Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
If one lived in Colorado, where would one go to access the share number?
I also thought I remembered something about the JDZ going with ERHC, as if ERHC had to remain intact. It was a strange condition I thought at the time.
For offor to be the last man standing his would need to be the last loan. It is likely that from now on out there will be no more convertibles outside of those from chrome. Why otherwise would he have come in at this point?
$200 at the end of the day green tape-painting and the stock jumps up another 10%, or an increase in market share of $760,000. When you look at money flow, this dip down was meaningless. When you look at the convertibles, this dip down was disastrous to the number of OS (probably!). When you look at how I'm now positioned, I bought up cheap convertible shares, a much greater % of the total OS shares (probably!) than I had before thanks to all the leg-work the converters did for me. I wonder about the strategy of ERHE taking convertibles from so many different sources and over time. One source/one time would have managed the share price to maximize their return, would have brought the SP down for the conversion period in an artificial way and then let it spring back up in a controlled release. With many loan sources over an extended period you have everyone trying to sell to cover which then drives the price down, rinse and repeat. They could have given one loan operation a 75% profit and it would have been so much better...
Congrats longs who signed up for more... waiting!
If you look at the volume-weighted price (price times volume) over the last 10 years, even 3 years, what is going on now is absolutely nothing. While there is a lot of volume, it has 1/10th the meaning the same volume would have had at 10 cents...
That's two days in a row that the price was painted at the end a point up with a very small trade. Who does this and why? Is this typical of penny stocks? I've been here ... for... ever ... waiting. Keep up the good chatter, guys.
"This summer"? Kenya is cut by the equator, which summer, I wonder, the N. or S. hemisphere?
If they are buying, doesn't that preclude any imminent news that's "in the works"?
Low accepted bids in the STP means less we need to pay for those two 15% options, right?
The first step before the Chinese loan to STP would be STP dropping recognition of Taiwan.
Interesting that a few days ago there was such a hard bounce off of 22 cents.... I thought at the time that someone wanted to keep it from falling any further.
Just a reminder to those Coloradans.
ERHE is a Colorado company, 5 year gains from which are not taxable on the state level.
The NPA will accept offers from a company for more than one block in each zone but a company will only be awarded one block in each zone.
Unless said company buys out ERHE.
Maybe that's why we hit a low in the first of Feb.
Average trading volume 857712 sh/day
Median trading volume 490350
For the last 8 years.
Here's the top 20 trading days in the last 8 years:
The Dept of Justice take happened in may of 2006.
I don't see anything surrounding that date.
Date Open High Low Close Volume Adj Close
2/21/06 0.84 0.87 0.76 0.82 16309600 0.82
2/7/06 0.4 0.49 0.32 0.47 13632600 0.47
5/31/05 0.58 0.81 0.58 0.76 13569000 0.76
4/29/04 0.68 0.74 0.4 0.48 13371400 0.48
12/12/5 0.42 0.45 0.26 0.3 12779300 0.3
4/15/04 0.78 0.92 0.78 0.88 10365000 0.88
2/27/06 0.66 0.8 0.63 0.79 10200100 0.79
2/17/06 0.62 0.76 0.61 0.72 8848700 0.72
4/26/04 0.75 0.8 0.59 0.65 8650400 0.65
3/14/06 0.85 0.95 0.82 0.92 8416600 0.92
6/2/05 0.71 0.71 0.55 0.63 8256500 0.63
4/5/04 0.56 0.65 0.54 0.6 7971700 0.6
3/13/06 0.86 0.9 0.8 0.82 7909000 0.82
5/5/06 0.7 0.83 0.68 0.81 7851000 0.81
3/15/06 0.95 0.99 0.9 0.92 7750100 0.92
4/27/04 0.58 0.6 0.48 0.52 7427200 0.52
6/1/05 0.82 0.83 0.68 0.69 7167600 0.69
7/13/04 0.58 0.71 0.58 0.7 7140200 0.7
2/22/05 0.51 0.56 0.49 0.54 7125400 0.54
Like you , I don't see the delay's in picking the 15% blocks as a bad situation too, as long as the delay doesn't take years.
