Replies to post #295174 on ERHC Energy Inc (ERHE)

[snayeman]

I agree management will not buy any substantial amount of shares! Jmo

[Julius Erving]

"This is a very bad sign and it should follow that SEO knows that the company is in dire straights."

You seem to mix up certain things. Yes, the company is in dire financial straights. But Offor's participation would solve those dire straights...

You seem to claim that he does not fund anymore because of these dire straights in general, and that does not make sense.

He will be hurt more than us by the financial problems, so not doing anything about it, while he can, does also not make sense. Whether it seems to be a reality at this time, that he is not doing anything, we must wait for proof of that.

The fact that the real management is a favorite to buy stock is only because the management wants to make a token act to show they believe in the company, when in reality they will only buy a small amount (under $10,000 worth).

Here we must also wait how high the contribution is, that insiders are willing to put into the company.

I asked the board before, not getting an answer: is it possible that we get a 'going concern' warning soon, while the CEO currently is claiming that the current valuation of ERHC presents a fabulous opportunity for savvy investors to get access to ERHC's rich portfolio of licenses, and that this is the 'undervaluation' of a company in the classic sense.

Wouldn't that be a class action lawsuite in the classic sense?

(...)so this plan was put into place to help the share price so funding could be obtained more easily.

So, in this scenario it is assumed that SEO gave up on the company, and he is willing to let Peter try to draw his salary for as long as possible.

It does sound a bit 'harsh', but in theory it could be true... IF it weren't for the fact that neither our management team and board, nor SEO knows what drilling by CEPSA will result in.

Now, your scenario could still be true if currently is already known that CEPSA will not drill, or do 3D seismic.

Then we would be in a whole different scenario, and in even deeper sjit. But... CEPSA agreed upon spending $30.000.000,- in the second phase, so... even this scenario is highly unlikely. Not in the least because CEPSA made that decision based upon very thorough technical analysis, because they moved away from block 12B due to the, according to them, insufficient amount of information justifying drilling.

Also last but certainly not least: wouldn't this scenario result in jailtime for Peter and the rest of management? Extremely misleading information would be an understatement in this case...imo

The Doc.