It is about time ERHE comes back to life.
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So what time does the usual Thursday BM occur (EST)?
I can't imagine BM would have much more to say this week except to confirm that signings are now scheduled for 3/14. He has already speculated Chev. meeting with ERHE but we haven't heard anything since. I don't think we have had enough volume to justify any rumor yet so I am not expecting anything but "hold steady" tonight.
Good Luck All,
Strategyone
According to my real time, the bid and ask are both sitting at above the close. Is there more news coming out? This action is suspiciously like insider knowledge unless we are just seeing some of the effects of the ERHC Energy logo on the front page of upstreamonline. Nice exposure.
Impressive recovery today.
Seeing that JS sold all his shares today at the open and at the low of the day, followed by a recovery 20% higher than his sell, kind of brings balance back to the world huh?
Seriously, I wish no harm or misfortune on JS but I was not impressed with some of his blogging opinions as of late and maybe now people that read his blog can give the same credibility to his predictions as to his recent trading record. Just stick to the facts and sometimes the blog provides good information.
Back to the topic, ERHE. As ironic as it may sound, this additional fortnight delay may put ERHE in a better position when the PSC's finally get signed. By 3/14 the JMC/JDA may be in a more comfortable position to buy off on Sinopec for block 2 and we also may here more news from the Block 1/Block 2 straddled discovery. We may hear rumblings of more meetings with Chevron (which I think will have to happen since any straddled discovery requires the agreement or working arrangement between the two block operators). So, regardless of whether Chevron is trying to outbid Sinopec to operate Block 2 with ERHE or not, EHRE is in a position to benefit from whatever terms come out. Imagine the headlines when ERHE is in PR's from both Chevron and Sinopec.
I am still hoping for the Sinopec deal to go through because I think the Chinese will pay way too much in comparison for the access to this oil.
Good Luck to ERHE longs,
Strategyone
My guess at what happened, what is happening and what might happen by Monday:
Some other posters have mentioned everything from conspiracy theories to fraud to bribery etc. I think it is much simpler than most are making this out to be. I think STP was not so happy to have Nigeria kind of force the day (back a month or so when the STP AG report came out and Edmund Daukoru came out with strong words dismissing it and stating that it was STP internal issues). I think STP came over to Abuja for the time period of yesterday through next week while they worked through the 5 block PSC’s and with the idea of getting as many signed as possible. I also think that STP is feeling uncomfortable or a little out of control because of the Nigerian Indies that have been included in all the awards. I think even though ERHE is a US security, STP thinks of it as a Nigerian company (which it is primarily since it is controlled by Emeka Offor) and they probably feel jealous that Nigeria not only is getting 60 percent of all royalties but their country is benefiting further by Nigerian companies getting a piece of each block. So, now STP gets to the meeting and the JMC is ready to hand them the pen for the big splash signing party (which happens to be held in Nigeria). STP says they would like to read all the details of the finalized JOA’s (which they probably have the right to be curious about since Addax was added very recently and they may have even been tipped by Conoil [as alluded to by Meridian of I-Hub fame] as to them not being happy about the final JOA deal). Nigeria says “what???, just sign the papers. That’s all you’re here for….we’ve already agreed to the PSC terms.etc.” (I am guessing to what was said. I was not there.) STP starts being pushed into the corner further and therefore does the only thing it can…..refuse to sign. Now, notice that when the signing ceremony was aborted for the day, Edmund Daukoru came out and said similar strong comments against STP as when the AG report came out…"This is very, very embarrassing ... It is not good. It does not send the right signal to the outside world in terms of doing business ... This is not how to do business and Nigeria is not happy about it,". This was Nigerian’s play of their hand. Notice we did not hear from the STP delegation or other JDA participants. I think Daukoru was making those comments to send a message back to STP (Pres. Menezes) hoping that they put pressure back on the STP delegation to fold or in this case, sign the PSC’s without further issues.
What will happen this weekend: I doubt the STP delegates are jumping back on a plane and running away with their tails between their legs. I think they hope to buy more time to review the JOA’s. What we don’t know and may never know is if the STP delegation either has the JOA’s now or will get them for reviewing this weekend while they are in Nigeria. There likely will be some closed door meetings and private phone calls going on well into the night and weekend to somehow find a resolution. Or for you conspiracy theorists….some good bribe money or future promises are being exchanged as we ponder, LOL.
