Again, I talked to the guy who took over the abandoned company. The due diligence to see if there are any long tailed liabilities could take another year to see if a r/m is even possible. Delinquent filings would be pretty low on the list. Unreported debt, etc would be more significant right now.


Depending on what you have, I'd just let it sit. If you have 1MM, I might then consider dumping slowly, but if it is only a couple of hundred thousand shares, what's the point?

AIVI's former owners abandoned the company. Not sure what is left on either the asset side, or liability side. Could be another year before we know.

About all most could do is watch to see if BG abandons his latest project.

As I see it, I have two choice, slowly sell at a gain when able, which is infrequent due to lack of liquidity, or see what BG due diligence comes up with.

They need $40 oil. That about covers their FPSO. Fortunately most of their debt is owed indirectly to their CEO, so they have a chance. But this one is going to be touch and go. A risky proposition currently.

November 10th Earnings and Conference Call.

Ho Hum, just another 500MM barrels of oil potentially.

http://seekingalpha.com/pr/14873856-erin-energy-provides-operational-updates

What's everyone's earnings estimate for Q3?

Anyone left here?

I'm thinking they gross about $40MM.

Nothing to say. Just waiting. Laffy at the volume in terms of market cap however.

Wow, a smidge under $24 of market cap moves today.

I like candy bars for dessert!

Winning!

We'd be looking at $30ish premium to brent pricing for this in my opinion. They make money anywhere over $40 net, and their net is premium to brent less royalties which are included in the net.

The trade cost me $1.67, and I'll get a rebate due to the way I routed it. It executed immediately, but I directed it to NITE. So you're correct, $1.67 is very expensive as a percentage, and significantly more than I would normally pay.

I bought 999 shares because I had an odd number of AIVI in my portfolio. I'm not sure what the big deal is.

A million shares?

http://www.erinenergy.com/investors/press-releases/press-release-details/2015/Erin-Energy-Announces-Second-Quarter-2015-Results/default.aspx

Here we go. What's everyone think? Nongolfer? Nongolfer? Laffy.

Earnings after close 8/10, conference call 8/11. At least one lift will be booked Q2.

This gives whoever if left an idea about how long we could potentially expect to trade sideways:

http://www.erinenergy.com/files/doc_presentations/Erin-Energy-Corporation.pdf

Not really. It's back NITE, and maybe two retail traders.

Just put in an order to buy one share at a buck, it executed for .1195.

I think someone is playing games this morning.

We've been here before. Here we seem to be again.

Still here. Laffy.

Just curios, so I tried to get a small sale to fill. 31K @ .20 AON. Nothing. I know the AON will be hidden to almost everyone except L3 and MM's, but was curious who exactly is looking. I'll leave it GFD.

Well, we seem have gotten through that. Amazing that the hedge fund and law firm do not see that by all appearances Mr. Lawall is very popular with Democratic Presidents and Attorney Generals.

Yup, I'm still wondering. I'm not unhappy, but I am wondering as I'm a naturally curious guy.

Not sure about that. It's possible MM's hold a lot of shares after the last several weeks of trading.

Hedge funds guys and Seeking Alpha had fun today. I tried to sell puts, I tried to buy cheap calls. I finally just bought more shares. Pretty uneven and unfair playing field.

Liquidity is a good thing. In the case of AIVI, any liquidity, albeit small, is a good thing.

Having said that, I'm not buying more. Is anyone else? I put in a small order today for 19K shares, but my bid was .045. Just to see if the large size would smoke out a seller. Pretty unlikely order to fill.

The .16 sale I thought was someone on here. 250 shares I think. Just like the one time I bought some at .33 just for the heck of it.

But seriously, how many shares in the last two weeks? 400K. 400K at a dime is hardly enough for a significant promoter I wouldn't think.

Who knows? No one on here, including me. But I don't disagree. I can't remember the last time this many shares have traded. But I also realize it is a very, very small amount of market cap.

But someone is selling. And if I had to guess, I'm guessing some amount of this is still NITE. And the other two mm's who are always active on low priced risky penny stocks.

