ERHE is sitting on (10) Hydrocarbon Blocks worth an estimated $30 million dollars and at a current market cap of 400K if you would use 2 billion shares outstanding.
If ERHE files for bankruptcy, these assets will be tied up for years on end trying to resolve the outstanding issues.
Having said that, should Star-Crest payoff the convertibles and gain a 33% interest in stock plus a 33% share of the Hydrocarbon assets for part of Star-Crest cash flow off of OML-40, the dark clouds could indeed start to drift away from ERHE. Maybe Eland Oil buys the balance of shares in a reverse split stock exchange where ERHE becomes part of Eland Oil, after all Eland Oil only has OML-40 to work and would like to have access to the Kenya block as well as the Chad property.
How this all shakes out will be Very Interesting!
Oh, No, Thinking Out Loud again am I?
Could I be Wrong? Me Not Think SO!! but that is MY Opinion, not yours!
Sneak, Have a Great Day!!
