ERHC Energy Inc (ERHE)

[Krombacher]

You are wrong. The marginal properties was announced around Nov. 2009:

http://www.erhc.com/en/art/114/

people were discussing buying marginal properties long before that in 2008.

Here's a comment from midtier oil telling another poster that it would be bad for them to invest in marginal properties in Louisiana a full year before ERHC announced any marginal properties:

There are a couple hundred companies on the NYSE that are doing stock buybacks. I don't really see it as a sign of inept management.

You say you want them to aquire undervalued assets in the oil and gas industry. Buying their own stock would be doing exactly that. If they could find a better oil and gas company or properties with a higher potential for appreciation than ERHE that they could pick up for about $5 million, I'd tell them to go right ahead and do it. I just don't think it exists. For that amount you might be able to pick up a marginal field in Louisiana or Texas but not much else. Nothing offshore for certain and then we'd have to hire staff to operate it. I just think ERHE stock is the best thing ERHE can invest in right now but it's certainly not the only path available.

By the way, I agree $10 million is too much to use for a buyback. $5 million would be OK though.

post #147298

Krombacher - the above may be wrong