ERHC Energy Inc (ERHE)

[DegenerateGambler]

Krom, you may be right, the 500,000 bidder could be a short. Even if he is, he would be smart to raise his bid BEFORE the LOI news breaks. This AM the SP hit 8 cents with fair volume. IMO those that want shares will need to pay at least 7.9 cents, so the big bidder may have to come to his senses whether he is unloading his short position or a true long and pay the ~8 cent price to get those shares. It appears no one (especially large block holders) are selling for under 7.9 cents. As the clock ticks and we get closer and closer to an announcement, I do NOT see the SP getting lower. I only see buying pressure pushing up the SP. Time will tell.