It is about time ERHE comes back to life.
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The Dane, I think the correct term is "traders", not "bashers". They were busy performing their art the past few days. The same traders will be back again telling the longs how stupid it is to hold shares in this.... afterall Nanogas (or whatever) said it was worthless before we started drilling....lol.
Ask now at .719 .70 just went through.
Time to seriously cover those shorts and also time for the traders to try and get back in.
Good luck all
I do not promote Oilphant's posting as either legitimate or not but this is by far the funniest picture he/she/it has ever posted.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47387982
Thanks kobiashi, lol. I was wondering if I was the only one who was reading the clear writing ERHE has been communicating all along and not trying to connect mysterious dots or reading between lines. I tried something complete different. I read the actual wording.
Good luck to all
Nightdaytrader,
Anyone can throw out any example and I guess it is possible what you are saying. Why don't you spend two minutes to think about this scenario:
ERHC Energy forms a new company called Company X. Company X goes public or does and IPO on the London stock exchange for 40% of it's shares for $40,000,000. This is done on the business plan of some deals already inked or about to be for NEW properties in and around GOG due to Offor's connections (similar to Starcrest deals). ERHC Energy owns the remaining 60% for spinning them off and setting up the corporate structure and using its own business model......
BINGO, you just enhanced the assets of all the ERHC Energy shareholders by duplicating what was once done by ERHC with its JDZ and EEZ assets.
Let me see, SEO still gets new money, and he doesn't start a new investigation or get sued in the process......
My scenario is much more likely than yours. Why do you suppose this scenario sounds so familiar.... maybe because it is pretty close to what they have been saying for several years now but nobody has caught on yet....
Oh Damn! Guess I can't quit my day job yet....
What happened to the promised land hitting today?
Oh well, another day in wait. Ok, maybe another week or Fortnight for that matter.
None-the-less, I invested in the assets and it certainly sounds like we will know something soon. We just don't know for sure, when that "soon" is. I do know that the assets didn’t go down in value today even if the share price did. So I don’t let the dips bother me.
Thanks to all who provide their honest efforts, analysis and research. This includes Markgovols even if his efforts create an opportunity for the traders to make a buck or two when the timing isn't perfect. I, myself, will admit that I don't have the skills or the time to trade successfully off the emotions of a message board. For those that do, I guess you had a good day today and there really isn't anything people can say on this board to stop them from doing that so . . . . everyone just keep you head up and try to refrain from starting arguments with the apposing view as it won’t change their minds nor their trading patterns. Just as the traders had their day today, the longs will have a few great days to come when the real news hits.
Good luck to all.
Do you also believe in that picture you see in your grill cheese sandwich today? lol
That is not the person I was referring too. Look for the other person in a robe which is much younger and bigger.
Since SEO went into low profile mode, I could see them not posting his name but I still think that person looked very similar to pictures of SEO.
Check out the similarities to:
http://www.internetworksolutions.net/Aboutus.htm
I had the same question. If I had to guess, I am thinking SEO was the one in the yellowish/white robe and the special hat in several of the pictures 3/4 through the slides and standing next to Howard Jeter.
Can anyone confirm?
Interesting old (2008) artical regarding LNG and Chrome,Addax and Korea Gas Corporation (KOGAS).
http://thechromegroup.net/index.php?sfish=20&fin=2
Just a good read for the "gas" side of this equation and the connections ERHE already has.
That is a beautiful quote for the day LOL!... thanks for the laugh.
.71 resistance didn't hold long. That may become the next pull back floor..... now at .73.
nice first big step in a long...long...long time. Hope you are still holding some EXCEO...
2.5+ million in volume and .68 per share.... not bad with just under an hour to go in the trading day. Volume still pouring in this late in the day.
IMHO, this is a bit beyond our friendly IHUB family now.
Big insiders are not buying large quantities yet though.... When news gets closer, I expect at least 5mm in volume in a day (IMHO).
enjoy the day all holders
sure oily.... .88 per share. lol
well, you will probably be as right about that as your usual predictions.
