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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: kawagama who wrote (9958)	6/5/2005 4:16:32 AM
From: Crossy	Respond to of 37387

Sorry, no interst in ERHE with me. Too much Risk. Marketcap is $400m and they are not producing anything.. rgrds CROSSY

To: kawagama who wrote (9958)	6/5/2005 2:24:06 PM
From: LTBH	Respond to of 37387

Kawa I own a lot, and I do not believe I have seen an early stage company with as much upside while having quite a few very positive factors already known. 1) operatorship with our partners in the best/highest prob blocks 2 and 4 2) TOTAL of ~21% of all acreage in blocks 2-6 3) 2 100% rights and 2 15% rights in the still to be awarded EEZ 4) Per Partner Nobels recent AGM CC block 4 has many prospects with 6 ranging from 30M -320M BO with a 75% probably and of course just north of our block are several elephants. (Probability % like that is very comforting when in deep water and personally I find it hard to call wildcatting which I do when your numbers are in a 1:10 range) 5) Seismic data from blocks 2-6 have been interpreted as having 14.4 B barrels in place 6) Exxon-Chevon placed the highest ever signature bonus bid per acre of 123M U$ for block 1 7) Exxon, Chevron, Pioneer, Nobel, Devon, SINOPEC, The Indian State oil company and IIRC Iran state oil company all competing and throwing big dollars at these blocks tell me I have some smart folks in the business that also believe profit outweighs risk here IMO. awards have significantly reduced the risk here as does one of our partners work commitment of 3 wells in 12 months. Of course there is risk here ... when has oil exploration been risk free and this is deep waters to boot but our partners also are all flush with cash and deep water experience. Biggest short term problem I see is the flippers, traders and momo types will be spoilers for next few months to a year on the outside (or first oil, whichever comes first)... but eventually they always jump to greener pastures and as a long term guy I will be patient and hold for the roses at the end of the game. It is also quite possible that our new partners will chose ERHE as the local content required for the current Nigeria EEZ blocks currently on bid ... your investment could turn out to be far greater the you have hoped. All the above are the thoughts of a guy who owns shares, knows nuthin and has a foggy memory ... stick with your investment style, do your DD, follow the advice of your financial advisor and CPA. Luck LTBH PS The high number OS I see as a risk but would be very surprised if a reverse spilt of maybe up to 1:10 and a major exchange listing are not in the near future.