sahd3g, even if no drilling occurs until 2008, I would think the pps will go through several upswings which likely will fill your gap. The following have small to huge upside potential to move ERHE's pps:
1.) The actual announcement of a secured drill rig which may come 6 months to over a year before the drill schedule. This lowers the uncertainty of whether it is 6 months out or 6 years out.
2.) The announcement of a new CEO/CFO/ & or new technical staff. This will bring on a minimum of speculation where the company is going regardless of who these people are. Will the company be put into a growth mode or will it be set up for a buy out.
3.) The announcement of STP either starting a bidding round of their EEZ or purchasing further 3D analysis. All this moves the time table up from completely unknown for ERHE's 2 100% blocks and 2 15% blocks. The good news there will also be that ERHE should not have to wait for the bidding politics. They should get to select their 2 100% blocks before the bidding round begins.
4.) Any annoucement out of XOM or Chevron regarding Block 1 news. This could be further release of what they found or even further news on when they drill next. Both should build speculation into what the JDZ has down below the sea.
5.) Any continued gobling up of minor interests within the JDZ block awards as we are starting to see happen. I don't think ERHE has gotten much of a bump yet but with each additional merger, the value and speculation should grow.
6.) Any announcement on forward progress on blocks 5 and 6. This could be a surprise at any point in time. They did award these blocks and PSC's are being worked on according to the JDZ announcements a while back.
7.) Any other announcement that EHRE comes out with showing they are working on ANYTHING other than waiting for block 2,3 & 4 oil should provide a huge lift in the price per share. This could be anything from bidding on new rounds outside the JDZ/EEZ to any other business dealing for building the company structure from either Offor's polical influence or a new management team. Keep in mind, we don't need a new management team if ERHE is going to sit around and wait for Block 2,3 & 4 oil profits.
8.) Time alone, without negative news regarding the SEC/DOJ raid should ease the implications already priced into EHRE regarding said raid.
I know it is slower going than most people would like but I hardly see much downside potential from this point forward. With nothing going on during this quiet period we have already tested the bottom several times. From here it should be heading up with any news. We just don't know how fast, far or when the real price appreciation will start.
GLTA,
Strategyone
