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Microcap & Penny Stocks : Environmental Remediation Hldg Corp. (ERHC)
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To: Bob Fairchild who wrote (479)9/13/1998 10:29:00 AM
From: Andy  Read Replies (1) of 671
 
There will be more news to come soon from ERHC. Please remember that ERHC did not accept the $10 mil financing from Kingsbridge because of the massive dilution to the shares. Also, the $4.3 mil financing received last year is still to be registered (S1 registration), and that these debendures are still to be converted. This again can lead to massive dilution. It is therefore to the advantage of this S1 group to see the share price drop. But, knowing ERHC top management quite well especially the CFO, I suspect that this financing will be renegotiated or cancelled.

The Mobil agreement covers only a small fraction of the total area to be developed. There are other majors looking at the remaining area, including the on-shore sites. Schlumberger is still doing the seismic and this analysis has been extended to cover a broader area.
Knowing how rich this area is with oil, and seeing the joint venture with one of the biggest oil company in world (Mobil) and the biggest oil service company in the world (Schlumberger), it will not surprise me to see one of the majors take a more serious interest in ERHC.

To sell your share at these prices is a big bargain for those accumulating. Most small and medium size oil and gas companies are suffering because of the low oil and gas price. Many of these companies are bankrupt or were taken over by others. ERHC will weather the storm, and this is clearly reflected by the important joint ventures with two of the majors for now.

As mentioned earlier, we will hear more details from ERHC, and Mobil and others, soon.
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