It is about time ERHE comes back to life.
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Balance, that post is almost eerie if all this comes out to be true. Oilphant indirectly would have spelled out the rig name back in May of this year "find the path for the major answer 2.(yes)"
Upatnight, after three to four years of delay after delay, what insider isn't up to their eyeballs in ERHE shares already. The "insiders" may be as tapped out to their comfort zones as the rest of us wannabe insiders, LOL.
But, I suspect we will get a bump in volume and price anywhere from a few hours to a day prior to the public release of this info.
GLTA
Ironically, if you put Oilphants info together with Barry Morgans artical we would end up with:
Transocean's "Deepwater Pathfinder", sublet from Nigeria Shell, to begin drilling in blocks 2,3,or 4 of the JDZ in September 2006.
Scary, but I'm ok with that headline.
Now which ERHE partner would have the deep pockets and desire to bid a price high enough to make it worth Shell's while for that rig?
Deepwater Pathfinder already in Nigerian waters.
Sounds plausible for one of ERHE partners or blocks to sublet the rig from Nigeria Shell/Agip/Petrobras starting in September. Oh, and that is one week away.
If any of this is true, I would expect a PR when the deal is signed.
Oilphant, you may regain some credibility and we would all profit from it.
Looks like it can do the job, Thanks for the specifics oilphant.
http://www.deepwater.com/fleetspecifications.cfm?ID=710
Oilphant . . .
Ok, but according to an old post of yours "1/8/06 is also 8/1/06" which means 8/22 could also mean 22/8. I don't recall which month is 22 but it's not on my calendar....
Actually, I appreciate your clarity in that message. Any chance you could expand on your data and let us know when it might be announced?
Stay the Course, I don't disagree with the approximation of the timetable you suggest but the share price should dramatically improve as it is based on future expectations. Once a drilling schedule is announced there should be a dramatic bump in price followed by a leveling off. Then once any reasonable potential amount of net pay is discovered and announced, there should be another major bump. Yes, it will take years before commercial oil is produced but by then there will be many announcements along the way to give solid oil reserve numbers that will be the basis for ERHE price.
Since ERHE has partnered with world class oil companies and obtained a carry to oil (by giving away a part of their own percentages) and they have a good size cash position for the continuous legal battles, the price should reflect future potential revenue streams. I don't expect $20 overnight but by the time profit $ hit their 10Q the price will have gone through many "bumps" up to reflect this profit.
If this weren't the expectation, I would be invested in Addax.
I find it hard to believe that ERHE advertised for a CEO. If it is true, then the only way I can give them the benefit of the doubt is that they advertised for some due diligence reason.
I will add my experience in this arena. We have a foreign person working for our company that requires employment to keep his "greencard". Our attorneys highly suggested that we put out a generic advertisement for his position to show that we at least offered the position to US citizens. We then put a highly specialized advertisement for an "open" position that this foreign employee fit like a glove. Needless to say, our current employee (of 3 years) got the job.
I know this sounds a bit of a stretch but it does happen. Maybe, just maybe, ERHE is trying to be very careful since they may be under close watch of the SEC etc, and they are advertising for the position even though they already are well down the path to hiring a highly qualified candidate.
If I hadn't experienced this foreign employee thing personally, I would not think highly for a company of this magnitude to be advertising for a CEO in the paper.
Just my thoughts,
Strategyone
oilphant
YPAWLTZ
YLACWY8/1P
#@*#&^, come on oilphant. A six letter post.
I can guess what CEO stands for but "PRC"???? is this the incoming CEO's initials?
If your going to post, at least give a better directed post.
WB out. Interesting. I will reserve opinion until the replacement is announced. I will disagree that this is precursor to a buyin/buyout etc. If this was required by the partner, it would be announced at the same time if not after the good news was released.
Also curious if this is the action that "oilphant" referred to in his "get ready for new team jerseys" quote?
Pretty quick exit for the finance guy after his CPA blunder and personal bankruptcy issue. I am slightly suprised by his quick exit. I would have thought EO to back his boy and not care so much of his non-work related bankruptcy even though it looked bad from a shareholders perspective.
Have a good weekend all,
Strategyone
Oh Please! Are we all that bored and easily manipulated to divert our baseless arguments from one negative topic (potentially loosing our rights) to the next (RS).
I have been away for several weeks on vacation and nothing changed. ERHE is just several more weeks closer to drilling. The stock price will begin to reflect the value when we hear ANY positive news from the company. Until then, I suggest we all enjoy the summer.
