JDZ Nigeria-Sao Tome e Principe

[DegenerateGambler]

Tonight's rant (since BB has not posted lately):
MarkG's news did not make the first deadline, so now we have to wait for the second dateline at the end of next week. IMO, that deadline may also have to be extended, since deals like this take more time than one first believes they can be completed in. ESPECIALLY when one of the parties involved is on African time and that alone adds a fortnight or two to the equation. So we must have patience, something most of us have learned that patience is a requirement if you are invested in the stock.

I am a relatively short timer here, only about 3 years under my belt. My first buys were from Feb 21 thru early May 2006. Those buys were at a very high price and as the stock plummeted after the investigations were announced, I was hit very hard and took a lot of grief by being invested in a stock that was worth a great deal less than what I paid. I could have sold and taken the loss or become a "bag holder" and hope the share price would recover in the future since there company had so much potential. I always thought when the oil was discovered those initial buys would still be profitable. I could have sold taken the lost and walked away a loser. But I liked my investment and always felt it was just a matter of time. Over the years, disappointments continued with drilling rigs being very difficult to obtain and the the rig that was signed delayed and delayed some more. What bad luck to invest in a company with great potential only to have it investigated and then have its potential delayed and delayed some more. However, I am what some of the traders here call a bag holder. I took the opportunity over the past years to invest more money into ERHC at what I thought were low points to obtain a high number of shares. I finally became green recently and do not regret any of my bag holding. I only wish I could be as smart as the renowned traders here who always buy low and sell high. They don't care about paying short time capital gains like most of us do. They have some sort of gift knowing in advance about any good or bad news to trade on. Or read charts and make some sense of the past. I do not believe in chart reading at a prediction of the future. As I said I wish I had their gift. The closest thing I came to buying low was late last December when those "institutions" were selling I was buying 100,000 shares at a little over ten cents. I also loaded up when MarkG made his first prediction of the rig of opportunity would be coming soon. I bought 400,000 shares in the high twenties. So my bag it quite full. But its a mixed bag, some very high priced shares, some very low priced shares, but all and all a very nice bag full.

I would guess some of the traders here would make fun of my ERHC investment as they play ERHC like a fiddle. But I do not know how to play the fiddle and have never sold a share. In fact for me to liquidate my entire holding there would be a cause great affect on the share price. When you day trade in ERHC you can only deal in small amounts otherwise you will destroy the market. So as far as I am concerned for me the choice of being a trader or bag holder was easy. Now lets see who makes more money over the next year or two.