Remember, we have to pay signature bonuses in these two 15% picks, so a delay may play to our advantage.
Strat,
What I wrote in my message was a direct quote from the ERHC president Chude Mba. He very explicitly indicated that ERHC would recieve 15% from any two blocks and then proceeded to list ERHC as getting 15% from the very best choices, even those chosen by EEL. Read it again. Posturing, perhaps, but this was a history that is worth bringing up. And, yes, it was never clear how one would establish a signing bonus for ERHC in taking 15% of an EEL block that was taken without a signing bonus.
We get the 15% picks in the best two blocks.
What follows is what the ERHC president said in 2003:
see the site for a better reading:
http://www.thefreelibrary.com/ERHC+President+Explains+Recent+Agreements+as+Nigeria-Sao+Tome+Joint+...-a0100891789
ERHC retained its exploration rights in DRSTP's Exclusive Economic Zone ("EEZ").
ERHC has the right to acquire 100% working interest in two (2) blocks of its choice in the EEZ, subject to DRSTP reserving three (3) blocks of its choice. There are no signature bonuses to be paid on these two (2) blocks. ERHC additionally has the right to acquire 15% working interest in any two (2) blocks of its choice in the EEZ and would pay its proportionate share of signature bonus on these two blocks.
For simplicity, assuming that ERHC "ranked" the blocks in Choice order and DRSTP had reserved Choices 1, 2 and 3, the percentages and signature bonuses payable in each option pick are as follows:
Working Interest
Option Pick Percentage Signature Bonus Payable
----------- ---------------- -----------------
ERHC/Block Choice 1 15% 15%
ERHC/Block Choice 2 15% 15%
ERHC/Block Choice 3 0% n/a
ERHC/Block Choice 4 100% $0
ERHC/Block Choice 5 100% $0
As in the JDZ, ERHC is not precluded from bidding for additional working interest in any block in the EEZ either alone or in partnership with other oil companies.
DRSTP has indicated that it would attempt to hold its EEZ licensing round as soon as possible after the conclusion of the JDZ licensing round.
end quote
The bit about ERHE doesn't make sense:
"ERHC Reaches Out To Eremor...Six Years After
Six years after it got a 100 per cent interest and operatorship of Eremor, ERHC Energy finally decided to pursue its in Eremor Marginal Field located in shallow water offshore Nigeria.
The discovery well, Eremor-1, encountered three oil and gas zones, the most prominent of which is the D-03 reservoir with 43 feet of net oil sand. It was re-entered for testing in 2005 with the D-03 reservoir testing 2,200 barrels per day of oil with API gravity of 22, a low gas to oil ratio and no water. Excel was awarded a 100 per cent interest and operatorship of Eremor in 2003.
For the Energy Company Chief Operating Officer, Peter Ntephe, among its investment opportunities in the Nigeria Oil and Gas industry, Eremor-1 is seen as one of the top concerns being considered by the company."
What did you find interesting?
Right on. Seems like 200K internal shares can get this puppy moving up 18%. This baffles me. Then there's always the rumors coming true. MN, when is it you start the Haiku?
Its mostly manipulation (up/down) until the real volume/news hits. Its just remarkable that a (group) of investors can have this much effect.
It's funny that Rambus' reposting from a Sept message board
http://quotes.freerealtime.com/dl/frt/C?IM=quotes&SA=quotes|MessageBoard&symbol=ERHE&type=view&msg=1307
refering to a Sept Afren interim report seemed to elicit such a nice rise in SP here in Dec. It shows two things about the SP: tightly wound (ready to spring) and tightly manipulated.
"IMO, all we got in here are SEO's group, risk takers/long term holders like us and traders"
I would also expect a Sinopec-associated group. Acting either to leverage their inside knowledge of Sinopec's drilling results, or acting to keep ERHE shareprice in check for the eventual buy-out.
CH4 is a hydrocarbon.
Edit: OK Walldrug, you beat me to it.
The one other thing is that SEO doesn't care what the stock price is. For him its all about behind-the-scenes valuation and probable sale. IMO
Thanks for the upstream news, Farrell.
Thanks, Mark. Believe me, this whole time you have helped treble my patience.
