JDZ Nigeria-Sao Tome e Principe

[balance_builder]

"ERHC also is working to
diversify its holdings and build
upon its assets in the Gulf of
Guinea through a carefully
executed acquisition strategy
aimed at viable revenue producing
properties."




"Our strategy is to form or acquire a subsidiary of ERHC Energy Inc. that does not involve any of the Gulf of Guinea assets that we have been discussing. The company would initially be owned by ERHC Energy Inc. directly or through its wholly owned Cayman holding company. That subsidiary will be listed on the Alternative Investments Market of the London Stock Exchange."



"The idea is to achieve more by accessing the additional pool of capital through the AIM. We will be creating a separate asset pool for the company without in any way diluting current shareholders.

ERHC Energy Inc. will retain a large percentage of the U.K.-listed company. There would be a common management team that would be managing both, which can create synergies.



No, I'm not bringing the above CEO lines up to re-point out that a total flip flop was done regarding dilution. Rather, I want to point out that it is apparent that ERHC has a partner it intends to ride with. Note that Peter N. states the new subsidiary (AIM listed) will "initially" be owned by ERHC.

Note further that CEO P. Ntephe indicates in a later line that ERHC will retain a "large percentage" of the UK listed company.

A partner IS going to be brought in with ERHC based on ERHC's comments. Not right away.....but soon after the acquisition IMHO. How?

Well, we know David Bovell stated the acquisition or "series of acquisitions" will likely be funded partly or fully with the issuance of new shares. The investor (I think investment bank, ugb or MFC?) will now own a healthy percentage of ERHC. I believe this is why our sp is as low as it is....so any deal looks sweet and any post acquisition{s} buy-in at a low balled figure will be met with success. Yep, sacrifice "the ERHC family" to bring in a big money partner. (I am noting that selling in a tender offer [buy-in] rests solely with each individual investor). But, when your sp is beat down and kept well below its true value, the suitor is likely to have better results with his tender offer.

Said suitor will sell a percentage of his ERHC ownership to a capable oil company. This "capable oil company" will become operator of the new assets that ERHC and the investment bank are about to purchase. ERHC will own NON-OPERATING MINORITY INTERESTS of new assets (yes, it was ERHC that told us this during the 8/08 CC).

And where will ERHC go from this point?

"And, after a great deal of careful consideration of capital market alternatives, we will be working to position ERHC Energy Inc. to move from the OTC to another exchange in the next 12 to 18 months. While we are still considering whether the NASDAQ or AMEX would be a better fit, we believe that we can achieve enhanced exposure and liquidity, while at the same time providing investors with greater transparency in terms of pricing and execution. We feel the move to a different exchange will be an important step toward future growth of ERHC Energy."


Why UGB or MFC? Because our past CEO runs an energy fund that has stated it wants to invest in W. African upstream assets and we are about to present in Dubai....home to MFC.

Why else? Please recall that Walter Brandhuber quit as ERHC's CEO on July 24, 2006. Note the date of the following post (months AFTER WB quit working for ERHC) and you decide if it sounds like Walter Brandhuber is still very much involved with ERHC??????


"Posted by: Electick Date: Monday, September 18, 2006 10:51:06 PM
In reply to: tryoty who wrote msg# 73677 Post # of 142457

Tryoty you are reaching a bit. If Walter was buying shares it wouldnt be in the open market, he is interested in building a company (which as you note he has the cajones to get done). Walter does love the assets that is true, what he did not appreciate is being controlled by the board/offor. It is very difficult to be "authorized" to run the show and then be constrained as to even the most basic decisions such as picking your own management team. Our future will hopefully involve a substantial buy-in/out so that Sir O can get out of the management business and the market can appropriately compensate the company for the true value of these very impressive assets. Only my opinions, save the speculation and hold the slings and arrows please"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=13401203



Again, you be the judge. Does it sound to you like ERHC has decided to build a company? It sure does to me.