Australian (ASX) Stock Market Forum

ERH - Eromanga Hydrocarbons

Jump to new
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.

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

They main thing to remember is that B430 is not the only opportunity, there is so much out there for them. Won't be long before someone comes along and notices Phil's achievement :eek:
Click to expand...


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 :p:) 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? :D

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
 
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? :cautious:
 
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? :cautious:
Click to expand...

LOL...a company directors blog on the company's website. I'm sure he is going to paint a picture of doom and gloom :cool: 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
 
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. :D Have a good one.
 
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 :p
 
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.




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

If you are after fundamental analysis, no point looking at a 'oil exploration' company pal...they are speculative :confused: 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
 
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! ;)
 
Hmm Buffett Jr, didn't your dad invest in PetroChina not so long ago? :)

No oil companies hey LOL.
 
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.
 
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.
Click to expand...

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

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