dbernet,
Very good summary of the likely scenario regarding the search warrant.
For a change, I am glad to see what Ken Silverstein wrote regarding the link between ERHE and the Jefferson probe. Although he may think this brings a negative light to ERHE, the opposite result will prevail. First, this confirms the rumor that the warrant was not the beginnings of a SEC investigation or a follow up on the DOJ request from STP but an internal US issue regarding a crooked congressman with links back to FORMER owners of ERHE. I never gave much weight to the rumor that the warrant was related to Jefferson. On a side note, this confirms what Sfreed was saying all along on the Elephant Fields board and shows him to be a reliable source or at least connected.
Second, with regards to the whole Nugent, Wilson, GEEC et al. connection, let the US gov. go after these individuals all they want. Again, I don't make EO out to be some saint and I would certainly believe that he did what he had to in the GOG part of the world to make this whole business deal go through, but the US isn't going to find squat regarding EO and STP in the Houston office. If Jefferson goes to jail and the gov. eventually throws Wilson or Nugent in with him, so beit. ERHE will come out smelling like roses because they cooperated in the investigation and the company wasn't the focus of the warrant. That is all I wanted to hear.
Now, on to the oil. Addax or Sinopec should be announcing drilling plans in the next few months I would guess. No where to go but up from this pps. Nothing but baseless bad rumors and no comment from ERHE to create an way oversold and undervalued position. For those with spare risk money, enjoy the bottom fishing. You deserve the rewards you will get.
GLTA,
Strategyone
