UPDATE, 4pm EST, 4/21/05: The Bid is at $0.735 and the Ask now stands at $0.74 on 1,706,300 shares. The price is $0.74, up $0.10. The ERHC On The Move portfolio of 123,040 shares now has a total gain of $36,802.13, with a one-day gain of $12,304.
UPDATE, 3:56pm EST, 4/21/05: The Bid is at $0.73 and the Ask now stands at $0.735 on 1,649,300 shares. The price is $0.735, up $0.095. The ERHC On The Move portfolio of 123,040 shares now has a total gain of $36,186.93.
UPDATE, 3:52pm EST, 4/21/05: The Bid is at $0.73 and the Ask now stands at $0.735 on 1,602,400 shares. The price is $0.735.
UPDATE, 3:47pm EST, 4/21/05: The Bid is at $0.73 and the Ask now stands at $0.74 on 1,591,900 shares.
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UPDATE, 3:43pm EST, 4/21/05: The Bid is back to $0.725 and the Ask is at $0.73, the current price. Volume is 1,516,000 shares. On a 15-minurte delay, at 3:26pm EST there were 303 trades, with 910,299 Buys, 497,051 Sells, and 68,480 unidentified.
UPDATE, 3:40pm EST, 4/21/05: Volume has crossed the 1,500,000 mark, with ERHE up $0.085 to $0.725 and an ask of $0.72, down half a cent in recent minutes.
UPDATE, 3:21pm EST, 4/21/05: With 1,459.300 shares traded. ERHE is now selling for $0.73, with the bid at $0.72. That's a one-day gain of $11,073.60 for the ERHC On The Move portfolio of 123,040 shares, pushing our total gain to $35,571.73.
Meanwhile, the Dow Jones Industrial Average was ahead 200.11 points at 3:37pm EST, and the Nasdaq was up 47.49, one of its largest one-day gains in history.
There's apparently enough good news for everyone!
The Joint Ministerial Council will meet next Monday and Tuesday, April 25 and 26, and announce the awards at the close of their meeting, H.A. Tukur, MFR, Executive Director (F&A) and Secretary of Council said. The letter was dated today, April 21, according to ERHC spokesman John Coleman. He declined to say how the letter was transmitted.
At 2:27:17pm EST, with 225 trades behind us, buys were running nearly 2:1 ahead of sells, with 658,240 Buys to 371,901 Sells and 55,980 unidentified trades. At 2:48pmEST, volume was running at 1,232,500 and the price was $0.715, up $0.075, with the bid $0.0010 lower at $0.714.
At 2:56pm EST, volume hit 1,320,100 shares with the price still at $0.715, an overall $33,726.13 gain for the ERHC On The Move portfolio of 123,040 shares purchased at an average of $0.4394.
Here is the ERHC Energy press release from Business Wire:
ERHC Energy Inc. Receives Confirmation of JMC Meeting Dates
THURSDAY, APRIL 21, 2005 12:48 PM
- BusinessWire
HOUSTON, Apr 21, 2005 (BUSINESS WIRE) -- ERHC Energy Inc. (ERHE) has received a letter from the Nigeria-Sao Tome & Principe Joint Development Authority ("JDA") confirming the dates of the next Joint Ministerial Council ("JMC") meeting .
Mr. H.A. Tukur, MFR, Executive Director (F&A) and Secretary of Council, stated in today's letter:
"Please be informed that the meeting of the Nigeria-Sao Tome and Principe Joint Ministerial Council (JMC) is scheduled for 25th and 26th April 2005, in Abuja, Nigeria. It is after the meeting that the results of the 2004 JDZ Licensing Round will be announced and successful bidders informed.
"ERHC will also be informed in respect of its validated options in the blocks."
On November 18, 2004, the JMC reconfirmed ERHC's rights to acquire Option Interests in the JDZ.
These Option Interests are:
Block 6 15% Signature Bonus Free
Block 5 15% Signature Bonus Payable
Block 3 20% Signature Bonus Free
Block 2 30% Signature Bonus Free
Block 4 25% Signature Bonus Free
Block 9 20% Signature Bonus Payable
"We thank the JDA for their commitment and efforts in taking the next step in a process that has garnered world-wide attention," said Mr. Ali Memon, President and CEO of ERHC Energy Inc.
About ERHC
ERHC (ERHE) was formed in 1986, as a Colorado corporation, and was engaged in a variety of businesses until 1996, when it began its current operations as an independent oil and gas company. Today, the company operates under the name ERHC Energy Inc. with the goal of maximizing its value through exploration and exploitation of oil and gas reserves and production in the Gulf of Guinea offshore central West Africa. ERHC's corporate offices are located in Houston, Texas.
SOURCE: ERHC Energy Inc.
ERHC, Houston
John Coleman, 713-626-4700
Copyright Business Wire 2005
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