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ERH - Eromanga Hydrocarbons

Discussion in 'Stocks 0-H' started by Purd2, Nov 25, 2007.

  1. Purd2

    Purd2

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    www.erohydro.com

    Worth a look at. Searching for oil in Brazil ....low risk already explored areas now made profitable through oil price hikes. Also Uranium ....Olympic Dam type in the same geological structure in SA. Management looks A1. I would like some feedback.
    I would post more but have to run.
    Phil Galloway - (20 years experience in mining and energy projects as an engineer, investment banker and company executive. He has held senior roles at BHP Billiton, CS First Boston, RioTinto and Esso Australia. )

    See http://www.aie.org.au/melb/geothermal.htm

    open the PDF file on the bottom left of the page. Smart cookie or what!!!!
    Cheers Purdy
     
  2. tigerboi

    tigerboi

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    Been up a 100% today & looks to still be under the radar of the average punter.they look to have a few promising projects...tb:D
     
  3. Wysiwyg

    Wysiwyg Everyone wants money

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    They say the fluorescence is yellowish which suggests 25 to 35 API.Of course there are other deciding factors such as permeability and porosity that will determine commerciality but a show over 149 m gross is encouraging say what.
    Looks like there is still interest in it tigerboi.

    News story ... here if interested.
     

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  4. tigerboi

    tigerboi

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    can i get that in english!;)if its trucks,rugby league,brumby resources & other io miners then no probs...all i know is they said oil shows kapow 100%,surprised me though as not a peep on here about it...tb:D
     
  5. Who Dares Wins

    Who Dares Wins

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    This ones off today - up at 53 cents last I looked and seems to be still slowly creeping further. Surprised no one had already posted about it. Maybe to busy trading it.
     
  6. Broadside

    Broadside

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    if you're not a short termer, ERHO is the go...you get your regular option (strike 10c, expiry mid 2009) plus a piggyback option strike 20c expiry 3 years from date of issue. Therefore intrinsic value of ERHO is 2 x ERH price less 30 cents.


    eg if ERH is 50c then ERHO i.value = 70c

    if ERH 70c ERHO value $1.10 etc

    see last quarterly shows piggy back options and exercise price etc
     
  7. jtb

    jtb

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    I'm gagging badly on not scooping these up circa 8c week before last:(
    Was all over this and yes the options were certainly the attraction- the single research report (which looked decidedly budget-and very P10 oriented)- sparse info' in addition to the sell down (right up to the announcement) kept me out unfortunately.

    Always good news for a junior to have a win though.

    Well done.
     
  8. YOUNG_TRADER

    YOUNG_TRADER

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    wow 16c to a high of 70c in under 2 weeks :eek:

    Thats insane, must have been a very large wildcat that they were drilling

    Anyone lucky enough to be riding this mini Cudeco?

    p.s. I didn't get the option pricing till now thanks Broadside :)
     
  9. Wysiwyg

    Wysiwyg Everyone wants money

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    Plain english my friend is a multiple increase in ERH share price.I sold at 26.5 c and now am doing this :banghead: more regularly.I really need some help with my exits as i`m not in the ball park most of the time.

    ouch
     
  10. Spineli

    Spineli

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    The Brazilian Oilfields.....particularly around the Sergipe Alagoas Basin (ERH has JV with Gavea) and the Reconcavo Basin (ERH has JV with Silver Marlin) are full of black gold.......are absolutely going gangbusters.......this is the biggest oil find in decades...Petrobas is going to make a killing IMO (holds significant permits) although there are quite a few other players involved.

    Wysiwyg...mine are in the bottom drawer :)
     
  11. Broadside

    Broadside

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    100m oil column is pretty enticing young trader given the market cap but now we need to see how it flows...the options have great leverage but that cuts both ways of course if we get disappointing news. I am holding I think the odds are good. But I have small stake money riding on this which makes a difference to whether you chase it now.
     
  12. Purd2

    Purd2

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  13. mapna

    mapna

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    Any idea why the SP went south after the weekly update report? I do not quite understand what the report said but it sounded like no more drilling, plan for some testing to do ???? not sure if they have oil or not????

    Can anyone explain pls?

    Thanks.
     
  14. Wysiwyg

    Wysiwyg Everyone wants money

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    Hows it going Mapna, from the report it tells us they are going to flow test the well to see what amount of oil flows in barrels per day (bbl/d).This procedure, as stated, means another rig will be positioned over the well to perform this procedure.The well bore will need to be fracture stimulated to get the oil flowing.

    Hope this helps but do some research if you want to know what the speak is.
     
  15. Spineli

    Spineli

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    Check out the Top 3 shareholders and the Top 20 for ERH

    This has got to be one of the most tightly held registries I have come across in a long while. The stock's performance helps me understand.
     

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  16. Spineli

    Spineli

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    Shares into trading halt today pending a capital raising.

    Gavea JV (ERH 40%)
    Progress: Drill Block 430 Loc 1 completed in May08 with 143m of oil shows, flow testing of Loc 1 to begin soon - funds used to secure workover rig at Loc 1

    Siler Marlin JV (ERH 50%)

    Capital Structure: (see slide 23 of investor presentation [link below]):
    2 June 2008
    http://www.erohydro.com/ERH_Investor_Presentation_2_June_2008_Final.pps

    Implied MC = $117m = < 1mm bbl of oil
     
  17. mapna

    mapna

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    Is it good or bad announcement???? can you give us some of your comments to save us on R&D pls.

    Thanks.
     
  18. juddy

    juddy

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    from another forum:

    apparently for $5m at 47c. Current sp 53c.

    we'll see how accurate they are.
     
  19. Spineli

    Spineli

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    Placement of 15m ERH shares @ 0.47/share ~ $7.05m

    Extract
    Eromanga Hydrocarbons NL (ASX Code: ERH) announces the successful completion of a $7.05 million capital raising through the placement of 15.0 million ordinary shares at 47 cents per share. The funds will be used to partly fund an exploration and drilling program covering onshore producing basins in Brazil.............Eromanga Hydrocarbons CEO Mr Philip Galloway said “the Company was encouraged by the level of demand for the placement, which was significantly oversubscribed. This highlights the potential of Eromanga’s projects in Brazil.

    Current Activities:

    Gavea JV (ERH 40%)

    Progress: Drill Block 430 Loc 1 completed in May08 with 143m of oil shows, flow testing of Loc 1 to begin soon - funds used to secure workover rig at Loc 1
     
  20. snake100

    snake100

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    I'm very excited about this stock. It's only a matter of time before we here a few good announcements. (1.Quantity of oil) Hopefully there will be a substantial amount of oil with a good flow. If this happens the share price should go rocket as most will know, however if smart will hold until production kicks in..For a company that shows 40M in asx, i think that is extremely under estimated.

    ERH has an excellent management team, as you can tell from previous announcements. They communicate as soon as news becomes news.

    Did anyone read the Saturday Advertiser Business section? talks about cost of tenements (licenses) and there worth. Phil - what a move he made few years back. Brazil is the place to be!

    The thing to remember is that B430 is not the only opportunity and WIP there is so much out there for them. Won't be long before someone comes along and notices Phil's achievement :eek:
     
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