It is about time ERHE comes back to life.
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Wrong again MN. Life is only as you choose to see it! You say "Nothing has really changed except more promises that never seem to come to fruition".
Reminder of the forgotten promises that have come true:
ERHE bid on and WON additional block percentages in bidding rounds
ERHE partnered with known and world wide leaders in the oil business (albeit lacking in current deep sea exploration but nothing money and time can't buy)
PSC contracts were signed (remember when we thought that promise would never come to fruition???)
RIG contracted (simply delayed but still under solid contract)
Have to admit, no one will ever suggest you have rose colored glasses, lol.
I wish nothing but the best for you also. Enjoy your holidays.
Been a while......
It is nice to take a break from the board, especially when nothing company-wise is happening.
I have read most of the posts over the past few weeks and I can understand the underlying negative tone. I share the same pain as the rest of the shareholders that are not currently increasing their share count. I don't like seeing the share price this low either.
Another reality check:
I have been reading a lot of negative posts relating to the latest presentation.... nothing much to add. I agree, that presenter sucked! I doubt they will let him present again BUT it didn't change the underlying value of my investment (the oil didn't move). I didn't get an artificial share price boost (which is all a good presenter could have done for us short term), but I would have preferred it none-the-less. nuff said.
Now I want to touch on a topic I have seen bantered back and forth but I see a glaring and important fact being ignored (which I will touch upon last). The infamous RIG - both the ROO and the much delayed AA. I am noticing that the further the share price drifts that the further people are predicting the true drilling to begin (now some ol'time posters are saying mid 2010). Here are the facts that no matter how much we cry, we can't change:
1) Addax/Sinopec/ERHE contracted the AA for 5 firm wells with the option of 5 more for a specified price. They PR'd the facts as they knew of them then, which was the AA was going to be refitted and then another contract preceded ours. They gave an estimated timeline which I am sure they were given by the AA owners at the time. Nobody lied. Our's and Addax's and Sinopec's management did not conspire to pull the wool over our shareholders heads to think drilling would commence the next day yet they knew the AA wouldn't be ready for years. Posters here seem to think our management is somehow at fault for the AA's refitting delays. I am sure they don't like it either but this kind of thing happens in the oil patch and life happens. Get over it!
Another fact: the free world's financial economy crumbled before our very eyes. Every stock world wide (with few exceptions) is sucking wind in share price. I can hardly hold ERHE's management to blame for the world wide financial crisis. I will say that I am confident that ERHE is in a great position as the world pulls out if the crisis (inevitable eventually). They have cash and very little needed to spend it on. I am liking the carry's to production agreements even better now. Thanks SEO!
Now here's the glaring issue: OIL PRICES.... Yes, along with the world wide financial crisis, the oil prices have dropped dramatically and continue to drift downward. I still laugh at everyone's short sightedness with things being posted. OMG! oil hit $48.80 today..... we may never drill for the oil in the JDZ..... Give me a BREAK! Oil was at $30 per barrel when the largest and oldest oil companies in the world bid the highest ever signing bonus' for the opportunity to drill in the JDZ!!!!! Chevron and Exxon broke records with their bids. Part of the reason is because of the then current seismic’s and what was discovered recently in the waters close by. Guess what? We now have better seismic’s, acknowledgement that oil exists in similar structures (that are smaller) in block 1, and the oil is of higher quality (sweet crude), closer to the US's domestic shores that doesn't need to be shipped through the middle east, and there are no seasonal hurricanes to constantly threaten the flow or increase the cost over time for maintaining the deap sea platforms. Now, back to the oil prices... If any shareholder here thinks for one second that oil prices will stay below even $50 for even a short extended period of time (lets say 1 to 2 years) you may want to rethink the reasons for investing in a OIL STOCK period. In very simple terms, the world demand is simply delayed not changed forever. When world financial markets find stability, oil demand will again start going nowhere but UP! Simple supply vs demand will eventually rule in a free market and prices will again break records. That is simply a bonus for people investing now in energy stocks. You get a second chance at catching an obvious wave. Enjoy it!
