# ERH - Eromanga Hydrocarbons



## Purd2 (25 November 2007)

www.erohydro.com

Worth a look at. Searching for oil in Brazil ....low risk already explored areas now made profitable through oil price hikes. Also Uranium ....Olympic Dam type in the same geological structure in SA. Management looks A1. I would like some feedback.
 I would post more but have to run. 
Phil Galloway - (20 years experience in mining and energy projects as an engineer, investment banker and company executive.  He has held senior roles at BHP Billiton, CS First Boston, RioTinto and Esso Australia. )  

See       http://www.aie.org.au/melb/geothermal.htm

 open the PDF file on the bottom left of the page.   Smart cookie or what!!!!
 Cheers Purdy


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## tigerboi (15 May 2008)

Been up a 100% today & looks to still be under the radar of the average punter.they look to have a few promising projects...tb


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## Wysiwyg (15 May 2008)

They say the fluorescence is yellowish which suggests 25 to 35 API.Of course there are other deciding factors such as permeability and porosity that will determine commerciality but a show over 149 m gross is encouraging say what.
Looks like there is still interest in it tigerboi.

News story ... here if interested.


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## tigerboi (15 May 2008)

Wysiwyg said:


> They say the fluorescence is yellowish which suggests 25 to 35 API.Of course there are other deciding factors such as permeability and porosity that will determine commerciality but a show over 149 m gross is encouraging say what.
> Looks like there is still interest in it tigerboi.
> 
> News story ... here if interested.




can i get that in english!if its trucks,rugby league,brumby resources & other io miners then no probs...all i know is they said oil shows kapow 100%,surprised me though as not a peep on here about it...tb


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## Who Dares Wins (20 May 2008)

This ones off today - up at 53 cents last I looked and seems to be still slowly creeping further. Surprised no one had already posted about it. Maybe to busy trading it.


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## Broadside (20 May 2008)

Who Dares Wins said:


> This ones off today - up at 53 cents last I looked and seems to be still slowly creeping further. Surprised no one had already posted about it. Maybe to busy trading it.




if you're not a short termer, ERHO is the go...you get your regular option (strike 10c, expiry mid 2009) plus a piggyback option strike 20c expiry 3 years from date of issue.  Therefore intrinsic value of ERHO is 2 x ERH price less 30 cents.


eg if ERH is 50c then ERHO i.value = 70c

if ERH 70c ERHO value $1.10 etc

see last quarterly shows piggy back options and exercise price etc


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## jtb (20 May 2008)

Broadside said:


> if you're not a short termer, ERHO is the go...you get your regular option (strike 10c, expiry mid 2009) plus a piggyback option strike 20c expiry 3 years from date of issue.  Therefore intrinsic value of ERHO is 2 x ERH price less 30 cents.




I'm gagging badly on not scooping these up circa 8c week before last
Was all over this and yes the options were certainly the attraction- the single research report (which looked decidedly budget-and very P10 oriented)- sparse info' in addition to the sell down (right up to the announcement) kept me out unfortunately.

Always good news for a junior to have a win though.

Well done.


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## YOUNG_TRADER (26 May 2008)

wow 16c to a high of 70c in under 2 weeks 

Thats insane, must have been a very large wildcat that they were drilling

Anyone lucky enough to be riding this mini Cudeco?

p.s. I didn't get the option pricing till now thanks Broadside


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## Wysiwyg (26 May 2008)

tigerboi said:


> can i get that in english!if its trucks,rugby league,brumby resources & other io miners then no probs...all i know is they said oil shows kapow 100%,surprised me though as not a peep on here about it...tb





Plain english my friend is a multiple increase in ERH share price.I sold at 26.5 c and now am doing this  more regularly.I really need some help with my exits as i`m not in the ball park most of the time.

ouch


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## Spineli (26 May 2008)

Wysiwyg said:


> Plain english my friend is a multiple increase in ERH share price.I sold at 26.5 c and now am doing this  more regularly.I really need some help with my exits as i`m not in the ball park most of the time.
> 
> ouch





The Brazilian Oilfields.....particularly around the Sergipe Alagoas Basin (ERH has JV with Gavea) and the Reconcavo Basin (ERH has JV with Silver Marlin) are full of black gold.......are absolutely going gangbusters.......this is the biggest oil find in decades...Petrobas is going to make a killing IMO (holds significant permits) although there are quite a few other players involved.

