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Tamtam.
If you can and agree can we pin Post# 257005 on top. It's the news release that clears ERHC of any wrong doing.
Cheers
Brez
I agree, but I'll have to let Tamtam do it because I'm on mobile right now.
Cheers
Brez
We all knew that nothing new is said at these meetings. We all knew that, as usual, they would pass the cool aid.
BUT THE ANNOUNCEMENT OF ACTUALLY RECEIVING LETTERS REMOVING ALL SHADOWS OF WRONG DOING IS THE THIRD BEST NEWS THAT WE COULD RECEIVE!!!! ONLY TWO BETTER NEWS COULD BE SAID, BUT NOT AT A SHAREHOLDER MEETING; 1. BUYOUT, 2. FOUND OIL. THIS NEWS (3. LETTERS) WAS AND IS FANTASTIC.
Cheers
Brez
Thank you for all of you that went to the meeting yesterday and reported to us your thoughts. It was great.
Thank yoiu
Respectfully
Brez
ERHC Energy Inc. Announces Formal Closure of All Government Probes
HOUSTON, April 27, 2012 (GLOBE NEWSWIRE) -- ERHC Energy Inc. (OTCBB:ERHE), a publicly traded American company with oil and gas assets in Sub-Saharan Africa, today announced it has received formal confirmation from the Department of Justice and the Securities and Exchange Commission (SEC) that proceedings on subpoenas served on the Company several years ago are closed. The announcement follows ERHC's receipt of letters from the Department of Justice and the SEC confirming that they have closed action related to the subpoenas served on ERHC between 2006 and 2007. ERHC had earlier sought and obtained confirmation that it had fully satisfied the subpoenas of the Senate Permanent Subcommittee on Investigations and that the Subcommittee is undertaking no further action on the subpoenas.
ERHC has always insisted that subpoenas are merely requests for information and that service of the subpoenas on the Company did not necessarily mean that any further proceedings were intended or would result with respect to the Company.
"Today's announcement is the culmination of six long years of work aimed at protecting ERHC's oil and gas interests and advancing the interests of our shareholders," said ERHC President and CEO Peter Ntephe. "Now that the cloud of suspicion resulting from the subpoenas has been formally removed, we expect that many of the challenges of selling the ERHC proposition to prospective partners and the larger investment community may be significantly diminished."
ERHC holds oil and gas exploration interests in the Republic of Chad, the Sao Tome and Principe Exclusive Economic Zone (EEZ) and the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ). In the Republic of Chad, ERHC has 100 percent of the interest in BDS 2008 and Manga. The Company has a 50 percent interest in Chari-Ouest Block 3. In the EEZ, ERHC holds 100 percent working interests in Blocks 4 and 11 with an option to acquire up to 15 percent working interests in two more Blocks. In the JDZ, ERHC holds working interests in Blocks 2, 3, 4, 5, 6 and 9.
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused on growth through high impact exploration in Africa and the development of undeveloped and marginal oil and gas fields. ERHC is committed to creating and delivering significant value for its shareholders, investors and employees, and to sustainable and profitable growth through risk balanced smart exploration, cost efficient development and high margin production. For more information, visit www.erhc.com.
http://www.nasdaq.com/article/erhc-energy-inc-announces-formal-closure-of-all-government-probes-20120427-00626
They must be at the part where they say " ... all in favour of the buyout for $7 Billions, say aye..."
Cheers
Brez
Thanks Pete.
Brez
Well, that would mean a min of 2 Billion therefore an approximate $3/share. At this point, I would've taken that and never looked back!
Cheers
Brez
Actually TS, I was more of a cynic than an optimist, I was just making fun of mid's awesome absolute statement! I guess that makes me a comedian to!
Let's hope this year is our year!
cheers
Brez
LOL, I "always" love absolutes......
Let's hope for a great week.
Cheers
Brez
"I want to see this company drill some more before they accept any type of buyout offer"
Good call, I certainly would not accept $10 PPS right now because, I too, want to see more drilling!
Cheers
Brez
Thanks. More importantly the iPad like the sound of my voice and types it well. Cheers Brez
It would be nice to see the stock close above $.11 today. By the way this post was done using voice command on the new iPad.
OT: just testing out the new iPad voice function on the hi hub thank you. Brez
Krom,
Although all you've stated is possible, we have to remember that the BOD can easily play games with us minority shareholders, but they can't do the same with the majority SH! If they did, they're option package would not take the form of stock options but rather more like a burning tire around their necks! Since we, the minority SH, are tied at the hip with THE majority SH, we should be alright.
Now where did I put that bag of marshmallows?
Cheers
Brez
You never know. There might be a plan in place.
I just finished reviewing contracts for the sale of a piece of land. Included in the contracts is a non-disclosure form that the parties are not allowed to reveal that the interest, buyer, agreement or it's terms for the land are on-going until the conclusion of the sale.
What kind of contracts do people have for oil properties? I bet you it's a little more complicated then what I just reviewed!
