ERHC Energy Inc (ERHE)

[ssc]

Getting very close to my 20 cent target. Now I have to decide if I really want to own this again, even at 20 cents. My main concerns are the same ones that made me decide to sell:

Market reaction to drilling said gas not oil to me.

Pressure on operating capital makes it questionable that the company can survive until production.

Need to raise capital says dilution to me. Question is how much will they raise and what will they do with it.

And one new concern that recently occurred to me - If Offor is willing to let the value of his 300 million+ shares decline by about 75% or more, what is he getting in return; and is he taking care of his own interests in a way that will make sure shareholders do not share in it? Quite the cunundrum.