Replies to post #293236 on ERHC Energy Inc (ERHE)

[DegenerateGambler]

Yes, the money was raised to pay for the survey. ERHC did not want to use the cash on hand so they could continue to get paid. Your statement that ERHC has "plenty" of cash to meet day to day operations made me chuckle, because ERHC does not have enough cash to cover next years expenses. So, saying plenty of cash is a joke. Most here realize, with no cash coming in ERHC is running out of cash very quickly and now needs to beg for loans at exorbitant rates and costs. This is what is casing the share price to drop and drop and now be in the 2s. Every company needs money to run on and now ERHC's money is running out very quickly. It is way overdue for ERHC to implement austerity measures. Everyone should write to ERHC to demand these austerity measures start NOW.

[Julius Erving]

The bulk of that fundraising was to pay for the airborne magnetic survey in Chad.

I believe you are right. Can't remember where I read that, but it is very comforting that you remind me...

I think ERHC has plenty of cash to meet day to day operations

[Julius Erving]

Kobiashi2000,

I should have replied my previous post to your post.

You were right.

And we will hear from CEPSA way within those 12 months. I think even the Chad buy-in will land within this period.

So now we know why Peter is on a conference again. :)

The Doc.