ERHC Energy Inc (ERHE)

[manuel06]

You are kidding right?
They are not in a position to buy anyone as they are looking at survival themselves.

Circle Oil plc Strategic Review
? As at 31 December 2015 the Group had Cash of US$10.0 million but receivables from Egypt and
Morocco of US$21.6 million. The total debt position of the Group is US$77.5 million and there is a
further US$14.1 million of trade creditors
? In conjunction with a waiver from IFC regarding any repayments and delaying a redetermination,
on 15 March 2016 the Company announced it was considering a number of options to reduce debt
and ensure that the Company has sufficient cash flows to fund future operations
? The scope of the options considered under the Strategic Review include, but are not limited to:
? a sale of one or more of the Company's existing assets
? a corporate transaction such as a merger with a third party
? the sale of the entire issued, and to be issued, share capital of the Company
? the raising of capital in the form of a subscription for new ordinary shares in the Company by
one or more third parties
? Following receipt of proposals the Directors believe that it is likely that there will be no value
attributable to Circle Oil plc equity holders