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More likely they gave something to XOM or Anadarko.
Thinking about it even more leads me to conclude that our temporary rise in mid December was not actually about PSC's but was cuased by the newsletter itself. Take a look...
12-Dec-05 0.42 0.45 0.26 0.30 12,779,300 0.30
9-Dec-05 0.35 0.42 0.35 0.41 3,718,100 0.41
8-Dec-05 0.35 0.35 0.33 0.35 732,200 0.35
the newsletter by 'the Kid' came out on December 10. In most of these situations a small group has started the buying before the actual release of the letter. Lots of volume on Friday, the letter comes out Saturday, volume surges on Monday and then the news hits about the STP request to get the U.S. justice system involved. Bammmm!
It makes me very suspicious of "the Kid".
Oh, i didn't realize The Kid was talking African fortnight. LOL Then he's still right, until...
Not to throw cold water on enthusiasm on 'The Kid' and his newsletter but it was written on December 10, 2005. FWIW. His two weeks has come and gone.
OT...Not to interrupt, but isn't orange Marks father?
What are the odds of a sellonthenews reaction to the Upstream article?
Hats off to PUP! His source from "not our friend" clearly had the scoop about ADDAX, and more.
Mark, good work on getting info. You've learned well, Skywalker.
Go ERHC!!!!!
What happens past .50? Clear sailing or stone walls?
Something is going on. This is not just rumor driving this action. Some large buyers this morning...
Time & Sales most recent next page
Rec. Time Action Price Volume
9:52:28 AM Trade 0.455 150000
9:52:26 AM Ask 0.46 5000
9:52:22 AM Trade 0.451 2000
9:52:22 AM Trade 0.45 5000
9:52:22 AM Trade 0.45 28000
9:52:22 AM Trade 0.45 35000
9:52:22 AM Trade 0.45 110000
9:
Spec...It may get you in trouble with some but for me it's a great help. Thanks.
OT snow...It's little bit like one person telling the other what a great person he/she is. you say, "Say, thanks for the drink. You're great!" the other person then says, "No, you're great! Then the first person says, No way, you're the one that's great!" Then the second person, "no, you're great!" Only it's done in a kidding and fun way. So...
Balance, "Thanks for posting that Walldog. You the man!"
Walldog, "No, you da man!"
Balance, "no way, You the man, Walldog!"
And on like that. i think it was popularized in a movie or TV show, and not to make it racial, I believe it's a black thing, or that's where it started. Don't know for certain about but that's what I think.
snow...It's a play on "You're the man" which means, you know, You the man!
oilman...Do you know this to be true? If yes, how do you know?
balance...This is exactly what "The Dude" was trying to say...
One must look beyond our bank account....right??? We know we can't be buying property with our current non-existent cash flow and empty bank account so prudently we must wonder "how" said acquistions could take place. Again, one line in the shareholders letter might be the same explanation we need as to the "how" this could take place:
"...we intend to leverage our relationships in West Africa where opportunities exist to add to our portfolio"
Mark, thanks for the effort. Did they say when it will be announced publicly? Did they tell you it was set and then say either this date or that one? Or is the first date THE date and the second date a rain date?
Thanks again.
This is the inspiration for "The Dude" post...
from RB...
By: THETUNEMAN
30 Aug 2005, 10:39 AM EDT
Msg. 66915 of 78382
HELL ! SOMEONE START A RUMOR!!
I'm afraid my post by "The Dude" was mostly in jest. It was written in the spirit of the times when there was much buzz about the Pioneer buy-in. The question at the time was, why would Pioneer want to buy into ERHC? The answer is, of course, that Offor, through ERHC, has the wherewithal to get deals done in the region.
While I believed the "essential truth" of the post, I must say I did embellish some (i.e. MSU).
Yours,
James Frey
Thanks for remembering, though. I'm honored
DougQuaid...It was George Herbert Walker Bush. I believe he uttered those words during the nomination acceptance speech he gave...City on a Hill and all that.
mark...Thanks for the info. How large a shareholder? RB board large or old ERHC large?
upndwni...The delays, i believe, are directly related to a strategy being employed by STPers and their American do-gooding cronies (perhaps tied to xom). I think that is the reason Noble left, because they saw the problems ahead and did not have enough of a horse to want to be in the race. The switch from Noble to ADDAX just gave more ammo to the anti-ERHC STPers which has allowed them to drag it out this long.
The new CEO is almost certainly tied to some partnership dealings ERHC has going on. Whether it's connected to a buyout remains unknown to me and most.
BWTFDIK?
Spec...according to this in your post...
"...From page 13: "(3) Upon the earlier of the termination of Mr. Memon’s employment agreement or August 1, 2007."
He has either already excercised or he can't excercise?
I agree with you, Spec...Since he would get his shares at 30 cents it leaves very little incentive for him to excercise the options. But if he tried to buy that number of shares on the market he would drive the price up beyond his excercise price. I think if he does excercise his options it definately tells us he thinks it's going up. however, if he does not excercise...Hmmmmm, not a good sign.
Stock...That could very well be the case. And that would be consistant with my point that ERHC is not getting caught flatfooted but is aware of what's going on and making things happen.
i like your theory. If I knew for certain that's how it would play out i'd double up my shares and forget about it for a year.
Meanwhile, I wait and wonder.
oilman...I worry about the reasons for the hire. I like that it was already a done deal when they announced that Memon had left. That's the same way the switch from Noble to ADDAX was done which tells me they are in control of things and that things are not just happening to ERHC that they must react to.
I hope that they picked this guy because of his oil background and connections and not because he is a lawyer. I figure if ERHC needs a lawyer they'll hire one, since having the CEO/Lawyer handle ERHC's legal affairs is a little like some lawyer defending himself at trial. Plus, if he was hired for his legal expertise that tells me there either is trouble or they expect trouble. Not good if that's the case.
Unless some startling news comes today i think the gap will get filled. What do people think will happen after? Will it keep going down or shoot back up?
stockhocker...I don't know about these things. Can you explain why he will have to buy his shares in 60 days?
thanks.
mumfy...Excellent call three months ago. Nice. How close are you to those were in a position to make it happen?
Again, amazing.
It looks like they are going to take a run at the gap. Plan accordingly.
As far as a retrace goes, as long as the volume dwindles and there is no news the gap is always in jeopardy, IMO. I've been in stocks where it looked like a gap would never get filled and then, out of nowhere, BAMMMM!!!
Plan accordingly. And pray it goes to $5 first. LOL
Would that be Milk Chocolate, stokhocker? LOL
I think RB must be DOA. I never heard the rumor/news that they were going to shut it down, but i've read it on two other places now, including here.
go NNVC!
Well, well. I finally joined the good board. It appears RB is gone; is it forever?
Good posting today, fellows. Some of the scenarios I've read scare the daylights out of me, but what can be done. I especially do not care for the Left/Right possibilities posted by (I forget right now). To my way of thinking neither scenario is good for ERHC but the Right hand one is especially bad since news of successful drilling in block one will add intense Greed to the already complicated politics playing out. It's all about money, I know.
Yet once more into the breach, eh? I thought "the Awards" moment was the last of these do or die situations that came with owning this stock. I don't know how much more I can take.
"The large print giveth and the fine print taketh away." Aint it the truth.