Methinks that you don't understand the "non-transferable" clause. You can't transfer your right to buy, however you can always sell the shares you bought.

If history repeats, you probably know that though.

There is ZERO dilution if you participate. Get it?

For those seeking an answer to how ERHC landed their Kenya block, the 10K answers it. Kenya retains a 10% carried interest, with the option of acquiring another 10% at the time production begins. Circle Limited has opted to accept a 5% carried interest in the block for its finders fee.

As it stands, *if* ERHC goes it alone and is successful, it will retain 75% of the block (assuming Kenya decides to acquire its full allotment in the agreement).

Whether this is good or bad can be debated until drilling and beyond, and probably will be (LOL!). The fact remains... that agreement resulted in the award of the block, and that is a net positive for the time being. If seismics excite and oil is found, ERHC management will be regarded as geniuses. If seismics disappoint and they don't find oil, they will be goats.

ERHC Energy has an extremely low entry price to participate in the success of any discoveries. Award these blocks to a major, and a billion barrel discovery moves its stock mere dimes. With small companies like ERHE, that effect will be many dollars.

JMHO.

I agree.

It's the penny stock curse. Perform now or die on the vine trying.

Short-sighted "investors" (traders) kill too many viable companies. Let's hope ERHE doesn't become a statistic.

Google is a POWERFUL tool, and the majority here know how to use it effectively. There isn't excitement because there is a black void of nothingness to talk about, IMO. Searchers can find lovely pictures of desert and such, but nothing to spark a meaningful conversation.

This crowd has been to "drilling" and the excitement that brings, prep work to drill sometime down the road isn't going to excite them.

Nice!

As far as being underwater...

I dreamt about that "water thing" the movie The Abyss was about. I was the crewman breathing the oxygenated liquid as I plummeted towards the bottom off the continental shelf.

Underwater deep, VERY deep.

:-/

Just understand that "exploration" does not mean a bit in the ground. They have lots of homework to do before that test.

With all of the infighting, Sao Tome seems to have forgotten that nobody is advancing their assets in the JDZ.

"Drill or get out" should be the battle on the front burner, not political differences.

Grab the paddles... charging... CLEAR!

That size of onshore discovery, especially if a pipleline is available nearby, would be huge.

Shorter is better.

Well said Baz. I am hopeful *again*, but conditioned by past performance and fully prepared for disappointment.

I really, REALLY, hope that they break that pattern. They are in control now and there are no more "we are not the operator" excuses. It's time for performance or accountability.

"That's all I have to say about that." -- Forrest Gump

Enough with the birds! LOL

Nonsense! Starcrest signed that deal with Addax in October of 2006. ERHC was just 6 months into the investigation by the DOJ, an investigation that cleared them of any wrongdoing just this year. There was NO way that Addax was going to sign a deal with ERHC for another prized block with the DOJ threat over the company. Offer could have gotten FAR more out of signing with ERHC in the form of market cap appreciation, but it was too risky. Offor did the only thing he COULD do to keep OPL291 in his hands. I said then and will say again, I believe that when the time is right, Starcrest and ERHC will be combined, where Offor can reap the market cap benefits of the combined companies.

Just my opinion, of course.

That's true up until a year ago when they started added expertise. An oil company consists of the brains that make decisions and the brawn that execute them. The geoscientists and the petroleum engineers (the brains) do the studies and analyze the data to pinpoint drilling targets. The roughnecks (the brawn) carry out the drilling tasks to poke hole into those targets.

Over the last year ERHC has added some very respectable brains and are about to embark on the studies and analysis of the company's blocks. When targets are identified, they will contract the brawn to execute drilling... *if* they decide to go it alone. If some juicy targets are identified, there will be ample brawn (and additional brains) standing in line to participate. If the analysis does not show promising targets, no amount of crying and foot stomping now will make a difference in getting a partner.

Let's let viewers decide. You say they have no experience...

