ERHC Energy Inc (ERHE)

[balance_builder]

Still "all in" here! The recent developments are definately eye raisers.

Two weeks after managment announced that they had an agreement and a plan of action (related to the AIM) they amend and announce they are seeking alternatives. Now its become another ERHC secret. Sometimes secrets have very favorable outcomes!


David Bovells recent saga gives the appearance (to this investor) that his services/attention as ERHC's Vice President of Corporate Development are no longer needed so he began moonlighting his "next" career a tad bit prematurely. I would guess he received a "golden parachute" as a change of control or new owner is in the works. I hardly think anybody would post a biography, phone number and email on their website without FIRST seeking permission (or it was this persons action to begin with).

I doubt after a decade of doing business that ERHC would slip this change into their 10K if there wasn't a grand purpose involved:


"POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE OF CONTROL

As of September 30, 2009, Company has entered into four employment or other agreements that include a change of control severance provisions with an executive officer, including the named executive officers. The Company’s employment agreements with provide that certain officers are eligible for payments upon any termination without cause prior to expiration of the contract as described below under Employment Contracts."
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001140361%2D10%2D003013%2Etxt&FilePath=%5C2010%5C01%5C28%5C&CoName=ERHC+ENERGY+INC&FormType=10%2DK%2FA&RcvdDate=1%2F28%2F2010&pdf=


We wait. Each investor has his own timeframe for waiting/selling. It would seem most are holding onto their shares very tightly. The volume is anemic to say the least.