So let's look at what erhc has done.
They have gone out and said they will do a rights offering with no investment banker ahead of time to handle the matter. in talks, ok, always in talks.
they have obligated erhc for 40 million in Chad not even knowing if they could raise the funds. one year ago, they obligate and just now are getting around to figuring out how to raise money.
So Peter and sylvan traveled to kenya so many times, they finally secured the block, no way would a country let them have the block without knowing they can fund it. it is not enough to say we will raise it later,, more to this story and they are not telling the shareholder's.
No aim? no surprise, can't be done and a few of us knew it. I sent many letters to this company and to Dan asking them why they were wasting money they should not have spent on this endeavor. dan's response, we are going to the aim whether your friends and you like it or not, my response, no your not. didn't they just say blair would try to help the company at the meeting, now in an article, no aim ever.
this share raise smells of the aim try, what happens if the investment banker's say not gonna happen, do they have a strategic partner as they keep alluding or is that talk.
Cart before the horse, all oil companies when bidding on blocks have to prove they can pay and exploit those blocks, including banking references, experience, partners, etc. we are missing a piece of information and it is erhc's job to provide it.
they have downplayed the jdz so many times, why? If we don't do chad and Kenya, we will go bankrupt? everyone better play along or else. they have it set up pretty nice here, for everyone to start agreeing with them, but how long will it take to see a profit with this plan? years.
EEZ, still negotiating? they said by the end of the year again in the cc, so that timeframe is narrowing.
more to this story than meets the eye, or it better be, imo.
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