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New Revenues w/ Nearly No Expenses
Nice to see how we are bringing in new streams of revenue without having to incur heavy expenses. Should really help both the top and bottom line in the near future. I think the SP drop at this time shows more of the instant gratification expected by penney stock investors rather than an indictment against the management and how the coompany is being developed.
Moderator Review GrandCayman
Please review the messages this poster has entered over the past few weeks. It is imperative that we have both positive and negative viewpoints on this board, but he has contributed nothing but childish taunts (eg: MOBL down BWAHAHA). If he blasted the stock with some reasoning that could be discussed I would have no bitch, but his is not the bearing of a true investor in MOBL; he is either a child or a paid basher. Why do we need to put up with his drivel? Enough of letting any idiot post anything he wants on this board!
Reasons for ERHC upsizing
Gig, you made the comment that if anything ERHC should be upsizing over the next 12 months. Where do you envision these new employees would be used? The only area I can come up with is having a dedicated staff to each of our alliance partners and I don't see that much input from ERHC once the contracts are signed. I do not think we will have much input re: drilling or technical matters. As such, I see a very modest increase in personnel if any. Would appreciate any input you see re: new employees / duties of same.
ERHC chat room or cheering section?
I am dumbfounded to see Gigwoof blitzed for his response re: Offor and his control of the company. Gigwoof reponded with a view of O closely matching my own and as Nodak posted today. I think Nodak's view hit the nail right on the head (O could be our greatest asset or our worst nightmare). I think any investor who does not look at O without this two-sided view is being very naive. I feel much better knowing Gigwoof will still be posting and staying in touch for his comments are always welcome. Makes me question the value of this board if everything is being censored to this level.
Excellent overall view of ERHC IMO
Thought your post pretty much summarizes most of the pertinent issues re: ERHC. I agree with what you posted.
I tend to side with posters who I think are skeptical optimists. Pumpers are usually naive or new to investing and don't want to hear anything negative regarding a stock, bashers are confounding in trying to figure why they would waste time on a stock they don't believe in and obviously would not invest in, and skeptical optimists are backers of a stock but realistic enough to want to know all the impediments that could block the success of a stock. That is why I appreciate negative comments re: ERHC as much or more than positive comments. You fit this mold and I appreciate your input.
Informative rig availability comments
Thanks to all for the input re: rig availability. I would say the consensus is that we should expect some delay for drilling and be happily surprised if time lag is short. Makes signing of the contracts in Oct. more of a stepping stone in the journey to share price appreciation instead of a major jumping off point. As such, I don't think we will see this board overrun with pessimism if share price doesn't jump significantly after the signings.
Makes me wonder if our fast track pronouncements in our block bids were more for show than effect. Would think Nigeria is too experienced in the oil industry to put credence in them if they knew oil rigs are not available for many months once they are contracted. Hope PXD and NBL have some plans re: rigs up their sleeves but prepared for wait if not so.
Anyways, stretching out my timeframe for ERHC to blossom and will not get upset at the stagnant price in the meantime if that is what comes to pass.
Like the recent board chat that concerns more matter re: ERHC instead of individual investors or off-topic subjects.
Oil Rig Availability
Assuming the PSC's and JOA's get signed in Oct as scheduled, what is the feeling of those in the industry as to the timeframe for PXD or NBL to secure a drilling rig? There was a recent posting that seemed logical stating that oil companies would not contract for a rig prior to having the negotiations completed and if that is the case what is the timeframe we can expect to be able to secure one?
Many of us were dismayed at the lack of price appreciation after the awards but now it seems somewhat explained by the uncertainty of getting the PSC/POA's signed. I am worried that after we finally get the contracts signed in Oct that we may again be letting ourselves in for a letdown if we find out that drilling won't be able to commence for 6months / 1 year / or longer and the stock price stays in a rut (or maybe just a small gain assuming no other news such as the rumor of the possible buy-in). I know we said we would have 3 wells drilled within a year but is that possible in today's drilling rig shortage situation (assuming there is a shortage as I am not well versed in that field)?
Would appreciate hearing any and all views from those with knowledge of this part of the industry. I like to hear both positive and negative views and reasons for both.
