ERHC On The Move

Shell: 'worst oil spill in a decade' hits Niger Delta

2011-12-22T20:01:00.004-05:00

Nigeria has declared a state of emergency after the worst oil spill in a decade was reported by the Shell Oil Co., the country's biggest partner in the petroleum business, according to the Guardian of London.Here is the item:Nigeria on alert as Shell announces worst oil spill in a decadeNigerian coastal and fishing communities were on Thursday put on alert after Shell admitted to an oil spill

We picked the wrong horse

2010-12-28T18:21:00.001-05:00

At least that’s the way it appears, as another West African oil company with substantial interests in the Gulf of Guinea, the long-maligned Hyperdynamics (HDY, I think) hit $5.35 at the close today. I wrote about its trajectory three or four months ago when it was below $2, and got the usual flak from the usual suspects. Now, as I was once before, my advice has been well-validated by the

ERHC Energy Gets 6-Month Extension on Block 2 Development

2010-10-14T18:11:00.004-04:00

ERHC Energy has announced that it's gotten a 6-month extension on its efforts to develop the as-yet unproducing Block 2 offshore Nigeria concession in the Gulf of Guinea's Nigeria and Sao Tome Joint Development Zone, a stock tip letter has reported.Here's the report:ERHC reports extension of Exploration Phase I in JDZ Block 2EBR Staff Writer Published 14 October 2010 ERHC Energy, a US based oil

UPDATE: Investors Warned to 'Stay Away' From ERHC;Placement Agent Says Deal Will Close Oct. 12

2010-10-07T19:10:00.016-04:00

A stock tipster today told investors to "stay away" from ERHC Energy shares after the company sold $2 million of its stock at a $0.08 offset to Wednesday's share price, putting "massive" pressure on the stock. The deal is set to close Oct. 12.Immediately below is the Thursday, Oct. 7, 2010, stock tip. An Oct. 8 update from the brokerage that handled the deal follows:ERHC ENERGY INC. (OTCBB:

ERHC Gets More Times to Expolore Blocks 3 and 4

2010-09-30T09:20:00.003-04:00

Good news for investors in a press release today from ERHC:Sep 30, 2010 09:10 ETERHC Energy Inc. Announces the Extension of Exploration Phase I in JDZ BlocksHOUSTON, TX--(Marketwire - September 30, 2010) - ERHC Energy Inc. (OTCBB: ERHE), a publicly traded American company with oil and gas assets in the highly prospective Gulf of Guinea off the coast of West Africa, today announced that the Joint

Nigria's State Oil Co. Is Insolvent, BBC Reports

2010-07-14T06:48:00.001-04:00

13 July 2010 Last updated at 18:47 ET Nigeria state oil firm NNPC insolvent, says ministerNigeria is a crude oil producer and exporter, but must import refined fuel Nigeria's state oil firm is insolvent, unable to pay debts of $5bn (£3.3bn), a government minister has said.Junior Finance Minister Remi Babalola said the Nigerian National Petroleum Corporation had asked for help to cover its debts

Tampa Picked As GOP Convention Site

2010-05-13T14:40:00.001-04:00

Click to Play Tampa's city leaders reacted with jubilation Wednesday when they learned the city would host the 2012 Republican National Convention, bringing with it 3,000 jobs and $175 million in spending. As Joe Shea of the American Reporter points out,, the Florida Republican Party is in turmoil and the convention may be a way to unify it..

How To Burn The Oil Spill - Really!

2010-05-12T09:22:00.002-04:00

International Journal of Hydrogen EnergyVolume 8, Issues 11-12, 1983, Pages 929-930 Hydrogen: Today, Tommorrow and Beyond --------------------------------------------------------------------------------doi:10.1016/0360-3199(83)90117-9 | How to Cite or Link Using DOICopyright © 1983 Published by Elsevier Ltd. Cited By in Scopus (0) Permissions & Reprints Combustion technology of oil mixed

Our Deepest Condolences

2010-05-08T05:27:00.008-04:00

ERHC On The Move, and it readers, convey to the President, Government and people of Nigeria our deepest sympathies and heartfelt condolences upon the death of President Umaru Yar'Adua. With you we, too, felt that he was a bright hope for Nigeria's future and a man who could lead his country out of the morass and mire of corruption and instability in which it has long foundered. At the

For You, Mr. President: 2 Technologies That Can Quickly Save The American Economy

2010-04-03T13:45:00.006-04:00

President Barack Obama at a Town Hall meeting in North Carolina this week challenged his audience and the inventors of the United States to alert him to any technologies of an alternative kind that have the promise of reducing our dependence on fossil fuels and foreign oil. I know only too well that alternative technologies are working and available now, or need just a small amount of help to

250 Million HHO PEM Generators Needed For Hydrino Engine Market

2010-03-23T14:51:00.004-04:00

Not much detail is visible, but this small hydrogen generator is in use now on 20 hydrino reactors running at BlackLight Power's headquarters in New Jersey. Photo: BlackLight Power Co.2:41 AM, March 23, 2010 -- For HHO developers, the hydrino cell stack from BlackLight Power Co.will mean a market just in the United States for 200 million standard automobile hydrogen PEM cell generators, and

Using PEM Generator, Cars With Hydrino Power Get 1,500 Miles Per Liter Of Water, Company Says

2010-03-23T14:45:00.007-04:00

4:18 AM, March 21, 2010 -- Hydrino-powered vehicles will travel 1,500 miles on a single liter of water when coupled to an on-board hydrogen generator, which would use just 1% of the power consumed by the Toyota Prius, the BlackLight Power Co. said in engineering papers released March 19. Here's the precise if a bit complicated language of the paper issued this past Friday: The typical reaction