Wysiwyg...mine are in the bottom drawer


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## Broadside (26 May 2008)

YOUNG_TRADER said:


> wow 16c to a high of 70c in under 2 weeks
> 
> Thats insane, must have been a very large wildcat that they were drilling
> 
> ...




100m oil column is pretty enticing young trader given the market cap but now we need to see how it flows...the options have great leverage but that cuts both ways of course if we get disappointing news.  I am holding I think the odds are good.  But I have small stake money riding on this which makes a difference to whether you chase it now.


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## Purd2 (26 May 2008)

Loving this!
 Imagine what the sp will do when the 2nd well in 430 is spudded. LOL.

see this
http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/PDF/Daily/Australia_pdf_782.pdf

for your interest.Cheers P


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## mapna (26 May 2008)

Any idea why the SP went south after  the weekly update report? I do not quite understand what the report said but it sounded like no more drilling, plan for some testing to do ???? not sure if they have oil or not????

Can anyone explain pls?

Thanks.


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## Wysiwyg (26 May 2008)

mapna said:


> Any idea why the SP went south after  the weekly update report? I do not quite understand what the report said but it sounded like no more drilling, plan for some testing to do ???? not sure if they have oil or not????
> 
> Can anyone explain pls?
> 
> Thanks.




Hows it going Mapna, from the report it tells us they are going to flow test the well to see what amount of oil flows in barrels per day (bbl/d).This procedure, as stated, means another rig will be positioned over the well to perform this procedure.The well bore will need to be fracture stimulated to get the oil flowing.  

Hope this helps but do some research if you want to know what the speak is.


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## Spineli (26 May 2008)

Check out the Top 3 shareholders and the Top 20 for ERH

This has got to be one of the most tightly held registries I have come across in a long while. The stock's performance helps me understand.


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## Spineli (3 June 2008)

Shares into trading halt today pending a capital raising.

Gavea JV (ERH 40%)
Progress: Drill Block 430 Loc 1 completed in May08 with 143m of oil shows, flow testing of Loc 1 to begin soon - funds used to secure workover rig at Loc 1

Siler Marlin JV (ERH 50%)

Capital Structure: (see slide 23 of investor presentation [link below]):
2 June 2008
http://www.erohydro.com/ERH_Investor_Presentation_2_June_2008_Final.pps

Implied MC = $117m = < 1mm bbl of oil


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## mapna (3 June 2008)

Spineli said:


> Shares into trading halt today pending a capital raising.
> 
> Gavea JV (ERH 40%)
> Progress: Drill Block 430 Loc 1 completed in May08 with 143m of oil shows, flow testing of Loc 1 to begin soon - funds used to secure workover rig at Loc 1
> ...





Is it good or bad announcement???? can you give us some of your comments to save us on R&D pls.

Thanks.


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## juddy (3 June 2008)

from another forum:

apparently for $5m at 47c. Current sp 53c.

we'll see how accurate they are.


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## Spineli (6 June 2008)

Placement of 15m ERH shares @ 0.47/share ~ $7.05m

Extract
_Eromanga Hydrocarbons NL (ASX Code: ERH) announces the successful completion of a $7.05 million capital raising through the placement of 15.0 million ordinary shares at 47 cents per share. The funds will be used to partly fund an exploration and drilling program covering onshore producing basins in Brazil.............Eromanga Hydrocarbons CEO Mr Philip Galloway said “the Company was encouraged by the level of demand for the placement, which was significantly oversubscribed. This highlights the potential of Eromanga’s projects in Brazil._”

Current Activities:

Gavea JV (ERH 40%)
Progress: Drill Block 430 Loc 1 completed in May08 with 143m of oil shows, flow testing of Loc 1 to begin soon - funds used to secure workover rig at Loc 1


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## snake100 (15 June 2008)

I'm very excited about this stock. It's only a matter of time before we here a few good announcements. (1.Quantity of oil) Hopefully there will be a substantial amount of oil with a good flow. If this happens the share price should go rocket as most will know, however if smart will hold until production kicks in..For a company that shows 40M in asx, i think that is extremely under estimated. 

