ERHC Energy Inc (ERHE)

[ssc]

Seems so obvious that this is shorting by those who will be receiving shares via the, imo, soon to be announced private placement. The company needs cash and apparently this new partnership won't provide a lot of it. So, as the company has basically told everyone, more fund raising is required. Right now it looks like the price for that offering will be somewhere under .038 and shorting those new shares anywhere over .04 locks in at least a 5% profit for the placement participant(s). I know it sucks, but that is the position in which erhe finds itself. The big question is how many shares will be involved. At least so far buyers are stepping up at this level. The good news will be when Kenya approves the deal and investors can start looking forward to drilling.