BlackLight Power Gets $10-Million Investment And A Huge Order For 750-Megawatt Hydrino Reactor

2010-03-23T14:39:00.005-04:00

In this small, 50-kilowatt hydrino reactor - enough to provide power to 10 homes - hydrogen atoms are heated and then resonate with a NaH catalyst that absorbs photon from their orbit, creating the fractional state of he atom that is called a hydrino. Heat created in the process of stripping the photons turns a steam turbine to create electricity, while some hydrinos return to regenerate the

ERHC's Dan Kenney Responds To Ledbetter Charges

2010-01-14T20:11:00.006-05:00

ERHC Energy's p.r. contractor, Dan Keeney, has responded to publication of Jim Ledbetter's charges without addressing any of the particulars. The company was unavailable for comment at the time the story was posted before dawn on Wed., Jan 13, and after midnight on Jan. 14.Here is his comment:Date: Wed, 13 Jan 2010 09:52:45 -0600From: "Daniel Keeney, APR" Joe:Your post the other day stated that

With Fed Probe Behind It, ERHC Faces New Charges From Ledbetter

2010-01-13T01:49:00.004-05:00

The FBI has returned all the documents it seized from the company's Houston headquarters as part of the probe of Rep. William Jefferson that sent the former Louisiana congressman to federal prison, it said Tuesday. ERHC On The Move had long reported that the investigation was a long and fruitless exercise based on no more than a newspaper clipping concerning the ex-congressman in its files. Other

Broke, Alone And Desperate, ERHC's Ledbetter Is At Brink Of Suicide

2010-01-12T06:23:00.009-05:00

Somewhere in Houston this morning, former ERHC Energy technical engineer James Ledbetter is alone, cold, living in his car, angry and a little drunk. "I am just so angry," he told us in a 20-minute phone call at 4:37 AM local time. "Peter Ntephe, the CEO of ERHC Energy, violated the Federal Corrupt Practices Act by making a $240,000 payment to Godsonic to sign off on a document that they were

No Oil, But Plenty Of Money For New Investments

2010-01-09T02:45:00.003-05:00

After spending a small fortune trying to find oil without success in the Gulf Of Guinea, a Saturday January 9 report says ERHC Energy is going to explore the possibility of joint ventures with other firms in the oil and energy business in Nigeria. This comes as the company also announced the end of drilling in Block 4, where five wells drilled over the past four months have not yielded any

A JV Opportunity Too Good To Pass Up

2009-12-15T09:05:00.010-05:00

Our Florida non-proft educational organization, HHO Games & Exposition, Inc., is located in Bradenton, Fla. We're looking for small investors to help fund a variety of currently profitable hydrogen-technology businesses that we bring together several times a year for large public exhibitions that attract upwards of 2,500 people. Our first annual all-day (8AM - 9PM) Hydrogen Builders Conference on

ERHC Expands Into Nigerian Coastal Waters

2009-11-30T19:48:00.006-05:00

A press release last week told of ERHC Energy's creation of a Niogerian office for exploration with partners of the country's potentially righ coastal waters. Here's the release:ERHC Energy Plans To Expand In Nigerian Oil and Gas IndustryPublished: 24-Nov-2009ERHC Energy, a company with oil and gas assets in the Gulf of Guinea off the coast of West Africa, has revealed that negotiations have

Drilling Finished In 2 Wells, ERHC Says, But No News Yet

2009-10-08T13:15:00.007-04:00

ERHC Energy released an update on its drilling in the JDZ today, but was unable to say whether significant deposits of oil were struck. That news - or the absence of it - will probably come soon.Here is the press release, which pretty much speaks for itself:ERHC Energy Inc. Updates Shareholders on Drilling in the JDZ© Marketwire 200908.10.2009 13:15:02 (live-PR.com) - HOUSTON, TX -- (Marketwire

Sinopec Buys 100% of Addax, But 0% of ERHC Energy

2009-10-07T09:14:00.004-04:00

Well, we won't get any prizes for perspicacity, because we missed the news completely, but Addax, our partner in several blocks in the Joint Development Zone, has been acquired by our other partner in the JDZ, Sinopec.Here is the press release:Sinopec Acquires 100% of Addax Petroleum's SharesAddax Petroleum Corp.|Tuesday, October 06, 2009Sinopec International Petroleum Exploration and Production

China's CNOOC In Bid To Buy A Sixth Of Nigerian Oil Reserves; Gains For ERHE Seen

2009-09-29T06:39:00.006-04:00

The news tickers are chattering happily away this morning with a Reuters story that China's giant overseas financial arm, CNOOC, plans to buy uo to one-sixth of Nigeria's oil reserves in one fell swoop for up to $30 billion.There is no word yet on whether the company has its eye on ERHC Energy reserves in the Gulf of Guinea, where ERHC is partnered with Sinopec, also a state-owned company not

A Triumph Over Adversity Brings Offor To The Brink of Greatness

2009-08-26T15:06:00.008-04:00

Drilling for oil in the Gulf of Guinea's Nigeria-Sao Tome and Principe Joint Development Zone has begun, ERHC Energy announced today, bringing to a close a long, difficult and contentious struggle for concession rights in the JDZ that often threatened to derail the entire company. Today's events are nothing short of a grand tribute to the vision and the determination of Sir Emeka Offor, the