By Monday, I think cooler heads will prevail and grandstanding by both sides will die down and they will get the Block 4 PSC signed so they can begin looking at the next blocks for signings later in the week. I also think this will all happen before the stock market opens on Monday due to the time difference.
Let’s all take a minute to realize:
1) They have gone down a very long road at this point to throw it all away.
2) STP is desperate for the money
3) Everyone knows that Chevron has hit something “interesting” in block 1 and it is sooooo interesting that they are having meetings with the announced winners of block 2 (ERHE consortium) due to overlap. This means OIL IS THERE.
4) Neither side came out and is saying anything bad about the PSC’s or the announced winners of the blocks.
5) And finally, notice how strongly Nigeria/Daukoru is coming out and backing ERHE and their assorted consortiums "Whatever the partners do internally is not the business of the state partners (Nigeria and Sao Tome)”. This, I read, as a strong message which should reassure the true long-term shareholders of ERHE.
One final comment… I also got a little chuckle out of JS final comment in his blog today saying that he sold 8400 shares into the close. If events truly unfold similar to what I said above, ERHE will gap above today’s high and rapidly break $1 IMHO.
Good luck to all and as usual, comments and discussions are welcome.
Strategyone
walldog0, another irony to this whole fiasco is that if STP would have signed the PSC (which they know all about and is the profit sharing contract between the oil companies and the JDZ countries), they would then be able to review and scrutinize the JOA's all they want. Once the PSC is signed then the JOA's become valid and material and must be publicly released for both ERHE and Addax. Further, the JOA's are just what you said, an agreement between the oil companies that the countries can not do anything about. Not only that but these JOA's are probably changeable if agreed upon by all parties.
I'll go out on a limb again. I bet Block 4 PSC gets signed tomorrow.
When the STP'ers get back to their hotel rooms tonight and they phone home, the reception might not sound too good for them. I would think cooler heads will prevail and the party never gets on a plane before they get another opportunity to sign tomorrow.
One last note: Now we know why that rumored $50mm wasn't going to be invested until signing was complete.
GLTA
Strategyone
Sooo, who thinks we are on for signing the rest of the blocks next week?
Touche' Mongo..... I have to admit, I even laughed at that one.
This is absolutely Un Ef###ing believable. No, I take that back, we should have EXPECTED this! Talk about pizzing in the party punchbowl.
Since I am in this for the long haul I actually am laughing at this. Try to envision today's event...... a signing ceremony to solidify millions of dollars in upfront bonus money for STP and Nigeria....STP pulls such a bonehead move that Nigeria basically threatens war.....then the cerimony is broken up. Where is James Bond when you need him....swoop down and swipe the documents, force the parties to sign and go crashing out a window to a waiting car on skis or would that be a surf board in Nigeria....
Back to the drawing board (and that is literally for people on STP)....too bad
Strategyone
Ruby, thanks for the Upstream update.
Wow, how does BM get info like that? 636 million barrels and they won't even admit they struck oil. If only us plain investors could get info like that....LOL
I am going out on a limb here and speculating the uptrend will continue...LOL
Good Luck to all Longs
Strategyone
OT ... For what it's worth
I too was taken by the KLYS debacle. I also think along the same line as TheDane. I think Red got caught up in the Reverse Merger excitement and also got a little too close to the shady Surber character. I truely think Surber used Red in the end. Surber made out like a bandit that he is. Red probably made some money too but I credit that to his ability to sell during the runs rather than holding till the end of the rainbow.
GLTA
AussiePup, click on the "ERHE Energy Inc. (ERHE)" link above the post you are reading to get you to the Message list. From there you will see an option to Post New Message.
Walldog, I think you should set a price point (like $5 pps) or action point (Drilling strike in block 2, 3, 4 etc) and then send a complimentary ERHE parking sign to the STP Attorney General and another one to Trovoada but please wait till the PSC's are at least signed.....
Be careful of Mongo's stripes......repost from RB board
** Extremely Disturbing Information about Mongo **
I normally don't spend much time looking into old posts as Mongo so loves to do but when oilman57 asked the question of where are Mongo's old posts, I was curious so I looked.
I opened up his profile and sure enough there are many posts on the EHRE board but "0" on the ERHC board. I thought I would give him the benefit of the doubt and I thought maybe RB erased everyone's beyond a certain date. I scrolled through pages and pages and there were many old posts from known posters here but no Mongo posts. Then I thought, maybe he wasn't here yet so I started reading the headings for the posts and lo' and behold, there are a bunch of posts from other RB posters with "Mongo" in the headings. For the record here are some of those from the ERHC board: 101496; 100930; 100425; 100454; 100269; 100267; 100257........ These posts are obviously addressing comments made by Mongo yet his original posts are not there. Why?