GLTA,
Strategyone
Finally, Silverstein spills his beans and puts it all down on table. No more speculation or unknowns about what might happen. If this is all that Silverstein's got then I think all those who sold off due to the unknown may now start to re accumulate.
Net results: No new info but he clarified what his speculation is and as I see it, there is no smoking gun. Stock is up 10+% on relatively light volume. Thanks Ken.
Now we can look forward to -
New PR firm to help communicate the POSITIVE side of ERHE's story (soon).
ERHE website update (yea, yea, yea, eventually it will happen).
Afren's leak that more JDZ Block 1 drilling news is coming (their price is up substantially).
ERHE/WB road show to begin later this summer.
Eventually, Addax/Sinopec to announce drilling rig scheduling.
Heck, even Block 3 drilling news will bump ERHE up.
Enjoy the upward trend, it is over due.
Strategyone
SWEET!, A PR firm being hired. Best news I've heard all month. Thanks Markgovols for your persistance with WB and sharing with the board.
dbernet,
Very good summary of the likely scenario regarding the search warrant.
For a change, I am glad to see what Ken Silverstein wrote regarding the link between ERHE and the Jefferson probe. Although he may think this brings a negative light to ERHE, the opposite result will prevail. First, this confirms the rumor that the warrant was not the beginnings of a SEC investigation or a follow up on the DOJ request from STP but an internal US issue regarding a crooked congressman with links back to FORMER owners of ERHE. I never gave much weight to the rumor that the warrant was related to Jefferson. On a side note, this confirms what Sfreed was saying all along on the Elephant Fields board and shows him to be a reliable source or at least connected.
Second, with regards to the whole Nugent, Wilson, GEEC et al. connection, let the US gov. go after these individuals all they want. Again, I don't make EO out to be some saint and I would certainly believe that he did what he had to in the GOG part of the world to make this whole business deal go through, but the US isn't going to find squat regarding EO and STP in the Houston office. If Jefferson goes to jail and the gov. eventually throws Wilson or Nugent in with him, so beit. ERHE will come out smelling like roses because they cooperated in the investigation and the company wasn't the focus of the warrant. That is all I wanted to hear.
Now, on to the oil. Addax or Sinopec should be announcing drilling plans in the next few months I would guess. No where to go but up from this pps. Nothing but baseless bad rumors and no comment from ERHE to create an way oversold and undervalued position. For those with spare risk money, enjoy the bottom fishing. You deserve the rewards you will get.
GLTA,
Strategyone
Hence my reference to the "hoodwinked" movie yesterday.
I speculate that there is a bit of truth from all these sources. When one looks at the information from only one source, you are tunneled into only one outcome when in reality there is a lot more to the picture.
Think beyond the dots.....
An Observation:
For any of you out there with young children (mine are 7 & 9), you may have already seen this movie but for those who haven't it is very good (even though it is a kids movie) and I found it to have some amazing parallels to the ERHE saga. The movie is called "Hoodwinked". Don’t panic! I am not implying anyone has been hoodwinked here, that is just the title of this movie. The amazing part (without giving away any of the movie) is that you first see the primary scene, then the movie goes on to get the perspective of 4 of the primary characters from their side of the story. Each time another primary character tells their story from there perspective, there are many “aha’s” and the full story starts to becomes a little more clear. You can see where the scenes relate and how they can look like entirely different. Each story told is true but only from the single characters perceptions.
Here is how I relate this to ERHE:
Chevron: From their perspective and their public statements (they have drilled "OB1 and it has at least 150’ net pay in multiple zones; they continue to analyze the results; premature to state a commercial find", one can take all these comments and come up with one version of the truth. Only one well was drilled, maybe or maybe not commercially viable, they will drill again in 2007. All of these statements are most likely true and if this is all the information one went off of for the potential of other blocks in the JDZ, they would likely be less than enthused.
Oilphant: From the mysterious and puzzling poster, we get OB1 net pay 800’, OB2 already drilled, now there is mention of OB3. If these postings are close to the truth, I am guessing that Oilphant or his/her source is either on the drill rig or works in the lab where the samples are tested. Again, from this single perspective, the JDZ is looking glorious and could solve the worlds near term oil crunch, LOL. Again, all of these observations or statements may be true and do not necessarily prove Chevron’s statements to be false. They both may be true and just stated from a different logical perspective.