Cheers
Brez
OT: Even as a moderator, I can't seem to PM you with a free subscription. Sorry. No worries, we will work through it.
cheers
Brez
OT: Umbra I cannot reply to your PMs. If you could PM me an email address I could reply.
Thanks
Brez
Thanks.
The reason why we are on the same wavelength is because we see things for what they are, nothing more nothing less. No amount of posting otherwise or hidden agenda will change how things are.
Simple really.
Cheers
Brez
Maybe!
Cheers
Brez
I think you are forgetting:
"Yeah you could say we have over two years of operating cash left but that's not really enough to play in the big leagues in the oil industry"
We were never big enough to play in the big league to start with! Exxon's out, we're still here. Chevron's out, we're still here. Now if we were the only ones left you would be right. But SNP, Total are with us. Both these companies have experience with the accepted foreign relations culture in Africa. So you are voicing your paralyzing fears but you are continuously missing what we actually are. We are nothing more than a speculative play from a Nigerian Tycoon who is hell bent on making money, one way or the other. We were never meant to play in the big leagues, we are and we'll always be the glue that attracts the big league to us. So you either believe the SEO speculation will work, or won't. You said you believed in the assets, I'll bring forth that SEO is one of those assets.
Yep anyone can read a balance sheet. Weird, though that once again, no matter what "the big league" try to do to us, we are still here. May I add, still here with additional EEZ and chad acreage.
I'm sorry to read between the lines that you are having financial difficulties, I can sympathize, but pouring paralyzing fear unto a board will not speed things up.
Enjoy smaller things in life, go throw a football with your or your neighbours son, it really is therapeutic.
respectfully
Brez
Maybe. Since we have over two years worth of cash left, there's also plenty of ways the Nigerian political class, who happen to be our fellow minority share holders to, to demonstrate to Total and snp that a siege on ERHC is not in their best long term interest.
Remember, China does not view the future in 4 year terms, they view it in terms of 100s of years. Therefore in this light, ERHC is nothing more than a stepping stone. Why do you think that Chinese company pay an average of $11/p50 barrel while others do not? SEO is and always will be the entry point to Nigerian offshore oil and if it means that once in a while the wheel has to be greased, than china will.
Also,
We have to remember that we are not in isolation here. We go down, SEO goes down. If SEO goes down then all his political friends that are invested will go down. We have not seen insiders bailing, we have not seen massive selling. Therefore they are in. So am I.
All that you have presented here is possible, everyone is just discussing the probability. Again I stake my money on the probability that SNP won't burn their bridges in Nigeria or else where in Africa by trying to starve out SEO, and therefore, the Nigerian influential class.
Just my 2 cents worth.
Cheers
Brez
The whole block 2 analyzed in one hole? Na, in my opinion there's way too much acreage to be thrown out on the back of just one hole. They will drill at least one more.
Cheers
Brez
;0)
Cheers
Brez
OT: Umbra no you don't and I'll bring the rusty pliers!
Cheers
Brez
Yes. 30 days after selling. Most seem to believe that sellers sold on the last possible day.
In reality the selling starts at the beginning of December with an increase towards the end. I buy the last week of December to get the best prices. Conversely you may get some, if they are so inclined, to start buying back in the beginning of Jan while the majority will start buying back towards the end of Jan.
Again this is not gospel but I find my odds better than in Vegas with this train of thought!
Cheers
Brez
I was just toying with MT since he was stating that the lousy management was the cause of the drop in price and not tax sell. While admitting the jump in price was due to the tax sell folks. I think historically the price go up starting second or third week of Jan?
Cheers
Brez
That is correct. That's why this increase doesn't mean much other than in the next couple of weeks people will be jumping back in prior to Total drilling in block one.
Same as the price drop in December, it meant nothing since we, even you, knew it was tax loss selling.
.089 .088/.089
Brez
What do you think? I've made my decisions, but none of them include repetitive, non-stop badgering.
I am not alright listening to whining for the next 10 years either.
Man up and take responsibilities for your own investing decisions. You have the choice to be in or out. Chuck a rock, make a decision and live with it. How old are you????
End of the year selling is over now. You can take a breather. Now that I think about it, isn't time for you to start pushing the positives? There's plenty of it to come for you to pick from.
OT: to you as well!
Cheers
Brez
Perfect. With all the bashed in doom and gloom already taken into account with our current SP, now all is left is positive events trickling in and the folks getting back in. SP should be slowly moving up from here to May 2012.
If MG starts posting again I guess it will be time to lighten my position!
Cheers
Brez
I believe this is the last selling day of the year. Let's hope that 2012 brings us a better SP!
Happy new year too all shareholders
Brez
OT: anchors away!! :0)
Cheers
Brez
PS we will raise a glass to your family this weekend!
Me.
100k @ .085
200k @ .075
......mmmm..... Suicidal charge? We'll see.
Cheers and good luck to us all!
Brez
Now Tryoty, that is the best post that I have seen in a while!!!!!
Merry Christmas and a happy new year to you and your family.
Cheers
Brez
:0)
Brez
Wow, that's different! But welcomed!
Thanks Homeport for posting.
Cheers
Brez