So let me get this straight....Mongo bashes endlessly on a company he will not admit to owning. He loves to hound on the SEC filings by ERHE for their mistakes which by law, ERHE can not remove from public view. ERHE makes corrections to their mistakes (as proof read through the latest 10k about the share count mistake that is now corrected) yet Mongo doesn't mention the very point he bashed for years. When a poster points out one of the many issues that Mongo has been wrong about, Mongo asks for proof from old posts. This is done to bring in the question of credibility of the poster reminding Mongo of his mistakes. And 'POOF', his posts are gone.
I find this incredibly disturbing and this really brings to question the motive behind Mongo's bashing. How does he get the power to inform RB to when and what posts are removed. This has got to be bordering on illegal. If not, it should be. For years, Mongo spends day after day twisting facts, avoiding direct questions, changing the subject when proof doesn't go his way. Mongo creates doubt with cleverly designed questions and posts from other people’s historical posts, yet his choice of historical posts are removed.
Maybe the SEC should be looking into posters such as Mongo. Talk about stock manipulation and hurting the uninformed. So now when a potential new investor reads information on the RB board and notices differing points of views, they only have the ability to see a legitimate posters historical records and not that of the opposing or bashing perspective. Mongo creates doubt by making assumptions about what might come out in future filings and then when it doesn't come true he has the power to request the removal of those posts..... Very disturbing!
This is beyond unethical! I feel very sorry for new investors who aren't aware of this situation and the tactics of unethical behavior exhibited by these posters such as Mongo.
listener, if you expect to see a PR from ERHE by the first week in March stating they received 18 million and then expect to see a stock repurchase or dividend, you are truely missing a lot about this stock.
First, Addax pr'd that they will be covering ERHE costs and giving them "up to" 18 million. We won't know the details until the PSC's are signed and then the JOA's are made public. I am pretty sure that ERHE has been in talks with Addax for quite a while and the "up to" 18 million may include Addax's participation in Blocks 2, 3 and 4. I would expect this 18 million to come in over time (not lump sum up front). I also will guess that Sinopec will agree to both covering costs and some extra cash flow too but nothing is known yet.
Once ERHE get's a more firm agreement on how much and when the cash will come in, they have huge obligations prior to stock buyback or dividend. First, they are over 2 million in debt (which they probably will cover with the first cash they receive). Then they will owe their 15% bonus on Block 6 (if I recall correctly). IF they have any cash left after that they will need to bank it for ongoing expenses outside of the costs being covered for drilling in Blocks 2, 3, 4 etc.
I beleive ERHE will have another up hill battle for their STP EEZ rights that I can see coming up within 6 months. More trips, expenses and lawyer fees (not to mention any necessary 'political donations', after all it is election year in STP LOL).
The good news is that with several of these major steps forward in the next month or two, I would expect the ERHE share price to be stablized at a much higher point than it is now and IF we needed additional funding, it would be from stock being issued at $2+ per share vs the $.20 that it was being issued for the past 3 years.
Finally, I don't expect any cash dividends at least until after 2010 unless there is some kind of buy out, buy in.
GLTA
Strategyone
** A GLIMPSE into real valuation for ERHE **
Today PXD put out a press release that they have backed out of the JDZ. As I am writing this message, their share price is down over $2 per share. It hit a low of down $2.21. For conservative analysis, I will use $2 per share. PXD has 128.53M shares outstanding. $2 X 128.53M is equal to $257,060,000 in market valuation. If we take the same $257,060,000 in market valuation and divide that into 720,000,000 shares outstanding for ERHE (I am conservatively adding to ERHE’s outstanding to not overstate the value), this equates to $.357 per share in valuation of ERHE. So, again taking a conservative approach and rounding down to $.35, we can now get a better market valuation of $.35 per share for ERHE for JUST the PXD percentages of Blocks 2 & 3. This is prior to any discoveries or any proven reserves; prior to Chevron getting results back on Block 1; prior to PSC’s being signed; and finally with all the uncertainty of the JDA/JMC/STP/Nigeria politics. This is also based on PXD doing all the drilling and covering the costs for ERHE.
