I have never seen anybody who has been deceived and hoodwinked by ERHC so many times who continues to believe every word ERHC utters even when their statements are obviously designed to be indefinite and vague.
Where do you see anything in this update that says they are "on schedule" and "on time"? Where is anything that says drilling will begin in March? I read this:
Where did they "affirm ON TIME"?
It is good news that work is continuing toward drilling. It will be interesting to learn why the 10-Q is not ON TIME.
Even more interesting is this:
The 10-Q should give a better idea of how much cash they still have and whether or not more dilutive fund raising will be necessary to meet their "25 percent of its proportionate share of the costs of well".
With toxic conversion price now as low as 3 cents, any additional financing could send the outstanding share count much higher.