Yeah, here you go. 6 wells drilled by partners that ERHC hand-picked in what they told us were highly prospective blocks. 6 dry holes. Maybe you attribute that only to bad luck. But with today's technology that is a pathetic result that cannot be blamed on anything but technological incompetence. Anyone that still believes there is oil in any of those blocks has to believe there was a lot of technological incompetence in failing to find it by now.
I know the never ending excuses for the pathetic performance of ERHC and their partners will continue no matter how poorly they perform. But that doesn't mean I or the rest of the market will ever believe those excuses.
And if ERHC'S technological failures aren't bad enough, we can look at their financial failures too. No revenue stream generated. The Chad debacle. The failed rights offering. The failed investment in Exile. The Stanford debacle. The highly toxic convertible debentures. The S. Texas nightmare. The bungled IRS audit. The failure to file a timely net operating loss carryback form. No full carry in Kenya. And the list goes on.
I keep asking for a list of what ERHC has done well technologically or financially. I have yet to see such a list. I doubt I ever will.
One just needs to look at the share price and the actions or lack of of this company. My goodness look at the history. I am astounded on the excuses people are making for the performance of this company.
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