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Block 5 is confusing...
Someone here posted an article a week or so ago that indicated another company had 100% interest in block 5. At the end of the article it indicated that ERHC had percentages in blocks 5, 6 & 9.
Go figure that math out, LOL.
Thanks for the link Deuce!**
The company has made moves in the past that...
have made it unattractive as a buyout target. Offor being an extremely large shareholder is one thing that will keep all institutions away.
Also, the big dogs that have the cash to complete a buyout would rather pay more for proven reserves than pay less for unproven.
Just the facts.
Buyout - uh uh
Reverse Split - uh uh, either
You just as soon sit tight than hope for some type of move.
That's my thinking as well.**
Joint Venture.**
You must really be running out of material...
First, you intimate that ERHC is negotiating a LOI with itself and now you gonna play the "going concern" card?
As a CPA, let me tell you that that term is used very rarely. Bankruptcy is almost always imminent before that term is used. ERHC is not close to being in that neighborhood.
LOL, now everybody knows you're not a...
math genius.
ANYBODY who thought the price was going to shoot up...
if Offor particpated was fooling themselves. The share offering was a dilution of your ownership percentage which will only result in a share price drop.
To think otherwise is pure foolishness!
This deal only gets done with cash up front...
Even if it's only $3 to $5 million up front. That could easily be justified by the sig bonus and block work to date.
There will also be a full carry to production.
It helps that Tullow has been the one drilling...
in Kenya's yard and proving up those reserves.
See ERHC and JDZ.**
I expect ERHC to be going for a deal similar...
to the JDZ....A chunk of cash up front and a full carry to production while giving up at least 67% of the block.
"they have so much going in the area already"...
Google ERHC and Tullow.
There is no doubt in my mind that ERHC is...
asking for cash up front and I'm sure a lot of it. In that regard, I believe the prospective partner, who I and others believe is Tullow, will take their time and do thier DD.
As for management not trying to "hide" a deal falling through, you'd have to be an idiot to believe they wouldn't release this information late.
You ever stop to think that...
the aerial survey work maybe part of the negotiations?
Many in the oil and gas field have gone...
on for 9 months. LOI's that are shorter than 90 days normally have extensions signed and no government involvement.
90 days is the minimum and not the maximum...
especially considering the agreement will more than likely require government approval.
Weird day today...
I received an email from Balance Builder. I'll take it as an omen.
You know I'll second that motion!**
7 dusters are being tightholed.**
No way I vote to triple the authorized shares...
No way, no how!
I'd struggle to vote for doubling the current OS shares.
You'd have to be crazy to vote for either...
#1 or #2 without further disclosure of management's plans. The kind of dilution in #1 will have the share price at 3 or 4 cents Monday morning.
However, I will say they only need the 3 largest shareholders to get this passed. The meeting is just a formality.
It really seems like management is setting this company up to be taken over and not taken out.
Drop in the bucket compared to JDZ sig bonuses.**
LOL...
I'd also hope that Total...
would be the farm-in partner for the EEZ with that rig contract.
There is a lot of info in this post as well...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75619195
It was in March...
See the last sentence at the link below.
http://www.afren.com/operations/nigeria__sao_tome_and_principe_jdz/jdz_block_1/
Sorry, my mistake...
Nigeria and STP aren't too happy. See the below link:
http://www.africaintelligence.com/AEM/oil/2012/06/27/sinopec-stirs-abuja-s-ire-over-jdz,103642121-ART
You gotta link to the drilling results?...
Didn't think so!
The JDZ is nothing but an infant...
There can be no doubt with the operators still studying the information gathered in the first round of drilling.
What happens with Total's Obo-2 will tell the tale of the tape. There's a reason no information has been released yet.
I've never heard 'em tighthole a dry hole.
A large amount of gas in block 2...
Tells me total will soon be knocking on the door......If they're not already knocking.
Exxon's 2% comes to mind right away.**
My current best guess is SNP is walking...
SNP is only hanging around now until ERHC finds a replacement. Similar to Devon/Noble/Pioneer.
LOL, who ended up with the total...
participation interest awarded to the consortium? And........Who received ~$45 million upon the resale of that interest?
I'll hang up and listen!
Where's your proof?...
Please explain why the prior three members of the consortiums didn't not sell their block percentages to outside parties? Why did these percentages revert back to ERHC?
ERHC has publicly said in prior PRs that if SNP or Addax bolts the percentages revert back to ERHC. Go and read 'em.
I haven't seen a thing that even remotely supports your assertions!
Do your own DD...
Who received and resold the percentages when Devon/Pioneer/Noble left?
I know what I've read and past actions support what I've indicated.
Why don't you give me a link supporting your assertions?
Yes, you are wrong about that.**
Don't see anything to explain.**