ERHC Energy Inc (ERHE)

[midtieroil]

If we get some big news and can still buy at 12 or 15 cents I'm not sure that will be good news. I think the the signing of the PSC in the EEZ is not news and will have no effect on the share price. Block 5 and 6 being settled is not news either. Getting an AIM listing is no big deal either.

Signing a JV partner in Chad or the EEZ is news. Moving forward to Phase 2 in the JDZ is news. Imo state, who knows? I can't see how we can get a piece of that without a massive stock issuance to pay for it. So I don't really see good news there either. Maybe a buyout offer is good news but that depends on the price. I can't see anyone offering much given the current share price. Maybe some type of Exile-type deal would be good news but I'm not sure this management has the wherewithal to pull it off. They just recently proved with Exile that they have no clue about M&A.

Bottom line is we need a JV partner or an announcement on moving to Phase 2 to get this stock moving. At if it's still at 12 or 15 cents after that I probably still won't buy more but it will make me more likely to at least stick around and see what happens going forward.