ERHC Energy Inc (ERHE)

[balance_builder]

Oilphant....by all accounts (outside of listening to ERHC itself) it appears your continued prognosis of an ERHC sale will be the case.

Now we should be hoping that Sir Emeka Offor put together a deal that will make all of us weary longs proud to be a part of. While its difficult to fathom we could have very interesting deal of any kind (sp stinks) I think its important to further realize we haven't been given the official drill results either.

My thinking is that ERHC managment did a true dis-service to their "ERHC family" by emphasizing that biogenic methane gas was the base of their drilling efforts.

With the NSAI being worked on for a couple of months now...I would guess our BOD will have a solid base to make a unanimous recommendation for whatever amount of flesh SEO was able to pull off the buyer. All 5 BOD's. Count em....5. The most we've ever had. The Company had told me earlier this year that they would have an updated NSAI report AFTER official drilling results were released. I guess something changed.

It took Addax about 30 days from the date their managment informed their BOD of an offer from the Chinese to put out an acquisition agreement. Apparently ERHC's BOD met very close to June 15. If timelines follow that of Addax, Oily's "end is near" would be a very accurate statement. Addax's acquisition agreement was made public on a Wednesday.....probably the best day of the week to capture the attention of the most shareholders. Next Wednesday would be very close to 30 days since our BOD met. The NSAI report should be complete. Funny how they tell their shareholders they'd have an agreement by mid-June and here we are closing in on mid July and all mouths are sealed shut.

I've always wondered who our highly specialized technical team was that helped ERHC pick out our EEZ blocks. I'd guess a big part of the AKPO team. Funny ERHC refuses to tell its shareholders. If it was merely a consulting firm.....I don't think they'd hesitate spilling the beans.


David Bovells name still appears on HIS website. He got caught and I think its hilarious how our company tried a "coverup" scheme. Sometimes just a minor amount of DD makes these schemes smell skunky. His email and phone number remains on HIS website. Seems for a 2 officer company to talk of growth growth growth......that they don't seem to have much of a need for their Vice President of Corporate Development any longer.


Of course, adding a provision to their employment agreements for severance pay a few months back.....was a big sign of the route they were going down with this company.


So again, lets hope SEO cut out a large piece of flesh and that he has enough of his folks invested here that we get the same deal he secured.

BB