Could be a lot of things. Could be a guy like me who just decided this was worth 100K shares for as low as he could get it.

Look, I'm long like everyone else here, and I know some of y'all think I'm negative, but I try to be realistic. It's a miniscule amount of dollars being traded. If it keeps up for several weeks, then maybe I'll start to pay attention.

I hope you're right. I hope the company is trying to buy back all the shares floating around. But I just don't think there is enough of a consistent pattern to even speculate about that scenario yet.

Again, I'm long, but I won't defend a company that won't communicate with shareholders. I won't call a couple of days of heavier volume a pattern. Hell, to be perfectly honest, a couple of weeks ago if 100 shares moved, we would have had to call that "heavier" volume as compared to no volume. Which is what it was. And still might be. Can't predict the future.

I took a stab at this one. Without a lot of research for me. In any event, with respect to the preferred shares and all in costs, which were the two things that caught my attention immediately I emailed the boys and girls at Banro. Their response is as follows:

Sir,

Thank you for your inquiry.
At the present time, our all in cost is about $100 higher than our all-in sustaining cost metric. As Namoya continues its ramp up and enters commercial production, the per ounce amount will decrease as a result of the increased production and sales profile from two mines.

With respect to other metals, there is generally some silver content in the Namoya mining operation.

The preferred shares were part of a financing, and cannot be purchased on the markets.

Please do not hesitate to contact us again, if you require further information.

Yes, I think it is nothing. It could be something, but probably not. It could also be NITE at this low level. I took a look at level 2 again this morning. The total market cap bid is incredibly small. The bids today are only setting a floor to .055.

I've looked everyday that there have been trades, and not one day has it even approached 100K in dollar value.

Now if shares keep moving every day, that might be something more. But we're only talking in terms of thousands of dollars.

I'm long. Like you. But I'm also a realist.

I'm long. But seriously, 60K shares at .07 is $4,200. Hardly anything to get excited at.

Now if we continue to have shares traded on a daily bass, that's a sign. Predicated on market cap. I could see $4,200 to $10K a day maybe ebeing something. But it could also be NITE playing.

Over 7200 BOD @ Oyo 8. No word on stabilized flow rate. Oyo 7 by end of June. Kase said potential partners were approaching them, some large.

A matter of weeks has turned in to a bit longer.

I'm still long, but managing expectations and message has never been a strength of their PR and IR strategy. They do tend to overpromise and underdeliver with respect to timeline.

Here we go.

I hope they do not prematurely announce this, and then get a delay. This has become all to predictable. I'd rather they wait until Oyo 7 is actually producing.

I've been trying to sell puts. I've managed to sell some. These expired worthless on Friday. My effort to collect income, and/or acquire at a price point that is under market.

Does anything happen this week? I'm not sure, but in retrospect, all that happened last week was a couple of days where about $20K worth of shares were exchanged. Yet, this is about the largest dollar volume we've seen in a long, long time. But still, it's $20K.

I don't know. I would never put it past a foreign corporation to buy in small chunks attempting to not arouse attention while knowing of an impending sale, or something of that nature. Frankly, I wouldn't put this type of behavior past any publicly traded corporation's insiders.

This is the riskiest of risky. Holding on to a pink sheet stock that went dark.

Ah well, nothing really good has ever happened for me as quickly as I wanted it to.

NITE is a buyer at a dime. Interesting.

That ended quickly. Just out of curiosity I put in a small sell order. Only 31K shares at .29. NITE quickly woke up and the ask is now at .19 and some odd decimals. NITE controls the inside. Laffy.

If you want out of AIVI, you can get out this morning at slightly over a dime. NITE is buying and controls the inside bid. Ask taken over for now.

I'm not sure the bid size is a huge deal. NITE controlled the inside all day yesterday and today. This morning's bid was only 10K shares. A total amount of about $500 at the bid.

Yesterday's bid size was larger though.

Again, a total daily trades in dollars of less than $20K. But I agree, it was unusual.