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At a write off rate of $3000 a year my great grand kids will still be writing this POS off and I don't even have any grand kids! Worst investment in my life. This stock is a heart breaker and a ball buster. Run while you can.
fools and their money are soon parted.
All this talk about what Offor is going to do is ridiculous. He is a shareholder like us. He is not an officer anymore. The only control he has is whether or not he is going to sell on the market or buy on the market. He is the major shareholder yes but he is not on the board of directors. He cannot fire PN. He can call for a vote and being the majority shareholder he can vote him out. Also, tryoty mentioned that he is $30M down. That is in US dollars. His billionaire status is in Naira. How much is he down in Naira? 604 Million Naira! That will be a much larger figure to him and more meaningful. I think he is like the majority of us in that he is sick to his stomach how his investment has been beaten down by an incompetent CEO which he had hand picked to begin with. I don't think he wants to throw anymore money into this Pig Sty. He may have to float ERHE a loan just to keep the company afloat until drilling. God forbid if we hit a duster in Kenya. If that happens PN better brush up on his butler duties because he will be serving Offors family for the rest of his life.
Krom. I believe the wives are the ones putting on the blood bath party and I guaranteed it will not include any of their blood! better break out the jockey cups!
I hate to admit but I agree with you on this one. We are still at least a year away from drilling and are hanging on by finger nails. It has been my painful experience that this board is filled with pumpers and dumpers. They blow so much smoke us our a() that it could fill a hot air balloon. They just keep telling us to buy more while they are desperately trying to sell to get out of their position or short the stock. I figure my shares are toilet paper now and I regret ever putting a penny in this pig. I saw the same thing happen on PBLS. Many people on this board was snookered on that stock as well. Now this stock is free falling the same way. Buyers beware. I would also like to apologize to all my family and friends that I convinced to get into this stock and now they have lost their hard earned money. One of the biggest regrets I have ever made.
The EHRE donkey that was chasing the carrot mirage is on his knees and his swollen tongue is hanging out! Somebody throw us donkeys a carrot!
Shades of PBLS. I should have remembered the whooping I took on that stock and sold this pos when I still had a chance. Now this stock is doing the same and I am way to far under to even consider selling. More wall paper it looks like. This stock is not for holders. It is for traders and the ones who made out the best were the shorters!
You guys are forgetting what happens when good news hits this stock. Bag holders start selling immediately to post gains and thus keeps the stock held down. I don't see this stock ever getting above a dollar for that very reason. Just look at the history.
looks to me like that someone is pretty smart. Drive the price down so the company can't sell any stock to make it worthwhile and let the company go broke and file bankruptcy. Then step in and take over the leases for a song and we are left holding the bag. By the way my bag is so deflated it think it is attached to one of those vacuum sealers! Shades of PBLS all over again except my losses are far greater with this one. And don't tell me to buy more to average down because I did that faithfully until I have lost so much money I could write off the losses for the next 200 years! Makes me sick to check back in and see this pig at the brink of extinction. This stock has always been a carrot leading the donkey to the point that the donkey is lying on its side dying and still trying to get the carrot with it's last breath! How much money does the company have left in the bank? They have to be on fumes by now. Toxic fumes at that.
The way this stock is going you will be lucky if you are not on the corner selling apples for a living! It feels like we all have taken a bite of Snow Whites apple except I do not want to wake up from some crusty dude giving me a kiss to wake me up! I would prefer Snow White do it. LOL
we have all jumped on a bandwagon being pulled by a turtle! The donkey chasing the carrot died long ago and Peter switched over to the turtle as that was the only thing left in the race for oil in our blocks. The stringers covering the JDZ have all retired and gone fishing and the sirens gave up singing for a new career in selling bit coins! I am so long in the tooth on this stock that I now look like an old walrus!
The suction has been too great to get out!
Thanks alot! Just looking at all the math equations on the first one will give me college flashback nightmares for weeks! LOL Glad I am not having to interpret the seismics!
I just check in now and then. Watching this stock is akin to watching paint dry. We may have a dog in the hunt but it is an old hound dog that likes to take long naps and not much interested in the hunt anyway!
I just noticed we gave up 2 out of the 3 blocks in Chad and reduced the signature bonus from $6,000,000 to $2,000,000 to be paid. Chad not looking so bright right now.
