ERHC Energy Inc (ERHE)

[Julius Erving]

Some quotes:

Many are stuck in this stock because they trusted management. All the while management was diluting the hell out of the value.

Most shares were bought by longs here, when 'trust' in ERHC management by retail investors was long gone.

If ERHC management thought that they would never ever win the retail investor again for them, why did they even bother to take the hard and expensive way, and went ahead with the litigation trajectory anyway, while at the same time not advertising the company to the retail investor anymore, by putting out PR's about, for example, the court cases and also by simply filing, and the likes?

If ERHC management truly scared the retail investor away forever, then certainly a large and respected Big Oil company like TOTAL S.A. wouldn't even touch ERHC with a ten foot pole! I also think that Peter Netephe would have never have been appointed to this new advisory committee by the African Energy Chamber, if his 'reputation' was in the toilet, right?

https://panafricanvisions.com/2020/07/after-covid-19-african-energy-chamber-pushes-for-renewed-exploration-drive-with-new-advisory-committee/

Common sense?

So the question is still open: why did ERHC go ahead with the fierce (lengthy, expensive and certainly time consuming) legal battle over just one ERHC EEZ block anyway? For WHOM did they do it, if they obviously (I agree on that) did not do it for 'retail investors'. They did do it for SOMEONE, common sense dictates that of course. Here is where true DD starts...

I believe the sp. SP says no interest in ERHC. SP says the market values ERHC at less than a penny. Facts are hard to dispute.

In 'The Making of an American Capitalist' Warren Buffett says that he sometimes could not believe why the company was priced at such a low value. In later interviews (see youtube) he repeated that the share price does not tell you everything about the underlying business, it's telling you just about the perception on the company by the 'market'. So, like I said before: just looking at the share price is not considered 'proper DD' by anyones standard. Certainly not in ERHC's case. And on top of that: EMH indeed does not work here.

And of course you MAY look at the ERHC share price, like I also did (and then bought), but it can never end at: just looking at the share price. ERHC is currently undervalued for several reasons, and they have been mentioned here quite often. If the share price is still at these levels in 5 years, then I'm 'stuck' with these shares. Currently I'm far from stuck, we heard about the litigation AFTER us longs here bought in heavily. So it only got better.

So again, the question is still open: Why did ERHC management enter into the legal fight over just one EEZ block anyway, while they could have known that the 'retail investor' lost any faith in them? Certainly if they did not do their filings, did not putting out PR's, and the likes?

It's not that the litigation trajectory was far less time consuming than putting out a PR, right?

Common sense demands an answere here.