ERHC Energy Inc (ERHE)

[cash2blow]

Another 10K tibit concerning the massive 'dilution' theory put out there by a few ...

"It is expected that a minimum of $2,500,000 will need to be raised to fund working capital requirements in fiscal 2006. However, there is no assurance that such financing will be obtained.

The Company presently intends to utilize any available sources of funds to provide for general corporate overhead and to continue to pursue its interests in the JDZ and EEZ. If the Company is successful in negotiating production-sharing agreements in Blocks 2, 3 and 4, The Company expects to receive funding from its partners that will support its operations in those blocks."

I'm thinking ERHE does not want to float shares at this moment with the the dismal price of the stock - everything seems to hinge on getting those PSCs signed ... seem to like our chances

Also odd that there was no mention of Blocks 5 and 6, wonder why? Management may be looking to sell off their interest in those blocks .... or are not too excited about their prospects.