It stands to reason that the partner is already approved otherwise why would they pay for the FTG if they are not going to participate in the block? ERHE can't pay for it and it is already completed and they are getting ready to start 2d seismics. So why haven't they announced who the partner is? Smoke and mirrors show again.
they are not going to use thumper trucks. They will just stampede a herd of goats over the area and go with that seismics! That way the locals will get some money as well.
The string of Pearls don't look anywhere close to our block.
Thanks Doc. Merry Christmas to all! waiting for the kids to get up to get things going! LOL.
any smaller and ants will look like giants to us!
Yep. If we're not carried we're buried! There has to be more to the story. I hate fly by's without details. Info is appreciated but it still leaves us frustrated with a lot of questions.
after they get the ftg results they have to study them in order to determine where they will do 2d testing. Then they have to study that to see where they will drill. Then they have to contract a rig so I would not count on any drilling for at least 2 years. Not to mention getting a committee together to study the adverse affect the activities will cause on the local goat population.
It looks to me like the aquifer is in Block 11B and not in 11A at all.
page 28 and 29 of the Bowlevin report have interesting graphs. The FTG going up to block 11A looks like some nice overlapping of good stuff (don't know what is good but it looks good anyway!) Thanks for the visuals. page 28 shows move of the topography and it looks like the only mountainous part of block 11A is in the south. Block 11B has a lot more thru out the block. Looking at the blue area on block 11B towards the center left side it would be in the non-mountainous section of our block and a nice overlap into our block. It will be interesting to see is ERHE puts up this kind of graphics on the website once they get the FTG results.
maps are nice but until I hear the words commercial oil coming from our block 11A then closeology only counts in hand grenades and horse shoes as we have sadly found out in the JDZ. We were only 15 miles from a world class field there and what did that get us but a belly full of bad gas!
Just in case you were thinking it I was not kidding about the goats. I know they are their livelihood. That is why I suggested 50 goats per family. That way they would have more than enough to take care of their needs and even feel wealthy. Getting paid for the goats to graze the oil company lease makes it even better. Win Win for everyone.
That would work too. They could study while herding the goats. Put a school at each work site while the goats graze. Invite the whole village etc.
I say give each of the families 50 goats and they will all be rich! That is what they base their lives on anyway. The one with the most goats win. Feeds their families and gives them everything they need in life. Send them some goats with pedigrees and tell them they are worth $20,000 each for breeding stock etc. Then they can have the goats graze the oil properties and charge the oil companies for mowing the lawns and fertilizing etc. Everyone wins! Then they just need to drill a well for water to grow the grass etc. Win Win.
The big question is what were their jobs exactly? I can't imagine the locals being up to speed on oil producing expectations. Do they just pay them to herd goats to keep the weeds down on the drill sites? Are they even big enough and strong enough to roughneck? Drill sites are dangerous and hard physical work and only well experienced people should be around the site. Just wondering.
It's not ancient history. It is still an ongoing concern. The JDA has not announced it is dead and they have not announced the withdrawal of Sinopec etc. Something about that stinks. Besides it was highly touted by Jeff Shrull who was the lead man for ADDAX and called it a King Maker/Company Maker. Many bad memories on the JDZ still linger. Hopefully they will get it right with Kenya. That is why I am staying put. No buying or selling until boom or bust time.
ahem.... JDZ not withstanding. Lucky for us (so far) PN got us Kenya and Chad just in time. Jury still out on if they can hold out long enough to get one of them drilled and tucked away.
I hope goats don't age like dogs because the goats will be like 100 years old in goat years by the time this stock does anything!
I think PN is trying to work a deal with them for the goats as we speak! LOL
Vince, you don't have enough ooooo's in sooo long! This stock forces you to change the definition of patience. According to PN it could be weeks, months, years it's all the same. LOL
it means when you start way at the top of the head and you end up at the tip of the toes!
Thanks!
I am sorry but I could not find any reference to CEPSA and ERHE or Block 11A. Can you provide the link?
link please
My guess is the way it is worded the LOI fell thru so they are planning on going forward with the study anyway. How are they going to pay for it?
The way ERHE goes about doing things they will probably just strap the equipment on the back of some goats and let them graze the property for a while! They probably don't have the money to do the job as they are on their last $4 mil which will only last another quarter they way they spend.