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This is what I could find:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170801076
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170796724
The second bidder who dropped out didn't specify if the reason was the ICE, but that's what we think was the reason.
I disagree with you that a PSC on Block 4 would've resulted in no bidding of Block 4. The tax was on Block 11, and Total didn't want to pay it because they're not in Block 11, so to force Total's hand STP put the block out for bid.
In any event, there was only one bidder left, making it the defacto winner, which STP could easily announce as the winner (since there was no other bidder), yet it doesn't do so, because it feels this bidder doesn't have the financial resources necessary.
The ICE worked in that Shell or Kosmos would certainly want to bid on the block if that's where the source oil is, but clearly they didn't because they were deterred by the ICE = international caveat emptor.
Krombacher
Some months ago, didn't you also acknowledge in a conversation with me on i-hub the language in the 400 page documents which implied a stealth PSC. Do I need to pull up those posts?
A stealth PSC fits very well into the narrative that is produced from the condominium theory that secrecy and gag orders must be upheld, and the 400 page document alludes to one existing.
The stealth PSC also makes sense when we consider that Sao Tome didn't wait until Sept to get the block back but instead engaged in a bidding process to give the block to someone else, a bidding process that resulted in two bidders. One bidder dropped out after seeing the international caveat emptor, and the other bidder is not financially sound enough to be declared the winner of the bid (as we have learned from Sao Tomean sources).
If there were no stealth PSC, then the license wouldn't have been extended past Sept and Sao Tome wouldn't have resorted to a bidding process and instead would've waited to pick the block up in Sept instead.
The bidding process on block 4 was initiated only to pay block 11 taxes which Total doesn't want to pay because block 11 has nothing to do with Total.
Krombacher
F you ssc.
I don't lie. And despite your disrespectful attitude toward me, I still got for you the 400 page document.
I NEVER said and nor will you find any link where I've said that the done deal in the 400 pages is a buy out, although we can't rule that out since it's redacted. And ultimately, the assignment agreement will result in a buy out because the drop box link has the JDZ and we know Total has adjacent property in the JDZ.
I HAVE NEVER LIED.
As usual, I can't wait until shorts get their asses handed to them. I will do everything in my power to make that happen.
Krombacher
The true indicator is the price shorts can cover at.
They have yet to cover...
They can probably cover some shares at a penny or two but that risks a short squeeze, so they won't do that.
So they'll end up covering in the dollars on short seller doomsday when the gag order is finally lifted.
Meanwhile longs won't sell because the share price is the best SPV ever.
Krombacher
Starts on pdf page 204
And ends with the page signed by both parties on page 233, and both parties also initialed all the pages.
It's heavily redacted. But it's a done deal given the signatures.
https://search.txcourts.gov/SearchMedia.aspx?MediaVersionID=528ce4db-8d5c-4bd0-a106-e8ae32ef7211&coa=coa14&DT=Brief&MediaID=1e7a9141-7fe1-44e4-bb39-243400946754
Krombacher
I was clear in using the words *I believe*
You're free to believe what you want.
The share price is the best SPV.
I deal in facts. You have provided no evidence that the done deal with Total isn't done. But the 400 pages is a fact. Years old contract or not... condominium theory explains why it's so old and why a gag is still necessary.
Krombacher
But I am not wrong, only a bit late.
It's like this:
Let's say you want to buy a condominium building which already has owners in it. And you plan to then add all manner of infrastructure to it and make this old building into a new development.
How would you go about it? Would you announce to everyone in the building your intentions to buy every unit in the building? Of course not. If you announced that then surely there would be one or two owners in the building who would hold out and ask ten times the market price for their unit, because they know you need the whole building and not simply 90% of the building.
Well, it's the same thing with Total Energies. They need to have the secrecy of a gag order as they pick up a number of blocks both in the JDZ and EEZ. We now know from kingpindg's report that block 4 is not only source oil, but it appears that the oil also converges towards the JDZ. We also know Total's intent to do an area wide development.
We know that Total picked up JDZ blocks adjacent to ERHC's JDZ blocks as well.
