If your worst case scenario has already happened, your being here is the personification of insane.

Sift through the "opinion" and boil it down to provable facts. Good luck.

The market reacts to events, it does not predict the future. The current share price is irrelevant.

Like you, I also am waiting, and I am waiting eagerly, not for all of the negative predictions that never come true, after all 99% of the worst case scenarios never happen... no, I am waiting for the potential surprise many see coming.

Could I be wrong? Of course. I admit that, however you and emmy foolishly don't. You proclaim that ERHC's past will repeat, even though past performance NEVER accurately predicts future results.

So we wait. I could be wrong, I admit that. You could be wrong, and you don't admit it.

We have all placed our bets and the wheel is spinning, where the ball lands is anyone's GUESS, it is their OPINION.

"The only game in town right now for ERHC is Kenya. Many years of no partner in Chad and the EEZ. And no activity in the JDZ."

Holster the negativity gun for a minute and consider what would happen if a partner in Kenya, Chad, and the EEZ were announced in over a short period of time, and simultaneously JDZ phase 2 was announced.

That's why you are here, IMO. The potential is staggering.

IMO, the AIM listing was always contingent on the JDZ being a success, even if that wasn't communicated to shareholders.

The JDZ disappointed and the AIM listing got put on hold.

There have been 12 press releases since January 1st of this year...

http://erhc.com/news/

That's an average of 2 per month. I'm not sure what some people want... for them to just sit around and spend their days writing news releases??? LOL!

How do you reconcile the contradiction of your own statements?

"Yeah it would be terrible if ERHC were on a better exchange, if they didn't have over 750,000,000 shares outstanding and 3 billion authorized and if at least some institutions could invest in this stock."

"The reason ERHC can't get on a better exchange has NOTHING to do with the share count"

The verifiable "fact" that they DO have that many shares out and CAN'T get on a higher exchange with their current share structure strongly suggests that it is by design. For whatever reason they do not want to lower the share count to qualify for a higher exchange right now.

Why is anyone's guess, but they are doing what they are doing as part of a plan.

You're right, middy. You didn't suggest it, you stated it as fact.

"What isn't a weak argument is the fact that shorts made a fortune on ERHC stock riding it down from 90 cents to 5 cents."

In most people's mind, a "fortune" is over a million, so to make a "fortune" riding it down from 90 cents, as you stated as fact, someone would have to pony up a "fortune" to short at 90 cents just as drilling 5 wells had begun. My point was there isn't a fool with a million to play with that would have done that. Conclusion? No short made a fortune "riding this down from 90 cents"... far from it. At best a shorter or two rolled the dice with a $10K bet and covered when they doubled at 45 cents.

Their $10K win hardly meets the definition of "a fortune".

IMO there isn't an investor on this planet with more than 5 seconds of oil stock experience that would short a minnow that was drilling its first wells. The maximum reward if the drilling fails is a 100% return, but the risk if drilling succeeds could be a loss of 5X-10X the original short position, maybe more. Are you really suggesting that there is someone that risked over a million bucks (a fortune) and kept that short position open, risking a potential loss of $10M or more, only to cover at the exact low of 5 cents?

ROTFL!

The vast majority of investors in the U.S. define "a fortune" as something north of a million dollars... far north of it, actually.

"the fact that shorts made a fortune on ERHC stock riding it down from 90 cents to 5 cents"

So that is somehow a FACT? Can it be proven? Are you suggesting that there is someone out there that shorted OVER A MILLION DOLLARS on a PENNY stock at it's ALL TIME HIGH and then HELD that SHORT position all the way to the EXACT share price low?

Do you even listen to yourself? The entire scenario, all of which is your opinion and not fact, is comical.

"5 duds caused by allowing a technically deficient partner to drill all 5 wells in JDZ"

Sinopec signed as ERHC's JDZ partner early in 2006. If you truly felt they were technically deficient, you had SEVEN years to save yourself from their technical deficiency. You didn't.

You need to stop blaming ERHC management for you not selling. That's your fault and yours alone.

"HDY was near bankruptcy and in two years RL raised hundreds of millions of dollars (at what cost), got the 2D and 3D seismic work done, got one JV partner (ERHC scored 3, but Anadarko chose to back out), got on the NYSE, brought in institutional ownership (all of whom regret their decision), fully developed their prospects, got one well drilled, took the stock from 22 cents to 7 dollars. Then they drilled a non-commercial well."

ERHC did most of the above... they scored full carries so they wouldn't need to raised capital at shareholders expense, they scored 3 partners but ended up with 2, they avoided institutional investors because if the results weren't good, which they weren't, the taint would not haunt the company, and they accomplished 5 wells, all using Sinopec's money... so which company is smarter.

That's a no-brainer.

That's $28 per barrel...

10% of 553M barrels = 53.3M barrels for $1.52B... it must be a developed field.

Five years. FIVE YEARS!

Your theme has been the same...

LOL!

NW Kenya has some data, not zero as has been claimed...

http://www.epgeology.com/articles/kenya-rift-basin.html

Good lord, that machine is a BEAST. I built the computer I am on right now 4 years ago. It has an Intel i7 8 core processor overclocked to 3.8GHz, 12GB of RAM, and a 128BG OCZ Agility 3 solid state drive, and a two 300GB raptor HD's... it screams... from power off to booted and usable in 13 seconds.

