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Started By
Message
re: Official Erin Energy (ERN) thread
Posted on 6/8/15 at 2:51 pm to Iowa Golfer
Posted on 6/8/15 at 2:51 pm to Iowa Golfer
Power Hour is quite strong today.
up 15% so far
up 15% so far
1
Posted on 6/8/15 at 2:52 pm to Chuck3000
Panic Sell Offs on bullish stocks always provide nice entries, IMO.
Posted on 6/8/15 at 3:01 pm to Chuck3000
Sometimes I laffy. Sometimes I yell. I always take other people's fear seriously though. I don't always win, but I usually do. I should become a fee based financial planner. They'd probably kick me out of their industry though. They don't much care for guys that tell the truth, and do what's in the customer's best interest.
I know that's a generalization. Before all the extra special investment bankers on here crucify me.
Laffy.
I know that's a generalization. Before all the extra special investment bankers on here crucify me.
Laffy.
Posted on 6/8/15 at 3:04 pm to Iowa Golfer
I added more at 5.84. Should've added MOAR.
Posted on 6/8/15 at 3:20 pm to Jwodie
Someone from ERN must have jumped in after hours to prop the price back up to $7.20.
I traded all day. Bought calls, sold puts, and bought ERN. I was work. They was fear. I had some myself until about 10AM. Then a calm determination to make money. Still risky, but an acceptable risk to me. I just kept imagining JP Morgan was on the other side of every trade I tried to make. When that got boring, I just imagined some Democrat on the other end of the trade.
I can't predict the future, and I can't tell anyone else when to buy or sell. What I can state factually is that there was a counterparty to every trade made today. That's is not debatable. Someone was buying what others were selling.
I traded all day. Bought calls, sold puts, and bought ERN. I was work. They was fear. I had some myself until about 10AM. Then a calm determination to make money. Still risky, but an acceptable risk to me. I just kept imagining JP Morgan was on the other side of every trade I tried to make. When that got boring, I just imagined some Democrat on the other end of the trade.
I can't predict the future, and I can't tell anyone else when to buy or sell. What I can state factually is that there was a counterparty to every trade made today. That's is not debatable. Someone was buying what others were selling.
Posted on 6/8/15 at 3:25 pm to Iowa Golfer
Could it have been shorts covering?
Posted on 6/8/15 at 3:28 pm to Chuck3000
May 5/15/2015 5/19/2015 5/27/2015
5/29/2015 6/02/2015 6/09/2015
Short interest announcement dates. Settlement, due and dissemination in that order. You're not going to know ever, but at least might have an idea late June at the earliest.
5/29/2015 6/02/2015 6/09/2015
Short interest announcement dates. Settlement, due and dissemination in that order. You're not going to know ever, but at least might have an idea late June at the earliest.
Posted on 6/8/15 at 3:40 pm to Iowa Golfer
Bought back in @ $6.23
I'll take a quick 4% to close the day
I'll take a quick 4% to close the day
Posted on 6/8/15 at 3:50 pm to dcrews
LINK
Kase must have tried to buy some at $7.20 after hours. Looks like it got reversed. Busted trade. Now I'm speculating, like the article and the failed attorney, but it's laffy speculation, and no one will be scared. He/they are persistent. You gotta like em. Seldom do Nigerian warlords ever cooperate with my agenda.
Kase must have tried to buy some at $7.20 after hours. Looks like it got reversed. Busted trade. Now I'm speculating, like the article and the failed attorney, but it's laffy speculation, and no one will be scared. He/they are persistent. You gotta like em. Seldom do Nigerian warlords ever cooperate with my agenda.
Posted on 6/9/15 at 6:38 am to Iowa Golfer
Round 2:
Investigation of Erin Energy Corporation Announced by The Law Offices of Howard G. Smith
LINK
Investigation of Erin Energy Corporation Announced by The Law Offices of Howard G. Smith
LINK
Posted on 6/9/15 at 6:56 am to jlu03
Oh My Golly! The sky is falling! The fundamentals have changed.
Should I do a lump sum, or dollar cost average? Is my time well spent trying to save 10% on my auto and homeowner's insurance? Which Vanguard fund is best?
What can I invest in, have someone else do all of the research on, make a Kazillion dollars, and have no risk on? So I can spend my day at work saving 15% in 15 minutes.
