ERHC Energy Inc (ERHE)

[Krombacher]

NO.

The talent, experience, and resources are not there NOW for drilling...but an investor that merges with a company MAY have that. Look at the CEO lined up in NGAR, as an example. An oil guy.

They are giving something up when they take on a partner. They are giving up an asset...IN EXCHANGE...for the partner to do the work and be an operator.

They have given something up for partners without getting ANYTHING in exchange too...take for example the Kenyan govt, which also owns a stake in the block. And Circle comes to mind though...although I guess they got the block found in exchange.

The rest of your conclusion in your bolded statements also assumes things..it assumes that a diluted block plus 750 million shares does not equal an undiluted block + 3 billion shares or more. How do you know?

It also assumes that a merger with an operator wouldn't result in a much higher share price or experience or any number of things, including cash in the bank...NOT zero cash as you have in your bolding.

"Real" dilution, particularly an investment and/or merger is GOOD. So is a farm-in.

Simple right?