ERHC Rival Hyperdynamics Soars

2009-08-12T10:14:00.003-04:00

After some key hires and a live teleconference, ERHC Energy's friendly rival in the West African waters has soared more than $0.50 in three days. The stock had been trading as low as $0.53 just 10 days ago, and hit $1.10 a few minutes ago, up from $0.93 at the open. It had closed on Monday at $0.73, and at $0.62 last Wedneday. Along with ERHE FEEC, it is one of the three smaller oil securities

Rep. Jefferson Convicted On 11 of 16 Counts Of Bribery

2009-08-06T12:49:00.002-04:00

At a trial where ERHC Energy was never mentioned, Rep. William Jefferson fought to put his many African relationships in a better light - and failed. A federal jury yesterday convicted the infamous Louisiana congressman on 11 of 16 counts of bribery after an investigation that began with the discover of $90,000 carefully wrapped amid household food items in a deep freeze at his home.The cold

A Motor To Power Your Home For Free

2009-08-06T12:48:00.000-04:00

ERHC Energy Updates Shareholders; Sinopec To Drill On Aug. 20

2009-07-30T16:17:00.004-04:00

A few minutes ago, ERHC Energy officially realesed a shareholder uypdate. The company says Sinopec plans to commence drilling around Aug. 20, and that Addax is also expecting to drill in August. There are a few new details about the SEDCO 702 submersible units to be used by Sinopec, capable of drilling in water depths of 6,562feet and to 25,000 feet and as deeply as 25,000 feet.Read on: Chief

How HHO Works

2009-07-25T05:08:00.001-04:00

Click to Play Barry Holszweig, the owner of the first dedicated HHO facility in the world - a six-bay garage called YourWater2Gas at 18300 US Hwy. 19 at Bellaire Road in Clearwater, Fla., - explains how onboard hydrogen generators get additional power and fuel savings from the novel technology. Much of the American HHO industry is represented

A Director's Death Saddens ERHC Energy Management

2009-07-10T19:02:00.003-04:00

The unexpected death of Clement Nwizubo, a Nigerian friend of the Sir Emeka Offor family and member of ERHC Energy's board of directors, has saddened management and stockholders. The promising young oil company with vast concessions in the Nigeria-Sao Tome and Principe Joiunt Development Zone thas attracted billions in investment to offshore Africa and the Gulf of Guinea, and Nwizubo had a bright

Platt's Says Sinopec May Buy Out ERHC Holding

2009-07-01T17:54:00.002-04:00

An article in the usually authoritative Platt's Oil & Gas Industry Newsletter says today that Sinopec may have plans to buy out the holdings of ERHC in Blocks 2 and 4 of the Nigeria-Sao Tome & Principe Joint Development Zone, where Chevron's first try hit oil in 2006 but the discovery was deemed non-commercial - possibly for strategic reasons.Here's the Platt's article:Sao Tome drilling gets

BIG News: Sinopec Makes A Bid For Addax, ERHC Says

2009-06-24T19:02:00.013-04:00

Without addressing the issue of its concessions under the joint venture with Addax, ERHC Energy released a statement this morning confirming that an agreement has been reached for the Swiss player to be acquired for $52.80 a share, a 47% premium over the June 9 share price, by Sinopec, the sixth-largest oil company in the world and the second-largest in China. The price is protected by a $300

No Bid From CNOOC On Addax, But It's A Complex Game

2009-06-14T23:16:00.006-04:00

Despite an enormous amount of published specualtion, Sinopec to date has made no offer for Addax, according to late reports Sunday night from Bloomberg News. That development will probably trigger a sell-off Monday morning, following a 10% share-price decline on Friday. The backtracking should not go very deep, hpowever, and we would tend to believe that with drilling just months away, it may

ERHE Soars to $0.695 As Addax Buyout Talk Links To ERHC Energy Holdings

2009-06-12T05:42:00.006-04:00

ERHE.OB has soared to $0.695 at the beginning of what may be a world-record run for this plucky stock that's gone to Hell and back to hang on to its rights in the highly prospective Gulf of Guinea Blocks 2, 3 and 4 of the Nigeria-Sao Tome & Principe Joint Development Zone.The ride from @0.11, where it was mired for months until January, now holds promise to finally reach the $1 mark that for so

ERHC Holdings Attractive Element In Addax Buyout Plan, Report Says

2009-06-11T13:20:00.005-04:00

We got strong support for our commentary published Sunday night on the proposed buyout of Addax and the role of ERHC Energy in that possible deal. This report from Nigerian's Guardian has to be taken with a grain of salt, though, as the newspaper may well be subject to corrupt influences endemic to Nigeria. On the downside, the article quotes an Addax statement as saying it will "commence

WSJ Reports Big Jump In Addax Shares On Possible Takeover Bid From Sinopec

2009-06-08T15:27:00.007-04:00

Apparently following up on our post the other day (see below), Addax shares are jumping today on speculation that they may be purchased by our Block 2 and 4 partner, Sinopec.We reported that Addax, in turn, may take over Anadarko's share of the highly prospective Block 3. It's unclear whether Sinopec's interest in Addax is due or related to that development, which at this stage remains a

Will Addax Take Over Block 3 From Anadarko?

