ERHC Energy Inc (ERHE)

[Krombacher]

Who said there was a haircut from $8 to 10 cents? All I did was explore the "just in case" 10 cent scenario. And there will not be any haircut below 10 cents. That is absolute rock bottom...and probably too low as it is.

It's simple. Sneak told us that $100 million for the EEZ was likely, and he was right on the money on the 5% carries as was confirmed by Africa Intelligence. He also said $300 million for the entire deepwater portfolio...plus a bunch of carries all over the place.

$300 million = 10 cents, NOT including all the carries.

EEZ to be drilled this year...and may hit one of our 15% options...that's going to be money, money, money, if oil is found.

Anything less than 10 cents is a PURE SHORT SELLER'S PIE IN THE SKY PIPE DREAM! Not happening. EVER.

That said, no point in bargaining over 10 cents because I'm simply going to wait for this to be settled in TOT shares. Simple as that.

Krombacher