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Wow, now thats really sticking your neck out there. Even Nick could have figured that out.
No trades in 23 min's. Trading halt? eom (LOL)
IMO it will be Addax. Most logical. Then watch for a major buy-in or possibly buy-out of Addax upon drilling.
too much dillution-taking on billions in debt to buy erhc!!!lol
If so, this is a good sign imo. eom
Is this a new section recently added under the "Governance" section of the erhc web site? http://www.erhc.com/FCPA.htm
STP would just love that. eom
TRTOY-Thats been bugging me as well. I see 2 possibilities and I don't think it has anything to do directly w/the Chinese.
1. The USA may be putting in a tactical military base on STP to fight terrorism. This could be the trigger for HLS;
2. Other possibility is that W. african oil has been declared, I think, an area of National Strategic security for the US due to our reliance on oil from there. This "National Security" umbrella could have triggered HLS involvment as well.
3. I uppose a third possibility does involve the Chinese, ie, we don't want Chinese submarines and war ships patrolling the GOG and W. Africa.
ouch-sorry about that. Still weird as their stat's are aces.
Good to hear from you again.
Anyone know why the sudden drop in sp for AXC? Thought their financials were excellent but seems to be taking it on the chin. Maybe insiders know that they are gonna be taking on some huge debt soon? (Just a wild guess-no basis in fact. probably just profit taking-or maybe not?)
Until SEO sells/transfers or some how disposes of a large percentage of his shares, nothing has changed. Voting control by SEO will keep the same folks away from wanting to deal w/us. I have to believe this will be addressed though.
This co's trading has never had anything to do w/general market conditions. it has NEVER traded rationally.
Anyone else having problems with Charles Schwab today? eom
No, Crappie. eom
Makes sense-stock swap w/axc or cvx. My money still says AXC will buy-in or gain a big chunk via swap w/SEO/Chrome.
Agreed. I thought the rumor was he was going to give up roughly a third of his holdings.
If SEO resigned as a condition to a buy-out/in, or to appease the DOJ/SEC, and I'm betting its a buy-in for now, you can bet part of the deal calls for SEO to sell a good chunk of his shares as well (Chrome shares). Other wise he retains too much voting power and indirect control of the company. This had to be a requirement.
I vote for the best deal. (But hope its CVX/AXC). Probably will be AXC followed by a take out of AXC by CVX.
Trytoy-hadn't he posted in the past SEO gone? Walking the plank? etc.......?
FITZ-IMO they definitely knew about this. Remember also that they announced a shareholders meeting as well. Too much public stuff from this co for there not to be a strategy. i too thank SEO for what he has done but agree it was time for him to give up the reigns (if he really has. LOL)
And I know my statements are a bit cliche and naive sounding-but no matter what people think, US co's still have to compete w/state controlled oil co's who can do whatever they want, whereever they want to. Geez-look at what the Russians are doing.
Don't want to get off-topic here, but tell me about all the corruption investigations in china and show me where the US gov't sanctions doing business in Sudan. probably best not to take this thread too far-will become too political and OT
They didn't screw up, they just weren't willing to dirty themselves to get the deals. China has no morals and no FCPA to deal with. They are ruthless and don't care who they do business with and will do whatever it takes to get the deal.
Can only hope Feltang is a legitimate organization. The alternative is too painful to contemplate. Sorry-In a bad mood today.
Agreed!!! Good post. eom
Your cynicism is warranted. This co is a real piece of work when it comes to disclosure and reporting duties to shareholders. Par for the course.
SFREED post re recent filing:
http://finance.groups.yahoo.com/group/theelephantfields/message/11939
Wonder why a PR was never put out about this. Guess its possible they wanted to wait till 8/30 when its official. I doubt even then they won't PR this event. We shall see.
Its not 26%! They get 1.8%-not the full 9%. And there have been much bigger events in the past to justify such a historic first CC.
Thanks. eom
Agree. Hey, a little dilution is good for the soul. lol-eom
Hi Gary, Just curious-wouldn't you think the co would have to authorize issuance of NEW shares to be able to pay Feltang? Where else would the shares come from?
Gary, BUT 7.2% goes back to Addax. Still better than a stick in the eye. eom
Just for the record, that was NOT me buying the 200K. eom
Just a thought but I think its important to evaluate not only the decision to have a CC but ALSO evaluate its relevance along with the announcement that the Co will be scheduling a shareholders meeting. Heck of a coincidence IMO. This is more corporate activity than we've had in years.
Thats not funny Traimal. LOL eom
For the record, that 250K was NOT me. lol eom
Group Hug. EOM
Ain't no way any of us will hear Offor. Won't happen. eom
Total and complete arrogance. eom