Would also like to hear views on what others expect the share price to do in Oct. assuming all negotiations are completed with no problems. I believe we will get a small bump but I am now not expecting much of a run until drilling schedule gets formalized. Those who said this will not be a quick get-rich stock but a long term gem have convinced me to greatly increase my horizon for ERHC to reach the levels I expect. Maybe we will start weeding out the traders / flippers and secure a more long-term based investor as I have evolved regarding this stock over the past 3 or 4 months.
What is the incentive for ERHC to have the SP increase prior to JCS / JOA being signed? Prior posts have said nobody wants to flaunt good news prior to JCS as that would hurt in negotiations with JDZ. If they have a deal re: a buy-in that would already be negotiated and a SP increase would not help there. Not sure how an increase would help in the JOA negotiations as I suspect those were pretty well hashed out prior to entering into the block bidding. Would Offor benefit from a SP increase now as opposed to 2 months from now? If not, why would he want it increased now? All in all, seems like we are pretty much treading water until JCS / JOA get signed. I said this a couple of weeks ago and it still holds. Would appreciate other takes on the Aug / Sep time frame and why it would behoove any party for ERHC SP to rise during this time.
Re: Brooklyn Boy and his contacts w/ ERHC IR. What kind of news are you looking for prior to signing of the JCS / JOA? I don't see any that would matter re our current stagnation. Nothing happens til agreements signed, then we should get a real PR plan rolling re drilling dates, expected cash flows to company according to seismic, NEEZ situation, etc.
If we truly feel we have a great investment here, what does two more months matter? It is quite different from when we were hoping to get awards and dangling by our thumbs, now we are just waiting for the necessary negotiations to get done so we can move to the next phase of actual drilling. I understand the impatience but the experts in the oil industry have been telling us that things don't move fast in the industry, especially when you are negotiating "elephant fields".
Upper end target
Would be interesting to see where different investors see ERHE going in 3-5 years or more. I have heard numbers all the way from $2 to $50 or more. I would be extremely happy with $10 and that is my goal. Everything above that would be a pleasant surprise. I would take some of my shares off the board and trade for PXD shares if they buy-in to ERHC and it is offered at a $2 coversion exchange. I would still leave a hefty amount in ERHC and just let it ride for years as this seems like a possible barn burner of a stock. What are the upper end goals for ERHC of other investors?
Thanks re Offor
Thanks for your input. I appreciate the many fine posts and DD you provide here and on RB. Your point coincides with my statement that if PXD does buy a large portion of ERHC that my fears will be put to rest. My concern was more if Offor still controls ERHC could he pull shenanigans? Obviously you are not worried. I am not that alarmed but had these questions causing some concern as I have taken more setbacks with stocks than I care to admit.
Questions concerning Offor
I have only one worry regarding my investment (for me very heavy) in ERHC and that is Offor and his Chrome / Offshore accounts / FAB / Nigerian scams background (by this I mean the history Nigeria has had with scams and not Offor). I feel that in the past stockholders were severely hurt by the issuance of tens/ hundreds of millions of shares with a somewhat murky background that only benefitted Offor or beneffited Offor way too heavy at the expense of the stockholders. I don't think such events will happen in the future with our PXD / NBL alliances but I would appreciate info from those with more experience regarding same.
Would oil companies shy away from O / Chrome / etc. if some
hanky panky were to come to pass seriously hurting ERHC stockholders by further massive dilution? Could Offor use ERHC as his personal piggybank for other endeavors by issuing more stock? These are the only types of questions I have regarding this investment. My knowledge of Offor is limited and he has been described on this board as everything from a great man to a man solely interested in his own gain.
I will be the first to say my questions / fears may be totally offbase and I do not mean to impugn Offor's reputation.
I would appreciate any info from those with more experience in financial mattters / oilfield experience / etc. as to why ERHC stockholders do not have to worry regarding such matters. I find MONGO's posts quite repetitive and don't read them anymore but his questions regarding the share count increases I cannot pass off as mere bashing.
Does anyone find the offshore accounts set up by Offor (if indeed they are there) troublesome or is that just a protection from his own country should political winds change (this was proposed on this board or RB recently)
I still feel pretty solid with this investment but would appreciate feedback regarding the above questions.
