Replies to post #293570 on ERHC Energy Inc (ERHE)

[Krombacher]

Yes, but they don't have to get it ALL through convertible debt. Why does the world have to be static? Things change and we could have a partner...or worse comes to worse, they simply drop their Chad property like they already did with some of it.

It's not all black and white. There's more than one way to skin a cat.

Sheesh.

Krombacher

[condor1]

I get back to the concept that PN re-engaged forward progress after the dismal failure of the JDZ. He moved forward on Kenya and perhaps Chad, knowing full well that ERHE was EXTREMELY undercapitalized in moving forward. He spent ERHE 's last wad of money for rights to Kenya... and maintaining a wad for salaries.

He then moved to find money, not finding any, other than Cepsa farm in.

All the while paycheck and salary money kept flowing.

What if PN knew very well that ERHE would never really find enough money to get to the drilling finish line? That there was enough for salaries and testing ,but not enough to get to the finish line.

Then, theoritcially, he was setting the table for salaries(his,most importantly) and worrying about the finish line at a later date.

He says he's about integrity and doing right...... but c'mon, PN. This is like a bad credit borrower, overextended on his debt, borrowing from one credit card, to pay for another, until the borrower finds a job to pay for
all the debt.. all the while being charged 24-28% interest rates