ERHC Energy Inc (ERHE)

[TOB]

Please provide proof of this as a result of ERHC's JDZ wells:

Non-commercial quantities of gas are worthless.

The operator has not released through ERHC a comment on whether the gas discoveries were commercial or not. In fact, Sinopec on their website called the Bomu-1 well commercial.

To make an accurate determination, appraisal wells and additional testing would be required. This is oil and gas exploration 101.

And biogenic gas is NOT indicative of oil in our blocks either.

Of course it is not. Biogenic gas has no association with thermogenic hydrocarbons, unless there is a combination of both.

I don't care if the wells were tight-holed or not.

Right, they were only tight holed for a few months which is standard when the results were disappointing. I'm happy it is now settled.

The reality of the siutation is the results stunk, the value of the JDZ, the EEZ and ERHC stock have plummetted and it is unlikely that the original estimates of oil potential will ever come up to the amount originally hoped for in the JDZ.

Yes, the lack of oil discoveries in the first 5 JDZ wells caused the share price to plummet, not management. Good this is now cleared up.

Cash or full carries are mandatory to stay afloat and continue exploration

I disagree. ERHC can raise money through monetizing their assets, they have already identified this as Plan A.

ERHC could also raise money with an IPO on the AIM or another international exchange. Now that the SEC and DOJ actions are closed with full clearance, this has a far greater chance of success.

They could also raise money through issuing shares, if and when the share price is significantly higher. I believe it is highly undervalued at the present time.

Otherwise, ERHC's financial situation is stable, with about $10 million in cash or cash equivalents, virtually no debt, and rights to potentially valuable assets.