ERH has an excellent management team, as you can tell from previous announcements. They communicate as soon as news becomes news.

Did anyone read the Saturday Advertiser Business section? talks about cost of tenements (licenses) and there worth. Phil - what a move he made few years back. Brazil is the place to be!

The thing to remember is that B430 is not the only opportunity and WIP there is so much out there for them. Won't be long before someone comes along and notices Phil's achievement


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## JTLP (15 June 2008)

snake100 said:


> I'm very excited about this stock. It's only a matter of time before we here a few good announcements. (1.Quantity of oil) Hopefully there will be a substantial amount of oil with a good flow. If this happens the share price should go to $1.50-$1.80 short term, however if smart will hold until production kicks in..For a company that shows 40M in asx, i think that is extremely under estimated.
> 
> ERH has an excellent management team, as you can tell from previous announcements. They communicate as soon as news becomes news.
> 
> ...





Hey snake100...hope you are not the temptation snake from the old testament (thats some catholocism 101 right thurr) 

Any reasons why ERH will be 1.50 to 1.80 in the short term? (For those of you playing at home ERH is currently 46.5 cents...a somewhat 300% if this bold prediction comes to fruition  Any Fundamental analysis, technical analysis...anything other then you spitting out some numbers?

Can you also explain 2 things to me:

"For a company that shows 40M in asx, i think that is extremely under estimated." what does that mean? 40m in ASX? 40m invested in the ASX? 

ALSO

"They communicate as soon as news becomes news."...Isn't it illegal not to? (although i'm sure companies do hold off)

Thanks!

JTLP


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## snake100 (15 June 2008)

Have you seen companies find a 140m+ oil column before? How did they turn out? 40m, should of read 64m and refers to market capital. Yes to answer regarding news, but really meant to say I like Phil's previous work background. Have you seen his blog on their website?


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## JTLP (15 June 2008)

snake100 said:


> Have you seen companies find a 140m+ oil column before? How did they turn out? 40m, should of read 64m and refers to market capital. Yes to answer regarding news, but really meant to say I like Phil's previous work background. Have you seen his blog on their website?




LOL...a company directors blog on the company's website. I'm sure he is going to paint a picture of doom and gloom  Don't just go there for your research...(insert lightbulb above head emoticon here)

Snake...you can find a trillion barrels of oil...its the recoverable barrels that count. 

By all means good luck with your ERH holding...just be careful reading a directors "blog"

JTLP


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## snake100 (16 June 2008)

Good on ya JTLP! I think I know recoverable barrels are the ones that count...don't need to tell us that. Ann's will not always indicate flow rate with estimated barrels. In regards to the directors blog, no need to ditch his blog, merely indicating his history sounded good - not too hard to find out if it's true or not.  Have a good one.


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## snake100 (18 June 2008)

ERH did very well today by hitting the 60c mark.
I see it hitting 70-80c by Friday Close.
If announcement comes out might go even higher.
Bring on 25m+ Barrells


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## Wysiwyg (19 June 2008)

Director gets allocated 6,250,000 performance rights `in the money`.Not a bad windfall if he cashed in now at s.p. above 50c.Instant millionaire.I would tend to think they will be held and not exercised.




.


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## snake100 (19 June 2008)

Yes interesting to see the timing of the announcement. Do you think he'd sell them now? doubt it......


