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I'm afraid you might be right about the end of the year drop in price. We currently have negative momentum and prices tend to drop in Dec anyway. I’m bummed about this since a it looked like the stock would make a surge upward before the .22/share deal was announced and I was hoping it would reach old highs or even higher to open opportunities to cash out before the end of the year and take advantage of the low 15% long term capital gains tax that is set to expire this year. Of course, it may not have reached that high anyway within the time frame. Oh well...
$50 Mil?? AIM?? Good or Bad??
IMO, there are some positives and some negatives to the ERHC news this week. With a bear market and the announcement of a $50 Million petition filed with minimal PR info released, I think the uncertainty may keep the stock where it is or cause it to retreat even further. However the dual listing on the AIM is a positive note. OTCBB is one of the most unregulated exchanges out there. AIM is better regulated although not as much as the major stock exchanges. So this is like going from Single A baseball to Triple A baseball. We’re not in the majors yet, but the games are much better. So with a more positive market overall and Phase II drilling, an AIM listing could cause the stock to hit new highs. However, we will continue to on a rollercoaster at the mercy of market tones until the oil starts flowing in the form of revenue (which could take at least 5 years in the event oil is found in Phase II). IMO, Now is a great buying chance for those with money. However there is hope for those of us who missed the last peak. So the news of the $50 Million fund raiser and the AIM listing together are good unless you want to get out of the stock right now. So there is good and bad to this week's news.
There are real deals in play here. Sure this being a penny stock leaves the stock price open to manipulation. But I think the entire deal is on the up and up. We may not like management but the JDZ agreements are real. So the "Nigerian Stock" comment adds no value to the latest developments with ERHC.
Good point
Thanks. I didn't think of it that way. Sill the lack of news makes me uneasy. I'll stick in there. Maybe they know something we don't.
WTF !!!!
$50 Mil is what? An additional 230 Million shares? What are they trying to do? See how close to .01 we can go???!!!
The question now is should we cut and run with the little money we have left? Or should we stick it out and try to leave on a high note before these lame #$% run the company out of business. Geese looks like whoever that oily guy was, he must have been speaking the truth when he said ERHC is on it's way out. Why would a company who is healthy need to raise so much money with so little stock price? This is sorry!!!!
I'm wondering what the #$%^ is going on in Houston!!!
I hope they have a good explanation!!!
Official Drilling Results?
I’m confused about the drilling results. You said that official drilling results have not been released. However I read something that ERHC released regarding the drilling results that said that phase I drilling found biogenic methane gas only which does not mean there is no oil. It just means they did not find it in Phase I. You can even see this on their website by block descriptions. Can you explain what you mean by official drilling results? Do you think they are lying about what they found?
Posting a Question
What is up with the volume lately?
a) no one is putting in sell orders.
b) no one is putting in buy orders.
C) All the above. (No Buy orders and no Sell orders)
Just curious what everyone thinks. It seems we are all in the hold mode now until something major happens.
Okay…
What makes Phase II more risky than Phase I?
How many Phases are there anyway and what are the different goals?
Was Phase I just to drill down to the Gas Caps? If so, is Phase II to drill to the oil and actually take samples to test hydrocarbons?
ERHC just mentioned Phase I Drilling then Phase II drilling but I am unclear what they are drilling for in the multiple phases. I assumed they were going to drill to see what quality of Oil was down there in Phase I. I think everyone made that assumption since the word hydrocarbon was thrown around like baseball on a Sunday afternoon.
So if anyone has a schedule of proposed phases and what they are actually looking for in those phases, that would be great. Say one phase is to see if Gas is down there. Check. The next could be to see if there is oil while another could be to test the oil while another could be to see how deep the oil runs. What are the phases?
The biggest issue with ERHE is incomplete communications of phase objectives. They say things like drilling will start soon, next phase to begin in six months, results from drilling will be given soon. However noone here knew they were planing to stop at the top of the gas caps. So what are the objectives for Phase II? It could be to see how broad the gas caps are. Can we get some sort of expectation of what the testing criteria are for the various phases and what we are actually looking for in each phase?
