Badog,
It seems you’re misquoting the CEO. He never claimed that the Kenya drilling operation was an outright success. In fact, he was very clear that while it wasn’t commercially successful, it was a "technical success" because it provided valuable data, stayed within budget, and continues to be analyzed. This kind of misrepresentation shows that you may not have listened carefully to the CEO’s interview with the Ugandan minister, or perhaps you're selectively interpreting the information to fit your narrative.
It's also interesting that just as ERHC is moving toward potentially finalizing key dealings with a major company like Shell, short sellers have begun loudly denying any involvement. Your statement fits perfectly into the narrative of someone wanting to discourage long-term investors from holding onto their positions for just a few more days, waiting for settlement (T+3). It’s almost too convenient, wouldn’t you agree?
You claim there’s no evidence of massive short positions, but the lack of transparency around short positions is part of the problem. Just because something isn't publicized doesn't mean it isn’t happening. We’ve seen manipulation in the stock market before, and silence on short positions is not an indication of honesty or integrity.
As for the Shell deal, it’s especially exciting because it’s in the highly prolific EEZ near São Tomé and Príncipe, an area with tremendous oil potential. Shell is a global leader with extensive resources and expertise, and their involvement signals confidence in ERHC’s concessions. These types of negotiations take time, and while the stock price reflects current uncertainties, long-term investors know that substantial rewards come with patience.
Regarding the company’s communication, you should consider that ERHC could be under a gag order or bound by confidentiality agreements related to ongoing negotiations. It’s also possible they are in a quiet period before a major deal announcement, which would legally limit their ability to communicate with shareholders. In sensitive, high-stakes negotiations like the one with Shell, keeping quiet is often part of ensuring the deal proceeds smoothly. This isn't unusual in the oil and gas industry, especially with smaller players negotiating with global giants.
Lastly, the claim that the stock price is “the constant truth” is overly simplistic. Stock prices, particularly in de-listed or over-the-counter markets, can easily be subject to manipulation, particularly by short sellers or groups with ulterior motives. The current price reflects short-term market conditions, not the intrinsic value of ERHC’s assets or their potential as negotiations with major oil companies move toward resolution.
Instead of focusing on scare tactics and distorting facts, I encourage others to consider the broader context and the potential of these deals. The market has seen many companies that faced initial challenges but rebounded with key partnerships or discoveries. The Shell deal could be a pivotal moment for ERHC, and it's no coincidence that we’re seeing heightened activity from those who may stand to benefit from short-term volatility.
Krombacher
Market Data 
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