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I'm gonna go way out on a limb here and say that Dan probably didn't post it because he wanted to finish his cup of morning coffee before the 2 million e-mails from our board members started flowing in, you know, the ones that complain about the size of paragraghs, order of events being listed, the run-on sentence that was out of place, and the adjective that was used where the adverb was more appropriate.
Not that I am a coffee drinker, cuz I'm not, but I can't says I blame the guy for wanting to start the day with a full cup of coffee.
He's probably ready now for the onslaught! Let him have it!!!
Hooray!!!!!
The long awaited press release that will get us to $1.25 today!!!!!!!
That should calm the troops.
Pretty simple really? Apparently WAY too complicated for the I-need-to-feel-good-now people whining on these boards.
We are weeks away from a potential life-changing event and the whining keeps getting stronger!!! I'd say it is amazing, but .........
One GIGANTIC dose of Valium is needed around here.
Trust the drilling results or sell. Those are the options.
I never said we would be sold at a discount, nor do I believe it would happen.
Just reminding others of the way dots have been connected in the past, and how close those predictions were.
Unfortunately Claude, there are some on the boards that don't always feel that way. If I recall correctly, last year prior to the annual shareholder meeting there was quite a bunch of dots being connected in the belief of the company being taken out from under the shareholders with little we could do about it, and nowhere near fair value to the company.
With the likelihood of another shareholder meeting later in the year, I wonder if the dot connectors will again play the emotion of the stockholders by trying to scare us into believing the company will be sold at a huge discount.
It won't shock me.
Hey Strass - your post also proves the value of PRs with respect to increasing share price for this company.
We had a ton of PRs written about the block awards and the deals made for those blocks, the cash acquired by ERHE and the future blocks of the EEZ. In each case, we got a short term rise in share price and then the settling back of the share price.
More proof that PRs are not what drives the ultimate share price of the company, it is the tangible assets of the company. For us, it is OIL.
I'm staying focused on the OIL.
We have plenty of preferred shares, and in the unlikely event we choose take the growth path as a company, those preferred shares would figure to become in play, and that wouldn't be good for the common holder.
Preferred are higher in the pecking order with more power (usually), and are frequently tied to common shares with options (more dilution to us). You really don't want to go there right now..........
Preferred shares are one of my biggest concerns with this company, as I have stated many times in the past.
Yes.
This could just as easily be a large holder dumping to get the price down too.
300,000 shares isn't a lot when the price was under $.20 for a long time.
The key is the volume. Nothing to panic about with this skimpy volume. Yes, we lost some portfolio value, but the volume indicates nothing wrong with the company.
If there had been 3 million shares in buy orders between $.75 and $.85 this wouldn't have happened. No buyers = easy selldown.
I guess the BM from last night didn't attract any buyers. Imagine that.
My guess is we hold above $.70 or very quickly return to it if we go under.
From there, we should settle and slowly work our way back up as those longs (who never sold a share in their life) return.
And thanks ExCEO for the rsponse to my post. I feel your pain!!! I just choose to focus somewhere else with the stock.
Best to you and yours also. May we all prosper with this investment.
OUCH!!! That's almost mean, hoss.
We have a scoop if he doesn't have those shares now.
I'm not sure what would be gained from any press release anyway. What Barry wrote last night is as much as any press release could or would say. At best, we would get a small price increase, followed by a slow bleed back to where we started, similar to what we are seeing right now.
A press release isn't our saving grace. OIL is. OIL. I really do understand the need to see our company promoted and the stock price increase more often than decrease. But years ago I realized that ERHE wasn't about self promotion, and if those were the qualities I needed in a company then ERHE was the wrong investment for me. I made a decision to GET OVER IT and let the OIL do the talking for the company. Everything else just presents a better buying price if I want more shares.
I'm in this to see the drilling results, not to see how many press releases can move us up $.05 only to fall back down 2 days later. The ultimate value of this company comes from OIL that is found. If ERHE doesn't want to talk about the OIL found, then I have a major problem with the company too!! Until then, swimming upstream (waiting daily for a press release touting our company) is too much work for me, and I have no control - despite the belief of some here who say to pester the company - over it anyway.