And we know that xrimlinger.com took down its valuation of Oranto's block 3. I *believe* Total grabbed that block as it continues to grab all the blocks in the "condominium". The remaining block(s) Total is interested in probably need further negotiation with the Chinese who could try to enter into a "hold out" scenario as described with my condominium analogy.
But once Total gets all of its blocks in secrecy, an announcement will then be made... and longs are very patient. Sorry if shorts are not and act foolishly in the short term.
We're in it for the long game and we're in it to win it.
There's no evidence that you've ever presented that somehow proves that the done deal between Total and Erhc in the 400 page document is now void. Without such evidence, we can only assume that it is still in play.
Krombacher
As a billionaire and righteous man, Emeka Offor has and will discover that giving to the poor of Africa is edifying. After all, Offor can't take the money with him after he dies.
But also what is satisfying when it comes to righteousness is vanquishing evil.
Financially destroying the shorts of ERHC who resort to deception, propaganda, and manipulation deserve what they'll get.
Offor would be proud to learn that I've locked the shorts in, like sitting ducks, ripe to be vanquished.
This will happen.
Krombacher
ssc,
As you wish, believe whatever you want. You're a free man.
Soon shorts will lose it all... and that will be that.
Krombacher
This was all part of my brilliant plan... to milk the shorts to the point that their margin call price falls to a point where no long would even bother to sell while creating a scenario where the shorts can't even offer a penny or two without triggering a short squeeze.
This effectively traps the short sellers forcing them to wait it out until their doomsday, with no way out.
Not even a long with credit card debt and desperate for cash would bother to sell at $.000001.
So there'll be no defections among the longs... the share price is better than an SPV.
Are there longs willing to sell for a penny or two? Absolutely. But can shorts offer that and not trigger a short squeeze? Nope. So it won't happen. Longs won't sell and shorts won't cover... until the shorts' doomsday.
And that's exactly how I want it.
The shorts simply got outsmarted. But in fairness, I did give Day One warnings.
Krombacher
I actually agree with you.
It says the share price is meaningless and ridiculous.
We determined some years ago that even the corporate shell of a bankrupt ERHC is worth at least $300k.
That's why shorts should not rely on this false sense of confidence of a low share price.
The low share price is just short seller games, but the underlying value is in the dollars.
Block 4 seems to be the source of oil to the other blocks. That's a fact.
The international caveat emptor which exerts ERHC'S claim on Block 4 is a fact.
The Total deal in the 400 page document (and there's yet to be any information that says it's not in effect) is a fact.
The gag order mentioned in the 400 page document, in the correspondence from ERHC to the SEC, and the SEC's acknowledgement of it is a fact.
But, yeah, let's do a character assassination of me and somehow bogusly tie me to toxic debt... instead of attacking the argument. That'll work.
Not.
Krombacher
Again, you are not attacking the argument at all nor are you affecting the end outcome, which results in the financial demise of short sellers.
You talk a lot but you say nothing.
I have not lied about anything.
Sorry you don't understand what a lie is.
Hint: claiming you're not a short seller in ERHC is a lie... and try not to use qualifiers like "billions of shares"
And none of those attacks on my character actually attacks the argument or changes the outcome.
Krombacher
If short sellers don't want to have an exit out of this investment by disincentivizing longs from selling with a $.000001 share price, one can only logically conclude that shorts have decided to wait for the final outcome.
That final outcome, I think and believe, will be the short sellers' broker confiscating all their assets in order to use them to buy and deliver TTE shares to the accounts of the longs.
It will simply happen one morning as a surprise.
But the alternative for shorts isn't much better, which is to offer a penny or two at the risk of catalyzing a massive short squeeze into the dollars.
So the shorts have de facto chosen the default fate... and they have to live with that. Their only hope is that somehow the above doesn't come to pass. But with oil apparently source flowing out of block 4 based on the article that kingpindg posted tells me that the shorts are wishful thinking away a doomsday scenario which is more probable than they would like to believe.
Longs have nothing to lose by holding on, and guaranteed to lose if they sell at $.000001.
So they will hold on.
Krombacher
You got nothing but the share price, which is a total false sense of security for short sellers. And currently does nothing to help shorts cover because no long would have an incentive to sell at this price.
If anything, the share price works to the favor of longs because with no longs selling just means a more volatile short squeeze eventually.
