ERHC Energy Inc (ERHE)

[Krombacher]

tryoty,

While I agree with you that the bank investment probably couldn't have been avoided, I disagree with you that Offor is the master of anything other than truck driving.

His skills in the JDZ have shown that he could make terrible deals in the JDZ, which relative to a cash strapped company, like ERHC was at the time, looks good to the few who are fooled by the glitter of a billionaire doing a deal.

Now, you say that Degen has invested in a company, and if he feels that those were bad investment decisions, then he should probably move on.

You are RIGHT! If I so much as smell that the marginal fields and AIM listing are really serious at this juncture, just when the company needs money before the results are finally released, then I WILL SELL.

Because such an investment in marginal fields at this time when cash is needed for a long haul wait on the results, is so reckless, in my opinion, that I would've lost all and complete trust in management. And I would probably sue them to boot.

There's a reason why the share price drops after every PR, because every PR has been about spending money and none of the PRs have been about the drilling results (at least in a tangible hard data sense).

In fact I am seriously considering selling some of my holdings now. Yes, even before results are released, because I am SERIOUSLY questioning management judgment now.

Why? If indeed management knew all along that this thing would take more than just a few weeks, and have been doing marginal fields/AIM nonsense all along, then that in my opinion is completely reckless. I can only hope that as some have said here that the TOTAL entry into the JDZ has been a game changer and the marginal fields thing has been put on hiatus until the results of the drilling are completed.

ALL JMHO

Krombacher