Funny thing for those that remember the weekly drivel from BM years ago: I would buy stock on Wednesday and sell it Friday most every week. BM was almost always good for a couple pennies of swing!!! Made a BUNCH of free shares doing that - thank you Barry Morgan. But eventually he lost credibility because he became nothing more than an ERHE hype machine, with inaccurate date predictions about upcoming events. Every week was wrong - EVERY WEEK - for many months!!!! Sound familiar with regards to other posters here?
I do understand your point, and I certainly admit you have a right to hold that position. I just happen to think it is a lot of work without any reward!!! I hope we get a positive press release every 2 hours for the next 6 weeks. Unfortunately, the price action will just get a little choppier, but the overall price won't change as was shown by last night's post. We need to know about the OIL. Investors will flock to the OIL. Sure, we may see another anticipation run into the likely result days, and that will be nice, but the OIL will dictate the outcome of the investment for me.
Focusing on the OIL here. That's the PR I want to read.
Level II lookin pretty weak right now. 3 on bid above $.76 .
I guess the BM last night didn't impress the market.
Ah. A fourth just joined in.
Another thing to keep in mind is the possible aquisition of the tiny independent African companies in each block. Many of those small companies were said to have been created simply for the winning of property rights in the awarding of blocks, and those companies may not have the financial strength to carry their own costs in the drilling process.
What will the majors do with them - buy them? Let them fail and assume the percentages when monies cannot be paid? Take costs out of the oil only for those companies?
Did the JDA ever create rules with regard to these companies, or rules that could cover this type of situation?
Anyone with some insight? Homeport?
Nope - had you been in Pal Talk, you would have heard some of the most outrageous things from that poster. He and other "trusted posters" ran all over the people reading this board and in that chat room.
Some things are unforgettable.
There are far more players here than people care to know about. My opinion, but based on 8 years of learning personalities.
Please people, always remember that this board is basically for entertainment. Learn your posters.
Off the soap box.
We have a wonderful opportunity with this company. Hopefully everyone makes the right decisions for their own needs, based on information they CAN trust, instead of information they HOPE they can trust.
Thanks for the laugh AMS. Humor is a good thing for the human mind.
Go ERHE. Keep consolidating like the past 2 days....
Pretty much, yes. Has been and will continue to be for a while.
Don't you remember the great debate between our resident dot connector and resident dumpster diver???? The dot connector kept claiming institutional investors were here, and the dumpster diver kept being right.
How soon we forget events from years ago!!!
Non-retail investment here has always been VERY weak. Can't say I blame them - no OIL yet.
OIL.
OIL.
Strass - I use Command Center with Ameritrade to follow ERHE and it does it well.
Command Center can be found in the "shortcuts" at the top of most pages.
Perhaps those 4% are shares held in certificate form and not available to be immediately converted to cash, like thru a broker. Perhaps those 4% were not voted up or down in the voting process.
Just a guess.
Manti - I want to thank you for the many contributions you have made to our boards over the years. You have exhibited much class and have offered more to us through your posts than we can ever give back to you. I don't ever recall you sinking to the level of personal attacks. You've been above board all along.
I wish you the best in your search for great rewards. We need more Manti type posters in our community - not fewer.
Good luck to you.
Cobra Jet, I think the "it" you need to get is the relative impatience of the average player in this stock. I agree with what you are saying. I'll try to explain my meaning of impatience. This is greatly over-simplified, but I think you will get the meaning.
For simplicity sake, I'll break those people here into a few categories. Some people bought this stock to make some quick money - let's call them traders. Some bought in hopes this company could become a hit with its rights and have a price explosion - lets call those mid-length investors. Some bought to ride the entire length of the story from gaining rights to hitting a few big oils fields and creating another CVX or XOM. Lets call them long term investors.
