ERHC Energy Inc (ERHE)

[midtieroil]

Again, I believe the share price is down because 1)ERHC has almost no cash left, 2) ERHC has almost no shares left to issue, 3)ERHC has no wells planned anywhere, 4) Chad is gone, 5)no word if CEPSA is still the operator in Kenya and if ERHC will be allowed to retain their interest in Kenya or will be forced to relinquish it due to the 10 million delinquency as required in the JOA, 6)ERHC owes the IRS 2.7 million and a lien has been placed on their assets as a result, 7) there are still more toxic convertible debentures outstanding which could result in billions of more shares being issued. But no shares remain so a reverse split may be needed. 8) ERHC has over 13 million in current liabilities, only 5 million in assets and only about 100,000 or less in cash, 9)The JDZ has been moribund for 6 years after 5 dry holes were drilled. No partners remain. 10)ERHC has had interests in the EEZ for over a decade but have done no exploration and have failed to find a partner in all that time. 11) ERHC has an MOU with a questionable related party who appears to be trying to get any remaining assets on the cheap. Whether a deal is possible is highly questionable as is whether current shareholders will be left with anything if a deal is actually ever done.

Those are all the reasons I believe the share price is down. Some believe it is down only because all of those events have been openly discussed rather than intentionally buried as some have tried to do. People need to decide for themselves on that.