I am making this post to see if others with large investments in ERHC have these same worries or if I am out in left field regarding such matters. TIA for any feedback.
CEO forthrightness refreshing
One of the strongest attributes of MOBL (besides the effectiveness of the CEO) is his openness and his constant updating of where he plans to take the company, how he plans to get there, and how we have achieved what he has envisioned.
They say not to fall in love with a stock but it is hard not to get attached to this one. I would vote for any proposal JW put before the shareholders as I believe he has our interests in mind (which not many CEO's do IMO).
Future sale scenario
I think such a move would be prevented by the BOD. As much as I hate lawsuits, I think shareholders would have a very valid reason to go thru the courts, SEC, etc. if we were sold out way below fair market value. Just hope by that time we have lots of proven reserves so true value would be known.
Mark
Regarding your sources, are they people in the oil industry
(US or Africa-based), financial industry, news industry, African nationals, or other? I realize you must be vague to prevent any chance of their identities becoming known and I am only asking to help us all understand what segments are privvy to this type of information. Will understand if you don't / can't comment but any info would be appreciated.
OT EF Chat
I have registered w/ EF but I can't get chat to be worth a darn. When I check there seems to be about 3 people with not much going on. I am obviously doing something wrong and not getting into the main board.
Once I log on and go to chat, wouldn't all messages appear or do you have to be signed in with other posters to get their comments?
Any info would be appreciated.
Pete
Offor Goals
Offor's goal to become a very large player in the entire Nigerian oil industry pretty much ensures that he will not try to do anything underhanded with ERHE as that would not sit well with prospective partners / alliances down the road.
I don't see him as a person who shoots himself in the foot.
Makes me feel better to play devil's advocate and evaluate all the pros and cons of all ideas put forth on the board.
RE: Offor selling / shorting
If your premise is correct and he has been selling, why would O have nipped the rally right after the awards were announced so quickly? Why would he have waited to sell until after the awards at all instead of before? Why would he continue to beat the price down now instead of letting it run a bit and then selling into it? By doing same, he would have left a great deal of money on the table. Thus, I cannot believe he has been selling.
Shorting If he has been shorting, then he would want price to drop as much as possible so that would be something that may be possible.
ERHE What does the share price have to do with ERHE needing more money? Don't they pay employess mainly with shares? Why would they need an infusion of money from O allowing him to regain massive shares in exchange? Woldn't something of this nature get the SEC involved?
You may be right but it just doesn't appear too probable from my perspective.
Reply re: MOBL trading today
Read post 675. It shows what JW is proposing for the annual shareholders meeting regarding new authorized shares, possible R/S to get a big board listing, etc.
Many stockholders see this as dilution and are bailing today.
Many are worried of a short term drop and are bailing with a buy in again very soon.
Many stockholders see this as a normal agenda for the necessary massive growth JW is predicting (with a possible R/M)and are expecting this to be a buying opportunity for the next few days.
They see these proposed measures as ammunition for JW to negotiate a possible R/M, acquisitions, etc. JW said the R/S would not happen until share price over .55 if it happens at all. These measures give JW the leverage and options needed without having to go to stockholders for OK's all the time.
They may all be put into effect but they don't have to be.
Basically boils down to believing in JW and his vision for the company or not.
Dilution clarification
JW knows that dilution occurred with the increase in outstanding shares but he was making the point that it was not a negative factor because the share price has been appreciating at a much faster rate. He was trying to show that some investors are not looking at the big picture in growing this company in a very rapid manner. You either have to incur an increase in shares or a massive increase in debt to grow like MOBL has over the last 18 months and he was trying to show (IMO) that stockholders have not been hurt (in fact have benefitted greatly) by his growing of the business thru issuing more stock.
Wishy washy investors
The longs (myself included) have repeatedly said that the main strength of the comopany is JW and how he has managed the acquisitions an financing of same over the last 18 months, his overall business vision for Mobilepro, and his upfront reports of what he intends to do and how he intends to do it.