2009-06-07T02:55:00.003-04:00

We got word from a longtime ERHE investor that Addax will take over Anadarko's present role as operator in Block 3, a development that could finally bring to an end the bitterness that has enveloped that block since it was awarded to the Oklahoma oil giant in a fierce competition several years ago. Nothing has happened there since, even after Chevron hit what the Wall Street Journal mistakenly

Drilling In June? Maybe Not, But Soon

2009-05-21T12:36:00.008-04:00

Big, price-driving news from the Gulf of Guinea and the Joint Development Zone - Sinopec is going fishing. The company plans to start drilling in Block 2 and Addax plans to drop anchor in Block 4 as soon as July, according to the sometimes-reliable Portuguese news agency Lusa.While we don't axctually believe this will happen in June, and neither does Lusa, it shouldn't be long now. We do expect

Now, Make That 100%!

2009-01-28T12:57:00.002-05:00

Anyone who followed my advice of a few weeks ago made 100% on whatever they invested at $0.11. I probably ought to quit while I'm ahead! The stock was up $0.06 yesterday to $0.23. As usual, it was just misplaced enthusiasm about the prospect of a drillship getting to the Gulf of Guinea laer this year.

Merry Christmas Redux!

2009-01-23T15:34:00.005-05:00

As I predicted just before Christmas (see my "Merry Christmas!" post, below) anyone who bought a boatload of shares for $0.11 would make 20% on their money at $0.14 by March. Well, I was playing it safe - they made 20% by today, Jan. 23, when the share price reached $0.1425. On 300,000 shares, that would be about $9,000, giving a quarter-cent to the market makers..Congratulations if you listened

Ledbetter's Laments

2009-01-23T05:12:00.004-05:00

We've had a long conversation with Jim Ledbetter, the company's recently separated Chief Technical Officer. He is doubtful, I gather, that the Adan Abraham will ever be our drillship, but notes that several others are possibilities. Nonetheless, he isn't hoping for any drilling activity until the last quarter of 2009.He was critical of decisions to throw away corporate money on lawsuits that

Merry Christmas!

2008-12-25T16:37:00.005-05:00

Just a short note to all of our readers to extend the best wishes of ERHC On The Move and Joe Shea to you for a happy, healthy, prosperous and safe New Year.I have of course been following the sad path of ERHE as it has moved from $0.60 all the way back down to $0.11, where it seems - at least for now - to have finally found a bottom.Is there hope for those of us with ERHE stock to make some

Nigeria's Strong, President Says

2008-10-01T03:20:00.003-04:00

In ceremonies to mark the coutry's 48th anniversary of independence from Britain, Nigeria's President Umaru Yar'Adua said the African continent's largest producer of oil and gas remains "on a strong footing" and would continue to see double-digit growth with modest inflation, Bloomberg News reported.Stability is perhaps Nigeria's most precious commodity on a continent wracked by brutal and

Doubts About ERHC Rights Raised In Nigeria

2008-09-10T15:38:00.003-04:00

Saying several officials had been quoted in the Nigerian press as saying ERHC Energy had lost some of its rights "by its own accord" in the Nigeria-Sao Tome and Principe Joint Development Zone, the company's spokesm,an, Dan Keeney, issued a press release asking for clarification of the comments concerning Blocks 5 and 6 of the JDZ.The two blocks had not been very high on anyone's list for

3rd Q Results Are In; Webcast Available

2008-08-19T13:51:00.003-04:00

As ERHC Energy falls once again, the company has released its 3rd Quarter financial results. The company spent almost $3.4 million and increased its net loss as interest income fell.A company Webcast remains available until Sept. 12, and a replay of the conference call is available for listeners today.Here is the press release: ERHC Energy Inc. Reports Third Quarter 2008 Financial Results Aug 12,

Sinopec To Halt Oil Exports

2008-05-30T01:03:00.002-04:00

Sinopec, ERHC Energy's partner in the Nigeria-Sao Tome Joint Development Zone Blocks 2 and 3, has decided it will not export oil outside of China begginning in the third quarter, it announced yesterday. It is China's third-largest oil company, and the sixth-largest in the world.The China Daily News said today that the decision was made this week as the world's most populous nation faced multiple

An Enterprising Move On The Corporate Development End

2008-05-05T07:25:00.003-04:00

ERHC Energy has acquired a well-qualified VP for Corporate Development who will search for new ways to extend the company's holding, assets base and profits in coming years. It's a positive step in the current trading environment, but ERHE shares responded anemically after the appointment was made on April 30.Here is the press release:ERHC Energy Inc. Appoints Vice President Corporate

Another Day, Another $0.06

2008-04-24T03:37:00.004-04:00

Shares of ERHC Energy dropped sharply again on Wednesday after the uninspiring shareholders' meeting. ERHE was down 5 cents, or 13 percent, for the second straight day.The chart-readers say resistance at $0.39 may keep us at the current level, but I'm hoping - sorry to say it - we will see a return to the $0.20 era, where I'd like to replenish my hoard of shares.How likely is that? Less so

Annual Meeting: Good News, Bad News, And A 13% Price Drop

2008-04-22T23:07:00.007-04:00

As I anticipated in an earlier post here, there was no good news coming out of the ERHC Energy annual shareholders meeting except that our Acting CEO Nicolae Luca is leaving and that company Secretary Peter Ntephe, with us since 2001, will take his place in the same transient capacity.There was some unnerving news, though: it seem our drillship, the Aban Abraham, is still in drydock and not

Why Cancer Cures Are A Dime A Dozen

2008-04-14T03:09:00.003-04:00

Did anyone see the Leslie Stahl piece Sunday nioght after the Master's about a man's homemade garage-workshop cure for cancer? John Kanzius proved that heating tumors tagged with liquid metals like gold nanoparticles can utterly destroy cancer in rats in a heartbeat.But don't get excited. It's another real cure that will go nowhere.I recently tried to get the St. Pete Times to write about the

