Just to bring a dose of reality to the conversation about ERHC all we need to do is look at Africa Oil. They have drilled multiple wells in multiple blocks with multiple discoveries and have multiple more exploration and production wells on the horizon. And they are drilling even more wells monthly as we speak. They probably have 5 times or more acreage than ERHC does in Kenya too. I'm not sure what their proven is at this point, but it must be getting up there. And yet their market cap is under $750 million.
That would equate to far less than $1 per share for ERHC. Yet some seem to think ERHC should command that much in share price or more right now despite being light years behind Africa oil in everything. ERHC has one partially funded well in one block in a virgin basin with no discoveries. It is fine to be optimistic as long as it is tempered with a bit of reality. I think wild prognostications and unrealistic expectations have seriously hurt this stock in the past and I see it happening again. I see a lot of complaints about excess negativity. Unfortunately negativity seems a lot more like reality to me.
They are still here after 20 years and it only takes one time for good news to come out and move this, isn't that why we are here and investing in this speculation, read Farrels post, there is a good possibility of news on 3-4 fronts that could move this in a hurry dispite the negative that is also happening, certainly you must see that! That's the big gamble here and could pay off handsomely for us and that's why I'm gambling and buying up shares at these prices
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