ERHC Energy Inc (ERHE)

[johnnieisrotten]

I don't understand all the fuss over oil prices and their correlation to the cost of drilling. It seems to me that now is the time to lease offshore/onshore drilling rigs as their daily costs go down and availability goes up. After all the company will not see any return on these wells until years after they drill at which time oil prices should be back up. I realize that profits are down right now but any company that was planning on any drilling activity any time soon should have had that money in the budget any way. As far as farm ins/outs it seems to me that oil prices right now are a moot point for the same reasons and after all ERHC is probably looking for a carry on the EEZ/Chad and some cash. Again all this is based on something that we are not going to see coming out of the ground for years. How can you put a value on something that we have no idea what the price per barrel will be so far down the road. If history holds true oil is going to go back up. This is all IMO and I'm probably wrong in my thinking but I just had to put it out there so take it for what its worth, maybe too much coffee too early in the morning.