Good News

2008-04-12T21:13:00.003-04:00

There's a message barely spoken in the statement of a high-ranking Justice Dept. official associated with the Rep. William Jefferson bribery case and the decision by the US Supreme Court Friday not to hear an appeal by the DOJ of a denial by an appellate court of the Department's right to raid Jefferson's congressional offices.The word is "potential," as in the DOJ feels the Supreme Court made it

Big Moves

2008-04-04T13:53:00.004-04:00

Up again, down again, up again - the daily leaps and stumbles of ERHE are hard to predict and perhaps harder still to understand. One certainty is that the penny-stock newsletters have been successively weighing in ever since we started our move up from around $0.25. Today's tipster, which rated a blurb on my E*Trade news engine, helped push the stock from $0.42 to $0.48 today (it's down at

From The 'Nuff Said Dept.

2008-04-01T20:23:00.000-04:00

ERHC On The Move By Location > Visit Detail Visit 388,030 [<<] [>>] Domain Name usdoj.gov ? (U.S. Government) IP Address 149.101.1.# (US Dept of Justice) ISP US Dept of Justice Location Continent : North America Country : United States (Facts) State : District of Columbia City : Washington

ERHE Set To Open At $0.59

2008-03-31T09:20:00.002-04:00

ERHE is set to open $0.07 higher than it closed on Friday, an unprecedented kind of leap for this stock and and yet another indication it is headed for the stratosphere.Three purchases of 7,500 shares went off at $0.54 and then $0.59 in the early extended hours trading. Now, a total of 20,000 shares have traded at this price.

Comments. Anyone?

2008-03-30T02:21:00.003-04:00

With time, wounds heal. The rotten spam produced by the former moderator of the Investor's Hub message board is behind me now, and I have reopened the board here to comments for the first time in a couple of years. Just click on the "Comments" link at the bottom of the post to begin the registration process.I can't say I haven't learned a few things. To comment, you must register and become a

Who Reads This Blog, Anyway?

2008-03-29T20:16:00.002-04:00

One answer to that question is "Folks in Houston, folks at the beach, and folks in Canada," at least based on a cursory glance at the origins of our last 100 visitors. Here's the list: Can you pick out your hometown? 1 United States Buffalo, New York 2 United States 3 United States 4 United States Bradenton, Florida 5 United States Tulsa, Oklahoma 6 United States Cape Coral,

What A Wonderful Week It Was

2008-03-28T23:52:00.008-04:00

Well, we're up 100 percent in the past week, surpassing the expectations of even the most ardent and vocal longs. Why did it happen, and what does it mean?First, it means that Sir Emeka Offor can exercise his option to buy 1,000,000 shares at $0.25 he`was granted last year and make $270,000 doing so at Friday's closing price. That ought to put him a good mood next week. Then there's 5,250,000

Luca Updates Shareholders: Drilling In 2008

2008-03-27T16:23:00.007-04:00

Acting ERHC Energy CEO Nicolae Luca has released another of the company's useful monthly updates, this one closer to spelling out the drilling date for Block 4, where the company has a 26.7% interest - "as early as the last quarter of 2008" - and also called attention to the Addax presentation that seems to promise huge quantitites of oil in Block 4 and other concessions:The images showcase what

What A Dope!

2008-03-27T10:43:00.007-04:00

Investors who never cared much for me, anyway, have the right to gloat this week. I sold 81,000 shares at $0.29, aceing myself out of more than $8,000 in gains since then. The stock hit $41 today.Why is the runup happening? I like to think it's because of the write-up I gave the stock in The American Reporter, my online newspaper, on the Monday morning when it looked like Bear Stearns Cos. was

I'm Out - At Least For Now

2008-03-24T19:54:00.001-04:00

I liquidated all but 100 shares of my 81,625-share position today at an average of $0.29, earning around $3,200 on an investment made in about six buys between last June and early March. I suspect I'll be back in again before long. I continue to believe in this stock, but I need some money to live on, too, and it freed up four times the proceeds for margin buys. Bear Stearns, anyone?

'Whiteboard' Niotes Were Staged, Meaningless, ERHC's PR Man Says

2008-03-24T19:41:00.007-04:00

Dan Keeney, the much-improved public relations man for ERHC Energy, tried to pop the balloon of interest that has seized Investor's Hub ever since an investior gave Balance Builder a few blow-ups of a photograph showing apparent deal-making in the works at a recent Nigeria Oil & Gas conference. Speculation has been that the various notes on the whiteboard show ERHC's desire to attract investment

Wow! Great Detective Work Illuminates ERHC's Buyout / Acquisition Plan

2008-03-22T07:18:00.009-04:00

An extraordinary revelation on Good Friday by Investor's Hub moderator balance_builder has the whole board talking - and all of us scratching our heads as we try to make sense of a white board presentation, apparently from a road trip or the Nigerian Oil & Gas Conference last Fall. Click on any of the photos below to enlarge them.First, here's the link to the Flash video in question, with

ERHC Goes All YouTube

2008-03-20T20:38:00.003-04:00

Well, that's surely an exaggeration, but the debut performance of Technical VP James Ledbetter on an Internet video about the company's Gulf of Guinea prospects got largely negative reviews for performance but excellent reviews for knowledge, which probably suits Ledbetter fine. Generally, investors thought he looked nervous (by contrast, watch me debate two Republican strategists on Iranian