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## upndown (23 June 2008)

Afternoon ERH holders,
My broker rang me this am.Oil analyst at the brokers I use had a discussion with ERH this morning.An annoucement re OIP will be out in about 2 weeks.The main thing I was interested in is"OIP is multiples of 10mmb".Trouble is we then have to wait for flow rates.Rig should be in place in 2 weeks as well.

cheers and goodluck


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## BuffetJr (23 June 2008)

Hey JTLP

If you are after fundamental analysis, no point looking at a 'oil exploration' company pal...they are speculative  by nature.

Meanwhile, I'll ride it from my sub 10c average option entry price (which by the way also carry a piggy back option)...stuff the fundamentals (hope my dad doesn't read this...sorry Warren). And stuff the technicals too (now dad would be proud of that comment im sure).

Best regards,

BuffetJr


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## JTLP (23 June 2008)

Stuff the fundamental analysis for an oil exploration company??? Are you being serious? I think your "dad" just had a right royal chuckle at you son...hit the text books.

Why can't an exploration company have any fundamental attributes???
Cash in bank? Oil permits? Prospective land? Potential reserves targetted?

And stuff technical analysis? That is also making me laugh! I used to be ignorant to tech analysis...but after seeing some of the predictions used and its values; i regard it quite highly. F/A and T/A are dreams come true!


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## catman (23 July 2008)

Hmm Buffett Jr, didn't your dad invest in PetroChina not so long ago? 

No oil companies hey LOL.


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## Purd2 (1 August 2008)

Get set everyone. Brazil oil and announcements soon, according to management....I think this stock will stun everyone. Remember the joint venture fellows were the people who originally drilled these wells back in the 1960's when oil was $10 barrel. They now are going in seriously! Please DYOR.


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## stiger (14 September 2008)

Purd2 said:


> Get set everyone. Brazil oil and announcements soon, according to management....I think this stock will stun everyone. Remember the joint venture fellows were the people who originally drilled these wells back in the 1960's when oil was $10 barrel. They now are going in seriously! Please DYOR.




Purd 2 I believe now is the proper time to get set,we have seen a trend reversal in the sp and flow test results are almost upon us.Good luck!Dyor.


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## adds4 (7 January 2011)

been a horrible two yrs with this stock. Got most of my money out, and went someone else. But i had to leave some scaps, because i had that just in case in the back of my mind. Lets just hope there are no dramas with the amercian drilling, like there has been in brazil. Looks like amercia, might be the way to go, and forget about the brazilian assets for a while. Let the joint venture partners suffer some hardship


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## adds4 (8 January 2011)

erh have been held hostage by its brazilian partners in the past for too long. A successful first amercian well would give the company some much needed cash flow, and result in the company share price rising again, so erh can raise some more cash, for a more aggressive americian acerage aquisitions and drilling campaigns. As valuable as the brazilian assets are in reserves, they have been a financial disaster for the company, and i believe the company should only do the minimum spend, to satisfy ANP from now on. The brazilian partners have all turned out to be difficult to work with, silver marlim, and gavea, eventhough erh granted them some favourable terms (paying for 80% of the wells). Time to switch focus to amercia. This dream of bringing horizontial drilling to brazil is just a pipe dream? How many drilling companies does erh own (none). Which directors have run a drilling company? Which amercian drilling company would want to team up with an explorer, and share technology?  The best result would be an expensive relocation of drilling equipment and personel to brazil, wheres that cash going to come from - gavea and erh? The time it would take? etc.


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## adds4 (17 January 2011)

delays again by the looks. Ahh well only normal, got use to it now


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## adds4 (19 January 2011)

im starting to get a bit worried. I thought phil would just come out and say the well is producing **** barrels a day on test. Instead we get an announcment that is vague, and we have to read between the lines. Going on the history, when he has done these announcments things turn pear shaped. I think he needs to just stop and give us just one juicy announcment. Some times building up the announcments to try and influence the price up, just doesnt work. The markets more smarter than that.


