ERHC Energy Inc (ERHE)

[jbofthecloth]

We are well past VC money, but you are very right in saying there is little interest in investing in juniors with nothing but property.

Having said that, ERHC's carries and partnerships are things on which they could raise a bit of money, $5mm to $10mm for example, if they wanted to complete an exploration program of an acquired company. One of the best things about acquiring a company with a hugely undervalued asset is acquiring management and additional contacts for raising that money. There is a massive amount of shareholder fatigue in companies like this so their stocks have been beaten down more than most and their incentives are to do a deal.