ERHC Energy Inc (ERHE)

[vineseeker2]

Krom, First Alantic lost the shares to the Nigerian version of the FDIC during the bank enforcement actions. If this Nigerian FDIC thinks the stock is going up they would be unwilling to sell it back to Offor at anything but a premium, I think the bank valued it at .40 when they took it from Offor. If Offor can convince them that he can hold the price down as long as he wants they may let their price drop.
We don't know, again what Offor is offering them for the shares or what they are asking, but if they want $1.00 instead of $.40 we would be talking 60m x .60 or a 36Mil difference. It may also be Offor wanting to get the best of someone who publically insulted him over the loan in the first place, I can only guess at his motivation.