ERHC Energy Inc (ERHE)

[midtieroil]

Many times reverse splits are done in conjunction with a positive event such as getting on a better exchange or at least staying on a good exchange. ERHC has none of that. The only thing ERHC shareholders are getting from this is 100x fewer shares and the probability of even more dilution.

At this point we need to get confirmation of the drilling date from CEPSA. Many companies are delaying or even cancelling planned drilling and we have yet to here from CEPSA about a firm drilling date. I don't believe ERHC's date based on past experience. They will tell us what we want to hear and hide everything else.

We also need to know how needed cash for drilling and admin will be raised. How much cash remains? How much debt remains? How many shares will be issued to pay off debt. How much new debt will be issued? How much was received for the EEZ block? Why is ERHC still hiding that amount from us?

Until the majority of these questions are clearly answered, I don't believe this stock is going anywhere. The shareholder meeting and the 10K due before the end December may shed some light or ERHC may continue to hide everything they can. I guess we'll see.