Meridian: This infamous poster once made comments relating the OB1 find to have discoveries the size of a nearby large oil field (I forget the name) somewhere between 7 – 15 Bbls. This poster once provided very key information relating to the PSC signings that did turn out to be verifiably true and proved his/her source to be very close to the ERHE inside dealings (at least for psc information). Then this posters obviously had a different opinion on how ERHE/Offer should be running this company after PSC’s were signed and this poster made these opinions public on the board and this poster was eventually run off this board (albeit not entirely undeserved but maybe overdone) . But back to the OB1 observation, this too may turn out to be entirely true and again, this statement alone does not prove anyone else to be incorrect. It is simply one comment and one point in time from one source of information.
Barry Morgan: Now this industry beat writer has made all sorts of statements over the years. Some have turned out to be true, some have never transpired and some comments we may never know whether there was some truth to them or not. But from this one sources perspective he has written that the OB1 field is more than a 1Bbl find, biggest of the year for Chevron, may straddle block 2; Chevron is about to meet with ERHE….etc. At this point, some or all of the se statements may turn out to be true but we may not know for sure for some time. I gather that BM has several sources throughout the industry that feed him little bits of info and then he puts them together from his perspective. Who knows, some of his sources may be feeding him good info and some may be baiting him with misleading info.
Richkan: We have a single post: “Per head honcho onsite: This is the biggest thing we’ve ever seen”. This may be true but what this head honcho onsite means is left to your interpretation. Does he mean “biggest thing” to be huge net pay; or most multiple zones; or highest pressure finds; or cleanest oil (low sulfur, less sand…etc); or a huge gas find? Who knows yet? This may be true but we don’t know the whole truth and it certainly doesn’t prove any of the preceding statements to be false.
Fishdog: We have an intriguing comment about multiple wells in block 1:
Information regarding offset drilling in Block 1 is not ‘inside information’ to the adjacent operators. Just ask any officer of any Block 2, 3 or 4 partner if CVX has drilled a second well in Block 1.
I did …… and was told “yes”.
Here again we have one tidbit of information which, if true, does not mean other sources are necessarily wrong.
All of these different characters just go to show that different people have different sources of info and we may need to piece them all together over time to truly find out whom was telling the truth or how the whole story will eventually unfold.
Now, I don’t base my investment decisions on any one source of information or a group of posters on any one investor board but I also don’t go out of my way to discount or prove one poster wrong over another when in the end it may just turn out to be one version of the truth.
When one of you clever posters eventually writes the movie script for the ERHE Story, please write in Jack Nicholas for Emeka Offer…..”You want the truth, you can’t handle the truth”…..
Take time to enjoy the story as it unfolds,
GLTA,
Strategyone
Great find Fishdog. Kind of looks like standard happenings within the industry in that part of the globe. I doubt if the SEC did find enough evidence to go forward that ERHE would get anything more than a slap on the hand and that wouldn't happen for years. Some posters have questioned whether the awards would be in jeopardy. NOT likely. An insignificant fine years down the road at best.
Now, on to the oil.
Ironically Meridian Holdings Inc. also looses the "E" tomorrow...LOL
It's official - ERHEE goes back to ERHE 5/24/06
http://www.otcbb.com/asp/dailylist_detail.asp?d=05/23/2006&mkt_ctg=OTCBB
Wednesday is likely when ERHEE becomes ERHE again.
Currently scheduled for tomorrow are three companies loosing the E (there is another company that I can't find the submitted filing on). They each submitted their filings 5/19/06 on or before 14:34:40 (on the 24 hour clock). ERHE's filing was accepted by the SEC on 5/19/06 @ 19:10:31. There is some kind of 5:30 (17:30:00) deadline on a daily basis which I am deducting that ERHE missed to get their "e" dropped tomorrow. Therefore, Wednesday will likely be the day for the ticker symbol change.
Interesting to note that the SEC accepted ERHE's filing on Friday, so they did submit it Friday.
GLTA,
Strategyone
The 10Q looks good to me.
As expected, the $45 Million is now accounted for.
The share count stayed the same except for the granted options relating to business activity which I can accept. No dilution for cash needs is what I was hoping to avoid and now that ERHE has the $45 Million cash, we should see no dilution for quite some time.
There were a few more details disclosed such as the $3 Million paid plus stock options to a consultant for helping close Sinopec as a partner. Although this may seem like a high price to many here, I consider it a drop in the bucket in comparison to what it will most likely bring in and it is a one time fee.
