ERHC Energy Inc (ERHE)

[Nightdaytrader]

oldoil, yes, I would definitely sell for 50 cents before exploration. You have to remember, ERHE has 1.9B shares. At this point, nobody is going to pay $9/share. That's $17B dollars. Impossible.

Look at Komos. They discovered 100 Trillion cubic feet of natural gas off Mauritania/Senegal a few years ago. Convert that into oil and they own billions of barrels of oil (with their BP partner). A couple of years ago, during oil crisis, their stock was 0.55 cents. The point being, it costs billions and billions of dollars (& years to put infrastructure in place), that are needed, to get this natural gas and or oil, out of the ground, underneath a couple of miles of water.

Small companies can't pay for the extraction/production. So you may be sitting on lots of oil but if you can't get it out of the ground, it's not worth anything. Thus, these small companies are at the mercy of the supermajors. Total and Shell can just wait ERHC out. They have plenty to do with new discoveries in Namibia, South Africa, etc. So speaking just for me, yeah, after 17 years of waiting, I would take 50 cents in a heartbeat.

JMHO
ND9