I first would like to thank gary3699, keeneypr (good name) and getgreen (although a little late) for posting the ERHE PR.
Since I have some experience in commercial real estate I would like to comment on the office lease. The total space of over 5,000 sq ft. could easily accomondate 30 people and considering the present number of ERHE employees, there will be plenty of room to grow over the next five years. But for a while (a year or two or more) ERHE will be paying for "UNused" space. This is not very economical presently, but I do not know the future plans and would hope that this space is filled with productive employees at some time in the near future.
As far as what the PR indicates about this lease, maybe a 3 year lease with an option for 2 more years to total to the 5 years actually stated in the PR. This by no means is considered a "long" term lease in commercial real estate. Maybe EHRE considers it long term, but IMO it would have to be at least 10 years to be considered long term.
However, for ERHE to commit to even this lease is quite promising. The mangement is thinking about the future and planning for bigger and better things. This could only indicate a brighter future and should dampen any thoughts about ERHE being bought out in the near term. It is hard to believe all this talk the OILY's post generated about a buy-in and a cash infusion and distracted from the PR.
Granted the PR was not really any new news, but it was sure nice to here from the company. The three big IFs remain out there, when will ERHE get a new CEO, when will the drilling begin and when will the DOJ be resolved. My guess, (in order) a fortnight, a fortyear, and a couple of fortyears.
Patience is a virtue and all of us will have to continue to be patience. One of my favorite expressions from another board, was soooooooooooooooon!
DeGen
Ps: The OIL IS EVERYTHING
The $64,000 question is: Will there be a Rig of Oportunity or do we have to wait for the AA begin drilling On Oct 1, 2009?
