ERHC Energy Inc (ERHE)

[jbofthecloth]

No one will buy EEL now because:
1. they have commitments to drill that they cannot fund
2. they have a balance owing to a driller they cant pay because their Nigerian partner stiffed them because...
3. ...there was no oil in block 122
4. their deal with BG is dead and has been for months - they haven't had the balls to tell anyone - so no money coming in to fund anything

JDZ positions and EEZ rights are full pay - no carries.

They are dead. Best to take the choice bits out of administration (UK term for bankruptcy) rather than buy into all the commitments.