Spec...just to be clear, I'm talking about the 1/3 shares SEO transferred for some reason...i.e. approx. 103 million shares. Based on the below post, I wouldn't be surprised if SEO was offered a couple bucks a share for someone to gain controlling interest.
Posted by: extractor8
In reply to: balance_builder who wrote msg# 111166 Date:11/9/2007 6:26:39 AM
Post #of 117117
ERHE share offers.
Offor is a trader. Gandur is a trader. They will find a way to make a deal.
What has to be considered is that every offer for ERHE shares incorporates an implicit value for Offor’s oil. I know that Offor had at least 3 offers from a Middle Eastern group of investors (not Brandhuber's Millenium!). The last one was a staged proposal with an increasing share price reflecting the state of advancement of exploration and development.
Offor said no to all of them, including a proposal of USD 2 per share. According to my really conservative calculations, USD 2 means an implicit offer to pay approximately USD 1 for a barrel probable (everybody can plug in his own numbers).
Offor is not stupid, he will not sell at such an exessive low price. And the man is right. If we consider, for instance, that a barrel unproven is worth USD 3, a mimimum offer should be in the order of USD 6 per share.
Always remember that Warren Buffett and Peter Lynch made their money by buying undervalued equities, informing the investment community about the situation, waiting and cashing in massively. Things will work out.
ERHE, long and strong.
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