ERHC Energy Inc (ERHE)

[midtieroil]

Hopefully management will have enough common sense(something they seem to sorely lack) to wait for some tidbit of good news before they attempt to issue 100's of millions of new shares. At least that would minimize the dilution. Remember the original plan? Set up another company for new assets so that our interest in the JDZ and EEZ would not be diluted. Just another Ntephe plan which failed miserably and a plan I said would not work from day one.

Raising money to increase the value of the existing properties by doing seismic is something I don't have a big problem with. Raising money because Ntephe frittered away millions and we need more to pay his bloated salary is pathetic. And using the money to acquire more properties when we can't even find anyone to fund the drilling of the ones we have now seems counterproductive to me. Any money we get needs to go toward getting wells drilled somewhere NOW. It is obvious to me that ERHC cannot buy existing production. They have been trying and failing at that for a long time. Maybe someone needs to explain to Ntephe that in order to find oil you need to drill wells. He seems to not understand that. He also seems to have no clue that you need operations people to operate properties. At least he finally figured out you need exploration people to explore for oil. A very small step forward. Let's hope it isn't too little too late.

One other thing Ntephe needs to figure out and doesn't know. You need financial people to raise capital. We have no one that is qualified.