Replies to post #236418 on ERHC Energy Inc (ERHE)

[deadeyeca]

I'd gladly trade some near worthless stock for proven reserves on the balance sheet and revenues on the income statement. It would validate the whole company. Finally.


Deadeye

[tryoty]

I disagree with "look out below". I am not against dilution if it produces an asset greater in value than the dilution. What I *am* against is Ntephe's nebulous "we need to raise capital for aquisitions" and then mindlessly p|ssing away 10M shares plus warrants for a useless pittance that can't buy a drill bit let alone any meaningful property. If I want a loan from the bank I need to tell them what it's for. Given Ntephe's sad track record I expect no less from him if he is going to ask us for more money.

If he wants $50M to buy a property worth $100M I am all for it, but he hasn't sold it to shareholders that way. He want's a blank check without telling us what it's for... I assume to fund his jet setting around the world and not acquisitions.