ERHC Energy Inc (ERHE)

[TOB]

I guess the main communication is how will they structure any deal regarding the offering and how exactly will they proceed. that is the communication we need, not where is the block and we think it will be great going forward.

That's your opinion. IMO the prospectivity of the exploration blocks is far more important than the number of shares issued or the exact method of fund raising. ERHC always had to raise money for exploration, either selling shares or selling interest in the exploration blocks. The free ride in the JDZ was important at the time, but came at a high price in terms of the interest assigned.

If ERHC doesn't issue more shares and doesn't explore the assets, then those shares have little value. If they issue more shares, explore the blocks and find commercial oil, the shares have value. Pretty obvious. Remaining undiluted is of no benefit if it means not being able to explore for oil and forfeiting assets. Unless of course the only value is in the JDZ with its free carries. That is a risk factor certainly.

according to one of your recent posts, you thought they would be vague on the cc.

I'm just guessing of course, but as the preliminary Form14a clearly said:

Except with respect to any possible Rights Offering (defined herein) or other capital raising activity to fund the Company’s work programs, and as may be granted from time to time to the Company’s employees and/or Board of Directors, the Company currently has no plans, proposals or arrangements to issue any of the shares of Common Stock that would be authorized by the Amendments for any specific purpose, including future acquisitions and/or financings. -Formpre14

That is my clue that there may be only general outlines, as they clearly state "the company currently has no plans, proposals or arrangements".

We could get some more detail about the possible Rights Offering portion as that is obviously being contemplated. Whether this is at the conference call, the shareholders meeting, or both, or not until the vote is concluded I can't predict.