ERHC Energy Inc (ERHE)

[Lickety Split]

I no longer trust the management of this company. Having said that, I will post one final concern regarding future share value and that would be my concern for a Reverse Split. Management has mentioned this in the past along side of their intentions to buy into small properties. Could this be the next shoe to drop?

Before people go off on me for mentioning this concern let me ask those who are happy about today's announcement if they think that the company could sustain profitability with 722 Million plus shares outstanding from a small producing well that they have to throw millions at before collecting a dime?

Food for thought, and stress these are my personal thoughts or demons if you prefer. I had hoped to see this investment through to drilling results but management is making it more and more difficult to believe in. I have not been a flipper like many if not most of the longs here. That is to my detriment but I believed in the assets - strongly believed, but now have doubts of them coming to fruition anytime in the next few years. A buyout was my optimum scenario. Again, lack of management actions to strengthen shareholder value have made me sour on the whole potential of being a buy and holder of the company. I may keep a small core position in the hopes that maybe just maybe my intuition is dead wrong. I did not sell today, but the more I dwell on this the more doubts I have and do not trust this management not to drain the remaining assets on who knows what, and just say oh well it turned out to be a bad business deal.

Best of luck to those who can still believe.

Strass - Gone from posting any longer.