I would love to see ERHC release a similar statement about the DOJ investigation into its activities.
The Government of Nigeria investigates Addax's acquisition of OPL291, Addax defends itself, as it should.
U.S. investigates ERHC's acquisition of JDZ blocks, ERHC lays quiet like road kill letting the market assume the worst.
Here's the kicker, the entity investigating Addax has the authority to take OPL291 away, that tiger has teeth. The entity investigating ERHC can't do sheet to affect the rights awarded to ERHC, it's a toothless tiger.
Still, the company lets its shareholders suffer, hanging in limboland.
It's bullSHEET I say. We have the right to DEMAND that they defend against the DOJ, even it that defense is simply a public denial of wrongdoing.
ERHC management is so scared that they might make a mistake that they are listening to their legal reps to a fault. There is risk in every decision in business, deal with it. The legal beagles will guide you down a path involving least risk, but at the cost of running a successful business. It's time to grow up.
I think I can get off my soap box now. The company's position is one that they refuse to plea bargain and put this behind them because they feel they've committed no crime. With that stance it's long past time for them to quit ACTING guilty and come out swinging against the DOJ, just LIKE ADDAX HAS DONE AGAINST NIGERIA.
If Addax can fight a fully toothed tiger, surely ERHC can slap the bag of gums yapping at it around a little.
"You gotta punch a bully in the eye" comes to mind.
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