Traders always wants news - good or bad - to swing the stock hard and make money on the play up or down. They watch every tick of the stock every day, whine about MM games and the grand conspiracies in the market, and get really angry when the volume is miniscule and they can't get out to another play. They get creative with their own news, band together with others of similar interests and try very hard to sway people of the positive or negative about the company - at that moment - as it suits their indivual needs. I want a PR - I want it now - and I want many of them. (I was one of these for a while, but not the manipulator part of it - just don't think it is necessary).
Mid-length investors take an interest in the company finances, how it is being run, and how external forces (in ERHE's case foreign politcs and civil unrest among many) are affecting the company. They like to be kept informed through timely filings, company strategy indications and PRs about project status'. Day to day price concerns are rather low, but they can get annoyed by a lack of fair (in their eyes) share pricing. Many of these people like the story of the company, and are excited about its potential, and even become mid-length investors by first being traders. But the value to them is the pot at the end of the rainbow - OIL. They want to see the OIL found in quantity. (I'm one of these converts). At the point of oil discovery and stock price adjustment to it, their interest in the company may be more about moving on to another. Patience for them is about surviving the longer than anticipated time-line here.
The long term folks are the ones that don't give a rats behind about the $.10 drop today or $.15 climb tomorrow. Their focus is on the company growing into a monster company. They will see the company through the dry periods and the fun times, following company strategy and plans to see if they are gonna grow into a larger organization after OIL is hit, expanding into a big player in some form. They care more about the quality of deals and partners, sound fiscal planning and company structure (personnel and stock). These folks are patient in a big way, or are REALLY annoying and should find a company other than ERHE!!!!! They focus on other things in life and are looking way out there in the play. (I won't become a lifer with this company, should that opportunity present itself).
If you can buy into the oversimplification above, pick the poster and look at the posts. You should be able to understand where that person is coming from based on their investment style with ERHE. It's highly unlikely that the long-term investor is dying with each down-tick of our stock or buying new furniture with each up-tick. He also doesn't give a rat's behind about whether the wording of a partner's PR spelled Offor's name correctly or really even mentioned us. The trader surely isn't talking about how the company has structured its common and preferred stocks. He wants PRS and share price movement. He wants it now.
In my opinion, any mid-length investor who is whining about share price and the lack of company PRs right now is wasting energy over something of which they have and will never have any control, nor does it affect them in any way. These people need to focus on one thing and one thing only - OIL. Are we drilling for OIL? When will we get results? Are we going to be producing in 6 months, a year, or 2? What is going on with the EEZ? The goal for these people should be the drill ships hitting OIL, not whether it got PRd in a timely fashion, with wording I like. To them, those PRs are irrelevant if their true goal is about the OIL in the ground. OIL will determine the price of this stock after drilling, not PRs from our partners about how coats of paint are being put on the drill ship or even if it is in position yet. OIL. Did we hit OIL? How much OIL did we hit? They can whine and whine and whine, but it will do little more than make them feel a little better and catch a lot of abuse here on the board.
Will there be a grand conspiracy to destroy ERHE based upon the results of the drilling for OIL? You betcha there will be - our board (and the traders on it, along with a bunch of paranoids) will make sure of it. But in the end, for the patient and those that don't get DISTRACTED, the mid-term and long term investors will make their decisions based on the OIL found with drilling, not the PRs that are, or are not, taking place right now.
It's all about patience and focus. And the OIL.
That's my opinion.
Focus on the OIL.
That wouldn't surprise me in the least. I hope it is higher!!
After too many years of playing in the market, this little episode today reminds me of the times when things got leaked somewhere, the stock moves up on the in-the-know buys, gets sold back down on the fizzle and no release of info, only to see the bid/ask get spread widely by market makers as they sort out their day's inventory and take, settling up their accounts. I think that pretty well describes what I saw today, and I hope I am correct, because the next phase is usually the hard and permanent move forward. I've bought other stocks many times during the return-to-start on this kind of day, and done extremely well on them in the past. But no, I didn't add today because I've been adding for the past 6 or 7 years like many others.
The sooner the better!!! But we need info before that will happen, IMO.
I'm thinking I understand what you are saying, but I am also thinking it is a bit dramatic in how you said it.
