When I read this, I don't get the impression that ERHC has completely turned their back on me as an investor.
ERHC announces JDA's approval for extension of Exploration Phase I in JDZ Blocks
Posted on: Fri, 01 Oct 2010 02:30:37 EDT
Symbols: ADXTF, ERHEE
Oct 01, 2010 (Datamonitor via COMTEX) --
ERHC Energy, an oil and gas
company focused on exploration and development, has announced that the Joint Development Authority has approved a six months extension of Exploration Phase I in Joint Development Zone Blocks 3 and 4.
The extension will enable the contracting parties to complete all studies needed for further exploration in the Blocks. Earlier in September 2010, ERHC supported Addax Petroleum, ERHC's technical partner and the operator of Joint Development Zone (JDZ) Blocks 3 and 4, in applying to enter into Exploration Phase II pending the completion of the studies.
Instead, the agreement was reached with the Joint Development Authority (JDA) to further extend Exploration Phase I to enable completion of the studies before commencement of Phase II.
Peter Ntephe, CEO of ERHC, said: "To date, there has been a tremendous amount of work carried out to update volumetrics of the resources, analyze geochemical samples, interpret sample analysis and reevaluate play concepts, but more time is required to conclude the study program. ERHC acknowledges the commitment and efforts of the Operator as well as the continued support and cooperation of the JDA."
What specifically is it that you want to know that you feel they are not telling you?
As far as the share price goes. It is my opinion we are in the .20's because of a "group" of traders that play this stock. If you look back at the charts you should be able to see that ERHC has always had a pretty predictable run. The difference this time around, there was a group dump resulting in the share price we see now. The traders took their profits in the .70's and .60's and have been building their new base. Some of them would like to see ERHC drop to.10. They will probably sell and take profits when we hit the.40's when the gap hopefully fills.IMO
What do you think the share price would be at now, if nobody ever sold?
