Replies to post #314900 on ERHC Energy Inc (ERHE)

[ssc]

Care to share your thoughts on:

1) Where ERHC gets the cash to pay its share of drilling so shareholders will still be in the game if/when oil is found?

2) How many shares will be outstanding if/when oil is fount?

[midtieroil]

I can think of a lot of reasons NGAR may have been set up, but setting it up to invest ERHC profits that haven't occurred is not one of them. And traces of oil from one well will not generate a single bbl of reserves. It will take 4 or 5 wells just to determine commerciality. If you don't believe that, see how long it took Tullow to declare their discovery commercial.

[emdyal]

Your "buyout at first oil show" scenario would appear to be contraindicated by the obvious efforts to supress the share price !

Of course there is always the possibility that the convertible debt holders are making the effort profitable by having any information buried !

IMO, NGAR was set up for, and will be funded by, Ntephe and Odobulu's profits from the sale of ERHC Energy. As soon as the logs show traces of oil during this drill this company will be sold.

"Sold at the lowest possible price" ????

OFC there is always the possibility of payment on the side having been arranged !!!