Replies to post #301241 on ERHC Energy Inc (ERHE)

[Strategyone]

Great point manuel.

Sometimes we forget what was going on over a number of years in the past.

One other point I think many gloss over or ignore is the fact that once ERHE got the $50 million from Addax, their focus was on the partners looking for the elusive 18 billion barrels of oil that was supposedly somewhere in the JDZ. They had multiple more blocks with rights to that they had hoped to find a partner for and retain a higher percent by using some of their own ($50 million) cash to fund their share. We all thought this was a great idea at that time and I didn't hear anyone saying they must go buy onshore properties at that time. Yet some here now think they should have known that no oil was going to be found in the 5 holes drilled in 3 different blocks and therefore should have been looking for other assets.

[tryoty]

"We expect that some of the challenges of selling the ERHC proposition to the larger investment community might now be significantly lessened without the cloud of suspicion raised by the subpoenas".

*I* expect that Ntephe's decision to use convertible debt, calling it "quick and attractive", and then ordering the Transfer Agent to conceal the changes to the company's share structure has introduced far, far more challenges than the DOJ ever did.

He has single handedly obliterate the company while the BOD watched and did nothing.

We've been prepped on the company's website for a 1 for 500 reverse. Grab your ankles and call your lawyers, he's destroying it on purpose.

[condor1]

Manuel, I expect that none of us are knowledgeable of the amount of money spent on the attorney fees in defense of ERHE. Nor are we knowledgeable as to the amount spent for the failed attempts of the AIM initiative.

That being stated, none of us were knowledgeable of the highly increased costs of drilling offshore vs onshore.

But with all these components in mind, ERHE had $50 million in hand. PN goofed by placing the $5Million money in Stanford, and we don't know why he picked Stanford,, ie MUCH better interest rate or ???? But treasury notes are guaranteed by the Govt. at whatever amount. Banks insure a mere $100K.

With all of these considered.... $50 million less these concerns add up to what?? $12-15 million??? A couple million for Kenya and Chad?

And where is the remaining $30 million...??? Paychecks, Oando, and conferences...mostly paychecks less than a mil for Oando, and a million or less for Conferences?

$30 million for paychecks??? And none for investment in on shore assets???


Is that the decision making we would have wanted in the CEO using our money?

As I previously stated, I am a successful businessman because I make the most use of my money, strategically re-investing, while seeking every opportunity to keep cost low, limit spending wherever possible. That is precisely why I am very successful.

As I said before, though I know very little about the oil exploration business, I could ,far better, run this company than PN.I created a successful and opearting business with my own money.

PN has operated a failing business, making imprudent decisions repeatedly, even compounding his erroneous decisions, while using other people's money, our money, not his own. His investment of ERHE is created by shareholder money, his salary, not his own money.

And further, if I don't know something,such as onshore vs offshore, or PN doesn't know about CDs, only that it is a source of money from loan sharks, I would consult someone in the know, for $500 , not lose hundreds of thousands of dollars of shareholder money.

People here look at only the positive perspective, not at the alternatives to positive.