My two cents:
1) Where the hell is Mark G. now, all that great info he has been telling but he cannot divulge his sources...?
2) In a shareholders meeting It is just as important to look at what is said as what is NOT said. My take is that "YES" we do know a lot more than we did before this meeting. First we know that we do have commercial quantities of gas in at least 4 of the 5 wells drilled. We know this not because they said so, we know this because they stated that BOMU did not have commercial quantities of Hyudrocarbons and they did not say this about the other four wells. It was only in the perimeter one on one meetings that we were told specifics about the condition of the gas.
3) Everyone here was waiting for a bombshell and hoping that ERHC would announce that Total and/or Sinopec were going to buy us out for $20,000,000,000. Guess what, there is still a very good chance that that will happen. But only the top players know the timeline. Guys they drilled for almost 5 years in Saudi Arabia before they found GAWAR, The NAVY drilled across the North Slope Burrough in Alaska for almost 9 years before they found the Sadlerorochit. It will happen, just not on the timeline we want.
4) If we are going to discuss something on this board (instead of just arguing with the bashers), let's discuss Corporate Strategies and what Sinopec, Chevron and or Total would try to do to optimize their holdings in the JDZ and EEZ. (after all this is the highest touted area for finding (NEW) oil of any region in the world, and they all want to be here). My current take is the majors want to take out all of the small players (while it is more affordable) that they can. It is my feeling (and hope) that ERHC will be untouchable given our holdings, our reserve capital, and that we have a free carry until production. That leaves the rest of the small players to be taken out. Once that has happened then there is a very good chance that ERHC will be divided up between the majors and hopefully at a price we are all very happy with.
5) Word of advice keep you cards close to your chest and sit and watch. Don't overreact to good news or to bad. Finally, accept the fact that you may have to hold this stock another 2 to 4 years to start seeing the return that drove us to buy into this stck in the first place. Remember, they have only drilled 4 of the 22 known structures. If we see Sinopec/Addax start contracturally securing a deep water rig for later this year then (to me) that completely seals the deal that there are known hydrocarbons and in significant amounts.
Balance Builder do you have anything to add to this, I generally have much respect for your position on what is happening?
Mark GoVols are you prepared to come back and tell us how this fits into all the "GREAT NEWS" information you have been bringing to the board from your unidentified resources?
Bayfisher.