Attack the argument...try.
You can't.
Krombacher
Very simply, just because something hasn't happened yet, does not mean it won't still happen eventually.
That's the logical flaw in your point of view.
So yes, you lost the debate.
Krombacher
I understand it may feel good for you to bash someone who is long... maybe it takes the sting out of the impending financial doom for the shorts, but it won't change the outcome.
A debate is always lost when one makes an ad hominem attack on the opponent's character instead of tackling the argument which you have yet to do.
If Sao Tome could've had the block simply by waiting to an expiration date in Sept, it would have. Now it risks a battle in the London court of arbitration by tortiously interfering in ERHC efforts as the international caveat emptor implies. The governing body determining who gets what block is the London Court of Arbitration not Sao Tome as indicated in the contract.
But ask yourself why didn't Sao Tome just wait a few months and grab the block? Could be that the Total done deal in the 400 page document extended the license so Sept is now meaningless?
That's the argument you have to tackle. But go ahead and keep losing the debate by attacking me.
Krombacher
Name calling, false allegations, and whining is not going to change the fate of short sellers in this stock.
Period.
That's the reality that short sellers are faced with. Like it or not.
Krombacher
I'm not trying to create a market for my 400 million shares because I already know the end game.
I'm just curious about the middle game that shorts think they're playing.
I'm happy to wait until the end when I become a billionaire on this stock, but are shorts also willing to wait for their fate?
At five zeros, apparently they don't want anyone to sell. So I guess, I answered my own question. They just want to wait for their ultimate financial demise.
What else can they do? Trying to escape at a penny or two a share will surely end in a short squeeze and they're scared to death of that... but yet they don't appear scared enough for the inevitable that will happen.
The more you falsely allege that I'm a liar, the more I'm going to post. You're the one who broke the truce.
Krombacher
Why would anyone be incentivized to sell at those prices when the commission costs them more?
Might as well hold the shares... right?
If this is not traded in Canada then how do you explain that the filer of the 13G has a Canadian address?
Krombacher
Agreed.
I think the shorts should keep the price at 5 zeros so there's no chance a long would be tempted to sell and allow shorts to cover, buying time until the inevitable happens as the EEZ gets hotter and hotter by the month and we get Total news on what we already know from the 400 page document of a done deal by Total and a gag order still ongoing.
On that day, shorts will be obliterated.
So the fewer longs we tempt to sell in the interim the better and 5 zeros should accomplish that desire.
I don't even have to worry about a September deadline because 5 zeros will have the intended effect of giving no motivation whatsoever for anyone to sell.
All good
Krombacher
5 zeros, 6 zeros, it doesn't matter.
The evidence that it didn't matter is a volume of zero and no one scared enough by 5 zeros to sell their shares.
In fact, you really have to wonder what the strategy of 5 zeros is. After all, even if a long is desperate for money and eager to sell, do you really think they're going to sell at 5 zeros where the commission on the trade likely eats up any proceeds they would get?
It's a stupid strategy on the part of short sellers... but they are free to play all the share price games to their heart's content because in the end, all that matters is the price they cover at.
If they were super smart, shorts would offer a penny or two and see if they can grab any takers. But no, they can't even do that because offering a penny or two is a short squeeze catastrophe into the dollars.
So I guess, the only thing they can do is 5 zeros after all, in hopes that someone, anyone would be scared... and yet a volume of zero suggests that no one is.
So... we wait until Total hands them their fate... which is for the shorts to lose all the money they have.
I'm just happy the shorts got milked while the milking could still be had for a pittance. That will prove to be one of the great accomplishments by longs.
Krombacher
I think it's more than that.
I think you're inclined, perhaps, to dismiss any possible involvement by Total because maybe you're inclined to believe that they're out.
I'm inclined to believe that they're still in and that the gag is still in place.
I believe this not because of wishful thinking, but because of the logic that says that if all Sao Tome had to do was wait until Sept to grab the block back, then that's exactly what they would've done.
Total's involvement very likely extended the block license expiration and that's why Sao Tome chose not to wait and instead started a bidding process on a block which is under an international caveat emptor.
Until that logic is resolved to the contrary, my belief doesn't change.
