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re: Official Erin Energy (ERN) thread

Posted on 11/17/15 at 8:27 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 11/17/15 at 8:27 pm to
I sold 5 dollar puts for 91 cents. It's not going to be that bad. I'm waiting to see if the put buyer wants to put the shares to me. Last minute cat and mouse thing. Not sure what I'll do yet, but I'm guessing the buyer doesn't have the money to put the shares to me, and I can buy to close for a smallish loss.

Paid a nickel for the calls, so that's not a huge loss either.

Or I might let the buyer put the shares to me for a net share price of 4.01.

Don't know yet, but you're right, it didn't work out the best.
Posted by RebelOP
Misty Mountain Top
Member since Jun 2013
12478 posts
Posted on 11/17/15 at 9:29 pm to
How quickly are you getting filled on these orders?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 11/18/15 at 5:45 am to
They're not filling, but this might change on expiration which is this Friday. Again, if it doesn't change it's not a huge loss, my nickel calls expire worthless, and I get shares put to me for $5 minus .91, or $4.01.

I traded around earnings. It didn't work out, but I'm not going to get slaughtered either.

LINK
This post was edited on 11/18/15 at 7:40 am
Posted by RebelOP
Misty Mountain Top
Member since Jun 2013
12478 posts
Posted on 11/18/15 at 8:57 am to
But on average how long does it take for orders to go through? The market isn't very tight and the volume/open interest is small so I'm just curious if you're waiting hours before anything get's filled.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 11/18/15 at 9:20 am to
There has been no volume recently. None. The last trades were likely mine. I'd guess a majority of trades on expiration will be mine as well. But someone bought what I sold, and someone sold what I bought, so a good chance people are unwilling to exercise, and will either buy/sell to close before they have shares called, shares put, or have to buy shares to either have called away, or put to someone.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 11/21/15 at 9:11 am to
Someone exercised and put shares to me for $5. My net cost basis after deducting premium I was paid is $4.09, so I got out of this naked short o.k.

I had also sold $7.50 puts for over $3.50, and these shares weren't put to me, so I kept someone's premium. Someone didn't have money to buy the shares to put to me, or it made no sense after they factored in their commission.

Either way, I got extremely lucky.



Posted by LSU9102
West of the Mississippi
Member since Mar 2007
2476 posts
Posted on 12/11/15 at 11:15 am to
No post on here since November 21st.

CEO/Chairman Lawal Kase Lukman is all in!!

He's acquired 90,700 shares for ERN since the last post.
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 12/11/15 at 11:56 am to
ERN hit $2.95 earlier today, down from $8.96 only six months ago.

This stock might one day be considered the most notorious pump-and-dump thread in the history of the Money Talk Board.
Posted by thatguy777
br
Member since Feb 2007
2386 posts
Posted on 12/11/15 at 12:38 pm to
They are producing oil and gas. Hurting like every other O&G company out there. They are more in the beginning stages so this definitely doesn't bode well for them.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 12/11/15 at 3:39 pm to
quote:

ERN hit $2.95 earlier today, down from $8.96 only six months ago.

This stock might one day be considered the most notorious pump-and-dump thread in the history of the Money Talk Board.


A Nigerian energy company....can't believe this happened.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 12/12/15 at 7:04 am to
Laffy. Everyone knew the risks going in, and it's not over yet. How does this fit the definition of pump and dump? Unless I dumped, which I haven't. Frankly, I told everyone when I took my original investment out, so it's not like it's a secret. I've made money on it. I can't help it if others haven't. IIRC, I believe a couple of other gys on here either sold all of their ERN, or parts of it as well. At a gain. B1G stra tege ery.
Posted by Rantavious
Bossier ''get down'' City
Member since Jan 2007
2079 posts
Posted on 12/12/15 at 8:02 pm to
Well. I guess this thread has run its course.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 12/12/15 at 10:56 pm to
quote:

Laffy


Gay.
Posted by whodatigahbait
Uptown
Member since Oct 2007
1752 posts
Posted on 12/13/15 at 11:43 am to
quote:

quote:
Laffy


Gay.


^this times 1000
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 12/15/15 at 6:15 pm to
I bought some more, and sold half of it for a small gain. Who knows when and if premium to brent recovers, but people are scared, and that to me seem to be the time to buy carefully and slowly, on the way down.

Yesterday is when I bought, and then sold half at close. I couldn't make myself keep all of it, and wanted to take some off the table at a small gain.

Gay and all that.

