Replies to post #119603 on ERHC Energy Inc (ERHE)

[Spec29]

Acquisitions are cost prohibitive because...

ERHC doesn't have the income or cash flow to support a credit facility. The company has already said they were having trouble hiring a CEO because of the investigations by the feds.

Get the JDZ on track and the horizon opens up pretty broad. We'll have the money to pay any fine and hire any employee we need.

Management definitely understands.

[bsk2007]

Hey Fishdog - Sorry for the late response. I'm just now going through my mailbox trying to catch up.

First of all I want to sincerely thank you for the very nice compliment of inviting me to lunch. It was very kind of you to offer to buy lunch for someone you have never met. Unfortunately I live in Europe and will until sometime in 2010. I get to the States some but I split my time mainly between Aspen and San Diego. Thank you very much for asking.

My opinions of this company haven't changed much since March. Early on my hope was that ERHC would morph into a real E&P because that is how we would make the most money. My guess back then was ERHC's asking price could get up to $15 billion which would equate to about $20.

Now I have no such visions of grand(ur). When the time is right SEO will put lipstick on this pig and sell it for about $5 billion. Not a bad return on an initial investment of what, $6 million or so. I think SEO will get his asking price because he knows whoever buys Addax isn't going to want to split even a sliver of oil with anyone else.

Now if SEO plays hardball and waits until the STPEEZ is explored, the price depending on the price of oil, could climb to say $8 billion or so.

I don't think he waits but that's just my opinion.

If SEO had any plans for this company to grow we would have had plenty of hints by now. We would have gotten at least a glimpse of the business plan. Instead we have no business plan, no real officers of the company, ambiguous at best updates from the company.

Mr. Ledbetter has had enough time to find about 20 companies by now.

Mr. Bovell has had enough time to merge Exxon and Mobil together.

I really really wish the presentations would go away, especially in Dubai. Why would someone in a $10,000 suit who just spent $400 on a hair cut, listen to someone who looks like he's wearing the clothes he slept in the night before? If SEO is looking for a suitor in Dubai he needs to go himself, or at least send a BOD member to represent the company.

I think the lady from the white board picture would do a fine job if given the chance.

Your invite does mean a lot to me, it put a real smile on my face.

bsk