Some objective thoughts from the Doctor, going into tomorrow.
I am a bit worried. What frustrates me the most is that I cannot get an answer to one question that really matters. And that is: what is and has been the incentive for SEO to not come to the rescue in regards to ERHC. Not with the rights offering and also not now. While we retail investors are still in extreme worry-mode regarding the fact whether or not ERHC will financially make it to shore, Offor already knows for a long time what his plans are with ERHC.
He did help ERHC out with that small portion of $250K earlier this year, I was the one that immediately said that he has more than enough money, by looking at his prior and current charity contributions. Now everybody agrees that Offor for sure is not in financial problems, as some !@#$'s claimed.
But where does this leave us? There must be a plan, a solid reason why Offor is not forking over more cash to take away any uncertainty. I was the one that also said that he could act, and disclose that, as a ‘backstop’. If Offor gave up on ERHC, why the $250K? While spending millions on charity the same time?
One thing we do know for sure: Offor also does not know whether or not Kenya 11A holds oil or not. And if CEPSA is willing to invest at least (!) $30.000.000,- in this block, Offor and his oil company is without any doubt willing not only to invest the relatively small amount to keep ERHC afloat until drilling at least, but even until the glut oil era has past. Why? Of course because of the fact that the profits after finding oil are so enormous for Offor, that not keeping ERHC afloat is no serious or common sense option. It just isn't! And yet, this is exactly the impression we all have for so long now: that ERHC is on it’s own, holding on for dear life...
That just does not make sense. Not in the least because Offor’s company is in this exact line of business. On their own website they talk about taking risks, as being a part of this business. So it does NOT add up.
Take me word for it: Offor is agreeing with this R/S that will happen for sure.
If I use all my few braincells to take a real OBJECTIVE look at ERHC now, I cannot accept that SEO will not act as a backstop, if the sjit would really hit the fan, and ERHC runs out of money. I think they ON PURPOSE do not take any action that could calm any investors mindset. They also act like they will not need retail investors in the near future, to get the share price back up to normal levels. They claim they have not much options. But they NEVER had any criticism or words at all in the direction of CHROME/OFFOR. Never. I have always found that a bit 'fishy'. Here is a company, supposedly holding on for dear life, while the majority owner at the same time is literally swimming in dollar bills. If I were the CEO of the company, I would have OPENLY criticised the majority owner. But Peter did not even mention him in regards to this current financial situation, like we don't even have/never had an investor with almost 50% of the company!
Am I being objective here? I asked around. I am.
'Nice' reminder in this regard: Why did Offor speak out his 'support' for the rights offering, while himself not participating without any valid reason!
Of course Offor knows for a long time whether or not he will keep ERHC alive or not, no matter what happens with ERHC in a financial sense. And I’m also quite sure that Peter knows what Offor’s plans are: Why is Peter's salary not cut? I ask you again: why is Peter's salary not cut. Not by the board, not by the majority owner!
Does it has anything to do with our CEO NEVER criticizing our majority owner in public regarding his real financial support (and I'm not talking about $250K, which he also spends on airconditioning for his houses)!
Listen, seriously: just imagine that block 11A hits commercial oil. Even now in the glut oil year(s), even when we calculate the smallest possible amount of commercial oil: tell me what the share price would be with 3Billion shares out. What would the market cap be if commercial oil is found, and how much would that equate to if Offor had only 13% of the shares?
Give me a $ figure, and tell me if this is not what Chrome is after? And then I’m not even talking about the $ value of the undiscovered Chad and the EEZ blocks after glut oil…
Give me an absolute $ minimum for Offor at 13%
The Doc.
I have a objective feeling we are led by the $ick.
AI
