ERHC Energy Inc (ERHE)

[mz157]

The ship for alternate growth strategies has now sailed...working on a plan B may have worked around PSC-signings when we had some money to work with. Unfortunately management has managed to p*ss alot of it way through bad investments (Stanford), poor cost control...doubled office space for what exactly? paying 6 figure salaries to "executives" who have yet to accomplish anything on their own, jet-setting throughout the world etc etc and now trying a growth strategy about 3 to 4 years to late by buying a penny stock on the open market (even that has been executed poorly as they ran the market up and we are most likely underwater on it already).

It's obvious that SNP is waiting to see the results of Total's drilling in block 1 and I think it's a smart move even if I hate as an ERHC shareholder. If there is success, things will get exciting around here. At this point, no growth strategy can get the SP to the price we all dream of. The only thing that can do that is the JDZ (and maybe the EEZ). I wish they would shut up, stop doing conferences, find a tiny office and simply wait to see what Total does. Peter needs to batten down the hatches and make sure we have some money left in the rainy-day fund so that we can at least see what happens. I am not holding my breath