just because a company is small doesn't mean they can't get something accomplished. cie did an ipo just a few years ago around $12, it dipped in the recession to around 7-8, since then , it has $35, about that time whenit recovered, erhc was .50-.70, gone completely in the toilet. the point is , when you have good management who can exploit the assets, then you have a company. Professional management.
I hope nobody took the feedback from the AGM to mean that everything was all roses for the future of ERHC. We obviously have a severe cash crunch and right now there is no apparent source to increase our funds. The AGM didn't really address where the funds would come from but showed mgt hoped to be able to raise it (within a year or two) via partnerships, sale of assets, etc. Everybody knows the JDZ is really hoping for a pop from Blk 1 drilling and if it goes sour we are in a very poor situation.
But just as all is not roses I don't think all is gloom and doom as is being portrayed by some.
We are still in a holding pattern; hope we are reaching for the golden ring and not a hand to pull us out of the quicksand.
I think many naysayers of ERHC make valid points but I am at the point where I have heard it all and enough is enough. Will put some on temporary ignore just so I don't have to listen to the continual onslaught of dire predictions.
Fact of the matter is CIE DID NOT have more resources than ERHC when they started out. CIE was incorporated in 2009. The managment of CIE built their company from the ground up while management of ERHC was twiddling their thumbs,squandering cash and pretending to be an oil company. CIE is just another of example of what ERHC could have been had it been properly managed. CIE has accomplished far more in 3 years than ERHC has in 10 years despite the fact they actually started with FAR less.
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