ERHC Energy Inc (ERHE)

[balance_builder]

Tamtam....perhaps you can shed a little light on just how your 3 stocks you have on the AIM have done?

Based on your previous posts....EEL was one of them. They traded down to about 5P after one of their delistings......then went as high as about 20P before being delisted the last, and so far, final time?

If the AIM is such a Godsend for "raising funds" as ERHC has been touting.....what happened to EEL? I do know they have some quality assets....just surprised they weren't able to raise funds to stay listed. In fact, didn't they have to take a loan from Oando...who then converted the loan to shares and THEY now own 78% of EEL basically stealing shares for 2.75P?

For EEL...I would say the AIM failed them in terms of providing a means for raising funding.


I also believe I recall you mentioning an investment in AFREN. I believe AFREN has been listed on the AIM (and recently to the LSE) for nearly 5 years. AFREN is currently trading for 91.6P after being listed on the AIM for YEARS. Yes, they DID raise funds but how has that grown the company? Sounds more like dilution to me and a sp that DEMONSTRATES just that:

http://uk.finance.yahoo.com/q/bc?s=AFR.L&t=my&l=on&z=m&q=l&c=

I believe AFREN has production of about 30K barrels per day....operates as a real oil company with real oil people and yet they trade at 91.6p after 5 years of being listed on the AIM. What a joke in terms of "enhancing shareholder value"!!


Here are the co's ERHC specifically listed in their presentation at the shareholders meeting as Oil and Gas co's listed on the AIM on slide 27: http://www.erhc.com/attachments/articles/136/AGM%20Presentation%202010_04_27.pdf

Bowleven

http://uk.finance.yahoo.com/q/bc?s=BLVN.L&t=my&l=on&z=m&q=l&c=

Do pull up the chart. Do you call this success in terms of "enhancing shareholder value"????? Ouch!!!


Chariot Oil and Gas

Oops....ERHC made a mistake. This company trades on the LSE not the AIM. Did they think nobody would look it up???????


Cove Energy

http://uk.finance.yahoo.com/q/bc?s=COV.L&t=3m&l=on&z=m&q=l&c=

Fresh at the game. Chart good for a trade thus far. Anybody impressed in terms of shareholder enhancement?? I'm not but in fairness...they just arrived.


Dominion Petrolem

http://uk.finance.yahoo.com/q/bc?s=DPL.L&t=5y&l=on&z=m&q=l&c=

Successful? Remember....I'm not picking these companies out...ERHC did in THEIR presentation stating they O & G co's listed on the AIM. Ouch....looks to me that they are at a fraction of the value since their 1/07 listing on the AIM.


Gasol

http://uk.finance.yahoo.com/q/bc?s=GAS.L&t=my&l=on&z=m&q=l&c=

Another chart that says...sorry investors....you are down 50% since the charts beginning since after listing on the AIM.


Global Petroleum

http://uk.finance.yahoo.com/q/bc?s=GBP.L&t=my&l=on&z=m&q=l&c=

Another winner ERHC points out as an AIM listing. Looks to me if you would invested in this one as far as the chart goes back on the AIM some 5 years ago, your portfolio would be showing over a 66% loss. Again, these are the winners ERHC listed as being on the AIM. I am not pulling them out of my hat.


Providence Resources

http://uk.finance.yahoo.com/q/bc?s=PVR.L&t=my&l=on&z=m&q=l&c=

We finally arrived at one that shows some profit on the chart for being on the AIM for nearly 5 years. Not much profit....but profit nonetheless in the last 5 year time period. Would you invest your hard earned money in a stock showing this amount of gain after a 5 year wait???


Range Resources

http://uk.finance.yahoo.com/q/bc?s=RRL.L&t=5y&l=on&z=m&q=l&c=

Another real winner listed as successful by ERHC. Looks to be listed on the AIM in late 2007 is down since its listing about what....80% of what it listed at? Maybe 90% down???


Sirius Petrol

http://uk.finance.yahoo.com/q/bc?s=SRSP.L&t=my&l=on&z=m&q=l&c=


They look to be about break on the chart for their listing on the AIM some 5 years ago. Break even = dead money for 5 years. A winner??? Hardly.......IMHO.


Tower Resources

http://uk.finance.yahoo.com/q/bc?s=TRP.L&t=my&l=on&z=m&q=l&c=

Down as since the chart became active since listing on the AIM.


Victoria Oil and Gas

http://uk.finance.yahoo.com/q/bc?s=VOG.L&t=my&l=on&z=m&q=l&c=

Do you want to park your money here?????

Frankly, after reviewing every single investment ERHC listed on their presentation that is listed in the AIM....NOT A SINGLE AIM listed co is attractive or has provided shareholder enhancement.

////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

Here's more AIM focus from ERHC's presentation slide 28: http://www.erhc.com/attachments/articles/136/AGM%20Presentation%202010_04_27.pdf

"Recent AIM fund raisings by African focused O&G
companies:
– Afren ? $175m in November 2009
– Bowleven ? $113m in June 2009
– Cove Energy ? $68m in September 2009 & $38m in
March 2010
– Dominion Petroleum ? $50m in March 2010"


While these co's were successful in raising funds...have they truely been successful investments? A resounding NO...NO...NO.

My point....we all better hope that SEO gives the nod on a deal and ERHC's pipedream of growth never happens. In fairness, ERHC has been touting their growth strategy for years and they have not made a solid move toward it yet....talk is cheap.

I swear some investors on this board would buy used condoms if they were told by Peter Ntephe he had washed them.


In a dire emergency for ERHC to remain alive...stay afloat....I can see a need for a way to produce funds.....but please don't believe the move to the AIM for the purpose of investing in Nigeria's marginal fields is healthy for your investment. H....even ERHC couldn't produce much success (if any??) in the AIM listed co's in their own presentation.

I am NOT saying the OTC/BB is a healthy environment. Its not...and its extremely rare that it ever has been.....what I am saying is ya'll best hope SEO comes up from the table nodding his head up and down in a "yes" type pattern.

Until that nod....I imagine ERHC will continue to sell used condoms to those who want to believe.


DO NOT take this post as a negative. I remain fully invested here because I do believe the nod will come and we will make out like bandits. While we have nearly 5 years of operating cash left.....does Total and maybe Qatar Petroleum have 5 years to gain an interest if they are focused in doing so after looking at the drill results???? Does SNP have 5 years to wait in their PSC's to find a team capable of developing the JDZ? I don't think so....so all said.....their hands are somewhat forced.

THE CLOCK is not simply working against us in terms of operating cash....it is also working AGAINST the players that will likely develop the JDZ. All IMHO.

Edit: TamTam...although I replied to you, this post was meant for information....not as a direct response to your post.