ERHC Energy Inc (ERHE)

[midtieroil]

The value of any company is the value of their assets MINUS what they owe to others. You can't just look at one side of the equation. Finance 101. The market is telling us that the 13 million dollars owed to others by ERHC exceeds the value of their assets. Hence the .0001 share price.

When you see nobody willing to drill these assets after ERHC spent years and years trying to find partners, with deepwater drilling in severe disfavor and with the total inepitude shown by ERHC, there is no doubt in my mind that the current valuation of ERHC is fully justified.

There is every indication that ERHC won't survive and , if they do survive, that existing equity will be wiped out in favor of those owed money and in favor of those supplying money to keep ERHC alive. Creditors and any new equity will own this company. Current shareholders won't.

Some continue to call this stealing the assets. I would call it how things work in the real world.