ERHC Energy Inc (ERHE)

[Strategyone]

Interesting day.

I made my first new purchase of ERHE in nearly a year. I was waiting for stronger signs of actual drilling. I took the combination of ERHE's update to shareholders along with the Upstream article to be the catalyst I needed to invest further (albeit, relatively small increase).

The specific statements by Upstream of "within two months" sounds to me like the real announcement is going to be less than a fortnight away, lol. Actually, I expect Addax to PR the news prior to the conference call next Wednesday. The timing would be good for them to breeze through the financials and focus on the forward looking progress.

The volume today of just under 1mm shares is likely mainly by traders getting out that purchased in the early teens and long term shareholders waiting for further indications such as myself. When Addax and/or ERHE does an official PR, I think we will see well over 1mm in volume. If a rig is announced to be on site in two months or less, I think we will see a much stronger reaction to the share price as it will be a "surprise" to the industry. Most drill ship announcements are further out in the future like that of the AA announcement. What ever drill ship it is, it must be close by and almost done with another project or sitting in port somewhere getting ready for the next assignment.

In any case, I will be patiently waiting official word from Addax (my guess is Monday either just prior to market open or right after market close) for the specific details and timing.

Good luck all