It's a risky stock. Run by a guy with a colorful history. Things like this are going to happen.
Should I do a lump sum, or dollar cost average? Is my time well spent trying to save 10% on my auto and homeowner's insurance? Which Vanguard fund is best?
What can I invest in, have someone else do all of the research on, make a Kazillion dollars, and have no risk on? So I can spend my day at work saving 15% in 15 minutes.
It's a risky stock. Run by a guy with a colorful history. Things like this are going to happen.
This post was edited on 6/9/15 at 7:00 am
Posted on 6/9/15 at 7:01 am to jlu03
quote:
Investigation of Erin Energy Corporation Announced by The Law Offices of Howard G. Smith
quote:
This investigation is for anyone who acquired securities in Erin Energy Corp. (NYSE: ERN) prior to June 4, 2015.
The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that that the Company engaged in multiple related party transactions with the intent of defrauding minority shareholders out of their investment.
On June 4, 2015, a report published in SeekingAlpha described the Company's related party transactions. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Erin Energy Corp. (NYSE: ERN) prior to June 4, 2015 you may join the lawsuit by submitting your information online or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Posted on 6/9/15 at 7:13 am to Iowa Golfer
ERN provides operational update:
Erin Energy Provides Operational Update
8:00 am ET June 9, 2015 (BusinessWire) Print
Erin Energy Corporation ("Erin Energy" or the "Company") (NYSE MKT: ERN) today provided an update of its current operations.
Kase Lawal, Chairman and Chief Executive Officer commented: "With the success of the Oyo-8 well and impending tie-in of the Oyo-7 well, we are very pleased with our current operations in Nigeria and the progression of our work program across our entire asset portfolio. The operational team's advancement of the work program in Ghana is remarkable and we are excited that Ghana is looking to be a very near-term source of significant value for our Company. We continue to advance both the exploration and development programs on our assets; we are building on our success and are well positioned to continue growth in 2015."
Nigeria
The Company is continuing the completion operations on the Oyo-7 well, and production from the well is expected to commence by mid-June.
The Oyo-8 well's performance has been exceptional, and the well is now producing at a stabilized rate of more than 7,200 barrels of oil per day. Further, the Company has begun discussions on rig availability for its planned drilling campaign, consisting of Erin Energy's first exploration well in the Miocene formation later this year, the Oyo-9 development well in 1H 2016, and a water injection well to further enhance production from the Oyo field. At the core of its near-term offshore exploration program in Nigeria, Erin Energy has four drill-ready exploration prospects, with combined recoverable P50 resources of approximately three billion barrels of oil equivalent (83% oil).
Ghana
The Company has completed the static and dynamic modelling of the three previously discovered oil fields in its Expanded Shallow Water Tano block, which has resulted in sizeable oil and gas in-place volumes. Erin Energy continues to work with an independent reservoir engineering firm and is creating development scenarios for the block and running preliminary economics on the volumes. Based on these initial results, the Company expects to declare commerciality no later than September 2015.
The Gambia
Erin Energy recently met with the government of The Gambia to review the Company's work plan, which includes a 3D seismic acquisition this year in blocks A2 and A5 and the drilling of an exploration well in early 2018. Permits have been granted, and the Company expects to commence the 3D seismic acquisition in early July 2015.
In light of recent offshore Senegal oil discoveries, which are on-trend with the Company's A2 block, Erin Energy continues to receive interest from potential partners and is in advanced discussions with potential farminees.
Kenya
The Company has completed preliminary interpretation of the seismic data acquired on blocks L1b and L16 and has identified several promising leads. Based on the results of the data interpretation, Erin Energy has met with the government of Kenya and has requested approval to move into the first exploration extension period on both blocks.
Erin Energy Corporation is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio consists of 9 licenses across 4 countries covering an area of 43,000 square kilometers (10 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and Gambia, and onshore Kenya. Erin Energy is headquartered in Houston, Texas, and is listed on the New York and Johannesburg Stock Exchanges under the ticker symbol ERN. More information about Erin Energy can be found at www.erinenergy.com.
Erin Energy Provides Operational Update
8:00 am ET June 9, 2015 (BusinessWire) Print
Erin Energy Corporation ("Erin Energy" or the "Company") (NYSE MKT: ERN) today provided an update of its current operations.