Anticipation Builds

2008-03-20T12:08:00.004-04:00

ERHC Energy has formally noticed its Annual Shareholder Meeting, and there's lots of talk on Investor's Hub about going or not going and especially the content of a proposed shareholder motion from the floor at the April 22 meeting. Suspecting that it is a motion to sell the company, the price of our shares has been moving fitfully in a modestly upward direction. The kinds of gains we have seen

Mysterious Dealings, Major Gains

2008-03-15T02:39:00.004-04:00

ERHC Energy's largely unwanted reputation for mysterious dealings won another notch yesterday as the share price defied the "perfect economic storm" that hit U.S. markets Friday and rose 13% - as much as Lehman Bros. fell - and a huge trade of 357.000 shares hit the tape 14 minutes after the close and then - what else? - mytseriously disappeared.I had purchased about 6,000 shares over the past

Update On Aban Abraham; Kosmos Drilling Funder 'Staring Into Jaws Of Hell'

2008-03-10T11:48:00.017-04:00

A poster on IHub has updated us with a graf from the Aban Abraham Website describing the activities of the ship, and suggesting an earlier drilling date than we have seen before, but the big news is the financial condition of the two venture capitalists that have offered a "provisional commitment" to Kosmos to fund their drilling offshore Ghana in West Africa. Spokesman for both companies have

Aban Abraham To Set Sail In March? That's What Nigeria's Punch Says

2008-03-07T20:18:00.004-05:00

I take it was a hopeful grain of salt, as it's quite contrary to what we've heard from the company and from Addax, but according to Daily Punch, a leading Nigerian newspaper, the Aban Abraham drillship is setting sail this month for the Gulf of Huineau and our blocks in the JDZ. And the source of this knopwledge? None other than our new Controller, Sylvan Odobolu, whom we all hope was either

ERHC Makes A Showing At Nigeria Oil & Gas Conference

2008-02-28T02:15:00.014-05:00

The Company produced a modest photo album after its successful exhibition and sponsorship of the Nigeria Oil & Gas Conference last week in Abuja. The conference was at least partly responsible for a substantial recovery of the stock's share price, which went from $0.175 to $0.25 in a few days.ERHC Energy's Peter Ntephe (left) and Sylvan Odobulu had a busy week telling ERHC's story and answering

What would Addax Buy From ERHC? A Sad Scenario

2008-02-24T16:14:00.004-05:00

The news that Addax, our operating partner in several blocks of the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ) has squirre;ed away $1.5 billion for acquisitions has stirred anticipation that a $2 per share offer may be forthcoming from the Swiss drillers whose fortunes, for better or worse, have been allied with ours for more than a year.That amount - $2 per share x 722,239,000

New Brochure Touts ERHC's JDZ Holdings

2008-02-19T12:20:00.003-05:00

Taking advantage of new visibility it's gotten by sponsorsing an exhibition at the Nigeria Oil & Gas Conference this week, the company released a brochure it's developed to highlight its strong opportunities in the Nigeria-Sao Tome Joint Development Zone.The brochure is available as for download as a PDF file, and is to my knowledge one of the first ERHC Energy has produced for general

PGS, EEL And Cherwayko Get Bad Press On Sao Tome Deals

2008-02-15T12:15:00.004-05:00

An article posted on the market-watching site ADVFN (we have had an account there for three years - just $6.99 a month - and highly recommend) spells out in a lot of detail the contracts with Sao Tome & Principe, the tiny island nation that may hold the key to untold oil riches in the near future, and where ERHC Energy's rights had long been a political football. It may be the first time that

ERHE Investors Jubilant As Price Improves 16%%

2008-02-12T15:33:00.000-05:00

ERHE's share price - as is customary in February - took a nice forward leap today, rising from yesterday's close of $0.195 to as high as $0.23 before settling back after 3:30PM ET to $0.225, a 16% gain. The stock could still move before the bell, but Buys were still outstripping Sells by about 2.5:1, with 537.376 Buys to 198,652 Sells as the closing bell approached. At 3:52pm ET, there had been

EEL, Our Neighbor In Block 2, Sees 2008 Drilling And EEZ Oil

2008-02-06T22:01:00.000-05:00

An insightful investor found some new EEL data and argumentation on ADVFN for the quality of our JDZ investment in Block 2 and posted a link to Investor's Hub. But the site requires login and payment, and since I use ADVFN for my own trading I thought I should share it with you.The link, if you want to sign up for ADVFN's excellent and very low-cost services, is: http://fr.advfn.com/cmn/fbb/

ERHC Update Promises Help To Charities

2008-02-04T15:41:00.000-05:00

Is ERHC Energy turning over a new leaf, or just renewing old commitments? A Jan. 31 letter from CEO Nicolae Luca to shareholders says the company has contributed to orphans in Nigeria, an anti-drug campaign in Houston and other projects. To date, that has included token contributions to an orphanage in Nigeria, a conference by Let's GoAfrica (an Africa-focused charity in Washington, D.C.) and

Where Are All The Sellers?

