ERHC Energy Inc (ERHE)

[tryoty]

In fairness, ERHC has created new subsidiaries for each oil block it owns interest in. It has always done this. If one block comes up dry, that subsidiary can fold and there are no effects on the other subs/blocks.

It's a very common practice, and very rarely announced because it isn't a material event. Say ERHC had the rights to block "Booyah" in country ABC, and transfered those rights to subsidiary XYZ, which it wholly owns. Nothing has changed. ERHC still owns the rights. It's a paper change for accounting and legal purposes, nothing more.