ERHC Energy Inc (ERHE)

[Krombacher]

The thing is anyone who looks at the slides at first glance will conclude the following possibly erroneous conclusions:

1) Only gas was found, no mention of oil

2) Let's quickly move on to other matters and sweep the no oil findings under the rug.

3) Those other matters only serves to emphasize that we have money for 5 more years, and production is more than 5 years away, so we need to raise cash.

That was rigmyster's reaction and will be the initial reaction of anyone looking at the slides.

but it would appear that there's a whole other story here.

1) only gas was drilled, but gas composition could predict oil below.

2) an oil finding during Phase II will make raising funds on the AIM very easy.

The last two points are not being emphasized by ERHC or the the ERHC slide presentation, and they need to be if investors are expected to 'read between the lines'.

Krombacher