Replies to post #145328 on ERHC Energy Inc (ERHE)

[DegenerateGambler]

Good post mid tier, I too am VERY happy no acquisition was ever finalized. SEO our guardian angel.
Strass as well makes a lot of sense about Addax may be misunderstanding the deep water drill market. It looks like all of those rigs are still in high usage unless Petrobra starts to release its hold on all the rigs it controls. Therefore, no ROO unless that happens.

[alwright]

Count me as " HAPPY "...

[InWayTooDeep]

Midtier,

Completely agree with your comments. We are in the midst of an economic storm. The best thing mgmt can do is to hunker down and resist the temptation to wander out into it when they don't have to. First, do no harm. It will take discipline on their part to sit pat, but it is the wisest thing. ERHE currently has the financial reserves to weather this storm -if they can remain patient. Venturing out into these unknown ecomomic conditions is foolish. They/we have a sure winner as long mgmt remains focused on the prize.

I have been here for a long time; for the past few years just lurking. Disclosure: My share count in the 7 digits. Have never sold a share and continue to average down.

This has been a marathon of an investment. It reminds me of the ShawShank Redemption. If we've come this far, maybe we can go a little be further. In historic terms, drilling is not that far away, irregardless if it is '09 or '10. Our time will come as long as mgmt can just sit tight and keep their eye on the real prize and not get caught up in the temptation to do something just because our situation is frustrating. The measure of great leadership is how one handles duress. I for one, hope our leaders will handle our current situation with great poise, wisdom and discipline.

[ERHClongtimer]

Midtier, good post.

That has been my feeling all along: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33212477

I would much rather there be no deal than some deal that would put ERHC in a distressed/vulnerable state or that would dilute shareholders.

2014 for production to begin "in earnest" may seem like an eternity (and six years is a LONG time). But it would be good for all to keep in mind that it will be a much shorter period of time til reserves are proven. Proving reserves should really be the mantra of all ERHC investors (rather than deal-making). That will be when the true value of what we hold will become apparent, and then the market should price our shares accordingly. Proven reserves (assuming they are substantial) will do much more for the share price than any deal that ERHC can do with their current cash position.

I think some dot-connecting viewpoints expressed on this board are made by investors whose investment horizon is short (maybe due to financial or age constraints). I'm not faulting that, but really, it's best to recognize our investment for what it is and not build up unrealistic expectations. (But hey, that's not to say I wouldn't love to be able to cash in my investment now as much as the next guy.)

As I alluded to in my linked post above, it seems to me that if there were any deal to be made to ERHC's advantage, it would be in an area where ERHC has an inside track, an area in which it can leverage its knowledge and contacts, Nigeria. Even then it would have to be some special situation of hidden or overlooked value, given ERHC's limited resources at this point in time. - Longtimer