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brez, i'm pretty numb to the price fluctuations now. give me .50-.60 and i might smile a bit
gary
someone's buying up the 25's at the bid through SBSH
thanks dat,
only this part was new to me:
"The rumours have been heating up over the last few days on exactly this..."
agree Brez, but the biggies aren't opening their checkbooks til there's proven.
Addax on the other hand is joined at the hip w/ ERHC in the JDZ so i could fathom they could try some sort of offer. just musing.
opus, I'd love to see a deal with Addax. However, a deal such as immediate cash (say $1-2 if AXC management could get shareholder to agree) would not be enough. Why would SEO accept if he can just wait 1 more year. God knows i've waited.
I'd highly welcome any deal that can keep our upside intact.
what rumour is Sfreed referring to ?
from yahoo:
He seems to argue a point that Addax should buy ERHC to maximize net
revenues to it.
However, if you subscribe to the theory that Addax wants to find
(i.e. locate, prove up and show a buyer its there) as much oil as
possible and then sell out, does it matter whether Addax actually
produces from the JDZ or not. Actually producing oil is probably
further out on the curve than Addax wants to go in the JDZ - its a
much bigger project than their other easier properties.
What matters is proving fields and blocks contain lots and lots of
oil. Maximizing proven reserves to maximize a potential buyout price
is their goal.
Addax is showing that it wants to be top dog in the JDZ. Right now,
ERHC is number 2 - and is fully carried by Addax.
So, right now, Addax is paying for reserves that ERHC will book as
its own and get the benefit in any future valuation. That is not in
Addax's best interests.
The rumours have been heating up over the last few days on exactly
this...
.22 x .23 we're golden lol
well, i do like the action .21 x .22
ARCA is pushing it up at .205
why the urgency?
.16 x .18 yikes
OT: new car must be a beauty, luck guy you! I looked out the window this am and there must be close to a foot of snow outside. How i wish to be washing my car now on a Decemeber 3rd.
gary
ERHC Energy Announces Annual Shareholders' Meeting Date
(Market Wire 11/20 16:42:17)
HOUSTON, TX -- (MARKET WIRE) -- 11/20/07 -- ERHC Energy (OTCBB: ERHE), an independent oil
and gas exploration and production company with significant assets in the
Gulf of Guinea, has announced that it will hold its next annual
shareholders' meeting on Tuesday, April 22, 2008 in Houston, Texas.
Shareholders of record as of March 14, 2008 are eligible to vote at the
meeting.
Shareholders of record will receive formal notice of the meeting and an
invitation to attend via a Proxy Statement that will contain the time and
venue of the meeting.
The address to shareholders by the President/Chief Executive Officer of the
Company will review the Company's performance and prospects. Shareholders
will have the opportunity to elect directors and affirm the appointment of
the Company's independent auditors. The meeting will also be accessible in
listen-only mode, by telephone and through the Internet, to the
Corporation's shareholders and all other interested parties. The discussion
may include forward-looking information. Access instructions will be
announced prior to the meeting.
"We look forward to this opportunity to meet personally with shareholders
and discuss our various initiatives and accomplishments," said Acting Chief
Executive Officer Nicolae Luca.
ERHC has interests in Blocks 2, 3, 4, 5, 6, and 9 in the offshore Joint
Development Zone (JDZ) between Nigeria and the island nation of Sao Tome
and Principe. ERHC has additional interests in the territorial waters of
Sao Tome and Principe, known as the Exclusive Economic Zone (EEZ).
About ERHC Energy
ERHC Energy Inc. is a Houston-based independent oil and gas company focused
on growth through high impact exploration in the highly prospective Gulf of
Guinea and the development of undeveloped and marginal oil and gas fields.
ERHC is committed to creating and delivering significant value for its
shareholders, investors and employees, and to sustainable and profitable
growth through risk balanced smart exploration, cost efficient development
and high margin production. For more information please visit www.erhc.com.
Safe Harbor Statement
This press release of ERHC Energy Inc. (the "Company") contains
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Such statements may include, but are not
limited to, statements concerning the Company's future growth, operating
milestones, drilling operations, business plans, prospects, investment
opportunities, activities in the JDZ, corporate governance, cash position,
financial position and financing plans, as well as other matters that are
not historical facts or information. Such statements are inherently
subject to a variety of risks, assumptions and uncertainties that could
cause actual results to differ materially from those anticipated,
projected, expressed or implied. A discussion of the risk factors that
could impact these areas and the Company's overall business and financial
performance can be found in the Company's reports and other filings with
the Securities and Exchange Commission. These factors include, among
others, those relating to the Company's ability to exploit its commercial
interests in the JDZ and the exclusive territorial waters of Sao Tome and
Principe, general economic and business conditions, changes in foreign and
domestic oil and gas exploration and production activity, competition,
changes in foreign, political, social and economic conditions, regulatory
initiatives, compliance with governmental laws and regulations and various
other matters, many of which are beyond the Company's control. Given these
concerns, investors and analysts should not place undue reliance on
forward-looking statements. Each forward-looking statement speaks only as
of the date of this press release. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to
any
forward-looking statement to reflect any change in the Company's
expectations with regard thereto or any change in events, conditions or
circumstances on which any forward-looking statement is based.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact:
Dan Keeney
APR
DPK Public Relations
832-467-2904
Email Contact
S.IW ERHE EU.IW EUOG.IW
from sfreed on yahoo fwiw
I think the best deal for all shareholders would be to taken over for
shares of a non-US company with good management and the ability to
lever the assets we have. We keep the upside imbedded in the assets
and have a call on whatever additional value that can be created.
