Thanks Julius,
I did not say that swing traders / flippers do, or could mess up this stock. I think they mess with this stock. I agree that only good news or bad news will actually move ERHE with any authority...and I do not consider the speculation on this board as news...even if it comes from someones 'so called' hot insider source. I just threw in my opinion that in the absense of legitimate news, they can run it up and down within a narrow range by selling, rebuying, selling again, etc. I don't think they can actually break our SP out of that narrow range which is currently between .80 and .98.
I agree that current investors need to be patient, but as to whether we are "ahead of this game"...only time will tell. I do believe that the market normally works in a somewhat rational manner and irregardless of what some may think, the current price is the best indication of ERHE's current worth. When it actually becomes worth more the SP will move to that new level. It's just our ego's thinking that we are so much smarter that the rest of the market. Isn't it odd that those that believe that ERHE is actually worth $3/share are only willing to offer .85-.95 themselves? Would they pay $3. Hell no, but they think someone else should. Anyone that won't pay $3 should not be trying to convince me that it is worth that much...otherwise, my shares are available...any takers? Any takers at $1.50? Any takers at $1.25?
We are speculating, to the best of our ability, that there will be oil in various volumes that will move our SP to various levels. Everyone seems to have a different idea about that. When Meridian said that we should be valued between $2-$3 as soon as the PSC's were signed...it's all relative...and that price would have been based on speculation of future oil finds. If you remember the tech boom, everyone was valueing dot.com companies on what they could have...not what they did have. Many would like the market to do that with ERHE but the market is saying 'Show us the Oil'. This is different in that we do not carry the huge debt load that the dot.com'rs did. And our expenses are covered by others until oil is found. But we do carry a huge number of overall shares. At some point we will have expenses but we will not have to borrow money to cover them. Our odds of finding oil are probably much higher than were the dot.com'rs odds were of finding the advertising revenues needed to sustain thier growth...or even thier mere existance.
You think that positive news will bring in institutions. I think that unregulated hedge funds may jump on with news but until we get off the OTCBB I doubt that your more conservative mutual fund investment house will touch us. They probably have internal rules that prohibit them from stocks on the OTCBB. They control a huge amount of money. Do you think that Warren Buffet will risk his investors money on the OTCBB?...even with great ERHE news? You invest your own money, but would you invest other peoples money?...if your day job and family income depended on it? Would you keep your job long if you invested in OTCBB stocks? How many clients could you attract if you told them that you were investing in a little known, Nigerian controlled oil company with no recurring revenues and was new to the offshore oil game?
Some have now been posting speculation and rumors so often that they actually begin referring to it as if it is legitimate news. Everything is relative. And I am not torturing myself with the idea that daytraders are 'messing up' this stock.
Thanks again Julius
Badog
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