Anticipating a strong positive reaction from the possible announcement tomorrow of awards in Blocks 2 through 6 in the second licensing round of the Nigeria-Sao Tome and Principe Joint Development Zone, ERHC's price has risen $0.015 cents this afternoon and has been steadily trading at $0.535 for about 45 minutes.
Some 130,000 shares have moved at that price, bringing volume at 2:12pm EST to 1,292,168, ahead of yesterday's pace. By 2:42pm, 100,000 more shares had moved, bringing volume to 1,392,293.
Update: At 4pm EST, the closing price was .535, and volume stood at 1,635,357, slightly behind yesterday's 1,852,600 shares. The high for the day, reached at the opening bell, was $0.54.
That has meant a one-day improvement of $1,845 (at the current $0.535) for ERHC On The Move, which is now more than $11,332.85 ahead on the stock.
It appears that many ERHC shareholders may hear the good news firsthand from ERHC Chairman Sir Emeka Offor or CEO Ali Memon at the meeting, to be held at 3pm CST in Houston, Tex., in the conference center at 3 Riverway.
Unfortunately, ERHC On The Move will be unable to attend. We have voted our 123,040 proxies for the name change to ERHC Energy, and against the proposed executive stock plan.