Management of HDY took over a nearly bankrupt company, raised hundreds of millions of dollars, got Tullow as a partner, got Blackrock as an investor, got one deep water well drilled, has another one fully funded and has enough money in the bank to make it through this rough patch without relying on highly toxic convertible debt. And they are going through an investigation now due to previous management. The oil prices are the same for them as ERHC and they have the Ebola issue to deal with to boot. And, as you say their market cap is still far higher than ERHC despite all of that.
On the other hand ERHC management took a company flush with cash, with great properties and has just about bankrupted it. It really isn't that hard to see the difference in the two managements if one cares to really look.
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