ERHC Energy Inc (ERHE)

[Julius Erving]

Badog,

I notice several thinking errors. Let me address two of them here.

Did you realize that the sp does not indicate anything of the sort????

In general that is true. But it is a superficial argument, not specific to the ERHE casus here.

If a share price was always indicative of the value of the underlying business, then it would become even harder to make money trading stocks.

If I still owned a large stake in ERHC I guess I would still be hanging onto stories of short sellers and illusive deals with Total.

Krombacher has over 10% now, he did not own a large stake in ERHC back then. So the suggestion here is incorrect: he does not still own a large stake, he bought more back then, when even I thougt it was over with ERHC. That is why I only own 50 million shares, and Krombacher over 400 million shares...

Regarding the illusive deal with TOTAL: What is the suggestion here with the phrase 'illusive'? We see years of litigation over block 4 in the EEZ, and the suggestion is that it is all almost worthless?? Just yesterday I watched a programm on tv about the fortune of singer George Michael. He was under contract with Sony, he wanted to get out of it, because Sony still marketed him as a 'sex symbol', while he did not want that anymore. He went to court over it. They said that litigation costed him 4 to 6 million dollars...

Now you can claim that the TOTAL contract is not worth anything much (by looking at the current share price). But I think it is smarter to look at it from another, more realistic, side: a pretty hefty sum of money (and time) has been invested in this EEZ block 4 contract. That sum of money is larger than the current worth of the entire ERHC company.

A savvy investor would say: "He, wait a minute, what is going on here? What is the explanation for this? Is the share price reflecting the true worth of the company?".

I sure wouldn't be hanging on because of the management that, as you say, mismanaged it's money, made bad investments, diluted the hell out of the sp and won't file financial or communicate with shareholders.

Longs are not 'hanging on', they saw a whole new ballgame. Instead of a bankrupt company, they saw, to their surprise, something totally different unfold. And now recently Ntephe was even offered the opportunity to join a highly visible committee... despite that 'fact' that he is (and I quote:) "someone who mismanaged it's money, made bad investments, diluted the hell out of the sp and won't file financial or communicate with shareholders". Go figure... right? See post 340010.

So here is evidently something 'strange' going on. It is important to ask yourself the correct questions when looking at a certain situation. I would say: try to find answers to the proper questions, and you will certainly arrive at a totally different conclusion.