Pete: Elcrest may makes a $218 million share purchase of ERHE's Shelf registration at .22 a share or about $48 million dollars. Hence PN has his $50 million and buys into OML40. Chrome lost 60 million shares to Atlantic Bank and will never get them back, However Chrome can get 109 million share of the 218 million shares sold. Chrome owns 50% of Elcrest so SEO gets more shares than he lost at the same price at which he lost them. The 60 million shares that Atlantic Bank had at .22 a share is about $13.2 million dollars.
If Elcrest buys the shares of ERHE, Eland Oil will have a 12% stake in ERHE and Blair sits on the board.
Chrome also has an additional 12% stake in ERHE or 47%. HMMM.
The New NASI numbers must of been better than the old NASI numbers, Mr. Blair sure likes them and has taken a seat at the table to watch over Eland's share.
SEO and Friends have a number in mind in order for them to exist.
That number must be lower than they want, Hence the additional shares may gets them to that number.
I will call it $8.00 a share or $7.6 billion. The Proven JDZ reserves will have to be twice the old NASI numbers.
To all board members: This is not your typical run of the mill Oil and Exploration Company. This is a Real Estate Holding Company Masquerading as One. Just like in any Real Estate play, Once the Highway Interchange gets built, the price of that Real Estate Sky Rockets.
Total Fina is going to start and build the foundation for this Highway with the Block #1 Exploration and Appraisal well scheduled to start later this Year. Once this proves successful the Interstate Infrastructure is going to progress on into the rest of the JDZ.
Some here on this board would have you believe that all is lost and that the Keystone Cops are running this company. Those that gnash their teeth and bash this company have Alternative Motives.
They prefer to take the wind out of every sail and down play every chance this company may have underway to get this show on the Road.
Sorry, Just More Long Winded Ponderance on My Part Again.
I have been restricted to One post a day.
Keep the Faith :>
Have a Great Day.
Sneak