Kase Lawal, Chairman and Chief Executive Officer commented: "With the success of the Oyo-8 well and impending tie-in of the Oyo-7 well, we are very pleased with our current operations in Nigeria and the progression of our work program across our entire asset portfolio. The operational team's advancement of the work program in Ghana is remarkable and we are excited that Ghana is looking to be a very near-term source of significant value for our Company. We continue to advance both the exploration and development programs on our assets; we are building on our success and are well positioned to continue growth in 2015."
Nigeria
The Company is continuing the completion operations on the Oyo-7 well, and production from the well is expected to commence by mid-June.
The Oyo-8 well's performance has been exceptional, and the well is now producing at a stabilized rate of more than 7,200 barrels of oil per day. Further, the Company has begun discussions on rig availability for its planned drilling campaign, consisting of Erin Energy's first exploration well in the Miocene formation later this year, the Oyo-9 development well in 1H 2016, and a water injection well to further enhance production from the Oyo field. At the core of its near-term offshore exploration program in Nigeria, Erin Energy has four drill-ready exploration prospects, with combined recoverable P50 resources of approximately three billion barrels of oil equivalent (83% oil).
Ghana
The Company has completed the static and dynamic modelling of the three previously discovered oil fields in its Expanded Shallow Water Tano block, which has resulted in sizeable oil and gas in-place volumes. Erin Energy continues to work with an independent reservoir engineering firm and is creating development scenarios for the block and running preliminary economics on the volumes. Based on these initial results, the Company expects to declare commerciality no later than September 2015.
The Gambia
Erin Energy recently met with the government of The Gambia to review the Company's work plan, which includes a 3D seismic acquisition this year in blocks A2 and A5 and the drilling of an exploration well in early 2018. Permits have been granted, and the Company expects to commence the 3D seismic acquisition in early July 2015.
In light of recent offshore Senegal oil discoveries, which are on-trend with the Company's A2 block, Erin Energy continues to receive interest from potential partners and is in advanced discussions with potential farminees.
Kenya
The Company has completed preliminary interpretation of the seismic data acquired on blocks L1b and L16 and has identified several promising leads. Based on the results of the data interpretation, Erin Energy has met with the government of Kenya and has requested approval to move into the first exploration extension period on both blocks.
Erin Energy Corporation is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio consists of 9 licenses across 4 countries covering an area of 43,000 square kilometers (10 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and Gambia, and onshore Kenya. Erin Energy is headquartered in Houston, Texas, and is listed on the New York and Johannesburg Stock Exchanges under the ticker symbol ERN. More information about Erin Energy can be found at www.erinenergy.com.
Posted on 6/9/15 at 7:25 am to jlu03
My opinion is that they should have waited to release their response until after Oyo 7 was producing. Again, these jokers have now set an expectation, mid June, for good news which apparently given the nature of drilling in the sea is very prone to delays.
I get it. Their reaction and response has to be limited. What could they possibly say? They have to take the threats seriously I guess.
I get it. Their reaction and response has to be limited. What could they possibly say? They have to take the threats seriously I guess.
Posted on 6/9/15 at 7:27 am to Iowa Golfer
On a laffy note: "violated federal law." No crap, they are Clinton and Obama donors and supporters.
Now that is some serious laffy.
Now that is some serious laffy.
Posted on 6/9/15 at 7:36 am to Iowa Golfer
I have no idea what will happen from here and how the shareholders will view all this info. I'm sitting on the sidelines.
Posted on 6/9/15 at 7:55 am to jlu03
Sidelines here.
Posted on 6/9/15 at 7:59 am to b-rab2
Put me in coach, I'm ready to play.
Posted on 6/9/15 at 8:09 am to b-rab2
Going to wait to see what happens, but I might buy back in. The second lawyer is just proof to me that these guys are throwing darts at a wall attempting to receive a settlement because that's cheaper than ERN fighting the accusations.
Posted on 6/9/15 at 8:37 am to jturn17
quote:
Going to wait to see what happens, but I might buy back in.
This for me as well. I'd like to buy back in before any Oyo7 news, but I'm going to wait it out and see what happens for today at least. If it dips enough, I'll pull the trigger.
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