Replies to post #198209 on ERHC Energy Inc (ERHE)

[rayank]

"Still enough "cash" to last 5 1/2 years at the current burn rate."
That quote is good, and if we acquire that those income producing "marginal fields", (is that what they are called?), we will be better off regarding cash on hand, or better yet if we get bought out before the 5 1/2 years we are better off still.
:-)

[midtieroil]

The 10Q is NOT a nonevent. Who puts $21 million dollars in a non-interest bearing account. Unbelievable. They could at least go buy T-bills and ladder those with differing maturities, have 100% safety and earn something. I absolutely can not believe anyone would do that. If this does not prove this management team is not competent, what does? First they lose 5 million in a ponzi scheme that I NEVER would have invested in. Now they overreact and put their money in a non-interest bearing account. Did anyone get fired for losing 5 million dollars? NO. Could you work at any other company and foolishly lose 5 million dollars and not get fired? NO. Does anyone really trust them to go out and have the business sense to buy properties in one of the most difficult regions in the world, because I don't. They have no oil and gas experience and they have no finance experience. We don't need an attorney for a CEO. We need someone that knows something about running a business, an oil gas business.

So the issue is not one of if we have the enough cash to last and how long. The issue is do we have the best management team possible for the money we are paying them and will they make rational business decisions going forward. I know how I would answer that question. How would you answer it?