Huge Fall Unnerves Investors
Huge Fall Unnerves Investors
ERHC Energy (OTC BB symbol: ERHE) unnerved investors today with an 18.38 percent fall to $0.55 ask x $0.550 bid. The fall was mirrored in the oil sector, where multinational oil giant ExxonMobil fell $1.99 and ChevronTexaco fell $1.37.
ERHE fell as investors lost faith in the Joint Development Authority's promises to produce a decision on awards shortly after a Joint Ministerial Council meeting on April 22. Today, in a post to reliable source oiljunior, the spokesman for the Nigeria-Sao Tome and Principe Joint Development Aithority, Sam Dimka, backed away from his hard and fast promises of an April 22 meeting to offer "April 18-26" instead, along with a hint that the awards may go beyond April into May. He said the meeting might last "4-5 days", and if so, and the meeting began on April 26, the earliest day for awards would be May 2.
Needless to day, this latest flurry of ambivalence took its toll. At 3:20pm EST, the price stands at $0.525, down $0.155 or 22.79. percent for the day.
ERHC On The Move has not sold any of its shares, absorbing a $19,916 loss so far today.
ERHC Energy (OTC BB symbol: ERHE) unnerved investors today with an 18.38 percent fall to $0.55 ask x $0.550 bid. The fall was mirrored in the oil sector, where multinational oil giant ExxonMobil fell $1.99 and ChevronTexaco fell $1.37.
ERHE fell as investors lost faith in the Joint Development Authority's promises to produce a decision on awards shortly after a Joint Ministerial Council meeting on April 22. Today, in a post to reliable source oiljunior, the spokesman for the Nigeria-Sao Tome and Principe Joint Development Aithority, Sam Dimka, backed away from his hard and fast promises of an April 22 meeting to offer "April 18-26" instead, along with a hint that the awards may go beyond April into May. He said the meeting might last "4-5 days", and if so, and the meeting began on April 26, the earliest day for awards would be May 2.
Needless to day, this latest flurry of ambivalence took its toll. At 3:20pm EST, the price stands at $0.525, down $0.155 or 22.79. percent for the day.
ERHC On The Move has not sold any of its shares, absorbing a $19,916 loss so far today.
posted by ...Joe Shea at 12:13 PM
0 Comments:
Post a Comment
<< Home