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My question also...
No visible deepwater experience in the resume...
The Baron
Not Sure what pending means either...
But our partners wouldnt be telling us 2007 unless they bad some way to do it...
The Baron
West Navigator is under contract until 2009...
I have a large position in Seadrill as well as some other offshore rig companies... Pricing is very high at the moment and some are obviously not willing to pay it...
But other rigs may become available... Deep water stuff is very limited though. Only about 12 drillships worldwide capable of drilling in water deeper than about 6000 feet plus some have total depth limitations that may be short of what is needed in the JDZ.
The Baron
Lets hope so...
I personally thing change is a good thing at this point because as others have noted, nothing is being done to enhance shareholder value and SEO has chosen to leave ERHE out of his plans for expansion...
I too am hoping for real oil company to step in and take over...
If all of this is true and accurate, I can see where we might have a new board of directors as well as new management...
Any thoughts from the board
Ditto Go Vols!
Have faith... If they come to play, they can win...
The Baron
The Volume is interesting...
Someone is not afraid to push the price up a bit....
I added more this morning at .34... The stars are aligned LOL!
The Baron
We all need to take it easy here...
Sortman is just doing the same math that I and others here have been doing in recent months to satisfy himself that the current price is reasonable... I have approached it several different ways to determine an enterprise value myself...
Weve already seen a price earlier this year of close to a dollar. The DOJ/SEC investigation is what has killed the share price in recent months along with drop in price of oil...
I have a huge position in ERHE and its underwater (no pun intended LOL) and I still hold, so this is not an attack on anyone or on ERHE...
The Baron
Go Vols!
MBA 1977
Sorry for Off Topic Post!!!
The Baron
Cobalt International Energy...
I did a symbol search for Cobalt and did not find anything... Apparently, it is not a public company...
This would be an interesting play with serious experienced oil people obtaining rights...
The Baron
I happen to agree on the Tank on Mon...
I tried to lowball some today, but fortunately did not get any takers...
I will be looking on Monday however...
Dont feel to bad... I bought some of my position at $.90 LOL!
Back to the Beer!
Sam
Interesting trading pattern
ERHE undergoing another one of those "stalled" trading days where the trading just suddenly stops...
To the Board concerning the use of consultants -
I can pretty much assure everyone that these "consultants" are very good at what they do and there will be no way for the DOJ to get anything useful from them...
I worked for a fortune 500 company for many years that did business all over the world and the use of consultants was a common way of "correcting errors" made in countries where the rule of law is a bit shaky... You can be assured that Belize and Mauritius are pretty much untouchable and even it they werent, there would be no records to verify anything other than normal and legal activities such as providing "advice"...
I agree with this completely,
What on earth can some two bit congressman do for Offor/Chrome/ERHC?
I have been following the discussion here on this subject and have not seen any theory that makes any sense to me...
How would the influence of a congressman (unless he is head of some committee) be useful to Offor?
Offor may have OTHER businesses that a congressman could be useful with, but just dont see it with ERHC...
The source article for my statement is below... The article may be inaccurate, but the writer is obviously talking about U.S. Dollars... There are no "Millionaires" in the Forbes 400... Nigerian currency is Naira, which is also mentioned int the article...
Emeka Offor: Whose Front is He?
By Jonathan Elendu and Sowore Omoyele | Published 12/3/2005 | Nigeria Matters | Rating:
Jonathan Elendu and Sowore Omoyele
Omoyele and Elendu jointly write articles widely published across the web. www.elendureports.com
View all articles by Jonathan Elendu and Sowore Omoyele Major financier...
If he were American or European, he would be on the Forbes list of the 400 richest people in the world. He estimates his net worth at three billion dollars ($3 billion), although a recent report obtained by Elendureports.com, puts his net worth at about six billion dollars ($6 billion). This former "Julius Berger truck driver" claims to have been a former petty contractor until fortune smiled at him. He reportedly was given a nineteen million naira contract in 1983, and thus opened the gates to unimaginable wealth.
(remainder of article deleted)
____________________________________________________________
The Baron
Offor is a Very Wealthy Man Already
Therefore I think it is very difficult to know what he might do... According to articles I have read, Offor is already a billionaire without ERHE...
I can logically see where he might sell a piece of ERHE in order to put cash in the bank for use in further bidding rounds in the future for other zones... I am aware of the proceeds already on the books from the recent signings, but more may be needed in the future and its a long way to any significant payoff from oil revenues...
At least, this is the way I would be thinking...
JMHO
The Baron
Thanks to All from The Baron
Thanks for all the suggestions... I am off to do a lot of DD to see what I can turn up...
Best of luck to all of us ERHE longs...
Along with all of you I impatiently await news from Chevron...
I am not a member here, so am limited in posts, but may occasionally ask a question... There are obviously many knowledgeable posters here...
The Baron
Hello to all from New ERHE shareholder
Just a question which I hope is not heresy here LOL...
I am looking for other small oil companies that are operating in Africa which have similar potential to ERHE... I believe as most of you obviously do that there is tremendous potential in Africa for oil in the future...
Thanks in advance for all help... Before I go, let me say that I have owned ERHE for several months, understand it pretty well (not an oil guy) and hold large position in it...
Thanks again,
The Baron