ERHC Energy Inc (ERHE)

[midtieroil]

Yeah the latest ridiculous statement is they are not worried about running out of money. Maybe they aren't but every realistic shareholder, every potential JV partner and every potential investor IS worried about it. These guys really have no clue. ERHC has no money to drill any wells, no money to do any seismic, no money to purchase any producing properties and after they pay Chad, they will have about a year of cash flow left before they turn out the lights.

They have little to no access to the capital markets and I seriously doubt their ability to raise capital by issuing even more stock at this share price. The only real hope is that a JV parthner will come through and that is far from a certainty. I guess Offor's bud's could do a cash infusion and dilute the hell out of the minority shareholders. Maybe that is why Ntephe isn't worried.

Why should anyone be worried? The path forward is so crystal clear.