ERHC Energy Inc (ERHE)

[Strategyone]

Walldog,

That is not my understanding. Management, BOD and JCG have simply set the time table and details for a potential buyout with the vote coming on 8/24. They have recommended (and are trying to sell the possitives of) the buyout option. They still have the same options as all shareholders to decide on their vote at the time of the vote. There is also the heavy $300 million backout option for either side.

Don't think too much about the $300 million. It is just to prove the seriousness of the offer. I don't believe there is any games being played or "waiting for drilling results" for this caveat. It is just what it is said to be. A penalty for backing out of the deal by either party.