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It's worth noting the appreciating nature of the dollar at this point in time. The world is on sale for US dollars.
Foreign drilling costs are coming down much faster than domestic affairs.
The government can't even check themselves enough to stop sending social security checks to people that have been dead for 20 years or show to be 120+ years old.
Let's just assume they, including the SEC, for the most part, are asleep at the wheel.
Hah, the company lost 30% of its "value" on a $1.50 trade.
Entertaining, to say the least.
This is getting creepy.
Is it your opinion that the CEO of ERHC is on the lam? That he is not performing the duties required of him in good faith?
It's been my experience that the CEO of a company is not the guy that swings the sledge, draws the schematic or clears the punch list. My experience has been the CEO is the one with the right connections, the charisma to get out amongst peers and sell a vision. I think until we know definitely that he is just sitting in London with his fiance and playing video games, we should retire the man hunt. Just my opinion of course - I've got no better idea than you of what he is doing. I just choose to believe the particular functions of an industry are holding Peter to the proper standard. I'm sure he wants a price appreciation in his stock holding as much as any of us.
Fortune favors the bold. Good luck to all.
That is certainly preferred to down, down and away. :)
I'm taking off a bit early to finish a porch for my wife. I'd do that whether the share price is up or down. Even if it went to zero today...still going to take off and go spend time with my wife and 5 month old daughter.
I didn't invest here to replace my job. That would be GREAT but it is simply not the reality of the situation. Could I see a huge windfall from this stock? Absolutely, I look forward to exactly that.
At the end of the day, what is said here...or not said here...is not going to have an effect on the ground in Kenya... Chad... Houston... wherever. Shareholders can have an affect in person, or en masse. I think we're to the point of needing new information. I think that is forthcoming. If it doesn't show up - I'm happy to join a group with a unified goal and message to seek answers from management. The disjointedness of individual requests just doesn't get elevated many times to level of necessitating a response. I don't disagree with a single one of your concerns. I'm not going to dismiss the lofty, positive, pontifications of some though and I don't think it is anyone's place to do the same. We can all smell BS when it comes our way. I like to read the hopeful stuff. It makes me smile to think of what COULD happen. Will it? Who knows. Either way, I'm going to build my porch and enjoy my afternoon.
I hope for the best for you, Condor...for everyone.
I had a coach in college that always use to quote Muhammad Ali to us. "I'm the greatest. I said that before I ever knew I was." There's little tangible benefit to thought itself but we do make decisions under the weight of our perception of the likely outcome.
I'm not condemning you in the least. Your post has merit - lots of it. This part especially:
Let's hope for a good week and you'll be there...and I'll be happy to be there with you.
Nearly 3/4s of a million shares on the ask at a cent and a quarter...
If good news came Monday, I would kick myself if I was only .003 on my bid from getting in on the upswing.
OR it could go down with another debenture drop. Who knows.
And I hope the sellers keep playing hard to get.
Do I think $.02 is possible soon? You bet.
In as much as the $.04 day was here and gone so fast, we could repeat that easy.
I think going to $.02 is a strong possibility than dropping under $.01 for an extended amount of time. There's been a lot of strength at $.01 and now that we know insiders are buying, I think they will try to hold $.01 for the sake of perception, if anything.
It will certainly be interesting to see what they divest.
My hope is that they will hang on to areas with similar production costs as the areas we have interest in. That would be a good sign, IMO.
I completely agree with the strategy you present but I do think one of the underlying assumptions is where someone might differ with you. The particular assumption where I differ is in the timing of when the cheap shares to offset dilution will be available. You present they are cheaper now ... I think they might be cheaper after the fact.
My thought would be that I will probably be able to grab those shares needed to offset dilution by picking them up once the dilution has already occurred
I'm sure developments down the road would probably blow my assumption out of the water and I will be left with fewer shares than I could have had for the same $$ but I guess that is the joy of investing.
Either way, I think shares are cheap now. I can see them getting cheaper when some of the debentures convert (without any other developments) but I don't see them getting THAT much lower.
Doesn't that work both ways? The spinning, beyond known fact in the other direction? It seems like if there was a magnanimous desire to arbitrate the opinions posted here that the board might not be so contentious.
All that really happens lately is for the up crowd to post a lot on green days and the down crowd to post a lot on red days.
Personally, I think we're all here for the same reason. I just wish the discourse would bear that fact out.
They're only "toxic" if you don't take advantage of the opportunity they give you to a) increase your holdings at cheap prices b) pay for those free shares on a short term swing
Mine says there is money headed to my trading account to get ready for what yours says.
GLTA
That's an interesting take, for sure. I had not actually thought of it that way before.
To sum up, they left because they were not dealing with partners in good faith and only wanted to exploit them for information = brilliant maneuver backed up by solid fact.
or
They left because they were not as excited about the prospects in that block and favored another block that had more promising leads = baseless speculation.
I've enjoyed the discussion today and I have learned a lot. My conclusion, the share price will either go up or down tomorrow and could change direction the following day.
For context, see post 296012.
I would likely divest the proportional amount of shares to offset the % of assets that ERHC had sold to take some profit. There is certainly promise in other areas but I think Kenya is the key to ERHC's success.
Could they buy in another producing asset with some of that money and provide for future cash flow? Sure they could. Lucky for them, producing assets should be value depressed because of oil prices more so than potential resources like Kenya.
That is certainly a measured choice... and probably not a bad one.
Noone saw the brief run to 4 cents coming the other day. I don't think anyone could make a call for it to happen again predictably so buying here isn't a sure short term gain but it is not out of the question as far as profitability.
My guess would be that he has already tried to address the same question over and over again. I'm sure the more times the same people ask the same question, managements eyes just start to glaze over before they can even finish reading the request.
That's not an excuse for their "lack" of communication, I am sure they could provide the reasoning if they felt the need to provide it.