ERHC Energy Inc (ERHE)

[farrell90]

ERHE green
ERHE is the only stock in my portfolio green today. I think the stock is oversold, but we are not likely to get any traction until the government investigation is settled. Unless SEO seeks a foreign buy out to escape Washington's scrunity as suggested by S. Freed; we will probably have to wait until drilling begins to get a significant increase in share price. I agree with AA a buy out is a possiblity.
I reviewed XOM 2nd quarter results announced today. Interesting that in spite of record crude prices net income is down and petroleum liquids production is off over 1% compared to 2nd quarter 2006. EPS is up because of the continued share buy back.
I believe we will see a wave of buy outs the next few years especially if we avoid a global recession. As long as demand for oil keeps heading up, companies like XOM will eventually start buying reserves instead of their shares.
In the meantime I am buying ERHE on the dips. I bought more today. Good luck Farrell