ERHC Energy Inc (ERHE)

[balance_builder]

Here's my thoughts for the day:

Either the drilling was a total disaster....extreme disappointment

or......

The drilling success was a huge success.


We/I have DD to indicate it could go either way. If one was strictly to listen to what ERHC told us....they found only gas and the gas that they were specific about finding (biogenic methane) is not the type of gas generally associated with oil. Not good. The sp demonstrates this report is accurate.


On the other side of the coin....why didn't they tell us the specific type of gas found in each drill?? Why did the drills take 1/2 the time as OBO? Why was ERHC quick to point out they drilled to the depth they "had to" drill to. Why did Gralla indicate he believed elephants were present? Why did David Bovell lie about his $10 comment (did he forget it was taped??) Why wasn't this meeting webcasted? Why didn't they file an 8K on this new information? Why did DK lie and state it was all information from December....though it included the Oki East drill information which wasn't drilled yet?

Why didn't we have more selling that 1% after being informed they only found gas? Why has there been only about a 1.5% exchange of the O/S since this "pizz poor" drilling result news was released? Why is Total interested in Block 1 if its not commercial? Why did Prazeres report oil found in blocks 3 and 4 in "expected quantities"? Why did ERHC management stop talking with shareholders?


Basically, my continued investment in this company is based on what appears to be the co's concealment of information from their shareholders. That is sad....(on my part?) considering this company is a publically run company.

ERHC began their growth spew at the 2008 sharholder meeting. Don't look now but it hasn't grown much during that timeframe. Yet, we honor Ntephe with a seat on our BOD. A real publically run company would have fired him for his responsibility of losing 20% of our cash and his self stated statement that his performance has been less than satisfactory. Instead he's given a seat that is suppose to oversee company mangement and we promote him to CEO.


There is definately a game plan going on here that they have failed to include the minority shareholders in on.


Hopefully we (minority shareholders) become a force to be reckoned with BEFORE we are caught with our pants down looking back and holding a half a sack of nickles watching others collect on the assets we've clung to for years.


We all better be hoping Total has a genuine interest to take on a huge project (JDZ). I'm still here because I think they do and 100% of the shareholders (majority and minority) make out like bandits. Maybe they (Total/Chinese) don't want this thing getting away from them with real drilling results released.

Hopefully you all looked at the Total video posted up....and its computer capability. Sounded to me like they could punch in the seismic....punch in the drilling results....and they'd have all their answers in about a second.

Lets hope this 6 month delay is for the purpose of the big boys (Total and Sinopec) putting a master plan together for JDZ wide development.


Lets hope SEO wants to take Chrome or Starcrest into the niger delta and needs funding to do so (i.e. sale of ERHC) while his buddy is in office (one more year).

IMO...we will ALL be taken care on this investment. I side toward optimism and the drills were very successful and proved up exactly what the operators wanted to prove up. When they're ready for their next stage....we will be included and might just be a vital part of their going foward plan.