Now, ERHE gets a better deal with SINOPEC (details to come out shortly, I’m sure) and then start adding in ERHE valuation for Blocks 4, 5, 6 for this round. They still have rights to additional percentages in Block 9 to be auctioned off in later round(s). Finally, add the two 100% rights of blocks in the STP EEZ.
Any way you slice it, ERHE is highly undervalued and this simple true comparison in JDZ valuation prior to PSC’s should give all shareholders a glimpse at the shareholder value as positive events start to unfold.
Good Luck To All,
Strategyone
By the action of ERHE today (over 2.5 million shares traded with just over 1 hour to go and up 12+%), it looks like the "strengthening relations" talk ended on a positive note.
I would think the only way to strengthen the relationship is to get the JDZ ball rolling again.
This quiet upsurge in price on considerable volume also tells me someone knows something on the other side of the pond. This looks very similar to some of ERHE history right before news hits. We shall have to wait and see.
GLTA,
Strategyone
Repost from RB of mine:
How I read between the lines:
Menezes is playing the political cards he was dealt and if played right he will win the next election.
Menezes is stating that the agreement signed with ERHC/ERHE back in 1997 and resigned in 2001 will harm the STP citizens to the amount of $58 million (which we all know is the signature free part of the agreement). The reality of the situation is that it is a dumb statement. Nobody new the worth of signature bonuses in un-chartered waters back when ERHC did the original studies and helped STP work with Nigeria and get off the ground with their potential oil resources. ERHE took a huge risk for a potential huge gain. Looks like ERHE could reap the benefits of the risk they took.
What Menezes is trying to do in my opinion is say "I didn't sign this deal and it was a bad deal whoever signed it. Now, who was it that signed this horrible deal"? Menezes and everyone else knows that the deal was signed by his predecessor (Miguel Trovoada) who was from the opposition party and if I recall correctly, who's son is going to run against him in the upcoming election. This is called a smear campaign. Blame the $58 million dollar bad deal on the opposition party.....
Now Menezes goes and then calls the AG report "incomplete" therefore, he must go forward with the PSC signing....
One month from the signing, STP starts rolling in millions of dollars (Menezes is the hero for it coming in on his watch). Menezes still has the ammunition against the opposition party for the $58 million dollar loss.
All just my humble opinion.
Good luck to all,
Strategyone
Procon, is it Good big news or Bad big news?
I don't expect anything until after the new year at this point, but I will check back later just to see.
Happy holidays everyone.
Strategyone
Share Burn Rate REALITY check.
Many can play games by selectively picking numbers and coming up with their own twisted outcome to put on a stock chat board for their own personal gain (Yes, I am primarily referring to you Mongo, I just don’t know and don’t care what personal gain you get from twisting facts in a negative light for ERHE). These number games are played by both sides, pumpers and bashers.
I am not going to go into every detail but I would like to shed light to some obvious flaws to the twisted conclusions that Mongo is touting (fairly cleverly, I will admit) but also reflect that this is no free lunch. Yes, my goal is to do a reality check and a realistic analysis of historical figures.
I will first point out the ELEPHANT in the room that Mongo is so cleverly trying to hide (kind of a cool pun, don’t you think considering ERHE is looking for what is referred to as a Elephant field of oil, LOL). In a nut shell, ERHE did a one-time “cleanup” of the company’s financial position. By issuing shares of stock, the company paid off all loan balances, accrued interest, and settlements of old lawsuits. This resulted in an abnormally large issuing of shares during this one quarter to clean the slate. Directly from the SEC filings:
“The Company issued to Chrome 73,100,962 of unregistered shares of ERHC common stock in conversion of the entire outstanding principal and accrued interest of the Consolidated Note and the Promissory Note. The Consolidated Note was converted at $0.175 per share pursuant to the terms of such note and cancelled in its entirety. The Promissory Note was converted at $0.175 per share pursuant to the terms of such note and cancelled in its entirety. ERHC issued these shares pursuant to the exemption from registration requirements of the Securities Act of 1933, as amended, by Section 4(2).”
The bottom line (whether or not you agree with the way ERHE went about settling their financial affairs) is that the financial statements were entirely cleaned up of old and accumulated debt, interest and outstanding lawsuits. This resulted in the removal of the quarterly “going concern” (that Mongo used to hold over ERHE/ERHC’s head for so long).
