Awards Could Come Next Week, Dimka Says; ERHE Holds On Through A Shake To Gain 4.6% And Rise 2.5 Cents In EH Close

Orangeandwhite0, the Raging Bull poster formerly known as markvo10 whose credibility was questioned and then confirmed by last week's JDA press release, today posted great news of another update from Sam Dimka, whose credibility was also questioned but whose information has now proven good, that awards could come next Thursday or Friday if, as he expects, ExxonMobil responds today to a request from the Nigeria-Sao Tome Joint Development Authority to exercise their preferential rights in the second licensing round.

Meanwhile, the anticipated shake from yesterday's S-8 news has materialized, but the sustained fall to $0.479 did not - so far; the day's low now stands at $0.49. At 10:30am EST, 728,010 shares traded and the ask was at $0.51 and the bid at $0.515, an $0.025 (4.83 percent) drop that is less earth-shattering than expected. At 10:35am EST, the bid moved to $$0.515 and trades started happening at $0.52, so the worst may be over.

Update, 11:06am EST The share price has recovered to $0.53, the last trade price in extended hours yesterday. The bid is at $0.525, and volume is a healthy 919,510.

Update, 3:12pm EST Some late buying including a 50K block have helped bump the bid to $0.525 after it languished before noon at $0.51, and the last sale (3:15pm) was at the new ask, $0.53, where several hundred thousand shares have moved in the past three or four minutes. Volume has risen to nearly 1,823,871 shares.

Update, 7:52pm EST ERHE investors have apparently weighed the dilution of 73 million new shares versus the attraction of a debt-free company poised for the award of some $28 billion worth of oil, and found in favor of the oil.

About three minutes after our 3:12pm update, buying suddenly exploded, driving the hard-to-move share price up $0.025 by the close of extended hours trading, and left short-sellers gasping at a 4.63 percent rise and a price of $0.565 on the last trade, recorded at 4:01:25pm EST. The bid moved up to $0.56, and the volume for the day was 2,191,594.

Here is the Raging Bull orangeandwhite0post from 9am EST this morning:

******UPDATE********

GREAT NEWS!

Just got off the phone with Sam Dimka. I asked him if XOM has repsonded back to the JDA yet. He said it is VERY likely that XOM will respond tomorrow. This is consistent with what Sam told me weeks ago that XOM would only take ONE week. He said that XOM could wait until next week to respond but he really expects them to respond TOMORROW. Sam went on to say that if XOM does respond tomorrow that the "JMC CERTAINLY WILL MEET NEXT THURSDAY OR FRIDAY." This date is consistent with what SwingK said earlier this week!!!!! IT's ALL COMING TOGETHER FOLKS!!!!!!!!!!!!!