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## adds4 (19 January 2011)

I'm sure the well will be sucessful, so it would be good if christian can do some more deals in amercia. A small capital raising, and a nice 2 or 3 well drilling program for the rest of the yr. Thats what i want from these guys. Seems easy enough

Like i have said before time to forget about brazil and hurt our partners financially for a while, next time they will not play games. And who knows they may run out of cash and then swoop. Shouldnt cost too much to adopt this strategy.


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## adds4 (22 January 2011)

what price are people thinking the capital raising will be after the well test.

Could be 5 cents, or 7 cents or 10 cents?


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## adds4 (23 January 2011)

my guess is 5 cents and 100m shares to raise 5m, both retail and institutions, and will need shareholder approval as its more than 15% of shares issued. They need 5m for the next yr or so of drilling, and aquisition of blocks.


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## adds4 (23 January 2011)

wow these guys have blown 20m in a couple of yrs. Whats the reserves they are saying for the brazilian projects. They could have bought an oil feild for that


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## adds4 (23 January 2011)

unbelievably erh, terminated its joint venture last yr for the base mentals project for an imparment of $409,091. And no one said anything at the agm about this. This cost erh nine million shares and nine million options given to who?


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## adds4 (24 January 2011)

oh i forgot, they have the fortrend facility available up until 2012, for 10m, which they can use to issue more shares. I would use this as a reserve though, as it requires some discount to current price


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## adds4 (30 January 2011)

looking good the share price has risen a bit, and theres a real possibility of raising higher than 5 cents. 7 - 10 cents could be a possibility. One things for sure, there will be a capital raising, and yes it will be soon, just at what price. If they dont capital raise this company will go no where for yrs, it needs the cash to succeed.


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## adds4 (31 January 2011)

1m left in the bank. no oil sales? is the production well in brazil shut in? hmm. no result from amercia yet????


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## adds4 (19 February 2011)

come on with the capital raising, dont leave it too long management. Everybody knows its going to happen. Make sure shareholders are included in a spp


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## adds4 (3 March 2011)

think its time for a management overhaul. Some have been with the company for yrs. Some fresh blood and new ideas wouldnt go astray. Maybe the brazil impass could be solved with some new personalities.


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## adds4 (18 March 2011)

finally some news on klick. This company must be the most unluckest company out. Looks like they drilled into a watery area, and are going to have all the drama's associated with that. A 96% water cut is a worry, but its good to see the water cut has improved a little bit since production testing started. Currently 20 bod for erh at $85 a barrel for $1700 a day. Unfortunately a capital raising will be needed to do the next drill, because of the slower than expected flow rates. Hopefully that drill will go to plan easier


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## adds4 (18 March 2011)

going on the graph provided it will take a couple of months (following the trend)  before the water cut improves to a level where erh's share will be more than 100 bod


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## adds4 (18 March 2011)

on a lighter note, at least erh can plant a crop of pumklins or watermelons and get them watered well. Good cash crop with vegs costing more this yr


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## adds4 (20 March 2011)

Erh are good at finding pools of oil, its just the extraction thats the problem. Thats now four drills in a row. Someone needs to get a vodoo priest to take this spell off them. The only explaination i can think off. On a positive note they need to perserve and do the next drill. Raise some capital and drill fellas. And ffs refresh the board


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## adds4 (23 March 2011)

I like the direction the company is going by partnering up with cmx in mature feilds in USA and using directional drilling to drill the wells. I know the klick well wasnt as successful as first thought, but atleast management are perservering with aquiring new acerage, and drilling them. In the announcement, they have said they will use the proceeds from oil sales from klick. Forget about those revenues, and raise some capital with shareholders using a rights issue at 5 cents. Im sure most shareholders would part take.


