ERHC Energy Inc (ERHE)

[Julius Erving]

SSC, a new round of convertibles is unlikely imo.

They better could dispose of their OANDO share. Dan said about that: "I can’t speculate about what ERHC may be considering regarding the future of any particular holding, but I can say that the Board and management continuously consider the strategic importance of its various assets and they take action (or don’t) based on those evaluations."

And is this also true(?):

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108620494

?

"Obviously, if we are able to secure a farm-in partner, that would change the situation dramatically for ERHC, but we must forge ahead in order to satisfy the PSC requirements."


And:

"The company’s management believes the consequences of failing to satisfy the terms of its PSCs in Kenya and Chad poses the greatest risk to the Company, so it will do everything it can to proceed with exploration activities, which requires raising funds. I will repeat again: All funding options are being pursued, including private equity, private placements and, as you noted, convertible debt. Convertible notes happen to be the source of funds available NOW, which coincides with when the funds are needed. There is a glut of supply for oil and prices are at their lowest level in this decade, so capital markets for oil projects are constrained. That said, ERHC is not solely pursuing funding from convertible notes."