ERHC Energy Inc (ERHE)

[globaloil]

Another speculative working hypothesis...

While I was re-reading the submitted "NGAR" prospectus draft last night, another possibility came to me regarding the future of ERHC Energy. Just for kicks, I was also reviewing the Exile-Oando RTO from a few years ago which ultimately got the OANDO subsidiary (now called Oando Energy Resources - OER) on the TSX, as most of you know.

Try this on for size: "NGAR" is the CPC vehicle for merging OER and ERHC Energy. "NGAR" goes on the TSXV, acquires ERHC Energy as its "qualifying transaction" for TSXV's CPC requirements, allowing this company to become a Tier 1/2 issuer on the TSXV. The financing for the purchase of the ERHC Energy assets would come from Oando in an effort to merge its TSX company (OER) with "NGAR" in an effort to further expand and diversify its upstream holdings in line with the company's strategy. Once "NGAR" buys out ERHC Energy and merges with OER, ERHE shareholders would walk away with cash. Once under the common umbrella, "NGAR" shareholders would get OER shares in a stock-for-stock merger.

Rationale:

-- Oando wants ERHC Energy's assets/licenses to diversify their holdings

-- "NGAR" director/CEO Tony Henshaw worked a similar deal with Oando plc during the closing years of Exile Resources, where Oando was looking to acquire Exile's assets along with the opportunity for getting on an int'l exchange

-- Oando does not want to have to deal with the SEC and U.S. regulators in a direct merge/buy-out with ERHC Energy. It would be a merger of two Canadian entities.

-- SO's shell company was initially set-up in March 2014 for likely another purpose, but resurrected in its current June 2015 form (involving SO, Tony H., et al) to enable the acquisition of ERHC Energy assets by Oando.

This is all speculation on my part, but not a crazy theory either if one does the DD on all of the players involved and their history.