Back to oil prices and the not talked about benefit of lower short term prices. Remember our AA contract for 5 firm wells with the addition of 5 optional wells? Now think about the AA’s contract before ours….. 4 + 4. Yes, 4 firm wells with an OPTION for 4 more. For those of you that think these oil prices will continue to go down or stay low for a while then the chances of the optional wells being drilled just decreased dramatically and we just cut in half the time it will take for the AA to begin drilling under the Addax/Sinopec contract. Yes, under these circumstances I would say mid 2009 by the latest. Now, what happens if oil finds a bottom and starts to rise again as world financial markets regain strength and normal energy supply and demand forces kick back in? Rig prices will again find a bottom too and many of the higher priced options for all rigs will be foregone and new contracts will be negotiated at current prices. This will increase the number of available rigs that Addax will be in a position to negotiate for that infamous ROO. Most likely at a lower cost. We know they have already ordered the supplies for 2009! Which again, is likely under contract which means there is a financial incentive (beyond the obvious) to get a ROO to begin drilling in 2009. And finally, the operator of block 3 has stated they are drilling in 2009 and they have many rigs under contract already.
2009 will be a year of dramatic proportions for ERHE (imho). I just hope that many of the long term ERHE shareholders and posters here can ride out this storm to be here when the benefits roll in. Don’t lose sight of the prize. It really hasn’t changed if you think about it.
Good luck to all
Strass and Topshelf, after listening to the presentation I'll have to admit the two of you sum it up pretty good.
I am now in the camp of: I really don't know what is going on.
Although, the investment basics have not changed. I am here for the oil. Until one of ERHE blocks are drilled we don't know what they are worth. ERHE does have a solid rig under contract but the time frame is somewhere from "2H 2009" to "2H 2010" (Bovell's slip doesn't help us much and doubt it will get corrected publically). The "not holding our breath" comment about the ROO is far less possitive that Grandur's comments or Peter's "advanced negotiations" comment.
Time to take a break from the message board for a while and concentrate on things I have more control over. I may pick up a few more shares for my 2008 Roth but will not "hold my breath" till I do it, lol.
Away for a bit.
GLTA
so if Gandur successfully gets a lower priced ROO, you will be against this??????
Don't get me wrong, I would love to see a PR about a ROO sooner rather than later and our ERHE shareprice would benefit greatly no matter what the cost of this rig would be but I am also a businessman and our entire marketplace has changed. I am willing to give Gandur another 1 to 3 months to secure a better deal.
Because we don't know what is going on regarding the negotiations it is hard to cast good judgement on the situation. I am pretty confident that Gandur wants a ROO as much as ERHE shareholders do so I think we are in good hands for the time being.
I guess we have to be specific to blow your arguments out of the water.....
Your stated reasons for the sp to go up:
"Announcement of an ROO" - this is a rumor or hope and has no basis in fact until it is announced, so according to your last email, you shouldn't bring this up for discussion.
"Belief that share price is drastically undervalued", moot point - opinion
If these are truely the only reasons you could find for the share price to go up then NO ONE would own this company. Do you think you might be missing something???? lol
Your stated reasons for the sp to go down:
"Fact that rights in blocks 5&6 are not secured" - incorrect statement. They are indeed secured by international treaty as many have pointed out to you which you ignore. They will not be any "less" secured until the JDZ tries to take them away in a court of law. The fact that ERHE has filed a protection lawsuit should actually go to the argument that it is more secure.
"Continued violence, including successful offshore attacks" - not relevant as ERHE is not an oil company operator and has no production. Further, the JDZ is in international waters, not Nigerian waters which has also been pointed out many times. If you really believed in this argument then due to the distance offshore ERHE rights are, it would make them more valuable compared to every oil company currently operating closer to Nigeria.
"SEC filings claim that investigations are ongoing and may last a long time" - no change from yesterday except that the time for any action on any specific findings becomes less likely and as stated my ERHE lawyers publically, the timeframe for any infractions has already lapsed. Old, rehashed non-news, moot point and plenty baked into the share price.
