No the stock is down because of abysmal management, no oil found and lack of any revenue to sustain operations.
And this theory that anyone wants any of ERHC'S assets seems far fetched. They jettisoned Chad and one of the EEZ blocks because nobody wanted ERHC or their properties as a partner after years of trying.
And I don't believe for a second that ERHC has any say on what happens in Kenya. They are not the operator, they are a minority partner who is delinquent, they have no money, the exploration period expired and there has been no activity for a year.
I guess this is a repeat of The JDZ hoax where some still say there was oil there, that it was being hidden, that the operator didn't leave and that operations would start back soon. Six years later it is as dead as ever.