2008-01-30T10:27:00.000-05:00

Yestersday's blockbuster announcement that Addax has set a firm date to begin drilling in Block 4 of the Nigeria-Sao Tiome Joint Development Zone was expected to start a wave of selling this morning, but just the opposite has happened. Buyers are coming in, although in modest numbers, apparently attracted by the lure of certainty at last on an issue that has long inspired doubt.While one

Egyptian Driller Buys 10% Of Block 4

2008-01-22T14:30:00.000-05:00

Egypt's sixth-largest natural gas producer, which is currently producing 32,000bpd of crude, announced this morning that it has acquired 10% of Block 4 from the troubled Hercules/Centurion joint venture that lacked the money to reap the oil riches believed to await explorers in the most sought-after property in the Nigeria-Sao Tome & Principe Joint Development Zone.The development puts drilling

Reporter Says ERHC No Factor So Far In Jefferson Trial

2008-01-22T12:22:00.000-05:00

A journalist whom I cannot name, but who is well-known to ERHC Energy investors for his coverage of the Rep. William Jefferson case and its ties to Florida investor Noreen Wilson, a former ERHC Energy executive, says that to his surprise there is no indication that the company will play any role at all in the Jefferson case. Instead, he said, the only Jefferson-related link between Wilson and the

HAS A HOLIDAY SAVED THE U.S. ECONOMY?

2008-01-22T04:48:00.000-05:00

BRADENTON, Fla., Jan. 21, 2008 [Updated 1/22/08, 5:07AM ET]-- Anyone with money in the U.S. stock market has a debt of gratitude due and payable today to Dr. Martin Luther King, Jr., and to the much-criticized members of Congress who supported making his birthday a national holiday that closed banks, schools, government offices and stock markets.For the second time in 14 years, Monday's holiday

The One That Got Away: Don't Let It Be ERHE

2007-12-31T15:07:00.000-05:00

It was with great chagrin that I discovered an article on ERHC Energy I missed when it came out in the New York Times this summer. I was en route to my brother's lake house at Lake Oconee, Ga., to celebrate the Fourth of July, and didn't have Internet access at the house. I was updating the American Reporter newspaper at odd hours of the day from the nearby Ritz-Carlton at Reynolds Plantation

Volume Tops 2 Million Today, But Gains Are Modest

2007-12-26T19:18:00.000-05:00

The volume of trade in ERHC Energy shares jumped by more than 1.7 million on the day after Christmas over the 600K daily average to 2.3 million shares today, but the price remained near-static in a range of $0.195 - $0.21 and closed at $0.205, unchanged from the day before.Much of the selling was driven by tax-loss considerations, but some opined on investor boards that market makers were

New Earnings Report Highlights January Conference Call, $34.7 Million In Assets

2007-12-26T18:16:00.000-05:00

Just 15 minutes from the close on Dec. 14, ERHC issued a 4th-quarter earnings report that shows plenty of cash - some $34.7 million in assets altogether - on the balance sheet and a sharply reduced cost of operations, while stirring expectations of drilling news with the announcement of a conference call on Jan. 15. The call will be archived and available for replay at LiveMeeting.com site

2007-12-26T18:08:00.000-05:00

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Rep. Dennis Kucinich Talks To Joe Shea/The American Reporter

2007-12-04T17:39:00.001-05:00

Click to Play

Hints Of Drilling Delay Sink ERHE 10 Percent

2007-12-03T12:15:00.001-05:00

Hints iof a drilling delay in today's letter from ERHC Energy acting CEO Nicolae Luca sunk the share price of ERHC from $0.225 to $0.205, or almost 10 percent this morning, but investors apparently ignored the good news that Addax is seeking to "accelerate" its drilling program on the blocks it jointly operates with ERHC by getting an additional rig to the Aban Abraham, which has already been

Rep. Ron Paul On Rudy Giuliani's 'Appeasement' Charge

2007-11-29T01:56:00.001-05:00

Click to Play

Shareholder Meeting Is Set For April 22, 2008

2007-11-21T18:20:00.000-05:00

According to a press release from the company released yesterday afternoon, a shareholders' meeting is set for April 22, 2008, in Houston to hear the latest news and financial reports from ERHC Energy, the "minnow" that has some of the biggest fish inthe world - in the form of ptentially massive oil deposits - on the line and hopes to start landing them next Fall.The oil deposits in the Gulf of

Florida Democrats to the DNC: Count Our Votes!

2007-10-29T03:25:00.001-04:00

Click to Play In a 10-minute clip from The American Reporter. 14 Florida Democrats ranging from state party chair Karen Thurman to Congressional candidate Christine Jennings talk about their reaction to a ruling by the Democratic National Committee rules committee not to count the votes of Florida Democrats in the state's Jan. 29, 2008, presidential primary. The DNC says

Has SNP Acquired Chrome's Interest In ERHC?

2007-10-17T13:40:00.001-04:00

Anyone watching the meteoric rise of Sinopec NYSE: SNP), our partner in Blocks 2, 3 and 4 of the Nigeria-Sao Tome Joint Development Zone, has to wonder what's driving the stock's price - it's been up about $25 since last Friday, and is up $17 today to about $171.As I thought about it, I realized that when Sir Emeka Offor transferred all of his 42% holdings in ERHC Energy (OTCBB: ERHE) to Chrome,

Addax Revealed: A Terrific Profile Of Gandur, Addax's Chief and ERHC's Key Partner

2007-09-30T02:13:00.000-04:00

This is an absolutely terrific profile of Jean-Claude Gandur, the Swiss businessman whose partnership with ERHC Energy has taken us in so many interesting directions.Trouble Is My Businessby Christopher Helman 10.15.07, 12:00 AM EThttp://www.forbes.com/free_forbes/2007/1015/099.html?partner=yahoomagBillionaire Jean-Claude Gandur has braved war and corruption to build an oil empire on the