But I agree with you that only time will tell.
Krombacher
I would speculate a little further...
Perhaps, Total balked at a tax on an unrelated and already sold block 11 and didn't feel the need to pay it, because it has nothing to do with block 4, where it's interested.
So to get Total's attention, Sao Tome threatens to bid away block 4 forcing ERHC to issue an international caveat emptor warning all other bidders.
The deadline for the bid was January 20th.
Here we are in March and no one has trumpeted a victory on the block.
Could it be that the international carat emptor had the intended effect of repelling bidders? Wouldn't Kosmos who fought so hard be one of those victorious bidders by attempting to bribe Sao Tome allegedly again?
Yet no news.
Or maybe, Total went ahead and paid the tax bill... and continues its secrecy.
Krombacher
The count down is certainly fun.
But there's some logic that needs to be reconciled.
If all that was needed for Sao Tome to reclaim block 4 was to wait until Sept, then why didn't they do that instead of risking a legal battle where ERHC could legitimately claim that a block 4 bidding process hampers ERHC's ability to move forward? ERHC issued an "international caveat emptor" which is a legal document warning other bidders that ERHC has a claim on the block
I'm guessing the reason Sao Tome didn't wait is that they couldn't wait because the license was already extended previously due to the Total deal in the 400 page document.
And if there's an extension to the license, then the Sept deadline is meaningless.
You might argue that a PSC is needed, but I don't see specific language that says that it is. Oranto got an extension without a PSC on its block.
And we don't know if there's a stealth PSC anyway.
But despite the logic above, I'm still hopeful that we'll see an end to this by the end of Sept too.
Krombacher
You got it. (You're asking me not to post)
So no more posts from you then? Agreed?
Krombacher
And yet despite all your bloviating nonsense, accusations, 5 D propaganda campaign, no one is selling to you.
How about we simply agree to wait until September 30th or much sooner, and let the chips fall where they may? ... and if you're covering bring dollars. And if you don't want to, that's fine because shorts will be forced to do so regardless.
September is not far.
There's no other plan of action available at this point. Do you have a suggestion?
Isn't it time shorts begin accepting their fate?
Krombacher
In a game of longs vs shorts, it's important to know who the villagers are and who the werewolves are.
It wasn't until ERHC shareholders united did we become the werewolves.
Shorts will be financially slaughtered.
https://www.facebook.com/reel/401255735810026?mibextid=9drbnH&s=yWDuG2&fs=e
Krombacher
I'm very confident.
Soon the buying will stop as well and the shorts will likely drop the price to $.000001 and keep it there.
That's ok. We fully expect that... shortly after that the event we've all been waiting for will occur.
I'm grateful for the shorts for selling as many shares as they did thinking they had some secret "intel" with regard to Sao Tome and block 4. You could tell from their posts asking "where is the Total deal"? They were anticipating that any deal was sunk.
That misinformation by Sao Tome presented us with a tremendous buying opportunity.
Now it's just sit back and wait.
We're very very very very very confident.
Life is good.
Krombacher
The SPV never got fully executed by all parties, hence we are not moving forward with the SPV.
The developments in the EEZ satisfy us enough that we no longer think an SPV is necessary.
Without an SPV, the Queen will not participate. But we feel a Queen is no longer necessary as well.
Thank you
Krombacher
Don't worry....I doubt you will have to wait as long as Sept 2024... everything will happen much sooner than that.
But yes, some patience is required.
I want the shorts milked of their shares, to "perfection" ... and then slam them when the time comes.
Krombacher
As the Chief Short Seller's web of deceit spun wider, a new player emerged on the scene, a maverick investor known simply as Krombacher. Unlike the shadowy Chief, Krombacher was a beacon of transparency and integrity. His approach to investing was unconventional, yet deeply rooted in principles of justice and fairness.
Krombacher's influence extended across continents, reaching the shores of Africa where he inspired a wave of new investors. These African investors, untested in the ruthless world of high finance, brought with them a fresh perspective and an unwavering belief in the power of collective action.
Under Krombacher's guidance, everyday investors around the world began to unite. They shared a common goal: to expose the Chief's duplicity and restore balance to the financial universe. This diverse group of investors, connected by their faith in a higher purpose, began to unravel the Chief's schemes.
