Ntephe did not have anything to do with securing the the JDZ, the EEZ or drilling the first 5 wells. He has spent the last 6 years blowing through cash, destroying the share price and diluting the hell of ex!isting shareholders. Legacy shareholders have been destroyed and the kicker is the miniscule value of what is left has not been worth selling since they drilled 5 dry holes primarily because ERHC picked a technoligically challenged company to drill in the JDZ who couldn't find oil. The EEZ was a no brainer and Ntephe couldn't even find a partner through years of great oil prices. That is pathetic.
And if this one well with a less than a 20% chance of success does not hit, all the shareholders that thought buying delusion insurance was a can't miss opportunity will get destroyed too. Maybe some still think that is a great job by great management. I and the market know better.
Excuses for Ntephe's failed tenure as CEO are getting old. Most see his shortcomings clearly but a very few are still clinging to a slim hope of still finding oil and are still offering excuses for his dismal performance. Sorry if I am one that will not do that. I prefer the truth.
News 
Market Data 
Discover 
