It is about time ERHE comes back to life.
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Great post magic. Your "rant" is welcomed and I second that rant!
TopShelf, let me give my two cents worth here.
Although, Sinopec does not care as much about publishing drilling results, they still are a part of a group of companies in their respective blocks which will be wanting results published therefore they will likely request it. On top of that, they are required to share results with the JDZ committee which has a strong need to publish good news (to increase future bidding rounds for other JDZ blocks and also Nigerian and EEZ blocks close by).
We may not get every bit of news we want as soon as it is known but I feel confident we will get a good amount of news to move the stock accordingly when good results are in from drilling.
vip, the other problem one would have is that in 20 years $5 million will only be able to purchase a three bedroom fixer-upper in the low rent area of town......
BB, give it a rest. In my view, you are going to a little extreme on your witchhunt of a new employee. It is ok to have your reservations and bring them up once but put the stick down already. Give the new guy a chance to perform. Even your track record has some blemishes in it, afterall wasn't this last shareholder meeting going to have some event, predicted by you (along with dots connected from the trustworthy "oily" posts), that was going to steal the company out from underneath us shareholders?
Don't get me wrong, I appreciate all the dd and opinions you share but maybe a deap breath is warrented here.
Enjoy the rest of your Friday.
Red,
Thanks for putting up some pictures with names to faces. The first picture at the meeting looks like official "red tie" day. LOL
Hopefully, I will attend one of the future SHM.
thanks again for providing the forum and running it.
It is very encouraging to see Addax up without news right now. Maybe they are close to announcing a "rig of opportunity". That would explain both Addax and ERHE's current spikes to new 52 week highs.
I'm all for that. Bring it on!
by the way, oilphant...was that your idea of a volume and price spike? I think the price went up .005 and about 100,000 in volume in the hours after your post. Woooooooeeee! Stop trying to guess the market. Try leaking real news that proves out to be correct if it so pleases you and you might regain some credibility. Good luck to you.
(edited note: not implying sidewinder is oilphant...just putting two messages in one)
Too funny! If the whiteboard is there, can someone take a picture of it for discussion here...LOL
You got to like the warrents outstanding (page 47) for 120,000 shares with an exercise price of $3.00. It will be nice when those are "in the money".
LMAO, let the white board deciphering begin....LOL
Other than that, a pretty impressive annual report. It will be nicer yet in coming years when ERHE has proven reserves....
good luck all
Or Parking signs??? LOL
(not trying to poke at the ERHE person who sell's them, just having fun)
Healthy pull back and consolidation and way overdue. I helped with the consolidation with my last buy for a while in my Roth. Now, stay in the red for at least today so the chart looks better (without news).
Remember when many here were watching the MM BOFA and complaining about it being a big seller. Then it finally left ask and went to .52? Now they are sitting at .99, LOL. Good place for them for a few more days at least.
Ok, ok you caught me.....so my buy is slightly above the gap. Looks like the MM's know that. It just missed and is now heading back up. I will leave it to see if they try one more time to fill it.
Actually, I think I have a high probability of my order getting filled at this point. We are in a low volume, East Coast lunch time, gap fill. We are less than .01 from my order and I doubt it will stay there long. I don't think many will fill at that point but my order has been in for a while. Let's see if my order fills first.
Ok, I just upped my .26 buy order to help "close the gap" today. Let's see if they drop it to .52. I dare em' LOL
Ok, was that the retrace when it hit .48 a few minutes ago. I was getting excited for my order in at .26 to go through today...lol. oops. back to .50
Will it be end of day rally or get out for the weekend?
I am still waiting for my order at .26 to fill...... Where is the pull back?
New 52 week High .425
Volume and price picking up. now at HOD. Sure wish I new what the excitement was all about.
I have a buy order in for a lot lower price. I will move it up if I have a good publically disclosed news for the increase. Otherwise, same ol rumor spike followed by weeks of drifting back.
Good luck all
It doesn't look like my buy order at .23 is going to get taken out today. LOL
No news spike on relatively low volume will lead to a pull back unless we hear something good soon.
I will be plenty happy if the upward trend continues but I really hope we can hear official news to create a new firm base for new investors.
Good luck all
Not to start a war with the moderators but why delete oily's message? It was not offensive to anyone specifically. It did not bash or promote. It was directly related to ERHE (if true). Oily rarely posts so they do not flood the board with too much off topic stuff.
I say let him put his pieces out there. If they come true (some day) that is great for all us shareholders. If not, then he hangs by his own credibility. Where is the problem here?
I am looking for an oily message. I need the price to go back down to my buy order (which is way lower than the current price). LOL
Seriously, no news to justify the last hour run up last Friday. I am expecting a full pull back to .20 within a week or two unless we have some news.
Any chartists out there to throw out a good buyin mark according to the charts?
Schwab showing a daily volume of 944,223. ERHE was at around 100k up till the last half hour. I suspect a news release. If someone was just trying to become shareholder of record, they would have been purchasing all day, not a burst at the last minute to drive the price up.
Something interesting must be up.
Who will find and post the news first?
locked up at .25 X .25 with relatively large volume.
Hey, I have to wait 3 more days for my money to clear in my account. Please push the price back down...LOL.
Seriously, whatz up
I don't recall the specifics of this pr. Can you post a link? Was it Addax or Sinopec or ERHE?