"No revenues, only expenses" - no change, already priced in. Compared to three years ago when the share price was higher, ERHE had no cash and debt. Now they have $30+million in the bank with years of current SEC FILED cash flow cushion.
"No CEO, CFO for publically traded company" - no change in years - ZERO affect on current share price. Can more likely be argued as a positive that they aren't wasting their good cash on a CEO or CFO until they and their partners are closer to oil production from their rights.
"Lack of institutional investors" - no change from yesterday and if this was an influential argument then there is no direction except UP from here. ERHE is OTC and well priced in.
"Does business in the most corrupt part of the world" - and yet every major oil company in the world also does business there and that’s where the oil is. No change from yesterday, moot point unless you want the positive argument that the majority owner of ERHE has become a multi BILLIONAIRE in the same most corrupt part of the world which will give ERHE an advantage to all other players around the JDZ as has been proven by the awards granted.
"Inability to get a rig" - incorrect statement as proven in the SEC FILINGS. hint - AA.
In summary, ERHE's partners have a RIG under contract. It is only a matter of time before they can hopefully prove out the Trillions of dollars of oil located in the JDZ. A Rig of Opportunity can ONLY move that timeframe up. SEC Filings prove ERHE has cash in the bank for years beyond the AA drilling timeframe at the SEC Filings current cash burn rate.
Bingo! The most important thing that is stated with this lawsuit action is that ERHE will fight agreesively for it's rights. The 5 & 6 is a no brainer and I doubt we will even notice the increase in expense for this one (IMHO). It is more of a warning shot across the bow for STP to notice about their EEZ rights.
This could turn out to be quite a good quarter. Maybe a ROO soon, maybe more specifics about Anadarko's drilling in Q1 2009, maybe movement on the EEZ, and who knows, maybe a surprise from Sinopec regarding another Rig. We know they have money.
GLTA
Dazzling volume for 2 rig announcements on Monday....
Ho Hum, another listless Friday.
BB, glad to see you posting again, even if we don't always see eye to eye on all things.
Good discussion going on also...
GLTA
See, we can read into these posts tooooo much and come up with opposite meanings.
"Destined to be an ERHE SP Bestbuyer!" Could mean
A) that if you buy now or before the news, it will be a "best buy" compared to where the SP ascends to.
Or B) read a different way, once news hits about 2 ROO's being missed, the SP will tank further to create a "best buy" opportunity.
If you want to build any kind of credibility, you need to post A) or B)?
If news hits on 11/3 about Two separate deep water rigs, credit goes to both SPEC and Oily (Spec rumored it first though). You struck out on the volume post though cause ERHE ended up "below average" by 70,000 shares.
GLTA
Fishdog, ditto your opinion.
Although I "wished" for greater news up till now, my primary hope for ERHE is drill ship news SOON (the sooner the better); first oil FIRST; then as the share price ascends into the multiple $, then hire the oil industry CEO & experts, make the additional asset acquisitions, list a subsidiary on AIM, etc.....
In hind sight, ERHE is lucky and is better positioned now due to lack of "action" over the past 12 - 24 months.
I purchased ERHE due to the potential of the JDZ and EEZ assets. It is really only a time game until the market determines the value of those assets. Unfortunately for all of us shareholders, the time has been way longer than expected BUT we are closer every day and I see no reduction in the future demand for the assets for which I am invested in.
GLTA
Great post tryoty!
Although everyone has a right to their opinion, I almost find it humorous reading some of the extreme suggestions. If some of these posters actually thought out their logic, it is almost the opposite from what they suggest.
If times are so bad that people are suggesting saving the salary of one employee (when ERHE has $30 million in the bank and a payroll of approx. 6), just think of all the other small oil companies that don't have $30 million in the bank and cash flow for about 10 more years at current levels. This is the PRECISE environment that we want a MR BOVELL as we might actually find another opportunity in the likeness of ERHE 8 or 9 years ago???? Who knows. That same $30 million in cash has never been as valued as it is right now for a potential deal.
IMHO, I am not that thrilled for ERHE to rush into any deal right now but I am also not asking for Mr. Bovell's head.