We've traded 3,134,238 shares at this point, but most people insist that BB stocks are always double entered on the sheet, so the volume is more like 1,567,000 - lets call an average of $.75 each for those shares, making an approximate value movement today of about $1,175,250 or so. Considering the amount of shares outstanding for the company is some 730 million or so, the percentage of shares moved is almost less than a sand pebble on many beaches.
The current return to the price as of the start of day is unfortunate, but even a dimwit like me could see that was probably going to happen with the relatively low amount of shares that moved it up as stated in an earlier post.
Hopefully we find out why the price moved up today and find it out from a company release (even if it isn't our company) that can be read and understood, not just from the usual "birdie" and "unnamed sources" that we have here. While I appreciate those bits of information being shared with us, they usually result in exactly what we have seen today - a move that doesn't last.
Hoping for good news to reveal why we had a jump today.....
The jump today was done on little volume in the big picture, so we really shouldn't be surprised by this fallback when there is nothing in print to support the move. If there were more people looking to buy at $.79, we would still be there. It's not always a game for MMs to play!
But the 700,000 or 800,000 shares that moved us up came from somewhere. Who and why are the real questions.
This would have to be considered great news for us, assuming it to be true. The hostilities between Anadarko and the bid round/ERHE/JMC can be put behind us and perhaps the terms of APC's leaving somehow prove to be beneficial to our partners - I doubt they would kiss us on the way out.
We need some news to explain the rise or we may be seeing our previous ceiling as a new floor very soon. I suspect we get the news after hours today, or over the weekend. The details are needed though.
Now that was funny!!!
Thanks for the morning laugh.
I used to check share counts all the time and used this person - don't know if it still works or not. I haven't bothered in quite a while.
kye@corporatestock.com
I'm hoping you were smart enough to have not made any mistakes this week.
Remember the 3 day rule, and that there are exceptions to that rule.
Best post of the year - maybe years!!!
Unfortunately, there are probably less than a handful of people here who understood it!!
Great sense of humor.......
Love the cartoon!!
Did something happen today that I am not reading about, or has momo arrived?
I thought I recognized the odor........
You certainly are free to search thru those 2 yahoo boards for all the files that were put there. It is organized, to say the least. We had some posters (Eva and Albrt I think were two of them) who were monitoring and downloading info from Pacer at it became available. Trust me when I say there are A LOT of files out there to go through pertaining to the bankruptcy proceedings.
For more help, try accessing the Raging Bull board for Trenwick and perhaps that can help you with the understandings we had back when. I believe that was our major form of communication.
I would love to offer some input here, but frankly it was a VERY complex structure to deal with (reinsurance, Trenwick)and I just don't feel like trying to get back into that understanding mode!!!
Thanks for what you are doing here.
Good to have you here. Welcome aboard, and best of luck to ya.
And just how are things in Jesterland? And trips to the South of America areas? I hope you have plenty of coffee for your dry toast!!
Me - I'm sportin a new titanium helmet. Extra large flaps for the ears so I can't hear anything!!! Already has a few dents though.
It's nice to see many familiar names popping in again. I hope everyone can recover a bunch of their money, and for those new investors, that they can become independently wealthy from investing here. This was, without a doubt, the hardest working group of people on any stock board I have ever been associated with. Quality and class. I wish the best for all of us.
Hey guys..... Albrt is a standup guy of very high character and stature to those who know him. He did a lot of work (including legal stuff) in trying to help shareholders get a fair break. Please respect him and other "longs" who took it on the chin here. We were bitter over being misled by manglement, Marty Becker the biggest idiot of them all. There were a lot of good folks who took some heavy losses here.
Please respect that.
Thanks.
You should be able to find the other yahoo group from your MY YAHOO area. Just click on your groups link.
I'm gonna let this play a while and see what breaks out.
You are already in that group Albrt. It is one of the 2 Yahoo groups we used for uploading all of the Pacer info and other stuff.
This link should work for ya.
http://finance.groups.yahoo.com/group/Trenwick_Legal_Talk/
Great to hear from you again!!
Lol......... $1.34 if I remember correctly. And at about 75 other levels on the way down!!
Lifegear - you have been added. Check your e-mail.