Armed with the light of truth and a steadfast commitment to their cause, these united investors embarked on a mission. They poured their resources into the very stocks the Chief and his minions were shorting. Their strategy was simple but powerful: by investing heavily and holding onto their shares, they countered the artificial plummeting of stock prices.
As the Chief's minions continued their frenzied selling, Krombacher and his alliance held firm. They never lost faith in the intrinsic value of the companies they invested in, in themselves, and in the guiding hand of a higher power.
The turning point came when the Chief, confident in his impending victory, found himself outmaneuvered. The stocks he had bet against began to rise, fueled by the relentless optimism and strategic buying of Krombacher's alliance.
In an astonishing reversal of fortune, the stock prices soared, propelled by positive sentiment and a renewed faith in the market's integrity. The Chief's positions unraveled rapidly, leading to his financial downfall.
Krombacher and his coalition emerged victorious. Their unwavering faith and collective action not only exposed the Chief's treachery but also brought about justice in a realm often marred by greed and manipulation. Many of these investors, once ordinary individuals, became millionaires and billionaires, not just in wealth but in spirit.
Their triumph was a testament to the power of unity, integrity, and the belief that even in the darkest corners of the financial world, light can prevail over darkness. The legend of Krombacher and his alliance spread far and wide, inspiring generations of investors to hold true to their values and stand together against injustice.
Krombacher
In the bustling world of online finance, there lurked a figure known among whispers as the "Chief Short Seller." Operating from the shadows of digital forums, he was a master of the stock market's darker arts. His specialty: short selling, a high-risk strategy betting on a stock's decline.
The Chief wasn't just a lone wolf. He had an army of minions, other short sellers he recruited from the depths of the internet. These unsuspecting traders, lured by promises of quick riches, didn't realize they were mere pawns in his grand scheme.
His plan was simple yet cunning. He would rally his minions to short sell a particular stock, ERHE, creating a downward spiral in its price. As panic ensued and the stock plummeted, the online communities buzzed with fear and speculation, all orchestrated by the Chief.
But here's where the Chief's true genius—or rather, his treachery—shone. Just when his minions were deep in the game, selling more and more shares to drive the price down, the Chief would execute his masterstroke. In secret, he would begin covering his short positions by buying the very stocks his minions were selling.
The minions, unaware of their leader's betrayal, continued their frenzied selling, driving the prices even lower. But as they sold, the Chief bought, and bought, and bought. By the time the minions realized what was happening, it was too late.
By September 2024, the stock's price began to recover, skyrocketing upwards. The Chief, having bought shares at rock-bottom prices, made a fortune. His minions, caught in their own trap, faced devastating losses.
In the end, the Chief Short Seller vanished as mysteriously as he appeared, leaving behind a trail of financial ruin and a lesson in the perils of unchecked greed. His minions, once eager players in a high-stakes game, were left to ponder the cost of following a shadow.
Krombacher
I want to know why the chief short seller of Erhc fraudulently enticed oblivious noobie short sellers into shorting ERHE when he darn well knew about the dangers of shorting this stock and that in fact ERHC is a real company with revenues as evidenced by the PPP loan filing.
Absolutely despicable...
Krombacher
xrimlinger.com was the consultant given access to Oranto's data rooms to do the valuation analysis, so I'll trust that.
Krombacher
ND9 and kingpindg,
The information that you're discussing dates back before three key events:
1) Erhc's 8k - the 8k, the way I read it, is analogous to when you do a title search on some real estate that you intend to buy and then discover that the real estate is titled to someone other than the seller. ERHC issued an "international caveat emptor" which states that any buyer better beware that block 4 is "titled" to ERHC Energy and any attempt to acquire it or drill on it would have the consequence that the "buyer" would have to disgorge any oil profits back to ERHC.
Sure there may have been 3 companies interested prior to this international caveat emptor, but I am sure that there are no companies interested now, or if they are then they are quite foolish to want to enter into block 4, do all the hard work to drill, only to lose the fruits of their labor in litigation to ERHC.
