Replies to post #7576 on ERHC Energy Inc (ERHE)

[Nodak]

Nobody always hits oil! I would imagine that the 9 billion barrels of proven reserves are either a misread or a typo. If indeed they have that much then they would indeed be worth much more than they were valued at.

Where did you read about their reserves?

Nodak

[oilman57]

OT: EGY is light when it comes to reserves. But it is pumping plenty of oil and has $40 million in cash. It has a stellar balance sheet, $71 million in revenues with a market cap of only $200 million

TGA by comparison is light in reserves also. But that hasnt hurt its share price. TGA has a $400 million market cap on only $40 million in revenues. TGA has more properties than EGY though.

EGY had some dilution from March that it is still working through from the sale of a fund. Once those shares are churned through and the manipulation ends and a new well is announced then the stock should climb to where it should be. Someone keeps dumping shares on the ask to supress an upward climb in price. Its pretty blatant.

Much like what happened to ERHC on awards day when someone was dumping shares on the ask. ERHC will be priced on reserves as opposed to the balance sheet. Whereas the two stocks above will be priced the opposite imo.