I always thought that there were way too many shares outstanding for ERHC...but I also knew that if they hit elephants in the JDZ there would still be a very good rise in the sp. It seemed worth the risk at that time.
Today...while any oil find should help the sp I have not been nearly as optimistic that there would be enough to affect the sp like the past potential of the JDZ. Still...from where the sp is currently...the % gains could be nice. And a R/S would not negate any gains should ERHC find a good pool of oil.
This current crap shoot, IMHO, just doesn't have the same luster as the JDZ did. Therefore, I am a lot more cautious.
Badog
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