Not a lot of detail on the Warrent issue but I liked the statement by the company that it expects no adverse affect. This is a very bold statement and is probably the best we could get at this point. It is basically stating that ERHE believes it is innocent in whatever matters the warrent was issued. This is also much better than saying nothing on the subject.
We did not get any more details regarding future drilling schedules (understandable but I still wished for this) or information regarding any "buy-in" which I still consider to be rumor and not priced into the stock.
This now leaves us with a new starting point (cash in the bank, rights perfected). I am looking forward to what WB or Offer has in store for ERHE next (road show, other deals, drilling plans etc). The "E" will be lifted within two days and we hopefully will begin a new upward trend in the pps.
And for the record....The Blog's three conspiracy theories completely struck out.
GLTA,
Strategyone
Somethings up, including the share price. That's encouraging. EOM
majicathome, My wild dream speculation would be confirmation that ERHE is in fact in negotiations with CVX regarding Straddle(s) from block 1.
Next best wild speculation would be Buy-in details but I doubt this because it also would have shown in the volume lately IMHO.
Blog should be referred to as BS-log. Where does he come up with this sh#@.
Reality check....probability of any one of those three conspiracies being true .0001% IMHO.
More likely scenario:
1) New auditors took longer than expected to confirm all numbers so no future "amendments" would be neccessary.
2) Warrent issue creates a last minute required disclosure prompting legal approval which ALWAYS takes longer than expected.
3) Required disclosures regarding PSC's (since they were officially signed during that quarter) are bounced back and forth between legal dept. of ERHE, Addax, Sinopec...etc.
In my opinion, if any of the other wild conspiracy theories had the slightest bit of truth to them it would show in the volume. Especially yesterday and today as this is when the release should be made public.
Good luck to all,
Strategyone
Oilphant,
Excuse my ignorance in oil speak but...."#2 flow rate 9900 bbl/d"... is that good? Does that help us define the size of the find? Does that information help describe the pressure?
Anyone else want to give a more descriptive meaning to this message?
Thanks,
Strategyone
Looking forward to the next two - three trading days:
1) I expect the filing to be done tomorrow (could be post trading hours though).
2) In the filing should be much anticipated:
a) Reciept of $45+ Million showing most in the bank with the rest going to pay off any remaining liabilities.
b) Details of PSC's including at least drilling plans on a yearly basis for Blocks 2, 3, & 4.
c) More specifics on the warrent from last week (as approved by legal council but probably not saying much).
d) Going Concern removed from filing.
e) Potentially some information regarding straddle between block 1 and 2. Probably no details but if negotiations have begun with CVX then they may have to disclose that the straddle exists.
f) Potentially a status update regarding blocks 5 & 6
g) No more stock dilution.
h) Specific details of each subsidiary set up for each block ERHE has signed agreements on (this should end Mongo's ranting and desception from the original PSC notifications that mentioned the subsidiaries)
3) Monday or Tuesday of next week the removal of the "E".
With a drop in share price of .01 for the first trading day of the E, I look forward to next week.
Good luck all,
Strategyone
Some facts regarding the "E"
When a company get's the "E" added to their symbol, you can still get quotes and trade just as it is without the "E". To illustrate this please go to today's listing of companies that have the "E" that will be removed tomorrow and try it for yourself.
The following link shows expected symbol changes for tomorrow:
http://www.otcbb.com/asp/dailylist_detail.asp?d=05/17/2006&mkt_ctg=OTCBB
I then selected the second company on the list "GDTIE" and went to Yahoo to get a quick delayed quote. Todays quotes are shown.
http://finance.yahoo.com/q?s=GDTIE.OB
As ironic as it may sound, there is a relatively new investment strategy employed by analysts these days (including the RIA I work for) that specifically look for companies that get the "E" due to the changes under Sarbains-Oxley. The basic idea behind the new strategy is that there are many good companies that get an over reaction or market valuation adjustment due to a temporary "delinquent" filing caused by new rules pushed out by the Sarbains-Oxley Act. This in no way is to say all companies that get the "E" should not be scrutinized but the strategy is to find the ones that aren't deserving of the over reaction.
It is my understanding that ERHE should be getting the symbol change to ERHEE starting tomorrow. If ERHE submits their filing by weeks end, the E will be removed Monday or Tuesday of next week.
It is my opinion that ERHE is a fairly simple evaluation considering it has no operations at this point. ERHE should be valued based on it assets and potential future assets (oil from it's rights). Is the delayed filing going to change these assets? If not, then there should be no change in the market value of the entity. If there is a negative change in market valuation and the late filing illustrates neutral to positive news then it is a market over reaction to the E.