Wait a second... I thought it was $3.67 per share not $367. Did I and red sell too early?
Ouch.
Thanks, Strass.
Offor and the list of Nigerian debtors.
I heard on BBC this morning that the Nigerian senate published a list of debtors from failed banks. This has probably been talked about ad nauseum here and I missed it. Offor's failed bank, African Express Bank owes N3.8 billion as per
http://www.ngrguardiannews.com/news/article01//indexn2_html?pdate=090709&ptitle=Senate%20invites%20failed%20banks%27%20debtors,%20some%20pay%20up
Another article has this to say:
Offor and his Chrome Oil Services, among others also did not refund 15 billion loan obtained from his bank - AFEX, even as he was reported, during the week, as insisting that he had defrayed his debt to less than N900 million and at the verge of fully liquidating the balance.
http://www.nigerianmuse.com/20090712234113zg/nigeriawatch/officialfraud/unveiling-banks-mendicant-millionaire-debtors-daily-independent
Does anyone have a quick understanding of this and how it applies to our Co, maybe Homeport?
Thanks,
Pinecat
brez, you can upload your image to the ihub image hosting service and then it loads:
http://investorshub.advfn.com/boards/Image_Upload.aspx
you can see how to do various tricks at:
http://investorshub.advfn.com/boards/faqh2post.asp
Good luck, and thanks!
Beautiful Kobi... except that applies only to the JDZ.
If SNP is paying $16/barrel, then they paid a premium of about $4/barrel. At $8.8 billion, that's a premium of $2.2 billion. IF that premium equates to the value of ADX holdings in the JDZ, that would give us some idea of how SNP would value our holdings. Any takers on going through the numbers/percentages?
Strass,
Remember when Chevron drilled in block 1, there was great confusion between Chevron and the JDZ as to the value of the discovery. The JDZ was quite excited while Chevron demure. There is perhaps not the greatest connection between the drilling companies and the JDZ.
I concur with emdyal and others, this is not great news:
We are beholden to SNP whereas ADX was really engaged in drilling.
We once had both SNP and ADX to rely on, one with cash the other with the desire to drill.
It appears that the potential of the JDZ was worth selling out for, rather than holding until oil discovery.
Hopefully there are things going on beneath this. Imagine how estatic we would have been 3 years ago if Sinopec came in with the high bids and captured 2 of the blocks we had rights to, rather than Addax-who?
Impressive Manti EOM
We get the 15% picks in the best two blocks.
What follows is what the ERHC president said in 2003:
see the site for a better reading:
http://www.thefreelibrary.com/ERHC+President+Explains+Recent+Agreements+as+Nigeria-Sao+Tome+Joint+...-a0100891789
ERHC retained its exploration rights in DRSTP's Exclusive Economic Zone ("EEZ").
ERHC has the right to acquire 100% working interest in two (2) blocks of its choice in the EEZ, subject to DRSTP reserving three (3) blocks of its choice. There are no signature bonuses to be paid on these two (2) blocks. ERHC additionally has the right to acquire 15% working interest in any two (2) blocks of its choice in the EEZ and would pay its proportionate share of signature bonus on these two blocks.
For simplicity, assuming that ERHC "ranked" the blocks in Choice order and DRSTP had reserved Choices 1, 2 and 3, the percentages and signature bonuses payable in each option pick are as follows:
Working Interest
Option Pick Percentage Signature Bonus Payable
----------- ---------------- -----------------
ERHC/Block Choice 1 15% 15%
ERHC/Block Choice 2 15% 15%
ERHC/Block Choice 3 0% n/a
ERHC/Block Choice 4 100% $0
ERHC/Block Choice 5 100% $0
As in the JDZ, ERHC is not precluded from bidding for additional working interest in any block in the EEZ either alone or in partnership with other oil companies.
DRSTP has indicated that it would attempt to hold its EEZ licensing round as soon as possible after the conclusion of the JDZ licensing round.
end quote
PS. I tried to neaten up the columns for you...
The last time we were at 20 cents was the STP coup, pre awards.
Its interesting that exxon paid $49 million for their 40% of block 1 and then turned around and sold it for $77 million to addax.