ERHC Energy Inc (ERHE)

[jbofthecloth]

What he thinks the shares are worth may be irrelevant. I'm not saying this is true nor do I have any information to support or deny this, but IF he was dumb enough to leverage his assets (not necessarily his ERHC shares, but other assets) to grow other assets or maintain a lifestyle, he may be under water on many of them and be facing margin calls. The big Russian oligarchs have gotten themselves into a world of hurt doing this.

I doubt, however, if he could obtain excess leverage on his local assets. Most local banks don't have the capaicity and most international banks would be loathe to offer leverage to a Nigerian, especially given his episode with FAB. So I doubt he is in sych trouble.

If he is, however, he may be a willing seller of his ERHC shares (he'd have to sell what he can, not necessarily what he wants to). This would be wonderful. As a partner in the JDZ and other projects, Addax would be the natural buyer.