ERHC Energy Inc (ERHE)

[YankeMike]

DegenerateGambler: You bring up some legitimate concerns, and you certainly have a right to express those concerns, especially because of the massive amount of shares you have

Art2004 has already done a great job in replying to you. I just wanted to add a few things.

Regarding the cash burn rate, based on the previous 6 months, the company has enough cash to last until about 2017. Of course this should be re-evaluated with each passing quarter as we obtain more data.

Regarding the potential of dilution, I would think it highly unlikely that any non-negligible dilution occurs. Management is clearly excited about an opportunity that they have discovered, and I would say let's at least give them a chance to show us the details. I think it's value will be more than then 2% to 3% figure that you mentioned. Possibly it will add value as much as 50% of our current assets? The company did say they want to duplicate what they did with our current GOG assets.
For arguments sake, let's just say the company found assets equal to our huge GOG assets. I don't think this will happen, but let's say they diluted the stock by 25%, but doubled our assets. Surely that would be a good thing and the share price should go up to reflect the increased asset base. As Art2004 mentioned though, the purpose of the IPO on the AIM is to raise cash.

Looking forward to seeing you in Vegas again!
Mike