ERHC Energy Inc (ERHE): Final "white board" thoughts. First and...

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Re: nh post# 120854

Sunday, 03/23/2008 8:24:04 AM

Sunday, March 23, 2008 8:24:04 AM

Final "white board" thoughts. First and foremost, a fantastic job done by this board in putting the "white board" information into a readable format (see NH'es post I am replying to). While it is very possible the picture taken was a staged event....I am a firm believer that the information on the whiteboard is very legit business that was at least (and probably still is) the next leg up for ERHC Energy Incorporated.

Personally, I would have preferred to see ERHC's Board of Directors sitting around the table instead of Peter N., Co secretary and Sylvan, accountant and James Ledbetter, Tech VP. If this is a staged event....which it could be.....perhaps the BOD WAS sitting at the table during the actual presentation.

Meat: Notice the % sign on the left upper portion (see picture in post I am replying to). This percentage sign is directly along the line leading from Addax to the circled ERHC. I blew this portion up on a word perfect document and was very clearly able to see that this same line between Addax and ERHC underscores the word Addax and does not extend up to Sinopec in any fashion. Keep this thought in mind.

If the timeframe is correct....based on the graph with red lines (middle right) and the 71 represents the cost per barrel of oil....then Sept or October 07 is the month the white board was presented (i.e. this is when oil was $71).

What events occured just prior to this? How about SEO stepping down as COB in mid August and the courts dismissing SEO's attorney from the subpeona a few weeks later (8-27-08). Something critical happened for both of those events to take place IMHO. That said, the white board presentation that we're seeing likely occured shortly after those two significant events.

Ok...back to the meat. With the very distinct line underscoring Addax and going into the ERHC circle with a % sign right next to the line.....it would sure follow that the white board presentation is stating that Addax is going to take a percentage of ERHC. I'm not sold that the line leading up to ERHC with the $ sign next to it is Brenner. Could it be the bank Addax is using for purchasing this percentage of ERHC??? (more DD I hope the board can work together on).

Next step in the chart/white board:

Take notice of the long straight line coming out of the ERHC circle going down down down to the box that is labled "buy public %". Others thought this box might read "buy minority %". While I cannot be certain.....it would seem the white board is indicating the rest of ERHC will be scooped up at this point..........unless...........unless..........one wants to put their remaining ERHC interests into the new entity. Please notice the very small circle on the upper right hand side of the "buy public %/ buy minority %" box which is tied in with the lower left hand corner of the "option to invest" box via the same small circle.

Ok...timelines. Drilling is very likely to begin 4'th Q 08 as Addax has been putting out in their presentations/PR's. The custom supplies have been ordered (January 08) serves as a very big clue that they have a drillship but have decided to hold off announcing same for the time being. So....if a new entity is the end game here.....it will be formed and trading prior to drilling IMHO. That said, "ERHC will not be ERHC" prior to drilling. Seems some notable posters made this same distinction on several occasions in the past :o)

Back to timelines. Recall what the co did shortly after ERHC settled their suits: SEO stepped down as COB, SEO's attorney has subpeona dismissed....SEO announced he's working on "enhancing" his ERHC holdings.....ERHC prompted a move that only occured once before (since SEO's control).....they scheduled a shareholder meeting. Same meeting was scheduled some 6 months in advance and one has to be most curious as to why it was scheduled 1) So far in advance 2) After the market is closed and 3) What #3 agenda could deliver. Back in August they indicated they were going to hire on 3 additional BOD's when the sh'er meeting came about....but SURPRISE.....the same 3 current BOD's are put up for another term. What changed???? How about COMPANY PLANS.

Important to recall these two posts....as the 1 to 1.5 months stated timeframe ended in the middle of this very month:

http://investorshub.advfn.com/boards/read_msg.asp?message_id=26373027

http://investorshub.advfn.com/boards/read_msg.asp?message_id=26393932

For ERHC to purchase additional properties....hire quality top co officers....bring in additional BODs.....the co would have had to have thoughts they "might" take this thing forward. I strongly doubt this was ever the real Co intention...outside of maybe WB (thanks BSK)....but "just in case" they PR'ed what they had to PR to get er dun if they changed route from a flip to becoming a real oil co. By all market indicators....the flip is on and the white board chart is giving us all a pretty clear picture of the co plans.

Those who think ERHC is going to wait for drilling......cannot believe a word the white board is presenting to us as surely a new co would be formed and trading BEFORE drilling.....not after. A "new entity co" would surely want to ride the wave/feel the impact of actual drilling and feel the market action as each well delivers news investors wants to hear when owning a growth oil company.

I would still like to learn what the circled name under ERHC is. I would also like to AGAIN thank the ERHC investor that brought the white board to my attention and for his desire to share it with this stock board. I see the information presented on this board as VERY VERY important to shareholders and might prove out to be our end game. By all market indicators and co actions/inactions......it is very likely to play out as the white board clearly shows IMHO.

Procon: The 2 is a #2.....not $2 IMHO.

Again, great discussion ERHE board!!!!! My belief that we are holding a winner here has been enlarged and boldened this weekend.

Happy Easter to all.......and while one egg wont't be found on Easter day.....worry not.....as it is filled with a liquid that gains value as it ages.