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## adds4 (11 April 2011)

Why dont they raise some capital, and aquire and drill some more permits. Why wait months and yrs to get the revenue out of klick to start drilling. Cant managment raise money? No one will invest in the company? How the hell are the managers even going to pay there own wages and secure the company for the future, with no capital raise. Maybe we might see some price appreciation, and allow people to average down with a rights issue as well


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## adds4 (21 June 2011)

How low can the share price go? Its at 2.1 now. So much for a capital raising. Maybe no one believes managment anymore? One manager has gone, surely a couple more to go? Then the turn around will happen. Brazil for me is the real worry. I think the market has put a zero value on the assets now


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## adds4 (21 June 2011)

how much cash is left in the bank? The next quarterly will be interesting. Wouldnt be much left i recon? Capital raise at 1 cent anyone?


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## Wysiwyg (21 June 2011)

Tough game the oil and gas with most stocks trending down considerably. Especially the lil' speccy fellas.


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## adds4 (22 June 2011)

Wysiwyg said:


> Tough game the oil and gas with most stocks trending down considerably. Especially the lil' speccy fellas.





agree with you there. Problem has been with this one, they have the resources, just cant get it out of the ground. Thats the most frastrating thing. Management dont communciate to the market whats realing happening, people have to guess. They set out timelines for the yr, and never ever achieve 1/2 of what they say they are going to do. Theres not much cash in the bank, the share price has tanked, no capital raising was taken earlier to advance projects or aquire new projects. The company isnt moving forward. Just sitting watching time. No new productions numbers are out from klick? Brazil is still in dispute with partners? Sad state of affairs. Maybe new people running the show may clear the current impass. Who knows. I just hope things move along, and the company comminutes with its shareholders more for a change


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## Bonk (23 June 2011)

The people are not there period to run it......


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## adds4 (24 June 2011)

someone has to be there. Surely?


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## adds4 (25 June 2011)

Are erh still pumping oil from klick in amercia? Is oil being pumped from brazil? Anybody heard anything from the company? Hasnt been an update for a while? Really worried, as shareholders we know nothing. Thinking of dumping my sizable parcel. Should i stick in there? Was i stupid to buy lately - looks like i was the only one. I hate bottom picking, its cost me big time again


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## adds4 (28 June 2011)

Cheers for the update phil. As per usual lacking in total information. Every other company would tell you current flow rates on klick. Erh gives you april oil sales figures, and profit for that month. Its like nearly july? How this information would be useful to shareholders is beyond me? Is the well not pumping now? Is it shut in, under workover? Are the flow rates that bad? Have the flow rates dropped now? Why cant current flow rates be given? The share price is at the level it is for a reason. Mainly being this bad reporting. Time for a new ceo i recon.

Anyways lets get back to the information phil has given.

$100,000 sales for the month, at about $90 per barrel, means the klick well produces for erh about 37 Bod of oil net to erh. Or lets say about $1.2m of sales

$75000 is the profit each month, meaning $900,000, profit for the yr

Overheads for last yr where $1.440 million.

ERH are stuffed when it comes to getting a bank loan, no bank is going to lend money to a company that lose $600k a yr. So the only option is to get the money from shareholdersm or the fortrend facility.

How on earth is erh going to fund the next two wells? Let alone pay for admin. Interesting to note that the admin for the current quarter is only 70k, however the rest of the 9 months it is $1.082m. Erh always start the yr of paying about 500k in the first quarter in admin costs. So erh may run out of cash at the end of the first or second quarter next financial yr? Only have $500k in the bank? Erh is one director down, so they should save a few hundred grand a yr?

What we can gather is a capital raising needs to take place asap,  one there no cash left, and the money will run out in 6 to 9 months, two make it progress till its cash flow netural by drilling the next two wells.

