ERHC Energy Inc (ERHE)

[midtieroil]

Where is ERHC going to come up with 15 million by June to retain their interest in Chad? They've accomplished almost nothing there during the current exploration period. No seismic. No wells. Why would Chad give them an extension?

Where is ERHC going to come up with 9 million to pay CEPSA. No way anybody is moving forward in Block 11A until past debts are paid. On April 15th it will be a year since Tarach was spud. There is zero indication that CEPSA is moving forward at all let alone with ERHC in tow.

Where is ERHC going to come up with 2.7 million to pay the IRS and have the Tax lien on their assets removed?

That leaves the JDZ and the EEZ. Both are deepwater exploration plays which are out of favor with these low oil prices. ERHC has no partners in either place and even if they did drilling would be years away.

Where is ERHC going to get cash or financing to buy producing properties with or without Starcrest. In this oil market they won't. They have zero experience in operating and buying producing properties and Eland is way too smart to get involved in that mess. ERHCs purchase of a single marginal well in Jackson County, TX seems like a bad joke to me.

Bottom line is that the shareholder update was another farce. Nothing new. None of the above issues was addressed Just more rhetoric to keep traders and die hard shareholders on board and to keep their salaries flowing.

By the way, when will the terms of the long expired directors be renewed? All terms expired years ago and none have been renewed. Is this company breaking the law, or just in violation of their own bylaws? Is anything these jokers do binding since they have not been legally elected? I wonder.