Well we must not forget that there was a gag order
If that judge's gag order on any deal with Total wasn't there and shareholders could discover that we did have some interest in the EEZ after all, even as some were saying there was no interest... ... then all that dilution would've been more palatable to shareholders and more would've bought more shares to offset the dilution that occurred.
So it's not really erhc's fault for that particular instance.