K is available on the Company's Web site (www.erhc.com).
The statements in this document are forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements and the business prospects of ERHC are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties are described on Forms 10-Q and 10-K filed with the Securities and Exchange Commission.
----------------------------------------------------------------
Contact:
ERHC, Houston
John Coleman, 713-626-4700
----------------------------------------------------------------
Source: Environmental Remediation Holding Corporation
ERHC Upsteam News
Sao Tome and Nigeria aim for awards by end of December
Skies clear over JDZ licence round
00:12 GMT
EFFORTS by Nigeria and Sao Tome & Principe to license the Joint
Development Zone in the Gulf of Guinea took another step forward last week when bids for five blocks offered in the second round were opened in Abuja.
The Joint Development Authority aims to make awards by 31 December since both countries want to press on with licensing rounds in their respective Exclusive Economic Zones.
New faces included several Nigerian independents absent from the
first round and a handful of international companies, some returning to the fray in an alternative guise. For example, Ophir Energy constitutes the management line-up that jumped ship after the Sterling Energy takeover of Fusion Oil & Gas two years ago.
Chinese explorers and India's ONGC Videsh (OVL) and Reliance
Industries jockeyed for a winning alliance, but in the end only OVL came through. It is understood Reliance had not completed necessary documentation to bid despite having undertaken separate talks with both Equator Exploration and Environmental Remediation Holdings Corporation (ERHC).
Mid-tier US indies Pioneer Natural Resources, Devon Energy and Noble Energy bid confidently on the basis of their partnership with US-registered ERHC, which retains preferential rights in blocks of their choice. Consequently their bids came in lower than indies with modest E&P experience.
Anadarko Petroleum also showed its commitment, bidding high on blocks 3 and 4.
However, special adviser to President Olusegun Obasanjo on Petroleum and Energy Affairs Edmund Daukoru said technical competence and local content commitment would be as important as the signature bonus during evaluation. Other factors may also come into play.
Norway-based Energy Equity Resources owned by Aliko Dangote, credited with bankrolling Obasanjo's political campaign, has already won 9% of block-1 and has bid again strongly for blocks 3 and 4.
Atlas and Conoil are established upstream players in Nigerian waters and Conoil has even acquired deep-water experience, although the presidency is unlikely to grant them more than 10% of any block as it has legislated against indies holding more than this in the EEZ. However, Atlas' owner Prince Arthur Eze already has upstream acreage positions across West Africa and may be chosen as a credible flagbearer for Nigerian expertise.
Then, if JDA officials want a truly pan-African flavour added to the mix, they may grant Ophir's bid for a slice of block 3. Ophir manages South Africa's Black Empowerment combine Mvelaphanda's interest in Forest Oil's Ibubhesi gas field and Mvelaphanda is owned by Tokyo Sexwale, the senior ANC official
barry.morgan@u...
Global Environmental Energy Corp. -- OTCBB:GEEC -- Forms Sahara Petroleum Exportation Corp. and Agrees to Pay Dividend to Global Shareholders
December 17, 2004 10:52:00 AM ET
Global Environmental Energy Corp. GEEC (FWB:LFT) has caused as of December 16, 2004, the formation of a wholly-owned subsidiary, Sahara Petroleum Exploration Corp., located in New Providence in the Commonwealth of Bahamas.
Global Environmental Energy Corp. intends to issue the stock dividend as of the record date "ONLY" to shareholders that own not less than 100 shares of Global Environmental Energy Corp.; 3 new shares of Sahara Petroleum Exploration Corp. will be issued for each 100 shares of Global Environmental Energy Corp. owned on the record date. By way of example, the owner of 100 shares of Global Environmental Energy Corp. will receive 3 shares of Sahara Petroleum Exploration Corp. as a dividend; the owner of 199 shares of Global Environmental Energy Corp. will receive 3 shares of Biosphere Development Corp. as a dividend.
The record date will be January 15, 2004, with delivery on or about January 30, 2005. In order to receive the stock dividend, a stockholder of record on the record date must continue to hold GEEC stock through the dividend payment date of January 30, 2005.
As GLOBAL continues to expand, the value of the Company's assets will be developed more efficiently through operating subsidiary companies. Sahara was formed to maximize the Company's potential as a fully integrated energy company, but especially to develop the Company's potential in Libya and Algeria.
As part of this overall strategy, GLOBAL intends to cause Sahara to become a fully reporting trading company in its own right, and will be filing all required paper work with the SEC and NASD.
About Global Environmental Energy Corp.
Global Environmental Energy Corp. intends to become a fully integrated energy company whose interests will include traditional oil and gas and alternative energy sources, environmental infrastructure and electrical micro-power generation. Global Environmental Energy Corp.'s unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids, and many other traditional and non-traditional waste materials.
Note to Investors
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Global Environmental Energy Corp. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
Global Environmental Energy Corp. assumes no obligation to update the information contained in this press release. Global Environmental Energy Corp.'s future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. GEEC's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-QSBs and its Annual Report on Form 10-KSB.
Contact Information: Global Environmental Energy Corp. Dr. C. A. McCormack, 877-723-6315 www.globalenvironmnetnalenergy.com
© 2004 BusinessWire
Just a thought. A law suit has just been settled between Mr. Offer and some bank, XOM not using thier rights in the JDZ. Hum! Could it be possible the ERHC may be in the position to be bought out by XOM? Any thoughts from the board? If this should happen the amount should or could be around $7.00 per share be my calculations. But I would like $10.00 much better...
Press Release Source: ERHC
ERHC Participates in JDZ Bid Round
Thursday December 16, 9:44 am ET
HOUSTON--(BUSINESS WIRE)--Dec. 16, 2004--Environmental Remediation Holding Corporation (ERHC) (OTCBB:ERHC - News) announced today that it participated in the recent bid round for blocks in the Nigeria/Democratic Republic of Sao Tome and Principe Joint Development Zone ("JDZ") in the Gulf of Guinea, offshore West Africa.
Bids were submitted in the following blocks:
Block 2 Devon(Ocean Energy Ltd.)/Pioneer/ERHC
Block 3 Devon(Ocean Energy Ltd.)/Pioneer/ERHC
Block 4 Noble/ERHC
The statements in this document are forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements and the business prospects of ERHC are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties are described on Forms 10-Q and 10-K filed with the Securities and Exchange Commission.
----------------------------------------------------------------
Contact:
ERHC, Houston
John Coleman, 713-626-4700
----------------------------------------------------------------
Source: ERHC
Hello Ten2Ten, I think now is the time to load up. I think that by the end on January it could be up to $2.00. This is only what I think but I sure hope I am right. Best of luck to all of us. Go ERHC and thank you Mr. Offer. He is sure trying for the 70% of the JDZ.