Replies to post #40997 on ERHC Energy Inc (ERHE)

[NY__Minute]

Bye Oilman57. Thanks for your contributions.

[maestro224]

Leverage what assets?

The only assets we have are some unproven oil and gas properties. I want to see someone walk into a bank and try to borrow money using that for collateral. Of course we could sell some of our existing unproven assets to someone else for cash but I think that would be pretty stupid with all of the alleged oil down there. By the way, we already did that. That is how we got the cash we have now.

Some of you people have no business sense whatsoever. There is no money for acquistions. PERIOD. Maybe we need Mongo back to tell us what the cash burn rate will be for the next 5 years while we are waiting for our first revenue stream.

And as far as BOD members go, I couldn't care less. They are all just rubber stamps for management's whims anyway. Few good people are willing to serve on boards anymore because of the potential liability even with the protection of D&O insurance. I do know of three good candidates though. Mickey Mouse, Goofy and Donald Duck. They ought to fit right in with the cronieism and level of competence that exists in most boardrooms today.

[kobiashi2000]

I realize you're being facetious, but unlike CVX, Addax can't sit on the blk for 4 years with no production. I expect production on blk 4 within 2 years if not sooner. Addax has a track record within offshore Nigeria of 15 months to first oil from time of license granted to 8 months of producing oil from the day of discovery. I have also read that in the deep offshore companies such as Petrobras have been able to produce first oil in as soon as 18 months from time of license, and this was done many years ago. The technology has only improved, and Addax is hungry and needs production asap. I'm not sure about 2, but I'm sure that the JDA allowed ERHC to bring in a new partner because Sinopec promised a fast track to production, it is also notable that Sino and Petrobras have a partnership in place to work together on deep offshore drilling. So, while it might be 2010 for blk 1 because CVX doesn't need to rush to production because they have 100s of simultaneous projects around the world in which they need to spend resources on and can't devote it all to just blk 1, that is not the case for blk 4 in which Addax can devote the majority of its resources too, and I expect blk 4 within 2 years and probably 2 as well. With 3, I have no idea because we are at the mercy of Anadarko for exploration on that block.

[Iceking]

Are you bi-polar? If I remember correctly, you were one of those who attacked Meridian for predicting a mid-range level sp for ERHE. Have you changed your opinion and predict an even lower than $2 sp until oil flows? How do you come up with this speculation? Please provide data, examples, or any shred of evidence? Remeber, though, that stocks are traded based on future expected value, not current income/profit alone.