ERHC Energy Inc (ERHE)

[tryoty]

My plan is to match any dilution. Anyone thinking they need to triple their position to keep up is dillusional. These shares will be authorized. They haven't been floated. For many, many years ERHC has had authorized shares of 950M. They have floated roughly 40M shares over SIX years for BOD compensation and stock option grants. That isn't significant. So for six years they have had access to 200M-250M shares and they haven't tapped them significantly.

They aren't going to dump 2B+ shares on the market. There is no chance of that. What I see them doing is presenting their assets and exploration plans to IB's for funding in bits and pieces. As an example, let's say they place 50M shares in their initial placement, that's a dilution of 6%. I need to increase my holding by 6%, so to keep up I need to add 30K shares. That's not a problem. And if history has shown us anything it is that things in the oil patch move slowwww. How often will they do placements? Probably not at breakneck speeds. So all I have to do is match the dilution of that transaction.

Since I have no concerns that they will go big at this level, as they haven't for the 7 years I have been around, I have no concerns about this increase in authorized shares. This upcoming meeting has more to do with tomorrow than it does with today.

JMHO.