Edit. The corrupt Nigerian just bought more as well.
This post was edited on 12/15/15 at 6:16 pm
Posted by whodatigahbait
Uptown
Member since Oct 2007
1752 posts
Posted on 1/14/16 at 9:11 am to
quote:

I bought some more, and sold half of it for a small gain. Who knows when and if premium to brent recovers, but people are scared, and that to me seem to be the time to buy carefully and slowly, on the way down.

Yesterday is when I bought, and then sold half at close. I couldn't make myself keep all of it, and wanted to take some off the table at a small gain.

Gay and all that.

Edit. The corrupt Nigerian just bought more as well.


Where did you see he bought more?

I don't see a form 4 filed with the SEC in quite some time.

ERN about to break $2.

As you would say. Laffy Taffy.

This thing is still a fraud.

Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 1/14/16 at 9:47 am to
I think he was given some yesterday. But there have been numerous Form 4's in the last several months. It could very possibly be a fraud. Possible in my estimation, not likely.. In any event, I attempt to base my decisions on facts and research, given your comments above about lack of Form 4's, I'm not clear how you come to your conclusions.

1/4 and 1/12 2016. Two Form 4's.

4 Form 4's in December.

I didn't take the time to check if all of these were Kase's, but I think if you do, you'll find he is both purchasing, and being granted a lot of stock relative to the current ownership structure of this company.

Huge surprise here. You don't like me, or Erin Energy. I for one would appreciate any insight into other investment options rather than a continual beat down of an oil stock that is shockingly being beat down in this commodity climate. Shockingly. Much like Bama and Stanford destroyed the B1G. Have fun ripping me. I'll check back in about 3 months which is about as often as I check this site.
Posted by whodatigahbait
Uptown
Member since Oct 2007
1752 posts
Posted on 1/14/16 at 10:03 am to
quote:

1/4 and 1/12 2016. Two Form 4's.

4 Form 4's in December.


I stand corrected about the Form 4s. For some reason they were not showing up on on the EDGAR due to my settings.

Kase is buying but probably just to try to prop up the huge amount of stock he owns through CAMAC. If I owned 133 million shares i'd have no problem buying 31K to show good faith. Smart business decisions.

My problems with this stock have not changed regardless of commodity prices, no real research coverage no real institutional ownership. Why is some guy in Iowa the only person REALLY following this stock if it's such a great opportunity?

quote:

Huge surprise here. You don't like me, or Erin Energy. I for one would appreciate any insight into other investment options rather than a continual beat down of an oil stock that is shockingly being beat down in this commodity climate. Shockingly. Much like Bama and Stanford destroyed the B1G. Have fun ripping me. I'll check back in about 3 months which is about as often as I check this site.


No I don't like you, personally I don't care for liars. Must be a southern thing.

This post was edited on 1/14/16 at 10:06 am
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10230 posts
Posted on 1/14/16 at 1:52 pm to
I politely pointed out some items about some Form 4's. You call me a liar, with no basis at all. I would challenge you to find a lie posted my myself here. Excepting that I indicated I wouldn't check back on here for a while, and I actually did, so I guess that could be considered a lie. But factual, material lies, there are none. Wells Fargo High Net Worth Clients Division is an analysts on this stock, although not by a formal definition, given the client base they serve. They are actually how I learned about at that time CAMAC.

ERN could go broke tomorrow. I doubt it, but they could. But for one guy on here to call this a pump and dump, possibly hinting at my enthusiasm being the pump, and for you to call me a liar is a bit far out there. I obviously am encouraged by this speculative holding, of which a small percentage of my broad based asset class portfolio consists of, but I am also on the telephone with their management and investor relations people frequently, and have done enough due diligence to be comfortable holding this. As a part of my percentage of assets that is speculative. Spelled out ad infinitum in this and other threads. Almost always prefaced as speculative. And I have liberally made comments about Kase, his past reputation, his donor status with Obama and Clinton, and my intention to hopefully be out of this by the time we get a Republican Attorney General.

So I guess I'm a liar. But I'm not posting from my employer's computer, or stealing the time he paying me for since I am the employer. I suspect several of you are doing exactly this. But I won't call you thieves as I don't know for certain. But go ahead and call me a liar.

You sir should just state you think I'm an a-hole. I could live with that. Not call names that question character. I believe since you brought up the Southern this, this is what a Southern Gentleman would do.
Posted by AutoYes_Clown
Baton Rouge, LA
Member since Oct 2012
5176 posts
Posted on 2/8/16 at 9:36 am to
Going on another dive?
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