Replies to post #281633 on ERHC Energy Inc (ERHE)

[midtieroil]

I will tell you exactly what happened to make the share price go down even more than when the poor ERHC results came out. ERHC said they were going to start exploration at the end of last year and they still haven't. ERHC said they were going to buy producing properties they didn't. They completely blew a deal involving Exile. ERHC said they were going to raise the capital needed to move forward and they still haven't. ERHC's cash balance is now below the amount of current liabilities they have on the books. You think that matters to some investors? ERHC authorized the issuance of 2 billion more shares during that period too and almost promised substantial dilution. You think nobody cared about that? ERHC tried a rights offering where the largest shareholder elected not to participate, where California residents couldn't participate and where less than 1/10 of the amount the shares they hoped to sell were sold. Do you think that was a factor?

And then there is an LOI that has dragged on for six months with no mention of the terms, no mention of the expiration date and no mention of the company involved. Could any of the lower share price because of that? Chad is over two years old now and maybe they are now finally getting around to the environmental study. Maybe. Caracal drilled 6 wells in Chad in that period. You think that mattered to any potential investors? How about the people who continuously promised a higher share price and said they were buying every day only to see the share price sink farther and farther. Could that have been a factor too as people got frustrated by all this positive talk with no results? How about continuously blaming the shorts for the share price when that was obviously not the case. You think that affected the share price?

If anyone wants to blame this one message board for the current share price they certainly have the right to do so. But I think the real reasons are clearly stated above. Maybe some people here pointed all these things out, but they are ALL true and they ALL have had an affect on the share price. Bottom line is people don't need this message board to see what has been wrong with this company. They are smart enough to figure it out for themselves and they have.