Balance, I phoned Dan Keeney in the context of the news about the new Vice President for Corporate Development. I told him about another company I own stock in, Enova Systems (ENA) who make computerized drive sytems for alternative fuel vehicles, mostly trucks and buses. ENA had added a listing on the AIM in London, with an IPO, to their listing on the AMEX.
Enova had used the IPO of a couple of hundred million dollars for cash for operations.
I added that ERHC Longtimer and myself had already posted about the possibilities of another listing on the AIM.
Dan responded that with the new VP there could be another listing of ERHC on another stock exchange, probably in Europe. He would not specifically say the AIM.
He agreed about the possibilities for an IPO explaining that ERHC would not be seeing substantial revenues from our JDZ blocks for several years.
According to Dan, a listing on a European or English Exchange would also add a lot of new shareholders from another large consumer market.
I agreed and said that the London Exchanges had traditionally been home to listings of companies with oil/energy assets in Africa. As posted before, the London Exchanges usually reward African Eneergy companies more generously than the US Exchanges.
Dan noted that Peter N., our new CEO, wanted to be a lot more active as a CEO and have a more active growth policay than Luca had. The Board of ERHC feels that the company has been sort of stagnant, just waiting, for too long.
These sentiments are also those of stockholders, I assume.
Dan did say that he wanted readers to know that their would be no switching of ERHE to another stock exchange. He did not prefer to have those fears raised and posted about.
The listing and the IPO on another exhange would probably follow an
acquisition of some kind. The new company would be a subsidiary of ERHC. Dan added that he does not attend Board meetings and had no knowledge of detailed plans.
He also wanted to be clear however, that the possiible deal would not involve our GOG assets or JDZ blocks.
ERHC does intend to become larger company. I guess the office space in Houston can attest to this.
Dan added, as we have read, that David Bovell, the new Vice-President was experienced in all the above activities.
The time frame mentioned was in a few months. I would say during 2008 though I can not be definite.
I hope the above answers your posted questions.
I don't know any other details though my IMHO guress would be the AIM
As posted, to me me now, "It's all good!"
