Replies to post #86691 on ERHC Energy Inc (ERHE)

[rocky822]

Badog, the theory behind why he would be selling any shares now is that he needs the cash. I believe there's some fee(s) due for the recent Addax, Starcrest deal.

Also, it has been suggested that he needs cash to fund political contributions for the upcoming elections. Apparently, this is a "prerequisite" for maintaining power and receiving political favors in the future in Nigeria.

There has also been discussion about the powerful folks he may be "fronting" for becoming impatient with the current pps. They may have a need for cash as terms are ending, etc. and may be pressuring Offor for some cash and/or increase in pps.

These are suggested motivations which, imo, are conceivable. The $3 - $6 range for buyin/buyout scenarios are not. But, hey, hope I'm wrong.

[balance_builder]

Badog...agreed that the sp isn't reflecting any near term action. On the other hand, a deal with countries like India/China would significantly reduce the chance of insider information being released IMHO. When the deals (or rather, if the deals) are inked, the sp will quickly respond.

It has always been my thought that SEO was dressing ERHC for a sale of some sort. Be it a buyin or buyout, he put ERHC in a pretty dress and placed her on the dance floor. To date, this company hasn't acted like a company wanting to become a real E & P. I think its a flip....to the highest bidder. For what purpose??? $$$$$$.

If its a buy-in by WB and MPE...I would guess your $3 figure to be too high.

For a significant increase in price, big money will have to arrive. In order for big money to be willing to come in, I would think they would prefer the company not be run be predominantly controlled by a single shareholder....especially a Nigerian.

Why now? Because the price goes up considerably following drilling and discoveries. Along with drilling comes risk and that is why SEO will take some off the table.....or even all off if the price is right IMHO.