ERHC Energy Inc (ERHE)

[daylatedolarshort]

Kingpindg Thanks for all the DD you share.
In addition to what you highlighted in post# 236857, this also grabbed my attention:

"For instance, if we hold 20 per cent and the cost of the well is $10 million then it means we have to release our own $2 million to execute the job. That is centrally our business model."

Leads me to believe the shelf placement was done for more than simply raising cash to sustain payroll. So if that $2 million provides a 20 per cent revenue stream, that's not dilution, that's brillant! And if ERHE/SEO does want to sell out as some have suggested here, it makes ERHE more attractive to a potential buyer and more valuable; much the same as what Addax did prior to selling to SNP. IMO

"The wells are there but they have been capped for some reasons or they were never developed. We are negotiating currently with at least three owners of marginal fields even though that is still being done in confidence."

It looks to me like ERHE/SEO is covering all bases: positioning itself for a buyout and also positioning itself with a backup plan if the price isn't met near term. IMO