I will admit, I wasn’t thrilled with the amount of shares that ERHE issued to settle all these affairs and how they communicated it. The fact is though, that it is done and the company is in a stronger financial position to move forward. I now have a new share count to evaluate my risk/reward going forward.
With this known fact that this major financial cleanup adversely skewed the new shares issued count for one quarters (Dec. 2004), Mongo is creating a false assumption that (regardless of which three year quarterly analysis you choose) ERHE will need to issue this amount of shares in the future. I will be the first to admit, I don’t know how many shares ERHE will need to issue in the future quarters, but clearly, it would be dishonest to suggest or assume a onetime major debt cleanup would need to be done on an on going basis.
I would like to point out that Balance_Builder (in post #74856 on RB message board) did a more realistic and honest assessment of current share burn rate utilizing the most recent quarter only due to the fact there is no longer any interest payment needed on accumulated debt. But BB also errored on the conservative side. He correctly pointed out that:
“The 10Q ending 3-31-05 shows our O/S was 709,912,226.
The 10QA shows the total O/S thru 8/4/05 was 710,912,226.
The difference between these are 1,747,153 meaning ERHC added 1,747,153 shares to our O/S between 3-31-05 and 8-4-05.
From 3-31-05 to the last (freshest) filing going to 8-4-05 there were 126 days or roughly 4 months.”
The error BB did was then multiplying 1,747,153 by 4 (this would be equivalent to 16 months a year). It should have been multiplied by 3 to come up with a rough 5,241,459 annual share burn rate or 14,400 shares per day. You will note that 14,400 per day is a far cry from the “Between 42,300 and 128,000 shares per day” figure Mongo came up with using his analytically unsound approach.
Now, I want to bring up one more “reality check” point that was brought to light last week in the Addax news. In just this one deal, it looks like Addax will be providing $18,000,000 in financial support to ERHE in addition to carrying to first oil for block 4. A cash infusion like this would dramatically reduce the need to issue new shares for ongoing business needs.
I also will point out that this $18 million will be needed in addition to other funding to provide ERHE with their share of money needed for signing bonus obligations in blocks other than 2, 3, and 4. But, it was a very pleasant surprise to me because I have been assuming all along that they would be needing to use “share financing” for all the bonus obligations. Obviously, Offer has been negotiating strong deals to minimize future share dilution.
To all, a happy Friday and may we see positive movement next week.
Strategyone.
At least in this report there is a specific statement:
"The findings had been sent with "recommendations" concerning future oil exploration tenders to President Fradique de Menezes".
I have no problem with any country evaluating a process and trying to improve the process in the future. Kind of like the US and our election process.
Hopefully, this is one more step towards putting yesterday's poor reporting to rest.
GLTA
Strategyone
Good to see the market acting favorably this morning. Within 15 minutes, over 1 million shares traded and currently locked .33 by .33, up 10 percent. I am guessing that if any response is given by Nigeria or any other valid source claiming the PSC's will be signed shortly, ERHE price will recoup all yesterday's losses.
Be interesting day to watch.
GLTA
Strategyone
Just another day in the life of little ol' ERHC/ERHE OTC:BB!
What's that saying? "Much a do about nothing"
I personally think that what simply occurred is STP trying to posture to renegotiate the EEZ rights with ERHE. Threaten a law suit (which they already lost in an international court) or investigation. Unfortunately, I think this Zoe reporter was a little over zealous of the news. Joe's infamous blog also overstepped his 'opinion' (yeah, Nigeria is just going to take over the JDZ...let's wait to see if Joe is right on this one, not). Panic selling takes hold and zowee (no relation to Zoe) the price hits a new 52 week low.
In reality, Zoe's first article about this (12/9/05) has more merit. The STP president basically came out and said, the investigation is over, the recommendation is coming. We (STP) can not void the second round without Nigeria, therefore it goes forward (for those weak at heart, please reread and understand what is being said here). Politically, the President of STP did the right thing. He gave merit to the arguments from his political foes by stating “some irregularities were found”, thus taking away this argument in the next election. He then publicly says “that is not right” but he can't stop it himself. When awards, PSC signings, etc. go forward (most likely this month in my opinion), he becomes a hero for bringing in all that signature money which is long overdue. Today, The STP President simply followed through with the recommendation of the failed investigation, which basically said, STP should request the SEC look into this whole mess (basically, old, already known, wrong doings by many involved in international oil negotiations which have already been publicized and corrected as much as likely possible). Again, the STP President knows this won't likely go anywhere to stop the current round, but he looks good to his biggest nay Sayers’ on the island, screaming of corruption.
