ERHC Energy Inc (ERHE)

[midtieroil]

Actually no where close to "most companies" have folded. Most companies prospered greatly over the last decade especially during the long time period when oil was trading over $100. You did get the bleeding money part right. ERHC is going on 6 years without drilling a single well. That will cause you to bleed money. If you don't drill a single well for 6 years you can't find oil. In that time period ERHC spent 10'S of millions of dollars while doing almost no exploration work. What was that money spent on? ERHC got almost all of their Kenya expenses reimbursed as well and they spent all that too.

And about people doing business with ERHC. Not many companies are dealing with ERHC. Many wouldn't touch this company with a ten foot pole and that is why, despite having good properties, they are having a very difficult time finding partners. SNP wasn't the best partner and neither is CEPSA. Neither is exploration-oriented. How technically proficient are these companies? They certainly are NOT at the forefront of oil and gas exploration. And if Mercom does become a partner, who has ever heard of them either?

Yes people continue to trade the stock. So what? It's at .002. People would trade pig slop if they thought they could make a dime on it.