ERHC Energy Inc (ERHE)

[RUBY1100]

SFREED updates ....

Q: Can a new
> CEO or other Board members really do anything if SEO and friends
> control a majority?
>
> Or do you think SEO is also selling some of his stock and that's
> what will make the difference later?

A: In that past your assessment may have been true. However, promises
made to stock performance by Offor to his friends have worn very
thin. In addition, the attention his activities have brought on him
and have also brought unwanted attention on those with whom he does
business.


Q: regarding Starcrest: I was told that the Starcrest deal was put
> together in the first half of 2006, when erhc energy did not yet
have
> cash, and when erhc also did not have a mission statement that
> including obtaining other blocks - hence, why erhc was not
included.
> Can you comment on this?


A: Firstly, Starcrest did not have to put up any cash for the block.
The deal with Addax was done at the time the award made.

Secondly, the chairman of a public company has a fiduciary
obligation to provide the company all opportunity before himself or
his other companies. Full stop.


Q: While I question the probabity of opening up the Starcrezt-Addx deal to > ERHC in the face of probable Nigerian oppositon,
>
> I think a legal action on the part of major ERHC stocxholders and/or
> the ERHC BOD would put ERHC, the company, on the righteous side of US
> probes or ERHC/Offor/Chrome/NIgeria/Starcrest etc.

A: I agree completely. We may not be able to take a peice of Block 291, but we must try for reason you state. At worst we get a settlement
out of Offor - the return of some of his shares, perhaps. That is
more in control of US authorities.