Word comes this morning from the owner of 1.5 million-plus block of ERHC shares that a story by the Dow Jones News Service is in the works for Monday. Unfortunately, this same source thought the awards were going to be announced on Dec. 22!
Dow Jones News Service writer Norval Scott has written extensively about the stock and we hope he is planning something new. You may recall the wire service was forced to issue a correction after its announcement of the bidder on Dec. 15 because they omitted ERHC from the list of bidders. ERHC made substantial bids with our partners Devon Energy, Pioneer Exploration and Noble Drilling, variously, in Blocks 2, 3, and 4, and we have preferential rights in 2, 3, 4, 5 and 6 that might be activated by an award.
We expect that there will be errors in the bid announcement as well, as there always seems to be. That may depress the stock momentarily until a correction is issued, and then allow late buyers to join the party if the results are positive. It's a sorry way to do business, I might add.
As with any matter that may affect the stock, you should check it out directly by going to the Dow Jones Website and locating Norval Scott's address.
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1 comment:
Nice to see you again!
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