"...when the awards come, ERHC Energy's rights to about 14 percent of 11 billion barrels of oil will be awarded; those rights today at about $81 billion, and after exploitation and all associated costs and taxes, about $10 billion, or aroundt $14 a share. The awards are imminent, meaning they will be here within 10 days, and probably much sooner." --> http://erhc.blogspot.com/
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the awards aren't uncertain, whats uncertain is whether ERHE ends up with controlling interest in any of the blocks. ERHE already has been guaranteed 30% interest in block 2 and 15-20% of the remaining 4 blocks from this round. We should find out this week if they end up with operatorship (controlling interest) of 1 or more of the blocks.
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WesternGeco has estimated 14.4B barrels of recoverable oil in the JDZ. Assuming that ERHE doesn't get controlling interest in any of the remaining blocks, from the 10 blocks in the JDZ they have interest in overall 10% of the field. That is 1.4B barrels @ conservative $5o/barrel which is ~ $70B. In the EEZ they are guaranteed 100% in 1 block and 2 blocks with 15%. Figuring the overall totals equals, well BIG TIME BUCKS
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IMHO, we will get an indication how big of a winner by weeks end. What we've been waiting on was for XOM to decide which of the remaining blocks they would take up their granted 25% stakes in. They had until March 18th to make their choice. The 18th was a hard date, ie use it or lose it type situation. Now whether they chose or not, the bid outcomes for blocks 2 thru 6 can be announced.
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I read the article but it doesn't give a timeline as to when anything will actually be started. For now it sounds like ERHE is a dumb blonde when it comes to technology but smart by keeping its claims. Wish I new more to consider dropping a few $$$.
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hey glad you guys picked up on this. From everything that I have looked into, ERHE will lock up significant rights when the awards are announced in a week or so. This is a very good chance to get in before the news hits the general public...
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I posted this also. This stock looks good. People are just lucky it is staying where it is right now. People are buying thousands of shares currently, and barelu any sells. I wish I had some more available money to buy in more.
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The awards for blocks 2 thru 6 should be out this week. When they come out this thing is going to shoot up. If it shows operatorship for ERHE in 1 or more of the blocks, its going thru the roof.
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I think people will continue to gather shares until the news breaks, meaning a slow uptrend until then. The big question is when is then, wouldn't it be nice to know. Personally I think it will be this week hopefully in the next couple of days.
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lol, Im jking. Im just thankful a friend told me about this. Although I did buy in at the wrong time, I see this stock as one of the most potential money makers out there right now.
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pretty interesting story, this little ERHE. far from my usual interest in stocks, but - i bought a measly 1k shares at .67 this am, just to kind of follow along with it, and for fun. have no idea what to expect.
pretty funny, this director guy appears to have in excess of 300M shares now (i assume the filing is "backwards" in the way they state the ownings). that is not too shabby, for a little bit of work.
imagine having your portfolio gain or drop three million dollars, for every penny ERHE moves. i would probably pee my pants repeatedly just staring at the ticker all day, "oh crap i'm down 3 million!", [30 seconds later] "no wait i'm up 6 million!". quite a concept.
being offor omeka, that is not too bad.
the OTC company i can think of that this reminds me of, in terms of being paperthin but insiders having ridiculous millions of profits from, is WLSF (though am sure there are others).
anyway, should be an interesting week.
see, aren't you "proud" of me glass, i set aside my boring and stuffy ways, and went in (admittedly for a teeny amount) on a pure *trading* stock just for fun, heh.
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if you read my previous post, queen bee and mentor, know that my main buy today was very undervalued and quality company that is RIMS.OB, and that i promise to put any EHRE profits into more CLSI !
i may be straying temporarily down the path of momentum temptation, but i am still a quality-undervalued-company seeker at heart, i promise! heh
it would of course serve me right to get taught a lesson for my straying, that - i fully admit.
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