ERHC Energy Inc (ERHE)

[tryoty]

Given that the CEO & CFO have gone from owning less than 1 million shares for most of the last decade to over 40M shares now, the truth has to be 1 of four possibilities... listed IMO most likely to least likely.

1.) They are using funds from the company to buy shares in an attempt to trick the market into buying their convertible debt screw-up.

2.) A deal in the EEZ is imminent and this "cash crisis" is a tempest in a teacup... blue skies ahead.

3.) The seismic in Kenya is incredibly compelling and they feel the reward is worth the risk, for the first time ever... that would take some amazing seismic! Even the JDZ didn't get these guys buying.

4.) After many years of silence, the Chinese are going to move forward in the JDZ. I may have listed this 4th to avoid the barrage of bashing by the accumulators... but IMO there has been far, *far* too little information about the drilling results. Maybe that's about to change?

So are they buying out of desperation or confidence? I don't know. But I do know this, I have never seen anyone buy anything out of desperation before.