Good News Boosts ERHE 9%

2007-09-24T11:37:00.000-04:00

Good news from ERHC Energy brought a quick price boost to ERHE, which rose 9 percent in its wake this morning, giving me a $900 profit on my recent purchases.The best part of the long shareholder letter from CEO Nicolae Luca was the news that the acquisition of Godsonic's interest due its failure to pay its bills will substantially boost ERHC's percentage of profit oil in Block 4, and may also

The Price Is Right - For Me

2007-09-19T10:40:00.000-04:00

As I had predicted several weeks ago - although my time frame was a week off - the share price of ERHE came back down from $0.32 to the $0.24 x $0.25 region, and I snapped up 45,000 shares at $0.245.Right now, oddly, on my ADVN monitor, the Bid is $0.243 but there are no shares being offered; that makes a lot of sense, since the SEC and DOJ investigations are apparently going nowhere and there's

Offor Will Not Divest ERHC Holding, Chrome Says

2007-08-29T11:44:00.000-04:00

Putting a damper on rampant rumor-mongering that suggested Sir Emeka Offor would divest or merge his 42 percent holding in ERHC Energy, the Chrome Group today issued an unusual statement declaring the former ERCH chairman and CEO would maintain and perhaps "enhance" his holdings. The news, however, dampened the share price, and while only 54,950 shares traded before 11:30 a.m. EST this morning,

ERHC Takes Steps To Bolster Independent Board, But Share Price Slips

2007-08-28T14:52:00.000-04:00

A press release about the Aug. 24 Board of Directors meeting in Nigeria said the company's directors acted to bolster inedendent directorship[s on the company's board to gain better comp.liance with SEC regulations, but the company's share price nonetheless slipped from yesterday's 4 p.m. close to the after-hours Bid of $0.285 on about 43 trades totalling 537,502 shares. About 53 percent were

At least part of the SEC case against ERHC Energy is dismissed

2007-08-27T11:27:00.000-04:00

The entire case has been dismissed, and a note from pr whiz Dan Kenney says the issue is not with ERHC Energy at all, but it seems like the one straw at which the Justice Dept. grasped has been blown away much like the Attorney General himself, who resigned this morning.Here is the document, and we'll update you as soon as we can get in touch with the SEC's counsel, Dean Conway. Update - Here is

Time To Eat Crow - ERHE Soars 19% on Anticipation Alone

2007-08-24T15:41:00.000-04:00

Weary investors in a wild stock market got a break today when ERHE - contrary to my very wrong prediction that it would end the week at $0.25 or below - drove the price back up 23% from $0,26 to $0.32 Ask and $0.311 Bid on volume of 831,376, as of this posting at 3:44 p.m. EST Friday. Buying outpaced sales by a margin greater than 3:1. Much of the early action came from a single purchaser who

Offor's Chrome Energy To Issue New Shares On Foreign Exchanges

2007-08-23T15:57:00.001-04:00

In an unexpected but logical move, Sir Emeka Offor's wholly-owned Chrome Group is branching out into ethanol production and offering shares on two exchanges far from the purview of the U.S. Securities Exchange Commission, the official Chinese news agency Xinhua reported yesterday. Nigerian industrial giant lists two subsidiaries on oversea bourses + - 21:34, August 22, 2007 Nigeria's industrial

ERHC Share-Price Gain Probably Will Not Last

2007-08-20T03:03:00.000-04:00

There's probably nothing I can say that will please all ERHC Energy investors - and one of the things I can't say is that the stock is headed straight up from $0.295, where it ended on Friday. Or, I should say, is not headed up for long.Two days after the news that CEO Sir Emeka Offor had resigned his posts - but held onto his stock - and sent it leaping from an $0.215 Bid to $0.295, the company

OFFOR RESIGNS

2007-08-15T18:57:00.000-04:00

Sir Emeka Offor, the tough, savvy, vastly ambitious Nigerian who has headed ERHC Energy since 2001, today resigned as non-executive director and Chairman of the Board of his company, leaving investors at sea as to the company's future and the ongoing dual SEC and FBI investigations of the company with a moving target, the company said. It is not known what will happen now to Offor's 42 percent

ERHE Falls To $0.25; Seller Dumps 250,000 Shares

2007-07-30T15:27:00.000-04:00

A seller dumped 250,000 shares at $0.255 in one fell swoop a minute before 3 p.m. today as ERHE shares fell to their lowest levels in a long time. At 3:27 p.m. EST, the stock was selling at $0.26, with the Bid set at $0.255.The unknown seller was the only substantial seller of the day, with the next-largest blocks - four of 25,000 each - moving between 2:22 and 2:58, suggesting they were part of

New Lies From Chevron?

2007-07-24T04:49:00.000-04:00

A sharp-eyed Investor's Hub contributor has found an extraordinary - and false - claim from Houston-based Chevron on the company's Website that says Chevron acquired an interest in "Block 11" of the Nigeria-Sao Tome Joint Development Zone, located 150 miles off the Nigerian coast in the Gulf of Guinea, in 2004. Problem is, there is no Block 11 - the Joint Development Zone has only 10 blocks, and

Once More Unto the Breach of Trust: ERHC is Subpoenaed by the Senate

2007-07-11T22:33:00.000-04:00

A Senate subcommittee much like one that studied bribes by ExxonMobil, Chevron, Pioneer Natural Resources and Marathon Oil to West African leaders - and then fell strangely silent - is now turning its gaze towards smaller fry, the four employees of tiny Houston-based, Nigerian-owned oil company ERHC Energy, whose stock rose to $0.31 on the news. The company won rights to various blocks in the