I am not expecting a pop but it should prevent a slide backward in price (assuming with no news there was going to be a slow price erosion for a few months). It would firm up drilling for next summer but most people familiar w/ ERHC have that currently factored in. Put the sail away in conjunction with some info on the new acquisition / AIM listing and maybe then we see some good movement. I hope that a confirmed sail date more readily allows for a swap with either KOSMOS or some other company as to a drilling rig for late this year.
I took a .38 buy off the table yesterday before I heard the news about the AA as I thought we might drift down a bit but with confirmation of sail date I will put in a bid higher than what I was planning yesterday per my above reasoning.
We all know how fast this stock moves on any positive news so I may be way off. A confirmed sail date with news that we should definitely get the ship no later than early summer 09 (?) would really cement in a drill horizon. I would consider the summer 09 the worst case drilling scenario and hope that something comes up to speed that up considerably. I can live with summer '09 and I definitely agree that the sailing news (if confirmed) is another giant piece of the puzzle solved as to when we will finally see some action in the JDZ.
I restate that I think VERY conservatively when it comes to timeframes, shareprice, etc. regarding ERHC. I know one day it will reach the targets I have for it, I just don't want to expect those to happen overnight and thus become frustrated when they don't occur. Certainly can't believe anyone would be selling now with drilling within a year away. I have never bought into the "dead money" theory as most investors in penny stocks go broke and very few have the success so many seem to tout with their money gaining double digit returns every month. I will say that if SP is not flying high by Jan 10 I will seriously review my holdings in ERHC but I really don't think that is a concern. Mgt. knows they must produce within a short time after the RedChip and London presentations and I firmly expect them to do same. For a risk/return play I don't see how anyone could find a better stock than what we have here over the next 18 months. Those just finding out about the stock now will never understand how lucky they are and those that have been here for years will reap their just rewards but will have paid a steep price in worry / frustration/ etc.
Wish BB was still posting here. He obviously spent a LOT of time thinking about ERHC and I appreciated his efforts.
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