The irony is that it wouldn't surprise me one bit if the PSC get signed and publicized within the next two weeks with both the President of STP and Nigeria shaking hands and smiling for the cameras.
GLTA,
Strategyone
Ruby, I am glad Upstream came out with this article. Although, it looks like the focus of the "Addax Blocked" is due to the fact the JDZ pulled down the PR from their website. The other story that came out about the JMC meeting Wednesday and Thursday this week and now approving Addax, seems to be more current.
This Upstream article did point out that it is more likely that Addax would be approved.
Better late than never I guess.
Mongo1071, careful with your math posts! I already called you out once on your math skills.
I do want everyone to carefully take the good nuggets of information that you occasionally bring up though. In this post, you provided facts that another oil company (Shell) has drilled in the deep water off the coast of Nigeria and struck oil which now estimates 600 million barrels of oil reserves. The cost to "full field develop" will be $2.7 billion. Realize that this cost is over time while pumping and is not required up front.
The important nuggets that Mongo should be pointing out are this:
1) After awards were made in 1993, the 3D seismic had to be done (3D is already done for JDZ blocks currently being awarded).
2) Discovery well was drilled between 9/95 and 1/96. Let's do the math on that one, eh? 4 months to drill and discover oil to get proven reserve numbers which will then give REAL valuation to ERHE. I like the sounds of that one.
3) Now the costs: It will take $2.7 billion dollars to FULLY develop the 600 million barrels of oil. (2,700/600=4.5). So you have provided facts to this board that in similar waters (off the coast of Nigeria, in deep water territory), it will cost $4.50 per barrel. How much is a barrel of oil going for these days? Let's say the price range drops from $60 - $70 down in half to $30 - $35 per barrel (I doubt you will find many economists to predict oil this low again but lets go with almost worse case scenario). Hmmmmm, still around $25+ PROFIT per barrel to start dividing up amongst the many.
If you really want to put your math skills to a test, you should be then getting an approximate cost for developing what could be 1 to 3 BILLION barrels from block 4 alone. I doubt it is straight line cost ratio.......(maybe $3 billion to get 3 billion barrels...who knows?)
So, if Shell thinks it is well worth the $2.7 Billion in costs to get at 600 million barrels (they haven't called the project off yet have they?), you don't think ERHE could find the financing (including partners) to go after 3 Billion barrels of oil for similar costs?
Mongo, with your proven financial analysis skills, you probably shouldn't be investing on your own in the stock market, in my humble opinion that is.
Please keep bringing up valid facts for us to use and keep the company legal beagles on point but try to stay away from embarrassing your self by analyzing those same facts.
Just a little balancing of the facts in the playing field of OTC stock message boards,
GLTA
Strategyone
Balance, thank you for that post. That is very similar to how I read into the information we do have about Noble's departure.
Although, I don't consider it good news that they left, I feel there were reasons other than ERHE being bad. I think they may have not liked being tied up to the other Nigerian company or the other company wanted to be "carried to first oil" like ERHE but they had nothing to offer (ERHE bonus free rights) in exchange.
The other possibility that I think may still come out is what ERHE's relationship has grown to with Pioneer. If, in fact, ERHE and Pioneer strike some kind of buy in deal, then Noble may not want to partner with ERHE/Pioneer. I think that some of the allure for Noble and Pioneer to partner with ERHE in the JDZ is the potential for being a bigger beneficiary of ERHE rights to the STP EEZ 100% blocks. ERHE may have been dangling that as part of the payoff for working with ERHE or carrying them to first oil in the JDZ. If Noble found out that Pioneer was doing some kind of buy in of ERHE then they would know that their chances of participation with ERHE 100% blocks of the EEZ would be gone.
Part of the intrigue of this stock is to participate in the wild business transactions/games being played out by Big Money people (Offor and his Billions), Politics (Nigerian political clout), Power (world energy resources), and the HUGE and powerful oil companies. I guess we will have to wait a little longer for the true details to come out.
Good luck to all,
Strategyone
Hello Board, I have finally broken down and joined IHub also. Only been over here twice before but spent some time today reading and this looks like a good alternative to RB. I like hearing both sides of a story but it also looks like someone can screen the loonies when they start getting out of hand. LOL
I will try to keep my posts to relevant info....
GLTA
Strategyone