ERHC Energy Inc (ERHE)

[Gigwoof]

Incorrect Procon. There has been substantial coverage in the international press of the very UN-American way we have been treating the Chinese bid to buy Unocal for weeks, including by some major papers and news desks that have nothing to do whatsoever with China. Clearly "open markets" and free enterprise are only OK when it's not OUR market.

You are also incorrect about the Chinese "trying to build anti-American sentiment." They have absolutely no need for doing this since our own so-called leaders have done such an amazingly good job of it over the past few years. What the Chinese - and many others - are doing is merely exploit this sentiment, which is fair game.

Enormous damage has been done, one of the indirect results being that it's hard for a reasonable mind to see how the "Nigeria will provide 25% of our oil in a decade or so" mantra could now be remotely connected to reality. Big Oil has established an appalling record in Africa over the past three decades with relatively little oil being extracted in return for massive damage to the environment and the health of the locals and close to ZERO improvement to infrastructure, education, etc. Ed Daukoru's recent comments speak volumes about that.

While a man like Gandur evidently understands the issues and makes decisions accordingly (and yes, very successfully), and while I have no doubt that Offor will profit handsomely "no matter what" from these new developments, what will become of our retail investments in tiny American ERHE in this new scheme of things is anybody's guess. We have lost Devon and Noble, two aggressive, highly-capable mi-tier partners that walked away from billions of barrels of oil, and 5 days away from PSCs our stock is at 40 cents, about 1/10 of what it should be (and as a friend says, there are 700+ million reasons to be worried.)

Once again the "market" obviously knows someting we don't know.