The only arguments I will make is that the chances of finding oil are low and that is 100% true and accurate even if some refuse to believe it. 25% or less. Look it up. I will also argue that significant more dilution in the form of asset sales and more stock issuances before and during drilling are almost certain even if some also chose not to believe that either. And finally I will argue that this could be ERHCs last well if this is a dry hole because they will have no money left.
All stark truths. None should be ignored. If ERHC hits oil on this next well we all should make money. If they don't it could be sayonara.
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