ERHC Energy Inc (ERHE)

[midtieroil]

When Peter Ntephe took over ERHC he was handed on a silver platter two, of what were considered then, the best and most prospective properties on the planet, the JDZ and EEZ, along with full carries to first oil on four deepwater wells in the JDZ and $45 million in cash to boot. I can not think of a single CEO of a junior exploration company who was EVER given more to work with than that.

And what has he done with all of this. NOTHING. If this company needs saving it is only because he almost destroyed it. Getting a few blocks in ALL of Africa when you had a decade to it, isn't being superman and it isn't even being average. Especially considering what he started with and the contacts he supposedly had. Dozens of small exploration companies have gotten as many blocks or more and they have done FAR more with them over the exact same time frame.

Whether anyone wants to admit it or not this has been an AWFUL job and everybody in the market with the exception of a few see this. And no matter what happens from here forward it will still be an AWFUL job.

I would say it has been a comedy of errors over the last decade, but, unfortunately, there is NOTHING funny about it. Sorry if I am too critical but it is ONLY because I don't believe in continuing to reward failure. And that is what ERHC has been to date.

And, by the way, the investigation excuse is getting really old. Most of these small exploration companies go through investigations. It just a part of doing business in Afrcia. The difference is most of them don't use it as an excuse for a decade. They move forward while being investigated.