Now that he has proposed the necessary steps to get us listed on a major market, provide shares and money for future growth, and attend to the business of growing the company as quickly as he has to now all of a sudden he is a fool that doesn't know what is best and is intent on screwing the stockholders. Says a lot about pennystock investors - short sighted, greedy, and lacking vision.
JW has been the ONLY catalyst this company has known and I will accept his proposals readily.
Grebea a stunt artist
I cannot accept this poster as honest due to his propensity to play games, eg: Drill date on Website per his post. When asked where, he just replies the Website and does not give what Webstite. I checked both ERHC and Pioneer websites and neither had any mention of aforementioned drill date. If someone is a valid poster, has no ulterior motives, and has information he would just give it and not try to make it a game of 20 questions.
I find his little hints at big things to come very childish.
If he has inside information on something that is to occur Fri or Mon (as he hints in his posts and pretty much indicates that Pioneer is going to acquire a good percentage of ERHC)then he would have to be linked to Pioneer somehow and his touting of inside information is legally very risky.
If he is legit I would hope he adopts a more mature manner.
MM questions
I know nothing of MM's. I know seats on NYSE and the like are sold from time to time, but how does one become a MM? Are they an offshoot of an exchange member? What does a MM seat cost compared to a regular seat? Are MM's more profitable than a regular seat on an exchange? I get the impression that they basically have a license to steal by having all the odds stacked in their favor regarding trading.
TIA for any info regarding how they operate.
ERHC identity and uniqueness
Does anyone know of another company that can be compared to ERHC? We are not an oil company in that we do no exploring, drilling, etc. and as such do not need any infrastructure of people, equipment, facilities, etc. We are basically a facilitator (thru Offor's connections in the GOG) for major oil companies to secure major oil leases. For this, we get a healthy cut of delivered oil from those leases and this could amount to billions (maybe many billions).
I would say that HDY with their concession off Guinea comes close (I have owned that stock but none right now) but they do have a technical dept. with a Cal Tech PHD running the show so they are much more technically oriented. They mainly will have to use other partners to develop such a large concession.
I replied to Mongo a few days ago re: hiring of people because ERHC cannot be compared to other oil companies in any shape or form. New investors have to believe the value of the
leases and what our future income could be if all goes well. That makes investment in ERHC quite easy. If they are looking for fundamentals, TA, historical performance, etc. they will walk away quickly. To some ERHC looks like the longest shot in the market but to others it looks like a rock solid goldmine somewhere down the line. I think the odds of making a fortune here are much better than the lottery so what more can you ask for. To wrap it up, I don't think you can compare ERHC to anything that has come down the pike and I don't know how much DD you can do on the company other than knowing what we have been awarded, who we have partnered with, what Offor has to offer with GOG connections, etc. Only problem I can see is geting greedy now and overextending as it may take awhile (possibly 5 years or so) to achieve the result many of us feel is going to occur.
Hiring blitz need?
Why are you running this inane point? If ERHE has no operational duties re: JDZ blocks than for what type of work do they need to be hiring?
Board too confusing
Will be taking a break from reading board until some firm news comes from ERHE or the stock dramatically changes (either up or down). Everything is just hearsay / opinion / gut feeling and it does me no good. Have heard everything from end of month to end of year for PSA's , weeks to a year to get rig on site and drilling, myriad financing theories, etc. and since I can't do anything about what happens and feel like something good will come in the end (whether that be 3 months or 3 years) I don't need to spend a lot of time following that closely. Best of luck to us all, too bad we can't know who is of sound character and who are human vermin, and I hope this board helps someone make a fortune.
I did not think ILUV was out of line today asking to get proof to distinguish FACT from OPINION. Feel too many don't want to hear bad news (or any news that contradicts their thinking)but that is needed for a well-functioning board.
Who is big money?
What "big money" do we expect to invest in ERHE after awards ae accepted and PSA's announced? It has been noted that fund
managers can't invest in penny stocks, other oil companies won't invest as they are not in that ballgame IMO, so who is/are the "big money" waiting on the sidelines? I am not trying to be a smart ass, I'm just trying to see who is waiting to come onboard. Any help would be appreciated.
