Replies to post #275481 on ERHC Energy Inc (ERHE)

[emdyal]

These guys have pretty huge egos in that over the past year they spent a whole $300 000 for the Kenyan block while putting $4 million in their own pockets !

[Krombacher]

HDY's market cap is $60 million too. So I fail to see how HDY is somehow better than ERHE.

Second, we know that ERHE managed to get its Kenya blocks due to the networking and shrewd hiring of Peter Thuo.

Thuo worked for the Kenyan oil arm and was well suited to picking out a fine property while ERHE had the appropriate connections and resources to get a good bargain on the block.

This was also before Twiga, Ngami, etc., which were huge oil discoveries.

Things change and the value of ERHE's Kenya block has changed...they can get quite a bit more than they paid for it.

Seems, ERHE has made an excellent investment decision when it comes to Kenya.

Has ERHE always made excellent investment decisions? No. But all it takes is one good one.

Krombacher

[Krombacher]

Please provide a link for the following:

Sixty million is probably about what it will cost to get one hole in the ground when you consider all the required testing and then the drilling cost.

First, where does one get $60 million? Are you factoring in cheaper Kenyan labor?

Second, it doesn't matter what the drilling costs are if the commercial oil justifies the cost.

Third, if ERHE gets the kind of carries Africa Oil got...Africa Oil, in addition to the $35 million, also got $45 million toward future drilling costs...i.e. carries...

then it is a non-issue, since clearly oil companies in Kenya are willing to do those deals.

Krombacher