I am more interested in seeing the word "commercial" in an official PR. LOL
Maybe someday
Pinecat,
Chude said ERHC would recieve 15% from any two blocks (unsaid was any two blocks that went out to bid). The first 5 blocks (all 100% of them) were reserved and not available. I am pretty sure Chude assumed we all knew this. That is why he didn't say anything wrong. It is just how some people twist the options when there really isn't any logical way to twist it.
We will all find out soon enough.
pinecat,
It is all in how you read it.
The 15% is not available in the first 5 blocks reserved period. STP reserved the FULL 100% of the first three blocks. They have given 2 of the reserved 100% blocks to EEL (think - nothing left here). They have retained 1 100% block (again nothing left if they give that 100% reserved block to a company in exchange for something.....). Then 2 more 100% blocks go to ERHE.
Now after these 5 100% reserved blocks are pre-selected, ERHE then has their choice of 15% in any block, paying it's proportionate share of signature bonus........
Here's where the simplicity is a dead give-a-way. If STP reserved the first 5 100% blocks - Gave two blocks to EEL, two blocks to ERHE and just for argument sake, the last 100% reserved block to Chevron (I know,,,, not likely), THERE ARE NO SIGNATURE BONUS's being paid on the 5 blocks so how could ERHE pay their proportionate share?????????
It really is as simple as ERHE gets 15% on two blocks of their choice, of the blocks that go out to bid. That is the only way a signature bonus occurs.
People don't try to over analyze this stuff. Keep in mind the preferential rights are just as simple as they were originally intended.
Following are the facts:
ERHE was given 2 100% choices AFTER STP's 3 100% options. STP gave 2 of those 100% options to EEL. So, ERHE gets picks 4 & 5.
The two 15% picks are AFTER the first 5 100% picks are gone. There is no option for ERHE to pick 15% in any of the first three block preferential picks (like some keep bringing up). It is very simple. ERHE gets their choice of 15% from the then available blocks AFTER the first 5 preferential picks are chosen.
Next simple issue: STP's - 3 zone issue. NOT AN ISSUE. It was written into the original preferential rights that STP can not do anything to lessen the value of the preferential picks. Therefore, the three zone's only apply after all preferential picks are selected (including ERHE's 2 15% by the way).
Just sit back and relax. Everything will work out no matter what the nay sayers stir up.
I would guess that if true and they postpone the update until March it would be to provide solid plans with a timetable for the next phase. Maybe they are beginning to negotiate for drilling rigs for the next phase and they don't want to say drilling in "May" until they have the rigs lined up.
Who knows. I won't believe it until I see it. Too many unknowns and delays to date.
Ok, I just read Joe Shea's blog. Something doesn't smell right from that whole story.
According to the blog, Jim Ledbetter was fired in Dec. 2008. Also according to the story, Jim Ledbetter talked to Joe Shea on the phone as said "they found a lot of oil". So, when did these phone calls take place? Jim was fired way before they drilled the wells so Jim could not have quoted that information back when he was fired. Now, if Jim somehow found out that ERHE/Addax/Sinopec etc did actually find a lot of oil, then go buy the stock and quit your whinning! You are about to drastically improve your wealth..... If nothing else, Joe Shea can repurchase the stock and get off of food stamps...lol. That is all we need, Joe Shea costing us tax payers more money by getting government support...
Either Joe Shea is greatly mixing his time frames of conversations with Jim which is very misleading or he is making this stuff up.
Either way, ERHE should be valued on the oil discovered plus future potential oil. Now, according to Jim Ledbetter, there was a lot of oil found. Great, another source to confirm good news is coming.
Good luck all
This is kind of funny. No volume and quite a jump in sp. MM's pulling a joke or something????
Anyway, if you really step back and take a look at our situation, it is certainly a lot easier to be up some 500% since last December; we have 5 wells drilled (one being completely optional which certainly bodes well for what they found); the EEZ right around the corner for which we will get our picks before the auction; and we are waiting on the analysis of hydrocarbons FOUND (not a single dry hole).
Not been too bad of a year afterall......
Merry Christmas to all and a happy and safe New Year.
Going skiing in Colorado next week so enjoy the last week of the year...
Strat1
5 minutes to go and it aint lookin so good for ssc's opinion....
Maybe another PR after the close or something???
edit: just hit .69
So what kind of gas do we have? lol
dest_golf,
You certainly have the right to your opinion. You say that "it answers no questions at all. nothing specific....".
