ERHC Energy Inc (ERHE)

[manuel06]

okay I guess I will try to answer you fairly. I don't know if you have heard but the JDZ which drilled 5 wells offshore...found no commercial quantities of oil or gas. Nothing substantial has happened there for ERHC since 2010.
The 14 Billion of projected oil in the JDZ, has become slightly less than 14 billion...LOL. The SAOTOME EEZ which ERHC has sold off Block 11 to Kosmos for aprox 4 million dollars which is no longer in ERHC's coffers but ERHC has retained some kind of milestone %. ( who knows). ERHC still has Block 4 But sitting Fallow ,no money to proceed and based on sale of Block 11 ...maybe not worth more right now than 5 million,which would be divvied up to financial obligations (not much if any left).
Chad well it seems,looks like a lost relative as it realy isn't moving forward as ERHC is lacking in MONEY!
Kenya drilled 1 well which cost ERHC 4.5 million aprox that they may be owing partially or in full as WE don't know. We also don't hear any word of commercial quantities in Kenya as that well was exploratory and not turning into a producer. Maybe ERHC will be involved in Kenya or not going forward we don't know . What we do know is that they have bad bad bad financials right now with not much informing of the shareholders about what will be happening in Kenya. Nice to have "great ASSets" before drilling,
but maybe not so great after like the JDZ and maybe Kenya for ERHC.
When you are broke .....THEY start to come after your ASSets!!
Good luck