Replies to post #246118 on ERHC Energy Inc (ERHE)

[Krombacher]

You are wrong. The marginal properties was announced around Nov. 2009:

http://www.erhc.com/en/art/114/

people were discussing buying marginal properties long before that in 2008.

Here's a comment from midtier oil telling another poster that it would be bad for them to invest in marginal properties in Louisiana a full year before ERHC announced any marginal properties:

There are a couple hundred companies on the NYSE that are doing stock buybacks. I don't really see it as a sign of inept management.

You say you want them to aquire undervalued assets in the oil and gas industry. Buying their own stock would be doing exactly that. If they could find a better oil and gas company or properties with a higher potential for appreciation than ERHE that they could pick up for about $5 million, I'd tell them to go right ahead and do it. I just don't think it exists. For that amount you might be able to pick up a marginal field in Louisiana or Texas but not much else. Nothing offshore for certain and then we'd have to hire staff to operate it. I just think ERHE stock is the best thing ERHE can invest in right now but it's certainly not the only path available.

By the way, I agree $10 million is too much to use for a buyback. $5 million would be OK though.

post #147298

Krombacher - the above may be wrong

[Julius Erving]

Some keep forgetting that these CLOWNS (i'm only kidding!) have a-d-v-i-s-o-r-s !

And they told them what to do.

[Krombacher]

In fact, the first discussion about marginal fields started on I-hub around July 4, 2005:

Paradigm software helps increase the profitability of marginal fields

Mr. Ben Umoren, Assistant Director, Drilling and Production at the Department of Petroleum Resources (DPR), speaking on behalf of the DPR Director, Mr. Mac Ofurhie, urged marginal field operators in the country to develop technologies that will enhance field development to make it more economically viable. "Paradigm has taken a giant step in producing sophisticated software to tackle the challenges of oil fields", said Mr. Umoren. "Progress in the marginal fields will create jobs for future generations of geoscientists, enhance their technological skills, and increase the country's barrels of oil production per day. These marginal fields were not operated in the past because it was not economically and financially profitable to do so. But advancements in technology are increasing the profitability of these fields, and Paradigm is in the forefront of this technology."

post # 7369

That's right, not even 10,000 posts in, you guys were talking about this, long before ERHC started talking about marginal fields.

Krombacher - the above may be wrong