ERHC Energy Inc (ERHE)

[emdyal]

Only saying but with all the PhDs connected with ERHC management is it really expedient and necessary, considering the costs involved, to throw even more cash down the sewer by hiring Deloitte , to figure out a way for the company to put austerity and other measures in place to ensure survival of the company until and beyond drilling ??? It should be obvious but again Ntephe has got to act like the big important academic CEO ! For the sake of mercy just make the cuts and do what needs to be done as opposed to continuing to burn a $ million every 3 months!

Cost cutting is obligatory whether a partner is found for Chad or not and certainly preferable to more toxic financing and or selling off a percentage of Kenya in particular ! I say Kenya because Chad is a given to get a partner and anything deep sea in the current environment is highly unlikely ! I did suggest ages ago that ERHC should have given 80 % of the EEZ blocks in return for getting exploration done ! But Ntephe was looking for the big bucks and ended up with $55 oil prices and 100% of nothing !

It appears as if Ntephe is going to continue playing CEO and siphoning as much cash as he can when there essentially are only two things to do do as indicated above ! Kenya involves waiting for CEPSA to drill hopefully in the next year which costs nothing which leaves Chad ! So can the burning through of $77 000 every week be even remotely justified for manning the phones and making contacts?

Cuts should have been put in place long ago and before they even considered the toxic financing and the resulting sub penny share price !