This just posted and worthy of consideration from "Sneak" who also has been a shareholder for many years. This company is so much more than a "penny stock"...most here are enthusiastic about the future of ERHE. Consider the politics and background of Management (in spite of the thrashing taken here) and geology, plus their survival in a long downturn of worldwide crude oil prices. Almost all shares are held by longtime and faithful supporters and the likelihood of anyone sweeping in thinking they can make a big flip could be in for a rude awakening....Of course willing investors who want to pay a more reasonable, mush much higher price can find available willing sellers (I'm not) mho.
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"I am sure there is more than a few oil companies that would jump at the chance to relieve ERHE of it Hydrocarbon Properties for 300k.
However, SEO and his Nigerian Friends would like a number much higher than 300k and so would us ERHE Long Shareholders.
ERHE will not be filing for Bankruptcy as SEO and his Nigerian Friends would lose Control of those Hydrocarbon Properties to the Court System and that is not a viable option.
I am looking for a business model much like the one that Addax operated under back in the day where Starcrest, Eland Oil and ERHE form a joint operating and revenue share model to exploit Marginal Hydrocarbon Properties with in Nigeria and other opportunities that may arise from a joint venture. "
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