Replies to post #259564 on ERHC Energy Inc (ERHE)

[emdyal]

Yes exactly ! This is a silly attempt to compare ERHE to actual functioning companies ! ERHE is a holding company with high paid executives, who go to meetings and conferences and maintain very expensive office spaces in Huston and STP which have no employees in them. Millions for legal and accounting is a joke. All the accountants would need to do is maintain a list of the cash that Ntephe is squandering and straight up flushing down the sewer. Certainly would not take a lot of time to keep track of the accounts receivable !!!

[TOB]

The other company's expenses are in line with ERHC.

It is a small US public company exploring deep-water assets off of West Africa, just like ERHC.

Its 2009 expenses of $6.0 million are comparable to ERHC's general operating expenses. At the time it was quite similar to ERHC. Just holding assets.

That it has increased to $8.77 million in 2010 and $11.28 in 2012 is because it has added staff to take on new roles.

I fully expect ERHC's general operating expenses to increase in a similar fashion as it adds staff and evolves into a more active role in Chad.

The other company added staff to try to become operator of their deep-water assets. That model failed with only 1 well drilled. It was a duster. They are now seeking to copy ERHC's model and bring in a JV partner.

As Buffalo Trader proved, the cost of being a public company is at minimum about $3.58 million. That is just for compliance, legal, accounting and other costs of being a public company. And that is for OTCBB companies like ERHC.

As ERHC had the added pressure of the SEC action, their compliance is critical to the company, and obviously they achieved this spending well below the estimated average.

[tryoty]

"no clear plan how we will get any more income in the next few years"

This is a noose around this stocks neck. Ntephe can't seem to articulate how he will pull it off without a disclaimer that it isn't his fault if it doesn't work. The shelf? In the real world it may extend his paycheck, but at our expense. He needs to deliver value to US to gain our support.

Ntephe seems like a good guy and a smart man, but as a leader willing to accept accountability for not delivering things, and I'm not talking about drilling results since that's out of his control, his record is weak.

The market needs to know how this company will move forward before the market will invest the money needed to move forward. We need to see the plan. If it's viable, the market will invest. If it's the shelf, us life'ers will get a shot at some really cheap shares.

OTCBB 101, don't buy before the dilution, buy after, and then pray.

Nobody at ERHC understands the market its shares trade on, especially the firm specializing in "crisis management" that has represented ERHC for years. There is no connection with real world shareholders. All communication from shareholders goes into a pot, which is then stirred. What get served to the CEO is anyone's guess.

Am I anti-ERHC? I don't think so, I still hold my shares, but changes are needed. There needs to be an information exchange **BOTH WAYS**, the CEO needs to listen and the shareholders need to hear. Right now only one ERHC shareholder has access to the CEO, and the CEO is barricaded from the rest of us. He needs to listen to the people whose lives he affects, not just the person that controls the shares. As a non-shareholder of Apple, I'd bet I could get a personal response from its CEO faster than I could with ERHC. Ntephe operates oblivious to the concerns of his shareholders. He, ERHC, and "the one", will never make it in the *real* world until they understand that.

I knew all of this when I bought it. It is what it is. But it sucks and it is hurting us all.