I don't believe the intent of this video was to answer specific questions in detail about the specific opportunities that were released in the PR. I got the impression that this video was released to address the general concerns many were expressing about "marginal" fields and how people not directly involved in the oil industry may take the term "marginal" to meaning bad or worthless.
This video link gave me a positive reaction to management communicating about an issue that they can actually address (unlike the drilling results in the hands of the operators right now). It showed to me that they are back working on their plan to do something beyond the JDZ and EEZ. It showed me that they were knowledgeable about the Nigerian marginal fields and since it is in their (meaning SEO and Peter's native) backyard, I am going to give them some latitude to understanding this business environment better than I do. He also provided examples of successful marginal field developments in that region (Gabon, etc.) so they have something to compare to.
I was impressed with the timing and quality (going video) of managements response to potential concerns on this specific strategy. Keep in mind, I still put a majority (if not all) value of ERHE in the current assets in the JDZ and EEZ. Once some of these assets are proven and built in to the share price of ERHE, I think a whole new game or analysis begins with the future of ERHE.
I am still waiting on JDZ drilling results…..
Good luck and happy Thanksgiving to all
Nicely done. Current investers should review this video clip.
Strass,
I respect your concern and your doubt about ERHE's management.
Before an investor makes a major decision, I would think they would want to analyze the basics of an investment and what changed in order to make this major decision.
I know I invested in ERHE because of the rights to the potential oil in the JDZ followed by the rights to the potential oil in the EEZ. I have risked my invested dollars for about 8 years in this investment to hopefully realize this oil value. Now that ERHE's partners are about to complete their 4th drilled deepwater well, I will be waiting for the results whether they are commercial or not. It is that simple.
If commercial, the share price will likely increase a considerable amount. How much is anyone's guess but think about the fact that ERHE will be able to disclose on their balance sheet the NSAI numbers as soon as they can prove up commercial quantities are down there some where. Whether there is a "buyout" or a "buyin" or a "build this company to production and beyond" plan, will only change how quickly the share price increases and where it settles. If commercial, it should be well above today's price. If ERHE is bought out, the present value of the future potential will be priced into the deal and everyone would be cashed out early (albeit at a lower value than the longer term plan...)
Now let us analyze today's PR and what changed to the basic investment. ERHE PR'd about two years ago that they would be looking at potential investments in other producing wells in the oil industry. They hired their expert who has been researching and analyzing potential opportunities for quite some time (by proof of today's announcement). They really haven't changed the "worth" of ERHE in any sense of the word by the actions taken to-date along this venture. Today's PR was not a notice of a transaction. They may analyze this for 3 months, 6 months, or longer. They may decide to do nothing in the long run. Without the details, I wouldn't know if that is a good decision by management or not.
I am invested in ERHE right now to hear the results of the oil potential in the JDZ (short term). I fully expect to hear these results well in advance of any other ventures the company decides to actually sign on to. This should (IMHO) dramatically change the current value of this investment to then allow me to reanalyze whether I would want to take part of or all of my investment off the table with regards to these other ventures.
I know it is challenging to wait. As I see it, nothing changed today to the underlying potential value of this company. I will wait for the OIL.
Good luck to all in your investment decisions.
Well that was a good shaking of the weaker hands.
A lot of whiners out there today. With a little intelligent or logical thought, it is all for not.
First, there are a few people who are stating outright how bad a deal this is…..? Really? Are you serious? NO terms were disclosed on even a potential deal therefore, how do you know? It is simply a MOU that they are talking seriously. Save your arm chair quarterbacking until you get some terms to evaluate.
I am not jumping up and down for ERHE to do something like this but with SEO's history in making deals and the fact it is in his back yard, I seriously doubt he would be making a deal that turned out poor financially for his 300+ million shares… I’ll give a little latitude until I can see some terms. Just think of some of your responses if SEO turned up behind a potential deal like this and it didn’t involve EHRE. There would be another crowd yelling why not us?? Too funny.
Bottom line is the OIL in the JDZ (and later in the EEZ). The value of ERHE share price will be reflected when full details are disclosed.
At a minimum, I take this as good news as some others have pointed out. If we weren’t getting close to knowing what is in the JDZ, this type of deal would not be worth pursuing yet.
