ERHC Energy Inc (ERHE)

[Strategyone]

Balance, you ask "are we still waiting for them to deliver that action"? Stated 16 months ago by PN.

That depends on how you choose to look at that half full glass. Let me see, 16 months ago, they had no drill ship in sight and the partners hadn't drilled 5 exploratory wells in their three blocks. That's 4 more wells than Chevron has done.

I am pleased they drilled 5 wells. I am more pleased that they drilled the extra optional well. I am pleased that they are working together to analyze all blocks to possibly exploit together (better chance of being commercial sooner). I am pleased Total is now interested in Block 1 (yes, nothing to do with our management, but Block 1 value just doubled due to the 5 new wells drilled in our blocks). I am pleased ERHE management hasn't rushed into other marginal fields yet (maybe if it is a really good deal and we are closer to production on the JDZ, I may get more excited over this strategy). I am pleased with the EEZ selections and progress. I am very pleased with the new BOD appointee.

I choose to look at our current position as the glass being half full and still being poured.

I don't disagree with all of your frustration with management but I also don't plan on dwelling on it or harping on it too much until it affects the assets I bought into.

When the partners PR the word "commercial" and the next steps for phase 2, this board will be a different place with a lot more half full glasses (and hopefully a substantially higher share price...lol).

Good luck to all