Leslie Blair

Mr. Leslie Blair has more than 35 years of upstream oil and gas industry experience principally in Asia and West Africa. He is the CEO of Eland Oil & Gas Ltd. From 1998 he was with the Addax Petroleum Corporation where he held several senior management positions including Managing Director, Middle East (based in Dubai), General Manager, Taq Taq Operating Company (based in Kurdistan, Iraq), and Executive Director Business Development (based in Nigeria). Mr. Blair played a big part in building Addax Petroleum into the largest independent oil company in Nigeria with production rising from 8,000 bopd to over 120,000 bopd in ten years. He was also instrumental in Addax Petroleum’s acquisition of interests in the Nigeria-Sao Tome and Principe Joint Development Zone as well as other interests in OPL 291 and the Okwok Field in Nigeria. Addax Petroleum was recently acquired by the Sinopec Group and Mr. Blair resigned his position in January 2010. Prior to joining Addax Petroleum, Mr. Blair was General Manager/Commercial Manager, Hardy Oil and Gas Company in India from 1996 to 1998. Prior to that he was based in Vietnam from 1989 to 1996 initially with Enterprise Oil plc, a major independent oil company based in Ho Chi Minh City, as Finance Manager and latterly as General Manager, British Gas Exploration and Production where he directed the upstream activities and together with a downstream British Gas/BP team produced the first National Gas Master Plan which was subsequently adopted by the Vietnamese Government. Mr. Blair is a fellow of the Chartered Association of Certified Accountants and he has a Master of Arts Degree in Economics and Finance from Aberdeen University, Scotland.

Gertjan van Mechelen, Senior Geoscientist and Exploration Manager

Gertjan van Mechelen is ERHC Energy's Exploration Manager. He oversees exploration activities at the Company’s growing portfolio of onshore and offshore assets in Africa. Van Mechelen has more than 35 years experience in oil and gas exploration. He worked previously in Africa, Southeast Asia, China, Europe and North America with ConocoPhillips and TransAtlantic Petroleum. Van Mechelen is in charge of formulating and implementing the Company's exploration strategies as well as planning, budgeting and executing all aspects of the exploration phases for ERHC’s exploration licenses. His expertise includes interpretation, prospect generation and farm-in evaluation. Van Mechelen earned a Masters Degree in Structural Geology and Exploration Geophysics from Rijks University Utrecht.

Dr. Ken Seymour, Senior Petroleum Engineer

Dr. Ken Seymour is a highly experienced petroleum engineer who has worked in E&P for over 30 years. He has extensive experience in Africa, particularly in Angola and Nigeria. His key competencies include E&P deal creation and asset acquisition, portfolio management, joint venture and asset management, drilling, development and production management and well engineering. Dr. Seymour previously worked with E.ON, Shell, BP, ExxonMobil and CNR International, among other companies. He earned a First Class Honours Degree in Mining Engineering and a PhD in Rock Mechanics at University of Leeds. He also earned an MBA at Aberdeen/Robert Gordon’s University. He is a member of the Society of Petroleum Engineers and the Petroleum Institute. He has authored many technical papers and presentations on African E& P including, “The True Value of Marginal Field Developments,” “Signpost to the Deepwater ~ A Technology Road Map,” and “Scenarios for Deep Water Intervention and Completions,” and “Nigerian Gas – The Entry Challenge.”

Michael Shafie, Senior Geoscientist

Michael Shafie is a Technical Consultant and Senior Geoscientist for ERHC Energy Inc. and its subsidiaries. Mr. Shafie has 29 years of experience in exploration and development of oil and gas fields throughout the shelf and deep water provinces of West Africa, the U.S., Malasia, Vietnam, Egypt, Venezuela and Black Sea. He worked for major, independent and national exploration and production companies such as El Paso, Unocal, Petronas, PDVZA, OXY USA and Vanco Energy, contributing to discovery of significant volumes of oil and gas reserves. Mr. Shafie is experienced in evaluation and acquisition of oil and gas producing properties and expert in offshore lease sales projects. A member of Society of Exploration Geophysicists, Geophysical Society of Houston and Southwest Louisiana Geophysical Society, Mr. Shafie earned Bachelor of Science and Masters of Science degrees from Florida State University.

