ERHC Energy Inc (ERHE)

[midtieroil]

Raising 10 million at .035 per share would mean the issuance of over 285 million shares. Some people think that a mere announcement of drilling would significantly raise the share price. I have my doubts on that. Some think that giving some sort of resource estimates would raise the share price significantly also. I have my doubts about that too. ERHC many never give out such estimates. CEPSA has no incentive to publish such estimates and ERHC must get permission from CEPSA and then must pay for a third party to do the estimate. Who knows if either will happen or when.

Also, some think that once the seismic is done there is nothing else to do. That is not accurate. The analysis of the seismic after it has been shot and processed takes longest of all. It could be months before ERHC says anything. I wouldn't be counting on any real news before the New Year. As we know with this stock, anxious shareholders setting unrealistic time frames for getting things done has NEVER panned out well.