ERHC Energy Inc (ERHE)

[nordicroots]

I hear you when you said

"But there is now a chance ERHC won't be around that long."

And I suspect that one could have said that very same thing BEFORE they started with the convertible debentures as well. While I am not a real fan of the current means chosen for recapitalizing the company in this fashion, I think everyone would agree that it comes at a huge cost to current shareholders. But with that said, I would also venture to say that at least they are doing SOMETHING that might allow the company to hang in there long enough to make it to drilling.

Yes, there are a lot of hurdles to overcome between now and then and we have heard many of them articulated on this board already (and probably even more that we have not thought of or at least written about yet on this board). As I suggested in my original post responding to Doc, as we've seen in many other companies in this situation, IF they survive there is no guarantee that the shareholders get to participate in the ride back up (to break even or better) IF someone swoops in from the sidelines and buys the whole thing up lock stock and barrel. And the bummer for long term shareholders is that there would be no upside participation at that point. So yes there are a lot of risks here.