ERHC Energy Inc (ERHE)

[midtieroil]

It isn't very difficult to distinguish between actual oil discovered and hoping there might be oil. The talk of ERHC having billions of bbls of oil is just nonsense. The JDZ was supposed to have billions of bbls. Instead it had none. Five dry holes proved that. Chad was supposed to have hundreds of millions of bbls but not a single partner was willing to even look. So how great was Chad? Now Chad is long gone. And Kenya was supposed to have billions of bbls too. A dry hole followed by the operator, who was also the majority partner, bailing after they had spent millions screamed otherwise.

Now ERHC has stiffed their only partner for $10 million and as a result no real oil company wants anything to do with them for good reason.

So it doesn't matter how many times I hear ERHC has has great assets and has billions of bbls of oil, I am not buying it. What they have is no oil, no partners, no money to drill, massive debt, disputed blocks, lawsuits and a lien.

The stock is at .0002 for a reason. And it isn't because they have great assets, great management, or billions of bbls of oil. It's because they have nothing.