It is actions like those suggested that have many people in today's environment turn their "unrealized losses" into "realized losses" possibly never to be recovered again. Anyone notice with Warren Buffett did recently? Time for great deals are NOW. Buy the fear, sell the greed. Watch and learn.
This is a huge development. It's about time they changed the rules to allow for better valuations of oil company holdings.
I don't want this to start all the buy-out or buy-in rumors etc. and I actually don't want a buy-out before proven BUT this has been a major stumbling block from a fair transaction taking place.
Any publically traded oil company would have been blasted if they had offered even a low ball price for ERHE shares (say $2 - $5) due to the fact ERHE has essentially ZERO oil assets on it books. With the new rule, ERHE could actually book reserves before all holes (or any) are drilled which would allow other companies to justify to their shareholders any kind of buy-in or buy-out deal.
Not only that but this will immediately provide ERHE with a justifiable asset base for financing any number of things it wants to do (such as the other plans they talked about doing and/or moving towards an AIM listing).
Imagine the potential news announcements that will take place over the next 12 months with ERHE. Once it starts, it will be continuous for quite a while.
The only question remains is when will it all start and how many shares will I be holding then for the real fireworks to begin.
Possible reasons why said analysis is flawed:
1) Oil prices are on the way down.... Until oil prices drop below $30 per barrel and is expected to stay there for an extended period of time making in not profitable to drill in ultra deep water, I won't be too concerned....
2) ERHE will be spending quite a bit of its cash arguing for some of its rights.... do the reseach... ERHE already (with no cash in the bank) fought and won in international courts, their rights. The last PR was ERHE publically putting STP on point to maintain what has already been argued and won. On top of that, ERHE has $30 Million in the bank with no debt.
3) ERHE has 4 to 6 employees who are researching options that they might try to leverage going forward. Reality is that the employees along with all knowledgeable shareholders are waiting to prove the oil rights out. We will all be "focusing" on the % gain of the shares as the data rolls in.
4) Delays, delays, delays...priced in, priced in, priced in... Likely to be a $5 - $10 per share stock when oil proved across their rights currently trading at .20. Nuff said
5) Huge bargains to be had in the market right now in much safer securities..... yeah, like WAMU (the fourth largest bank in the USA) looked just weeks ago. Those same "safe" stocks were bargains yesterday, last week, and likely tomorrow. Nothing against them... I suggest diversifying.. have some of them too.
6) With 6 or fewer employees, $30 million in the bank, no exploratory cash flow pressure, and 40% owned and previously backed by a Billionaire... I am also not worried about finding future credit in this market....Maybe those "safe" companies need to worry more about their credit than cash rich ERHE.....
Good luck with your investment strategy.
The irony is that even if Addax over pays for the exploration costs, it will come back to them directly from production. Indirectly, STP and Nigeria are the ones who pay the extra expense of the drill ships.
Before everyone jumps up and down and gets all mad at Addax, they still have to be able to cash flow the exploration until development so it does have some effect on them.
GLTA
That's better oilphant. Your more recent messages were a little boring. We need more cryptic messages that leads us down a new direction of thought. Could you add a flag or a foreign word to your next post so we have something more to google? LOL
Keep em' coming.
Until Addax PR's a ROO at least these are more entertaining and not bitter towards another poster.
(edited side note)
hey, no current stake....that could mean XOM LOLOL
exceo,
I feel your pain with discussing this stock with another family shareholder. I stopped talking about this stock years ago with them.
I do think if the ROO gets announced in the upcoming weeks that we will see a good spike in price. I think it will break the $1 mark but I also think it will have a pretty dramatic pull back before going beyond the initial spike.
Along with your agreement of $1 by 1/1/09, you may want to make a side agreement that you will sell x amount of shares at $y price (ie. $1.05) if she will allow you to hold some shares beyond 1/1/09 if it dips below $1 again.
I am guessing that if they do get a ROO that the start of drilling may not occur until late 2008 or early 2009 and until rumor or results start to come out from first drilling, ERHE may not stay above $1 through the 1/1 date.