Erh have to continue to drill wells in amercia, this is the only way forward. The brazilian acerage have been a disaster, and retention and no drilling, is what needs to take place. No more money should be spent in brazil until its on erh terms


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## adds4 (1 July 2011)

cheers, sold out of those cheap shares. Should be a capital raising soon. I will buy back then


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## adds4 (4 July 2011)

adds4 said:


> cheers, sold out of those cheap shares. Should be a capital raising soon. I will buy back then




Cant believe i made a $ out of these guys. Still down heaps. Cant hang onto the shares very long in this one, as the selling pressure is so high. Only bought because christian would have been selling at any price, a crappy vague announcment and people bought. Just dont understand that. Dodged a bullet i recon. When the cap raising coming. Hurry up


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## adds4 (10 July 2011)

Been thinking about this stock alot lately, and have come to the conclusion on why we are 2.6 cents. The main one is communication by the company. The reporting by the company is shocking. The person responsible for this is the ceo, and so i believe we need a change. Anybody agree? Never thought like that before, because phil is a good communicator on the phone. Puzzled on why his announcements are structured and worded the way they are


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## adds4 (29 July 2011)

wow, management are only going to take out 10k for administration next quarter. Wonder why? Good to see they dont want to bleed the company fully dry. Cant see how erh is going to fund its well commitment in usa?, when they havent even gotten the reciepts from May and June for the klick oil, and its like august. Phil cant even bring himself to release what the may and june production figures where for klick. I think the ASX will be ringing him for disclosure? Its like pullking out teeth with this one

Just a note for phil, if you want to raise capital from investors you need to disclose current production rates (August) not what happened in April. Surely production is more than april now. If not, disclose it. Not hard


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## adds4 (11 August 2011)

If gfc2 happens, this company is stuffed. I have been calling for a capital raising at higher prices, and nothing happened. I really fear what could happen in the next 6 months because the company doesnt want to raise capital, and has negative cash flow and no money left in the bank. Its almost like management have been "asleep at the wheel". Be progressive, be aggressive with the company. Yes things have gone wrong in the past, get over them, keep trying, cos if you dont we are ALL STUFFED. Lets drill more wells in amercia, if they  are not commercial, find some new acerage. Start again. Try. PLEASE


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## adds4 (16 August 2011)

takeover?


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## adds4 (18 August 2011)

private equity?


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## adds4 (24 August 2011)

nope looks like no one wants to bid. Shame would be cheap at current prices. All you would need is to clear the board, put a new board in place and restart brazil and amercia. Everybody i talk too says its too hard, better to look elsewhere. The company cant survive without capital. Might as well sell out totally and invest my scraps some where else, otherwise this stock will do my head in.


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## adds4 (30 August 2011)

where has the volume gone. No one is selling or buying? Should i just dump and get rid of the buyers. My fear is if i do this will create another low, and hurt everybody else who still has the stock. Might just wait and see. Phil should announce some thing soon that will get the volume going a little bit


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## adds4 (12 September 2011)

capital raising at 2 cents. It was bound to come. The disapointing part is the money isnt going to be used on klick. Klick is pumping 60 bod. So the revenue into the company isnt that great. Must have stuffed up the well. Hopefully its nothing to do with the cement plug, like brazil was. This must be the last try for this board, anymore mistakes or bad lucky will force the board out. Im hoping they can do it. I will be taking up my shares, because the way i look at it, surely the company has learned form previous drills, and going on averages, they should get one right soon or latter.


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## adds4 (13 September 2011)

can you buy more than then your rights. Might buy more than my application. This drilling is going to be company making or company distruction. They are going to get the drilling right this time. I can feel it. Bring it on.


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## adds4 (19 September 2011)

I love this high risk drilling. I think the market likes it too, erh is staying above 2 cents. If it drops below 2 cents i am loading up. This ones a real winner. Even if erh doesnt get the required BOD, the drilling reports, will be gold. Phil has a habit of making the drilling reports confusing. And usually through that confusion,  the share price goes up. Just dont hang around for the production reports. This is usually where it goes all wrong


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## adds4 (15 October 2011)

looks like no one took up the rights. I took up a few, but spent my money on the market when the share price went to 2 cents. Got out with a nice profit in the high 2's. With 87m shares to sell the underwriter has to get rid of them. Im getting rid of all my shares before they do. Everybody else should do the same. I see myself buying shares under 2 cents in the near future, and then get ready for the pre drill spike and then sell again. Very easy to play this stock. When the stock goes up for no reason, thats the sell signal. Easy


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