ERHC Energy Inc (ERHE)

[Strategyone]

Strass and Fishdog,

What Fishdog said is exactly what I have felt the company is doing all along. They have wisely waited on going to fast in building the company before their current assets are valued more fairly.

As soon as proven reserves are able to be booked on ERHE's balance sheet, the company will have the leverage to solicit either investment or bank loans to go into the next phase of building a more sustainable long term company. There will always be the possibility of a buy out at any point along the way but it was nice to hear from the company that their long term plans were to leverage itself and purchase revenue producing assets to diversify the holdings.

I also feel very confident that ERHE (SEO) will do the right thing going forward with management. If you really analyze what he was able to do (who he was able to recruit and when) with the limited company that ERHE was years ago, you have to give the man some credit. Look at the caliber of the outside director(s) and the few executives he has brought on in the last 5 years with oil experience from large oil firms. Once ERHE has the proven reserves and they begin building the company going forward, I would bet ERHE will recruit several high level execs from companies familiar with what is in the GOG like from Addax or Chev or XOM etc. The potential 1 - 5 year gain will be hard for a seasoned and knowledgeable oil exec to pass up (IMHO).

It is almost time and I am confident they are on the right path ( I am all for a buyout at the right price too though..lol).