Wednesday, July 30, 2008 12:52:57 PM
You can't tell your shareholders that you will not plead and pay a fine to end this because you are not guilty of anything and, at the same time, refuse to publicly cry from the mountain tops about the injustice being done here.
They are either guilty of something, or they are not. So far they've been playing both sides. They tell us they aren't guilty, yet that act guilty by not screaming about the injustice.
The conferences obviously didn't help. Whatever attention they were seeking "off camera" didn't cause a stampede for shares. I question whether they are trying to do anything at all to raise ERHE's price. I get email from Redchip all the time promoting the companies they represent. Not ONCE have they mentioned ERHC Energy. ERHC appears to have paid to present at the conference but NOT paid to have RedChip promote their stock. Why not? Was that the cheapest way to appease shareholders without really accomplishing anything? Why don't they want to get the share price up? What has Offor agreed to "off paper"? Did Addax need "grease" to fully carry ERHC? Is keeping the share price down until Addax can buy ERHC that grease? How many CEO's in a row have been unable to get the value to be recognized? Is it even statistically possible those failures are coincidental?
I'm tired of the wait. I'm tired of writing these same words to management and never knowing if they ever read them. I've written the entire BOD, individually addressed and mailed, 3 times voicing exactly these same complaints. I've never been acknowledged for the effort. I don't even know if they open their mail.
I assume that I am not the only shareholder writing them. Maybe I am and that's why I go wholly ignored.
We're far too close to drilling to be trading in the 0.30's and if management isn't going to address that glaring failure, a public outcry by shareholders may be the only way to get their attention. I'm sick of Nigerian time. This is a U.S. company that needs to grow up and act like one.
They need to show their long term shareholders the money or get the hell out of the way and let someone in who can.
Ntephe, and the entire BOD of this company, need to be held accountable. The SEC is on our side in this regard. BOD's are suppose to be looking out for shareholders interests, yet it appears that this one has other priorities.
There is an obvious discrepancy between the group comprised of Offor and current ERHC management and the public shareholders of ERHC Energy. That needs to change, whether its their priorities or their bodies I don't care.
How's that for an initial plan of attack?
ERHC's share of JDZ oil; 1 billion barrels. Once proven, ERHE will be $10+. All we need is time and patience.
Nuf said.
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