Good luck to the traders (I will be holding through this cycle),
Strategyone
Dane, Great Post. Thanks for clarifying and sharing.
I think it is 5 business days but I could be wrong.
Fishdog,
I am not an accountant but I don't think ERHE will be stating the $45 Million as Operating Revenue either. ERHE as it currently exists, has no operations (in the future when oil is being pumped and sold, that will be "from operations"). The $45 Million that ERHE received from it's JDZ partners is from negotiating away part of it's "assets" or rights previously acquired, therefore the $45MM will likely be catagorized as "sale of assets". I also think this is why ERHE can get away with checking the box yesterday on the delay announcement saying no "significant change in results of operations from the corresponding period for the last fiscal year ".
If there are any accountants out there, can you chime in and give us your guess as how the $45MM will show up on the filing next week?
Strategyone
Word to the Wise
I don't play the flipping or trading game and I don't have anything against those with the time, inclination and ability to profit from it but......
Can anyone remember what happened to ERHE's share price the last time they had the "going concern" removed from their filings?
When is the next filing out?
Don't miss it!
Enjoy,
Strategyone
I am envious of those of you who have speculative cash today to purchase more shares on this news. This is precisely why ERHE is not priced at $2 - $5 per share today. There still remains "risk of the unknown".
Reality check time again:
What do we know?
1) Most likely a lot of SEC frowned upon activity went on many years ago while ERHC was courting STP officials when they originally helped set up the JDZ for STP.
2) Many STP and JDA officials once owned stock in ERHC and over time (when they were called to the forefront for owning it) they sold all their positions to look impartial.
3) In this part of the world (STP/Nigeria/GOG) many of these "frowned upon activities" are common place in business and not just by ERHE.
4) Big US oil companies have been accused and proven guilty of similar activities to what they are investigating to a lot worse dealing which resulted in the proverbial "slap on the wrist" fines many years later. [this is likely the worse case scenario]
5) These issues have been brought up multiple times in the past throughout the process this has given ERHE many years to make adjustments to their ways and clean up the records just like the STP and JDZ officials eventually sold their shares of ERHC.
Question for investors of ERHE is now - what is the likely outcome of this latest saga?
IMHO:
1) I would be surprised is the SEC found a bent paperclip in the Houston office of ERHE let alone any condemning evidence of any wrong doing (which undoubtedly occurred somewhere between Nigeria and STP) from several years ago. The Houston office is front for a US presence simply for the stock ownership and to be labeled a US entity when it serves a political interest.
2) The SEC jurisdiction probably doesn't reach into Emeka Offor’s home or office in Nigeria and even if it did, I seriously doubt anything condemning would be found. They may not like what they have "heard" occurred during this process from what the STP Attorney General uncovered but since these accusations have already been raised and pushed back due to lack of evidence OVER THERE, think about the reality of what the SEC would find years later at an office in the US.
3) I would be surprised if we ever hear the outcome due to lack of any evidence they come up with. We already know ERHE is not into PR's to prop the share price up.
4) Ironically as this may sound but this is a good time for this to come up. Get this out of the way before ERHE and its partners start communicating their drilling schedules followed by their oil discoveries and eventual proven reserves. At that point in time, I suspect ERHE to be in multiple $ share price and attracting the institutional investors along with courting buy-in/buy-out proposals. If news comes out two weeks from now of a Chinese company buying into ERHE at multiple dollars, the price will immediately surge to a narrow range of that offer if not more.
Although I am not personally condoning what I suspect did occur in past years regarding the rights ERHE eventually acquired, I also probably would not be invested in ERHE if they didn't have the multi-billionaire, Emeka Offor and his political contribution to the Nigerian president as the primary owner. This is the only way this minnow could have swum and grew into the potential it now has in the huge and powerful international oil business.
Good Luck to all,
Strategyone
I think this latest message by oilphant has significant meaning. Maybe the blank message is telling us that the Chinese just wrote a blank check to offer for the company....LMAO.
Have a good one everyone.
Yes, the never ending "Urban Legend" of ways to beat the big bad oil companies. I also got an email last week pertaining to boycotting XOM and got a good chuckle out of it, only because this urban legend is boycotting ERHE's rival...