Good luck to you and I hope she starts speaking to you soon.
TopShelf,
I respectfully disagree. Everyone seems to have ants in their pants with what is going on in our country (rightfully so). Many also have become professional armchair Rig Crew negotiators.
Reality check. The negotiations on the ROO have likely been going on for months and months. Addax would not have mentioned anything about it during their conference call unless it was locked except for minor details. You don't think they learned anything from the last two rigs getting taken out from underneath them.....please.
Now, let’s talk about the crew. First, I do NOT know anyone on a drilling rig BUT I do know someone who works on a "rig" for international shipping. For their skill set and education, these people get paid very handsomely (somewhere in the neighborhood of 10X what they would make locally if not more). If someone goes into this line of work, they know the world is their stage. It is a chosen profession and paid accordingly. Think of it like the military. You sign up for a time frame and have relatively no control or choice on where the rig goes. Yes, if you perceive it to be a life and death situation, you can always quit (unlike the military) but generally, these people welcome the opportunity to make more money in a short period of time. They can and do relocate their families if they want (for those that have them). Also keep in mind, just because the ROO is in the GOM now, does not mean the crew is necessarily from the US. For all we know, 3/4ths of them are from Nigeria, lol.
Now, about the time frame. Just because Addax didn't come out 36 hours after the hurricane and announce a signed deal, doesn't mean they won't get it or that the rig is just sitting around doing nothing where ever it is. These rigs deals are done well in advance and regardless of a 2 day or 2 week delay in the announcement, the ROO is probably still working its current job for several more months. They are not in as big of a hurry as WE want them to be in our own minds.
My last comment here does come from experience. If you want to loose money quickly in the stock market......invest emotionally.
Luckily, I hope I have learned from my past mistakes and what I continue to see others do. I work for a high net worth wealth management firm. It is in times like these that we see a large amount of "wealth" being transferred from the amateurs to Warren Buffetts of the world. Watch and learn.
It's getting ugly in the streets.
Talk about over reaction. I guess there are some ERHE shareholders that are in panic mode also. Too bad. Still up on the year and likely to get ROO deal soon.
At some point the market will bounce hard off a bottom. I'm about 35% in cash in my diversified account (I don't manage that one myself, lol). Hope they put some of that cash to work at some point in this cycle....
GLTA
OT:
Ok, for those with a sense of humor about what is going on with the market these days, enjoy the following SNL clip:
http://www.financialsense.com/fsn/SNLvideo052005.wmv
Just think. If Ike had broken through their windows and damaged files etc. they would just have to contact the alphabet gang to get another copy of their files from the raid....LOL. What a disaster recovery plan!
just a joke folks.
huh? would that be a Isuzu NPS300 4x4? LOL
or better yet, why don't you view it and let us know what you see....
a close of up .01 on 69,800 of volume doesn't sound like wide spread glee, lol.
Maybe the chatter someone was hearing was from children without money to purchase shares....lolol.
what a day. Better up than down I guess.
are you sure that's not just "chatter" in your own mind? LOL
I agree whole heartedly. Once an actual drill ship is on the way to blocks 2, 3 or 4 the pps will be heading to new highs way before the actual drill bit hits the ground (or ocean floor). Right now I think the lack of volume shows the lack of interest as most people probably have assumed the AA wont be hitting the JDZ until late 2009 or early 2010 therefore a year of dead money. Once ERHE is no longer dead money we will be hearing about drilling results of one hole after another for several years in a row. I am planning on a fun ride. Good luck all.
I think it will take drill ship news to approach the triple top at .60 and I think there will be NO resistance due to real news then. Maybe at 1.00
just touched .40 with over 400k volume
Something might be leaking cause we are at .39 X .395 with a little volume spike at the end of the day here. Is oily buying back in? LOL
If I had to take an educated guess I would say that it is 4 wells with 4 well option simply because the next contract signed (Addax consortium) is a 5 well with 5 well option.