I still fully expect news of drilling results in the 4th Quarter (down to 5 weeks left) as they have PR’d. Hopefully, this news will include details such as pay zone size, pressure etc and maybe even the next steps needed to move towards production. All we really need is one word…COMMERCIAL!
Think of it this way. With a PR in the 4th quarter of commercial quantities of oil hit and with the NSAI numbers, maybe ERHE needs a small well in production to book it’s overall assets on the balance sheet from the NSAI numbers and thus allow a company like SINOPEC to justify a purchase price of $8 Billion dollars….. Oooh, maybe the dot connectors can run with this one for a while….
One day closer to knowing about the OIL!
Strass,
You certainly have the right to follow your gut and take the actions you describe.
One simple question though: since the official company release says they will update the shareholders when Sinopec releases the information and "Sinopec has announced that its drilling results might be released in the fourth quarter", why are you pushing your timeline of the end of November?
IMO, it sounds like you are putting the cart before the horse. I am all for holding managements hands to the fire, but I believe they should be given the timeframe that has been publicly released regarding the drilling results.
I think you need to do more research. The NSAI numbers are only for the prospects ERHE identified as prospecitive drilling sites scheduled. It is NOT for all the sites identified in the 14.4 billion barrel estimates for blocks 1-9
tryoty,
the 14.4 Billion once used was a total of ALL prospects based on seismics at the time. The NSAI numbers are ONLY for the specific proposed drilling sites and do not include the many, many other prospects. I believe they are both conservatively understated as they should be at this stage.
Balance,
I don't disagree with your thoughts of wanting a new BOD member but why email the hired PR spin man?
Email the company! Not the guy hired by the company to only say what the company wants him to say.....
(No offense intended Dan, lol. You do fine with the limited information you are given to work with)
I'll only take the naming credit if it contains at least an elephant or more.....
My vote is to drill "Strat1" after Kina South....lol
If there is "nothing" to leak, then that alone is something to trade on and make money. Since we have no volume and no price swings in any major direction, that means there are NO leaks at this time. This surprises me but at this point, there isnt much time to wait until the companies themselves start putting out PR's on results.
I still say volume and price will show up days before official word.
emdyal,
I don't define this as "tight holing" yet. The Chinese and Addax and whoever else have been on the two rigs, have shown us their ability to keep a secret as they are supposed to but I am very confident that the results will be made public any time between now and 30 days from the completion of the two wells. If they didn't publicise the analyzed results, then it would be "tight holed".
Waiting patiently with the rest......
maybe that is what is taking an extra couple of weeks????
Great example of how ERHE has historically gone after excellent seasoned talent and able to get them....
This is a great example of why I think ERHE/SEO will do well once oil is proven.
Great update Mark. Thanks.
Oh, and by the way. none of this is insider information (IMHO) unless you found out and specified feet of net pay; potential comparison to NSAI numbers; any reference to proven reserves (which is unlikely with a single well).
Thanks for passing along the positive message.
Strass and Fishdog,
What Fishdog said is exactly what I have felt the company is doing all along. They have wisely waited on going to fast in building the company before their current assets are valued more fairly.
As soon as proven reserves are able to be booked on ERHE's balance sheet, the company will have the leverage to solicit either investment or bank loans to go into the next phase of building a more sustainable long term company. There will always be the possibility of a buy out at any point along the way but it was nice to hear from the company that their long term plans were to leverage itself and purchase revenue producing assets to diversify the holdings.
I also feel very confident that ERHE (SEO) will do the right thing going forward with management. If you really analyze what he was able to do (who he was able to recruit and when) with the limited company that ERHE was years ago, you have to give the man some credit. Look at the caliber of the outside director(s) and the few executives he has brought on in the last 5 years with oil experience from large oil firms. Once ERHE has the proven reserves and they begin building the company going forward, I would bet ERHE will recruit several high level execs from companies familiar with what is in the GOG like from Addax or Chev or XOM etc. The potential 1 - 5 year gain will be hard for a seasoned and knowledgeable oil exec to pass up (IMHO).
It is almost time and I am confident they are on the right path ( I am all for a buyout at the right price too though..lol).