ERHC Energy Inc (ERHE)

[dbernet]

I disagree. I think he and Chrome will fully subscribe, which will give him/them at least their current percentage ownership. I also think they will pick up any shares not subscribed by other share holders. I doubt seriously that ALL stock holders will fully subscribe, and that will increase their ownership proportionally.

That said, I also believe this is the best way forward. No cash raise means little chance of new asset development by ERHE. Some carries may be in our future, but I doubt very much there will be enough excitement to provide the kind of carry we have in the JDZ.

As to whom to thank, I will thank the SEC. There are many ways in which Chrome/Offer could raise funds and increase their ownership that would not be as beneficial to shareholders. My guess is this course was chosen because it passes the smell test. Pardon my cynicism.

Offer already has effective control. After this I think there will be no doubt. I would rather he had a smaller interest, but I still think this is the best course given the cash situation and the assets acquired.

Further, I won't be subscribing. I will wait and buy in the open market if I want more. The prices are just too close to for me.

I am limited to one post a day so I won't be posting again until tomorrow at least.

Luck to all,

db