ERHC Energy Inc (ERHE)

[tryoty]

Where in the world do you get the idea there are going to be private placements of shares intermittantly.

From the press releases. LOL!

Under the shelf registration statement, when declared effective by the SEC, the Company may offer and sell from time to time in the future in one or more public offerings up to $50 million of its preferred stock, common stock and warrants, or units consisting of any combination thereof.

http://erhc.com/news/erhc-energy-inc-files-shelf-registration-statement-to-raise-50-million/


The first placement was for 10M shares and raised $1.8M. That's intermittently. They haven't raised fund since because the share price is too low, Ntephe's words. I could be wrong, but I don't see them going big early on unless it is a buyin scenario to reduce Offor's control and make the company more attractive to institutions, facilitating additional fund raising at considerably higher levels. Throw in a phase II announcement or a JV partner in Sao Tome and this won't hurt near as bad as many fear.

Admittedly, we need a couple things to go our way.