ERHC Energy Inc (ERHE)

[oilman57]

First of all, ERHC has a $260 million market cap and has not drilled a single well yet. So I would say that the market is taking ERHC seriously. What should the market cap be right now? I know of no other oil company that is trading at such a high market cap before drilling a single well. There is not even a drilling program in place yet. So why would any investor buy into ERHC right now? You blame it on management I blame it on timelines. How much higher would the market cap be if ERHC put out a business plan or hired a CEO? Not appreciably higher IMHO. Because the stock market is very myopic. When drilling begins investors will start noticing the stock. Until then not much will happen with the share price. Much like every single other oil company.

Why hire a CEO? What is the point. IMHO it is wasted salary. Save the $40 million and wait as long as possible to hire one.

As far as Exxon, Anadarko, or Chevron continuing to push the process for the DOJ. No they probably arent pushing the process. They no longer need to. But they might have been the ones who got the ball rolling in the first place imho.

If I were Offor I wouldnt sell now. I would wait until drilling begins to sell his 50% at a premium. He is the one in the cat birds seat. He has waited this long. Why sell now at a discount. He wont sell at a discount. If someone meets his price he will sell. If not he will wait until drilling begins. He holds all of the cards.