Replies to post #325040 on ERHC Energy Inc (ERHE)

[ferab]

Difficult to see that or is that 'fake news'? Pretty hard to value erhe at that amount when we are not even sure if we have a CEO - where is what's his name? PN ?

[midtieroil]

I did put a pencil to paper and ERHC's liabilities exceed their assets by a wide margin. You see, not a drop of commercial oil has ever been pumped from any of ERHC's assets because they have drilled 6 consecutive dry holes. To make matters worse the Chad blocks have been vaporized. The Kenya block is in jeopardy because ERHC owes 10 million from the last well, their exploration period has been expired and no extension has been granted. Has that been vaporized too? ERHC'S last block in the EEZ is in arbitration and it may be vaporized too. Not to mention that the IRS has placed a lien on ERHC's assets because they owe the IRS $2.7 million.

So what's left after all that? Not much. Hence the .0002 share price.