Now look at the specs on Pangea...

"a system with 110,592 cores and 442TB of main memory"

I have 8 cores and 12 gigabytes of memory, Total has 110,592 cores and 442 TERABYTES.

I'm glad I don't have to pay their electric bill. LOL!

http://www.theregister.co.uk/2013/03/25/sgi_total_pangea_ice_x_supercomputer/

I don't take the goat photo as "funny", your farm-in comment... absolutely hilarious! However, in many African countries goats are very valuable... they provide sustenance, whether it be from meat or milk.

I suspect that the goat was a gift to ERHC, a *very* strong sign of a good relationship. If it was the other way around and the goat was a gift from ERHC to the Kenyan's, then my hat is off to the foresight of this management team... they gave an inexpensive gift (in our country) that was received as a bag of diamonds would be here.

In either case... the goat was excellent politics, whichever direction it was heading.

"I’ve never seen a basin of this magnitude"

“There was a giant under-explored hole on the map,” Africa Oil Chief Executive Officer Keith Hill said in an interview in Nairobi. “Now the world has woken up to East Africa. I’ve never seen a basin of this magnitude.”

http://www.bloomberg.com/news/2013-03-15/cradle-of-mankind-offers-kenyans-three-centuries-of-oil-energy.html

This article is a couple years old, but it was new to me and I thought it might be for others as well...

http://www.epmag.com/Production-Drilling/Survival-The-Fittest_78370

BBQ?

There it is again...

"The gross best estimate of prospective resources for the prospect are 231 million barrels of oil based on a third-party Competent Person's Report".

The very heart of a CPR done on an oil company is the reserves estimate. Dan Keeney openly and knowingly lied to ERHC shareholders when he publicly denied the a reserves report was done during ERHC's AIM listing effort. That CPR contained, and to this day still contains, vital information that should have been disclosed to shareholders.

Someone needs to be held accountable for withholding that critical information from us. Whether it was Keeney's call or Ntephe's is irrelevant, someone broke the law and should be accountable. I don't care if the damn report came back showing zero reserves. If it did show zero reserves, how many have lost how much hanging on to this stock because that info was withheld? If it actually showed a discovery and bookable reserves, how many lost how much because they sold and moved on because that information was withheld?

Someone screwed up, and they screwed up bad.

The logical conclusion to the question of why they didn't is that they didn't need to... thus partner a lock.

You will see it when it hits you in the head and you have an "ahhh" moment. At that point you will be wondering why you never saw it coming.

I agree. I think ERHC's partner is "in the bag". I also believe that partner will be Sinopec, and it is all part of a much bigger plan.

JMHO, and *all* MHO, nothing more.

Let's not be misleading...

"The government’s vision of transforming the country into a regional trade hub, driven by oil discoveries both in the Joint Development Zone and Exclusive Economic Zone"

The governments vision of transformation is driven by the vision of oil production some day.

No wells have been drilled in the EEZ, and oil has been discovered only in block 1 of the JDZ. How much oil still remains to be seen as everyone keeps stalling and jockeying for position.

I think you are wrong. Decades? IMO, there will be seismic shot within 2 years and drilling within 5, worst case.

Amen. As we age what "did" takes on more importance.

SEO isn't a young man, and that aligns him with most of us.

JMHO.

I get the feeling that it won't matter who the JV partner is. If history serves as a guide, tomatoes will fly no matter who they choose.

Middy, you may/might be right...

But to be honest, if message boards existed many dozens of years ago, we would have seen people posting the exact same things that you do about ERHC now, against companies that now dominate the industry.

One never knows.

It was never changed in the first place. ERHE has been quoted as ERHE all day today, and it will be tomorrow. The change was cancelled.

Why it was even made an issue once the filing came out yesterday is a mystery.

How can you not be sure with the "facts" in front of you?

Apparently the SEC thought they missed their filing date, and maybe they did, but the filing has been submitted and the "E" didn't and won't happen.

It's a non-issue.

Thanks Arnim...

"The gross best estimate of prospective resources for the prospect are 231 million barrels of oil based on a third-party Competent Person's Report"

Huh? A CPR contains resource estimates? Who would have ever thought that? Dan?

What personal attack? I merely made the observation that an all-out attack campaign on ERHC's communication strategy occurred during the period that you claim to have sold and bought back some 50% lower.

Can you point to the change in ERHC's communication strategy and any positive post on your part applauding it that caused you to buy back?

My comment was hardly a personal attack. It was an observation of behavior/actions, nothing more.

I'm leaning towards hearing about a partnership agreement sooner rather than later. Why? Because ERHC's LOI announcement was as much a signal to the potential partner that they intend to reach an agreement as it was to us. They must be very close on terms or ERHC would not have revealed their hand. Doing so, if they weren't close on terms, would have weakened their negotiating position.

I expect to hear something in a week or two.

Interesting news. I think that, far more than us little retail investors, ERHC understands the importance of this LOI materializing into an agreement.

I look forward to the outcome.

Something that I found interesting in Keeney's statement:

"Let me say this again: ERHC will raise the funds needed."

Dan Keeney is rarely definitive in his statements. He seems to have made that one with absolute certainty. I don't pretend to know what is going on within ERHC's walls, but I do know and accept that we are not privy to it... yet.

Time will tell Strass. I too wish you well in your journey. Good luck.