Replies to post #257239 on ERHC Energy Inc (ERHE)

[petemantx]

Would appreciate hearing what were the main points of contention that turned you off at the ERHC meeting.

TIA

[Krombacher]

Thank you, sensible post. All of the stuff (other than the JDZ) that ERHC calls "assets" like Chad, EEZ, etc., seem to be far into the future and ERHC needs funds which it currently does not seem to have in order to survive until then. Where will it get those funds?

They can have all the rights in the world to drill on the moon and on mars, with free carry even, and while Peter Ntephe might call that an accomplishment, if they don't have the cash to survive until then, it equals ZERO.

If they get rights to property which can be more immediately revenue producing then I will be the first to stand up and applaud. Maybe in Kenya they can get that...I don't know.

If the letters closing the investigation on them will facilitate them getting a deal which is instantly revenue producing, then those letters are indeed good news.

"Keeping it real" though is a good motto, in my opinion.

But as always, the above is my opinion and may be wrong or inaccurate.

Krombacher

[midtieroil]

Yeah the latest ridiculous statement is they are not worried about running out of money. Maybe they aren't but every realistic shareholder, every potential JV partner and every potential investor IS worried about it. These guys really have no clue. ERHC has no money to drill any wells, no money to do any seismic, no money to purchase any producing properties and after they pay Chad, they will have about a year of cash flow left before they turn out the lights.

They have little to no access to the capital markets and I seriously doubt their ability to raise capital by issuing even more stock at this share price. The only real hope is that a JV parthner will come through and that is far from a certainty. I guess Offor's bud's could do a cash infusion and dilute the hell out of the minority shareholders. Maybe that is why Ntephe isn't worried.

Why should anyone be worried? The path forward is so crystal clear.

[Homeport]

I've followed your posting for a long time, STC. Would appreciate your expanding on your SHM turnoff.

Good day,
HP

[BuffaloTrader]

I appreciate that you went to the meeting. Did you ask questions? It doesn't sound from the reports of those at the meeting that critics spoke up and I can't figure that out. IMO, comparing ERHE (market cap $66 million) to CIE (market cap $10.5 billion) is like comparing a raisin to a grapefruit. CIE is 200x bigger than ERHE. Of course they have greater resources with which to do everything imaginable. Not having been at either AGM, I won't speak to the rooms or content, but I think it is safe to say that the company that is 200x bigger would indeed have deeper expertise and a more experienced team. They pay for it - their CEO makes north of $3 million/year.