Anyway, here is a link to the "urban legend" behind the email, and then a copy of the email I received:
http://urbanlegends.about.com/library/bl_gas_boycott_2006.htm
"GAS WAR - an idea that WILL work
This was originally sent by a retired Coca Cola executive. It came from one
of his engineer buddies who retired from Halliburton. It ' s worth your
consideration.
Join the resistance!!!! I hear we are going to hit close to $4.00 a gallon
by next summer and it might go higher!! Want gasoline prices to come down?
We need to take some intelligent, united action. Phillip Hollsworth offered
this good idea.
This makes MUCH MORE SENSE than the "don't buy gas on a certain day"
campaign that was going around last April or May! The oil companies just
laughed at that because they knew we wouldn't continue to "hurt" ourselves
by refusing to buy gas. It was more of an inconvenience to us than it was a
problem for them.
BUT, whoever thought of this idea, has come up with a plan that can really
work Please read on and join with us! By now you're probably thinking
gasoline priced at about $1.50 is super cheap. Me too! It is currently
$2.79 for regular unleaded in my town. Now that the oil companies and the
OPEC nations have conditioned us to think that the cost of a gallon of gas
is CHEAP at $1.50 - $1.75, we need to take aggressive action to teach them
that BUYERS control the
marketplace..... not sellers With the price of gasoline going up more each
day, we consumers need to take action. The only way we are going to see the
price of gas come down is if we hit someone in the pocketbook by not
purchasing their gas! And, we can do that WITHOUT hurting ourselves. How?
Since we all rely on our cars, we can't just stop buying gas. But we CAN
have an impact on gas prices i f we all act together to force a price war.
Here's the idea:
For the rest of this year, DON'T purchase ANY gasoline from the two biggest
companies (which now are one), EXXON and MOBIL. If they are not selling any
gas, they will be inclined to reduce their prices. If they reduce their
prices, the other companies will have to follow suit.
But to have an impact, we need to reach literally millions of Exxon and
Mobil gas buyers. It's really simple to do! Now, don't wimp out at this
point.... keep reading and I'll explain how simple it is to reach millions
of people.
I am sending this note to 30 people. If each of us sends it to at least ten
more (30 x 10 =3D 300) ... and those 300 send it to at least ten more (300 x
10 =3D 3,000)...and so on, by the time the message reaches the sixth group
of people, we will have reached over THREE MILLION consumers. If those three
million get excited and pass this on to ten friends each, then 30 million
people will have been contacted! If it goes one level further, you guessed
it..... THREE
>>>>HUNDRED MILLION >>>>PEOPLE!!!
Again, all you have to do is send this to 10 people. That's all. (If you
don't understand how we can reach 300 million and all you have to do is send
this to 10 people.... Well, let's face it, you just aren't a mathematician.
But I am, so trust me on this one.)
How long would all that take? If each of us sends this e-mail out to ten
more people within one day of receipt, all 300 MILLION people could
conceivably be contacted within the next 8 days!!!
I'll bet you didn't think you and I had that much potential, did you?
Acting together we can make a difference. If this makes sense to you, please
pass this message on. I suggest that we not buy from EXXON/MOBIL UNTIL THEY
LOWER THEIR PRICES TO THE $1.30 RANGE AND KEEP THEM DOWN.
THIS CAN REALLY WORK."
So by this article, CNOOC paid 2.3 Billion for a 45% stake in an estimated 1.1 billion barrels of oil in the field next to the JDZ!
I would say ERHE is highly undervalued at this point......
Have a great weekend all,
Strategyone
So by this article, CNOOC paid 2.3 Billion for a 45% stake in an estimated 1.1 billion barrels of oil in the field next to the JDZ!
I would say ERHE is highly undervalued at this point......
Have a great weekend all,
Strategyone
claudealain, I don't even know why my newly created message board was deleted....LOL. If you do find out, please let me know.
On a side note, Instruchmba has taken on the challenge of creating a new board for discussions of all JDZ/Nigeria/GOG/STP related oil stocks at:
http://www.investorshub.com/boards/board.asp?board_id=5564
Good luck to all,
Strategyone
Can anyone here confirm whether or not CONOIL paid their portion (20%) of the signature bonus due for block 4? This could be huge for ERHE. First, there would be 20% more to divide up to the remaining partners and second, CONOIL would be out of the picture on block 4. It is my understanding that Conoil defaulted on another signature payment in Nigeria.
Good luck all,
Strategyone
I understand and respect your decision. Thank you for posting a reason (which was valid). That makes for a better board.
Now, on to the JDZ/STP/GOG discussions.
Strategyone