Furthermore, we know that the contract signed between ERHC and Sao Tome on Block 4 falls not under the jurisdiction of the Sao Tomean govt but under the jurisdiction of the London Court of Arbitration as written in the contract itself. In this court, both ERHC and Total have won victories and are familiar with that court.
I seriously doubt that Sao Tome can confiscate the block on the basis of tax law it passed after the fact and after the contract was signed and taxes that may be on an unrelated block.
2) Shell entered into 3 blocks in the EEZ once again confirming the success of Jaca-1. I find it no coincidence that STP suddenly values block 4 now when it could have easily waited until Sept 2024 and scooped up the block if no one was interested in the EEZ. If there were no interest in Block 4, waiting a few months would've guaranteed STP having block 4 returned to it. Instead, STP pulls this stunt which could send this block years into litigation with ERHC/Total handily winning the case in the London Court of Arbitration.
I mean how stupid is that when all they had to do was wait until Sept 2024. But clearly, ERHC already had Total, and so waiting until Sept 2024 was not an option so STP had to resort to this riskier decision of grabbing block 4 now.
3) xrimlinger.com took down the advertising which valued Oranto's block 3 which is adjacent to block 4. That very likely means that someone paid the price Oranto was asking for (or near to it). That price along with Oranto's JDZ asset incidentally values ERHC at $1 a share. It could be very possible that Total is involved in the Oranto purchase and that may have been the last of the conditions requiring satisfying for Total to make an ERHC block 3 and block 4 announcement. Shell didn't announce until it had secured all three blocks, so maybe Total was waiting to secure these two blocks before announcing as well. Note that Total already has a block in the EEZ.
The above 3 events makes what you're currently discussing obsolete and old news... and so to answer your question more succinctly: I'm not worried in the least about it.
We are golden as far as I'm concerned.
Krombacher
I'm not aware of any problem.
Well... except that short sellers have a major problem where they have to prop down the share price and somehow succeed at an unsustainable strategy. They're really dumb, man.
Because, the signed done deal is in plain sight in the 400 page legal documents as is the gag order in the communications between ERHC and the SEC.
So I'm not seeing any problem. Do you mean Sao Tome's desire to extract taxes after the fact? That's par for the course in these countries. I don't see a problem there that's insurmountable.
Or do you mean the share price, lol? This is an illiquid stock not purchasable in the United States ... I am not and never have been worried about the stupid share price which the chief short seller keeps whining about.
Do I care about the integrity of financial markets when $40 trades aren't recorded properly? Absolutely. But my concern isn't the share price, it's keeping the integrity of the markets and quotation system.
But in the end, none of that matters because the shorts' doom was sealed long ago per my Day One warnings to them.
So I don't know what the problem is. I'm happy to see $8 between now and Sept... and I'm certain we will see it... probably even higher when you consider the short squeeze that's bound to happen and is INEVITABLE.
It's ok if you don't want to get that and accept that and to foolishly cling to a bullshit share price theory without trying to comprehend share value. But then that's your problem and your undoing.
Krombacher
If Total likely bought Oranto's block 3, then they most likely paid the price or near the price that Oranto was asking for as published at the time on xrimlinger.com before the block was removed from that website and no longer offered.
That price equates to $1 a share for ERHC Energy.
If Total's offer is for $1 a share, the share price with the short squeeze effect will easily surpass $8 a share.
Selling for 10 cents or less a share would be insane foolishness that no long should undertake.
Krombacher
My reading of the old 1990s with STP-ANP contract has me understanding that simply signing a producing partner will automatically extend the contract. So they don't have to be "producing oil" to get the extension. They just have to present a partner.
It's my "knowledgeable belief" that Total has purchased Oranto's neighboring block 3 as evidenced by the block's removal from the xrimlinger.com site and Total did so simultaneously with the purchase of ERHC's assets.
All of these activities by Total likely happened AFTER the issues with the Sao Tomean tax authorities were publicized.
"We" reached out to Sao Tome about ERHC's 8-k in their version of a freedom of info request and they have not responded in weeks when they used to be more responsive before.
This silence leads to me to believe that we're about to get a Total announcement followed by an amazing short squeeze that no one has ever experienced before.
And I don't need the share price to tell me that because soon it will be screaming to me that.
Krombacher