agm

After a days reflection on what i found to be a terrific meeting, I thought I would give my 5c worth. Firstly, it was a pleasure to meet ciggys among other posters, aswell as see kojasper in full flight offering up question after question giving the meeting extra spice and showing the directors that there are investors who do their homework and who are keen to know in detail the in's and out's of the company. I am not so much the analyst nor is my research as meticulous as it could be, but my purpose was to meet the directors and get a feel as to who was managing this company and make 'first meeting' judgement on the blokes that have my money in there hands. I don't believe that i am easily impressed, nor did I feel as though i needed to be, but i did walk away from the meeting feeling confident in Phil and also John, who both seemed very excited for the future prospects of ERH. I guess my goal was to try and sum the board up - discern character and motive etc and all those other things that most people think unimportant. Without rubbishing on too much, my feel for the meeting and what the directors had to say is this - ERH is about to head into a very exciting chapter within the next 6 months with terrific potential for success - things in Brazil do take 'time', and patience is essential - the ANP approvals should not be any problem (except time delayed) and hopefully granted soon - the directors still find it hard to believe that they were fortunate enough to secure block 430 , it's geographically positioned smack bang in between the carmopolis field and the huge off shore oil basin) and appears geologically very promising - I also felt that management appeared geniunely committed to 'investors' interests and believe that reward will come from doing things efficiently and methodically. Finally, I gathered that management appear to believe that things will come together nicely at the right time which will hopefully be soon. Personally I couldn't care less about the short term share price fluctuations, for me you are either an investor ( who bides his time and isn't in desperate need of news yesterday!) or a trader ( who makes a quick buck on the back of good news). As an investor I really got alot out of the meeting, and do hold anticipated excitment for this company and see vast potential over the coming months and years. Regards RD
PS sorry that was at least 7c worth.