BUT...I disagree with the estimated time per well that most are throwing around here. If I recall correctly, it was origanally guessed or PR'd that the OBO-1 well would take 30 - 60 days. I think we got the first analysis around 45 days with the final PR coming out at about 60 days. That was weeks of analysis after the well was completed. We may not here the official results of a well drilled for 60 days after it starts but I doubt the rig hangs around for analysis before moving on to the next site. My educated guess is 45 day average including moves between spots in the JDZ. (IMHO)
Although, ERHE price will likely advance greatly from here well before we get the analysis from the first well so even if drilling in 2H of 2009 or later, it will ramp up prior too (again IMHO).
Good luck all yee patient ones.
I like the asking price on the current quote: .55. LOL
On a side note, reading the article about "blood oil" makes one happy that ERHE is in the deep water. No way to "tap" the pipe lines before they get loaded on ships.
Everyone has the right to have an opinion (no matter how wrong it is...lol). Everyone can also vent on a public message board.
My opinion is this: the share price of ERHE will reflect the future potential of the business of ERHE discounted by the level or risk times the amount of time.
ERHE is in the discovery and/or holding of rights to oil business. Until we have a near term solid drilling schedule, ERHE will not come close to the projections of either outside industry analysts or the armchair speculators of this board. Management can jump up and down and do cart wheels on the moon yet the oil and/or assets still have the same unknown value.
Once ERHE and their partners have a confirmed oil drilling rig heading for their blocks, nobody knows the exact time ERHE will confirm the quantity of oil they have rights too, therefore, time is unknown. In the oil business and especially around the Nigerian neck of the woods, there will always be a level of risk from lawsuits, change of political strongholds, potential of somebody attacking them (although I give very very low risk to this) which means the level of risk is unknown. And finally, since ERHE or their partners have not punched the first hole in the ocean floor yet, the quantity of oil is unknown.
What we have here is an equation of unknowns (oil, risk and time) therefore we have pure speculation.
I see my glass (shares of ERHE) as more than half full, albeit a little blurry and out of reach right now. I am very confident that at some point in time, ERHE via partners will find commercial quantities of oil with very secure rights to them (lawsuits without merit and STP politicians without legal recourse to their yells of unfairness for past signed deals). The clearest time frame we have is from the signed agreement for the Aban Abraham which due to delays is now predicted to be somewhere near mid year 2009 (with potential for more delays).
I look forward to the day when the three parts to our equation become known (or at least the time and quantity of oil). I feel confident that we currently have a qualified management team doing responsible management of our resources while we wait out the time neccessary to get our destined oil rig. Once we have firmed up value of our assets, then I will begin to evaluate how management is doing on getting our share price close to that value.
Good luck all.
JE
1) 458 million barrels is a conservative estimate.
2) it is on just the Kina prospect (not the entire block)
3) 14 Billion barrels was also a conservative estimate based on old data on Blocks 1 - 9.
Sinopec will disclose info.
Keep in mind that even though Sinopec might not be jumping up and down when they make discoveries, they are still under legal agreements with the JDZ. Remember when CVX drilled in block 1? Someone from the JDZ was one of the first to speak publically about the find. Granted CVX knows more of the specifics and they put a lid on the info but a certain amount of info will always get out through the JDZ.
Example Scenario:
First of all, we already know CVX did strike oil in block 1 and that they purposefully drilled off structure.
We also know that the AA will be drilling 5 to 10 holes in the JDZ and the ones that Addax controls will be publicized (they have a proven record of PR'ing their discoveries).
By the time Sinopec gets information back regarding their discoveries, they will have to share some of the information with the JDZ per agreements. By this time there will no longer be much reason for Sinopec to keep their discoveries a secret and they will likely not pressure the JDZ to put a lid on it. So Sinopec may not have the shareholder pressure to party like wild animals but the JDZ will still have the motivation to spread the word as there are still more blocks to auction off.
We will be notified, IMHO.
Looks like Addax is presenting at another conference next week also (in Spain): 19th WPC
Madrid, Spain June 29 - July 3, 2008
This will continue the media blitz on the JDZ prospects at least.
Now, who from IHUB will attend this one? LOL
Slightly OT but applies to some of the posts the past couple days:
An old man, a boy and a donkey, were going to town. The boy rode on the donkey and the old man walked.
