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re: Official Erin Energy (ERN) thread

Posted on 2/8/16 at 2:29 pm to
Posted by Mac
Forked Island, USA
Member since Nov 2007
14656 posts
Posted on 2/8/16 at 2:29 pm to
quote:

You call me a liar, with no basis at all. I would challenge you to find a lie posted my myself here.
Had no idea Money Talk threads got so lit. I need to check in on this board more often.

Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 2/11/16 at 8:54 am to
Amended 10A means South African public pension fund understated just how much money they've made.
Posted by TigerDeBaiter
Member since Dec 2010
10258 posts
Posted on 2/11/16 at 9:00 am to
quote:

A Nigerian energy company....can't believe this happened.


I haven't followed this stock on the MB and thought this was a joke until i looked at their assets. Too good.
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 2/11/16 at 9:09 am to
I believe that if you "invested"/gambled on this stock from first mentioned you would have made money


I got in on the pump up to $8 and made off like a bandit before it fell. Bought the fiancee's engagement ring with the profits. She enjoyed the big rock
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12575 posts
Posted on 2/15/16 at 8:28 am to
nice way to spend that cash I did the same with my wife's back in 2014. Got dat 2 carat.
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 2/15/16 at 9:01 am to
quote:

Got dat 2 carat.


So did I
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 2/15/16 at 10:10 am to
Sears has a 2ct diamond engagement ring for $3,099.00. Go big, or stay single and keep your money.
Posted by jturn17
Member since Jan 2011
4978 posts
Posted on 2/15/16 at 10:26 am to
quote:

Sears has a 2ct diamond engagement ring for $3,099.00
I can only imagine the lack of quality in such a ring.

cut, clarity, color > carat
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 2/15/16 at 10:33 am to
I was just curious how much bank Gene made off of ERN. Knowing nothing about diamonds and rings, I searched for a reasonable range. I saw Sears. Didn't know Sears sold diamonds. Out of boredom I checked out Sears stock, and the open interest on puts, then I price checked their selection of diamonds. I think we could safely assume between $3,099 and $10K based on his engagement ring purchase.

He's probably not the guy giving me all the down votes.

Posted by TigerDeBaiter
Member since Dec 2010
10258 posts
Posted on 2/15/16 at 10:43 am to
A $3,000 2 carat diamond may as well be a pebble.

Any decent 2 carat diamond is going to start at or above $15k. There's a premium to be paid at intervals such as 1.0, 1.5, and 2.0

Trust me, I've paid this premium.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 2/15/16 at 10:47 am to
OK, I guess Gene made more than $10K on ERN. Again, I know nothing about diamonds.
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12575 posts
Posted on 2/15/16 at 11:00 am to
that would be a lump of coal
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 3/14/16 at 10:45 am to
Buh Bye Kase. Kinda.
Posted by Omada
Member since Jun 2015
695 posts
Posted on 3/14/16 at 12:39 pm to
I saw that. What is your take on this, IG?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 3/14/16 at 12:54 pm to
No reaction by the market. Based on the lack of reaction, better he step into the background and let an oil expert run the company.

I'll be on the call later on this afternoon, I'd assume there would be questions. I'd also assume they can hedge over $40 right now, so they should be o.k. for a while. Probably plunged all revenue into additional explorations, so they'll show a loss.
Posted by Omada
Member since Jun 2015
695 posts
Posted on 3/14/16 at 2:08 pm to
Hofmeister and Omidele do sound (more) capable for the jobs. I'll have to listen to the recording of the call once I'm off work. If there is anything significant in the call not mentioned in the ER, could you post it please?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 3/14/16 at 3:29 pm to
The call is tomorrow. My mistake.
Posted by bayoubengals88
LA
Member since Sep 2007
18895 posts
Posted on 3/14/16 at 8:20 pm to
So, what's the outlook? New CEO?
I fooled around with CAK in the .60-70s range.
ERN is now trading mid .30s pre split. Anyone loading up for another round?
Posted by Omada
Member since Jun 2015
695 posts
Posted on 3/16/16 at 12:06 pm to
IG, how did the call go?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 3/16/16 at 4:08 pm to
Give me a couple of days and remind me. I had two calls down there already, but don't have everything I need.

I do know they hedged their oil at $46-$47. It's premium to Brent in any event, but good work here.The last piece I have put put into place is when full production begins again, which is supposedly next month, but more importantly for how long were they operating at basically 50%. Also, I wanted further clarification on when debt payments are due. Due in large part to Kase.

My initial reaction is they're going to stay around a while. It's touch and go, but unless there is something significant, I'm thinking they can last at these prices until 2017. Maybe beyond.
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