Nothing happens until the investigations are over, especially the
DoJ. I understand that is quite close - dates not specific, but
prior to year end.
Things might get interesting now that EEL is back trading. The
combination could be very interesting.
http://finance.groups.yahoo.com/group/theelephantfields/message/12020
someone needs more cash today i guess
edit: lol
looks like someone needed some cash today
gary
good to see that BOFA moved away from .30
hopefully he's done selling
nice action today!
well, it's good to see that the co. is ensuring that all filings are properly filed, a definite good sign. imo.
weird filing, doesn't indicate # shares, but has date of event requiring statement: 07/24/2006
more cleaning up?
Walldog, all the Chinese have to do is offer a few million more in “aid” money and STP will probably no longer recognize Taiwan. It’s happened many times already, and there are only a few countries left that recognize Taiwan.
wasn't supposed to buy anymore, but what the heck, .275 20k is me
gary3699
every year i say to myself we'll have a good XMAS, i'm thinking xmas 2008 will be spectacular, but who knows, maybe even this year lol
gary3699
brez, morning
no mention of details of the 9% in the cc
info from 10Q, Aug 12th, '07:
block 4 breakdown
17.7 % original, fully carried
9% to be returned from godsonic, of which 1.8% (carried I think) goes to ERHC and 7.2% goes to Addax. In addition, Addax to pay ERHC cash.
ERHC's final total for Block 4: 19.5%
hope you're settling in well in Virginia
gary3699
Homeport, if you look at Madigan's profile:
http://www.akingump.com/attorney.cfm?attorney_id=397
"represented former chairmen and board members in multiple SEC and Department of Justice investigations, particularly SEC/DOJ FCPA investigations"
Akin Gump is representing ERHC for all the investigations, I would think that he would mention yesterday that ERHC could lose its rights under DOJ investigations if it was the case.
imho,
gary3699
mms://winaudio.mshow.com/334962.asf
this works, no log in needed
If anyone thinks a company will buy-in @ $2-4, you need to come down to earth. That's $1.4-$2.8 billion valuation, before any drilling.
I can imagine a buy-in 50cents-$1.25, and then market price surpassing buyin price. Surpass by how much? to 1.50, $2 $2.5+ guess it depends on rumours, euphoria, pump, and of course news. The high estimates of some posters are possible only with proven oil, so many holes need to be punched first.
I also dread that a near term buy out thus limiting our profit potential.
IMHO
gary3699
Dadd, I'm doing fine. just biding time here until ERHE takes off. Paltalk room will prlly open back up by then.
Can't believe people give oily so much attention. Don't they realize he's the "Beaks" guy. No morals. ok, no more mention of him from me.
gary
sheesh, don't you all know by now oily knows nada! nada i say!
I could start a new handle and start posting riddles and price predictions and you'd all believe it
gary
nah, i'm not expecting news... but these firesale prices won't last forever
gary3699
bofa to .40 ask
brez, i doubt it would be that high, pre-drill, way under a dollar for any buy-in, if it does happen, gary
spec29, SEO held for years, no way he will sell all now unless multi dollar offer comes in, but that would be impossible pre-drill
walldog, i agree, but it is strange that seller via BOFA mm is selling, or trying to hold down price. go figure
gary3699
BOFA on bid, asking .38
yes, it's on the news wires
I like the news, a step in the right direction. If he were to divest some shares and give up control, I'd be grinning ear to ear.
gary
Maybe Feltang has the "i want cash now" attitude, and is selling via BOFA. lol
yes, i agree. also noteworthy is that one employee (the accountant?) got one million shares. Co. has cash, but is still paying out shares. an incentive in the compensation package?
During the nine months ended June 30, 2007, the Company issued 1,000,000 options to purchase common stock of the Company to its new employee. These options are for a term of three years, have an exercise price of $0.43 and vest over one year.
page 11
small amounts (%wise) of dilution i can accept. 5.25m shares is under 1%. When issuance is in the multiple 10's and 100's of millions of shares, it won't be acceptable for me
yes, i do think the company will issue new shares. am i reading/understanding it wrong?