As they went along they passed some people who remarked it was a shame the old man was walking and the boy was riding.
The man and boy thought maybe the critics were right, so they changed positions.
Then, later, they passed some people who remarked, 'What a shame, he makes that little boy walk.'
So they then decided they'd both walk!
Soon they passed some more people who thought they were stupid to walk when they had a decent donkey to ride.
So, they both rode the donkey.
Now they passed some people who shamed them by saying how awful to put such a load on a poor donkey.
The boy and man figured they were probably right, so they decide to carry the donkey.
As they crossed the bridge, they lost their grip on the animal and he fell into the river and drowned.
The moral of the story?
If you try to please everyone, you might as well...
...Kiss your a## goodbye!
I finally got the chance to listen to the Red Chip presentation and was pleasantly suprised by what was said and how it was presented. I am also impressed with ERHE's strategy to tell the story to multiple outlets. Nice to have back to back to back weeks of presentations.
Being that I work in the investment field, I can assure you that these fund managers that may be attending these seminars, do NOT go back to their offices and immediately buy. They may start researching right away and start "following" the stock (putting it on an investments teams "watch list") but it will take time to analyze the fundamentals vs other stock choices in the same industry and category (Energy, small cap., etc.). Then when they are ready they will work with multiple MM's to build an initial position over several days without trying to create a price spike (it is ok for a general rise but they will pull their order if it starts running away from them). You will find that most upward price spikes are created by the emotional purchases of individual investors (such as ourselves, lol). When institutions decide to exit a position, they sometimes get out quicker due to an upcoming event or due to a specific news item. So, don't expect a sudden upward price spike from any of these seminars but be pleased with the company for spreading the news to a broader base of potential investors.
Cudo's to ERHE's new marketing efforts!
This one has huge potential but the problem right now is that the entire Chinese stock market has fallen out of favor. It has corrected so far that maybe this is a good time to watch for another technical entry point.
good luck
OT: Sidewinder, good to see someone else here knows about The Secret. I have listened to my tapes many, many times and proven it correct on my own multiple times. I found it somewhat interesting when they discussed Belize becoming an oil producing country (I visited Belize once myself). Anyway, keep the positive attitude and believe. I have my million dollar check from The Secret posted where I see it every day, dated in August and I don't have a single doubt about it........Stranger things have happened.
I take the quote to meaning they will try to again use their political clout (in Nigeria) along with their partnership clout (Addax more likely than Sinopec at this point) and their now technical expertise or analysis to recognize an opportunity (what James Ledbetter has been working on for a while now) to duplicate (successfully bid and partner up for territorial oil rights) what they did in the GOG. Nothing magical or mysterious. Just a duplication of what they have successfully done.
It's all good.
OT kind of:
can someone point me in the direction of this ERHC Energy FaceBook profile?
I am logged into my profile and did a search on ERHC and got back a couple of people that had those letters in their names. Not exactly what I was looking for.
Is there a link or a trick to search for it?
Strategyone
According to Oily, the Eighties are next....oh, wait...that was nearly 2 months ago..LOL
On a side note, I liked seeing the base form in the 40's. I would have thought that ERHE would have drifted back further after the shareholder meeting without a buyout/buyin....
Good luck all
Ironic Twist:
Ok, remember that sore subject or "deal" a while back where Offor teamed up with Addax and swung a deal for a Nigerian oil block with a new company? Let me see, the reason he had to do it outside of ERHE was because he needed a non us-based company to do this deal. Offor started a new company with little to NO assets or value, teamed up with Addax and Addax paid the new company cash to partner with them...hmm. I wonder if ERHE could do something similar in the future? Let's say they hire someone who could start a subsidiary with relatively no assets and then use local political clout to get a deal going where they can then IPO the new entity to raise additional capital to keep a larger percentage of the total deal. Nah. That could never happen with ERHE. It must be that they are going to use all their cash up on a mining company in Timbuktu. Oh wait, the management team already nixed that idea....hmm, what else could they be thinking?