I see we are all on the same wavelength here...LOL
Thanks. I am not familiar with the "Punch". I will not hold my breath for the rocketing of our share price due to this news...LOL.
Maybe someone here who has a relatively good communication stance with our PR man should forward this artical to them for confirmation or comment. It does have quotes from an ERHE company source. Dan should be able to confirm or deny the comments (set the record straight).
WHOA! This is a significant artical Tryoty. This came out yesterday with quotes from ERHE Controller, Odobulu
"He added that both Sinopec and Addax have found a drill ship, Abraham, for their respective blocks. He said the Abraham had been on a re-work and would sail to the JDZ this March."
Although this didn't come out in any US PR but if this is true (which I have no reason to discount it), it sounds as if ERHE must have swung the deal to swap drill time frames so they will be drilling in 4th Quarter 2008. This is the first official message we have heard and it is from a company source. The Abraham is setting it's course for the JDZ this month!
Thank you for finding this tryoty.
Realistically, the only way a company would privately try to purchase 40% at such a huge multiple to the market would be if they intended to go for the majority. The purchasing company would probably be trying to purchase more on the market or privately through the next largest stake holders. They could slowly purchase up to 4.99% without filing the sec forms for institutional ownership over 5%. Then they could grab as much as they could on the market the day or two prior to the private transaction being announced. I believe they have 3 days to report any buys or sells once they go beyond the 5% ownership.
Any way you look at it, the pps would get very close, very soon to the private deal. Further, I still think it would be a publically disclosed buyout offer rather than anything private but it would be pre-agreed upon by Offer to confirm that they would at least get those shares.
I also don't think any deal gets struck until oil is struck anyway.
Good luck all
Quick comment on Joe's junk.
If any half way respectable publically traded company (which I would put Addax into this category) were to offer $5 per share (publically or privately) for 40% of a company, what do you think would happen instantly to the price per share of the remaining 60% of the company? Dooh! In a flash the pps would be within a few percentage points of $5/share on the open market, so why would Joe suggest any shareholder sell their shares now? Plus, he goes further to say that the shares are worth $14 in two years.
No need to comment further...
Another Shareholders Opinion
February conference - Great event and I am glad that ERHE is a part of it. It falls in line with what they have been saying for years and what most shareholders have been desiring. A way to get out in the industry and market themselves. It is a perfect location (home turf). They (Offor) probably pulled some political ties to make ERHE look more "a leader on stage" than they probably could have pulled if the conference was held in the US (another wise move). It was probably planned and paid for 6 months to a year in advance (doubtfully for it to be directly related to a planned ERHE deal such as been speculated on IH).
Speculated possible deal news - I would be open to hearing about any deal and I don't doubt that there may be discussions going on. It is totally possible that the timing could have worked out where it would be announced around the conference BUT I would rather ERHE make any announcement like this as a stand alone PR prior to the conference. They would probably get twice the bang as to not get watered down by whatever else is happening at the conference.
I, as one shareholder, am not holding my breath for anything significant to be released prior to or related to the February conference. I look forward to ERHE being a sponsor and hope they get some good press or recognition from it.
I also am not thrilled with the current share price (except I will be funding my Roth within the next month or so) but am extremely comfortable with my DD and speculation that ERHE is worth a whole lot more than the current share price. I fully think the share price can turn around and spike dramatically up as soon as there is a number of possible announcements such as EEZ auction, a different Rig of Opportunity, any new news on blocks 5 & 6, any news on the end of the investigations, even news of additional moneys gained from the 9% that came back into Block 4, a more certain date of the AA being available (out of dry dock and on it's way to the JDZ), A new CEO announcement (that would coincide with the investigations being completed), and I am sure there are a few more that others can think of.
Bottom line for me is that 2008 is looking to be a breakout year even if we don't drill by the end of the year because more than likely the rig will be on its way with a specific time frame which we don't currently have. Time to just enjoy the opportunity for those picking up a few more shares before the eventual climb.
Good luck to all,
Strategyone
mccir,
Normally I would agree with your assessment but in this case I think the pps is overly sold due to the investigation uncertainties. This could turn around (and should) at any point in time.
I agree that this will not go over $1 until announcements of a rig (or buyout/buyin news). But I also think that ERHE should get a bump any time this year with regards to the STP EEZ. STP plans on an auction this year and before they can auction I believe ERHE will get their two 100% choices. This could be a relative surprise when it goes through because there probably won't be any warning or required release until they have made their selections.
good luck to all
Maybe time to fund the ROTH for 2007 and/or 2008. I have to finish my initial tax run this weekend.
Good luck all
Jim,
I am here and I now know the name and # of the source and how they are tied to the inside information of ERHE. The company name for which this person works is in several of ERHE past filings. I am waiting for some funds to clear so I can make another purchase prior to speaking with this source. Unfortunately, I am employeed in the securities industry and I am bound by some extra regulations that others here are not.
(edited for personal reasons)
At this point, I am not sure if making the call would be beneficial as I am confident in my own research and my forward looking strategy on this one.
GLTA
All that excitement and ERHE closes in the green....LOL
someone just sold a chunk at .16. Just got a 11.5% price drop alert from schwab. Funny yet not so funny.
I am hoping to put some into my 2007 Roth too but I have to wait till January to see what limits I may or may not have. Will it still be around .20? lol
Wish I knew what the spike was about but I am not complaining...
Nice to see it continue today.