ERHC Energy Inc (ERHE)

[Strategyone]

petemantx,

Your numbers are way closer than the .41 per share.

If my recollection serves me correct, SEO/chrome originally paid $6 million for his majority purchase at that time (1998ish??? which may have been 400 million shares). After that and before ERHE got cash from the PSC signings, SEO/Chrome cash flowed the company by loans which got paid off by newly issued shares several years ago. I remember it being a big fuss at the time because the loan payoff in shares amounted to like .25 or maybe .41 per share at that time and some IHUBers were complaining that SEO knew the shares were going to immediately rocket to $3.67 per share, lol. Well, history now tells a different story.

Anyway, I agree with your thoughts that it was worth it for ERHE at that time and in the long run we would all have to agree that the price for the loan payoff turned out to be more than fair.

I really think all this will be a moot issue once the shares properly reflect the value of the oil below. Unfortunately, it is taking more time than most wished for including me.