Hopefully someone here can answer these questions for everyone.
Thanks
Thanks
When did ERHC announce there is no oil? Show us a link to where the announcement is? Being an investor in this stock, I would very much like to see that. The only thing ERHC has done is to say that the report of drilling results is coming out by such and such a date and then saying the Chinese are dragging their feet on it. Anyway, if there is no oil down there, then what are these reports about a 23 billion dollar Chinese – Nigerian oil refinery deal? Sounds like you are trying to drop the stock in order to buy more shares otherwise if it is such a bad deal, why waste your time writing on this board? I personally would like to see the stock go up unless I had some free funds available to buy.
I think you are right to say that the GOM would have cost implications except for one thing. ERHC will hide behind China and Nigeria to their advantage just like they are hiding behind China in regards to the Drilling results. With China, you’re talking about the country that gives you lead paint in Walmart toys and they are going to be concerned about following new international safty standards? Come on!!! Erhc is in a perfect deal. They can hide behind the Chinese and say they cannot do anything with this because of the contract!!
What does $23 Billion oil refinery investment mean? Since this is a deal between China and Nigeria, does it mean the oil reports were most favorable? If Erhc makes mention of this deal that China has, does that add reasonable expectation that the reports from the drilling show there is oil with favorable hydrocarbons in them “thar” JDZ drilling sites. Is this something that could push the stock up to the $6 to $10 dollar point? If this is the catalyst for a surge in the stock, it would be great!! IT would be even better in 2010, since we are still under the bush era long term capital gains of 15% which is set to expire in 2011. Anyway, this was just a question to those who know the oil business.
Thanks
Question?
What is up with the stock today. There appears to be volume but no trades. Not up or down. Is there trading today? I know ERHC mentioned that there would be a freeze period for two weeks when they moved to AIM. Has that started? Does anyone know what is up?
Humm. Doesn’t the 15% long term capital gains tax rate expire this year? If so, maybe that along with this is a good indicator. Take the huge profits while the rate is low. So maybe you are on to something.
Well in my prior post, I was accused of causing panic to lower the price. However, what I said would cause the opposite. If you believed my theory you would buy instead of sell which would be the opposite of what the responder was saying. What I said was that it looks like the stock goes up and down in a predictable manor. I suspected a pump and dump scenario, and I wanted to see what some of the more experienced investors thought of this. In my post, I got some of my facts skewed because I couldn’t find articles that I read nearly 2 years ago, and I am new to investing stocks so terms and trading platforms run together for me. So let me stick to what I do see. From what I see the norm price is around .5 with the pump scenario probably being anything over .7. In my theory I suspected that the share holders are all safe to sell shares at the top of an upswing (pump). The fear that the news would be released soon keeps most of us from selling at this point so the profit takers have no competition. I don’t think there will be any concrete positive news released at this time because of profit taking. However when the stock goes down, investors are quietly snapping stocks back in their portfolios at a great value. It is at that time that I suspect once the upswing starts again there would be another pump coming or the long awaited news would coincidently be released. To answer your question about keeping the stock price low, there is potential for greater profits from the volatility of the stock. When the price is up investors can sell for a handsome profit, and when the stock is low investors buy at a great deal. The people, who are here to just simply hold the stock without a buy or sell, provide the base for the stock and a little stability. The Ideal situation is to disgruntle the maximum hold positions as possible before a news release so that the price would drop and the maximum shares can be snapped up. That being said, low values in the stock would be where I would expect the release of drilling results. We have seen vague positive news followed by upswings in price with a spike in volume where the price goes slowly back to norm. We have seen vague negative news with a drop in stock price with the stock price slowly going back to norm. Wash, Rinse and repeat. I’ve been in this stock since June of 2008 and I fill I’m stuck in the spin cycle. These fluctuations in stock price along with the fluctuation in news could be all chance. However I would like feedback from others about what they think. I’m looking to take profit at the next upswing. If I can get some extra money together, I may buy a few more shares if they get down to .1
“Pump and Dump”
I’m beginning to wonder if all the news is intended to keep the stock at a volatile low. When I started looking at the stock, ERHE was bragging about how drilling would come soon (In the next couple of months). Over a year later drilling finally started. Around that time they said their goal was to get the stock up above 2 dollars and move it off the pink sheets to a more reputable listing. That never happened. The stock goes up and then drops maintaining a regular price around 50 - 60. There is always the threat that the news regarding the JDZ will break soon. When it doesn't, there is always an excuse. The constant threat keeps certain people in the game without the thought to sell in order to take a profit. Is there anything that would benefit a company to hold their stock at a certain level? Is this something that everyone here should take notice? I'm definitely looking for the next time the stock hits .70. If I sell, I can always buy back in when it goes back to normal. I don't think the news will break when the stock is at a high. In this case with the Long Term Capital Gains tax going back to 28%, there is no reason to hold when the stock is high. This is just my thought on this.