No clue re: SP
I have no clue day to day as to stock direction and expected increases or pullbacks. This co. has traded so erratically that I feel I am totally at the mercy of the big boys (whether that be Offor, FAB, MM's, XOM, whomever). I don't believe in the conspiracy theory and can't see how someone can be dumping lots of shares to buy back even more but then I am not too informed as to how the MM's play their games. My main disappointment is that I thought there would be massive buying after the awards from those who follow Oil stocks as our prospects look so great. Why they (and this would include other oil companies and their employees, analysts who follow oil stocks, etc.) have not given more notice to us is beyond me. I have now resigned myself that this stock may take a lot longer to pop than I was expecting but since I don't have anymore margin calls I can wait because the future should be very rewarding. Still goes back to my post of a month or more ago where I opined that this just seems too good to be true (getting in so early on a possible elephant field).
ERHC future input
I agree that our main efforts are over (helping to secure the awards with our Nigerian connections). Chrome may get some business related to the awards but that doesn't help or affect us. We have nothing left to offer outside of our connections thru Offor to local political powers (and this is a valuable asset). We may input money down the road but I don't see other seismic, drilling, transporting, storing, etc. benefits that we have to offer. All in all, I see us just going along for the ride now. I don't see first oil by the end of the year as some have suggested. I think next summer would be a pretty fast track unless the seismic, rigs, etc. are just waiting for the go ahead and immediately are put into action. Look at Memon's words that things in the oil industry just don't move that fast.
Estimated date for first drill
Some have said they don't see price moving dramtatically until first drill or first oil. I see that as a year out. Would appreciate other estimates of when to expect first drill. IMO
I see price rise before first drill.
No survey for free acct.
I have a free acct. and cannot see an ERHC/ERHE survey either.
Sprint business is high margin
Jay said in the interview that the Sprint $14-20MM revenue will be very high margin. He also said that many other developments will be forthcoming this summer and he sounded IMO like they will have more zing than this new business. Company just keeps expanding with each new piece being accretive to the bottom line. Extremely promising for a few years down the road.
ERHC controlling interests
Is there any possibility that some entity could gain controlling interest of ERHC? Offor owns 38% (per your info which I don't doubt), FAB (Nigerian Bank) owns what percentage? I know this board has had pro/con views if FAB is solidly in our camp or would turn the shares to make a profit to some unfriendly entity. That still leaves a lot of shares out there in the hands of longs that will not sell so I take it there is very little chance of the unfriendly buyout but one cannot say a buyout is POSITIVELY out of the question (or is it). I don't have the info to answer this and would appreciate input from anyone with more knowledge re: outstanding shares and the major holders of them. A buyout is the only thing I can see that would hurt the longterm prospects of the company. Thanks.
Offor doesn't control ERHC?
I thought that Offor has the majority of the shares in ERHC so wouldn't that make him the man in charge (in reality if not in corporate position)?
Is our outlook too good for new investors?
Could it be that new investors are having a hard time believing the ERHE holdings and can't believe they are true with the PPS so low? Could they be looking at our Nigerian ownership and be put off with past scams associated with same (talking about Nigeria and not Offor)? I have only been on to ERHE for about 3 months and when I first looked at it I was shocked to think this potential at this price was available. I would think anyone remotely associated with the oil industry would be snapping up ERHE shares. Getting soaked now but believe the future will be all on this board are predicting. Can't believe that ERHE is not a hot topic on many hot lists (such as Tobin Smith et al. Past posts say we must make new investors see the value but if they can't see it for themselves they must be blind.
Mechanics of scenario?
I take it the company in question already has a great amount of shares and is selling to controlled second parties to keep price down? They also pick up shares from scared stockholders available at low prices. What other way could they do a lot of selling to keep prices down and still retain shares for future buyout attempt? Do you see another stratagem they could use? I can see the logic behind the scenario you propose is being played out now but am fuzzy as to the mechanics of the massive stock sales and continued increase in holdings of the predatory firm in question.
Rationale for .03-.08 holders to be selling now?
Why would the .03-.08 owners sell now that the awards are known rather than last week when everything was still in doubt? If they stuck with ERHE this long I just can't see them now saying times up when the big advances should be in the few months ahead (if not sooner) JMO