ERHC Energy Inc (ERHE)

[rocky822]

Badog, the theory behind why he would be selling any shares now is that he needs the cash. I believe there's some fee(s) due for the recent Addax, Starcrest deal.

Also, it has been suggested that he needs cash to fund political contributions for the upcoming elections. Apparently, this is a "prerequisite" for maintaining power and receiving political favors in the future in Nigeria.

There has also been discussion about the powerful folks he may be "fronting" for becoming impatient with the current pps. They may have a need for cash as terms are ending, etc. and may be pressuring Offor for some cash and/or increase in pps.

These are suggested motivations which, imo, are conceivable. The $3 - $6 range for buyin/buyout scenarios are not. But, hey, hope I'm wrong.