Thanks for the info. I agree with you 100%. The only way the price is going up is if oil amounts are somehow proven. Probably will take years like you said. However if the findings are released tomorrow that would make something happen. That said, a price jump for the sake of Gap seemed highly unlikely. Kind of like wishing for 1.25 per share before you blow your birthday candles out. That's why I was trying to nail down what exactly the other poster was saying about Gap. So it looks like all that Gap talk was just a bunch of hot air and some peter pan ferry dust.
What then is going to trigger the next leg of the stock price? The way you worded it ERHE was going to announce something or start something to raise the stock. However the gap sounds like a stock price range. So something needs to trigger the next gap (Price range). right? What is that?
What is the Measuring Gap?
Is ERHE one of the small players that you alluded to? I believe ERHE was the the player who allowed some of the larger players in blocks 2,3 & 4 under the agreement the larger players would bear the development costs. So I don't think ERHE has any risk associated with development costs. Correct me if I am wrong.
What kind of hard news will it take to "shake things up” with the Stock Price? I’ve seen the charts about the unrealized barrels. EHRE has come out and said they have drilled 5 deep wells in four months and hit oil. Yet the Stock price is stuck in .60 - .69 range. There has been speculation that when the rigs move into place the price will rise. That didn’t happen. When they find oil, it would go up. When they find oil in multiple wells, it would go up and that didn’t happen. Now there are rumors of hard news? What kind of hard news would be something that would affect the stock price in a positive way? More specifically affect the valuation of the oil in the area? Is the only thing that would do this, actually producing sellable product?
I have a Question. If Sinopec is drilling now, and they could hit oil in as little as one month, what is the deal with the 2012 date. I read a post on Friday about not seeing real results from the drilling until 2012. I was thinking about this and wanted to ask. However I could not find the earlier post. Could someone explain what all this means. They don't plan to start selling oil or they cannot start selling oil until 2012? I thought if they hit oil they would begin pumping it right out. What goes in the two years between hitting oil and selling it?
How might that affect the big picture of ERHE stock?
What does August 20,2009 drilling really mean to the shareholder?
Drilling starts around August 20, 2009. What does that mean? Let me explain my question so that anyone who knows about deep sea drilling can share with the rest of us.
When they say drilling starts around August 20, 2009, does that mean that the rig will be set in place and active?
Or
Does that mean that the rig will be on site around August 20 but there is setup?
How much setup before actual drilling?
I guess the bottom line question is, does anyone know the timeframe/timeline from the time a deep-sea rig is on site until they actually reach Oil depth with drilling? Are we talking one month or 20 months? What’s the timeline of setting up, breaking ground on ocean bottom, drilling to Oil depths?
I know there are several factors like the depth of the water at the site of the drilling and the actual depth of the oil; however there should be an average time frame that we can expect. What is it?