Doug rule number one in the stock market is that the majority of investors are very short sighted. So they take a quick glance at ERHC, see 700 million shares outstanding, no revenues, and most importantly no active drilling program and they jump to other oil stocks that have current drilling programs underway where they can make a quick buck. Why park your money in ERHC and have to wait 6 months to a year for drilling to get underway when they can put their money in hundreds of other oil and gas stocks that are drilling wells right now and taking advantage of $60 oil?
The drillbit turning is what creates investor enthusiasm in oil stocks. Nothing else matters. So when a oil company has no drilling program underway there is usually no investor enthusiasm for the stock. TGA is currently drilling the Marakah well. So there is a buzz and excitement in anticipation of well results. EGY is currently drilling Etame #6, so that creates enthusiasm and people put their money into that stock waiting for well results any day now. I could go on and on. ERHC? Why put your money there? They will not be drilling any new wells for months. So it is viewed as dead money right now.
That is the mindset of the average investor. They want to put their money where the action is right now. They dont want to park their money in a stock where no drilling activity will be taking place for 6 months to a year. I own a stock EGY that has a great balance sheet, great earnings, and the stock has done nothing for about 9 months. Even with great earnings and great cash flow. Why is that the case? Because it had been a year since they had attempted to drill any new wells. So the stock has been languishing. Now they are beginning o drill the again so the stock should begin to run. (provided they dont drill a dry hole.) Small to mid cap oil stocks move based on active drilling programs.
You can't gauge investor reaction to ERHC by reading messages on this board and RB. Go to other oil and gas boards on yahoo. When ERHC is brought up the person gets run off the board for bringing it up. There is very little enthusiasm or discussion for ERHC on other oil and gas message boards. People see it as too futuristic. They want to make a quick buck now. Not a year from now.
Thats why intelligent people like you and I take advantage of the short sightedness and load up on ERHC before others get in. You and I know that everything looks great for ERHC. We just have to be patient. Once the consortium starts announcing drilling schedules and drilling gets underway then a buzz will be created about ERHC and that will start driving share price. In the mean time we just have to be patient and accumulate.
Let the dumbies miss the boat in it and pay two to three times the amount we are. They should be buying in right now. If they are too short sighted to do that we can take advantage of it and should.
AI
Market Data 
Markets 