Peter Kinyua Thuo, PhD., Geologist and Geochemist

Dr. Thuo is a highly qualified exploration geologist and geochemist. His 26 years with the National Oil Corporation of Kenya (NOCK) provides invaluable knowledge and experience for ERHC Energy, particularly on the exploration potential of basins in East and Central Africa. Prior to early retirement from the NOCK in 2011, Dr. Thuo served as Exploration Team Leader, leading the Exploration and Production department. In addition to sitting on the National Fossil Fuels Advisory Committee, which negotiates terms of the Production Sharing Contracts, Dr. Thuo had extensive experience working as a senior geologist and geochemist in the NOCK. Dr. Thuo earned his Postgraduate Diploma in Exploration Geology from the University of London, Masters of Science Degree in Geology from the University of St. Andrews in Scotland and a PhD from the Université de Bretagne Occidentale in France. He has authored many technical papers and presentations on African E&P, especially on the petroleum prospectivity of the Mesozoic and Tertiary Rift Basins of Kenya.

Martin Wensrich, Geoscientist

Martin Wensrich is an experienced geoscientist whose skills and experience are being applied to ERHC's Chad exploration program in particular. With more than 36 years in the industry, Mr. Wensrich has a strong background in applied Geology and Geophysics, and his advanced technical skills include sequence stratigraphy, seismic facies analysis, quantitative fault seal analysis, structural, stratigraphic and velocity modeling, prestack and post stack data processing, AVO and complex seismic attribute analysis. His geographic experience includes North America, Africa and Australasia, both onshore and offshore. Mr. Wensrich is a proven oil finder, credited with more than 150 MMBOE in discoveries and reserve additions. Mr. Wensrich earned a Masters of Science Degree in Geology from San Diego State University and a Bachelor of Science Degree in Geology from the University of California at Santa Cruz.

LOL!

Who said it's the JV partner making the demand? If there is an interested party, ERHC may be telling them they are only willing to give up X percent and will pay their own costs going forward.

ERHC could be the party holding off to see if it can raise the funds.

You just said what *I* said. There is no deal until the ink is dry. If the ink don't flow til the capital is raised, there is nothing to announce and no legal violation.

Why do you have a problem with the word "may"? You are invested solely on the hope that ERHC *MAY* find oil.

Why does that word bother you? You are invested SOLEY on the prospect that the shares will skyrocket "IF" they find oil.

I guess it depends on what your definition of the word "if" is.

Negotiations don't need to be announced. Only inked deals need to be announced. Any potential deal that ERHC has in the que could be contingent on raising funds... any such deals don't exist and can't be announced until the funds are raised.

Get it?

This is fallacy...

Again, I have to say that the possibility exists that some blockbuster news could be contingent on the company raising funds. In that case, they aren't witholding anything because the funds are needed prior to inking the deal.

It would be perfectly legal, proper, and necessary to withhold blockbuster news, such as a partner, if that partner required seeing cash on the books before inking the partnership.

Chicken, meet egg.

Putting the pieces together...

Stock market closed today and possibly tomorrow due to hurricane Sandy.

Be safe east coasters.

LOL! I guess that was fair.

Ntephe indicated "...in a few weeks, but definately by the end of the year" or something close to that.

When he said it, I set my expectations for early January.

Usually.

So much for the theory that posting doesn't affect the share price. You said the constant negativity drove you away. I am sure that you are not alone, but in the minority by posting about it. Selling begets lower prices and you are proof that negative posting begets selling... nuf said.

I note that this is your first post in 3 weeks. If you read the posts over the last 3 weeks, I think you'll find that a lot of the negativity has waned since the shareholder meeting. Perhaps this stock will once again entice you into its hold... err, fold. LOL!

Good luck in your endeavors.

As fields mature their production falls off... reducing their value over time. That graph assumes no additional discoveries, and the timeline for the graph is in decades, not weeks or months.

A more accurate graph would be:

Mid, I don't disagree with you, I just don't like the mis-characterization that ERHC applied for a listing and was denied. They hired an advisor and were told that they had some ducks to get in a row before moving forward. That's fixable. Applying and being denied (which did not happen) would make any subsequent re-application considerably more difficult.

That's a big difference.

Sigh. It's not that Ntephe said it, it's that it fits the facts and makes the most sense. What doesn't make sense is to conclude that they an application that was never filed was denied. That's beyond illogical, its deceitful.

It's obvious, you can't understand normal thinking, the company hired Strand Hanson to advise them on their AIM listing aspirations and their well respected advisors told them they weren't ready... so they did not apply. You clearly declared that the AIM had rejected them, which is false.

Just trying to keep it real, and accurate.

Your conclusion has absolutely zero factual basis.