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midtieroil

04/20/15 10:13 AM

#301306 RE: manuel06 #301305

It does not look that full to me when you look at what other companies accomplished in a similar time frame. One block in Chad and one block in Kenya. No wells drilled. No partner in the EEZ or Chad. And the biggest failure of all, inability to get adequate funding that would have prevented the need for CDs. And those were needed way before the oil price decline so let's quit pretending that was the reason these CDs were needed.

Looks more like an empty plate to me at this moment.

condor1

04/20/15 10:35 AM

#301307 RE: manuel06 #301305

$20 million for general and administrative since 2010?

When did ERHE get the $49 million? When did the DOJ begin and terminate
the investigation of ERHE?

When was Offor forced to step away?

When was the AIM initiative begun and terminated?

What administrative and general costs between 2010 and 2014 could have amounted to $20,000,000? . Since it is being stated that paychecks were about $4-5 million, what other general and administrative costs were there, ie Chad and Kenya only? What else was there? Dod the conferences cost more than one million? Is this category where the Stanford fiasco was accounted for,ie $5 million?

We should try to track exactly where the money went to evaluate exactly how well or how poor PN did his job, from a fiscal perspective.