ERHC Energy Inc (ERHE)

[Krombacher]

Two questions for you:

In 2009's 10k, First Atlantic Bank owned 60.6 million shares.

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7009613-1183-365481&type=sect&TabIndex=2&companyid=5015&ppu=%252fdefault.aspx%253fcik%253d799235

In the recently filed 2010's 10k, there is no mention of First Atlantic Bank at all, or am I totally blind here?

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7607908-1171-358106&type=sect&TabIndex=2&companyid=5015&ppu=%252fdefault.aspx%253fcik%253d799235

Question 1: Am I missing something? Did the First Atlantic Bank thing already get resolved?

Question 2: If this lower share price is about 60.6 million shares then at 20 cents these share are worth about $12 million. If SEO's goal was to lower the share price to the lowest possible of say 10 cents, he would save himself a paltry $6 million...all that effort for $6 million, when there's billions of barrels potentially at stake? Seems a bit far fetched to me. On the other hand, if you are saying that normally, we would be trading closer to a buck and by keeping the share price near 20 cents is saving SEO some $48 million, then perhaps you have a point.

Krombacher